2026 Crypto trading and market thread

[pmbug]

^^ Turd was mistaken. Section (2)(B) specifies considering the gold revaluation.

 

[searcher]

Euronews

New EU crypto rules could force hundreds of firms to exit the market

The EU's landmark MiCA crypto rules take full effect on 1 July. Yet by May, fewer than one in five of the bloc's 1,200-plus registered crypto firms had secured the licence needed to keep serving European clients.

www.euronews.com

 

[Goldhedge]

 

[pmbug]

Cryptocurrency exchange BitMart said Sunday it will wind down its trading platform, ending nine years of operation and sending its exchange token down almost 60% after the announcement.

It is the second crypto exchange to announce a closure in the same week, with perpetuals trading powerhouse BitMEX saying Thursday it would shut down after 11 years, as CoinDesk reported.

The exchange stopped accepting new registrations, deposits and new trading orders from 01:30 UTC on Sunday, it said, with futures accounts moving to reduce-only mode.

All trading, spot and derivatives, ends on Aug. 26, and the platform formally ceases operations on Jan. 31, 2027. Withdrawals stay open throughout, though BitMart urged users to complete identity checks, close positions and submit withdrawal requests before the August cutoff.
...

BitMart to shut down after nine years, exchange token crashes 58%

Users have a month to close trades and six months to withdraw, and the exchange gave no specific reason for closing.

www.coindesk.com

Is this smoke? Is there a fire?

 

[searcher]

Is this smoke? Is there a fire?

FWIW: (may or may not be related to closing )

https://www.cftc.gov/PressRoom/PressReleases/8412-21?_sp=0e601069-51b6-4525-8805-a774670d39ff.1785243283959

https://www.fincen.gov/news/news-releases/fincen-announces-100-million-enforcement-action-against-unregistered-futures?_sp=0e601069-51b6-4525-8805-a774670d39ff.1785243369686

https://www.justice.gov/usao-sdny/pr/global-cryptocurrency-exchange-bitmex-fined-100-million-violating-bank-secrecy-act?_sp=0e601069-51b6-4525-8805-a774670d39ff.1785243406993

 

[pmbug]

I had read (by forgot to cross-post here, speculation that the closings are likely related to regulation changes in the EU. These exchanges cannot comply with new EU regs and are having to either change jurisdiction or shut down accounts for European customers (which might be most of their existing business).