Crypto Industry News & Market Trends

Revolut to delist USDT in August, citing regulatory and risk concerns

Revolut, a crypto-friendly digital banking platform headquartered in the United Kingdom, notified some users it will delist Tether USDt (USDT) stablecoin in August, citing regulatory and risk concerns.　　In a Friday customer notice seen by Cointelegraph, Revolut said users will no longer be able to buy USDT starting July 6, with full delisting scheduled for Aug. 31, 2026.　　If users do not sell or withdraw their USDT by the end of August, Revolut will automatically convert any remaining USDT holdings into users‘ base currency at the day’s exchange rate, the company said.　　USDT deposits will no longer be supported after July 30, 2026, after which any incoming USDT transfers will be rejected, it said.　　The move highlights how major fintech companies are adjusting stablecoin access in response to shifting regulatory frameworks. It also raises questions about timing, as exchanges such as Coinbase began delisting USDT in Europe in 2024 to align with EUs Markets in Crypto-Assets (MiCA) requirements.　　Revolut does not cite exact framework for delisting　　Revolut has not clarified whether the USDT delisting will apply globally or only in specific jurisdictions.　　Addressing the reasons for delisting USDT, Revolut cited “regulatory and risk considerations” without expanding what regulations specifically have triggered the move.Source: Cointelegraph　　The company was granted

07-04Industry

Defendant files to dismiss New York lawsuit seeking ownership of 39,069 Bitcoin wallets

A pseudonymous defendant has moved to dismiss a New York lawsuit seeking ownership of 39,069 dormant Bitcoin addresses, arguing that Bitcoin addresses are merely data strings that cannot be sued.　　The defendant, identifying themselves as “John Doe 33,” filed a notice of appearance and motion to dismiss on Thursday, claiming they control one of the dormant wallets named in the lawsuit.　　According to the motion, the lawsuit is legally defective because Bitcoin address strings are neither persons nor legal entities subject to the courts jurisdiction. The filing argues that a public Bitcoin address cannot itself be “found” under New Yorks lost-property law because it has always been publicly visible on the blockchain.　　The filing challenges the lawsuit filed in May by plaintiff “Noah Doe” and two Wyoming-based LLCs, ABC Company and XYZ Company. The plaintiffs claim the Bitcoin tied to the listed addresses constitutes abandoned property that they reported to the New York Police Department and claimed under New York lost-property law.　　Regardless of how the court rules on ownership, it remains unclear how the plaintiffs could recover any Bitcoin without possessing the private keys needed to access the wallets.　　Defendant files a motion to dismiss the case seeking ownership of 39,069 Bitcoin wallets. Source:

07-04Industry

US law enforcement group drops opposition to CLARITY Act: Report

The Major County Sheriffs of America reportedly said it no longer opposes the CLARITY Act after initially raising concerns over how the bill would affect illicit finance investigations.　　In a letter to US Senate Banking Committee chair Tim Scott and Senator Elizabeth Warren on Friday, the MCSA said it shifted its stance on the CLARITY Act to “neutral” after some of its concerns in a May 14 letter regarding Section 604 in the bill were addressed.　　Section 604 relates to the Blockchain Regulatory Certainty Act, which seeks to protect developers from liability for illicit activity committed by users on their decentralized platforms.　　The MCSA previously contended that Section 604 could create a loophole for criminals to exploit, making it tougher for law enforcement to investigate crypto-related crimes.Source: Eleanor Terrett　　While the CLARITY Act has bipartisan support, its passage through the Senate has largely been stalled by banking groups seeking to restrict stablecoin yield, which they argue functions like an unregulated deposit product that could drive trillions of dollars in outflows from the traditional banking system.　　The bill has been awaiting a full Senate vote since May, when the Senate Banking Committee passed the bill mostly along party lines.　　Senators in favor of the bill are pushing

07-04Industry

Bitcoin profit and loss ratio falls to 43-month low

Bitcoins realized profit and loss ratio has fallen to a 43-month low of -0.35, a figure that signals extreme market-wide loss conditions but has historically coincided with market bottoms, blockchain analytics platform CryptoQuant said.　　The Bitcoin realized Ps aggregate on-chain cost basis — a level that has historically coincided with strong forward returns of 41% at six months and 81% at 12 months.　　Livingston acknowledged that buying Bitcoin right now “feels awful,” but that‘s precisely why it’s trading at a discount, he argued.　　“Waiting for ‘the bottom’ is a wonderful plan with one flaw. The bottom never announces itself,” Livingston said, recommending investors buy now rather than overpay at the top.

07-04Industry

ESMA warns many prediction market event contracts already face EU retail ban

The European Securities and Markets Authority (ESMA) has warned that many prediction market contracts may already fall under existing restrictions on binary options, saying companies cannot avoid financial regulations simply by marketing them as “event contracts.”　　In a public statement on Friday, the regulator reminded companies that event contracts meeting the definition of financial instruments are already prohibited from being marketed, distributed or sold to retail investors under national measures implementing ESMAs 2018 binary options restrictions.　　ESMA said the assessment depends on a contracts characteristics rather than how it is marketed, adding that event contracts with binary outcomes and fixed payouts are likely to qualify as financial instruments subject to the restrictions.　　The regulator also told companies that offering qualifying event contracts to professional or institutional clients still requires authorization under the EUs Markets in Financial Instruments Directive, or MiFID II, regardless of whether retail investors are excluded.Excerpt from ESMAs July statement on event contracts. Source: ESMA　　The statement does not introduce new restrictions. ESMA said it issued the reminder after observing increased offerings of event contracts and the rapid growth of prediction markets, noting that qualifying binary options have already been subject to national restrictions across the EU since 2018.　　Related: StanChart joins ESMAs

07-04Industry

Crypto Biz: Bitcoin maximalism meets the realities of capital markets

For years, Michael Saylors Strategy built its brand around a simple mantra: Buy Bitcoin. Never sell. This week, that narrative changed.　　The company authorized up to $1.25 billion in Bitcoin sales under a new capital framework. At current prices, that equates to roughly 21,000 BTC that could eventually hit the market — a reminder that even Bitcoin‘s most committed corporate holder isn’t immune to the realities of capital management.　　This week‘s Crypto Biz explores how the digital asset industry is entering a more pragmatic phase, where ideological purity is giving way to financial discipline. It also examines the intensifying stablecoin race as issuers compete for reserve yield, Fidelitys latest defense of Bitcoins long-term security model and the crypto industry’s growing political influence ahead of the 2026 US midterm elections.　　Strategy authorizes $1.25 billion in Bitcoin sales to fund dividends, buybacks　　Strategy has authorized up to $1.25 billion in Bitcoin sales under a new capital framework that will fund shareholder dividends, bolster cash reserves and repurchase stock while preserving its long-term Bitcoin strategy.　　The companys new “Digital Credit Capital Framework” raises the annual dividend on its STRC preferred stock from 11.5% to 12%, establishes a formal Bitcoin monetization program and expands capital return initiatives through buybacks

07-04Industry

Upbit says it only expressed interest in future OUSD participation

South Korean crypto exchange Upbit said it is not participating in the issuance of Open USD, after its operator Dunamu was named among more than 140 businesses involved in the new stablecoin initiative.　　“Upbit has only indicated our potential willingness to consider taking part in the future expansion of the OpenStandard ecosystem,” an Upbit spokesperson told Cointelegraph.　　The clarification follows similar pushback from Samsung Electronics and other South Korean companies listed by Open Standard.　　According to a Friday report by ChosunBiz, Samsung said it had not held formal discussions with the project and did not know what role it was expected to perform. Meanwhile, Shinhan Financial Group and KBank reportedly said they had only indicated that they would consider the initiative.　　Cointelegraph reached out to Open Standard for comments but did not receive a response before publication.　　Excerpt of the list of businesses listed by Open Standard. Source: Open Standard　　Open Standard announced the dollar-backed stablecoin on Tuesday, saying more than 140 businesses had “signed up to use” it, including Visa, Mastercard, BlackRock, Google, Samsung Electronics and Dunamu.　　Open Standard previously said businesses would be able to mint and redeem OUSD without fees or volume limits. The project also plans to distribute earnings generated from its reserves

07-04Industry

EU crypto rulebook faces enforcement challenge as MiCA transition ends

Update (July 4, 6:30 AM UTC): This article has been updated to correct information regarding MiCA compliance costs.　　The European Unions cryptocurrency industry has entered a new enforcement phase as the transition period under the Markets in Crypto-Assets (MiCA) regulation came to an end.　　The end of the transition means crypto companies without MiCA authorization can no longer legally serve EU clients and are expected to wind down operations or face multimillion-euro fines and other enforcement action.　　Industry executives and lawyers told Cointelegraph the next challenge is ensuring national regulators apply the blocs single rulebook consistently, even as supervisory approaches are expected to vary across member states.　　The transition marks MiCAs first major enforcement test as regulators begin applying the EUs crypto rulebook.　　MiCA compliance costs versus fines　　Although complying with MiCA can cost hundreds of thousands euros, experts say operating without authorization carries far greater financial and regulatory risks.　　Nicola Massella, partner at Storm Partners, estimated MiCA implementation costs for many Cryptocurrency companies at 350,000 euros ($400,000) to 600,000 euros ($690,000). Brickken CEO Edwin Mata said the real cost comes from building continuous compliance systems, including anti-money laundering monitoring, Travel Rule infrastructure and custody segregation.　　On penalties, Eckehard Stolz, managing director of Amina EU, said MiCA penalties

07-04Industry

Donald Trump says ‘nothing wrong’ with $1.4B crypto windfall while in office

US President Donald Trump has responded to criticism of his 2025 financial disclosures, showing that he earned $1.4 billion in income from crypto-related ventures while in office.　　In a Thursday interview with CNBC‘s Joe Kernen, Trump said that there was “nothing illegal” and “nothing wrong” with profiting from his crypto investments as president. He claimed that other people were responsible for his investments and he didn’t “even know who they are,” not directly answering questions about perceived conflicts of interest as president.Donald Trump (left) and Joe Kernen (right). Source: CNBC　　Trump‘s comments followed the release of his 2025 financial disclosure report by the US Office of Government Ethics, showing that he took in more than $2 billion from his businesses and investments, about $1.4 billion of which was connected to crypto projects like his memecoin and family’s platform World Liberty Financial. Many advocacy organizations have characterized the investments as a “grift” allowing the president to influence related legislation like the Digital Asset Market Clarity (CLARITY) Act.　　Following his first term as US president, Trump called Bitcoin (BTC) a “scam.” However, in the lead-up to the 2024 election, he began cozying up to many high-profile figures in the crypto industry, including Gemini co-founders Cameron

07-04Industry

StanChart joins ESMA's first MiCA register update since deadline

The European Securities and Markets Authority (ESMA) has published the first update to its register of crypto companies under the European Unions Markets in Crypto-Assets Regulation (MiCA) after the transitional period ended Wednesday.　　Fridays update to the register added 37 licensed crypto-asset service providers (CASPs), including global banking group Standard Chartered, which secured MiCA authorization from Luxembourg regulators on June 25.　　Among the new CASPs are digital asset prime brokerage FalconX, Sygnum Europe and Ronin EM, while the register of electronic money tokens (EMTs) has added Crédit Agricoles CACEIS.　　ESMAs interim MiCA register now lists 280 CASPs, up from 243 in the previous update published June 26.　　Standard Chartered advances crypto strategy in Europe with MiCA and EMI licenses　　In addition to securing MiCA authorization, Standard Chartered was also granted an Electronic Money Institution (EMI) license, allowing it to issue electronic money and provide payment services, the bank announced on Monday.　　“Securing our MiCA and EMI licences is a key step in progressing our digital asset journey in Europe,” Standard Chartereds global head of financing, Margaret Harwood-Jones, said.　　Related: Standard Chartered, Circle bring USDC minting onto banking rails　　The bank said the approvals build on recent milestones, including the launch of digital asset custody services in Asia and

07-04Industry

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