Celsius founder Alexander Mashinsky settled an FTC case with a $10 million payment linked to a mostly suspended $4.72 billion judgment. The order permanently bans him from asset-related promotions and preserves the FTC's option to revive the full amount over disclosure issues.
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Taiwan's Legislative Yuan passed the Virtual Asset Service Act on June 30, requiring licenses for all virtual asset service providers and strict reserve rules for stablecoins. The law shifts the island from light-touch AML registration to full FSC supervision with steep criminal penalties.
The SEC has launched a 60-day comment period to rethink its rules for novel ETFs, including crypto-focused products, questioning whether providers investing in non-securities qualify as investment companies. The move could pave the way for a wider range of assets under an automated approval process that fueled growth from $4 trillion in 2019 to $12 trillion in 2025.
The European Banking Authority published a consultation paper outlining fines of up to 12.5% of annual revenue for significant token issuers that violate MiCA rules. The framework arrives days before a July 1 licensing deadline that will force many crypto firms to halt EU operations or face exactly the penalties now detailed.
Binance has withdrawn its MiCA license application in Greece and will pursue authorization in another EU country instead. The decision comes days before a July 1 deadline that could force the exchange to shut down operations for millions of users across the bloc if it lacks a license in at least one member state.
ESMA has ordered unlicensed crypto firms to stop serving EU clients and wind down operations before the MiCA authorization deadline of July 1, 2026. The move ends the transitional period for the EU's unified crypto rulebook and limits services to orderly client exits while maintaining AML obligations.
