Crypto payments barely register among euro area merchants, ECB finds
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Gate Founder Dr. Han: Gate's early completion of MiCA licensing will push the European crypto market towards fair competition.
According to ChainCatcher, CoinDesk reports that with the full implementation of the EU's Crypto Asset Market Regulation (MiCA), the European digital asset market has entered a new era of unified regulation. Regarding the impact of MiCA on the industry landscape, Gate founder and CEO Dr. Han stated in an interview that Gate began its European compliance preparations several years ago and completed its MiCA and Payment Institution (PI) license preparations ahead of schedule in 2025. He pointed out that the significance of MiCA lies not only in establishing a unified regulatory framework, but more importantly, in putting all market participants on a level playing field. "Only when all platforms adhere to the same rules can the industry truly compete around products, services, and user experience." He also stated that if unauthorized platforms continue to provide services to European users, a level playing field will remain a challenge, making effective regulatory enforcement equally crucial. Currently, Gate Europe is leveraging its MiCA and PI licenses to continuously improve its compliance system, risk management, and operational governance capabilities, and is continuously deepening its global compliance strategy. In addition to Europe, multiple Gate entities have completed relevant regulatory registrations, license applications, or obtained authorizations and approvals in jurisdictions such as Malta, the Bahamas, Japan, the United States, Australia, and Dubai. Through multi-regional regulatory approvals, Gate has solidified its global business foundation and continues to provide global users with safer, more transparent, and more efficient digital asset services. Looking ahead, Gate will continue to adhere to a parallel development strategy of compliance and innovation, promoting the long-term healthy development of the digital asset industry through superior product experiences and global service capabilities.
Swyftx has obtained an Australian financial services license and is seeking opportunities in the cryptocurrency payments sector.
According to Foresight News , citing Cointelegraph, Australian cryptocurrency exchange Swyftx has obtained an Australian financial services license, indicating its intention to explore opportunities in the cryptocurrency payments sector. The license allows Swyftx to offer derivatives such as cryptocurrency options or futures to retail customers and authorizes it to provide non-cash payment services, enabling the fintech company to offer payment services to both business and retail clients. Swyftx interim co-CEO Andrea Yuen stated that after obtaining a license to provide payment services, the company "will no longer be a pure cryptocurrency spot exchange." Swyftx does not currently hold an AFSL license for spot cryptocurrency trading.
Both Revolut Crypto and Revolut X have obtained MiCA compliance licenses.
According to Foresight News , Revolut tweeted that both Revolut Crypto and Revolut X have obtained MiCA compliance licenses in Europe. Their European Economic Area (EEA) cryptocurrency services are provided by Revolut Digital Assets Europe Ltd (RDAEL), a privately held company registered in Cyprus, which has obtained a crypto asset servicer license (license number: 001/2025) issued by CySEC under MiCA.
Illinois' crypto tax will take effect in January next year; brokers will need to register in advance.
According to Foresight News , citing PYMNTS, Illinois' new crypto tax will take effect on January 1, 2027. Law firm Jones Day advises brokers with operations in the state to register in advance and review their record-keeping processes. The new tax rate is 0.2%, levied on the value of digital assets traded, transferred, or stored by clients in the state, and collected by brokers with a physical presence in the state or total revenue in Illinois exceeding $100,000. Even if they do not meet this threshold, brokers must complete registration by January 1, 2027. Jones Day stated that the bill may face constitutional challenges. The bill was signed into law by Illinois Governor JB Pritzker in June. The Crypto Council for Innovation called it "the most punitive digital asset tax law in the country," and CFTC Chairman Michael S. Selig also stated that this move will put pressure on Chicago's status as a financial center.
Sources say Kraken is seeking a full European banking license in Lithuania.
PANews reported on July 8th that, according to CoinDesk, sources familiar with the matter revealed that cryptocurrency exchange Kraken is seeking a full banking license in Europe, with Lithuania as the jurisdiction for obtaining the license. If approved, Kraken would become the only crypto exchage holding such a license, following the same regulatory path as fintech giant Revolut (which received a specialized banking license from the Bank of Lithuania in 2018), enabling it to offer services such as current accounts, consumer loans, and stock trading in the European Economic Area. This move is part of Kraken's parent company Payward's global licensing strategy.
One week after the full implementation of the EU's MiCA (Military Qualification and Control) system, 21 stablecoin issuers and over 270 crypto service providers have obtained regulatory qualifications.
According to Odaily Odaily, Patrick Hansen, Senior Director of EU Strategy and Policy at Circle, cited MiCA provisional registration data from the European Securities and Markets Authority (ESMA) to release statistics on compliant institutions one week after the full implementation of the regulations. Currently, there are 21 authorized electronic money token (EMT) issuers in the EU, distributed across 12 member states, issuing a total of 35 EMTs pegged to 8 fiat currencies. France continues to lead other member states with 6 licensed issuers. Meanwhile, the number of approved asset reference token (ART) issuers remains at 0, while the total number of registered crypto asset service providers (CASPs) under the MiCA framework has exceeded 270.