EU banking watchdog details fines for major crypto rule violations

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EU banking watchdog details fines for major crypto rule violations. The European Banking Authority (EBA) has proposed a new framework for imposing fines on issuers of significant crypto tokens that breach the EU's Markets in Crypto-Assets (MiCA) regulation, marking a tougher approach to enforcement. Under the proposal, the regulator would calculate penalties through a two-step process, first assessing the seriousness of the breach before adjusting the fine based on aggravating or mitigating factors. The consultation forms part of the implementation of MiCA, the EU's landmark crypto rulebook.

UK finalises landmark crypto regulatory framework. The UK's Financial Conduct Authority (FCA) has finalised a comprehensive regulatory framework for the crypto sector, introducing capital requirements, market abuse rules and standards for stablecoins ahead of a mandatory authorisation regime due to begin on 25 October 2027, as noted by the Financial Times on Tuesday. The framework establishes a single set of rules covering regulated crypto activities, including trading platforms, custodians, stablecoin issuers, lending and borrowing providers, staking firms and certain decentralised finance businesses with identifiable controlling entities. The FCA said crypto trading platforms will be required to carry out due diligence on listed assets, meet admission standards and publish disclosure documents.

Spain rejects any extension to MiCA licensing deadline for crypto firms. Spain's securities regulator has ruled out granting any extensions to crypto firms that fail to secure a licence under the EU's Markets in Crypto-Assets (MiCA) framework by the end of June, according to a Reuters report on 26 June. CNMV chair Carlos San Basilio said there would be no exceptions to the deadline and that the regulator is working closely with firms that have not yet been authorised to ensure an orderly exit from the market where necessary. He added that the priority is to protect investors during the transition, with unauthorised platforms required to clearly communicate their wind-down plans. Once the deadline passes, customers will no longer be able to carry out new transactions through unlicensed providers under the MiCA regime.

Germany leads EU in MiCA crypto licences ahead of deadline. Germany has emerged as the leading jurisdiction for crypto authorisations under the EU's Markets in Crypto-Assets (MiCA) framework, accounting for nearly a quarter of all licences issued ahead of the regulation's full implementation. According to data from the European Securities and Markets Authority (ESMA), Germany has granted 57 licences to crypto-asset service providers, representing around 23% of the 244 approvals issued across the European Economic Area. France ranks second with 26 licensed firms, alongside the Netherlands. The figures highlight uneven implementation of MiCA across the bloc despite its aim of creating a single European crypto market.

Trump reports $1.4 billion from crypto businesses in latest filing. US President Donald Trump reported more than $1.4 billion in income from his family's crypto ventures in his latest annual financial disclosure, underscoring the growing importance of digital assets to his business interests, as reported by Reuters on Tuesday. The filing shows that companies linked to Trump generated almost $800 million from World Liberty Financial, the crypto venture co-founded with his sons. The total included more than $520 million from token sales and over $250 million from the sale of ownership interests in the business. Trump also disclosed $635 million in income from the sale of his Trump meme coins.

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