Gate Daily Report (July 13): Thailand tightens monitoring of stablecoin trading; Pakistan convenes and issues a ban on digital asset education decree scholars

Bitcoin (BTC) experiences extreme short-term volatility; as of July 13, it is temporarily trading around $63,780. The Bank of Thailand requires that personal cash deposits above 5 million Thai baht need proof of source, and it will strengthen monitoring of stablecoin transactions. Pakistan’s crypto-asset regulator has met with scholars who issued a ruling banning digital assets, and believes that stablecoins, tokenized assets, and unsecured tokens should be judged separately.

Macroeconomic Events & Crypto Market Hot Spots

1. According to reports from local Thai media, when Thailand requires individuals to deposit cash exceeding 5 million Thai baht (about $150,000), they must verify the source of the funds. This intervention expands commercial banks’ compliance responsibilities in cash networks, large-denomination currency exchanges, precious metals trading, and suspicious stablecoin transactions, directly preventing regulated entities from facilitating systemic corruption or shadow economic activity.

In addition, the Thailand central bank and the Securities and Exchange Commission (SEC) jointly conduct audit work, focusing on Tether (USDT) to identify and prevent illegal fund flows. This crackdown also includes strengthening controls over precious metals trading, requiring banks to report suspicious patterns, such as rapid digital purchases and same-day withdrawals of physical cash, to combat money laundering activities.

2. According to a report by Cryptopolitan, Pakistan’s crypto-asset regulator met with scholar Mufti Taqi Usmani, who had previously claimed that, under Islamic jurisprudence, using cryptocurrencies to buy goods or services is not allowed.

The chairman of Pakistan’s Virtual Assets Regulatory Authority (PVARA), Bilal bin Saqib, believes that stablecoins, tokenized assets, and unsecured tokens should be assessed separately rather than treated as one category. Pakistan’s new licensing law requires that digital assets must comply with Islamic jurisprudence.

News Updates

1. Hackers who infiltrated SpaceXAI and Starlink’s official X accounts reportedly earned $135,000

2. SpaceXAI and Starlink’s official X accounts are suspected to have been hacked; after retweeting a Meme coin, a Rug Pull occurred, and the posts have since been deleted

3. The Bank of Thailand requires proof of source for personal cash deposits above 5 million Thai baht, and strengthens monitoring of stablecoin transactions

4. A Bitcoin whale that was dormant for seven years transfers 2,931 BTC, worth about $188 million

5. A whale deposits $107 million in HyperLend, borrows $70.94 million and stakes HPL to reduce fees

6. Fidelity: Bitcoin enters a long-term value-investment observation range; short-term reversals still require liquidity to return

7. Serenity: Amplifying technical details—shorting “tech giants,” evolving into a new traffic strategy

8. CZ donation address destroys 700 million CZ tokens and 400 million TCC tokens

9. CryptoQuant: Buy pressure from short-term Bitcoin holders is still dominant; ETF inflows have returned but a trend reversal cannot be confirmed

Market Trend

1. Latest Bitcoin news: $BTC experiences extreme short-term volatility, temporarily at around $63,780; in the past 24 hours, $26.87 million in positions were liquidated, with long positions being the main driver;

2. All three major U.S. stock indexes closed higher on July 10. The Dow Jones Industrial Average rose 149.48 points, or 0.28%, to 52,636.89. The S&P 500 rose 31.65 points, or 0.42%, to close at 7,575.29. The Nasdaq Composite rose 74.72 points, or 0.29%, to 26,281.61.

() (Source: BitcoinCounterFlow)

3. In the Bitcoin liquidation map, using the current 63,750 USDT as the reference: if it drops to around $62,070, the total amount of long-position liquidation would exceed $48 million; if it rises to around $65,790, the total amount of short-position liquidation would exceed $39 million. The short-side liquidation amount is lower than the long-side, so it is recommended to manage leverage ratios reasonably and avoid triggering large-scale liquidations during market fluctuations.

() (Source: Coinglass)

4. Over the past 24 hours, BTC spot inflows were $1.02 billion, outflows were $1.06 billion, and net outflows were $40 million.

() (Source: Coinglass)

5. Over the past 24 hours, <a data-currency='ETH' href='/futures/USDT/ETH_USDT'>$ETH , $ZEC, $DEXE, $EVAA, $T and other contract trading saw net outflows leading, presenting trading opportunities.

Selected Views from X KOLs

Phyrex Ni (@Phyrex_Ni): "Right now, the price of CLUSDT is already $73.7. On Monday, the probability of a run-up to $75 at CME open is quite high, unless Trump does TACO in the past few hours. I placed short orders at both $75 and $78. The Friday close was $71, so Monday probably won’t get too crazy high. It feels like $78 might not be filled, but I’ll still leave them there. I already closed 80% of my previous shorts because I was worried about Monday’s rebound."

"The conflict between the U.S. and Iran over the weekend has escalated a bit, mainly still around the Strait of Hormuz. This time I genuinely feel Iran is overstepping—always trying to charge fees for Hormuz. That’s the behavior of a rogue and robber. If there were truly a full-scale move and fighting broke out, there’s even a chance oil prices could return to $90. But if it remains just mutual provocations, around $80 should be about right."

"Let’s wait and see. From my personal perspective, I still don’t think the U.S. and Iran are willing to re-enter a full-scale war, especially for the U.S. now—unless it’s a lightning war; otherwise it would be unfavorable for inflation and the mid-term elections. I hope for world peace."

"On Sunday, Bitcoin didn’t seem to be affected by the U.S.-Iran conflict, and that’s actually very hard to do. In the past, when $BTC was the front station, it would usually fall first as a sign of respect. Investors still have strong confidence in the $60,000 area. The $61,000 buy orders and $65,000 sell orders posted on Friday should have taken profit on the options premium smoothly."

Outlook for Today

1. China June-end M2 money supply (year-over-year), prior value 8.6%

2. OPEC releases its monthly oil market report