Gate Daily (June 30): Trump to Decide on CBDC Ban Bill Within 10 Days; UK FCA Releases Final Crypto Regulatory Framework

Bitcoin (BTC) short-term rebound lacks momentum, temporarily reported around $59,807 on June 30. The U.S. housing bill containing a central bank digital currency (CBDC) ban has been sent to Trump, who will decide to sign or veto within 10 days. The UK Financial Conduct Authority (FCA) released the final crypto regulatory framework, with a mandatory licensing system taking effect in October 2027.

Macro Events & Crypto Hotspots

1. According to Cointelegraph, U.S. House Speaker Mike Johnson on Monday sent the housing bill containing a CBDC ban (until 2030) to President Trump, who has about 10 days to sign, veto, or shelve the bill.

2. According to The Block, the UK Financial Conduct Authority (FCA) on Tuesday finalized a comprehensive crypto regulatory framework, with a mandatory licensing system taking effect on October 25, 2027. The framework covers prudential requirements, market abuse regulation, and stablecoin standards, and applies to crypto trading platforms, custodians, stablecoin issuers, lending and staking service providers, and some DeFi companies with identifiable controlling entities. Companies can apply for authorization between September 30, 2026 and February 28, 2027. Existing anti-money laundering registrations will not automatically convert.

Regarding trading platform rules, the FCA requires UK-qualified crypto asset trading platforms to conduct due diligence, meet admission criteria, and publish disclosure documents, while canceling the previous exemption that allowed fungible crypto assets to be listed without disclosure documents. Market abuse rules cover insider trading and market manipulation. On stablecoins, the FCA canceled the requirement for redemption forecasts of reserve assets, allowed limited intra-group custody arrangements, and lowered the K-SII capital coefficient for stablecoin issuance from 2% to 1%. Crypto assets on qualified platforms will be subject to a uniform 40% net risk exposure requirement and 40% counterparty default volatility adjustment. FCA Executive Director of Payments and Digital Finance David Geale said the framework is an important milestone for UK crypto regulation, providing regulatory certainty for businesses while maintaining room for innovation.

News Updates

1. U.S. CFTC launches broad investigation into Polymarket, covering social media activity and fake trading

2. Stream Finance initiates creditor registration, advancing the "Global Settlement" process

3. The USD to JPY exchange rate breaks above 162, first time in nearly 40 years

4. Crypto KOL Ansem airdrops 67.38 million ANSEM to over 700 wallets

5. Securitize to list on NYSE after investor approval of SPAC merger

6. Tom Lee: Crypto market headwinds and tailwinds coexist, pessimism may have peaked

7. FG Nexus sells another 3,375 ETH, cumulative losses exceed $86.8 million

8. Housing bill with CBDC ban sent to Trump, decision within 10 days

9. U.S. SEC issues final judgment in NanoBit crypto fraud case, fine over $5 million

Market Trends

1. Bitcoin latest: $BTC short-term rebound lacks momentum, temporarily reported around $59,807. In the past 24 hours, liquidations of $84.25 million, mainly short positions.

2. U.S. stock markets closed higher on June 29, with the Dow Jones Industrial Average breaking through 52,000 points to close at a record high. Hostilities between the U.S. and Iran eased over the weekend, and major tech stocks rose after a recent sell-off as bargain hunters stepped in. The Dow Jones Industrial Average closed up 306.63 points, or 0.59%, at 52,182.74 points, a new high; the S&P 500 rose 86.41 points, or 1.18%, to 7,440.43 points; the Nasdaq Composite rose 522.53 points, or 2.07%, to 25,820.14 points.

(Source: Gate)

3. In the Gate BTC/USDT liquidation map, based on the current price of 59,845.60 USDT, if it drops to around $58,716, cumulative long liquidation amount exceeds $327 million; if it rises to around $61,043, cumulative short liquidation amount exceeds $274 million. Short liquidation amount is significantly higher than long, it is recommended to reasonably control leverage ratios to avoid triggering large-scale liquidations during market fluctuations.

(Source: Coinglass)

4. In the past 24 hours, BTC spot inflows were $2.61 billion, outflows $2.71 billion, net outflow $100 million.

(Source: Coinglass)

5. In the past 24 hours, contract trading net outflows led by $MU, $SPCX, $SNDK, $DOT, $DOGE , etc., presenting trading opportunities.

Selected Views from X KOLs

Phyrex Ni (@Phyrex_Ni): "On the first day of the new week, I think it's okay. First, America indeed TACO'd as expected, the U.S.-Iran agreement continues, war hasn't escalated. WTI price is back around $70. It seems $70 is still quite strong; unless the Strait of Hormuz is fully opened, it may not be easy to drop below $65 in the short term. So shorting at the current price is not worth it."

"If WTI can return to $75 or the spread with Brent widens to over $5, I can still chase a short. Otherwise short-term gains are too low. My funds have started returning to doing dual coin of $BTC , with a target to continue building positions at $59,000. I previously bought at $62,000 and $63,000 respectively."

"Although $MSTR did not buy any Bitcoin last week, I am quite happy because I said last week that the best way for MSTR now is to hunker down for the winter, reduce BTC purchases, reduce preferred stock ATM, use more common stock ATM, and accumulate more cash. MSTR has done all that, so today it is obvious that preferred stocks including $STRC have risen well."

"In the short term, no need to worry about MSTR tanking. Current cash reserves are enough to pay preferred stock dividends for over a year. As for MSTR selling BTC, that should be a last resort. If they sell BTC, it should be for buybacks, and selling BTC will definitely not be on the secondary market; OTC is most likely."

"And I believe selling BTC now is not MSTR's preferred choice. Although the early BTC is profitable, the current average cost is still at a loss, which would make the market think MSTR is selling BTC at a loss, hurting MSTR's common stock ATM. So I think it's unlikely they'll rush. Let's wait and see. Overall, MSTR's new framework today is not bad for the market."

Today's Outlook

1. China June official manufacturing PMI, previous 50.0

2. UK Q1 GDP final (y/y), previous 1.1%

3. UK Q1 current account (billion GBP), previous -18.4

4. UK Q1 GDP final (q/q), previous 0.6%

5. France June CPI (m/m) preliminary, previous 0.1%

6. Germany June seasonally adjusted unemployment rate (official), previous 6.3%

7. Canada May GDP (m/m), previous -0.1%

8. U.S. June Conference Board Consumer Confidence Index, previous 93.1

9. U.S.-Iran technical talks

10. Australian central bank releases June monetary policy meeting minutes

11. European Central Bank holds central bank forum in Sintra