Crypto News Today (June 29): BTC Loses $60K Again, EU Goes After MiCA Violators Following Binance Cull and the BIS Makes Stark Stablecoin Warning

In crypto news today (June 26), BTC USD continues its struggle to hold key support at $60,000, currently trading around $60,200. Liquidations slowed considerably from $1Bn late last week to $206M in the past 24-hours, with $150M of that figure coming from long positions.

ETF flows closed last week bearishly, with over $444M of Bitcoin sold across various products, bringing last week’s total outflows to over $1.7Bn. This worrying amount of Bitcoin being sold has become a main catalyst in the recent price action across the market.

While nearly every major cap token is currently in the red over the past 24 hours, OG coins in Bitcoin Cash (BCH) and Litecoin (LTC) are two of the established projects in the green today, each up a modest +0.5. Daily trading volume has exceeded $105Bn, an increase of more than $10Bn compared with yesterday.

With Bitcoin losing $60,000 on Sunday, the Fear & Greed Index has kicked off this week by reflecting this shaky price action, sitting at 12/100, down from 24/100 at the beginning of last week.

Market Cap

24h
7d
30d
1y
All Time

Crypto News Today: EU Proposes Fines of Up To 12.5% of Annual Revenue for Firms’ Violating MiCA Regulations

The European Banking Authority (EBA) has proposed a new framework for calculating penalties against major digital asset issuers that violate the requirements of the Markets in Crypto-Assets (MiCA) regulation. Under this proposal, fines could reach up to 12.5% of a company’s annual revenue.

The EBA published a consultation paper on June 26, 2026, outlining a two-step approach for determining penalties. Regulators would first assess the baseline severity of a violation and then adjust the fine based on aggravating or mitigating circumstances.

This proposal specifically applies to significant issuers of asset-referenced tokens (ARTs) and electronic money tokens (EMTs). Maximum penalties could reach 12.5% of annual revenue for ART issuers and 10% for EMT issuers. Alternatively, regulators could impose a fine equal to twice the profit gained from the violation.

MICA DEADLINE COULD FORCE HUNDREDS OF THOUSANDS OF EUROPEAN CRYPTO USERS OFF THEIR EXCHANGES

While much of the attention has focused on Binance, the July 1 MiCA deadline is a much bigger story.

Only around 200 crypto firms have secured a MiCA licence out of more than 3,000… pic.twitter.com/oOSzDu0eWD

— Bitcoin News (@BitcoinNewsCom) June 27, 2026

This draft framework is part of the EU’s broader effort to strengthen enforcement under MiCA, which establishes a unified regulatory regime for crypto companies operating within the bloc. MiCA mandates that token issuers and crypto service providers comply with rules regarding disclosures, consumer protection, corporate governance, and reserve management.

The proposed penalty framework aims to deter companies from operating without the required authorization or from violating EU crypto regulations. European authorities expect that MiCA will enhance the transparency of the cryptocurrency market, strengthen investor protection, and create a consistent regulatory environment across the European Union.

The Bank for International Settlements (BIS) Says Stablecoins Threaten Global Monetary System

INSIGHT! Frank Smets, Acting Head of #BIS Monetary & Economic Department, pushes back on claims that Central Banks are "Anti-Stablecoin." His view: policy should be "Technology-Neutral." Even with widespread adoption, the impact of stablecoins on the economy "Remains Limited." pic.twitter.com/zdRE9abOdG

— ChartNerd (@ChartNerdTA) June 28, 2026

In other crypto news today, the Bank for International Settlements (BIS) has warned that the rapid growth of the stablecoin market, currently valued at about $316Bn, could fragment the global monetary system and weaken government control over monetary policy. They emphasize that stablecoins lack essential institutional features needed to be reliable as money on a large scale.

The BIS highlighted vulnerabilities in reserve asset management and cautioned that a shift of funds from commercial bank deposits to private digital tokens could weaken bank funding and restrict lending. They believe current regulations on stablecoins may be insufficient as their popularity grows.

The BIS advocates developing tokenized commercial bank deposits and central bank money within a regulated framework as a safer alternative. They also raised concerns about “stablecoin dollarization,” which could undermine monetary sovereignty and increase risks for emerging markets.

The post appeared first on 99Bitcoins.