According to U.Today, Ripple, the San Francisco-based enterprise crypto company, is facing significant challenges in the U.S., according to Cassie Craddock, the firm's managing director for the U.K. and Europe. The company is currently embroiled in a protracted legal dispute with the U.S. Securities and Exchange Commission. Ripple's CEO, Brad Garlinghouse, has frequently expressed frustration over the regulatory uncertainty in the U.S. and the SEC's antagonism towards the industry. Despite the difficulties in the U.S., Craddock revealed that Ripple is enthusiastic about the implementation of the Markets in Crypto-Asset Regulation (MiCA) framework in the EU. This pioneering cryptocurrency law, which aims to provide much-needed regulatory clarity to industry players, has put Brussels ahead of Washington and other jurisdictions in terms of clear crypto regulations. The MiCA framework initially came into effect on June 30, 2023, following approval by the European Parliament two months prior. It will be fully implemented from Dec. 30, with some provisions taking effect from this Sunday. However, not everyone in the industry shares Craddock's optimism about the new crypto regulations in Europe. Some industry executives are still puzzled by certain ambiguities in the MiCA provisions. Marina Markezic, founder of the Brussels-based European Crypto Initiative, recently expressed that many crypto companies are still uncertain about how the law will operate.

According to PANews, the US District Court in the District of Columbia has dismissed the claim by the US Securities and Exchange Commission (SEC) that secondary sales of BNB are securities. The court's decision marks a significant development in the ongoing debate over the classification of digital assets. The SEC's claim was based on the assertion that BNB secondary sales fell under the category of securities, a classification that carries specific regulatory implications. However, the court rejected this claim, providing a potential precedent for future cases involving digital assets and their classification. This decision could have far-reaching implications for the digital asset industry, potentially influencing future regulatory decisions and the legal status of various digital assets. The court's decision is a significant development in the ongoing debate over the classification of digital assets.

According to Foresight News, the stablecoin rules in the European Union's crypto asset market legislation (MiCA regulations) are set to take effect on June 30. As per Article 23 of the law, companies are required to cease the issuance of asset-referenced stablecoins. This applies to stablecoins used as a means of exchange, with daily transactions exceeding one million or a value surpassing 200 million euros (approximately 215 million dollars). The stablecoin rules will be implemented by the end of this month, while other provisions are expected to come into effect in December. A spokesperson for the European Banking Authority (EBA) stated that the establishment of a cap is intended to 'protect the monetary system'. The regulations do not prevent companies from issuing stablecoins priced in assets other than the euro. The key factor is whether they are used as a means of payment for goods or services. If so, a specific cap applies.

According to PANews, the U.S. Securities and Exchange Commission (SEC) has reportedly returned the S-1 form to a potential issuer of an Ethereum Exchange-Traded Fund (ETF). An insider revealed that the SEC has also provided a few comments, which the issuer is required to address and resubmit by July 8. The source further noted that this return of the form does not signify the final declaration. This implies that at least one more round of declaration will be necessary before the ETF can commence trading. The SEC's move is part of its regulatory oversight to ensure compliance with its rules and regulations. The potential issuer of the Ethereum ETF, whose identity has not been disclosed, is expected to address the SEC's comments and resubmit the form within the stipulated deadline. The SEC's decision to return the form with comments is seen as a step towards ensuring that all necessary requirements are met before the ETF is allowed to trade. The Ethereum ETF, once approved, will provide investors with exposure to the price movements of Ethereum without the need to own the underlying asset. This development is seen as a significant step towards the mainstream adoption of Ethereum and other cryptocurrencies.

According to Odaily, the Supreme People's Court and the State Administration for Market Regulation in China have jointly released five typical cases of legally punishing online pyramid schemes. One of these cases involves a fraudulent investment promising high returns through 'virtual currency'. In early 2018, the defendant, identified as Chen, and others used blockchain as a gimmick to set up a 'Token' online platform to carry out pyramid selling activities. Participants were required to obtain the platform's membership account through online referrals and pay a virtual currency worth more than $500 as a threshold fee to receive value-added services. They could use the platform's 'smart dog brick-moving' technology to carry out arbitrage trading in different trading venues and obtain platform income. To evade crackdown, Chen and others moved the platform's customer service group and coin-dialing group abroad in January 2019 and continued to carry out pyramid selling activities with the 'Token' online platform. According to statistics, the 'Token' online platform registered more than 2.6 million member accounts, reaching 3293 levels, and collected more than 9 million various virtual currencies paid by members, including Bitcoin, Tether, and EOS. The People's Court of Yancheng Economic and Technological Development Zone in Jiangsu Province sentenced Chen to eleven years in prison and a fine of six million yuan for organizing and leading pyramid selling activities. The remaining defendants were sentenced to imprisonment ranging from eight years and eight months to two years, and fines were imposed. The illegal gains were recovered and confiscated, and turned over to the state treasury. After the first-instance judgment, Chen and others appealed. The Intermediate People's Court of Yancheng City in Jiangsu Province ruled to reject the appeal and uphold the original judgment. The People's Court, based on the position and role of the organizers and leaders of cross-border online pyramid selling activities in the entire crime chain, imposed corresponding penalties and legally confiscated the involved Bitcoin and other virtual currencies. This cut off the defendant's economic ability to commit cross-border crimes again, demonstrating the judicial authorities' determination to defend internet financial security and maintain the stable and healthy development of the financial market.

According to Odaily, Nikita Andreevich Sklyuev, also known as Valeriy Dorojkin, has been extradited from Ukraine and is facing trial in Buffalo, New York. He is charged with telecommunications fraud and fraudulent use of unauthorized access devices. Sklyuev is accused of submitting a malicious cryptocurrency wallet application, 'EOSIO Wallet Explorer', to the Apple App Store in June 2018. The application claimed to be a legitimate cryptocurrency wallet, but its purpose was to steal users' private keys, enabling Sklyuev to access their funds. In September 2018, a victim in western New York installed the application and lost approximately $11.8 million in cryptocurrency. Sklyuev later transferred these funds to multiple online wallets under his control. The charges against Sklyuev carry a maximum sentence of 20 years in prison and a fine of $250,000. Sklyuev is set to attend a detention hearing on July 3, 2024.

According to Odaily, Consensys has released an official statement in response to enforcement actions by the Securities and Exchange Commission (SEC). The blockchain software technology company anticipates that the SEC will continue its threats against them, insisting that their MetaMask software interface must be registered as a securities broker. The SEC has been pursuing an anti-cryptocurrency agenda through temporary enforcement actions. This is the latest example of its over-regulation behavior, a transparent attempt to redefine established legal standards through litigation and expand the SEC's jurisdiction. Consensys firmly believes that the SEC has not been granted the power to regulate software like MetaMask. The company will continue to actively advance their case in Texas, as it not only concerns their company but also the future of Web3. This statement comes amid increasing scrutiny of cryptocurrency and blockchain technology by regulatory bodies.

According to Odaily, the United States Securities and Exchange Commission (SEC) has classified the staking projects of Lido and Rocket Pool as securities. This decision by the SEC is based on market information and is significant for the future operations of these projects. Lido and Rocket Pool are both prominent projects in the cryptocurrency industry, offering staking services to their users. The classification of these projects as securities by the SEC implies that they will now be subject to the regulations and requirements that govern securities in the United States. This development could potentially impact the way these projects operate, as they will now have to comply with the stringent rules and regulations set by the SEC for securities. This could also influence the decisions of potential investors, as the classification as securities might change the risk profile of these projects. The SEC's decision is a clear indication of the increasing scrutiny of the cryptocurrency industry by regulatory bodies. It highlights the need for crypto projects to ensure compliance with existing regulations to avoid potential legal issues. The impact of this decision on Lido and Rocket Pool, as well as the broader crypto industry, will be closely watched in the coming months.

According to Odaily, the value of LDO has fallen below 2.1 USDT, currently standing at 2.099 USDT, marking a 24-hour decrease of 11.07%. This drop comes in the wake of the U.S. Securities and Exchange Commission's (SEC) classification of Lido and Rocket Pool staking projects as securities. The SEC's decision has had a significant impact on the market value of these projects, leading to a decrease in the value of LDO. The market is closely monitoring the situation, as the classification of these projects as securities could have far-reaching implications for the broader cryptocurrency market.

According to BlockBeats, Federal Reserve Board Member Bowman expressed on June 29 that there seems to be a lack of interest from Congress regarding central bank digital currencies. This statement suggests that the development and implementation of such currencies may face challenges due to the apparent disinterest from legislative bodies. Further details on this matter were not provided in the original report.

According to Odaily, the US Supreme Court has overturned the Chevron Deference, a significant administrative law in the country. The Chevron Deference grants federal agencies the power to interpret ambiguous laws. With its overturning, the US Securities and Exchange Commission (SEC) and other federal agencies may no longer possess the ability to formulate rules. The Chevron Deference has been a cornerstone of US administrative law, providing federal agencies with the authority to make decisions when laws are unclear. This decision by the Supreme Court could have far-reaching implications for the functioning of federal agencies, including the SEC. The SEC, among other federal agencies, has relied on the Chevron Deference to interpret and implement laws within its jurisdiction. The overturning of this law could potentially impact the SEC's ability to enforce securities laws and regulations. This development could lead to significant changes in the way federal agencies operate and enforce laws in the United States.

According to Odaily, the Astana Financial Services Authority (AFSA) in Kazakhstan has announced that it has reviewed and approved Toncoin for trading on its licensed platforms. After a comprehensive review, the AFSA has determined that Toncoin meets the regulatory standards set by the AFSA. This approval allows investors to trade Toncoin on AFSA-licensed platforms, providing them with protection. The AFSA's decision comes after a thorough examination of Toncoin's compliance with the regulatory standards. This move is expected to provide a secure trading environment for investors, as they can now trade Toncoin on platforms that are licensed and regulated by the AFSA. This is a significant step forward for Toncoin, as it continues to gain recognition and acceptance in the global cryptocurrency market.

According to PANews, the Hong Kong Securities and Futures Commission (SFC) has issued a public warning against entities operating under the names 'Tokencan', 'Hong Kong Wei Coin Crypto Assets', and 'HKD.com Corporation'. These entities are suspected of engaging in fraudulent activities related to virtual assets and/or claiming to operate virtual asset trading platforms in Hong Kong without a license. The Hong Kong Police Force has taken action to block related websites and social media pages. The SFC has also added Tokencan, Hong Kong Wei Coin Crypto Assets, and HKD.com Corporation, along with their respective websites, to its warning list. The SFC has advised the public not to trade virtual assets on unregulated trading platforms. If a platform ceases operations, goes bankrupt, is hacked, or if any assets are misappropriated, investors may potentially lose all investments held on that platform.

According to BlockBeats, major stablecoin issuers, including Tether and Circle, are facing imminent compliance pressure as the European Union's strict rules for stablecoin issuers are about to take effect. The new regulations, set to be implemented after June 30, require issuers operating in the 27 member states to obtain appropriate authorization and adhere to strict limits on transaction volume and value set in the MiCA legislation. Under the law, companies must cease issuing transaction medium-type assets referring to stablecoins with a daily transaction volume exceeding one million transactions or a daily transaction value exceeding 200 million euros. Although the European Banking Authority (EBA) has not yet clarified how these metrics will be measured, it is expected to release a final report soon. The impending regulations are part of the EU's efforts to regulate the burgeoning cryptocurrency market and ensure the stability of the financial system. The move is expected to have significant implications for the stablecoin market, potentially affecting the operations of major issuers like Tether and Circle. The new rules underscore the increasing scrutiny of cryptocurrencies by regulators worldwide, reflecting concerns about potential risks to financial stability and consumer protection.

According to Odaily, the European Banking Authority (EBA) has announced plans to release a final report on the regulation of stablecoin issuers by the end of this month. Major stablecoin issuers such as Tether and Circle are expected to face stringent regulation from the European Union (EU) soon. Under the new rules that came into effect on June 30, these companies will need to obtain appropriate authorization to operate within the trade zones of the 27 countries. They will also face strict limitations on transaction volumes and values under the Markets in Crypto Assets (MiCA) legislation. Robert Kopitsch, the Secretary-General of the European Blockchain, has stated that these regulations could mean that some of the largest stablecoin issuers, including Tether and Circle, may not be able to operate within the EU.

According to BlockBeats, on June 28, Paradigm submitted an opinion to the European Securities and Markets Authority (ESMA) on the prevention of market abuse in the crypto asset sector. Paradigm emphasized that ESMA should avoid misapplying traditional financial market concepts to the underlying blockchain layer when dealing with Maximum Extractable Value (MEV), to prevent inconsistencies and unintended consequences. Paradigm urged ESMA to deepen its understanding of MEV and support innovative tools to address potential abuse risks. At present, there is no universally accepted method to identify which activities related to MEV are harmful or suspicious. Therefore, requiring the ecosystem to monitor and prevent essentially subjective behaviors could lead to inconsistent applications and unexpected outcomes.

According to Foresight News, the US Supreme Court has made a ruling that the US Securities and Exchange Commission (SEC) can no longer use internal judges to handle civil securities fraud cases. This decision has stripped the agency of a key enforcement tool. The ruling is a significant setback for the SEC, which has relied on its internal judges to adjudicate civil securities fraud cases. The decision by the Supreme Court effectively removes a crucial instrument from the SEC's enforcement arsenal. This development could potentially impact the way the SEC handles future civil securities fraud cases. The agency will now have to find alternative methods to deal with such cases, which could lead to changes in its enforcement strategies.

According to BlockBeats, the UK's Financial Conduct Authority (FCA) is reportedly clearing its 'backlog of business' and approving an increasing number of cryptocurrency company registrations. The FCA plans to expand its cryptocurrency business staff to 100. Steve Smart, the Joint Executive Director in charge of enforcement and market oversight at the FCA, stated in a recent speech that the registration process for cryptocurrency companies is accelerating under the regulatory body. This is due to the FCA's efforts to assist these companies in better understanding the registration process.

According to Odaily, as the Markets in Crypto Assets (MiCA) framework nears its first deadline, EU market regulators and crypto platforms are set to expel stablecoins that do not meet reserve requirements, governance rules, and safeguard measures. In response to this, the European Banking Authority is recruiting crypto experts to oversee the implementation of crypto and cybersecurity laws. The MiCA framework, a regulatory structure for the crypto asset market, is nearing its initial deadline. This has prompted action from EU market regulators and crypto platforms. They are preparing to expel any stablecoins that fail to comply with the necessary reserve requirements, governance rules, and safeguard measures. These measures are crucial to ensure the stability and security of the crypto market. In a move to ensure effective implementation of these regulations, the European Banking Authority is actively recruiting crypto experts. These experts will be responsible for overseeing the enforcement of crypto and cybersecurity laws. Their role will be pivotal in maintaining the integrity of the crypto market within the EU, ensuring that all active stablecoins adhere to the set regulations.

According to Odaily, the US Supreme Court has recently made a ruling with a 6 to 3 vote. The decision states that when the US Securities and Exchange Commission (SEC) seeks to penalize fraudulent activities, the defendant has the right to a jury trial in a federal court, rather than accepting the agency's internal legal proceedings. This information was disclosed by Fox Business reporter Eleanor Terrett on platform X. This ruling could potentially change the way the SEC handles cases of fraudulent activities in the future.