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• Jul 1, 5:00 PM Decrypt

  Polymarket becomes the largest 2024 presidential election prediction platform

  Bernstein Research identifies Polymarket as the largest blockchain-based prediction market for the 2024 US presidential election, highlighting its role in enhancing transparency and efficiency in political betting. The platform, running on the Ethereum-Polygon blockchain, has amassed over $200 million in bets, with current odds favoring former President Donald Trump at 63%. The analysis also underscores a significant decline in bets on President Joe Biden, reflecting recent shifts in public sentiment and market dynamics.

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• Jul 1, 3:00 PM Coindesk

  Circle become first stablecoin isser to earn license under EU's new MiCA regulation

  Circle has secured the first global stablecoin issuer license under the new EU Markets in Crypto-Assets (MiCA) rules, allowing it to issue both EURC and USDC in the EU. Circle Mint France, a subsidiary granted an Electronic Money Institution (EMI) license by French authorities, will facilitate the issuance. This move follows regulatory shifts that have led to the delisting of certain other euro-denominated stablecoins like Tether’s EURT.

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• Jul 1, 1:56 PM Matthew Sigel

  VanEck confirms Solana ETF filing is influenced by US presidential election outcome

  Matthew Sigel, VanEck's Head of Digital Asset Research, supported claims that their recently filed Solana ETF is strategically positioned in anticipation of a potential Donald Trump victory in the upcoming US presidential elections.

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• Jul 1, 1:30 PM Cointelegraph

  Ethereum's Vitalik Buterin proposes single-slot finality for faster transactions

  Ethereum co-founder Vitalik Buterin suggests transitioning to a single-slot finality (SSF) system to significantly reduce Ethereum Layer-1 transaction confirmation times from seconds to milliseconds. This proposal comes after the Ethereum Merge to proof-of-stake, which already reduced confirmation times to a range of 5–20 seconds. SSF aims to enhance user experiences and accommodate applications requiring lower latency, despite the associated challenges and the potential for increased network congestion.

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• Jul 1, 12:40 PM Crypto Briefing

  Tether partners with Uquid to enable USDT payments for social security in the Philippines

  Tether, in collaboration with Uquid, has launched a service allowing Philippine citizens to use USDT for making Social Security System contributions on the TON blockchain. This initiative represents a significant advance in integrating crypto into routine financial transactions, particularly for government services. It underscores the expanding role of stablecoins like USDT in both everyday and institutional financial activities, while also highlighting ongoing efforts in the Philippines to foster a regulatory environment conducive to crypto and blockchain innovations.

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• Jul 1, 11:30 AM Crypto Briefing

  Ethereum sees largest outflows, labeled worst performer in net flows for the year

  Ethereum has been identified as the worst-performing asset in terms of net flows this year, experiencing its largest weekly outflow of $60 million since August 2022, according to CoinShares. In a broader context, while the crypto market saw inflows in some regions and assets, Ethereum-indexed Exchange-Traded Products (ETPs) suffered $119 million in total outflows over the past two weeks. Conversely, Bitcoin and multi-asset ETPs enjoyed inflows, suggesting a varied investor sentiment across different crypto assets.

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• Jul 1, 10:30 AM Crypto Briefing

  MiCA stablecoin regulations come into effect, pose challenges for issuers

  The MiCA (Markets in Crypto-Assets Regulation) stablecoin regime, a part of EU's effort to regulate the crypto market, became effective recently. It requires stablecoin issuaries in the European Economic Area to be licensed, potentially increasing operational challenges due to stringent capital, liquidity, and transparency requirements. Significant stablecoins will now be under the direct oversight of the European Banking Authority, and additional restrictions limit the issuance of stablecoins beyond certain transaction thresholds. While companies like Circle are adapting, Tether has opted not to pursue an e-money license, affecting its operational status in the EU.

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• Jul 1, 6:41 AM The Block

  Ant Group boosts blockchain subsidiary capital amid China's crypto restrictions

  Ant Digital Technologies, the blockchain division of Alibaba's Ant Group, has significantly increased the registered capital of its subsidiaries, Ant Blockchain Technology (Shanghai) and Ant Chain (Shanghai) Digital Technology. The strategic capital injections rise to 1.5 billion yuan and 2.1 billion yuan respectively, reinforcing Ant Group's commitment to advancing blockchain technology within the regulatory framework of China, which supports blockchain innovation despite a ban on cryptocurrency transactions. This development underscores a growing trend among Chinese tech giants to focus on blockchain technologies.

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• Jul 1, 1:33 AM Crypto Briefing

  Sony plans to launch crypto exchange in Japan

  Sony Group has expanded its business into the crypto market by acquiring Amber Japan, a move signaling its venture into crypto exchanges. This strategic acquisition occurs amidst its portfolio diversification, supported by Sony's considerable market value. Amber Japan, now owned by Sony, was previously managed by Singapore-based Amber Group, which faced financial difficulties post the FTX collapse.

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• Jun 29, 8:41 PM Cointelegraph

  Ethereum co-founder Vitalik Buterin criticizes US crypto regulations

  Ethereum co-founder Vitalik Buterin has highlighted the challenges faced by cryptocurrency developers due to US regulatory practices, which he terms "anarcho-tyranny." Buterin criticizes the current regulatory landscape for favoring meaningless or vague crypto projects while penalizing those providing transparency and customer assurances. He suggests that reforms should include implementing clear, protective measures through cooperation with regulators and the crypto industry to foster a healthier market environment.

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• Jun 29, 8:14 AM The Block

  SEC sends back Ethereum ETF S-1 forms for additional filings

  The US Securities and Exchange Commission (SEC) has returned the S-1 registration forms to companies issuing Ethereum-based exchange-traded funds (ETFs), indicating that further revisions are required before final approval. The issuers must address the SEC's comments and resubmit the forms by July 8. This latest development requires at least one more round of submissions before the ETFs can commence trading.

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• Jun 28, 8:15 PM Coindesk

  IRS finalizes crypto broker tax rules for 2025, delays decisions on DeFi and unhosted wallets

  The US Treasury Department has released new tax regulations for crypto brokers effective from 2025, mandating that brokers file 1099 forms and track customers' token cost basis starting in 2026. The rules apply to transactions involving cryptocurrencies, stablecoins in limited scenarios, and NFTs with over $600 annual earnings. However, decentralized finance (DeFi) entities and providers of non-custodial wallets have been granted a delay in their specific regulations pending further review. This decision follows extensive industry feedback, reflecting ongoing debates about the classification of digital assets and a shift towards more refined crypto tax compliance measures.

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• Jun 28, 5:03 PM Crypto Briefing

  SEC sues ConsenSys over MetaMask staking tokens and swaps

  The SEC has sued ConsenSys, accusing the firm of conducting unregistered brokerage and sale of securities via its MetaMask platforms since 2016. The company is alleged to have brokered over 36 million transactions through MetaMask Swaps and Staking, generating $250 million in fees without the necessary legal registrations, thus compromising investor protections. The SEC also challenges the status of staking tokens like stETH and rETH from Lido and Rocket Pool as unregistered securities.

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• Jun 28, 4:59 PM CoinDesk

  VanEck and 21Shares file for Solana ETFs, betting on a Trump victory

  Asset managers VanEck and 21Shares have submitted applications for Solana ETFs, speculating that a potential Trump administration could foster a more supportive environment for crypto products in the US. These actions represent anticipatory moves by both firms, gambling on regulatory changes favorable to crypto under a new presidency, despite the current administration's stringent stance. Solana, while a major crypto, still lacks the regulated derivatives market needed for ETF approval under the SEC's existing guidelines.

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• Jun 28, 7:03 AM Coindesk

  Ether expected to hit $6,500 later this year, driven by ETF inflows

  Ether is expected to achieve a price target of $6,500 later this year, influenced by anticipated strong inflows into newly-approved spot Ethereum exchange-traded funds (ETFs) in the US. Analysts, including those from Steno Research, predict substantial net inflows ranging from $15 billion to $20 billion within the first year of ETF trading, contributing positively to Ether's valuation relative to Bitcoin. This optimistic forecast emerges despite the current market's bearish sentiment concerning the ETFs' introduction.

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