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Major County Sheriffs drop formal opposition to DeFi carve‑out in CLARITY Act, shift to neutral stance The Major County Sheriffs of America (MCSA) has withdrawn its formal opposition to the decentralized finance (DeFi) provision in the CLARITY Act, stepping back from one of the bill’s most prominent law‑enforcement objections as Senate debate approaches. In a letter to Senate Banking Committee Chair Tim Scott and Ranking Member Elizabeth Warren, the MCSA said it moved from opposing the Blockchain Regulatory Certainty Act (Section 604 of the CLARITY Act) to a neutral position after “continued review” and recent discussions — including talks with the Trump administration — that clarified how officials expect the DeFi language to be interpreted and implemented if enacted. What the provision does - The Blockchain Regulatory Certainty Act would shield software developers and infrastructure providers from criminal liability for crimes committed by users on decentralized platforms, so long as those providers do not control customer funds. - Law‑enforcement groups had warned the language could hamper investigations into illicit crypto activity. MCSA’s caveats and asks Although the sheriffs ended their formal opposition, they did not endorse the provision outright. The MCSA asked Congress to: - Give state and local law‑enforcement a formal role in the Treasury study required under Section 309 of the CLARITY Act and any advisory groups established under the law. - Ensure that a new federal regulatory framework is paired with funding and operational resources for the state and local agencies that investigate the bulk of crypto‑related crime. Other law‑enforcement endorsements and the legislative clock - The National Organization of Black Law Enforcement Executives (NOBLE) has also voiced support for the CLARITY Act, saying it would bolster investigative capabilities while preserving criminal enforcement powers. - The Senate’s timeline shifted this week: Senator Bill Hagerty indicated the Senate would release the final text of the CLARITY Act this weekend, with floor debate likely resuming after lawmakers return from the July recess (now expected after July 13), replacing earlier expectations of a July 4 signing. Market odds and outstanding issues - Bloomberg Intelligence raised the estimated chance the CLARITY Act passes in July to roughly 60%. - Prediction markets are more optimistic too: Polymarket shows odds of President Trump signing the bill before year‑end back above 50% after a recent dip. - Not all hurdles are cleared — Senator Kirsten Gillibrand continues to push for an ethics provision that would bar members of Congress and their spouses from issuing or promoting crypto assets, keeping that debate alive as the Senate readies the bill. Why this matters The MCSA’s move reduces a notable law‑enforcement roadblock to the CLARITY Act and helps clarify how DeFi actors might be treated under U.S. law. However, the sheriffs’ requests for local involvement and funding underscore continuing tensions between shielding developers and enabling effective investigations. With the Senate preparing the bill text and floor action approaching, the balance between industry certainty, law‑enforcement needs, and congressional ethics remains central to the outcome. Read more AI-generated news on: undefined/news

Headline: Nigel Farage probed over alleged lobbying of Bank of England tied to major Tether investor Nigel Farage is under scrutiny after a Labour MP asked the UK Parliament’s standards watchdog to investigate whether the Reform UK leader lobbied the Bank of England on crypto policy in a way that could have benefited one of his biggest backers — a major investor in stablecoin issuer Tether. What’s alleged - Labour MP Phil Brickell has asked Parliamentary Commissioner for Standards Daniel Greenberg to examine whether Farage breached parliamentary rules by meeting Bank officials after receiving sizable financial support from British billionaire Christopher Harborne. - Parliamentary rules bar MPs from lobbying ministers or public officials on behalf of people who have paid them within the previous 12 months. - Brickell says Farage publicly backed Tether, criticized planned limits on stablecoins, and promised to challenge the Bank of England’s stance before a private meeting with Governor Andrew Bailey — later claiming he had persuaded the Bank to soften its approach. The meeting and policy moves - The complaint centers on a private September 2025 meeting between Farage and Bailey, during which Farage reportedly urged the Bank to abandon plans for a UK central bank digital currency (“Britcoin”). Farage has previously vowed he would rather go to prison than support a digital pound. - Within weeks, the Bank of England dropped a proposed £20,000 cap on individual stablecoin holdings — a limit Farage had publicly attacked. Farage has since asserted he influenced the decision. - The Bank of England says the September meeting was part of routine engagement with politicians, that the governor and Farage held different views on a digital pound, and it has not published minutes or further details. Money, donors and potential conflicts - The probe has a financial backdrop: Christopher Harborne, a British businessman based in Thailand who owns a reported 12% stake in Tether (issuer of USDT) and sits high on the Sunday Times Rich List, has been a major donor to Farage and Reform UK. - The Guardian reported Farage accepted an undeclared £5 million gift from Harborne before the July 2024 general election — a payment later questioned by Greenberg in a separate inquiry about whether it should have been declared. Because Farage had not yet declared candidacy at that time, the payment was not registered with parliamentary authorities. - Harborne also reportedly made two smaller £25,000 donations to Farage in January 2025 and February 2026 to fund trips to the US and the Chagos Islands, and gave Reform UK a further £15 million during the same period. - Brickell has argued the issue goes beyond crypto policy: should an MP who has received millions from one donor push policies that could raise the value of that donor’s investments? Political reactions and defenses - Farage and Harborne say the billionaire expected nothing in return; Farage has called the £5 million unconditional and a private matter, though explanations for the payment have shifted over time. - Reform UK rejected the lobbying allegations as “utter rubbish.” Labour says Farage is avoiding proper scrutiny. - Separately, Labour MP Joe Powell has written to Andrew Bailey seeking details of the September meeting, arguing that decisions shaping the UK’s financial system — including a digital pound — should be made transparently and in the public interest, not via private discussions that could advantage individual investors. Why crypto watchers should care - The inquiry touches on key tensions in UK crypto policy: the balance between private stakeholder engagement and transparent policymaking, the influence of wealthy donors with crypto exposure, and the future of a digital pound versus private stablecoin frameworks. - Farage has been a vocal supporter of digital assets, proposing a UK strategic Bitcoin reserve and urging tax relief for crypto investors — positions that make the allegations particularly salient to the crypto community. What happens next - Daniel Greenberg’s probe will determine whether parliamentary rules were breached. The outcome could have reputational and political ramifications for Farage and raise wider questions about donor influence over UK crypto regulation. Read more AI-generated news on: undefined/news

Revolut will remove Tether’s USDT from eligible European accounts as new EU crypto rules kick in under the Markets in Crypto-Assets (MiCA) regime. What’s happening and when - Revolut has notified affected users by email and in-app messages that it will phase out USDT over the coming months. - Customers can buy USDT only until July 6. - New USDT deposits will be blocked starting July 30. - Users may sell, withdraw, or transfer USDT to supported external wallets until Aug. 31, 12:00 PM GMT. - Any remaining USDT after that deadline will be automatically converted into the account’s base currency at the market price, per Revolut’s crypto delisting policy. Why Revolut is acting Revolut tied the decision to the EU’s MiCA framework, which came into force and began being enforced on July 1. MiCA requires stablecoin issuers and crypto-service providers operating in the bloc to meet licensing, reserve, disclosure, and supervisory standards. USDT has not received MiCA authorization, and several platforms — including Revolut — are restricting European access to the stablecoin rather than offer services that would not comply with the new rules. Tether’s response and the regulatory debate Tether has argued MiCA’s reserve and redemption requirements are not well suited to the world’s largest stablecoin. Paolo Ardoino, Tether’s CEO, has voiced concerns about MiCA’s rules on reserve composition, liquidity management, and redemption mechanics. Those disagreements have left USDT without MiCA clearance and exposed to delistings by EU-facing providers. Broader context: enforcement and freezes Separately, Tether recently froze USDT balances in 131 TRON wallets after the U.S. Treasury’s Office of Foreign Assets Control (OFAC) expanded sanctions related to ISIS-K on July 1. OFAC’s update added 134 crypto wallet identifiers — 131 on TRON and three Monero addresses — linked to the Islamic State Khorasan Province. While that sanctions action is distinct from MiCA, it highlights that Tether can—and does—freeze tokens in response to law enforcement and regulatory directives. What this means for users and the market Revolut’s delisting underscores how MiCA is already reshaping stablecoin availability in Europe: tokens that lack authorization face restricted access or removal. Affected users should move or convert USDT before Aug. 31 to avoid automatic conversion. The move also signals continued fragmentation between global stablecoin issuers, regional regulators, and service providers as the post-MiCA landscape takes shape. Read more AI-generated news on: undefined/news

DZ Bank is wiring crypto access into Germany’s retail banking network, bringing digital-asset trading to millions of customers through the country’s cooperative banks. What’s happening - DZ Bank has launched a crypto trading platform that participating Volksbanken and Raiffeisenbanken can embed in their existing retail banking apps and portals. The service lets customers buy and sell cryptocurrencies without leaving their primary bank. - The platform initially supports Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Cardano (ADA). - Participation is voluntary for each cooperative bank, but DZ Bank says interest has been strong: Bloomberg reports that “hundreds” of member institutions are expected to adopt the service over time, potentially opening crypto access to a large portion of Germany’s cooperative-banking customer base. Broader rollout and competition - DekaBank is building a similar solution for Germany’s savings banks, with a staged launch planned later this year as individual savings banks opt in. - The moves mark a shift in Germany’s banking sector, which long avoided retail crypto services over concerns about volatility and investor protection. Now, many banks see offering crypto alongside everyday banking as a way to retain and attract younger customers who expect investment options inside their banking apps. Why customers might prefer bank-led crypto - Supporters of the banking-led approach argue it lowers friction and increases trust: a Bloomberg-cited survey found German consumers trust their primary bank more than twice as much as dedicated crypto trading platforms. - Banks also hope bundled services (banking plus crypto) will make it easier for mainstream customers to experiment with digital assets under familiar interfaces. Regulatory and risk backdrop - Critics and academics continue to warn that cryptocurrencies are highly speculative and can cause significant losses. Industry groups and Germany’s savings banks association emphasize that bank-offered crypto trading is aimed only at self-directed customers who understand the risks; these services are being provided without investment advisory. - The banking rollout coincides with possible tax changes. Finance Minister Lars Klingbeil said during the April 29 presentation of Germany’s 2027 budget that the government plans to “tax cryptocurrencies differently” as part of measures projected to raise roughly €2 billion (~$2.3 billion) and to bolster efforts against financial and tax crime. - Under current German rules, crypto profits are typically taxed if assets are sold within one year of purchase; assets held longer than 12 months are generally exempt from capital gains tax — a policy that has made Germany relatively attractive for long-term crypto investors. Why it matters The move brings crypto trading into mainstream retail banking in Germany, potentially speeding retail adoption by lowering entry barriers and leveraging existing trust relationships. At the same time, it raises questions about consumer protection, suitability screening, and how forthcoming tax changes will affect investor behavior. As cooperative banks and savings banks roll out their offerings, watch for adoption rates, any safeguards banks put in place, and how regulators respond. Read more AI-generated news on: undefined/news

India launches probe after reports of Indians trafficked into Myanmar to run crypto scams Indian authorities have opened an investigation after reports that nationals were allegedly trafficked into Myanmar and forced to operate online investment and cryptocurrency scams from scam compounds along the Thailand–Myanmar border. Maharashtra police said they registered a criminal case after the wife of a 24-year-old man reported her husband had travelled to Bangkok for a graphic-design and data-entry job paying Rs 70,000 a month (about $815) in early June, but was instead moved to a cyber scam compound near the Thailand–Myanmar border. Investigators say his passport and travel documents were confiscated, he was forced to work 16–18 hours a day on fraud operations, and that those refusing orders faced electric shocks and other abuse. The victim allegedly managed to contact his family briefly before communications were cut off; police said he claimed hundreds of Indians were being held in similar compounds, a claim not independently verified. Regional outlets also reported a separate Maharashtra case in which a resident who accepted a call-centre job in Thailand—offering similar pay—was allegedly taken into Myanmar and forced to run online investment and cryptocurrency scams. Victims told investigators they were made to create fake social‑media profiles and solicit fraudulent investments. One family said captors demanded Rs 8 lakh (about $9,300) to arrange a release. The Ministry of External Affairs has been informed and central agencies are assisting state police in repatriation efforts. Context — organized networks, cross-border enforcement and crypto losses Reports point to an organised pattern: criminal groups recruit people through fake overseas job adverts for IT, customer support, digital marketing and data-entry roles; confine them in compounds across Myanmar, Cambodia, Laos and neighbouring states; confiscate travel documents; and coerce them into running online fraud and crypto-related schemes. The allegations come amid growing international enforcement. In May, the U.S. Treasury’s Office of Foreign Assets Control sanctioned a Myanmar militia, its leader and senior members for facilitating cyber scam syndicates, cryptocurrency-related fraud, human trafficking and cross-border smuggling. The Treasury noted U.S. victims lost more than $2 billion to crypto-related fraud in 2022 and more than $3.5 billion in 2023. Separately, the FBI’s latest Internet Crime Report put total losses tied to cryptocurrency schemes at more than half of an $11.4 billion tab for internet crime. Myanmar has also moved to legislate against such operations: a draft Anti‑Online Scam Bill published in May would prescribe prison terms from 10 years to life for operators of scam centres or digital currency fraud, and allows capital punishment for operators who use violence, torture, unlawful detention or cruel treatment to coerce victims. India has previously mounted rescue operations: earlier this year authorities repatriated more than 120 Indians from scam centres in Myanmar, with additional rescues carried out the prior year. Why this matters for crypto stakeholders These incidents underscore a persistent link between human trafficking, organised crime and crypto-enabled fraud. Operators in regional compounds often exploit cryptocurrencies as payment rails for scammed funds—complicating recovery and enforcement. The new Indian probe and rising cross‑border sanctions signal increased pressure on networks that rely on forced labour to run large-scale crypto investment and romance frauds. Authorities say efforts to bring the latest alleged victims home are underway; investigations are continuing. Read more AI-generated news on: undefined/news

Headline: Trump’s “Official Trump” memecoin paid him $636M while buyers lost $3.8B, blockchain data shows President Donald Trump’s Official Trump (TRUMP) memecoin generated a windfall for him even as nearly a million retail buyers suffered massive losses, according to newly analyzed blockchain data and his 2025 financial disclosure. Key figures - $636 million: payout to Trump tied to the TRUMP memecoin, disclosed in his 2025 financial filing. - $1.4 billion: at least this much in crypto-related income reported during the period, largely from licensing tied to the memecoin and token sales by Trump-backed World Liberty Financial (WLFI), per the disclosure. - 988,905 wallets: number of buyers Nansen identified as holding cumulative losses of $3.81 billion through the end of June (this includes both realized and unrealized losses). - $75.35 → ~$1.76: TRUMP’s all-time high price vs its trading price in late June — a roughly 97% decline. - Fewer than 500,000 wallets: the smaller cohort that captured roughly $4 billion in combined profits, with gains concentrated among early entrants and automated/experienced traders. - WLFI: Nansen tracked 26,663 WLFI wallets; about 85% were underwater, with combined losses near $83 million versus about $23 million in gains. What the data shows Blockchain analytics firm Nansen, cited by The New York Times, found that roughly two out of every three wallets that bought TRUMP were in the red by the end of June. The losses figure combines paper losses (tokens still held) and realized losses (tokens sold at a loss). Nansen’s analysis also suggests profits were heavily concentrated: a small group of early buyers and automated traders bought before price spikes and sold into retail demand, capturing the bulk of gains while later buyers absorbed the downside. How Trump profited Trump’s financial disclosure and reporting show he benefited even when the token’s market price fell. Much of his crypto income came from licensing deals connected to the memecoin and token sales tied to World Liberty Financial — revenue streams that generate money from transaction activity and licensing irrespective of short-term token price moves. The filing lists the $636 million payout specifically tied to TRUMP, and at least $1.4 billion in crypto-related income overall during the reporting window. Timeline and investor experience - Launch: Trump introduced the TRUMP memecoin on social media three days before his January inauguration, promoting it as a way for supporters to join his community. - After launch: Price spiked to an all-time high of $75.35, then collapsed; by late June the token traded near $1.76. - Retail pain: Nansen reports that most later buyers lost money, while early participants and professional traders realized large gains. One investor interviewed by The New York Times, Nicholas Pinto, said he put roughly $500,000 into TRUMP and had lost about half of it, calling the project “almost a legal scam.” Responses - White House spokeswoman Anna Kelly told The New York Times that Trump had made the United States the “crypto capital of the world” and framed his actions as in the public interest. - In a CNBC interview, Trump said he was unaware the ventures had generated at least $1.4 billion but added he could determine the exact amount if he wished, insisting there was nothing improper and that he has no plans to distance himself or his family from their crypto businesses. WLFI and tracing limits Nansen’s WLFI assessment found the majority of tracked WLFI wallets underwater, but it warned the true scale of losses may be higher because many secondary-market transactions on exchanges are not publicly traceable. Political fallout The disclosure has intensified debate in Washington. Sen. Kirsten Gillibrand renewed calls for ethics rules that would bar government officials and their spouses from creating or promoting crypto memecoins. Lawmakers are also negotiating the CLARITY Act, with discussions touching on stablecoin yields, anti-money-laundering safeguards and ethics provisions as Congress weighs how to regulate crypto more tightly. Bottom line Blockchain analytics and Trump’s own disclosure paint a stark picture: the TRUMP memecoin delivered substantial direct and licensing revenue to Trump while most retail participants — particularly those who bought after the early run-up — suffered heavy losses. The revelations have already fueled calls for new ethics rules and tighter crypto oversight in Congress. Read more AI-generated news on: undefined/news

Europe’s markets watchdog has put prediction-market operators on notice: your event contracts might already be regulated — and that could trigger a long-standing EU retail ban on binary options. On July 3, the European Securities and Markets Authority (ESMA) clarified that event-based contracts sold in the EU need to be reviewed under the Markets in Financial Instruments Directive II (MiFID II). If those contracts meet MiFID II’s definition of a financial instrument, ESMA says the EU’s 2018 retail restrictions on binary options would automatically apply. The statement doesn’t create new law; it simply interprets how existing rules may cover some prediction-market products now being promoted to European users. ESMA’s message is blunt: calling a product a “prediction market” or “event contract” isn’t enough to avoid financial regulation. Firms and national supervisors across the bloc must assess whether these contracts qualify as financial instruments — and if they do, binary options limits kick in without further rulemaking. Why this matters for crypto-focused platforms - Offshore operators such as Polymarket have drawn particular regulatory attention. Other notable players like Kalshi and Crypto.com are regulated by the U.S. Commodity Futures Trading Commission (CFTC) for their U.S. activities, but none of the major prediction-market platforms currently run a licensed business inside the EU. - ESMA’s clarification arrives amid rising enforcement and consumer-protection actions targeting prediction markets in Europe and beyond. Recent enforcement and warnings - Spain’s Ministry of Consumer Affairs temporarily blocked Kalshi and Polymarket on May 26, concluding the platforms lacked required gambling licenses under Spanish law. - On June 19, gambling regulators from nine European countries — including Belgium, France, Germany and Spain — issued a joint warning about unlicensed gambling websites operating across Europe, flagging consumer-protection concerns around major events such as the FIFA World Cup. - Outside Europe, the Kentucky government filed a lawsuit last month against Polymarket and Kalshi, alleging the platforms facilitate illegal sports betting in the state. - Polymarket has also faced accusations of deceptive advertising targeting U.S. users, ramping up scrutiny on the platform. What operators need to do ESMA’s guidance places clear responsibilities on any firm planning a European launch: they must determine both whether their products are financial instruments under MiFID II and whether national laws treat them as gambling. Failing to do so risks the kind of enforcement actions already seen in Spain and the coordinated warnings from national gambling authorities. Bottom line: ESMA hasn’t changed the rules, but it has sharpened the spotlight. For prediction-market operators, especially those in the crypto space considering EU expansion, the regulator’s clarification is a clear signal to do thorough legal homework — or face regulatory pushback. Read more AI-generated news on: undefined/news

Headline: Standard Chartered Among 57 Firms to Win MiCA Passport as ESMA Register Jumps to 300 The European crypto landscape just took a major regulatory step forward. The European Securities and Markets Authority (ESMA) has added 57 newly authorized crypto firms to its interim register, bringing the total number of MiCA-authorized crypto-asset service providers (CASPs) to 300 — up from 243 on June 26 — after a wave of approvals clustered around the July 1 Markets in Crypto-Assets (MiCA) deadline. Key winners and what they gained - Standard Chartered: The global bank secured MiCA authorization from Luxembourg’s regulator, the Commission de Surveillance du Secteur Financier (CSSF), on June 25. It also obtained an Electronic Money Institution (EMI) license, enabling it to use MiCA’s passporting mechanism to offer regulated crypto services across all 27 EU member states without needing separate approvals country-by-country. - FalconX: The institutional trading firm received authorization from Malta’s Financial Services Authority (MFSA) just ahead of the July 1 cutoff and was added to ESMA’s register. - Other notable additions: digital asset bank Sygnum Europe, Ronin EM, and CACEIS (the asset servicing arm owned by Crédit Agricole and Santander) were all included in the latest update. M&A and market moves - CACEIS is reportedly in exclusive talks to acquire French retail crypto platform Meria — a business with about 150,000 users and roughly €350 million in assets under management — after Meria secured MiCA CASP authorization in France. - Stripe-owned Bridge previously won both MiCA CASP authorization and an EMI license in Luxembourg, another example of non-bank players leveraging the passporting framework. Why this matters MiCA creates a single regulatory regime for exchanges, custody providers, portfolio managers and crypto-asset issuers across the EU. Under MiCA’s passport rules, authorization from one national regulator (for example, Luxembourg’s CSSF or Malta’s MFSA) grants access to customers across the entire bloc. The July 1, 2026 end of MiCA’s transitional period forced companies to either secure full authorization or halt onboarding and wind down regulated EU operations. ESMA’s updated register serves as the public record of who has completed that process. Market consequences Regulatory consolidation has already had immediate market effects. Notably, Tether’s $186 billion USDT lost a MiCA-compliant route to stay on regulated EU exchanges after the July 1 deadline. As a result, MiCA-authorized venues including Coinbase, Kraken and Crypto.com removed USDT trading for European users, removing the stablecoin from regulated order books in the EU despite its global scale. Takeaway for institutions For institutional investors and asset managers, ESMA’s expanding register now provides a single, verified reference for identifying regulated counterparties under the EU’s unified crypto framework. Passporting cuts red tape by reducing the need for firms to pursue separate national licenses — a structural change that is already reshaping where and how crypto services are offered in Europe. Read more AI-generated news on: undefined/news

Sen. Kirsten Gillibrand is pressing for a hardline ethics ban on lawmakers and their spouses issuing or promoting crypto memecoins after President Donald Trump’s recent financial disclosure revealed roughly $1.4 billion in crypto-related income for 2025 — a development she says underscores the need for conflict-of-interest rules tied to pending crypto legislation. “This is a commonsense requirement that should get broad bipartisan support – public officials and their spouses should not be issuing memecoins,” Gillibrand said in a Friday notice. “We cannot let self-dealing destroy an opportunity to strengthen consumer protections, crack down on illicit finance, and expand economic opportunity for the millions of Americans our financial system has left behind.” Gillibrand, who raised the ethics concern in a Bloomberg interview at Solana Accelerate in Miami, wants stronger ethics rules written into the CLARITY Act before the Senate moves forward. The bill, intended to create clearer rules for digital assets in the United States, is currently being negotiated in the Senate Banking Committee. Gillibrand said she is hopeful the measure can advance in the next two weeks but insisted Democrats want outstanding issues resolved first. Lawmakers’ talks on the CLARITY Act have centered on stablecoin yields, safeguards against illicit finance, and an ethics clause that would bar government officials from creating or promoting cryptocurrencies. The ethics debate intensified after Trump’s disclosure showed substantial crypto-related income tied to the president, prompting Democratic calls for enforceable limits on elected officials and their families profiting from assets they may influence through policy. Trump launched the TRUMP memecoin shortly before his second presidential inauguration; the token became one of the most-watched political crypto launches. According to the disclosure, the project generated about $1.4 billion in crypto-related income and produced hundreds of millions of dollars for entities linked to the Trump family, even as many retail buyers later suffered losses after the memecoin plunged from its peak. Trump has denied any wrongdoing, telling reporters the profits were not illegal, that outside investment groups manage his holdings, and that rising asset prices have helped many investors. Still, critics say the disclosure strengthens the argument for strict ethics language in the CLARITY Act. The push for an ethics ban adds another political wrinkle to efforts to pass comprehensive crypto market-structure legislation — illustrating how high-profile crypto profits and concerns about conflicts of interest could shape the final contours of U.S. digital-asset rules. Read more AI-generated news on: undefined/news

Robinhood emerges as a key conduit for new U.S. Treasury–backed child investment accounts, as transfers are set to begin shortly ahead of the program’s July 4 rollout. The “Trump Accounts” initiative will provide eligible children with federally supported, long-term investment accounts. Under the program, children under 18 whose parents have a valid Social Security number qualify for an account. The federal government will seed each account with $1,000, and families or other approved contributors may add up to $5,000 per child per year using IRS Form 4547. While the Treasury and IRS provide the policy framework and funds, brokerage firms will act as custodians and retail investment platforms will offer account access. Robinhood — already a major retail brokerage and one of the few apps that combines stock trading and cryptocurrency in a single interface — is widely expected to play a central role in making the accounts available to eligible users, though officials have not named an exclusive provider. Robinhood even posted an in-app walkthrough in advance of the July 4 launch, previewing how families will interact with the new accounts. Despite Robinhood’s crypto-friendly infrastructure, the current Trump Accounts design does not include cryptocurrency or blockchain-based investments. That said, the platform’s existing mix of securities and digital-asset services means — if regulators permit it in the future — users could potentially manage government-backed accounts alongside broader portfolios in a single app. President Trump told CNBC’s Joe Kernen he expects business leaders to contribute to the program, suggesting Elon Musk could donate SpaceX shares and noting support from figures including Michael Dell and Micron. Those remarks reflect expectation rather than confirmed commitments: neither Musk nor SpaceX has announced any donations. Following Trump’s comments, SpaceX ticker SPCX recovered from an intraday low near $155 to close roughly 3% higher at about $162 on July 3, according to earlier coverage by crypto.news. The rollout lands amid ongoing regulatory work to clarify how securities and digital assets should be treated. Industry research — including analysis from Messari — highlights retail investment apps as a primary on-ramp for new investors into risk assets. If brokerages integrate Trump Accounts into their existing platforms, the program could make regulated, long-term investing more accessible to younger users through familiar mobile apps. Political and ethical questions also shadow the initiative. Trump’s 2025 financial disclosures reportedly listed at least $1.4 billion in crypto-related income tied to projects including a memecoin and World Liberty Financial, sparking ethics conversations as lawmakers negotiate the CLARITY Act; Trump has denied knowing about those earnings and said they were not illegal. For the crypto sector, the Trump Accounts program is another test case in how regulated custodial products can be woven into mainstream finance. Although digital assets are excluded from the program today, brokerage participation and evolving regulatory guidance could shape future debates about whether—and how—government-backed investment vehicles might one day coexist with regulated crypto offerings. Read more AI-generated news on: undefined/news

Nigel Farage has been reported to Parliament’s standards watchdog amid allegations he lobbied the Bank of England on crypto policy in ways that might benefit his biggest donor — a major investor in stablecoin issuer Tether. What’s happened - Labour MP Phil Brickell, who chairs the parliamentary group on anti-corruption and responsible tax, has asked Parliamentary Commissioner for Standards Daniel Greenberg to investigate Farage’s private dealings with the Bank of England. Brickell says Farage “openly championed Tether, criticised proposed restrictions on stablecoins and vowed to challenge the Bank’s approach,” and “has since claimed credit for persuading the Bank to soften its position.” - The complaint focuses on a September private meeting in which Farage reportedly urged Governor Andrew Bailey to abandon plans for a UK central bank digital currency — the so-called “Britcoin.” Farage has previously vowed he would go to prison to block a digital pound. Shortly after, the Bank dropped a proposed £20,000 cap on individual stablecoin holdings that Farage had publicly attacked. - A second Labour MP, Joe Powell, has written to Bailey seeking details of the meeting, arguing that decisions on the UK’s financial system “must be made in the public interest” and not behind closed doors to benefit individual financiers. Why this matters - Parliamentary rules bar MPs from approaching officials or ministers on behalf of people who have paid them, for 12 months after such a payment. Brickell says the case raises the broader question of whether an MP “who has received millions from one individual” should push policies that could increase the value of that donor’s investments. - The donor in question is Christopher Harborne, a British billionaire based in Thailand who reportedly owns a 12% stake in Tether (issuer of USDT) and ranks sixth on the Sunday Times Rich List. Farage accepted a previously undeclared £5 million personal gift from Harborne before standing in the July 2024 general election. He also received two £25,000 donations from Harborne for trips in January 2025 and February 2026, while Reform UK took around £15 million from the same donor between last August and February. Greenberg is separately probing whether Farage should have declared the £5 million gift. Responses and context - Farage and Harborne both say the billionaire expected nothing in return. Farage has described the £5 million as “unconditional” and “a purely private matter,” while his account of the gift has shifted over time — from security contribution to reward for Brexit campaigning to money he can spend freely. Reform UK has dismissed the allegations as “utter rubbish.” - The Bank of England said the September meeting was routine engagement with political figures, acknowledged differing views between Bailey and Farage on the digital pound, but has not published minutes of the discussion. - Farage has long positioned himself as pro-crypto: he has called for a Bitcoin strategic reserve for the UK and sought lower capital gains taxes on digital assets. Next steps - The Parliamentary Commissioner for Standards will examine the complaint. Separately, MPs have asked the Bank of England for details of the private meeting. The outcome could clarify whether any rules about lobbying on behalf of donors were breached and whether declared or undeclared donations influenced policy discussions. Decrypt has contacted Nigel Farage and Phil Brickell for comment and will update this story if they respond. Read more AI-generated news on: undefined/news

Headline: Young U.S. Citizen Indicted in Israel for Alleged Espionage — Paid in Cryptocurrency After Telegram Job Offer A 21-year-old American studying at an ultra-Orthodox seminary in Jerusalem has been indicted on espionage charges after prosecutors say he was recruited via Telegram and paid in cryptocurrency to carry out surveillance on behalf of Iranian handlers. Who was charged - The suspect has been identified as Eli Lavon. On Friday the Jerusalem State Attorney’s Office charged him with two counts of contact with a foreign agent and 14 counts of communicating information that could benefit an enemy, according to CNN’s report on the indictment. How prosecutors say the operation unfolded - The case allegedly began in November 2025, when Lavon — visiting relatives in the United States — responded to a job posting on Telegram. About a month later, while returning to Israel, someone claiming to represent Iranian intelligence contacted him and began issuing surveillance tasks. - Reported assignments included filming an abandoned building in a religious Jerusalem neighborhood, recording footage inside a grocery store, and leaving a cigarette pack containing a note saying “The job is complete” in a trash can at a Jerusalem mall. - Lavon is accused of communicating with handlers through two Telegram accounts and three phones. Prosecutors say he was paid in cryptocurrency for the material he provided. - After halting contact with the first handler, investigators say Lavon began communicating with a second Iran-linked handler — hiding a flash drive wrapped in cash at a restaurant and sending a photo of his passport. That handler pressed him for names of fellow seminary students, which Lavon allegedly refused to provide. - The indictment claims total payments from both handlers amounted to roughly $1,379. Official response and defense - “This indictment illustrates how foreign intelligence agencies attempt to exploit the digital sphere to identify, recruit, and operate individuals from within Israel,” said Ronit Shentzer Yaakobi of the Jerusalem District Attorney’s Office, urging vigilance and immediate severing of digital contact when approached. - Lavon’s attorney, Raz Bar Tzvi, told CNN that being contacted online by a foreign actor does not automatically make someone a spy, arguing the indictment’s facts don’t support the charges. He declined to say how his client will plead. Wider context - Israeli authorities have indicted roughly 60 people on Iran-related espionage charges since 2023. Officials allege that several locations reportedly surveilled by recruited individuals were later targeted in Iranian missile strikes. Why crypto news readers should care - The indictment highlights how messaging apps and cryptocurrency can be used together to facilitate covert recruitment and payments. While the total alleged payout in this case was modest — about $1,379 — the use of crypto for cross-border transactions and the combination of online recruitment channels raises questions about anonymity, traceability, and how digital tools are leveraged in modern intelligence operations. - The case may prompt renewed attention from exchanges, wallet providers, and regulators on detection and reporting of suspicious transfers tied to illicit recruitment or state-backed espionage campaigns. (Reporting based on the State Attorney’s Office indictment as summarized by CNN.) Read more AI-generated news on: undefined/news

Barstool Sports founder Dave Portnoy says his crypto gambles are costing him big money as Bitcoin tumbles — and he’s not shy about owning the losses. Portnoy told Fox Business host Stuart Varney this week that he’s “down millions” after Bitcoin slid from its October all-time high of $126,080 to about $62,162, a decline of more than 50%. “Yeah, I’ve got regrets,” he said. “I bought the thing at $100,000, so I mean, right now, I don't know what’s going on.” He also tweeted bluntly on June 4: “Bitcoin and crypto are making me sad.” The media personality acknowledged a long, volatile relationship with crypto. He admitted to panic-selling in 2021 — “I fucking paperhanded,” he said — and quipped that his track record has been poor: “There’s nothing I've been wrong about more than Bitcoin. Every time I sell it, it goes nuclear. Every time I buy it, it tanks.” For now, Portnoy says he’s opted to hold: “I’m just holding. I’ll just hold this thing down to $0… I’d rather go down with the ship this time.” Portnoy’s involvement in crypto goes well beyond Bitcoin. Over the years he’s promoted and traded speculative projects, from the controversial SafeMoon (SFM) to declaring himself part of the “Link Marines,” supporters of Chainlink’s LINK token. More recently he dove into Solana meme coins and drew criticism after publicly sharing his wallet and being accused of “pumping and dumping” tokens. One high-profile episode involved a meme coin called JAILSTOOL, marketed with imagery of Portnoy behind bars. He joked about collecting the token “as a memory” of critics, and the coin briefly exploded to a market cap north of $210 million and even earned a Kraken listing. But the rally proved short-lived: as of Friday, JAILSTOOL had collapsed more than 99.5% and traded just above a $1 million market cap. Portnoy’s saga — high-profile buys, loud endorsements, and sharp losses — underscores crypto’s volatility and the risk of celebrity-driven token frenzies. Whether he can recoup losses by holding out remains to be seen, but for now the Barstool founder is publicly squarely in the red and philosophically resigned to the ride. Read more AI-generated news on: undefined/news

Headline: ESMA tells prediction markets to check EU rules — Polymarket and peers face automatic binary-options curbs if contracts count as financial instruments Europe’s securities watchdog has issued a stark reminder to prediction-market operators: your event-based contracts might already fall under existing EU financial law — and if they do, decades-old retail restrictions on binary options kick in automatically. What ESMA said - In a July 3 statement, the European Securities and Markets Authority (ESMA) clarified that firms offering event- or outcome-based contracts in the EU must assess whether those products qualify as financial instruments under MiFID II. - If a contract meets MiFID II’s definition, the EU retail restrictions on binary options introduced in 2018 apply immediately — no new legislation required. - ESMA’s guidance targets both firms selling these products and national regulators overseeing market conduct across the bloc. Why it matters - Operators can’t simply label products as “prediction markets” or “event contracts” to avoid financial regulation. Where the legal test for a financial instrument is met, the 2018 binary-options restrictions — designed to protect retail investors — come into force. - The clarification comes as offshore prediction markets continue to draw scrutiny. Among major providers, Polymarket operates offshore, while Kalshi and Crypto.com run regulated businesses in the U.S. under the Commodity Futures Trading Commission (CFTC). None of the main platforms currently runs a licensed EU prediction-market operation. Recent enforcement and scrutiny - Spain’s Ministry of Consumer Affairs temporarily blocked Kalshi and Polymarket on May 26 after finding they lacked the gambling licenses required under Spanish law. - On June 19, gambling regulators from nine European countries (including Belgium, France, Germany and Spain) warned consumers about unlicensed gambling sites ahead of the FIFA World Cup. - Polymarket has also faced specific allegations of deceptive advertising targeting U.S. users, and in June the Commonwealth of Kentucky sued Polymarket and Kalshi, alleging they facilitated illegal sports betting. What operators and users should watch - ESMA’s note places the onus on firms planning EU expansion: they must evaluate both (1) whether their contracts are financial instruments under MiFID II and (2) whether national laws treat the products as gambling. - Failure to satisfy both tests could prompt enforcement actions similar to Spain’s temporary blocks or other national measures — and could limit access to retail customers across the EU if binary-options restrictions apply. Bottom line ESMA’s clarification doesn’t create new rules, but it raises the regulatory stakes for prediction markets eyeing Europe. For now, platforms and investors should assume EU law might already reach certain event contracts — and adjust product design, licensing plans and compliance efforts accordingly. Read more AI-generated news on: undefined/news

Standard Chartered and 56 other firms have just secured EU-wide crypto passports as the bloc’s new Markets in Crypto-Assets (MiCA) regime moves from transition to full enforcement. What happened - The European Securities and Markets Authority (ESMA) updated its interim register to show 300 authorized crypto-asset service providers (CASPs), up from 243 on June 26, after 57 new approvals landed around the July 1, 2026 MiCA deadline. - These additions include banks, institutional trading firms and digital-asset businesses that can now offer regulated crypto services across all 27 EU member states under a single authorization. Notable winners - Standard Chartered received MiCA authorization from Luxembourg’s regulator, the Commission de Surveillance du Secteur Financier (CSSF), on June 25 — together with an Electronic Money Institution license that unlocks full passporting across the EU. - Institutional trading platform FalconX gained authorization from Malta’s Financial Services Authority just before the deadline. - Other prominent entrants include digital-asset bank Sygnum Europe, Ronin EM, and CACEIS (the asset-servicing arm of Crédit Agricole and Santander). M&A and market moves - CACEIS is reportedly in exclusive talks to buy French crypto investment platform Meria — a business with about 150,000 users and roughly €350 million in assets under management — following Meria’s own MiCA CASP authorization in France. - Stripe-owned Bridge also secured MiCA CASP authorization and an Electronic Money Institution license in Luxembourg, enabling EU-wide regulated crypto services. Why this matters - MiCA creates a single regulatory rulebook for exchanges, custody providers, portfolio managers and crypto issuers across the EU. Authorization from one national regulator (e.g., Luxembourg’s CSSF or Malta’s MFSA) now serves as a passport to all member states, reducing the need for multiple national licenses. - With the transition period now over, firms that didn’t obtain a MiCA license must stop onboarding new EU customers and begin winding down regulated operations in the bloc. ESMA’s register is now the public checklist for who has completed the process. Immediate market effects - One high-profile consequence: Tether’s $186 billion USDT lost its compliant on-ramp to regulated EU exchanges after July 1. As a result, MiCA-authorized platforms such as Coinbase, Kraken and Crypto.com removed USDT trading for European users, taking the world’s largest stablecoin off regulated European order books despite its global dominance. What to watch next - Expect more consolidation as authorized institutions expand services across borders and as those without MiCA clearance either exit EU markets or pursue last-minute approvals. - Institutional investors and asset managers will increasingly rely on ESMA’s register to verify regulated counterparties under the unified framework, while passporting should continue to streamline cross-border crypto offerings in the region. Bottom line: MiCA’s enforcement is reshaping Europe’s crypto landscape — rapidly building a cohort of passported, regulated providers while forcing non-compliant players to retreat or adapt. Read more AI-generated news on: undefined/news

Sen. Kirsten Gillibrand on Friday renewed a push to ban members of Congress and their spouses from issuing or promoting crypto “memecoins,” intensifying an ethics fight that has flared since President Donald Trump’s recent crypto disclosure. The senator’s statement came after a financial filing showing roughly $1.4 billion in crypto-related income tied to the president for 2025 — a disclosure that has renewed concerns about conflicts of interest as lawmakers weigh the CLARITY Act, bipartisan legislation meant to create clearer rules for digital assets in the U.S. “This is a commonsense requirement that should get broad bipartisan support — public officials and their spouses should not be issuing memecoins,” Gillibrand said. “We cannot let self-dealing destroy an opportunity to strengthen consumer protections, crack down on illicit finance, and expand economic opportunity for the millions of Americans our financial system has left behind.” Why it matters - Ethics: Democrats pushing for the CLARITY Act want enforceable limits to prevent elected officials and their families from profiting from crypto assets they could influence through policy. Gillibrand says the president’s disclosure makes those safeguards even more urgent. - Legislative leverage: Gillibrand said she hopes the CLARITY Act can move through the Senate Banking Committee within about two weeks, but Democrats want unresolved issues addressed — including ethics language — before providing broader support. - Policy scope: Ongoing talks in the Senate reportedly cover stablecoin yield rules, stronger anti–illicit finance measures, and an explicit ethics clause banning government officials from creating or promoting cryptocurrencies. Context and controversy Trump launched a memecoin called TRUMP shortly before his second inauguration; the token became a high-profile political crypto launch. According to the disclosure and subsequent reporting, the project generated hundreds of millions of dollars for entities linked to the Trump family, while many retail buyers later suffered losses after the token plunged from its peak. Trump has denied any wrongdoing, telling reporters the gains were legal, attributing management of his holdings to outside investment groups and linking his income to broader market gains that benefited many investors. What’s next The dispute adds a political dimension to the CLARITY Act’s path through the Senate. While the bill aims to provide clearer regulatory guardrails for digital assets, the push from Democrats for an ethics ban shows Congress may not advance major crypto-market structure reforms without explicit, enforceable limits on officials’ crypto activities. As Senate debates continue, the inclusion — and language — of an ethics provision could be decisive for whether the CLARITY Act attracts the bipartisan support its sponsors seek. Read more AI-generated news on: undefined/news

Headline: Robinhood tapped to help roll out Treasury-backed “Trump Accounts” for kids — crypto currently sidelined but future integration possible Robinhood is playing a central role in the rollout of the Trump Accounts program, a U.S. Treasury-backed initiative that will open custodial investment accounts for children in time for a July 4 launch. Transfers are scheduled to begin through the Treasury ahead of the official launch, bringing retail brokerages into one of the administration’s highest-profile financial initiatives. What the program does - Eligibility: Children under 18 whose parents have a valid Social Security number qualify for accounts. - Federal seed: The government will deposit an initial $1,000 per eligible child. - Additional contributions: Families and approved third parties can add up to $5,000 per child each year via IRS Form 4547. - Infrastructure: The program stitches together the U.S. Treasury, the IRS, custodial brokerages, and retail investment platforms that will provide account access. Why Robinhood matters - While officials have not formally named an exclusive provider, Robinhood is widely expected to be a key distribution platform. That’s notable because Robinhood already merges traditional stock investing with cryptocurrency trading in a single app — a configuration that could make managing government-backed custodial accounts simple and familiar for young users. - For now, the Trump Accounts design does not include crypto or blockchain-based investments. Any future ability to hold digital assets would depend on regulatory approval and further program changes. Political and market color - President Trump said in a CNBC interview that he expects high-profile business figures — including Elon Musk — might contribute stock (Trump mentioned SpaceX), and that leaders such as Michael Dell and Micron have voiced support. Those remarks were presented as expectations, not confirmed donations; neither Musk nor SpaceX has announced plans to donate shares. - Crypto.news reported that after Trump’s comments, the SpaceX-linked ticker SPCX rebounded from an intraday low near $155 to close about 3% higher at roughly $162 on July 3. Why crypto watchers should care - The launch arrives as U.S. regulators continue to sort the boundaries between securities and digital assets. Although the initial product excludes crypto, the program is an example of regulated custodial investment products moving into mainstream distribution via retail brokerages — the same apps many retail investors use to access risk assets, including crypto. - Research from Messari has highlighted retail investment apps as a key on-ramp for individual investors into higher-risk assets. If brokerages integrate Trump Accounts into their existing platforms, long-term, government-backed investing could become more accessible to younger users through apps that already offer crypto trading — which may prompt fresh regulatory and policy debates about how digital assets and government-backed products coexist. Political backdrop and ethics scrutiny - The program’s rollout happens amid ongoing scrutiny of President Trump’s financial interests. Trump’s 2025 disclosures reportedly showed at least $1.4 billion in crypto-related income tied to ventures including a memecoin and World Liberty Financial, a detail that has fueled ethics conversations as lawmakers negotiate the CLARITY Act. Trump has denied knowledge of some reported crypto income and said there was “nothing illegal” about it. Bottom line Robinhood’s expected involvement makes the Trump Accounts rollout highly relevant to both traditional finance and crypto communities. For now, the accounts focus on conventional investments, but brokerage participation and continued regulatory work mean digital-asset questions are likely to resurface as the program evolves. Read more AI-generated news on: undefined/news

Donald Trump pulled in more than $1 billion from crypto ventures while serving as president — and Americans are furious, according to reactions collected after new financial disclosures. What the filings show - A 927‑page disclosure from the U.S. Office of Government Ethics shows Trump reported more than $2.2 billion in income last year from a sprawling portfolio that includes real estate, golf courses, royalties, branded products and legal settlements. - Roughly $1.1 billion of that haul came from his crypto-linked businesses World Liberty Financial and CIC Digital LLC, which have sold “governance tokens” and souvenir-style “memecoins” stamped with his likeness. - Trump has publicly pushed crypto policy too, saying early last year he wanted the U.S. to be the “crypto capital of the world.” Conflict-of-interest concerns The timing and scale of the crypto earnings have renewed accusations that the president is trading on his office. Critics argue that token projects tied to a sitting president raise clear conflict-of-interest and access-for-pay concerns; defenders, including White House spokesperson Anna Kelly, say neither the president nor his family “has ever engaged — or will ever engage — in conflicts of interest.” Trump told CNBC he’s simply “a really good business person” and that son Eric handles business matters. Public outrage: more than 400 responses The Guardian solicited U.S. reactions and collected more than 400 replies from voters across age groups and political backgrounds. Their responses focused on three recurring themes: - Perceived corruption and grifting: “It’s an insult to working-class Americans, obviously a grift,” said Gregg Savajian, a 72‑year‑old veteran from Washington state. - Inequality and policy tradeoffs: Commenters contrasted the president’s billions with rising inflation, high healthcare costs and rural service gaps. “We are not doing well,” said Elise, a 21‑year‑old medical student in Nebraska, who described family hardship after a lack of rural medical care. - Calls for legal guardrails: “This is blatant corruption… Congress should act to make it illegal,” said Brad Windsor, a retired firefighter from California. Broader implications for crypto and governance For crypto observers, the episode raises practical and ethical questions: What does it mean when a sitting head of state benefits massively from crypto projects that leverage his brand? How should governance tokens tied to political figures be regulated? Some respondents warned of long-term democratic harm if such practices go unchecked; others framed the situation as another example of an elite “billionaire caste” profiting while everyday Americans struggle. Bottom line The disclosure puts a high-profile spotlight on the intersection of politics, personal brand monetization and crypto. Whether it triggers new ethics enforcement, targeted legislation, or increased regulatory scrutiny of celebrity- and political‑figure–branded tokens remains to be seen — but public anger suggests the debate is only just heating up. Read more AI-generated news on: undefined/news

Nigel Farage reported to parliamentary standards watchdog over alleged crypto lobbying tied to major Tether investor Reform UK leader Nigel Farage has been reported to Parliament’s standards commissioner amid allegations that he lobbied the Bank of England on crypto policy in ways that could have advantaged his biggest donor — a billionaire with a major stake in USDT issuer Tether. Labour MP Phil Brickell, who chairs the parliamentary group on anti‑corruption and responsible tax, asked Parliamentary Commissioner for Standards Daniel Greenberg to investigate Farage’s contacts with the central bank. Brickell points to parliamentary rules that bar MPs from approaching officials or ministers on behalf of people who pay them for 12 months after such a payment. The complaint focuses on a private meeting held last September between Farage and Bank of England Governor Andrew Bailey. According to Brickell, Farage publicly championed Tether and criticised proposed restrictions on stablecoins before the meeting, urged Bailey to abandon plans for a central bank digital currency (the so‑called “Britcoin”), and later claimed credit for persuading the Bank to soften its approach. Last week the Bank dropped a proposed £20,000 cap on individual stablecoin holdings — a limit Farage had publicly attacked. Brickell told the Guardian that Farage “has since claimed credit for persuading the Bank to soften its position.” A second Labour MP, Joe Powell, has also written to Bailey seeking details of the meeting, arguing that decisions about the UK’s financial system — including a digital pound — should be made openly and on the basis of independent assessment, “not shaped behind closed doors to benefit individual financiers.” The alleged beneficiary is Christopher Harborne, a British billionaire based in Thailand who holds a reported 12% stake in Tether and ranks sixth on the Sunday Times Rich List. Farage accepted an undeclared £5 million ($6.7 million) gift from Harborne before he stood in the July 2024 general election — at that time he had not announced plans to run as an MP and the gift was not declared to parliamentary authorities. Greenberg is separately investigating whether that £5 million should have been declared. Additional payments from Harborne include two £25,000 political donations to Farage in January 2025 and February 2026 (reported as funding for trips to the U.S. and the Chagos Islands) and £15 million given to Reform UK between last August and February. Farage and Harborne deny any quid pro quo. Farage has described the £5 million as “unconditional” and “a purely private matter,” while his explanations for the gift have varied over time — from security funding to a reward for Brexit campaigning to general discretionary funds. Reform UK has dismissed the lobbying allegations as “utter rubbish.” Labour has accused Farage of evading scrutiny. The Bank of England said the September meeting was part of routine engagement with political figures and acknowledged that Farage and Bailey hold differing views on a digital pound, but it has not published minutes of the conversation. Farage has positioned himself as a crypto champion, previously calling for a UK Bitcoin strategic reserve and advocating lower capital gains taxes for digital assets. Phil Brickell’s complaint frames the issue broadly: whether an MP who “has received millions from one individual” should be advancing policies that could increase the value of that donor’s investments. Decrypt has reached out to Nigel Farage and Phil Brickell for comment and will update this story if they respond. Read more AI-generated news on: undefined/news

An American student in Jerusalem has been indicted in Israel on espionage charges after allegedly carrying out surveillance tasks for handlers tied to Iran — and being paid in cryptocurrency for his work. What happened - Eli Lavon, 21, an American citizen studying at an ultra‑Orthodox seminary in Jerusalem, was formally charged Friday with two counts of contact with a foreign agent and 14 counts of communicating information that could benefit an enemy, according to an indictment from the State Attorney’s Office reported by CNN. - Prosecutors say the case began in November 2025, when Lavon, visiting relatives in the U.S., replied to a job posting on Telegram. About a month later — as he was returning to Israel — an individual claiming to represent Iranian intelligence allegedly began directing him to conduct surveillance. - Tasks described in the indictment include filming an abandoned building in a religious Jerusalem neighborhood, recording inside a grocery store, and hiding a cigarette pack with a note reading “The job is complete” in a mall trash can. - Lavon allegedly communicated via two Telegram accounts and three phones and was compensated in cryptocurrency. After that line of contact ended, prosecutors say he began communicating with a second Iran‑linked handler, who asked him to hide a flash drive wrapped in cash at a restaurant and to send a photo of his passport. That handler sought names of fellow seminary students; Lavon reportedly refused. - Prosecutors allege total payments from both handlers came to roughly $1,379. Why it matters - Israeli authorities say this is the first prosecution of a U.S. national as part of a widening crackdown on Israelis recruited to spy for Iran; roughly 60 people have been indicted on Iran‑related espionage charges since 2023. - Officials note several sites reportedly surveilled by recruits were later struck in Iranian missile attacks. - The case also highlights the role of encrypted messaging apps and cryptocurrency in cross‑border covert operations — Telegram for recruitment and coordination, and crypto for remote payments — raising questions about how digital assets and platforms can be exploited by state‑linked actors. Responses - Ronit Shentzer Yaakobi of the Jerusalem District Attorney’s Office warned the indictment demonstrates “how foreign intelligence agencies attempt to exploit the digital sphere to identify, recruit, and operate individuals from within Israel,” urging vigilance and immediate severing of contact when approached. - Lavon’s lawyer, Raz Bar Tzvi, told CNN that being contacted online by a foreign actor “doesn’t make someone a spy,” arguing the indictment’s facts do not support the charges. He declined to say how his client will plead. Bottom line The case is a rare example tying cryptocurrency payments to alleged state‑linked espionage and underscores growing security concerns around digital recruitment channels. Israeli prosecutors are treating it as part of a broader campaign to disrupt Iran’s intelligence outreach inside Israel. Read more AI-generated news on: undefined/news