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The UK FCA has released the final framework for cryptocurrency regulation, with a mandatory licensing system set to take effect in October 2027

According to The Block, the UK's Financial Conduct Authority (FCA) finalized a comprehensive crypto regulatory framework on Tuesday, with a mandatory licensing regime set to take effect on October 25, 2027. The framework covers prudential requirements, market abuse regulation, and stablecoin standards, applicable to crypto trading platforms, custodians, stablecoin issuers, lending and staking service providers, as well as some DeFi companies with identifiable controlling entities.Businesses can apply for authorization between September 30, 2026, and February 28, 2027, and existing anti-money laundering registrations will not automatically convert. Regarding trading platform rules, the FCA requires UK-qualified crypto asset trading platforms to conduct due diligence, meet entry standards, and publish disclosure documents, while removing the previous exemption that allowed fungible crypto assets to be listed without disclosure documents. Market abuse rules cover insider trading and market manipulation.For stablecoins, the FCA has removed the obligation to forecast the redemption of reserve assets, allowed limited group internal custody arrangements, and reduced the K-SII capital ratio for stablecoin issuance from 2% to 1%. Crypto assets on qualified platforms will be subject to a unified 40% net risk exposure requirement and a 40% counterparty default volatility adjustment. FCA's Director of Payments and Digital Finance, David Geale, stated that the framework is an important milestone for crypto regulation in the UK, providing regulatory certainty while allowing businesses to maintain innovation space.

Zhao Changpeng: Binance's Greek MiCA license application was close to approval but was forced to withdraw due to external factors

According to The Block, Binance founder Zhao Changpeng stated that the MiCA license application submitted by Binance in Greece fully complied with regulatory requirements and was close to approval before being withdrawn, but ultimately the process was interrupted due to "external political factors."In an interview, Zhao Changpeng mentioned that several countries within the EU had expressed interest in the license, and there was even a certain degree of "competitive pursuit," but the regulatory progress was ultimately affected by non-regulatory factors, forcing the application to be withdrawn. Binance officially withdrew its application in Greece last week and stated that it would turn to other EU member states to continue pursuing MiCA authorization.In response to market rumors regarding his connections with high-level EU politicians, Zhao Changpeng stated that he had not seen any verifiable documents and only saw similar claims online, which he did not confirm. Zhao Changpeng also pointed out that the EU MiCA transition period will officially end on July 1, at which time platforms that have not obtained licenses must cease related services. Regulatory agencies in various countries have made it clear that they will not postpone enforcement, and they evaluate this outcome as a "lose-lose situation," using the regulatory processes in Japan and Singapore as examples to emphasize that compliance processes often require a longer period.Additionally, when discussing Strategy's STRC preferred stock product, Zhao Changpeng stated that its structure is "too complex" and expressed difficulty in fully understanding its mechanism, but emphasized that he does not comment on the credibility of its founder Michael Saylor, considering him a "staunch supporter of Bitcoin."

Chainalysis plans to launch an on-chain tracking standard system, proposing an "address clustering ontology" to unify blockchain forensic methods

According to CoinDesk, blockchain analysis company Chainalysis has released a new methodological proposal aimed at establishing a unified on-chain fund tracking standard framework for law enforcement agencies and investigators, to identify address clusters and determine their possible control relationships.The proposal defines the on-chain analysis structure in the form of "ontology," focusing on systematically breaking down the currently unstandardized concept of "cluster" in the industry into wallet segments and functional roles, and describing on-chain relationships through a two-layer structure: the first layer defines the transaction graph structure, and the second layer assesses inference confidence.Chainalysis stated that the framework aims to enhance the interpretability and legal applicability of on-chain forensic methods, and is designed and validated based on its practical experience in relevant cases within the U.S. Department of Justice, including the analytical application in the mixing service Bitcoin Fog case.The company's Chief Scientist Jacob Illum pointed out that the goal of the proposal is to answer "on what evidence basis can these addresses be considered to belong to the same entity," while emphasizing that on-chain analysis itself cannot directly identify the ultimate user identity and still requires legal investigative methods combined with centralized entities such as exchanges.Chainalysis indicated that the standard proposal is currently open for discussion within the industry, hoping to promote the formation of more unified technical specifications for on-chain analysis methods in the fields of law enforcement and compliance.

The U.S. CLARITY Act is entering a critical two weeks, with multiple parties intensifying discussions during the Senate recess

According to Crypto in America, the U.S. Senate will recess until July 13, and the advancement of the CLARITY Act depends on the progress of behind-the-scenes coordination over the next two weeks. Staff from both parties, government officials, and industry stakeholders are working to resolve remaining differences, including reconciling text discrepancies between the Banking Committee and the Agriculture Committee, as well as reaching consensus on ethical standards and provisions to combat illegal financial activities.The bill requires the support of at least 60 senators to pass. Even if all 53 Republican votes are in favor, at least 7 Democratic senators will need to join; the support of the majority of Democrats may depend on whether the White House can agree to establish a strong ethical framework regarding issues related to Trump's cryptocurrency business. According to Reuters, since Trump's return to the White House, his cryptocurrency business has generated over $2 billion in new wealth for him.Additionally, major law enforcement groups still oppose the inclusion of provisions from the Blockchain Regulatory Certainty Act in the bill, arguing that it would increase the difficulty of investigating and prosecuting on-chain crimes. Remaining discrepancies in the Agriculture Committee's text include issues such as the prioritization of federal law over state law, management of conflicts of interest in exchanges, and restrictions on related-party transactions. Sources indicate that the parties have not yet reached a final agreement, and there remains uncertainty about whether the Senate vote can be completed before the August recess.

MiCA is about to come into full effect, WasabiCard strengthens its global compliance layout, empowering enterprises for a new era of stablecoin payments

With the European Union's Markets in Crypto-Assets Regulation (MiCA) officially coming into full effect on July 1, 2026, it marks the beginning of a new era of unified regulation in the European digital asset market. As the global regulatory framework continues to improve, stablecoin payments are evolving from a focus on "pure efficiency" to "compliance, transparency, and trust," accelerating their transformation into core infrastructure for enterprise-level payments.As a provider of enterprise-level stablecoin payment infrastructure, WasabiCard consistently practices a "compliance first" development philosophy. By continuously strengthening core risk control capabilities such as AML (Anti-Money Laundering), KYC (Know Your Customer), and KYB (Know Your Business), it is committed to building a secure, transparent, and sustainable foundation for global payments.As stablecoins rapidly penetrate core business scenarios such as enterprise treasury management, cross-border payments, and B2B settlements, compliance capability has become the primary consideration for enterprises when choosing payment channels. In the future, WasabiCard will leverage its core capabilities of "global issuance, stablecoin payments, global remittance, and fund distribution" to deeply integrate a comprehensive compliance system with business scenarios, helping global enterprises confidently navigate the evolving regulatory environment and significantly enhance the security and compliance efficiency of their global operations.
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