South Korea has given Polymarket an opportunity to defend its operations before regulators decide whether to seek corrective action over concerns that the prediction market platform may violate the country’s gambling laws.

The Broadcasting, Media and Communications Review Committee said on Monday that it will hear Polymarket’s explanation before reaching a final decision on a corrective request tied to the platform’s legality and service model. According to a machine translation of the committee’s statement, regulators decided to allow the company to present its position so they could fully examine both the legal status of Polymarket and how its services operate.

Rather than issuing an immediate recommendation, the committee said it wanted to verify whether the platform’s activities fall within South Korea’s legal framework governing online gambling-related services. The review could determine whether authorities proceed with corrective measures against the platform.

Regulators are reviewing whether Polymarket violates gambling laws

South Korea’s National Gambling Control Commission Act classifies illegal gaming businesses as services that facilitate speculative gambling over the internet. The law also gives regulators authority to identify, monitor, and respond to businesses that may fall into that category.

As part of that review, authorities are assessing whether Polymarket’s prediction markets comply with domestic regulations. The committee’s decision to seek the company’s response comes before any final enforcement recommendation is made.

Outside South Korea, Polymarket already limits access in multiple jurisdictions. According to the company, users in 33 countries cannot access its platform, including the United States, the United Kingdom, France, Germany, Brazil, Singapore, Japan and Australia. Polymarket says those restrictions are designed to comply with sanctions, local financial regulations, gambling and prediction market laws, anti-money laundering requirements and Know Your Customer rules.

The company also blocks access in selected regions within otherwise supported countries, including Alberta, British Columbia, Ontario and Quebec in Canada, along with Crimea, Donetsk and Luhansk in Ukraine.

Authorities have expanded scrutiny beyond individual users

Attention from South Korean authorities has increasingly moved beyond local users to the platform itself. The latest review follows an earlier criminal investigation involving South Korean users who allegedly participated in election-related prediction markets that authorities considered illegal gambling.

On June 5, the Gangwon Provincial Police opened what local media described as the country’s first investigation into local Polymarket users over suspected illegal gambling. According to those reports, the investigation was requested by the National Police Agency.

South Korean law carries financial penalties and possible prison terms for gambling-related offences. Under the country’s Criminal Act, gambling can result in a fine of up to 10 million won (about $6,500), while habitual gambling may carry a prison sentence of up to three years or a fine of up to 20 million won. Separately, operating a gambling venue for profit is punishable by up to five years in prison or a fine of up to 30 million won.

For now, the review committee has not announced any enforcement action against Polymarket. Instead, regulators have chosen to consider the company’s explanation before deciding whether corrective measures should be requested, leaving the platform’s status in South Korea dependent on the outcome of that legal assessment.

Ripple said it has received full authorization under the European Union’s MiCA crypto framework after Luxembourg’s financial regulator granted the company a Crypto Asset Service Provider (CASP) license.

The authorization follows Ripple’s preliminary approval in June and, together with the company’s existing Electronic Money Institution license, allows the blockchain payments company to offer regulated crypto-asset services across the European Economic Area (EEA).

Ripple said the approval makes it one of a small number of digital asset companies with full authorization under MiCA. The company now holds more than 75 regulatory licenses worldwide, including authorization from the United Kingdom’s Financial Conduct Authority secured in January.

“This CASP authorisation means Ripple enters the post-transitional MiCA era fully compliant and ready to scale,” said Cassie Craddock, Ripple’s managing director for the United Kingdom and Europe.

Source: Cassie Craddock

Related: Binance outflows triple to $1.2B as ETH withdrawals hit 3-year high

Europe begins enforcing MiCA crypto rules

Ripple’s approval follows the end of the European Union’s MiCA transition period on July 1, when crypto companies were required to obtain authorization or cease offering regulated services in the bloc. The framework allows authorized companies to generally passport regulated crypto services throughout the EEA under a single license.

On Friday, the European Securities and Markets Authority (ESMA) published an updated register listing 280 licensed crypto-asset service providers. The total rose from 243 a week earlier after 37 companies, including Standard Chartered, FalconX and Sygnum Europe, were added.

Not every company secured MiCA authorization before the deadline. Binance, the world’s largest cryptocurrency exchange by trading volume, withdrew its MiCA application in Greece ahead of the July 1 transition and said it would pursue authorization in another member state while taking steps to comply with the bloc’s new rules.

The bloc has now entered MiCA’s enforcement phase, with unauthorized crypto companies expected to wind down operations or face penalties. While ESMA coordinates supervision and maintains the bloc’s register of authorized crypto companies, day-to-day enforcement is carried out by national regulators, meaning implementation is likely to vary across member states.

Belgium’s Financial Services and Markets Authority has already begun applying the new rules. On Monday, the regulator identified six crypto-asset service providers it said were operating without authorization and added them to its list of unauthorized crypto-asset service providers.

Belgium’s FSMA warns against unauthorized crypto providers. Source: FSMA

Magazine: Japanese pension fund tips 1% in crypto, G7 urges action on NK hackers: Asia Express

Red candles don’t scare everyone off the market this week. Polkadot sits near $0.83 after a 6.53% weekly slide, still pinned below its major moving averages, while Zcash trades closer to $411.72 following a steadier 3.22% bounce off support. Both charts tell a familiar story of hesitation, sellers still holding one asset down and buyers slowly testing their footing under the other.

Then BlockDAG (BDAG) shifts the conversation entirely. Priced at $0.00000066 with a $0.03 buyback figure, the math points toward a 150X outcome, and a 100% World Cup bonus can push that toward 300X. BlockDAG X has opened pre-registration, and anyone who signs up before launch walks away with $1,000 in trading credit, making it the top crypto to buy today.

Polkadot Slips to $0.83 Under Bearish Pressure

The Polkadot price recently dipped to $0.83, marking a 6.53% decline over the past week. This drop keeps the asset well below its key weekly moving averages, confirming that sellers still control the market’s medium- and long-term direction.

Technical indicators like the MACD and RSI show strong downward momentum, with no immediate buy signals in sight. Because of this, the Polkadot price is expected to consolidate between $0.75 and $0.91 over the next week.

While the outlook remains cautious, some analysts suggest these deeply oversold conditions could eventually set up a reversal. However, until the Polkadot price breaks above $0.91, the current downtrend is likely to continue.

Zcash Holds Key Support Signaling Potential Rebound

The Zcash price has shown early signs of a rebound, recently rising 3.22% to trade around $411.72. The coin is currently holding a critical support zone, which technical analysts suggest could serve as the starting point for a broader recovery.

While buying pressure is slowly building, the Zcash price needs to clear immediate resistance levels at $428 and $436.92 to confirm a true bullish breakout. Bollinger Bands show that while selling pressure has eased, the market remains in a consolidation phase.

If buyers fail to defend the current support levels, a drop toward $361.92 could complicate recovery efforts. Ultimately, clearing these overhead barriers is essential for the Zcash price to sustain its upward momentum.

BlockDAG X Pre-Registration Delivers $1,000 Credit Bonus

BlockDAG continues to strengthen its position as one of the top crypto projects to watch, but its biggest milestone yet has just arrived. BlockDAG X is now officially live for pre-registration, marking the project’s next major step ahead of its full exchange launch in just 14 days. With the ecosystem expanding rapidly and the exchange almost here, the timing has made the overall BlockDAG story even more compelling.

The excitement around BlockDAG X goes beyond the launch itself. Users who pre-register at BlockDAGX.io will receive $1,000 in trading credit when the exchange goes live, with Spot Trading, Futures Trading, and dedicated iOS and Android apps available from day one. Those who enter the code “EARLY” will also unlock Priority Buyback Access, moving their payout date forward from October 1 to September 1, an added incentive for early participants.

The exchange launch is backed by an ecosystem that is already seeing significant real-world activity. The BlockDAG Casino has attracted more than 13,000 users in its first month alone, generating over $15 million in deposits and more than $150 million in wagers. These figures highlight that BlockDAG is building products people are actively using, rather than relying solely on future expectations.

The project’s pricing structure further boosts momentum. BDAG is currently available at just $0.00000066 per coin, while holders can sell their coins back to the network for $0.03 each, representing a potential 150X return. On top of that, the World Cup Bonus doubles every BDAG purchase with 100% extra coins, increasing the upside to a potential 300X return.

With BlockDAG X now open for pre-registration, a fully functional exchange launching in just two weeks, an ecosystem already generating millions in user activity, and a pricing model built around significant upside, BlockDAG is entering its next phase with considerable momentum and growing anticipation.

Conclusion

Polkadot’s slide to $0.83 and Zcash’s climb toward $411.72 sum up a week where caution and confidence sit side by side, with $0.75-$0.91 and $428-$436.92 as the levels to watch.

BlockDAG closes the stretch as the top crypto to buy today, with BlockDAG X pre-registration live, $1,000 in trading credit for early sign-ups, Spot and Futures trading, iOS and Android apps, and the EARLY code moving payouts to September 1. Its casino has drawn 13,000 users, $15 million in deposits, and $150 million in wagers, while $0.00000066 against a $0.03 buyback points toward 150X, doubled to 300X by the World Cup bonus.

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Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.

Nigel Farage has been accused of breaking parliamentary rules after convicted criminal and crypto gambler George Cottrell apparently funded staff, security, and housing for the Reform UK leader before his election.

Cottrell, also known as “Posh George,” was recently the subject of an investigation by The Times that detailed his relationships with Farage and billionaire Reform donor Christopher Harborne.  

In this piece, The Times revealed that Cottrell, who is trying to secure a pardon from US President Donald Trump, is a key player in Tether.bet, an offshore crypto gambling firm that appears to be breaking UK laws. 

Since the investigation was published, Liberal Democrat MP Josh Babarinde has referred Farage to the Parliamentary Commissioner for Standards and requested an investigation into the undeclared support. 

Reform MP Robert Jenrick claimed that Cottrell’s support didn’t need to be declared as it was done in a  “purely personal capacity.”

Belgium’s financial markets regulator has added six crypto platforms to its warning list after finding they are operating in the country without the authorization required under the European Union’s Markets in Crypto-Assets MiCA framework.

According to Belgium’s Financial Services and Markets Authority (FSMA), the six crypto-asset service providers (CASPs) named in the latest warning are Aurum Foundation, Bank Bit, Bithf Pro, Dxago, Global Dynamic Trade and ZeriaFunding.

The regulator said these firms have been included in its list of fraudulent CASPs because they are offering services in Belgium without the authorization required under MiCA rules.

Issued just days after the European Union’s July 1 licensing deadline, the notice comes as national regulators begin enforcing the bloc’s new crypto framework following the end of the transitional period. The FSMA urged consumers not to respond to offers from the listed firms and advised them to verify whether a crypto service provider appears in its official register before using its services.

Enforcement begins after MiCA transition ends

With the transitional arrangements now over in Belgium, the FSMA said only authorized CASPs are permitted to provide regulated crypto services in the country. These services include crypto custody, trading platforms, crypto-to-fiat and crypto-to-crypto exchange, order execution, transfer services, investment advice and portfolio management.

At the beginning of July, Belgium’s national transition period expired, bringing the country in line with the EU-wide requirement that existing crypto businesses either secure MiCA authorization or stop offering regulated services. The licensing deadline has become an important compliance milestone for exchanges and other digital asset companies operating across the European Union.

Introduced at the end of 2024, MiCA establishes a single regulatory framework for crypto-asset issuers and service providers throughout the EU. Instead of following different national licensing systems, firms seeking to operate across member states are expected to obtain authorization under the common rulebook before offering regulated crypto services.

Consumer checks remain central to regulator guidance

Alongside its latest warning, the FSMA reminded consumers that crypto assets remain exposed to significant risks. According to the regulator, digital assets can experience sharp price swings, suffer from limited liquidity in certain market conditions and are not protected by a compensation scheme that would reimburse investors if losses occur.

For that reason, the FSMA encouraged users to confirm a provider’s regulatory status through its official CASP register before transferring funds or opening accounts with any crypto platform. The regulator said investors should avoid engaging with firms that are not authorized to operate under the MiCA framework.

Elsewhere in Europe, crypto companies have continued adjusting their regulatory strategies ahead of the new licensing regime. On June 24, crypto exchange Binance withdrew its MiCA license application submitted in Greece and said it planned to pursue authorization in another European jurisdiction before continuing its operations under the new framework.

At the time, Binance stated that it was not exiting the European market but acknowledged that some customers could experience temporary effects while the company worked through regulatory requirements. The development illustrates the operational changes many crypto firms are making as regulators across the European Union begin applying MiCA authorization rules following the July 1 deadline.