[News Brief] Jun 29, morning | European Banking Authority Releases Consultation Paper on Standardized Penalty Framework for Crypto-Asset Issuers Violating MiCA

European Banking Authority Releases Consultation Paper on Standardized Penalty Framework for Crypto-Asset Issuers Violating MiCA

The European Banking Authority (EBA) on the 26th published a consultation paper containing a standardized penalty framework for crypto-asset issuers that violate the MiCA regulation, according to Fnnews citing Cointelegraph.

Under the proposal, if a significant token issuer breaches the rules, it could face a fine of up to 12.5% of annual turnover or twice the profit gained from the violation. For significant e-money tokens, the upper limit of the fine is 10% of annual turnover.

The EBA plans to calculate fines through a two-step process, first assessing the seriousness of the violation and then reflecting aggravating and mitigating factors. The move shows that MiCA is entering a practical enforcement stage.

Previously, the European Union introduced the MiCA framework requiring crypto firms to obtain formal authorization from national regulators in order to operate across its 27 member states. Firms that fail to obtain authorization face the risk of business suspension.

Revised Korean Listing Rules to Take Effect on July 1, Putting KOSDAQ Crypto Treasury Firms at Risk of Delisting

Odaily, citing Chosun Ilbo, reported that South Korea’s revised listing rules will take effect on July 1, putting KOSDAQ-listed crypto treasury firms at risk of delisting.

According to the report, Bitmax fell 6.3% to 1,228 won on the day, with its market capitalization dropping below the minimum threshold for the second half, heightening delisting risk. Parataxis Ethereum and Bit Planet are above the second-half standard but reportedly fall short of the higher market cap requirement set to take effect next January.

Parataxis Korea has been suspended from trading since April due to capital impairment and is undergoing a listing eligibility review. The pressure is interpreted as the result of a combination of weak Bitcoin prices, sluggish KOSDAQ market conditions, and capital concentration in large-cap stocks.

China Merchants Securities Analyzes Korean Stock Market Absolute Leverage as Reaching a Historic High

According to Odaily, China Merchants Securities analyzed that the current on-exchange leverage multiple in the Korean stock market is around 2x to 5x, and that absolute leverage has reached a historical high.

However, it assessed that the leverage ratio relative to market capitalization is not at an extreme level compared with past periods or overseas markets. It also said market sentiment and liquidity indicators are somewhat tense but have not clearly deteriorated.

China Merchants Securities pointed out that high leverage could increase volatility and lead to liquidity pressure. It explained that if stock prices fall by 16% to 36%, margin calls could be triggered, and forced liquidation pressure has recently increased.

Whale Alert Detects Transfer of About 190.14 Million USDC From Anonymous Wallet to Aave

Whale Alert said on the 29th that about 190.14 million USDC had been transferred from an anonymous wallet to Aave.

The transfer was valued at approximately $190.21 million. Large stablecoin movements often draw market attention in connection with deposits into DeFi protocols or liquidity provision.

Hyper Foundation Allocates $10 Million in Grants to Support Developers Affected by USDH Shutdown

The Hyper Foundation has allocated approximately $10 million in grants to support developers affected by the shutdown of USDH.

According to Wu Blockchain, the funding is intended to offset migration and service termination costs, and eligible recipients include HIP-1 and HIP-3 deployers, HyperEVM protocols, the USDH:USDC bridge, and native markets.

To receive the grants, eligible parties must complete USDH-related migration or orderly shutdown procedures by the end of July. The measure is intended to reduce the burden on ecosystem developers resulting from the end of USDH support.

Onchain Lens: Investor Deposits 2 Million USDC Into Hyperliquid and Opens Long Position of 31,255 CL With 1x Leverage

According to Onchain Lens, an investor deposited 2 million USDC into Hyperliquid and opened a long position of 31,255 CL using 1x leverage.

The investor was previously found to have recorded losses of more than $4.06 million.

Arthur Hayes Buys 6.16 Million SYN From Flowdesk

According to Odaily, Onchain Lens said Arthur Hayes purchased 6.16 million SYN from Flowdesk. The purchase was worth $2.2 million.

The transaction was detected through on-chain monitoring. Flowdesk is a cryptocurrency market-making firm.

predict.fun Officially Launches World Cup Round-of-32 Prediction Event

According to Odaily, predict.fun has officially launched its World Cup Round-of-32 tournament prediction event and updated the operating model for Predict Cup.

The platform said it will open 11 prediction markets for each match and expand Fan Points rewards. More than $1.1 million remains in the prize pool, and rewards will be distributed after each tournament match concludes.

predict.fun said it aims to increase user participation by expanding prediction markets and strengthening rewards in line with the start of the tournament.

CITIC Securities Expects Faster MLCC Industry Price Increases and Upcycle Lasting More Than One Year

CITIC Securities analyzed that the recent price increase trend in the MLCC industry is accelerating and that the current price upcycle could last for more than a year, according to Odaily.

CITIC Securities said this cycle could resemble the boom period of 2017 to 2018, and projected that the scale of manufacturers’ price hikes could expand to more than double.

Odaily Reports Delisting Risk for KOSDAQ Crypto Treasury Firms

Odaily, citing Chosun Ilbo, reported that South Korea’s revised listing rules will take effect on July 1, putting KOSDAQ-listed crypto treasury firms at risk of delisting.

According to the report, Bitmax fell 6.3% to 1,228 won on the day, with its market capitalization dropping below the minimum threshold for the second half, heightening delisting risk. Parataxis Ethereum and Bit Planet are above the second-half standard but reportedly fall short of the higher market cap requirement set to take effect next January.

Parataxis Korea has been suspended from trading since April due to capital impairment and is undergoing a listing eligibility review. The pressure is interpreted as the result of a combination of weak Bitcoin prices, sluggish KOSDAQ market conditions, and capital concentration in large-cap stocks.