Illustration representing the European Securities and Markets Authority (ESMA) and EU regulation of event contracts and binary options

ESMA Reminds Firms That Certain Event Contracts Are Subject to EU Binary Options Rules

July 4, 2026 55

PARIS, July 3, 2026 — The European Securities and Markets Authority (ESMA) has reminded firms offering prediction markets, also known as event contracts, to assess whether their products fall within existing national product intervention measures on binary options where they qualify as financial instruments, as the growing popularity of such products and increasing retail participation draw greater regulatory attention.

Illustration of a regulatory document examined with a magnifying glass, representing the SEC's review of the regulatory framework for novel exchange-traded funds, including crypto asset ETFs

SEC Seeks Public Comment on Novel ETFs, Including Crypto Asset Funds

June 30, 2026 49

WASHINGTON, June 30, 2026 — The U.S. Securities and Exchange Commission has issued a request for public comment on exchange-traded funds investing in innovative asset classes or using novel investment strategies, including crypto assets, as the agency considers whether changes to the regulatory framework could better support innovation while protecting investors and maintaining fair, orderly and efficient markets.

Illustration of a regulatory document with checkmarks representing the United Kingdom's final cryptoasset regulatory framework

FCA Publishes Final Crypto Rules as UK Advances Comprehensive Regulatory Regime

June 30, 2026 55

LONDON, June 30, 2026 — The Financial Conduct Authority has published its final cryptoasset policy statements, setting out the United Kingdom’s regulatory framework for cryptoasset firms and confirming the timetable for mandatory authorisation ahead of the regime’s implementation in October 2027.

Illustration of a pound sterling digital coin representing the UK regulatory framework for systemic stablecoin issuers

UK Regulators Outline Joint Framework for Systemic Stablecoin Issuers

June 30, 2026 57

LONDON, June 30, 2026 — The Financial Conduct Authority and the Bank of England have published a joint approach explaining how systemic stablecoin issuers would be regulated in the United Kingdom, including how firms may move from FCA-only supervision to joint oversight once recognised as systemic by HM Treasury.

Minimalist illustration of an open padlock representing MiCA authorization and access to the European Union crypto market.

ESMA Calls on Unauthorised CASPs to Wind Down as MiCA Transition Ends

June 27, 2026 68

PARIS, June 23, 2026 — The European Securities and Markets Authority has called on unauthorised crypto-asset service providers to immediately begin winding down their European Union activities in an orderly manner ahead of the end of the Markets in Crypto-Assets Regulation (MiCA) transitional period on July 1, while taking steps to safeguard clients’ interests and mitigate risks to market integrity.

Illustration of two interlocking puzzle pieces representing the SEC and CFTC effort to harmonize portfolio margining frameworks

CFTC, SEC Seek Public Comment on Portfolio Margining Frameworks

June 27, 2026 60

WASHINGTON, June 26, 2026 — The Commodity Futures Trading Commission and the Securities and Exchange Commission have issued a joint request for public comment on potential approaches to further harmonize regulatory frameworks applicable to portfolio margining across securities, security-based swaps, futures, swaps and related positions.

Illustration of a crude oil barrel representing 24/7 trading and perpetual contracts for energy commodities

CFTC Opens Consultation on 24/7 Trading and Perpetual Contracts for Energy Commodities

June 23, 2026 56

WASHINGTON, June 22, 2026 — The Commodity Futures Trading Commission has issued a request for public comment on the extension of standard futures contracts to 24/7 trading and on the potential listing of perpetual contracts referencing physically delivered or storable energy commodities, including crude oil.