Crédit Agricole launched EURXT, a euro-backed stablecoin compliant with the EU's MiCA framework, with 20 million tokens in circulation. The MiCA regulation is now fully in force, requiring crypto firms to obtain a license across the bloc, while Ethereum Institutional launched as a nonprofit backed by Joseph Lubin to help institutions adopt Ethereum. Industry leaders say MiCA strengthens transparency and investor protection in Europe's digital asset market.
Crédit Agricole Launches EURXT Stablecoin Under MiCA Framework
Crédit Agricole, France's second-largest bank by assets, launched EURXT, a euro-backed stablecoin fully compliant with the EU's MiCA framework. The token debuted with 20 million EURXT in circulation and has already been used to settle a subscription into a tokenized Amundi money market fund.
EU MiCA Regulation Enforces Licensing Across Crypto Firms
The EU's Markets in Crypto-Assets (MiCA) regulation is now fully in force, requiring crypto firms to obtain a license to operate across the bloc. Industry leaders say the unified framework strengthens transparency, investor protection and banking relationships.
Ethereum Institutional Forms Nonprofit for Enterprise Adoption
Ethereum Institutional launched as an independent nonprofit to help financial institutions adopt Ethereum for tokenization, stablecoins and onchain finance. The initiative is backed by industry leaders including Ethereum co-founder Joseph Lubin and provides enterprises with a dedicated gateway to the Ethereum ecosystem.
Open Standard Initiative Announces USD Stablecoin Launch
More than 100 financial institutions, fintechs, banks and crypto firms, including Visa, Stripe, BNY Mellon, BlackRock and Coinbase, joined the Open Standard initiative to launch a U.S. dollar-backed stablecoin later this year. The alliance aims to build an open, interoperable payment infrastructure.
SEC Opens 60-Day Consultation on ETF Modernization
The SEC opened a 60-day public consultation to modernize ETF regulations, potentially expanding eligibility to crypto, prediction markets and other novel assets. The review comes as the U.S. ETF market has grown from $4 trillion in 2019 to $12 trillion in 2025.
UK FCA Finalizes Crypto Regulatory Framework
The UK's Financial Conduct Authority finalized a comprehensive regulatory framework covering crypto trading platforms, stablecoins, custody, staking and market abuse. The new regime provides regulatory certainty ahead of mandatory authorization in October 2027.
U.S. Bitcoin ETFs Record $4.1 Billion Monthly Outflows
U.S. spot Bitcoin ETFs are on pace for a record $4.1 billion in monthly outflows, with BlackRock's IBIT accounting for nearly $3 billion. Uncertainty surrounding Strategy's financing model has raised concerns over one of Bitcoin's largest corporate buyers.
Binance Withdraws MiCA License Application in Greece
Binance withdrew its MiCA license application in Greece after European regulators raised concerns over the exchange's history of financial crime compliance. The setback temporarily limits Binance's ability to operate across the European Union under the MiCA regulatory framework.
BitGo Cuts 15% of Workforce Amid Profitability Challenges
Crypto infrastructure firm BitGo cut 15% of its workforce as it refocuses on security, stablecoins, settlement and AI-powered infrastructure. The restructuring follows a quarter in which revenue grew 112.6% year over year, but net losses widened to $60.7 million.
Edel Finance Pauses Protocol After $403,000 Bad Debt Incident
Edel Finance paused its lending protocol after an attacker manipulated the collateral value of a tokenized Google stock, creating approximately $403,000 in bad debt. The incident highlights security risks in tokenized assets and DeFi.
South Korea Refers Two for Crypto Market Manipulation Prosecution
South Korea's Financial Services Commission referred two individuals for prosecution over alleged crypto market manipulation, including a whale accused of accumulating nearly half of a token's circulating supply before executing a pump-and-dump scheme.
Florida Man Pleads Guilty to $250 Million Crypto Ponzi Scheme
A Florida man pleaded guilty to operating a crypto Ponzi scheme that caused at least $250 million in investor losses after raising more than $400 million through false promises of returns from crypto liquidity pools.
FAQ
What did Crédit Agricole do with its EURXT stablecoin?
Crédit Agricole launched EURXT, a euro-backed stablecoin compliant with the EU's MiCA framework, with 20 million tokens in circulation. The token was used to settle a subscription into a tokenized Amundi money market fund.
Why did Binance withdraw its MiCA license application in Greece?
Binance withdrew its MiCA license application in Greece after European regulators raised concerns over the exchange's history of financial crime compliance. The withdrawal temporarily limits Binance's ability to operate across the European Union under the MiCA regulatory framework.
How much did U.S. spot Bitcoin ETFs lose in monthly outflows?
U.S. spot Bitcoin ETFs are on pace for a record $4.1 billion in monthly outflows, with BlackRock's IBIT accounting for nearly $3 billion of that total.
