Jpmorgan Ended Banking Relationship With Polymarket Over Regulatory CONCERNS: Wsj
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JPMorgan cuts Polymarket banking ties over regulatory concerns: Report
JPMorgan Chase reportedly cut banking ties with Polymarket in October 2025 over regulatory concerns but remains open to an underwriting role if the platform goes public.
JPMorgan Chase warns that yield-based stablecoins may evolve into "shadow banking" and calls for stronger regulation.
PANews reported on June 30th, citing The Block, that Umar Farooq, co-head of global payments at JPMorgan Chase, and Peter Muriungi, CEO of Digital Assets and Blockchain Solutions, co-authored an article calling for a comprehensive regulatory framework for digital assets in the United States, without directly mentioning the Clarity Act. The two pointed out that tokenization and programmable money present innovative opportunities for global payments and 24/7 settlement, but warned that allowing stablecoins to pay yields could lead to the "shadow banking" sector. The banking industry generally believes that yield-paying stablecoins could squeeze bank deposits and threaten credit.
The EU has extended its comprehensive economic sanctions against Russia until mid-2027, covering sectors such as trade, banking, energy, and cryptocurrencies.
According to Foresight News , citing the European Council's official website, the EU will extend its economic restrictions on Russia for another 12 months, until July 31, 2027, maintaining a comprehensive economic sanctions system against Russia. This decision continues the EU's sanctions against Russia, which began in 2014 and were significantly expanded after Russia's full-scale invasion of Ukraine in 2022. The existing sanctions cover trade, finance, energy, and dual-use technologies, including a ban on the import or transshipment of Russian seaborne crude oil and certain petroleum products; a transaction ban on several Russian and third-country financial institutions and crypto service providers; and the suspension of broadcasting activities and licenses of several Kremlin-backed disinformation media outlets within the EU. The European Council stated that as long as Russia continues its acts of aggression and violates fundamental principles of international law, the EU will maintain existing sanctions and is prepared to impose new measures at any time. This extension is a continuation of the 20th round of sanctions imposed by the EU since 2022. EU leaders had previously agreed to extend the sanctions for another 12 months at the European Council meeting on June 18-19 and called for the swift passage of a 21st round of sanctions to further reduce Russia's energy revenues, crack down on its "shadow fleet," and restrict its banking system.
JPMorgan Chase: Potential obstacles to a Tesla-SpaceX merger have been underestimated.
According to Mars Finance, on July 8th, JPMorgan analyst Rajat Gupta stated that while a Tesla-SpaceX merger "looks plausible on paper," current speculation surrounding the merger underestimates the potential obstacles hindering the deal. These potential obstacles include regulatory approvals across multiple jurisdictions; governance and voting rights symmetry; and the perception that "the merger will be a SpaceX-led acquisition, rather than a merger of equals." He added, "Overall, we will be watching SpaceX's acquisition currency, the regulatory landscape, and Musk's voting rights in Tesla as catalysts for a potential merger." JPMorgan stated that if the deal occurs, the most likely structure would be a SpaceX-led, all-stock acquisition of Tesla.
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.
Polymarket traders estimate a 23% probability that the US will block public access to major Chinese AI models by the end of 2026.
According to Odaily Odaily, Polymarket traders estimate there is a 23% probability that the U.S. government will block public access to major Chinese AI models by December 31, 2026, through legislation, executive orders, export controls, or other formal actions. Several departments within the U.S. Department of Commerce have already banned employees from using Deepseek on work devices due to data security concerns, and Virginia, Texas, and New York have also imposed bans on Deepseek devices for their state employees. (Bitcoin.com News)