Bearish (UK/EU Compliance Margins): The UK FCA’s April multi-firm thematic review establishes firm supervisory expectations for strictly independent, third-line AML audits. Concurrently, the EBA’s newly harmonised SEPA mandates will trigger an unbudgeted spike in compliance data reporting overhead for fiat gateways. Bullish (APAC Institutional Revenue): Japan’s cabinet officially approved a draft bill reclassifying crypto assets as financial products. While introducing seve

Executive Summary This week's regulatory developments emphasise a continued focus on strong governance frameworks, the implementation of...

Executive Summary July 2025 marked a key phase in the operationalisation of the Markets in Crypto-Assets (MiCA) regulation. The European...