Global regulatory shifts: CLARITY Act, SEC plan, EU MiCA, Japan tax reform, US bill passed, Cardano ETF, SEC/CFTC moves
Key Questions
What is the status of the GENIUS Act for stablecoins?
The GENIUS Act faces debate as senators push for stronger state-level oversight and a $10B threshold for stablecoin issuers.
How will MiCA affect crypto platforms in Europe?
The July 1 MiCA deadline could cause 75% of platforms to lose eligibility, with Binance's EU licence bid reportedly set for rejection while BitGo offers a compliance bridge.
What new crypto ETFs have been approved recently?
The SEC approved the first actively managed crypto ETF and a Cardano ETF, expanding product offerings in the space.
What changes did the CFTC make to perpetual futures?
The CFTC clarified regulation of perpetual futures, allowed onshore futures, and cleared exchanges to convert futures contracts.
What tax reforms are happening in Japan for crypto?
Japan is implementing tax reform that would lower the crypto tax rate to 20%, improving the environment for investors.
How is the US Congress addressing CBDCs?
Congress reached a deal on a housing bill that includes a ban on Federal Reserve CBDCs through 2030.
What state-level crypto tax controversy exists in Illinois?
Illinois approved a crypto transaction tax that has drawn strong criticism from industry leaders like Brian Armstrong for harming innovation and jobs.
How is China approaching stablecoin regulation?
China's PBOC is signaling tighter oversight of stablecoins due to their expanding cross-border role and the need for stronger international coordination.
GENIUS Act faces debate on state stablecoin oversight, $10B threshold. MiCA deadline July 1: 75% platforms may lose eligibility; BitGo offers compliance bridge; Binance's EU licence bid set for rejection. USDC compliant, USDT shut out. SEC approved first actively managed crypto ETF. CFTC clarified perpetual futures regulation, allowed onshore futures, and cleared exchanges to convert futures contracts. Kraken launches CFTC-regulated perpetuals via Bitnomial. Cardano ETF approved. Japan tax reform to 20%. Congress reached deal on housing bill with CBDC ban until 2030. Illinois governor approved crypto transaction tax, drawing industry criticism. Bitbank cracked down on Polymarket-linked transfers. SEC proposed rule changes for tokenized stocks. China's PBOC signaling tighter stablecoin oversight as cross-border role expands. Latest: Brian Armstrong publicly criticized Illinois' anti-crypto tax law, calling it harmful to the state and innovation.