UK Crypto, Stablecoin Laws Approved by Parliament’s Upper House

The Financial Services and Markets Bill stands to recognize crypto as a regulated activity and stablecoins as a means of payment.Source

EU Legislation for Digital Euro Is Put on Hold: Source

A bill covering privacy and distribution of the central bank digital currency, originally scheduled for June 28, will be delayedSource

Crypto Investment Products Witness 9th Straight Week of Outflows: CoinShares

Altcoins witnessed inflows totalling $2.4 million, according to the report.Source

Investment Firm Republic Buys Stake in Crypto Broker-Dealer INX at $50M Valuation

Republic will acquire around a 9.5% stake in INX following the initial investment, with a commitment to acquire of 100% of equity at a valuation of $120 million as early as Q3 this year..Source

Do Kwon Sentenced to 4 Months Jail in Montenegro Document Forgery Case

The court has also ordered the confiscation of two Costa Rican passports, two Belgian passports and two identity cards belonging to Kwon and fellow Terra executive Han Chang-Joon.Source

UK Financial Watchdog Cancels Binance Permissions on Firm’s Request

U.K.’s Financial Conduct Authority said Binance’s local unit is no longer authorized to provide any regulated services in the country.Source

BNB Chain Releases Layer 2 Testnet Based on Optimism’s OP Stack

Developers expect the opBNB blockchain to reach speeds of 4,000 transactions per second at a targeted cost of 0.005 U.S. cents per transaction.Source

IMF Official Presents Blueprint for Cross-Border CBDCs

The international organization wants to help cut the cost of cross-border transactions, without abandoning compliance checks or capital controls.Source

First Mover Americas: Bitcoin Trades Flat, Altcoins Nurse Losses

The latest price moves in bitcoin (BTC) and crypto markets in context for June 19, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.Source

Binance, SEC Strike Deal to Move All U.S. Customer Funds, Wallet Keys Back Onshore

Binance, Binance.US and the Securities and Exchange Commission (SEC) announced a deal to ensure that only Binance.US employees could access customer funds late Friday.Source