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.

A Bloomberg Intelligence strategist warned bitcoin could fall to about $10,000 in the medium term, citing signs that a speculative bubble is deflating. Mike McGlone said bitcoin has lagged U.S. stocks even as indexes hit records, and has failed to hold above $69,000. He said past rallies relied on temporary support such as cheap liquidity and the launch of U.S. spot ETFs, while current ETF inflows and regulatory optimism have faded.