Today in crypto, the European Union’s Markets in Crypto-Assets Regulation (MiCA) deadline looms over crypto exchanges serving the bloc.
Also, the US Congress reached a deal to advance a housing bill that includes a central bank digital currency (CBDC) ban, while industry observers are focused on crypto PAC spending in Alabama.
BitGo courts crypto firms awaiting MiCA approval
BitGo, a crypto custody company, is moving into Europe’s tighter regulatory landscape as exchanges race to maintain access ahead of a key licensing deadline.
BitGo Europe launched a crypto-as-a-service platform aimed at meeting the EU’s MiCA, the company said in a statement shared with Cointelegraph on Wednesday.
BitGo CEO Mike Belshe said companies shouldn’t leave users waiting during licensing delays, arguing that regulated infrastructure can keep platforms active in the meantime.
“We can help keep you moving safely and compliantly,” he said.
Source: Mike Belshe
The launch comes with the EU’s July 1 MiCA deadline approaching, requiring crypto companies to obtain authorization to continue serving customers across the bloc. Reports on Tuesday suggested Greek regulators may reject Binance’s MiCA license application, adding uncertainty to the EU regulatory status of the world’s largest crypto exchange by trading volume.
Congress reaches deal on housing bill with CBDC ban
US House and Senate leaders reached a deal to move forward with a bill aimed at addressing housing affordability, which will include a ban on the Federal Reserve creating a CBDC until 2030.
A bipartisan group of House and Senate leaders released an updated version of the 21st Century Road to Housing Act on Tuesday after negotiations over disagreements on some aspects of the bill. The latest version kept in a CBDC ban that has been included since the Senate passed it in March. The House also passed its version of the bill with strong support in May.
Source: US Senate Banking Committee GOP
House Republican leaders reportedly plan to put the bill up for a vote after the House returns from recess on June 23 and is likely to hand a win to Republicans who have tried to pass a CBDC ban for years, as earlier standalone bills had stalled in Congress.
The bill says the Federal Reserve may not, directly or indirectly, “issue or create a central bank digital currency or any digital asset that is substantially similar to a central bank digital currency,” a clause that will expire on Dec. 31, 2030.
US President Donald Trump signed an executive order in January 2025 banning federal agencies from all work related to CBDCs, saying they threatened “the stability of the financial system, individual privacy, and the sovereignty of the United States.”
Crypto PAC has $12M stake in Senate primary runoff as Alabama voters head to polls
Defend American Jobs, the cryptocurrency company-backed political action committee (PAC) affiliated with Fairshake, reported spending millions of dollars to support a Republican candidate’s run for a US Senate seat in the party’s Tuesday primary runoff in Alabama.
As of Tuesday, filings with the Federal Election Commission (FEC) showed that Defend American Jobs had spent more than $4.7 million on media and ads to back Republican Barry Moore’s candidacy in a runoff for one of Alabama’s US Senate seats, adding to the $7.4 million it reported spending ahead of his May 20 primary. Moore, who also has the endorsement of US President Donald Trump, is running against Jared Hudson, another Republican vying to replace Tommy Tuberville, who announced that he would not be seeking reelection, as he is focused on becoming the state’s next governor.
The Alabama runoff will be another test of the crypto industry’s influence in US elections, with Fairshake and its affiliates having already poured millions of dollars into media for candidates facing primaries in Texas and California. Following Tuesday’s vote in Alabama, the PACs will also have stakes in Maryland and New York later this month, backing Democrats Adrian Boafo and Ritchie Torres with about $5 million and $500,000 in media buys for House seats, respectively.
Source: Federal Election Commission