The dominant theme in digital assets over the past week was the U.S. Digital Asset Market Structure Act, known as the Clarity Act. As the bill stalls, the White House and regulators expanded direct contacts with the industry. In South Korea, a revised anti-money laundering law takes effect on Aug. 20, tightening entry requirements. Markets also tracked bitcoin’s range near $63,000, sharp debate over its outlook, XRP weakness and growing won stablecoin proof-of-concept activity.

Bitcoin has weakened recently, but its medium- and long-term adoption trend remains intact, an analysis said. Grayscale said structural drivers behind bitcoin adoption have not changed much despite short-term price swings. It cited rising U.S. government debt, broader use of stablecoins and tokenization, and expectations that financial intermediaries will gain greater access. It also pointed to younger investors’ preference for digital assets and growing use of ETPs.