Category: crypto

ESMA warns that prediction market contracts in the EU may already be subject to existing financial rules, potentially triggering a retail ban on binary options. Firms offering event-based contracts must assess if they qualify as financial instruments under MiFID II. Regulatory scrutiny of platforms like Polymarket is increasing across Europe.

Standard Chartered and FalconX have obtained MiCA licenses, allowing them passporting rights across all 27 EU member states. ESMA has expanded its register to 300 authorized crypto firms. The July 1 MiCA deadline has reshaped the EU crypto market, with only licensed firms permitted to serve new customers.

President Trump disclosing $1.4 billion in crypto income has sparked Senate ethics debate over the CLARITY Act. Senator Gillibrand wants to ban lawmakers and spouses from issuing or promoting memecoins. Conflict-of-interest rules are crucial before major crypto legislation moves forward. Trump’s memecoin profits fuel concerns, adding political obstacles to the bill.

Gnosis Pay’s $1.5 million hack was traced back to a software flaw dating back to October 2023, with all affected users reimbursed. The company recovered most of the stolen funds but continues efforts to retrieve about $300,000. The incident highlights the growing concerns around crypto security amidst rising cyber threats.

Upbit, a South Korean crypto exchange, denies participating in Open USD stablecoin issuance despite being listed by Open Standard. Other companies like Samsung, Shinhan Bank, and K-Bank have also not formally agreed to join the initiative. Uncertainty around South Korean stablecoin regulations continues to delay firm commitments from potential participants.

Robinhood is set to assist in launching the Trump Accounts program before the July 4th start date. Eligible children will receive a $1,000 government contribution, with private contributions capped at $5,000 annually. Trump mentioned a possible SpaceX stock donation. Robinhood will manage access to the new accounts. Regulatory developments continue to separate traditional investments from…

Shielded Labs is considering delaying the Zcash Ironwood network upgrade due to concerns about the readiness of exchanges, mining pools, and wallet providers. The upgrade involves migrating infrastructure from zcashd to the new Z3 software stack, with some operators needing more time for deployment and testing. Ironwood aims to secure Zcash’s shielded supply following the…

The Major County Sheriffs of America no longer opposes the DeFi provision in the CLARITY Act, taking a neutral stance. Law enforcement concerns have narrowed, with proposed amendments giving them a formal role in Treasury studies. Senate momentum has improved, with expectations for the CLARITY Act passing increasing.

Barstool Sports founder Dave Portnoy plans to hold his Bitcoin investment even if it falls to zero after losing millions on a position bought near $100,000. He admits to mistimed trades but vows to keep the asset despite its declining value. Experts offer contrasting long-term outlooks for Bitcoin.

Russia’s central bank is set to roll out the digital ruble on September 1 as planned, despite EU sanctions targeting related financial infrastructure. Major banks and large retailers will be required to support digital ruble payments in stages. This move contrasts with U.S. lawmakers moving towards a temporary ban on a Federal Reserve digital dollar.