The European Union’s Markets in Crypto-Assets Regulation (MiCA) will come into effect on 30 June, which is only three days away. As such, many crypto exchanges offering services in the bloc are already taking measures, mostly by dropping stablecoin offerings.
“This will be a first step entering the new regulatory framework, and it will have a significant impact on the stablecoin market in the European Economic Area (EEA),” Binance, the largest crypto exchange in terms of trading volume, stated.
Crypto Exchanges Dropped Stablecoins
At least four cryptocurrency exchanges have confirmed that they are restricting some stablecoin access to users within the EEA. Bitstamp was the latest to confirm on Wednesday that it would delist the euro-denominated stablecoin, EURT, before the 30 June deadline.
EURT is a EUR-pegged stablecoin issued by Tether, the company behind the largest circulated stablecoin, USDT, with a market capitalisation of more than $112.7 billion. Interestingly, Bitstamp became one of the first crypto exchanges to list EURT in November 2021.
“Electronic Money Tokens (EMTs) which are not Euro-denominated and are already available on the exchange but not within MiCA regulation, will not be delisted, although their availability to European customers will be limited on certain products,” Bitstamp wrote in its announcement.
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“Bitstamp will not list any new EMTs that don’t meet MiCA requirements, nor will it engage in any marketing of them.”
Another major name to take action ahead of MiCA is Binance. As Finance Magnates reported earlier, the crypto exchange already blocked access to some services, including copy trading. It will also bring further restrictions, including restricting the purchase of unauthorised stablecoins and limiting new borrowings and transfers of unauthorised stablecoins in margin trading.
We are 10 days away from the new MiCA regulations going into effect and basically every major exchange has either started to pull stablecoin support off their exchanges – and USDC, which everyone assumed would have their EMI license by now, doesn’t. Today from @binance 👇
Uphold, another crypto exchange with ties to Ripple, also confirmed the delisting of six stablecoins, including the popular USDT, for European users. However, it will continue to support USDC, EURC, and PYUSD.
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Comply with MiCA from 30 June
Similar to MiFID, MiCA will bring cryptocurrency services to the EU under one regulatory umbrella. The regulation will impact the distribution of the cryptocurrencies in the bloc, meaning both retail and institutional players will be affected in some way or another.
With the EU parliament’s approval in 2023, MiCA is set to be implemented in two phases: the rules around stablecoins to come into effect on 30 June 2024 and then the wider compliance on exchanges and wallets to be effective from 30 December 2024.
Under MiCA, fiat-backed stablecoins in the bloc would be categorised as ‘e-money tokens’, whereas other asset-backed tokens would be ‘asset-referenced tokens’. In both cases, the stablecoin issuers must maintain a 1:1 reserve. It will also bring algorithmic stablecoins under the purview, mandating them to maintain value.
The regulations would also restrict the daily transaction limit with non-euro pegged stablecoins to merely $1 million.
“As the world’s longest-running cryptocurrency exchange, we have consistently advocated for a proportionate response to regulation which protects consumers while allowing for the ongoing maturation of cryptocurrencies as an asset class,” said James Sullivan, UK Managing Director at Bitstamp. “We are communicating directly with the small proportion of our customers whose asset mixes are affected.”
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Exchanges Are Preparing for Months
A few crypto exchanges were already taking steps to comply with MiCA earlier this year. In March, OKX confirmed its delisting of USDT pairs in the EEA, without mentioning MiCA. “Please note that not all tokens are available in all markets due to regulatory requirements,” an email sent by the exchange to its European customers noted.
Interestingly, Kraken also reviewed the USDT pairs it offered in the EU and considered removing them to comply with MiCA, according to a Bloomberg report in March. However, following the report, Kraken’s Global Head of Asset Growth and Management, Mark Greenberg, clarified that the exchange “continues to list USDT in Europe and we have no plans to delist at this time.”
“We know our European clients value access to USDT and we continue to look at all options to offer USDT under the upcoming regime,” he added. “We will of course follow all legal requirements, even those we disagree with. But the rules are not finalised yet and we continue to do everything we can to continue to offer all relevant stablecoins to our European customers.”
Let’s be clear: @krakenfx continues to list USDT in Europe and we have no plans to delist at this time.
We know our European clients value access to USDT and we continue to look at all options to offer USDT under the upcoming regime.
Until now, Kraken did not announce anything officially on delisting any stablecoin pairs to comply with MiCA.
Interestingly, a recent report revealed that only 9 percent of the cryptocurrency firms, out of 68 surveyed, are fully compliant with MiCA requirements, whereas another 25 percent are yet to commence preparations.
The European Union’s Markets in Crypto-Assets Regulation (MiCA) will come into effect on 30 June, which is only three days away. As such, many crypto exchanges offering services in the bloc are already taking measures, mostly by dropping stablecoin offerings.
“This will be a first step entering the new regulatory framework, and it will have a significant impact on the stablecoin market in the European Economic Area (EEA),” Binance, the largest crypto exchange in terms of trading volume, stated.
Advertisement
Crypto Exchanges Dropped Stablecoins
At least four cryptocurrency exchanges have confirmed that they are restricting some stablecoin access to users within the EEA. Bitstamp was the latest to confirm on Wednesday that it would delist the euro-denominated stablecoin, EURT, before the 30 June deadline.
EURT is a EUR-pegged stablecoin issued by Tether, the company behind the largest circulated stablecoin, USDT, with a market capitalisation of more than $112.7 billion. Interestingly, Bitstamp became one of the first crypto exchanges to list EURT in November 2021.
“Electronic Money Tokens (EMTs) which are not Euro-denominated and are already available on the exchange but not within MiCA regulation, will not be delisted, although their availability to European customers will be limited on certain products,” Bitstamp wrote in its announcement.
“Bitstamp will not list any new EMTs that don’t meet MiCA requirements, nor will it engage in any marketing of them.”
Another major name to take action ahead of MiCA is Binance. As Finance Magnates reported earlier, the crypto exchange already blocked access to some services, including copy trading. It will also bring further restrictions, including restricting the purchase of unauthorised stablecoins and limiting new borrowings and transfers of unauthorised stablecoins in margin trading.
Advertisement
We are 10 days away from the new MiCA regulations going into effect and basically every major exchange has either started to pull stablecoin support off their exchanges – and USDC, which everyone assumed would have their EMI license by now, doesn’t. Today from @binance 👇
Uphold, another crypto exchange with ties to Ripple, also confirmed the delisting of six stablecoins, including the popular USDT, for European users. However, it will continue to support USDC, EURC, and PYUSD.
Comply with MiCA from 30 June
Similar to MiFID, MiCA will bring cryptocurrency services to the EU under one regulatory umbrella. The regulation will impact the distribution of the cryptocurrencies in the bloc, meaning both retail and institutional players will be affected in some way or another.
With the EU parliament’s approval in 2023, MiCA is set to be implemented in two phases: the rules around stablecoins to come into effect on 30 June 2024 and then the wider compliance on exchanges and wallets to be effective from 30 December 2024.
Advertisement
Under MiCA, fiat-backed stablecoins in the bloc would be categorised as ‘e-money tokens’, whereas other asset-backed tokens would be ‘asset-referenced tokens’. In both cases, the stablecoin issuers must maintain a 1:1 reserve. It will also bring algorithmic stablecoins under the purview, mandating them to maintain value.
The regulations would also restrict the daily transaction limit with non-euro pegged stablecoins to merely $1 million.
“As the world’s longest-running cryptocurrency exchange, we have consistently advocated for a proportionate response to regulation which protects consumers while allowing for the ongoing maturation of cryptocurrencies as an asset class,” said James Sullivan, UK Managing Director at Bitstamp. “We are communicating directly with the small proportion of our customers whose asset mixes are affected.”
Exchanges Are Preparing for Months
A few crypto exchanges were already taking steps to comply with MiCA earlier this year. In March, OKX confirmed its delisting of USDT pairs in the EEA, without mentioning MiCA. “Please note that not all tokens are available in all markets due to regulatory requirements,” an email sent by the exchange to its European customers noted.
Interestingly, Kraken also reviewed the USDT pairs it offered in the EU and considered removing them to comply with MiCA, according to a Bloomberg report in March. However, following the report, Kraken’s Global Head of Asset Growth and Management, Mark Greenberg, clarified that the exchange “continues to list USDT in Europe and we have no plans to delist at this time.”
Advertisement
“We know our European clients value access to USDT and we continue to look at all options to offer USDT under the upcoming regime,” he added. “We will of course follow all legal requirements, even those we disagree with. But the rules are not finalised yet and we continue to do everything we can to continue to offer all relevant stablecoins to our European customers.”
Let’s be clear: @krakenfx continues to list USDT in Europe and we have no plans to delist at this time.
We know our European clients value access to USDT and we continue to look at all options to offer USDT under the upcoming regime.
Until now, Kraken did not announce anything officially on delisting any stablecoin pairs to comply with MiCA.
Advertisement
Interestingly, a recent report revealed that only 9 percent of the cryptocurrency firms, out of 68 surveyed, are fully compliant with MiCA requirements, whereas another 25 percent are yet to commence preparations.
As many analysts are slashing their 2026 price targets for Bitcoin(BTC 1.28%), one top Wall Street investment firm is not. According to Bernstein, Bitcoin could still hit $150,000 by the end of the year.
Obviously, a lot needs to go right for Bitcoin for that to happen. But the world’s top cryptocurrency is capable of soaring in price by 120% this year. Here’s why.
“The weakest bear case in history”
Throughout its history, Bitcoin has experienced a number of boom-and-bust cycles. Typically, three years of boom are followed by one year of bust. Almost like clockwork, the price of Bitcoin collapses by more than 50% every four years. It happened in 2014, 2018, and 2022. And it now looks like it is happening in 2026. That helps to explain why market sentiment is so low on Bitcoin right now.
Today’s Change
(-1.28%) $-880.15
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Current Price
$67717.00
Key Data Points
Market Cap
$1.4T
Day’s Range
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$67337.00 – $68624.00
52wk Range
$60255.56 – $126079.89
Volume
20B
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But Bernstein sees it differently. According to the firm, this is the “weakest bear case in history.” During previous crypto collapses, there have been insolvencies, bankruptcies, spectacular failures, and blow-ups. None of that has happened in 2026.
That’s why Bernstein describes the current situation as a “crisis of confidence,” and nothing more. And, to a large degree, the numbers bear this out. For example, the Crypto Fear & Greed Index recently dipped below 10 (out of a possible 100), indicating wide-scale panic in the market. Once the index moves out of “extreme fear” territory (a reading of 20 or higher), Bitcoin could soar in value.
Institutional adoption of Bitcoin
Institutional adoption of Bitcoin remains on track. Large asset managers and institutional investors continue to add Bitcoin to their portfolios. Large Wall Street firms continue to push out new Bitcoin-related products. Net inflows have returned to the spot Bitcoin ETFs. And Bitcoin treasury companies continue to buy Bitcoin (albeit at a scaled-back rate).
Image source: Getty Images.
All this suggests that the core investment thesis for Bitcoin remains valid. Now is no time to give up on Bitcoin, which has been the top-performing asset in the world for much of the past decade. It has routinely delivered triple-digit returns, and the price of Bitcoin has grown exponentially over the past 15 years.
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Is Bitcoin a risk asset or a safe-haven asset?
It’s also undeniable that Bitcoin has lost some of its luster as “digital gold.” Just 12 months ago, hedge fund managers were extolling the virtues of Bitcoin as a potential safe-haven asset. Some even compared it to gold as a long-term store of value.
Bitcoin / U.S. dollar chart by TradingView
But ever since October, the price of gold — as measured by the performance of the iShares Gold Trust(IAU +1.94%) — has skyrocketed in value, while Bitcoin has nosedived. The two assets are now moving in completely opposite directions, and it’s easy to see why money is moving out of Bitcoin and into gold. Even Bernstein acknowledges that Bitcoin is now trading like a “liquidity-sensitive risk asset.”
But that’s what’s needed for Bitcoin to break out and deliver truly explosive upside potential. By the halfway point of 2026, I fully expect market sentiment on Bitcoin to shift. As long as Bitcoin can tread water for the next few months, it’s capable of doubling in value to hit $150,000 by the end of the year.
An advertisement for Polymarket features the two candidates for New York City mayor, Zohran Mamdani and Andrew Cuomo, on election day. New York City, November 4, 2025. OLGA FEDOROVA/AP
Will the United States strike Iran? Who will win the Super Bowl? The Oscars? The municipal elections in Paris? These uncertainties can pay off big on Polymarket. With a rather austere appearance, the American website presents thousands of questions, allowing bettors to wager on the outcome of current events and collect winnings if they choose correctly.
In the United States, such prediction market platforms are booming. In November 2025, the volume of bets on Polymarket and Kalshi, the two leaders in the sector, was estimated at nearly $13 billion (€10.9 billion). By early 2026, Polymarket has claimed tens of millions of visitors and hundreds of thousands of active traders.
Molly White, a researcher and engineer from Northeastern University in Boston, Massachusetts, described “a powerful trend” in the United States, “where everything becomes an excuse for gambling.” Nikos Smyrnaios, a professor of social sciences at the University of Toulouse, added that there are issues raised by “risk speculation,” which he described as characterized by “a total absence of ethics.”
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FIFA reveals plan for ‘football ecosystem’ in Gaza with AI-generated video
President Gianni Infantino announced the world soccer organization’s investment in the reconstruction of Gaza with an AI-generated video at a Board of Peace event.
FIFA president Gianni Infantino has said his organization is studying the possibility of launching its own cryptocurrency.
This week, Infantino appeared at the World Liberty Forum hosted at President Donald Trump’s Mar-a-Lago resort in Palm Beach, Florida.
The event was attended by heavyweights in the finance industry including bankers, crypto executives, U.S. senators and celebrities like Nicki Minaj and Kevin O’Leary.
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The president’s sons Eric Trump and Donald Trump Jr. were among the hosts of the event, which was also a showcase for the Trump family’s crypto initiative World Liberty Financial.
Infantino posted a recap of his appearance on Instagram, touting FIFA’s AI initiatives ahead of the 2026 World Cup that will “drive fan engagement, improve fan experiences, elevate global media distribution and broadcast, provide the 48 participating teams with additional match data, and further support the officiating of the 104 matches.”
The FIFA president also mooted the idea of global soccer’s governing body launching its very own crypto venture.
“We are also studying the development of a FIFA token and a FIFA coin — a real potential global currency serving 6 billion football fans worldwide,” he said.
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Following his appearance at the World Liberty Forum, Infantino headed to Washington, D.C. where he was in attendance as Trump convened the first meeting of his Board of Peace.
At the meeting, Infantino announced FIFA was planning a $70 million investment in Gaza to help rebuild the war-torn region.
The global governing body said it plans to build “a complete football ecosystem” including mini pitches, full-sized pitches, and academy and a national stadium.
