Stablecoin AML rules, MS Bitcoin ETF, Iran tolls, crypto lag, crowded shorts and Sui jump

In this edition

1. Treasury proposes bank-style compliance rules for stablecoin issuers

2. Morgan Stanley launches MSBT as Bitcoin stays range-bound

3. Iran tanker toll reports add friction around the Strait of Hormuz

4. Negative funding and ETF outflows keep majors compressed

5. Polkadot and Uniswap shorts become crowded trades

6. Sui tests breakout zone after sharp four-hour rally