Ripple and SBI have launched Ripple USD (RLUSD) in Japan following regulatory approval, giving institutional and retail users access via SBI’s VCTRADE crypto exchange platform. The U.S. dollar-backed stablecoin is categorized in Japan as an electronic payment instrument under the Payment Services Act. RLUSD has reached a $1.7 billion market capitalization.

Grayscale Investments said several leading revenue-generating crypto protocols are trading at relatively low valuation multiples. The asset manager said a potential CLARITY Act vote in the coming weeks could bolster growth in on-chain finance and tokenized assets. The firm pointed to revenue rankings that it said highlight discounted multiples across major on-chain applications.

More than 70,000 U.S. law enforcement professionals are urging federal officials to revise parts of the Digital Asset Market Clarity Act (CLARITY Act). They warned that broad exemptions could weaken oversight, accountability, and investigative tools used in digital-asset crime cases. The coalition also called for maintaining Bank Secrecy Act, know-your-customer, and anti-money laundering requirements across digital-asset markets.

Binance is looking for a new EU licensing path after withdrawing its MiCA licence application in Greece shortly before its current permission expires. The exchange now faces an authorization deadline as it prepares to apply in another EU member state. The move comes as the MiCA transition period approaches its end, tightening the timeline for firms operating without full approval.

Crypto firms serving clients across the European Economic Area risk being forced to halt services if they do not obtain authorization under the Markets in Crypto-Assets Regulation (MiCA) before enforcement begins. Regulators have ruled out any extension. That leaves more than 1,200 previously registered firms a short runway to comply, as only a small number have received full approval.

Cboe is launching prediction market-style binary options linked to the Mini-S&P 500 Index, scaled to one-tenth the S&P 500 benchmark. The contracts let traders take yes-or-no positions through broker platforms including Interactive Brokers. At settlement, payouts are fixed at $100 or $0 depending on the outcome.

Crypto markets faced tighter liquidity conditions after the Federal Reserve held rates steady while signaling heightened inflation concerns. Wintermute said a more restrictive stance could slow liquidity entering crypto via ETFs, stablecoins and DATs. Fed projections also showed the median 2026 rate outlook moving higher, and markets repriced expectations for a December hike to about 77%.

An analysis found that several altcoins saw heavier exchange outflows than inflows, a pattern often linked to accumulation. In contrast, a group of larger cryptocurrencies recorded stronger inflows, pointing to different positioning across the market. The split was highlighted in CryptoQuant’s June 23 review of Gate netflows.

Ripple said it has received preliminary approval under the EU’s Markets in Crypto Assets (MiCA) regime for a Crypto Asset Service Provider license, a step that could allow it to expand regulated services across all 30 countries in the European Economic Area. The authorization positions the company to broaden its regulated offering across the region, according to Ripple.