Regulatory shifts and enforcement actions dominated the crypto landscape in the past 24 hours. The European Commission is set to relax stablecoin rules despite ECB warnings, while the Federal Reserve and IMF addressed the maturing but uncertain regulatory environment for stablecoins. In the U.S., Fannie Mae and Freddie Mac must now recognize crypto assets in mortgage risk assessments, and Coinbase disclosed its role in a $225 million Secret Service crypto seizure.
The Australian Securities and Investments Commission (ASIC) has established a panel to investigate the Australian Securities Exchange (ASX) after the failure of its blockchain project. The inquiry will evaluate the ASX's governance, capability, and risk management frameworks across its group operations.
Ledger has announced it is gradually retiring support for its Nano S hardware wallet, urging users to upgrade to newer models. The company cited upcoming changes in blockchain protocols that could eventually make the Nano S obsolete. Some users have expressed concerns about whether the device will continue to function after support ends and if there are security risks in continuing to use it.
Investment firm Republic is preparing to allow retail investors to gain exposure to SpaceX, one of the most sought-after technology startups founded by Elon Musk, according to the Wall Street Journal.
Zak Folkman, co-founder of World Liberty Financial, the cryptocurrency platform backed by Donald Trump, announced that the company will release an audit of its stablecoin within days and is planning to launch a new app.
The U.S. Securities and Exchange Commission is expected to rule on Grayscale's proposal to convert its Grayscale Digital Large Cap (GDLC) Fund into an exchange-traded fund (ETF) by July 2, with the regulatory deadline now one week away.
Wall Street broker Bernstein has increased its price target for crypto exchange Coinbase (COIN) to $510, stating in a research report that the company remains one of the most misunderstood businesses in the digital assets sector.
Byte-Sized Insight examines how cryptocurrencies respond during periods of global tension, highlighting Bitcoin's market resilience and the use of blockchain technology in supporting journalism and distributing aid.
Zama, a confidentiality startup focused on encrypted smart contracts and privacy for public blockchains, has raised $57 million in a Series B funding round led by Pantera and Blockchange. The funding values the company at over $1 billion. Zama also launched a public testnet for its protocol.
Kraken has received approval from the Central Bank of Ireland for a Markets in Crypto-Assets (MiCA) license, allowing the crypto exchange to operate and offer digital asset services across all 27 EU states and 30 EEA member states. This move positions Kraken alongside other global exchanges complying with new EU regulations enforced in 2024, as it seeks to expand its European operations and compete with rivals like Coinbase.
Starting June 27, Barclays, one of the UK's largest banks, will prohibit customers from using Barclaycard credit cards to purchase cryptocurrencies. The bank cited concerns over market volatility, lack of consumer protection, and the risk that customers could incur unmanageable debt as reasons for the ban. The decision, confirmed in an updated FAQ on Barclays' website, comes amid ongoing debate in the UK about the risks of buying crypto with credit cards. Barclays has also indicated plans to extend the restriction to debit cards, citing similar consumer risk concerns.
SoFi Technologies has reentered the cryptocurrency market after a hiatus caused by regulatory challenges. The U.S.-based digital bank is relaunching digital asset trading and introducing international remittances using blockchain technology and stablecoins, following eased regulations in the United States.
On Wednesday, Federal Housing Finance Agency (FHFA) Director William J. Pulte announced that Fannie Mae and Freddie Mac must consider cryptocurrency holdings as eligible assets in single-family mortgage loan risk assessments. The directive, which aligns with President Donald Trump's crypto agenda, requires the two government-sponsored enterprises to treat crypto reserves as verifiable mortgage reserve capital, potentially allowing borrowers to use crypto investments to qualify for home loans. The order is effective immediately and marks a significant step toward the financial legitimacy of cryptocurrencies in the U.S. housing market.
Aurora Mobile, a Nasdaq-listed Chinese marketing technology company, has announced plans to invest up to 20% of its cash and cash equivalents in cryptocurrencies. The firm cited bitcoin, ether, Solana, Sui, and other tokens as potential assets for its new treasury strategy.
Japan's Financial Services Agency has reported over 12 million domestic cryptocurrency accounts as of January 2025, with assets totaling $34 billion. The agency is considering proposals for crypto exchange-traded funds (ETFs) and tax cuts, which could impact the country's substantial crypto holdings.
Bitfinex Securities has introduced its first equity-based tokens, TITAN1 and TITAN2, with a combined value of £105 million (approximately $143 million). Issued by Ctrl Alt, these tokenized equity offerings mark the first of their kind on the Bitfinex Securities exchange, according to a June 25 statement.
Real-world asset (RWA) tokenization has moved past the proof-of-concept stage, with more than $20 billion in tokenized assets now in existence. Major institutional asset issuers including Apollo, BlackRock, Hamilton Lane, KKR, and VanEck are participating, signaling that on-chain finance is now a practical reality rather than a hypothetical concept.
The world's most valuable startups remain largely inaccessible to the public, as they are held in private portfolios with high capital requirements, long lockup periods, and limited deal flow. Tokenization is emerging as a new financial frontier, offering the potential to broaden investor access to these private markets.
Grove, a new decentralized finance (DeFi) protocol focused on institutional-grade credit infrastructure, has emerged from stealth with a $1 billion commitment to a tokenized asset strategy. The protocol has made an allocation into a newly tokenized Janus Henderson collateralized loan obligation (CLO) strategy, targeting a credit segment considered ready for integration into DeFi.
Republic plans to offer tokens linked to the performance of private company shares, including SpaceX and OpenAI, allowing retail investors to participate with investments ranging from $50 to $5,000. These tokens do not provide ownership rights or access to financial disclosures, and the minimum investment is significantly lower than the typical $10,000 required for private firms.
A7A5, a stablecoin pegged to the Russian ruble and launched in Kyrgyzstan, has processed over $9.3 billion in transactions on Grinex, an exchange viewed as the successor to the sanctioned Garantex platform. With a reported market capitalization of $151 million, A7A5 has facilitated these transactions in just four months, reportedly helping Russia with cross-border payments and efforts to bypass international sanctions.
Lightning Labs has announced the release of Taproot Assets v0.6, marking the first multi-asset Lightning protocol on the Bitcoin mainnet. The update allows for the minting and instant transfer of assets, including stablecoins, over the Lightning Network at low fees, enhancing both functionality and security.
The European Commission is preparing to announce new rules that will ease restrictions on foreign-issued stablecoins, including potentially allowing U.S. dollar-backed tokens like USDC and USDT to circulate freely within the European Union. This move, which involves loosening MiCA regulations to make non-approved stablecoins interchangeable with certified EU-only ones, comes despite warnings from the European Central Bank that such changes could destabilise the region's banks during periods of market volatility, according to reports from the Financial Times.
Federal Reserve Chair Jerome Powell testified before the Senate Banking, Housing, and Urban Affairs Committee and the Financial Services House Committee, stating that the stablecoin industry has matured in the last couple of years and that the broader crypto industry is maturing and becoming more mainstream.
IMF Deputy Managing Director Bo Li stated that significant regulatory uncertainty remains around stablecoins, particularly in terms of their classification and enforcement. While global financial authorities are collaborating to harmonize regulatory frameworks, these efforts are still in the early stages. The IMF warned that inconsistent policies could prompt stablecoin firms to seek jurisdictions with weaker oversight.
Paxos is experiencing an influx of demand for its stablecoin infrastructure, according to Walter Hessert, Head of Strategy at Paxos. Hessert told Blockworks that firms are increasingly recognizing the need for stablecoins.
Eight of South Korea's largest commercial banks have formed a unified consortium to develop and launch a stablecoin pegged to the Korean won by 2026. The initiative aims to protect the country's monetary sovereignty and counter the increasing dominance of the US dollar in the digital financial sector.
A victim of a $20 million cryptocurrency "pig butchering" scam has filed a lawsuit against Citibank, claiming the bank ignored warning signs and failed to investigate suspicious account activity related to the fraud.
Newly surfaced blockchain data related to the $90 million hack of Iran's largest crypto exchange, Nobitex, reveals that the breach exposed more significant underlying issues beyond the initial theft.
A police sting operation targeting crypto ATMs uncovered a case in which an elderly widow lost $281,000 to scammers. One victim reported carrying $13,000 in cash at one point to send Bitcoin to the fraudsters using crypto ATMs.
Authorities in Greece are investigating after an unidentified individual received a significant amount of Ethereum, linked to the $1.5 billion Bybit hack, into a wallet on a local crypto exchange.
Coinme has agreed to pay a $300,000 fine after the California Department of Financial Protection and Innovation (DFPI) found the company in violation of state crypto ATM regulations. This marks the DFPI's first enforcement action under California's Digital Financial Assets Law.
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