[News Brief] Jun 19, morning | U.S. financial regulators release draft rules requiring bank-level KYC for stablecoin issuers

U.S. financial regulators release draft rules requiring bank-level KYC for stablecoin issuers

U.S. financial regulators have released draft implementation rules that would require stablecoin issuers to follow bank-level customer identification procedures.

According to PANews, financial regulatory agencies including the Federal Reserve and the Treasury Department jointly announced the draft rules for implementing the GENIUS Act. The draft requires stablecoin issuers to comply with the Bank Secrecy Act, verify customer identities, retain information such as names and addresses, and carry out checks against terrorist organization and sanctions lists.

The proposed rule has now entered a 60-day public comment period and will take effect officially once the final version is confirmed. Federal Reserve Vice Chair Michael Barr said the current framework is not sufficient to address illicit finance risks in secondary-market trading.

U.S. senators to meet next week to finalize Bitcoin clarity bill before August recess

U.S. senators are expected to meet next week to finalize a Bitcoin clarity bill before the August recess, according to a report citing Punchbowl.

The bill is said to focus on clarifying regulatory standards for cryptocurrencies. The market is watching closely to see whether it will help reduce regulatory uncertainty.

Source: @pete_rizzo_

U.S. spot SOL ETFs record daily net inflow of $2.9895 million

Odaily, citing SoSoValue data, reported that U.S. spot SOL ETFs recorded net inflows of $2,989,500 on June 18 Eastern Time.

The day’s inflow came solely from the Bitwise Solana Staking ETF (BSOL), whose cumulative net inflows reached $892 million.

As of the time of reporting, total net assets of U.S. spot SOL ETFs stood at $794 million, with a SOL net asset ratio of 1.96%. Total cumulative net inflows were reported at $1.131 billion.

U.S. spot XRP ETFs record daily net inflow of $2.5454 million

Odaily, citing SoSoValue data, reported that U.S. spot XRP ETFs recorded total net inflows of $2,545,400 on June 18 Eastern Time.

The day’s inflow came solely from the Bitwise XRP ETF, whose cumulative net inflows reached $476 million.

As of the time of reporting, total net assets of spot XRP ETFs stood at $995 million, with an XRP net asset ratio of 1.39%. Total cumulative net inflows were reported at $1.447 billion.

ETH falls below $1,700

ETH fell below $1,700, showing weakness.

PANews reported on June 18, citing OKX market data, that ETH was trading at $1,698.51, down 4.21% on the day.

About $180 million in crypto long positions liquidated in the past 60 minutes

According to Watcher.Guru, roughly $180 million in long positions were liquidated across the crypto market in the past 60 minutes.

Long liquidation occurs when leveraged bullish positions are forcibly closed during a price decline and is generally interpreted as a sign of rising short-term volatility.

Former Ethereum Foundation contributor says core Ethereum development could face funding crunch within 3 to 9 months

According to Wu Blockchain, former Ethereum Foundation contributor Trent Van Epps said Ethereum’s core development sector could face a gradual funding crunch within the next three to nine months.

He cited reduced spending by the Ethereum Foundation and the end of the Client Incentive Program (CIP), estimating that around $30 million per year is needed to sustain the core development ecosystem.

Van Epps argued that the Ethereum Foundation was not designed to serve as the permanent governing body of the network and that new institutions and funding structures are needed.

JPMorgan says Bitcoin mining profitability deteriorates, with BTC below estimated production cost for five straight months

JPMorgan said Bitcoin mining profitability has worsened in 2026, with Bitcoin trading below its estimated production cost for five consecutive months.

According to Wu Blockchain, JPMorgan estimated Bitcoin’s production cost at about $78,000 and said roughly 20% of mining firms are currently unprofitable.

Publicly listed mining companies sold more than 32,000 BTC in the first quarter of 2026 to secure operating funds. That exceeded the total amount sold in all of 2025.

JPMorgan said that if Bitcoin continues to trade below production cost, volatility in hash rate and mining difficulty could increase, along with the frequency of adjustments.

Upbit lists PEAQ, LIT, KMNO, MORPHO, GRAM, LDO, PAXG, OSMO, and AMP on BTC and USDT markets

According to PANews, South Korean crypto exchange Upbit announced the listing of nine tokens — PEAQ, LIT, KMNO, MORPHO, GRAM, LDO, PAXG, OSMO, and AMP — on its BTC and USDT markets.

Trading will begin at 3:00 p.m. on June 19. The listing is part of Upbit’s expansion of supported assets on its BTC and USDT trading markets.

Bithumb lists RE token on KRW market

According to Odaily, Bithumb announced that it will list the RE token on its KRW market.

Trading is scheduled to begin at 3:00 p.m. local time on June 19. A KRW-market listing is generally seen as improving accessibility for domestic investors.