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Edition · 2026-07-04
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Binance withdrew its MiCA license application in Greece and halted some services and new registrations for EU users less than 10 days before the July 1 deadline, according to its head of Europe Gillian Lynch. MiCA is the European Union’s Markets in Crypto‑Assets regulation that requires crypto firms to obtain national licenses and be supervised by the European Securities and Markets Authority. Binance said it will suspend certain services and stop accepting new EU registrations while remaining committed to securing a license and staying in Europe. Lynch argued that MiCA’s success should be measured by how many firms are brought into the regulated system rather than by the existence of the rulebook. She defended Binance’s anti‑money‑laundering controls and denied allegations in a Wall Street Journal report that the exchange failed to report suspicious activity. Binance said it identified problematic accounts, off‑boarded them and reported them to law‑enforcement authorities, contrary to the Journal’s characterization. The exchange also rejected claims that it ignored sanctions or retaliated against compliance staff, calling those allegations categorically false. Binance had previously sued the Journal over reporting on Iran‑linked accounts earlier in the year. Private advice from ESMA to national regulators highlighted compliance concerns that contributed to the withdrawal. Binance expects its next application to proceed quickly after completing prior steps with Greece’s Hellenic Capital Market Commission, though board meetings were repeatedly postponed. The company has invested more than $300 million annually in compliance and employs over 1,500 compliance staff worldwide. Analysts note that many crypto service providers may not survive MiCA, potentially forcing over 10 million users to migrate to approved platforms. Binance said it remains committed to Europe and to being regulated, viewing MiCA as a positive step for industry maturity and planning to help customers transition before pursuing a new licensing strategy.
Gnosis Pay said a software flaw dating to October 2023 allowed a $1.5 million exploit of its card safe infrastructure and that all affected users have been reimbursed. The vulnerability, identified in version 3.4.0 of the Zodiac smart contract framework, remained undiscovered since Oct. 30, 2023, and was exploited on June 1. Monitoring systems operated by treasury manager NOCA detected the first unauthorized transfer at 06:17 UTC on June 1. Engineers identified the root cause within two hours and suspended card services, temporarily halted the bridge to Gnosis Chain, and provided attacker wallet addresses to stablecoin issuers to aid tracing. Gnosis Pay notified other projects that could have been exposed. Recovery efforts restored access in phases; new card‑safe modules were deployed, allowing the first affected accounts to regain balance and payment‑card functionality by the night of June 3. Service was restored for 99 % of users by June 6, with the remaining accounts recovered shortly afterward. The company absorbed the financial loss itself, resulting in no loss for customers. Approximately $300,000 of assets have not yet been recovered, and recovery efforts are ongoing. The postmortem disclosed that 5,281 wallets holding at least $1 were affected and that the stolen assets included GNO, EURe, USDC.e, and other digital tokens. Gnosis Pay published the attacker’s wallet address, 0x5a7…7a35, and noted that the exploit targeted the Delay Module and the Roles Module within its card safe infrastructure. The disclosure follows other security events in the crypto sector, including a $36 million exploit at Humanity Protocol that accelerated its restructuring and its shift toward enterprise artificial intelligence products, as stated by founder Terence Kwok. G7 leaders also issued a joint statement calling for coordinated action against North Korea’s cryptocurrency thefts and cybercrimes, linking stolen digital assets to financing of nuclear and missile programs.
The GENIUS Act, enacted on July 18, sets a one-year deadline for federal and state regulators to finalize rules governing stablecoin issuance in the United States.
Stablecoins collectively held about $311.5 billion in market capitalization as of June, with USDT and USDC accounting for roughly 80 percent of the total.
Section 13 of the law requires regulators to produce implementing regulations within 12 months, after which issuers must meet reserve composition standards, conduct monthly independent audits, maintain licensing, and implement anti‑money‑laundering programs under the Bank Secrecy Act.
The framework classifies stablecoin issuers as financial institutions, mandating transaction monitoring, sanctions screening, and customer due diligence, and it bars issuers from paying interest on token holdings.
Reserve assets must be held in highly liquid, government‑backed instruments such as Treasury bills, overnight repos, or SEC‑registered money market funds, and auditors must certify reserve reports each month.
Fixed compliance costs are estimated at around $15 million annually, covering legal review, audit, AML systems and licensing, a amount that is similar for issuers regardless of whether they manage $200 million or $2 billion in stablecoins.
Consequently, the cost as a share of gross reserve income varies widely: a $200 million issuer would spend more than its entire annual reserve income, while a $10 billion issuer would allocate about 4 percent of its income to compliance.
The law also provides a pathway for issuers with less than $10 billion in outstanding stablecoins to register at the state level if the state regulatory regime is deemed substantially similar to the federal framework.
Industry participants such as Visa, Mastercard, Coinbase and more than 140 other firms are developing Open USD, a stablecoin that would share reserve earnings with participants once management fees are removed.
McCluskey said the reserve rules are the definitive catalyst, overshadowing all other implementation variables.
A timeline graphic indicates that the rulemaking deadline is July 2026 and that, beginning July 18 2028, stablecoins issued by non‑permitted entities will lose exchange access for U.S. users.
Issuers now must determine whether they can meet the compliance burden or transition to state regulation before the July 2026 deadline, and the July 2028 restriction on non‑compliant stablecoins may reshape market access.
Major County Sheriffs of America said it has withdrawn its opposition to the DeFi provision of the CLARITY Act and adopted a neutral stance after reviewing the legislation.
By · 53d ago · Source: cryptonews
Major County Sheriffs of America said it has withdrawn its opposition to the DeFi provision of the CLARITY Act and adopted a neutral stance after reviewing the legislation. The organization proposed amendments that would give state and local law enforcement agencies a formal role in the Treasury study required by Section 309 of the bill and in any advisory groups created under the law. The sheriffs noted that continued discussions with the Trump administration provided additional clarity on how the DeFi language would be interpreted if enacted. While the group did not endorse the provision unconditionally, it emphasized the need for adequate funding and resources for state and local authorities tasked with enforcement. The National Organization of Black Law Enforcement Executives (NOBLE) also expressed support, saying the act would enhance investigative capabilities while preserving existing enforcement powers. Senate leaders have reset the legislative schedule, with the final text expected to be released this weekend and floor debate slated for after the July 13 recess. Bloomberg Intelligence estimates a roughly 60% probability of the CLARITY Act passing in July, and Polymarket indicates more than 50% odds that President Trump will sign it before the end of the year. Senator Kirsten Gillibrand has continued to call for ethics restrictions on crypto activity by members of Congress as the Senate prepares to consider the bill.
Crunchyroll announced that it will begin streaming Demon Slayer: Kimetsu no Yaiba Infinity Castle – Akaza Sairai, the first film in the Infinity Castle trilogy, on July 28 worldwide outside Japan and Mainland China, with simultaneous digital purchase options on platforms such as Apple TV, Prime Video, Google Play, YouTube and Fandango. The film premiered in Japan on July 18 2025 and remained in theaters for 266 days, selling 27,455,968 tickets and generating 40,200,019,000 yen (about $252.5 million). It has earned 117,917,539,329 yen (about $740.5 million) worldwide, becoming the first Japanese film to surpass 100 billion yen in global box office revenue. As of November 16 2025, the film had sold 89,177,796 tickets and earned 106,370,568,950 yen (about $685 million), ranking seventh among worldwide 2025 releases and third among animated films globally. It also placed second in Japan’s all‑time box office earnings, surpassing Spirited Away. The film opened in the United States and Canada on September 12 2025 and returned to North American theaters on March 6 2026, with Sony Pictures Entertainment providing SCREENX screenings. It received multiple industry honors, including Best Animated Film at the 49th Japan Academy Film Prizes, Animation of the Year at the Tokyo Anime Award Festival, and an honorary “Animation is Cinema” award at the Astra Film Awards, and was nominated for Best Motion Picture – Animated at the Golden Globes and Best International Animated Film at the Saturn Awards. The streaming launch follows the film’s theatrical success and expands its availability to a global audience.
St. Petersburg Mayor Ken Welch announced his selection of The Burg Bid as the preferred plan for redeveloping Tropicana Field and the surrounding Historic Gas Plant District, a proposal that outlines an $8.1 billion mixed‑use development.
The plan calls for purchasing 58 acres of city‑owned land for $275 million and constructing 3,600 income‑restricted housing units over 15 years, along with a museum, cultural park, workforce training center, hotels, offices and retail space.
The development would be organized around Samuel Davis Park, a 13‑acre civic and cultural space that would house the Woodson African American Museum of Florida and other amenities, and would include a 4,000‑to‑5,000‑seat Resilience Event Center designed to serve as a generator‑powered hurricane evacuation shelter.
The project is divided into three five‑year phases; Phase 1 would establish cultural and workforce anchors such as the Woodson and the Collaboratorium, Phase 2 would add mixed‑income neighborhoods and expand connections to existing arts districts, and Phase 3 would complete the district with additional retail, hotel and event facilities. Partners include Blue Sky Communities, the Pinellas County Housing Authority, CareerSource Tampa Bay, the St. Petersburg Chamber of Commerce and other local organizations.
The proposal must be negotiated with the development team, approved by the City Council and could be affected by the upcoming mayoral election; Council Member Brandi Gabbard has called for a slower review and questioned the wisdom of selling the land outright versus using long‑term ground leases.
Louisiana’s Supreme Court on Friday granted a stay of a 16‑count criminal indictment against Attorney General Liz Murrill, a Republican who became the state’s first female attorney general. The court said the grand jury process and the trial‑court’s handling contained significant procedural defects and ordered the stay to allow Murrill to file defensive pleadings such as motions to quash. The indictment, unsealed Thursday, alleged that Murrill tried to intimidate New Orleans officials over a Republican‑led law restructuring the city’s courts. Murrill moved for a stay on Thursday, and the supreme court approved it early Friday, noting that the indictment could be used to file motions to quash or to seek recusal of the special prosecutor or trial judge. Governor Jeff Landry said he would pursue a swift pardon, describing the case as a “kangaroo court.” Murrill called the charges “retaliatory, meritless and unconstitutional” in a post on X, adding that she would continue to perform her duties. The special prosecutor, former judge Laurie White, previously represented ex‑court clerk Calvin Duncan, who argues his removal from office was politically motivated. Murrill’s office also represented White in a separate state lawsuit that was dismissed for alleged inappropriate conduct at a Christmas party. The indictment stemmed from a secret grand jury session; a New Orleans judge sealed the courtroom and ordered journalists to leave, leading to the handcuffing of a station producer and the outlet’s attorney. A court spokesperson said grand jurors must be present when indictments are returned to protect their anonymity, but the supreme court found the closure violated state law requiring public returns. The stay does not prevent Murrill from filing motions for recusal or responses thereto, and the legal dispute over the indictment’s validity remains unresolved.
An Associated Press-NORC poll conducted in April found that pride in the United States' history, democracy and national identity has fallen since 2017. Pride in the way democracy works dropped 14 percentage points, from 42% in February 2017 to 28% in 2024. Pride in the armed forces declined 19 points, and pride in the nation's history fell 14 points. The Gallup poll, also released in April, reported that 53% of U.S. adults are "extremely" or "very" proud to be American, the lowest level since 2001. Among party identifiers, 70% of Republicans expressed extreme or very high pride, compared with 14% of Democrats and 28% of independents. About 90% of Republicans said the military makes them extremely or very proud, versus roughly 60% of all adults.
The decline is driven largely by Democrats, whose share of extremely or very proud Americans fell from 44% in 2017 to 14% in 2024, while independents shifted from 30% to 28% and Republicans from 72% to 70%. Younger adults are less likely than older adults to consider being American highly important to their personal identity; roughly 75% of respondents aged 60 and older said the identity is extremely or very important, compared with about one-third of those under 30.
Race and ethnicity also affect identity importance. Seventy-three percent of Black Americans said their race or ethnicity is extremely or very important, compared with 50% of Hispanic Americans and 22% of White Americans. Vincent Harris, a 60-year-old Black man from California, said his identity as a Black man is paramount because of how Black men are treated in the United States. "A lot of people are scared of Black men just because we are Black and we are male. And that's crazy," he said. "People don't even take you for who you are as a person; they just look at your race." He added that being an American is "a wonderful thing" because of the freedoms it affords, despite obstacles he has faced.
Samantha Fulks, a Republican from Texas, said she is proud to be American and displays that pride with flags in her yard. "I still support our troops no matter what they do," she said, noting that she views the United States' involvement in Iran as unnecessary but remains supportive of the military.
Matt Stafford, a centrist from Massachusetts, said he loves America but is frustrated by political extremes on both sides. "I love America, but our biggest problem is how we're pushing both sides — like the left and the right — to the extremes," he said. He described himself as politically homeless and called for greater cooperation between parties to serve middle-America constituents.
Americans expressed frustration over President Donald Trump's reported earnings of more than $1 billion from his cryptocurrency businesses while serving as president, according to recent financial disclosures.
A survey conducted by The Guardian collected responses from more than 400 readers who described feelings of outrage, disgust and despair about the president's wealth amid concerns about high gas and grocery prices.
Financial disclosures filed with the Office of Government Ethics indicated that Trump's crypto ventures generated revenue exceeding $1 billion after he took office. Critics argued that the earnings could create a conflict of interest given his policy decisions on energy and consumer costs. The White House declined to comment when asked for clarification.
Ethics experts said the disclosures will be reviewed by congressional oversight committees, and the public response highlights ongoing concerns about the intersection of presidential policy and personal business interests.
The United States and Israel began a joint military campaign against Iran four months ago. President Trump announced that US officials would meet with Iran in Qatar the next day, but Iran said no negotiations were scheduled and only low‑level talks took place later. Both countries have continued to strike despite signing a memorandum of understanding on June 17 that called for a ceasefire.
The fighting has resulted in about 3,500 deaths in Iran and 4,300 in Lebanon, according to health ministries in each country. Analyst Nate Swanson of the Atlantic Council said Netanyahu’s conduct weakened US relationships in the region and made a large‑scale war with Iran more likely even before 2026. He noted that before the war the United States held significant leverage and Iran was open to a deal tougher than the 2015 Joint Comprehensive Plan of Action, but the 12‑day war reduced those prospects.
Swanson said a Trump administration would have authorized the strikes carried out in June and February, whereas a Biden administration likely would have avoided them, emphasizing de‑escalation and the protection of Israel and Gulf allies. He added that the Abraham Accords had been moving toward normalization between Israel and Gulf Cooperation Council members, but the October 7 attacks damaged Saudi‑Israeli talks and led Gulf states to view the United States as a liability, especially when their bases are targeted.
Vice President Vance recently said Iran has agreed to nuclear inspections, suggesting a possible return to limited aspects of the JCPOA. However, he cautioned that a full restoration of the original agreement is unlikely and that a comprehensive phase‑two deal is improbable.
Iran’s nuclear program has advanced, with more efficient centrifuges that accelerate enrichment and shorten the time needed to produce a weapon compared with the JCPOA era. Oil exports fell to a few hundred thousand barrels per day after the 2018 withdrawal from the JCPOA but have risen to about 1.7 million barrels per day, largely sold to China, and a new memorandum would allow Iran to sell oil without sanctions for the first time since the deal.
Iranian negotiations involve multiple officials, including Foreign Minister Abbas Araghchi, Parliament Speaker Mohammad Bagher Ghalibaf, and the Revolutionary Guard Corps, with consensus required among several parties, complicating prospects for a deal. Swanson said the current memorandum terms are unfavorable and reflect the failure of the war, and while the United States seeks to end the conflict, deep mistrust and complex internal politics make a comprehensive agreement unlikely.
This edition was assembled from neutral, agent-rewritten summaries of the day's aggregated news.
Why it matters: Every article was reviewed for loaded language, partisan framing, and missing attribution before publication.
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