Key Highlights

• DFS revises stablecoin framework to meet GENIUS Act certification criteria
• Proposed regulations maintain state-level supervision for compliant issuers
• Enhanced requirements include custodian concentration limits and comprehensive risk management
• State framework updated to harmonize with federal regulatory expectations
• Federal certification pathway could safeguard New York’s regulatory jurisdiction

The New York Department of Financial Services is pursuing federal recognition of its stablecoin regulatory program under the GENIUS Act framework. Through newly proposed rules, DFS aims to demonstrate substantial equivalence with federal standards while retaining jurisdiction over qualified stablecoin issuers. The framework strengthens existing requirements around reserve management, redemption protocols, auditing standards, and operational risk controls.

DFS Framework Adjusted to Meet Federal Certification Standards

Acting Superintendent Kaitlin Asrow unveiled the regulatory proposal from the New York State Department of Financial Services. The initiative expands upon previous DFS guidance from June 2022 governing dollar-pegged stablecoin operations. This update directly addresses federal certification pathways established by the GENIUS Act.

The proposed framework retains New York’s core requirements for reserve composition, token redeemability, and acceptable backing assets. DFS-licensed issuers would continue facing mandatory independent audit obligations. These foundational elements already constitute New York’s current approach to stablecoin regulation.

Yet the proposal introduces additional safeguards designed to satisfy federal benchmarks. The updated rules would cap reserve concentration with individual custodial institutions. Issuers would also need to implement structured risk management frameworks spanning critical operational functions.

State Pursues Federal Recognition to Preserve Regulatory Authority

New York seeks official designation that its regulatory structure substantially mirrors federal stablecoin requirements. Achieving this certification would permit qualifying issuers to continue operating under DFS jurisdiction. Absent such recognition, certain operators might transition to direct federal regulatory oversight.

The GENIUS Act establishes a bifurcated regulatory architecture for stablecoin supervision. Issuers with circulating tokens exceeding $10 billion come under federal regulatory authority. Smaller operators may continue under state supervision provided federal authorities certify those state programs.

A designated Stablecoin Certification Review Committee evaluates state regulatory frameworks under the legislation. This committee comprises officials from the Treasury Department, Federal Reserve, and FDIC. Consequently, New York must demonstrate regulatory parity with federal requirements.

Enhanced Custodial and Operational Risk Requirements Introduced

The revised regulatory framework extends beyond reserve backing and redemption mechanics. Issuers would implement controls governing corporate governance structures, cybersecurity protocols, and internal audit functions. Risk management programs must address asset expansion, revenue generation, and third-party service provider relationships.

The draft regulations also establish standards for related-party transactions and affiliate arrangements. DFS indicated these enhancements support more robust supervision amid expanding stablecoin market activity. The department emphasized its framework draws upon empirical data, active supervision, and stakeholder input.

DFS has maintained regulatory oversight of stablecoin issuance since 2018. Its current framework encompasses reserve requirements, redemption guarantees, disclosure obligations, and restrictions on asset rehypothecation. The new proposal modernizes this structure for compatibility with the federal GENIUS Act regime.

Public Comment Period Precedes 2027 Implementation Timeline

The regulatory proposal initiates with a 10-day preliminary comment period. Following State Register publication, DFS will conduct a 60-day formal public comment period. Regulators will subsequently evaluate stakeholder input before issuing final rules.

DFS indicated the finalized regulation becomes operative alongside the GENIUS Act on January 18, 2027. Current DFS-licensed stablecoin issuers would benefit from a one-year transition window. Meanwhile, existing DFS stablecoin guidance continues governing licensed entities.

This proposal reflects broader collaborative efforts between DFS and fellow regulators. Recently, DFS executed a supervisory cooperation agreement with the European Banking Authority. This action underscored New York’s determination to preserve its prominent position in stablecoin regulatory oversight.

Key takeaways

• ADA remains under pressure after last week’s 30% sell-off
• The coin could dip lower if the bearish trend in the market persists.

Cardano (ADA) continues to struggle on Wednesday, trading near $0.1600 and extending losses following last week’s sharp 30% decline. 

The cryptocurrency remains under intense selling pressure as investor confidence weakens and retail participation fades.

Despite the bearish backdrop, on-chain data suggests that selling activity from long-term holders may be approaching exhaustion, potentially laying the groundwork for a future recovery.

Dormant supply spike suggests capitulation among long-term holders

Recent on-chain data from Santiment shows a significant surge in dormant ADA supply re-entering circulation during early June.

Several spikes in dormant supply spent exceeded 20 billion ADA, culminating in a massive 40.6 billion ADA movement on June 9, the largest recorded spike during the current sell-off.

This wave of activity indicates that long-term holders who had previously remained inactive chose to move or sell their holdings amid market weakness. 

The surge also interrupted the growth in the average age of ADA wallets, confirming that dormant addresses became active again.

While further selling from long-term holders remains possible, such spikes are often viewed as capitulation events that signal the exhaustion of selling pressure and frequently precede market bottoms.

Retail sentiment toward Cardano has deteriorated significantly following last week’s decline.

Derivatives data highlights the decline in speculative demand. According to CoinGlass, Cardano futures Open Interest (OI) has dropped to $348.55 million, its lowest level since November 2024. This extends a steady decline from $585.35 million recorded on May 12.

A falling OI typically signals that traders are closing leveraged positions and becoming more risk-averse, reducing the likelihood of a strong recovery in the near term.

ADA price analysis: Can Cardano stay above $0.1500?

Cardano is trading slightly below $0.1600, maintaining a bearish trajectory after reaching a short-term peak of $0.1745 on Monday.

Technical indicators continue to favor sellers. The Relative Strength Index (RSI) at 39 is approaching the oversold territory, indicating severe selling pressure.

The Moving Average Convergence Divergence (MACD) remains below the zero line, confirming that bearish momentum remains dominant.

While oversold conditions could trigger occasional relief rallies, there is currently no strong evidence of a trend reversal.

If the rally resumes, ADA could surge past Monday’s high of $0.1745 before hitting the $0.2000 psychological level. 

A move back above the $0.2205–$0.2275 zone would be needed to weaken the prevailing bearish outlook.

However, if the selloff persists, ADA could drop below Saturday’s low of $0.1486, with the major long-term support at $0.1000 also a target. 

A break below $0.1486 could expose ADA to a deeper decline toward the $0.1000 region.

The European Union proposed banning transactions on 11 crypto platforms as part of its 21st sanctions package against Russia.

Kaja Kallas, vice president of the European Commission and the EU’s high representative for foreign affairs and security policy, outlined measures targeting banks, weapons manufacturers, oil traders, refineries and other entities outside the bloc.

“We will also tighten our ban for crypto-asset services to certain third countries, add new designations, and ban transactions on 11 crypto platforms,” Kallas said in a post on X.

The proposal would widen the EU’s sanctions campaign beyond Russian banks and energy revenues to crypto firms accused of helping Moscow circumvent restrictions imposed over its war in Ukraine.

Source: Kaja Kallas

The Commission did not identify the 11 crypto platforms in its public statements. Cointelegraph sought clarification on which platforms would be affected, but the Commission did not provide additional details before publication.

European Commission President Ursula von der Leyen said the package includes bans on 31 additional Russian banks and 20 entities in third countries, including banks, crypto platforms and oil traders.

She said the targets had served sanctioned Russian individuals and entities or helped circumvent EU measures.

EU proposal follows UK sanctions against HTX

The EU proposal follows the United Kingdom’s May 26 sanctions against Huobi Global S.A., the Panamanian company behind HTX, over alleged support for Russia-linked financial networks.

UK authorities said there were reasonable grounds to suspect HTX had supported the Russian government through financial services and funds facilitated by A7 Limited Liability Company and Garantex, both sanctioned entities.

Related: MiCA architect says EU should prioritize tokenization over DeFi rules

HTX has denied the allegations, saying the sanctioned entity is separate from the online exchange. A Global Ledger report later said HTX processed about $21.06 billion in high-risk crypto flows between 2021 and May 2026. Of that total, at least $7.64 billion was linked to Russian high-risk entities and darknet markets, including Garantex, its successor Grinex, A7A5 and Hydra.

The UK sanctions drew criticism from blockchain researchers, who warned that broad exchange-level tainting could freeze legitimate users and make crypto compliance tools less effective at tracing illicit funds.

Magazine: Vietnam preps crypto pilot, HK pushes tokenization: Asia Express

Botanix, a Bitcoin scaling network that set out to bring “real utility” to BTC without token incentives, is winding down after four years in operation.

In a Tuesday post on X, Botanix told users to withdraw all Bitcoin and other assets by July 9, after which remaining assets will be swept and “be unrecoverable.”

The decision comes despite integrations with major crypto infrastructure providers, including Chainlink, Fireblocks and Galaxy, and the launch of a consumer-facing Bitcoin neobank app.

Botanix’s Spiderchain architecture combines an Ethereum Virtual Machine-compatible chain with proof-of-stake-style consensus.

That structure allowed it to offer Ethereum-like programmability for Bitcoin while relying on a set of validators and a dynamic federation, rather than purely on Bitcoin’s own consensus for security and settlement.

In its shutdown notice, the team said the technology and products worked but failed to achieve sustainable product-market fit or economics.

Botanix shut-down notice. Source: Botanix

Botanix said most users still treat Bitcoin primarily as a reserve asset and yield vehicle rather than something they want to use frequently in onchain applications, and that existing demand for Bitcoin-backed decentralized finance (DeFi) is largely being met by wrapped BTC on Ethereum.

Related: Bitcoin payments held back by tax policy, not scaling tech: Crypto exec

The team also cited a broader concentration of attention and trading volume on large exchanges, trading platforms and traditional financial intermediaries, which left infrastructure-heavy networks like Botanix struggling to generate enough fee revenue to cover their costs.

Users have until July 9 to withdraw assets

Botanix has warned that anyone who does not remove their Bitcoin and other assets by July 9 will lose access, highlighting the practical risks for retail users when experimental DeFi platforms are wound down.

The shutdown comes as other projects seek to extend Bitcoin’s programmability, including Stacks and Rootstock, which operate independent blockchains linked to Bitcoin, and newer efforts such as Citrea that use different mixes of Bitcoin anchoring, proof-of-stake-style designs and token incentives

Citrea co-founder and chief executive Orkun Mahir Kılıç told Cointelegraph Botanix’s experience is less an indictment of Bitcoin DeFi than of “a cloning-first approach” that largely replicated existing EVM protocols without offering long-term BTC holders a distinct value proposition. 

He argued that Citrea is instead focused on applications that “fundamentally require Bitcoin’s specific architecture and trust-minimized settlement,” rather than competing as one more general-purpose chain, pointing to use cases like private payments and Bitcoin-native capital markets rather than generic lending and trading forks.

Cointelegraph reached out to Botanix for comment but did not receive a response by publication.

Magazine: Bitcoin will not hit $1M by 2030, says veteran trader Peter Brandt

Bitcoin Cash, Litecoin, and DOGEBALL enter focus as investors seek utility, transparency, and resilience amid market uncertainty.

The crypto market is moving very fast. A recent NDTV report shared a big warning for everyone. It showed how President Donald Trump and his family made $500 million from a crypto deal right before AI Financial Corp crashed. 

That sudden crash left normal investors with massive losses. This news teaches us a major lesson for those who are looking for the top crypto to buy now. Hype can disappear in one night. Because of this, smart buyers are moving away from risky coins. They are choosing tokens with real daily use, clear math, and true safety. This easy guide looks at the data behind Bitcoin Cash, Litecoin, and a new asset called DOGEBALL to help make a smart choice.

What is DOGEBALL?

DOGEBALL is a highly useful crypto network. It is built on its own fast blockchain called DOGECHAIN, which is an Ethereum Layer 2 system. It mixes online gaming with global payments. These fields are known as GameFi and PayFi. Unlike tokens that rely only on hype, this project fixes real daily problems. 

Its main service is called DOGEPAY. It lets users send crypto anywhere in the world, and the person getting it receives local cash straight into their bank account. It works with over 30 global currencies. The transactions take under a second, there are zero foreign exchange fees, and do not need slow banks or payment apps.

People are joining this project because it offers safety and high demand. The DOGEBALL token is the main fuel used to pay all network transaction fees. This setup creates constant buying pressure. The token also runs a play-to-earn gaming world with a $1,000,000 total prize pool. The top player can win up to $500,000 and cash out instantly into real money. The smart contract has a perfect 100% security audit score. This makes it a very stable and safe digital asset for your portfolio.

High yield math: Analyzing the DOGEBALL presale growth potential

The DOGEBALL crypto presale 2026 is built to reward people who get in early. The project has already raised more than $302,000 from over 1,050 buyers. On Monday, May 11, 2026, the team permanently burned 4,000,000,000 tokens. That removed 20% of the presale supply to make the remaining tokens scarcer. The crypto presale has 22 stages in total. Each stage lasts a maximum of 7 days and ends every Monday at 21:00 UTC. When the stage ends, unsold tokens are burned and the price goes up.

Buying at the current Stage 7 price of $0.000845 gives investors a huge mathematical advantage. The token will launch on big crypto exchanges at $0.015.

Let us look at the basic return on investment (ROI) calculation:

• Current Stage Price: $0.000845
• Planned Launch Price: $0.015
• Expected Launch Gain: 1,675.14%

These gains can be grown even more by using the special bonus code DB30. This code gives a 30% bonus on tokens. For example, putting $1,000 into the project today gets around 1,183,431 tokens. By typing the code DB30, the total amount jumps to 1,538,460 tokens. When the token hits the exchange at the $0.015 launch price, the investment becomes worth $23,076. That is a total profit of 2,207.6%. Prices go up every single Monday at 21:00 UTC. This means today is the best chance to buy at this low price before the next weekly increase.

How to join the DOGEBALL presale right now

Joining the presale is easy and takes less than five minutes. Follow these quick steps to get tokens before the price steps up:

Step 1: Get a Crypto Wallet

Download a free digital wallet like MetaMask or Trust Wallet on a phone or computer.

Step 2: Add funds to the Wallet

Buy or transfer Ethereum (ETH), USDT, or BNB into the new digital wallet.

Step 3: Link to the Website

Go to the official DOGEBALL website and link the wallet using the live presale widget.

Step 4: Use the Code and Buy

Type in how much to buy. Enter the code DB30 to get 30% extra tokens, and click confirm.

Bitcoin Cash: Stable performance with limited growth

Bitcoin Cash is a well-known coin used for daily payments, but its fast growth has slowed down. According to the latest price prediction data from CoinCodex, Bitcoin Cash is in a flat trend. Its long-term moving average has been pointing downward since late May 2026. This shows that the market is hitting a wall.

The coin faces tough resistance around the $540 to $550 price levels. CoinCodex charts show that the token is expected to trade between $439.79 and $642.10 over the coming months. It is still a safe network for sending decentralized payments. However, its chance for massive short-term gains is very small. It cannot scale microtransactions as fast as newer Layer 2 systems.

Litecoin: Slow recovery in a quiet market

Litecoin is often called the silver to Bitcoin’s gold, but it is dealing with short-term price drops. CoinCodex market data shows that Litecoin recently fell from 14,408.40 PKR down to 11,819.97 PKR. That is a quick 17.96% drop in value in early June 2026. The network is now working to find a steady price floor.

Market experts state that Litecoin’s relative strength index is sitting in a completely neutral zone. This means that while the coin is safe from huge crashes, it does not have the momentum to spike upward quickly. It lacks built-in features like automatic crypto-to-bank cash-outs. This makes it less exciting for buyers who want large returns.

Conclusion: Finding the top crypto to buy now

For those who want the top crypto to buy now, they should avoid overhyped projects that can crash. Legacy networks like Bitcoin Cash and Litecoin are safe, but they offer small, slow returns. The DOGEBALL presale gives a clear and transparent entry point at just $0.000845 today. Because the exchange launch price is locked at $0.015, early buyers can lock in large predictable gains before public trading opens. Do not wait and miss out on this rate. Use the code DB30 right now to claim a 30% token bonus before the price jumps this Monday at 21:00 UTC.

For more information, visit the official website, Telegram, and X.

FAQs for top crypto to buy now

What is the best crypto to invest in right now?

DOGEBALL is an excellent choice because it pairs a low-priced crypto presale with massive real utility. Its Layer 2 system runs an app that sends crypto straight to global bank accounts as fiat cash, creating constant market demand.

Which crypto has 1000x potential?

Early presale coins with real utility have the best upside. Buying DOGEBALL at $0.000845 before its $0.015 exchange debut gives a strong head start. Regular weekly supply burns keep cutting down the total token numbers to drive value.

Which crypto has the most potential?

Tokens that fix real financial problems hold the most potential. DOGEBALL removes expensive middlemen and cuts global wire fees to zero. This operational use attracts real businesses and users, giving it an advantage over hype coins.

What is the best way to double $1000?

Putting money into the DOGEBALL presale is a highly efficient move. Entering the presale at today’s low price and applying the bonus code DB30 instantly increases the token count by 30% for a much higher launch value.

Which coin has the best future?

Coins built on specialized, high-speed blockchains have the strongest future. DOGEBALL runs on a custom Ethereum Layer 2 called DOGECHAIN. This setup means near-zero gas fees and instant speeds, making it perfect for long-term global growth.