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📰 TOP NEWS
ECB backs digital euro as essential guardrail while Coinbase pushes for MiCA reform
The ECB's Isabel Schnabel argued that central banks should not resist financial innovation but provide guardrails, framing the digital euro as essential for preserving citizens' access to public money, strengthening European strategic autonomy, and reducing dependence on non-European payment providers. The ECB aims to be ready for a potential initial digital euro issuance by 2029, assuming the digital euro regulation is adopted in 2026. Schnabel's remarks stand in contrast to the U.S. administration's position, with Treasury Secretary Scott Bessent reiterating last week that Washington will not allow a CBDC. Meanwhile, Coinbase's director of international policy Katie Harries praised MiCA as a strong foundation but urged the European Commission to use its upcoming review to make Europe's crypto markets more competitive, calling for changes including making euro stablecoins more viable, clarifying regulated access to DeFi, and revising reserve requirements that she argues "concentrate rather than diversify risk" by mandating that 30% to 60% of stablecoin reserves be held in commercial bank deposits. The European Commission has opened a formal public consultation on MiCA through August 31, 2026.
CFTC opens door to perpetual futures in the US, clearing path for Kalshi and Coinbase
Perpetual futures contracts, one of the most liquid segments of global crypto derivatives markets, have been greenlit for the first time in the United States, with the CFTC approving KalshiEX to list a bitcoin perpetual contract and issuing a no-action stance for Coinbase Financial Markets to offer digital commodity derivatives products. The move is significant as most perpetuals activity had previously been conducted offshore, with Coinbase CEO Brian Armstrong noting that US users had been "locked out of ~80% of global crypto markets" until now. CFTC Chair Michael Selig called the action "historic," saying it charts a path for one of crypto's most liquid market segments to exist within the US regulatory framework, while White House crypto adviser Patrick Witt framed it as a direct reversal of the previous administration's "anti-innovation posture." The CFTC's staff advisory, which is not a formal rulemaking, noted growing interest in 24/7 trading driven by blockchain technology and decentralized infrastructure, and outlined how existing regulations address the associated risks. The Hyperliquid Policy Center welcomed the move, saying that "regulatory ambiguity drove these markets offshore, depriving American traders and institutions of access to regulated venues and undermining US competitiveness in global derivatives markets."
Mastercard granted New York BitLicense as stablecoin and tokenized deposit push expands
Mastercard has received a New York State BitLicense, aligning with the firm's long-term strategy to engage with payment and settlement infrastructure supporting stablecoins and tokenized deposits. Chief Product Officer Jorn Lambert said the approval "underscores our focus on aligning innovation with regulatory expectations of high levels of security, compliance and risk management." New York has now granted three BitLicenses in 2026 and roughly 40 since the program launched in 2015, with companies required to obtain one or a state banking charter to legally serve New York customers. The license has a reputation for stringent requirements that have historically blocked some startups from operating in the state. The approval comes as Mastercard aggressively expands its crypto footprint, having launched a global partner program with over 100 firms including Binance, Circle, Ripple, PayPal, and Gemini to integrate stablecoin payments with traditional rails, rolled out crypto card offerings with MetaMask, Bybit, and Gemini, and agreed to acquire stablecoin startup BVNK.
JPMorgan's Dimon blasts Clarity Act and takes aim at Coinbase CEO Armstrong
JPMorgan Chase CEO Jamie Dimon said he is unhappy with the Clarity Act in its current form and that banks plan to oppose the bill, arguing it effectively allows crypto firms to pay interest on deposits without adequate consumer protections and fails to sufficiently address Anti-Money Laundering requirements and the Bank Secrecy Act. "The banks will not accept it that way," Dimon said. Dimon also took direct aim at Coinbase CEO Brian Armstrong, claiming Armstrong is spending hundreds of millions of dollars in Washington to push the legislation through, and saying that "no one is going to bow down to this guy." Coinbase Chief Policy Officer Faryar Shirzad responded, saying that "millions of Americans believe this includes preserving rewards programs" and calling on the Senate to bring the Clarity Act to the floor. The clash reflects a weeks-long standoff between banks and the crypto industry over whether the legislation should permit crypto firms to reward customers for holding stablecoins, which banks argue could accelerate deposit flight from traditional financial institutions. Dimon said he supports blockchain technology and sees utility in stablecoins for cross-border payments, but warned that if the government does not approach the issue thoughtfully, "it will be a huge problem."
🎟️ EVENT OF THE WEEK
Istanbul Blockchain Week 2026
Istanbul Blockchain Week, organized by Web3 marketing agency EAK Digital, is set to return for its fifth edition on June 2nd-3rd, 2026, at the Hilton Bomonti Hotel. Following last year’s success, this year’s event is gearing up to host prominent leaders and organizations in the industry, with more opportunities to learn at the heart of Eurasia’s key crypto hub.
From blockchain and AI experts and thought leaders to influencers and enthusiasts, IBW 2026 is poised to draw thousands of attendees from around the world, leveraging Istanbul’s strategic position between the major financial centres of Dubai and London to explore the latest in emerging technologies.
Date Jun 2-3 2026
💬 EXPERT OPINION
I do think some digital currency will end up being the reserve currency of the world. I see a path where that's going to happen.”
📊 METRIC OF THE WEEK
Our researchers designed this metric with ❤️
GLOSSARY CORNER BitLicense is a business license issued by the New York State Department of Financial Services (NYDFS) that any company engaging in virtual currency activities involving New York residents must obtain, establishing one of the first and most comprehensive regulatory frameworks for cryptocurrency businesses in the United States. | EDITOR’S CHOICE |
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