Gate Europe CEO Giovanni Cunti warns that crypto companies licensed under the EU's MiCA regulation may exit the market due to mounting compliance costs, despite the framework strengthening investor protections. Stricter rules are reshaping Europe's crypto landscape, potentially driving innovation elsewhere.
A UK parliamentary group has launched an inquiry into banking barriers faced by crypto businesses and consumers, citing concerns over investment, competition, and economic growth. The inquiry follows a survey revealing widespread transaction blocks and a 'hostile' banking environment, ahead of new FCA crypto regulations.
A cross-party group of UK lawmakers has initiated a parliamentary inquiry into the banking challenges faced by the country's crypto industry. The probe aims to understand why firms struggle with bank accounts and why banks restrict crypto-related payments, assessing if these barriers undermine the UK's goal to be a digital assets leader.
The UK's designation of Iran's Islamic Revolutionary Guard Corps (IRGC) under the National Security Act 2023, effective July 17, creates criminal exposure for UK-linked entities receiving value from the group. This new offense, carrying up to 14 years in prison, is broad enough to include crypto assets like stablecoins, posing significant compliance challenges for businesses due to blockchain's immutable nature and evolving wallet attribution.
European authorities added 14 crypto companies, including Ripple Payments Europe, Bison Bank, and Hrvatska poštanska banka, to the MiCA framework register. This update brings the total licensed crypto-asset service providers to 294, signaling continued integration of traditional finance into Europe's regulated crypto market.
France's gambling regulator blocks Polymarket, a prediction market platform, deeming it illegal gambling. ESMA adds 14 crypto firms to the MiCA register, slowing licensing pace. Balaji Srinivasan seeks legal assurances from Malaysia after a probe into Network School.
The European Securities and Markets Authority (ESMA) has launched a Common Supervisory Action (CSA) to assess the operational resilience of crypto asset service providers (CASPs) under the MiCA framework. The review focuses on custody services, moving beyond initial licensing to examine practical security measures and risk management.
Phantom and Hyperliquid Policy Center asked the CFTC to exempt blockchain protocol developers and non-custodial wallet providers from regulations for traditional financial intermediaries, citing direct user transactions onchain.
JPMorgan Chase CEO Jamie Dimon is strongly opposing the CLARITY Act, warning that stablecoins offering yield could lead to a 'shadow banking' crisis similar to 2008. Banks argue they lack regulatory safeguards, while crypto firms see them as consumer choice.
JPMorgan CEO Jamie Dimon strongly opposes the CLARITY Act, warning that yield-paying stablecoins could create a 'shadow banking' crisis similar to 2008. He vows to fight the bill, which aims to regulate digital assets but faces debate over interest payments on stablecoins.
Swedish fintech Klarna has applied to federal and state regulators to establish a U.S. bank subsidiary, Klarna Bank USA, chartered in Utah and backed by FDIC. This move aims to bring banking operations in-house, offer broader consumer services, and enhance competition in the market.
Belgium's FSMA warned consumers about six unauthorized crypto-asset service providers (CASPs) operating in the country. This action follows the EU's MiCA licensing deadline, marking the start of enforcement for crypto regulations across Europe.
As Europe's MiCA regulation deadline passed Wednesday, numerous crypto companies secured last-minute licenses. Italy authorized four new firms, France added three, and Malta and Spain also granted licenses. Major exchange Binance remains unlicensed, while OKX, Coinbase, and Bybit are among the largest licensed operators.
The Financial Conduct Authority has released new rules for UK crypto firms, requiring authorization for trading platforms, custodians, and stablecoin issuers. The framework includes financial resilience, market integrity, and consumer protection standards, with applications opening in September 2026.
MetaMask introduced Money Account, a self-custody feature combining stablecoin yield, payments, and trading on the Monad blockchain. The product offers DeFi lending via mUSD stablecoin, aiming for a neo-banking experience, amidst ongoing US regulatory debates on yield-bearing stablecoins.
Stablecoin demand shows signs of cooling with a 54% drop in search interest and a 2.5% decline in market cap, yet institutional integration through payment and treasury systems may sustain growth.
Spanish National Securities Market Commission chair Carlos San Basilio stated there will be no extensions or waivers for crypto companies that fail to secure EU approval under MiCA by July 1. Binance is among those at risk of scaling back operations.
US crypto firms and advocacy groups are intensifying lobbying efforts to secure a Senate vote on the Digital Asset Market CLARITY Act before the August recess. The bill aims to establish a federal framework for digital assets, dividing oversight between the SEC and CFTC, but faces hurdles over anti-money laundering provisions and ethics concerns.
Spain's securities regulator confirmed no extension to the July 1 MiCA deadline for crypto firms. Binance, having withdrawn its Greek application, may halt EU operations temporarily as regulators work with unlicensed firms on asset transfers.
The valuation of crypto companies is shifting from traditional digital asset metrics to AI infrastructure, as firms like Galaxy Digital see their power, land, and data center assets become more valuable due to growing AI demand, creating a new 'crypto-AI hybrid' business model.
Investors are increasingly valuing crypto companies based on their AI infrastructure assets like data centers and power access, rather than solely traditional crypto metrics. This shift, exemplified by Galaxy Digital's stock rally, highlights the growing demand for AI computing capacity and the strategic advantage of firms owning relevant physical resources.
Crypto exchange Binance is withdrawing its MiCA application in Greece just before the EU's July 1 deadline, planning to seek authorization in another member state. This move, influenced by past regulatory resistance, may impact some EU users and highlights challenges for crypto firms under new regulations.
The EU's Markets in Crypto-Assets Regulation (MiCA) transitional window closes July 1, requiring crypto firms to secure authorization or cease EU operations. Only 210 out of over 1,200 firms have obtained full authorization, threatening a major industry shake-out.
The ICBA is asking the Kansas City Fed to review Kraken's limited-purpose Fed account before its one-year term expires, citing risks associated with crypto-affiliated entities and recent kiosk fraud allegations.
