Bitcoin broke out of consolidation to reach a historic peak of nearly $119,000, marking an 8% weekly gain. Altcoins like Ethereum (17%), XRP (20%), and Cardano (30%) surged alongside BTC, even as its market dominance dipped to 62.4%. The rally defied expectations amid Trump’s new tariffs targeting multiple nations. Key developments included Ripple partnering with BNY Mellon for its stablecoin, BNB’s $1B token burn, and BlackRock’s Ethereum ETF seeing a record $300M inflow. Analysts noted this BTC rally differs from past cycles, driven more by institutional players than retail investors.
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2 in Finance and 7 in Crypto last week
Malta’s MiCA Licenses Safe Post-EU Review
Malta, a pioneer in EU crypto regulation, faced scrutiny in a recent peer review by ESMA under MiCA. However, the MFSA assured that none of its issued licenses are endangered, emphasizing proactive measures to resolve compliance gaps. This reaffirms Malta’s commitment to maintaining a robust regulatory framework despite early challenges in leadership.
read moreESMA Criticizes Malta’s Crypto License Approval Under MiCA
ESMA’s peer review report highlights deficiencies in Malta’s MFSA during a recent CASP licensing process under MiCA. The regulator approved a license without addressing key risks, such as business model sustainability and governance. Malta has issued five CASP licenses, ranking behind Germany and the Netherlands, but inconsistent oversight could undermine MiCA’s integrity. ESMA urged stricter supervision, while the MFSA claims no licenses are at risk and is implementing corrective measures. The review focused on authorization procedures, not individual firms, with further EU-wide assessments planned.
read moreEU-US Trade Deal Prospects Dim, Says Ex-Commissioner
Cecilia Malmström, the EU Trade Commissioner from 2014 to 2019, casts doubt on the prospects of a significant trade deal between the EU and the US, suggesting it may resemble the modest UK agreement. She highlights internal EU divisions, with some member states pushing for low tariffs in key sectors to secure a deal, while others oppose tariffs altogether and are open to retaliatory measures. The ongoing negotiations face challenges as differing priorities among EU nations and US demands create uncertainty over the outcome.
read moreRobinhood’s EU Tokenized Equity Sparks Private Firm Interest
Robinhood’s recent launch of a tokenized equity platform in the European Union has sparked a wave of interest from private companies looking to tokenize their shares. CEO Vlad Tenev revealed in a Bloomberg interview that the firm has received numerous requests from private firms aiming to make their equity accessible to retail investors via blockchain-based tokens. While the initiative promises to democratize access to private equity, it has also attracted regulatory scrutiny, highlighting the challenges of merging traditional finance with blockchain innovation.
read moreTrump Delays Tariffs, Keeps Trade Talks Open
President Donald Trump has delayed imposing higher tariffs on key trading partners until August 1, leaving room for further negotiations. The EU has indicated progress in trade talks with the US, while financial experts like RBC Wealth Management’s Rufaro Chiriseri analyze the impact on equities and bond markets. The uncertainty surrounding trade policies continues to influence global financial markets as investors weigh potential outcomes.
read moreBBVA Launches Bitcoin & Ethereum Trading in Spain
Spanish banking giant BBVA has introduced Bitcoin and Ethereum trading for retail customers in Spain, marking a significant expansion of its cryptocurrency services. The new offering complies with EU financial regulations, reinforcing BBVA’s commitment to digital assets. This strategic move positions BBVA as a key player in bridging traditional banking with the growing demand for crypto accessibility in Europe.
read moreMastercard & Bitget Launch Zero-Fee Crypto Debit Card in UK/EU
Mastercard and Bitget Wallet have launched a zero-fee crypto debit card, enabling users in the UK and EU to spend digital assets at over 150 million global merchants without converting to fiat. The card leverages on-chain swap technology for real-time crypto-to-fiat conversions, ensuring users retain control of their assets until the moment of payment. With no annual or reload fees, the card also offers 5% cashback in BGB tokens for the first 2,000 users and allows unused balances to generate yields. While the card is non-custodial and KYC-compliant, users should watch for potential hidden costs like gas fees. This launch aligns with Mastercard’s push toward tokenization and Bitget’s broader Web3 expansion, including its recent MotoGP sponsorship.
read moreCARF Regulation: Crypto to Meet Global Tax Standards by 2027
The CARF regulation represents a significant shift in how cryptocurrencies will be taxed globally, bringing them under the same scrutiny as traditional financial assets. With over 60 countries onboard, the framework aims for full implementation by 2027, starting with the UK and EU in the initial phase. Other major financial hubs like Singapore, the UAE, Hong Kong, and the US are slated to follow in 2028, ensuring a standardized approach to crypto taxation worldwide. This move is expected to enhance transparency and compliance in the rapidly evolving crypto market.
read moreGlobal Crypto Regulation: US, EU, UK Approaches
The global crypto regulatory landscape is evolving rapidly, with the US pushing forward with comprehensive legislation, the EU banking on its Markets in Crypto-Assets (MiCA) framework, and the UK adopting a more cautious approach. In a recent discussion on Byte-Sized Insight, Gemini’s head of Europe provided expert analysis on how these divergent strategies may impact innovation and broader crypto adoption. The varying regulatory approaches highlight the challenges of balancing oversight with fostering growth in the crypto sector.
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