Circle Was Top Depositor Aided by SVB Government Rescue: Bloomberg
The FDIC guarantee included over $3.3 billion the USDC stablecoin issuer held at the lender.
Policy
Australian Payment Provider Cuscal Imposes New Restrictions on Crypto; Industry Body Criticizes Move
Payments provider Cuscal, through its partner Zepto, has brought new banking restrictions on cryptocurrency exchanges in Australia.
UK Crypto, Stablecoin Laws Approved by Parliament’s Upper House
The Financial Services and Markets Bill stands to recognize crypto as a regulated activity and stablecoins as a means of payment.
EU Legislation for Digital Euro Is Put on Hold: Source
A bill covering privacy and distribution of the central bank digital currency, originally scheduled for June 28, will be delayed
Do Kwon Sentenced to 4 Months Jail in Montenegro Document Forgery Case
The court has also ordered the confiscation of two Costa Rican passports, two Belgian passports and two identity cards belonging to Kwon and fellow Terra executive Han Chang-Joon.
UK Financial Watchdog Cancels Binance Permissions on Firm’s Request
U.K.’s Financial Conduct Authority said Binance’s local unit is no longer authorized to provide any regulated services in the country.
Binance, SEC Strike Deal to Move All U.S. Customer Funds, Wallet Keys Back Onshore
Binance, Binance.US and the Securities and Exchange Commission (SEC) announced a deal to ensure that only Binance.US employees could access customer funds late Friday.
CFTC to Review Prediction Market Kalshi’s Contracts to Bet on Control of Congress
The Commodity Futures Trading Commission will decide on June 26 whether to start a formal 90-day review of prediction market provider KalshiEX’s contract that allows users to bet on which party takes control of the U.S. Congress.
U.S. Banking Watchdog Makes Case for Tokenization, Just Not on Public Blockchains
Self-styled crypto skeptic Michael Hsu, the acting head of the U.S. Office of the Comptroller of the Currency (OCC), said tokenization of assets is a serious advance into the future of finance, but decentralized blockchains may be too problematic to handle that movement.
Politics Is Interested in Crypto, Even if Crypto Isn’t Interested in Politics
If U.S. policymakers want to help direct crypto, benefitting consumers an innovation, they will need to learn to compromise, says John Rizzo.