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Usdt Mica Ban Reshapes Stablecoin Trading Across Eu Markets Today

Europe’s stablecoin market entered a stricter phase as MiCA reached its full enforcement deadline across member states and licensed platforms. The July 1, 2026, cutoff removed USDT from regulated exchange access across the bloc’s licensed venues. The shift redirects licensed liquidity toward USDC, EURC, and new euro-backed tokens under tighter EU supervision and clearer reserve controls. USDT Loses Its Regulated EU Route Europe has removed USDT from regulated crypto trading as MiCA now reaches full force across licensed markets and service providers. The deadline blocks non-compliant stablecoins from licensed EU exchanges, brokers, and trading venues under the new regime for stablecoin issuers. That decision ends Tether’s direct regulated access to the bloc’s main crypto platforms and order books. The change followed months of phased exchange action rather than one sudden cutoff. Coinbase Europe removed USDT in December 2024, and Crypto.com followed in January 2025 under the same compl...
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Crédit Agricole Launches EURXT Stablecoin on Ethereum

Crédit Agricole has rolled out a new euro-pegged stablecoin, the EURO eXchange Token (EURXT), through its asset servicing arm CACEIS. The launch is part of a broader effort by traditional banks to bring tokenized settlement into mainstream financial workflows, with initial access aimed at institutional investors and corporate clients. According to a Wednesday announcement from CACEIS, the first subscription into EURXT was made into a tokenized Amundi Money Market Fund. EURXT is issued as an electronic money token (EMT) on the Ethereum blockchain and is designed to be pegged 1:1 to the euro. Key takeaways Crédit Agricole’s CACEIS has launched EURXT, a euro-pegged stablecoin issued on Ethereum as an EMT. The token is initially targeted at institutional investors and corporate clients, with early integration into an Amundi tokenized money market fund. EURXT is structured without a hard cap on issuance, with supply expected to scale based on demand via its smart contract system. CA...
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Bank of Korea Governor Details Tokenized Bonds and Unified Ledger Plan

Tokenization of government bonds is moving from concept to a practical roadmap, with officials arguing it could reduce operational friction in issuance and settlement. Hyun Song Shin, governor of the Bank of Korea, highlighted at the European Central Bank (ECB) Forum on Central Banking in Sintra, Portugal, that tokenized bonds can make collateral verification easier and help streamline transaction reversals. Shin framed government debt tokenization as a “big prize,” emphasizing that having the underlying asset and settlement flow tokenized could also reduce the likelihood of mistakes. His remarks also pointed to a broader effort to link multiple tokenized financial assets—central bank money and bank deposits included—on a single ledger as part of the Bank of Korea’s initiative around blockchain-based wholesale CBDC infrastructure. Key takeaways Bank of Korea’s Hyun Song Shin said tokenized government bonds could simplify collateral checks, account crediting, and timed transaction re...
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Crédit Agricole Unveils EURXT Euro Stablecoin for Payments

Crédit Agricole has entered Europe’s regulated stablecoin race with the launch of EURO eXchange Token (EURXT), a euro-backed token issued via its asset servicing arm, Crédit Agricole Caisse d'Epargne Investor Services (CACEIS). The bank says the rollout is intended to accelerate its broader move into tokenized finance, with the stablecoin initially aimed at institutional investors and corporate clients. According to CACEIS’s announcement, the first subscription has already been used to purchase shares in a tokenized Amundi Money Market Fund. EURXT is issued as an electronic money token (EMT) on the Ethereum blockchain, designed to maintain a 1:1 peg to the euro. Key takeaways Crédit Agricole’s CACEIS has launched EURXT, a euro-pegged electronic money token issued on Ethereum and targeted first at institutions and corporates. The stablecoin is structured with no stated hard cap on supply; issuance is expected to scale with demand through its smart contract system. EURXT is bac...
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Circle CEO Highlights USDC’s Network Strength as OUSD Launches

Circle CEO Jeremy Allaire has pushed back on the economic model behind Open USD (OUSD), arguing that stablecoins are “platform businesses” whose competitive edge is built over years through integrations, liquidity, regulatory approvals, and reserve management. In an X post published Wednesday, Allaire said attempts to differentiate new stablecoins by offering permanently free and unlimited minting and redemption, or by sharing most reserve income with partners, may prove difficult to sustain at scale. The remarks come as the industry watches a potential shift in stablecoin competition. Open Standard—backed by more than 140 payments, banking, technology and crypto companies—announced Open USD on Tuesday, with the token expected to launch later in 2026. The project, which includes well-known participants such as Visa, Mastercard, Stripe, Coinbase, BlackRock and Google, is widely seen as a direct challenge to the market dominance of Circle’s USDC and Tether’s USDT. Key takeaways Jeremy ...
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Last-Minute MiCA Approvals Close EU Crypto Transition Window

Europe’s Markets in Crypto-Assets Regulation (MiCA) reached a key milestone this week as the 18-month transitional period ended on Wednesday, triggering a last wave of authorisations for crypto asset service providers across the EU and European Economic Area. Regulators in multiple jurisdictions used the final window to approve new MiCA licenses and CASP registrations. Italy reported four additional authorisations, bringing the country’s total to eight. France added three new firms to its MiCA whitelist, lifting its licensed CASP count to 31, while Malta saw additional progress as firms expanded regulated offerings. Key takeaways MiCA’s transitional period ended Wednesday, pushing remaining unauthorised crypto providers toward a wind-down of EU activities. Italy approved four new crypto asset service providers, increasing its total CASPs to eight. France added three firms to its authorised list, bringing total licensed CASPs to 31, according to the AMF. ESMA’s interim register ...
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Crypto Enters Q3 With Lower Liquidity and Leverage After Q2 Reset: Talos

Cryptocurrency markets headed into the third quarter of 2026 with a notable reset in leverage, but also with noticeably thinner liquidity. A wave of liquidations in Q2 cleared out a large portion of leveraged positioning, even as key demand drivers weakened into the same period, according to Talos data cited in a market update. That combination—less leverage clearing the system but less depth to cushion future selling—sets up a market that may be less prone to immediate forced cascades, while still capable of sharp price swings when large orders hit thin order books. Key takeaways Q2 liquidation totals were substantial: Talos reports $8.35 billion in combined Bitcoin and Ether long liquidations. Derivatives leverage fell: Bitcoin open interest dropped to $33.5 billion (down 32% from its Q2 peak) and Ether open interest fell to $16.2 billion (down 40%). Liquidity thinned: Bitcoin order-book depth slipped to roughly $35–$40 million by late June from around $70 million in early M...
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