As of July 13, Bitcoin has declined by 1.5%, trading around $62,900 after losing critical support at $63,000. Analysts suggest that a failure to regain this level within the next day could lead to further declines toward the $60,000 mark.
In recent days, Bitcoin has experienced negative ETF flows, with $95 million sold across various funds, including $63 million from Fidelity's FBTC ETF. This marks a notable shift after a previous three-day inflow of over $500 million.
The overall cryptocurrency market cap has decreased by 1%, with most tokens trending downward, although privacy coins such as Zcash (ZEC) and Monero (XMR) have seen slight gains, each up about 1%.
New Regulatory Measures for Stablecoins in Thailand
The Bank of Thailand is set to enhance oversight on stablecoin transactions to combat money laundering and illicit financial activities. The focus will particularly be on Tether (USDT) transactions, cash, and foreign exchange to identify and obstruct illegal financial flows.
Local news reports indicate that the central bank plans to work closely with the country’s Securities and Exchange Commission (SEC) to scrutinize high-value stablecoin transactions. This initiative aims to address concerns regarding the gray economy, which is significantly linked to suspicious cash origins.
In 2025, losses from fraud in Thailand were estimated at 115 billion baht (approximately $3.4 billion), with around 173 million fraudulent calls and messages reported. The popularity of stablecoins, known for enabling rapid cross-border transactions, has prompted these new regulations.
The measures will impose additional obligations on commercial banks, requiring them to comply with financial monitoring protocols that encompass cash transactions and suspicious stablecoin activities.
Implications of Eric Trump’s American Bitcoin
In related news, Eric Trump’s American Bitcoin has initiated a 1:15 reverse stock split to avoid delisting from Nasdaq. This move reflects ongoing challenges faced by companies in the digital asset space.
This material is informational and not intended as financial advice.
