Crypto World
One year ago today, the House passed CLARITY
In one week of July 2025, the House passed three crypto bills. One is law. One is law by accident and the President will not sign it. The third has not had a Senate vote in 365 days, and it was supposed to be the important one.
Summary
- On July 17, 2025, the House passed the CLARITY Act 294-134 with more than 70 Democrats crossing over, the strongest congressional endorsement of digital asset legislation in American history. It has not received a Senate floor vote in the year since.
- It was the middle bill of Crypto Week, when the House passed three digital asset measures in rapid succession. Tracking all three one year later produces a scorecard nobody in the industry wants to read aloud.
- GENIUS became law on July 18, 2025 and hits its first major rulemaking deadline tomorrow. The Anti-CBDC Surveillance State Act cleared the House 219-217, stalled, then reached law by riding inside a housing bill the President is refusing to sign.
- CLARITY is stuck on ethics. The merged Senate draft released July 14 omits the provision Democrats named as their price, and three senators declared opposition the same day.
- The pattern across all three is the same: what passed was what could be attached to something else or what nobody had a personal stake in blocking. CLARITY is neither.
Washington called it Crypto Week. In a handful of days in July 2025, the House of Representatives passed three digital asset bills in succession, and the industry treated the sequence as the moment its lobbying decade finally paid. The CLARITY Act cleared 294-134 on July 17. The GENIUS Act cleared 308-122 the same day and was signed into law on July 18. The Anti-CBDC Surveillance State Act squeaked through 219-217. Three bills, one week, one chamber, and a widespread assumption that the Senate was a formality. Today is the one-year anniversary of the first of those votes. Exactly one of the three arrived where it was supposed to. Tracking what happened to the other two explains more about how crypto legislation actually works than any amount of vote-counting on the bill still pending.
The bill that made it
GENIUS is the success case, and it is worth being precise about why, because the reason is not that it was the best bill.
It passed the Senate 68-30 in June 2025, cleared the House 308-122 on July 17, and was signed into law on July 18, creating the first federal framework for payment stablecoins. It reaches its first major rulemaking deadline on July 18, 2026, one year to the day. White House digital assets adviser Patrick Witt has repeatedly pointed to that anniversary as proof that coordinated action produces results, which is true and also somewhat beside the point.
GENIUS passed because almost nobody with power had a reason to stop it. Banks wanted rules for stablecoins because stablecoins were happening regardless and they preferred a framework they could live inside. The industry wanted legitimacy. Regulators wanted reserve requirements. The politics of requiring an issuer to hold full reserves in liquid assets and disclose them monthly are not politics at all; they are housekeeping. There was no ethics dimension, no jurisdictional turf war between agencies, and no obvious way for anyone in office to profit from the outcome in a manner that made colleagues uncomfortable.
That is the template for what Congress can pass on crypto. Narrow scope, clear beneficiary, no personal stakes. Note how little of that describes CLARITY.
The bill that made it by accident
The Anti-CBDC Surveillance State Act is the strangest entry on the scorecard, and its path is worth tracing because it shows what happens when a crypto bill cannot pass on its own.
It cleared the House by two votes, 219-217, which is not a mandate. Then it stalled. A promise to attach it to the defense authorization bill went unkept, which in Washington is a soft burial. It should have died there.
Instead it reached law by an unlikely route: a provision barring the Federal Reserve from issuing a central bank digital currency through 2030 rode inside the 21st Century ROAD to Housing Act, a bipartisan housing package that passed the Senate 85-5 and the House 358-32. The crypto industry got its anti-CBDC win as a passenger on a bill about construction permitting.
And then the President refused to sign it. Not over the CBDC provision, which he supports, having argued that a central bank digital currency would threaten financial stability, individual privacy, and American sovereignty. He is withholding signature over the SAVE America Act, an unrelated elections bill demanding proof of citizenship and photo identification for federal voting. The housing measure becomes law without his signature once the ten-day window closes, so the maneuver functions as leverage instead of a veto. The CBDC ban arrives regardless, delivered by a President who declined to sign the vehicle carrying it.
The lesson is not subtle. A crypto priority that could not pass on its own merits became law by attaching itself to something that could, and then survived the President’s own obstruction because the mechanism did not require his cooperation. That is three separate accidents in a row producing the right outcome, and it is not a strategy anyone can repeat on purpose.
The bill that did not
Which brings us to CLARITY, and to the number that should embarrass everyone involved: 365 days on the Senate side with no floor vote.
The bill did not stall for lack of support in the abstract. It passed the House with more than 70 Democrats, which is the strongest bipartisan showing any crypto legislation has ever produced. It cleared the Senate Banking Committee 15-9 on May 14, 2026. On June 1 it was placed on the Senate Legislative Calendar under General Orders as Calendar No. 423, making it eligible for a floor vote at any moment leadership chooses to schedule one. Nobody has scheduled one.
The arithmetic explains part of it. Cloture requires 60 votes. Republicans hold roughly 53 seats, so the bill needs at least seven Democrats. Only two crossed over in committee, Ruben Gallego and Angela Alsobrooks, and both subsequently warned that their committee votes do not guarantee floor support absent further progress. The Republican margin has since narrowed further: Senator Lindsey Graham died on July 11 and Mitch McConnell has been absent, which leaves the conference almost no room for error.
But the arithmetic is downstream of the actual obstacle, which is ethics. Democrats have conditioned their votes on provisions restricting government officials from profiting from the industry they regulate. The reason such a provision exists is that the President’s most recent financial disclosure showed roughly $1.4 billion in crypto-related income, including about $636 million from the memecoin bearing his name and more than $500 million tied to World Liberty Financial. The merged Senate draft combining the Banking and Agriculture texts was released on July 14 and omits any ethics provision. That same day, Senators Chris Murphy, Chris Van Hollen, and Jeff Merkley held a press conference formally opposing the bill.
The rest of the picture is a machine running out of track. Majority Leader John Thune has pledged a floor vote before the August recess, with the week of July 20 under active discussion. The House leaves July 23; the Senate leaves around August 7. A high-level White House meeting was convened on July 15 to hash out the ethics section, with the President himself in attendance. The White House crypto adviser begins military leave on July 27, inside the closing window. A House field hearing convenes at Federal Hall today. Prediction markets have priced 2026 passage in the mid-20s to upper-30s percent range, down from above 70% earlier in the year, and Galaxy’s research head cut his estimate to roughly 50% from 75% in late May. CFTC Chairman Michael Selig has publicly complained that ethics additions are derailing the bipartisan opportunity, calling it mission creep.
The bull case for the anniversary meaning nothing
The optimistic reading is that a year is not long by legislative standards and the anniversary is a media artifact rather than a signal.
Major financial legislation routinely takes multiple Congresses. Dodd-Frank was a crisis response and still consumed most of a year with a supermajority. The fact that CLARITY sits on the calendar eligible for a vote, with committee work finished in both relevant committees, is genuinely further than any market structure bill has ever reached. House Agriculture’s digital assets subcommittee chair has said the House will move fast on whatever the Senate produces, which removes one procedural obstacle entirely: if the Senate delivers a passable text, the House has committed to compressing its own timeline to nothing.
The negotiation is also live rather than dead. A White House meeting with the President attending is not what a corpse looks like. Senators from both parties, including Gillibrand, Lummis, Boozman, and Scott, are described by House Financial Services Chair French Hill as working to get to yes. Kristin Smith of the Solana Policy Institute points to returning lawmakers and fresh bill text as evidence momentum is building. Three working weeks is short but it is not zero, and Congress passes things in the final hours as a matter of institutional habit.
And crucially, the absence of CLARITY has not left a vacuum. The SEC and CFTC joint interpretation of March 17, 2026 classified 16 named digital assets, including Bitcoin, Ether, and XRP, as digital commodities under a five-category taxonomy. That framework is binding on both agencies and is already being cited in fund registration statements. The industry has a working rulebook. The bill would improve it; the bill’s absence has not stopped the market from operating.
The bear case for the anniversary meaning everything
The pessimistic reading is that a year of failure on a bill with 70 Democratic House votes tells you the obstacle is structural, and structural obstacles do not resolve because a calendar page turns.
The compliance cost is the part the vote-counting misses. Businesses cannot build durable compliance programs against jurisdictional lines that remain uncertain, which means the gridlock is not a political story but an operating one, and it has now run for a full year. Firms have responded exactly as they have since 2018, by domiciling offshore, which means the activity continues and American oversight does not.
The taxonomy that makes the bull case is also the bear case. It is administrative action. Any future administration can direct its agencies to reinterpret without a congressional vote. So the industry’s working rulebook is a reversible one, and the entire argument for CLARITY is that a reversible rulebook is not a rulebook. If the bill dies, what protects Bitcoin, Ether, and XRP from a future enforcement posture is one interpretive release from an agency whose position changed once already because its leadership changed.
Then there is the political clock, which does not reset. If CLARITY misses the August recess, it lands in a fall calendar that runs directly into November midterms, when legislative activity slows and the bill’s outlook becomes hostage to a chamber composition nobody can predict. The lame-duck session is the theoretical fallback and it is where well-positioned bills go to be forgotten.
And the ethics impasse has no natural resolution. Democrats argue it is incoherent to build a federal framework for digital assets while the sitting President earns his largest income stream from those assets with no enforceable restriction. The White House position, per Witt, is that it will accept ethics language applying across the board, from the president to the intern, but nothing targeting the President’s holdings specifically. Both positions are internally consistent. Together they are irreconcilable without a concession, and the July 14 draft showed which way the drafting is currently leaning.
The thing a year of delay actually cost
Vote math is the wrong lens for the anniversary, because it measures whether the bill will pass instead of what its absence has already done. A year is long enough for the delay itself to become the story.
Start with the offshore drift, which is not theoretical. Firms domicile where the rules are legible. For a year, American builders have faced a jurisdictional question with no statutory answer, and the rational response has been to incorporate elsewhere, serve American users through structures designed by lawyers, or simply exclude Americans outright. Robinhood’s Stock Tokens are the clean illustration: tokenized equity products available across more than 120 countries and barred to US persons, built by an American brokerage. That is not a company fleeing regulation. It is a company reading the rules that exist and concluding that the safest jurisdiction for its newest product is anywhere else.
Then the compliance cost, which Forbes framed correctly this week: the gridlock has stopped being a political problem and become an operating one. A firm cannot build a durable compliance program against lines that may move. It cannot hire against them, budget against them, or sign multi-year vendor contracts against them. Every quarter of delay is a quarter in which the responsible actors, the ones who would comply if told how, spend money on legal opinions instead of product, while the irresponsible ones proceed exactly as before. Regulatory uncertainty is a tax that falls hardest on the firms most inclined to follow rules.
Then the institutional opportunity cost, which is the largest and least visible. The March taxonomy unlocked a great deal: fund issuers now cite it in registration statements, and accredited investors can structure compliant holdings without waiting for GENIUS implementation in November. But an interpretive release is not what a pension committee wants underneath a multi-decade allocation. Institutions do not ask whether an asset is currently permitted. They ask whether it will still be permitted after the next election, and the honest answer today is that nobody can promise it. That question has a statutory answer or it has no answer, and for a year it has had no answer.
The rebuttal deserves stating: none of that stopped the market. Spot volumes on centralized exchanges rose for the first time in five months in June, climbing 15.3% to $1.11 trillion, and real-world-asset perpetual volumes hit a record $311 billion. Tokenized Treasury products passed $15 billion. The industry is not waiting politely for permission, and the argument that legislation is existential looks weaker every quarter the sector functions without it.
Both readings are true, which is the uncomfortable part. The market does not need CLARITY to operate. The market needs CLARITY to stop rebuilding its legal assumptions every time an administration changes. Those are different needs, and only one of them shows up in a volume chart.
What the scorecard actually shows
Line the three bills up and a pattern emerges that is more useful than any individual vote count.
GENIUS passed because it was narrow and nobody with leverage had a personal reason to block it. The anti-CBDC provision passed because it stopped trying to pass and hitched a ride on something that could, then survived presidential obstruction because it did not need his signature. CLARITY has not passed because it is broad, it touches agency turf, and the one person whose endorsement it carries most loudly is also the reason its opponents will not vote for it.
The uncomfortable implication is that the American legislative system handled crypto’s easy questions and has not handled its hard one. Stablecoin reserves are an easy question. Whether the Fed can issue a digital dollar is a question with a clear partisan valence and an available vehicle. Who regulates the entire digital asset market, and whether the officials writing that answer may personally profit from it, is a hard question, and hard questions require someone to give something up.
A year ago today, the House answered the hard question 294-134 and the industry declared victory. The Senate has spent the twelve months since proving that the House vote was the easy part. Whether the next three weeks change that will come down to a room in the White House and whether anyone in it is willing to trade. If they are not, the anniversary that matters will not be this one. It will be the second one.
Disclaimer: This article is for information and educational purposes only and does not constitute financial, investment, or legal advice. It describes pending legislation and the political debate around it, and legislative outcomes are inherently uncertain. Nothing here is a recommendation to buy or sell any asset. Always do your own research. Information is accurate as of July 17, 2026, and this situation is developing quickly.
Frequently Asked Questions
What happened one year ago today?
On July 17, 2025, the House of Representatives passed the Digital Asset Market Clarity Act by a vote of 294-134, with more than 70 Democrats joining Republicans. It was the strongest congressional endorsement of digital asset legislation in American history and part of what Washington called Crypto Week, during which the House passed three crypto bills in rapid succession.
What was Crypto Week?
A stretch of July 2025 in which the House passed the CLARITY Act 294-134, the GENIUS Act 308-122, and the Anti-CBDC Surveillance State Act 219-217. GENIUS was signed into law on July 18, 2025. The anti-CBDC measure stalled before reaching law inside a housing bill. CLARITY passed to the Senate and has not received a floor vote since.
Did the GENIUS Act become law?
Yes. It passed the Senate 68-30 in June 2025 and the House 308-122 on July 17, 2025, and was signed on July 18, 2025, creating the first federal framework for payment stablecoins. It requires US payment stablecoin issuers to hold full reserves in liquid assets and disclose composition monthly, and it reaches its first major rulemaking deadline on July 18, 2026.
What happened to the anti-CBDC bill?
It cleared the House 219-217, then stalled when a promise to attach it to the defense bill went unkept. A provision barring the Federal Reserve from issuing a central bank digital currency through 2030 later rode inside the 21st Century ROAD to Housing Act. The President has refused to sign that package over an unrelated elections bill, but it becomes law without his signature once the ten-day window closes.
Why has CLARITY not had a Senate vote?
Primarily ethics. Democrats have conditioned support on provisions restricting officials from profiting from the crypto industry, prompted by the President’s disclosure of roughly $1.4 billion in crypto income. The merged Senate draft released July 14 omitted any ethics provision, and Senators Murphy, Van Hollen, and Merkley announced opposition the same day. Disputes over DeFi developer protections and stablecoin yield also remain live.
What are the odds it passes in 2026?
Traders have grown sharply more pessimistic. Prediction markets priced 2026 passage in roughly the mid-20s to upper-30s percent range in mid-July, down from above 70% earlier in the year. Galaxy’s research head cut his estimate to about 50% from 75% in late May. Those figures move quickly and should be checked against current markets.
What is the deadline?
The House leaves for recess on July 23 and the Senate around August 7. Majority Leader John Thune has pledged a floor vote before the recess, with the week of July 20 under discussion. After that, the bill lands in a fall calendar running into November midterms, when the outlook becomes considerably harder to predict.
What governs crypto in the meantime?
The SEC and CFTC joint interpretive release of March 17, 2026, which classified 16 named assets including Bitcoin, Ether, and XRP as digital commodities under a five-category taxonomy. It is binding on both agencies and is cited in fund registration statements. But it is administrative action, not statute, so a future administration could direct a reinterpretation without any congressional vote, which is the central argument for passing the bill.
Crypto World
Kaspersky Flags Malware Framework Aimed at Crypto Investors
Two separate cybersecurity reports point to a growing trend in crypto-related malware: attackers are no longer relying only on obvious phishing emails. Instead, they are moving closer to the workflows people already use—recruiting pipelines, developer code trials, and wallet-related software behavior.
Kaspersky says it has uncovered a cryptocurrency-targeting malware framework dubbed “OkoBot,” which initiates an infection chain through social engineering, malicious commands, and trojanized GitHub applications. Separately, SlowMist describes a campaign aimed at Web3 developers that starts with fake LinkedIn recruitment offers and ends with poisoned repositories designed to deliver remote access.
Key takeaways
- Kaspersky links the OkoBot framework to wallet theft activity, including harvesting wallet files and capturing browser and credential data.
- OkoBot is designed to steal assets by injecting malicious browser extensions and collecting wallet application windows, Kaspersky reports.
- SlowMist warns that fake “recruitment” messages are being used to trick developers into running malicious GitHub repositories that resemble legitimate interview tasks.
- SlowMist says the campaign’s goal is to deliver a remote access trojan that can exfiltrate project keys and cloud or wallet extension data.
- Both reports emphasize social engineering paths—ClickFix-like tactics or developer-targeted collaboration scenarios—that make the attacks harder to spot.
Kaspersky: OkoBot targets crypto investors through wallet and credential theft
In a report released this week, Kaspersky describes OkoBot as a malware framework built to compromise cryptocurrency investors by chaining together multiple stages of intrusion. The first step is not purely technical; it relies on social engineering methods intended to get victims to act.
According to Kaspersky, initial access can come from tactics such as ClickFix, a technique that aims to trick users into running malicious commands. Alternatively, attackers may deliver similar outcomes by distributing trojanized GitHub apps that include backdoors once installed.
After gaining a foothold, Kaspersky says OkoBot has capabilities specifically relevant to crypto users and their systems. The malware can harvest crypto wallet files, collect browser data and user credentials, and manipulate the victim’s environment by injecting malicious extensions. It also reportedly captures wallet application windows, which can give attackers a more direct path to stolen assets than credential theft alone.
Kaspersky added that it has observed multiple attacks involving the OkoBot malware family since January 2026, suggesting the framework is not a one-off operation but part of an active campaign.
Evolution from TookPS: more orchestration, more reach
Kaspersky also frames OkoBot as an evolution of a prior threat. The company says the malware framework evolved from “TookPS,” a campaign first identified in 2025 that distributed a Trojan downloader via fake software websites. That earlier stage matters because it signals a progression in how attackers deliver and manage malicious payloads: from initial trickery and download into a more structured compromise process.
A distinctive operational detail in Kaspersky’s account is how OkoBot manages its payloads. The report states that it orchestrates all 20 malicious payloads via an SSH tunnel, allowing remote transport of data from infected computers to infrastructure controlled by attackers.
For investors and defenders, this design choice matters because it can complicate incident response. Data exfiltration over an SSH tunnel may blend with normal encrypted traffic patterns, and the multi-payload architecture suggests victims may not see a single obvious “binary” responsible for damage.
SlowMist: fake LinkedIn recruiting and “try before interview” repositories
In a separate report, SlowMist describes another approach to malware delivery: it targets Web3 developers by disguising an attack as recruitment. Rather than sending victims a generic phishing link, attackers reportedly contact developers through LinkedIn while posing as Web3 recruiters.
SlowMist says the attackers follow up with instructions to download and run code from fake GitHub repositories. The bait is framed as a realistic recruitment process: the repository is presented as a “minimum viable product” that the developer should try before the interview, which aligns closely with how technical screenings often work.
The company notes that the workflow looks and feels like a genuine interview assignment: developers are expected to pull code, install dependencies, and launch the project. That resemblance is a key factor in why the attack can be difficult to detect—there may be no obvious sign that a “try it now” task is actually weaponized.
Remote access trojan goals: keys, credentials, and extension data
According to SlowMist, the end goal of the LinkedIn-and-GitHub tactic is to deliver a complete remote access trojan onto the victim’s device. Once installed, SlowMist says attackers can steal sensitive information relevant to Web3 work, including project keys, cloud credentials, or wallet extension data.
SlowMist also emphasizes that this is not an isolated tactic. The report argues that attackers are increasingly exploiting scenarios that encourage developers to run code—such as recruitment tasks, code reviews, and project collaborations—turning normal professional behavior into an infection vector.
It is also notable that SlowMist’s write-up arrives amid a broader pattern of recent warnings. The security firm had also previously cautioned about a separate malware campaign targeting macOS users, designed to steal credentials, hijack Telegram sessions, and ultimately pressure victims into entering wallet recovery phrases via fake websites.
For readers and builders, the common thread across both reports is the same: attackers are calibrating their intrusions to the moments when people are most likely to click “run,” install, or test code—whether that happens after a recruiter message on LinkedIn or after a malicious “app” appears to be a legitimate GitHub tool. The next thing to watch is whether these campaigns expand into more standardized tooling for developers and more automation for account-level compromise, since both Kaspersky and SlowMist describe activity that looks organized and iterative rather than sporadic.
Crypto World
Kaspersky exposes OkoBot’s 20-module crypto wallet attack
Kaspersky has exposed OkoBot, a year-old malware operation that uses roughly 20 modules to steal crypto wallet recovery phrases and has affected users across at least five countries.
Summary
- Kaspersky uncovered OkoBot using roughly 20 modules to steal crypto wallet credentials.
- The malware has affected users in Brazil, Vietnam, Canada, Mexico, and Turkey.
- OkoBot uses fake recovery screens, keylogging, spyware, and ClickFix commands to target victims.
Kaspersky researchers discovered that the malware has remained active for more than a year, according to a report published by Bits.media. Most identified victims were located in Brazil, Vietnam, Canada, Mexico, and Turkey, while the operators blocked IP addresses from Russia and other Commonwealth of Independent States countries.
Distributed through GitHub repositories, OkoBot is disguised as legitimate software, including Microsoft SQL Server Management Studio. Kaspersky found that the attackers rely on the ClickFix social engineering method, which tricks victims into running malicious commands on their own devices.
The technique often presents users with fake error messages, verification steps, or repair instructions. Following those directions causes victims to execute code that installs the malware without realizing the command is malicious.
OkoBot targets seed phrases and wallet credentials
Among OkoBot’s modules, SeedHunter displays a fake recovery interface linked to hardware wallets such as Ledger and Trezor, according to Kaspersky. When users enter their recovery phrases into the fraudulent screen, the module sends the information to the malware operators.
A second module called MC Keylogger records keyboard input and monitors clipboard activity, allowing it to capture passwords, copied wallet addresses, and other credentials. OkoSpyware can track wallet passwords and record videos of open windows, giving attackers another way to observe activity on an infected device.
Once a recovery phrase is exposed, the attackers can use it to take control of the associated wallet and move its assets. Kaspersky warned that victims have little chance of recovering stolen cryptocurrency because blockchain transfers are generally irreversible.
The malware’s modular design also lets its operators collect different types of information from a single infected system. According to the security company’s findings, OkoBot can target both wallet access data and credentials connected to other services used on the device.
ClickFix attacks have also targeted crypto developers
OkoBot is the latest malware campaign found using ClickFix against the cryptocurrency sector. As crypto.news reported in April, North Korea’s state-backed Lazarus Group used the same technique in a macOS campaign known as “Mach-O Man.”
Citing research from CertiK, the report found that Lazarus sent fake online meeting invitations to fintech and crypto executives. Victims were instructed to paste supposed repair or verification commands into the macOS Terminal, which installed malware capable of stealing cryptocurrency and corporate information.
CertiK also found that the Mach-O Man toolkit deleted itself after running, making forensic analysis more difficult. The campaign combined social engineering with terminal-level commands instead of relying only on malicious file downloads.
Developer tools have provided another route into crypto systems. In May, crypto.news reported that TrapDoor malware was distributed through poisoned software packages targeting developers in cryptocurrency, decentralized finance, artificial intelligence, and security infrastructure.
According to that report, TrapDoor sought wallet data, API keys, cloud credentials, and SSH access tied to services and ecosystems including Coinbase, Binance, MetaMask, Brave, Solana, Sui, and Aptos. Researchers also found hidden prompts designed to manipulate Claude and Cursor into running fake security scans that exposed secrets and transmitted them to the attackers.
Crypto World
France Orders ISPs to Geoblock Polymarket Over Gambling Rules
France’s gambling regulator has ordered internet service providers to block access to Polymarket, escalating a wave of restrictions aimed at prediction platforms operating outside local authorizations.
In a Friday press release, the Autorité nationale des jeux (ANJ) said prediction websites fall under illegal gambling rules if they are not authorized, adding that advertising or promoting such sites is a criminal offense punishable by fines of up to 100,000 euros.
Key takeaways
- France’s ANJ has ordered ISPs to block Polymarket, citing lack of authorization and illegal gambling promotion risks.
- The regulator argues Polymarket’s features resemble regulated gambling, but without “protective mechanisms” found in the legal market.
- ANJ also raised concerns about possible outcome manipulation, including allegations involving weather-related contracts.
- Polymarket has already been geoblocked in multiple regions, according to its own documentation.
- Regulatory scrutiny is not limited to Europe: similar legal disputes have played out in the US between state actors and federal authorities.
France moves to block Polymarket
The ANJ’s order targets access to Polymarket through internet service providers, framing the platform as an unauthorized gambling offering. According to the regulator, Polymarket’s operations are not authorized in France, and the advertising of gambling sites without permission constitutes a criminal offense.
The decision comes as prediction markets continue to gain mainstream attention. Polymarket, in particular, has grown rapidly over the last two years, with trading volume reaching billions of dollars, even as regulators worldwide question whether its event contracts are gambling products, unlicensed offerings, or something closer to financial instruments.
France’s action also reinforces a broader pattern of country-by-country enforcement. Polymarket access has been blocked in places including Singapore, Poland, Portugal, Hungary, Ukraine, Brazil, and Indonesia, while at press time Polymarket said it was geoblocked in 36 regions, based on its published API documentation.
ANJ cites “addictive” mechanics and missing safeguards
Beyond the authorization question, the ANJ’s reasoning focuses on how prediction products are experienced by users. The regulator said Polymarket offers “addictive features” that are comparable to those of legally regulated gambling, but it claims those features are “amplified by the absence of the protective mechanisms found in the legal gambling market.”
This distinction matters for investors and users because it goes to how regulators classify the product. When a platform resembles regulated gambling mechanics but lacks corresponding protections—such as consumer safeguards and oversight—authorities are more likely to pursue takedowns, advertising restrictions, and access blocking, even if the platform markets itself as a different kind of market.
Outcome manipulation concerns and investigation status
The ANJ also pointed to the risk of outcome manipulation in certain event contracts. It cited alleged rigging, including a specific example: bets tied to weather outcomes where the regulator said weather sensors may have been hacked.
“Some of the bets offered on this platform appeared to be rigged: for example, bets on the weather revealed that weather sensors may have been hacked.”
In addition, the cybercrime unit of the Paris Public Prosecutor’s Office opened an investigation in May 2026 and, according to the article’s account of the regulator’s findings, identified a lack of identity verification safeguards such as Know Your Customer checks.
For participants, this kind of enforcement pressure highlights a key operational fault line: regulators are not only focused on contract structure, but also on platform controls—especially around participant verification and the reliability of the information used to settle outcomes.
France builds on earlier warnings, while US regulators escalate
This is not France’s first move. Earlier coverage noted that the ANJ shared plans in November 2024 to block Polymarket after the platform allegedly failed to comply with national gambling laws, and the Friday decision follows through with the required ISP-level blocking.
The French action arrives amid an ongoing legal fight over prediction markets in the United States. On June 17, Kentucky sued five prediction market platforms, including Kalshi and Polymarket, alleging they were operating unlicensed sports betting platforms—according to the earlier reporting cited in the article. Additional states have followed suit. Separately, the Commodity Futures Trading Commission (CFTC) has sued New Mexico, arguing that state-level interference encroached on the federal regulator’s exclusive authority over federally regulated event contracts, as reflected in the referenced CFTC dispute.
Taken together, the US and France developments underscore a persistent regulatory tension: prediction markets sit at the intersection of gambling law, securities and commodities frameworks, and consumer protection rules. Even when platforms frame themselves as market infrastructure for forecasting rather than wagering, regulators appear willing to treat them as gambling-like products when participation mechanics and consumer risk resemble traditional betting.
As France implements the ISP blocking order, the next question for readers and market participants is how Polymarket and other affected platforms will adjust compliance, identity verification, and settlement-risk controls—and whether the broader trend shifts from geoblocking to more formal legal resolutions in major jurisdictions.
Crypto World
Ethereum braces for CLARITY vote as bulls defend crucial support
Ethereum has risen 1.8% to $1,845 after Rep. Bryan Steil raised hopes for a Senate vote on the CLARITY Act next week, while ETF inflows and firm chart support kept traders cautiously bullish.
Summary
- Ethereum rose 1.8% as Bryan Steil raised hopes for a CLARITY Act vote next week.
- Spot Ethereum ETFs recorded $105 million in weekly inflows, their highest since April.
- ETH must defend $1,830 and break $1,854 to target the $1,947 resistance zone.
Steil, who chairs the House Financial Services Subcommittee on Digital Assets, told FOX Business that the bill could reach the Senate floor in the coming week. Passage could place ETH under a digital commodity framework and establish federal rules for its trading and oversight.
During a July 17 hearing, Steil urged lawmakers to complete the legislation as the Senate prepares to consider it. “Let’s pass CLARITY,” he stated in remarks published by the House Financial Services Committee.
Polymarket traders raised the probability of the bill becoming law in 2026 to 39% from 30% on July 17. However, unresolved disputes over ethics rules and stablecoin yields have kept the odds below 50%.

Institutional flows have also improved. SoSoValue data showed that spot Ethereum ETFs attracted $105 million between July 13 and July 17, their strongest weekly inflow since April.
Ethereum’s decentralized finance activity has grown alongside the ETF demand. DeFiLlama placed the network’s total value locked at about $40.5 billion, up from roughly $36 billion at the start of July. The network also processed $978.9 million in decentralized exchange volume and 2.46 million transactions over the past 24 hours.
Ethereum must clear $1,854 to reopen the path toward $1,947
Ethereum’s daily chart shows a double-bottom structure formed around $1,511, with the neckline near $1,847. ETH briefly climbed to $1,947 before returning to test the neckline, which now overlaps with the 0.786 Fibonacci retracement at $1,853.82.

A daily close above $1,854 would place the recent $1,947 high and the 100-day exponential moving average near $1,939 back in play. The double-bottom structure has a measured target near $2,180, while crypto analyst Michaël van de Poppe expects $2,200 to $2,400 if the $1,780 support remains intact.
Daily momentum still favors buyers, although the pace has slowed. The MACD line stands at 35.57, above the 21.69 signal line, while the positive histogram has contracted to 13.88. The relative strength index sits at 57.15, leaving ETH below overbought territory.
On the 4-hour chart, Ethereum (ETH) remains inside an ascending channel that has guided the recovery since late June. Its lower boundary and the previous Supertrend support meet around $1,830, while the upper boundary extends toward $2,040. Chaikin Money Flow remains positive at 0.07, but the active Supertrend resistance at $1,908 must fall before buyers can retest the July high.

CoinGlass’ 48-hour liquidation heatmap places the nearest dense leverage cluster between $1,860 and $1,870. More positions sit around $1,900, while downside liquidity has accumulated near $1,810 and $1,790.

According to analyst Ted Pillows, the $1,820–$1,850 region will decide ETH’s next move.
“If Ethereum holds above it, expect another uptrend towards $1,950–$2,000.”
A break below $1,780 would weaken Ethereum’s recovery
Ethereum would lose its 4-hour channel if sellers force a close below $1,830. Such a move would expose the 50-day EMA near $1,812 and could trigger leveraged long liquidations around $1,810.
A deeper decline below the 61.8% Fibonacci level at $1,780.64 would weaken the double-bottom setup and open the 50% retracement at $1,729.24. Pillows also cited the escalating U.S.-Iran situation as a risk to the $1,820–$1,850 support zone.
Political uncertainty remains another invalidation risk. Failure to resolve the CLARITY Act’s ethics and stablecoin provisions could delay a Senate vote, remove the immediate catalyst behind ETH’s rebound, and place the $1,780 support under renewed pressure.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Crypto World
Wall Street adapts to new era of Federal Reserve communications
F/m Investments’ Washington, D.C., office is just a short drive from the Federal Reserve‘s headquarters. But under the central bank’s new leadership, CEO Alexander Morris has found the distance feeling far greater.
Fed Chairman Kevin Warsh embarked on an overhaul of the central bank’s forward-looking communication since taking the post in May. That move sounded the alarm for market participants like Morris, whose investing theses rely in part on predicting what the Fed will do with interest rates.
“We’ve made a pretty good business out of decoding Fedspeak,” said Morris, referring to the jargon-heavy communication preferred by central bank leaders. “And he just said he was going to go quiet on us.”
This week, Morris’ firm, which manages exchange-traded funds tied to inflation and U.S. Treasurys, released “WarshGPT.” It’s an artificial intelligence-powered tool that parses nearly 1,800 documents and transcripts from Warsh, with the goal of helping users understand how he may analyze issues related to the economy or monetary policy.
F/m Investments is one of many financial institutions readying for an era with less public forecasting from Warsh’s Fed. In some cases, they’re turning to AI models to gain an edge in investing.
“Whether the Fed is providing a lot of information or a little information, investors have to understand what the Fed is likely to do in the future,” said Gary Richardson, a former historian at the central bank who’s now a University of California, Irvine, economics professor. “With limited information, people are going to try to do anything they can to figure out what the Fed is thinking.”
US Federal Reserve Chair Kevin Warsh speaks during his first news conference since taking the helm at the central bank on June 17, 2026 in Washington, DC.
Chen Mengtong | China News Service | Getty Images
Greetings and briefcase sizes
Investors and Fed watchers have wondered if former Chairman Alan Greenspan‘s communication style can serve as a baseline for what to expect under Warsh.
In that era, Richardson said people joked that Greenspan simply saying “good evening” could cause a market decline. Financial media tracked a so-called briefcase indicator, which operated on the theory that Greenspan carrying a bulkier bag meant he accumulated evidence for why borrowing costs should be altered.
Alan Greenspan
Anjali Sundaram | CNBC
Already, Warsh has made expectations clear for a shift in how the Fed publicizes information. One of his task forces aimed at reshaping the Fed’s operations is focused on how the central bank communicates.
June’s Federal Reserve meeting statement — the first such release under Warsh — contained around 130 words, down from figures above 300 words seen in prior publications, a CNBC analysis found. Warsh, who acknowledged the statement was “shorter” and “simpler,” said it purposefully excluded forward guidance.
In his first post-decision press conference as chairman, Warsh allocated 5% of sentences to policy-relevant topics, according to UBS. That number came in at 27% for an average meeting under predecessor Jerome Powell, the bank said.
‘One word can move dollars’
F/m Investments’ WarshGPT chatbot cost less than $1,000 to build with Anthropic‘s Claude model, despite the name being a riff on rival OpenAI‘s ChatGPT. It took roughly two weeks to create from inception to release, a timeframe that included pre-rollout testing by a group that included Fed alumni and newsletter writers.
In addition to Warsh’s communications, the product also taps into economic and political history to ensure its responses have context. But F/m set limits to what WarshGPT can do: The bot doesn’t talk as Warsh and will not offer offer forward statements or forecasts.
F/m isn’t the only large firm reconsidering its strategies and tools for understanding a Warsh-led central bank.
UBS runs an interactive dashboard for clients to track the Fed’s policy tone. It allows users to have an unbiased assessment of Warsh’s commentary during meetings, according to Elena Amoruso, a strategist at the Swiss bank.
Following Warsh’s debut policy meeting as chief last month, Amoruso told clients that Warsh’s policy-relevant comments were “overwhelmingly hawkish.” The central bank leader’s stance was driven by his views on the labor market and growth, she said, in addition to the state of inflation.
“Arguably, this is the most high-value data set … in terms of how much one word can move dollars,” Amoruso told CNBC.
At JPMorgan Asset Management, chief global strategist David Kelly has some backup plans if the Fed stops putting out key releases. If the central bank does away with the “dot plot,” for instance, Kelly said his team will more closely mull over speeches by members of the Federal Open Market Committee — the group tasked with setting interest rates — to get a sense of how they would next vote.
To be sure, Kelly said major changes to Fed communication would likely take several months to announce and implement. He said the final decisions may not be as drastic as some expect.
“Just like the Federal Reserve says it can be patient in adjusting interest rates to the economy, we can be patient in adjusting our resources,” Kelly said.
‘Less clarity’
Still, investors anticipate having less forward guidance from the Fed could result in bigger market swings after policy decisions or members’ public appearances. Some traders see a chance to rake in larger returns in this environment.
“If there’s less communication about the reaction function, I actually think that’s a negative for the economy,” said Steve Friedman, a New York Fed alum who’s now senior macroeconomist at MacKay Shields. However, “less clarity about what the Fed may do can actually be a source of alpha for investors if you have a robust framework for thinking about the economy and monetary policy.”
If Warsh dials back public speaking engagements, Friedman said he would more closely monitor speeches from Fed Governor Christopher Waller. Friedman described Waller as a “bellwether” for the broader committee.
Waller said this week that the Fed shouldn’t be focused on “fighting the last war” with inflation, but that interest rate hikes could still be on the table.
Christopher Waller, governor of the US Federal Reserve, during the Federal Reserve’s Payments Innovation Conference in Washington, DC, US, on Tuesday, Oct. 21, 2025.
Aaron Schwartz | Bloomberg | Getty Images
Retail traders may need to further diversify their portfolios to account for added policy uncertainty under Warsh, according to UC-Irvine’s Richardson. Investment firms looking to get ahead, meanwhile, will be spending big to hire Fed alumni who can help make predictions in a lower-transparency environment, Richardson said.
There are already differing expectations forming for how the Fed will proceed with policy in the coming months.
Fed funds futures traders are pricing in an almost 59% likelihood that the central bank increases interest rates in September, according to CME’s FedWatch tool. On the other hand, Kalshi traders think it’s most likely that the Fed will keep rates unchanged at that meeting.
“For ordinary investors, it’s already really hard for them to figure out what’s going on,” Richardson said. “It’s going to become much harder.”

Crypto World
Kaspersky Uncovers Malware Framework Targeting Crypto Investors
Kaspersky has uncovered a new malware framework targeting cryptocurrency investors.
Dubbed “OkoBot,” the malware initiates an infection chain that starts with social engineering tactics such as ClickFix, which tricks users into running malicious commands, or trojanized GitHub apps that deliver a backdoor to infected devices, the cybersecurity company wrote in a Wednesday report.
The malware can harvest crypto wallet files, browser data and user credentials, inject malicious extensions and capture wallet application windows to steal assets. Kaspersky said it identified multiple attacks involving this malware family since January 2026.
Kaspersky added that the malware framework evolved from “TookPS,” a malware campaign first identified in 2025 that distributed a Trojan downloader through fake software websites, and that it opens the door to copycat attacks.
It differs from prior campaigns by orchestrating all 20 malicious payloads via an SSH tunnel, which enables the remote transport of data from infected computers to remote machines controlled by attackers.

Original OkoBot infection chain. Source: Kaspersky
Fake LinkedIn recruitment campaigns target Web3 developers with malware
Separately, a new malware campaign is seeking to infiltrate the devices of Web3 developers via fake LinkedIn recruitment opportunities, according to SlowMist.
Attackers contact blockchain developers via LinkedIn, posing as Web3 recruiters. They then send fake GitHub repositories to victims, claiming they contained the minimum viable product that needed to be tried before the interview, the blockchain security company said in a Saturday report.
The workflow closely resembles a legitimate technical interview where developers pull code, install dependencies and launch a project, which makes it difficult to notice the attack, according to SlowMist.
Related: UK sentences 2 hackers tied to $115M crypto ransom scheme
The malware aims to deliver a complete “remote access trojan” that infects devices, enabling attackers to steal project keys, cloud credentials, or wallet extension data from these developers.
“This attack is not an isolated case,” wrote SlowMist, adding that recent incidents illustrate that “attackers are increasingly leveraging scenarios such as recruitment, code reviews and project collaborations to trick developers into actively running malicious repositories.”
The report came a day after SlowMist warned of a separate malware campaign targeting macOS users, aiming to steal their credentials and hijack their Telegram sessions to ultimately trick investors into entering their wallet recovery phrases through fake websites.
Magazine: Does Botanix’s failure prove Bitcoiners don’t care about DeFi?
Crypto World
Cathie Wood buys SpaceX dip after stock sinks to post-IPO low
Cathie Wood’s ARK Invest has bought $18.3 million of SpaceX shares after the stock fell 5.43% to a new post-IPO low, according to the firm’s July 17 trading report.
Summary
- ARK Invest bought $18.3 million of SpaceX shares after the stock hit a post-IPO low.
- Four ARK ETFs acquired 147,623 shares as SpaceX closed 8.2% below its IPO price.
- SpaceX delayed Starship Flight 13 after two Raptor engines failed during pre-flight testing.
According to ARK’s daily disclosure, four of its actively managed exchange-traded funds purchased a combined 147,623 SpaceX shares as the stock closed Friday at $123.99. During the session, shares dropped as low as $122.12.

The ARK Innovation ETF made the largest purchase, adding 95,129 shares worth about $11.8 million based on Friday’s closing price. ARK’s Autonomous Technology & Robotics ETF bought 30,464 shares valued at $3.78 million, while its Space Exploration & Innovation ETF added 12,611 shares worth around $1.56 million.
Completing the purchase, the ARK Next Generation Internet ETF acquired another 9,419 SpaceX shares valued at approximately $1.17 million, according to the same disclosure.
ARK adds to its SpaceX position below the IPO price
Friday’s purchase has extended a series of SpaceX investments made by Wood’s firm since the company entered the public market in June.
As crypto.news previously reported, ARK bought roughly $52.1 million of SpaceX shares during the week ending July 10 through the ARKK, ARKQ, ARKW and ARKX funds. Data from Ark Invest Tracker showed that those purchases lifted the firm’s investment since the June IPO above $475 million.
Ark Invest Tracker also reported that ARK acquired about $444 million of SpaceX stock around the company’s June 12 market debut. Its latest purchase came with the shares trading 8.2% below their $135 offer price, based on Friday’s closing value.
While adding to SpaceX, ARK reduced its exposure to Robinhood Markets during the same trading session. The firm’s report showed that ARKW sold 20,089 Robinhood shares and ARKK disposed of another 5,913 shares.
Robinhood ended Friday at $99.96 after losing 5.72% during the session. ARK’s disclosure did not provide a reason for selling the 26,002 shares.
Starship delay adds pressure to SpaceX shares
As crypto.news reported, SpaceX’s latest decline followed the cancellation of Starship Flight 13 shortly before its scheduled launch. According to the report, at least two Raptor engines on the Super Heavy booster failed to ignite during pre-flight testing, prompting the company to stop the mission minutes before liftoff.
Elon Musk later stated that SpaceX would replace the affected engines. The company subsequently rescheduled Flight 13 for July 20 at 6:45 p.m. ET.
Commenting on the stock’s decline, cognitive scientist Gary Marcus linked the latest weakness to rising doubts about Musk’s performance. Marcus expected another record low to be more likely than a sudden and much larger collapse, according to his assessment cited in the report.
Tesla investor Sawyer Merritt offered a different view, arguing that traders had overreacted to a short operational delay. Merritt maintained that postponing the launch by several days did not represent a serious setback for SpaceX.
Crypto World
The ETF Battle Between Gold and Bitcoin: Is BTC Really Losing?
2026 has been quite interesting and unexpected in terms of investments. Gold and silver started the year strong with massive gains and new all-time highs, while BTC has been mostly trading downward.
While bitcoin’s correction intensified after the January rejection at $95,000, the two largest precious metals tumbled as well. Perhaps a large portion of gold’s losses could be attributed to how investors turned on the largest ETF tracking its performance.
Will GLD Stage a Comeback?
Data provided by the analysts at the Kobeissi Letter indicated that the world’s largest gold-backed ETF, World Gold Council’s GLD, has seen a substantial investor exodus that began in March this year. In the span of just the third month of the year, the financial vehicle lost a whopping $8.5 billion. This became the largest monthly withdrawal in GLD’s 22-year history.
This worrying trend eased to an extent in the following months, but red continued to dominate. Investors pulled out $1.7 billion in April, a more modest $872 million in May, and $3.2 billion in June. The mid-month data for July shows that the withdrawals have dropped to under $50 million, prompting the analysts to speculate whether the gold market is “setting up for a comeback.”
BREAKING: The largest US gold-backed ETF, $GLD, has recorded -$14.4 billion in outflows since March 1st.
This is 50% more than the -$9.6 billion in outflows seen across all Bitcoin ETFs since the October peak.
In March alone, investors withdrew -$8.5 billion from $GLD, the… pic.twitter.com/0Wvwlqxpxi
— The Kobeissi Letter (@KobeissiLetter) July 16, 2026
These net outflows coincided with gold’s price collapse. The bullion peaked at $5,600/oz in late January, but it has lost nearly 30% of its value since then, declining to $4,000/oz as of Friday’s close.
BTC ETFs Bleed Too
With roughly $130 billion in AuM, GLD is more than twice as big as all spot Bitcoin ETFs combined. As such, it’s rather difficult to compare the respective net outflows. Nevertheless, the ongoing narrative is that investors have turned on BTC, which is supported by the recent negative streak that began in May.
In the span of approximately two months, investors pulled out just over $8 billion from all BTC ETFs, pushing the cumulative total net inflows down to $51.22 billion from $59.34 billion. June was the worst month, with over $4.5 billion leaving the funds, which was more than GLD’s exodus.
Perhaps it’s no surprise that the underlying asset’s price performance has been quite painful within this timeframe. BTC was rejected at $83,000 when the withdrawal wave began in mid-May, and plunged to a multi-year low of $57,700 on July 1. Although it has recovered some ground since then, the ETFs’ behavior remains highly uncertain to support a more profound rally.

The post The ETF Battle Between Gold and Bitcoin: Is BTC Really Losing? appeared first on CryptoPotato.
Crypto World
French Gambling Regulator Orders ISPs to Block Polymarket Access
France’s national gambling regulator has ordered internet service providers to block access to Polymarket, arguing that the platform operates like illegal gambling in the country. The Autorité nationale des jeux (ANJ) said Polymarket’s services are not authorized in France and warned that promoting unapproved gambling sites can trigger criminal penalties.
The move underscores how prediction and “event contract” platforms continue to run into regulatory friction across Europe and beyond—particularly over whether these products should be treated as gambling, unlicensed financial instruments, or something else entirely.
Key takeaways
- The ANJ directed French ISPs to block Polymarket, saying its prediction contracts amount to illegal gambling under French law.
- The regulator cited “addictive” mechanics and the absence of protective safeguards common in regulated gambling markets.
- ANJ also pointed to concerns that certain outcomes could be manipulated, including references to hacked weather sensors.
- France joins a growing list of jurisdictions that have restricted Polymarket access.
France orders ISP-level blocks
In a Friday press release, France’s Autorité nationale des jeux (ANJ) said it considers online prediction platforms to be illegal gambling when they are not authorized through the regulated framework. Based on that determination, the regulator ordered internet service providers to block access to Polymarket.
The ANJ stated that Polymarket’s operations are not authorized in France. It also highlighted that advertising gambling services without authorization is a criminal offense, with fines that may reach 100,000 euros (about $114,000), according to the regulator.
For investors, traders, and users, the practical impact is straightforward: even if markets can still be accessed through other means, ISP-level blocking raises friction, reduces discoverability, and increases the likelihood that marketing and distribution channels are disrupted inside the country.
Regulatory concerns: missing safeguards and possible manipulation
Beyond the authorization question, ANJ argued that Polymarket’s user experience resembles regulated gambling offerings, but without the protective mechanisms found in the legal market. The regulator described the platform as having features that can be “addictive,” while emphasizing that France’s authorized gambling environment includes safeguards that are not present on Polymarket.
ANJ further said some event contracts raised manipulation risks. In particular, the regulator referenced cases suggesting bets may have been “rigged,” including weather-related markets where weather sensors allegedly could have been hacked.
“Some of the bets offered on this platform appeared to be rigged: for example, bets on the weather revealed that weather sensors may have been hacked.”
The regulator linked the concerns to findings tied to an investigation by the cybercrime unit of the Paris Public Prosecutor’s Office, which reportedly began in May 2026. ANJ also said investigators identified a lack of identity verification measures, such as Know Your Customer (KYC) checks.
That combination—gamification-style incentives plus weak identity controls plus questions about how external data is validated—has become a recurring theme in regulators’ critique of online prediction products. If identity and data integrity remain unresolved, platforms face higher odds of being treated as gambling rather than as a form of regulated markets activity.
France follows a broader crackdown pattern
France is not alone. According to the article being rewritten, multiple countries have already moved to block or restrict access to Polymarket, including Singapore, Poland, Portugal, Hungary, Ukraine, Brazil, and Indonesia.
At the time of writing, Polymarket indicated it had implemented geoblocking in 36 regions, pointing to the reality that regulatory compliance often arrives as region-by-region access controls. Still, an ISP block order like the one announced by France changes the enforcement posture: instead of relying only on platform-side geofencing, the regulator targets the local internet access layer.
France’s action also fits with its earlier warning signals. The ANJ previously shared plans to block Polymarket in November 2024, citing failures to comply with French gambling rules. The new ISP order therefore represents a formal escalation from planning to execution.
Global pressure from US regulators
Regulatory scrutiny around prediction market platforms is not limited to Europe. In the United States, multiple legal challenges have centered on whether these platforms operate as unlicensed sports betting, and whether states can regulate them without conflicting with federal authority over certain event contracts.
According to earlier coverage referenced in the source material, on June 17 Kentucky sued five prediction market platforms—including Kalshi and Polymarket—arguing they were operating unlicensed sports betting. The same reporting states that at least 17 other states joined similar actions.
The source also notes that the Commodity Futures Trading Commission (CFTC) sued eight states, arguing they interfered with the agency’s exclusive authority over federally regulated event contracts. Taken together, these US developments show a fragmented regulatory landscape where platforms can face lawsuits on both sides of the jurisdiction question: whether they should be classified as gambling/sports betting under state frameworks, or as instruments governed by federal commodities and derivatives rules.
For readers trying to gauge what comes next, the key variable is classification—how regulators decide whether prediction contracts are gambling products requiring licensing, or market instruments subject to a different compliance regime. France’s ANJ decision makes one side of that argument explicit.
As France moves to block Polymarket at the ISP level, market participants should watch for how Polymarket responds in practice—whether it can modify compliance to address authorization, identity verification, and data integrity concerns—and whether other European regulators follow France’s lead with similar enforcement steps.
Crypto World
Ripple Payments Joins MiCA With 14 Firms, Does It Mean Anything For XRP?
Ripple Payments Europe joined 14 firms added to the European MiCA register, lifting the total of authorized crypto providers across the bloc to 294.
The update confirms Ripple’s regulated foothold in Europe, though licensing momentum is clearly cooling.
Ripple Payments Secures Its Regulated Foothold in Europe
MiCA is the European Union framework that requires crypto companies to hold a Crypto Asset Service Provider license before offering regulated services. The European Securities and Markets Authority maintains the central register listing every approved firm.
Ripple Payments Europe was added to the list after receiving full authorization from Luxembourg’s financial regulator, the CSSF. The entity now operates as the company’s regulated payments arm across the European Economic Area.
The license unlocks passporting rights covering 30 countries. That mechanism allows a single national approval to cover the entire bloc, replacing the previous patchwork of separate national permissions.
The CASP authorization pairs with Ripple’s existing electronic money institution license in Luxembourg. Together, both permissions allow European banks, fintechs, and corporates to collect, exchange, and pay out through a single integration.
The company holds more than 75 regulatory licenses worldwide, including approval from the UK Financial Conduct Authority secured in January.
What Does the Latest MiCA Update Reveal
The composition of the update tells its own story. The 14 new entries span 10 European countries and include banks, exchanges, payment providers, and Bitcoin-focused platforms.
Portugal’s Bison Bank, Croatia’s state-owned Hrvatska poštanska banka, and Liechtenstein’s Kaiser Partner Privatbank all appeared alongside two German cooperative banks. MiCA authorization clearly extends well beyond crypto-native firms.
The register already includes heavyweight institutions such as BBVA, CaixaBank, Commerzbank, and Standard Chartered Luxembourg. Traditional finance is quietly building regulated crypto capacity across Europe.
The overall pace, however, has slowed noticeably. ESMA added 37 providers on July 3, right after the transitional period closed, compared with just 14 this week.
Markets stayed largely unmoved by the news. XRP trades near $1.07, with a market capitalization above $67 billion, down roughly 3.46% over the past 24 hours, according to BeInCrypto data.
The token sits about 70% below its record high of $3.65. Regulatory progress, once again, has failed to translate into price momentum.
What the License Means for XRP and RLUSD
The authorization matters more than the price for infrastructure. The CASP license allows Ripple to move crypto assets legally within the bloc, while the electronic money institution permission covers the fiat side of each transaction.
That combination is the relevant part for RLUSD, Ripple’s dollar-pegged stablecoin. Under MiCA, stablecoins fall into a separate category, and only credit institutions or electronic money institutions can issue them within Europe.
Holding both permissions in Luxembourg places Ripple in that narrow group. Whether RLUSD eventually launches as a fully regulated European product remains a separate decision, still unannounced.
For XRP, the impact stays largely indirect. The token settles transfers on the XRP Ledger, so wider institutional use of Ripple’s payment rails could increase transactional demand over time.
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The post Ripple Payments Joins MiCA With 14 Firms, Does It Mean Anything For XRP? appeared first on BeInCrypto.
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