Crypto & DeFi ·
MiCA Takes Full Effect as EU Crypto Market Contracts; SEC Rethinks ETF Rules
The EU's MiCA regulation fully took effect on July 1, 2026, with only about 20% of previously registered crypto firms securing licenses, causing a major market shakeout. In the U.S., the SEC opened a 60-day comment period to create uniform rules for novel ETFs, aiming to replace its case-by-case approval process. Meanwhile, Citi slashed its 12-month Bitcoin target to $82,000, citing record ETF outflows of $4.5 billion in June and weak institutional demand. Robinhood launched its Layer-2 blockchain and tokenized stock trading in 120+ countries, while Crédit Agricole debuted a euro stablecoin, EURXT, on Ethereum.
12 sources2 min read
MiCA fully in force, only 20% of EU crypto firms licensed As of July 1, 2026, every crypto-asset service provider in the EU must hold a MiCA license. Out of over 1,200 previously registered firms, only about 210–244 have secured authorization, forcing the rest to cease operations or face illegality. DefiLlama launched a compliance dashboard to help users track licensed exchanges. 12
SEC opens 60-day comment period to standardize ETF approval The SEC is seeking public input on a uniform regulatory framework for novel ETFs, including crypto funds, to replace its case-by-case approval process. Chairman Paul Atkins said the move aims to avoid picking winners and keep pace with the $12 trillion ETF market. 34
Citi slashes Bitcoin target to $82,000 on record ETF outflows Citigroup cut its 12-month Bitcoin price target from $112,000 to $82,000, citing collapsing ETF demand and weaker investor sentiment. June saw a record $4.5 billion in spot Bitcoin ETF withdrawals, with BlackRock's IBIT accounting for 79% of the selling. 56
Robinhood launches Layer-2 blockchain and tokenized stocks Robinhood Chain, an Arbitrum-based Layer-2, went live with tokenized stock trading in over 120 countries. The company also introduced Robinhood Earn, offering 7% APY on its USDG stablecoin, and expanded crypto trading to the U.K. and Canada. 7
Crédit Agricole launches euro stablecoin EURXT on Ethereum France's second-largest bank issued the EURO eXchange Token (EURXT), a MiCA-compliant euro stablecoin backed 1:1 by reserves at Caceis Bank. The token debuted with 20 million in circulation and has already been used to settle a tokenized Amundi money market fund. 8
SEC's Peirce expects Clarity Act to pass this summer SEC Commissioner Hester Peirce said she expects the Clarity Act, which would split crypto oversight between the SEC and CFTC, to pass this summer. Chairman Paul Atkins also reaffirmed the Trump administration's goal of making the U.S. a global crypto hub. 9
Ethereum Institutional launches as nonprofit for banks Ethereum Institutional, a new independent nonprofit backed by Joseph Lubin, Bitmine, and SharpLink, launched to help banks, asset managers, and governments adopt Ethereum for tokenization and stablecoins. 10
MetaMask Money Account offers 4% APY on mUSD with card spending Consensys launched MetaMask Money Account, offering 4% variable APY on mUSD via Veda vaults and Morpho, with direct Mastercard spending from a self-custody wallet. 11
Trump earned $1.2B from crypto businesses last year A Trump filing shows he took in about $1.2 billion from crypto businesses in the past year, highlighting his deep financial ties to the industry. 12
Crypto & DeFi
Bitcoin, Ethereum, DeFi, stablecoins, and the regulation that moves the market.