Societe Generale will launch a dollar-backed stablecoin, dubbed USD CoinVertible, through its crypto arm SG‑FORGE. Scheduled for public trading in July, it will run on Ethereum and Solana blockchains, with BNY Mellon holding its reserves .

This marks the first time a large European lender has introduced a USD stablecoin, aiming to compete with major issuers like Tether. Applications include cross-border payments, FX hedging, collateral management, and crypto trading .

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🚨 US DOJ Charges Crypto Executive in Massive Laundering Scheme

Iurii Gugnin, CEO of Evita Investments/Evita Pay, is accused by the U.S. Department of Justice of laundering over $500–$530 million via Tether between June 2023 and January 2025. The funds helped sanctioned Russian banks like VTB and Sberbank evade restrictions .

He faces multiple counts, including wire and bank fraud, unlicensed money transmission, and AML violations—potentially resulting in decades behind bars, with some charges carrying up to life imprisonment .

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📈 Bitcoin and Crypto Rally Continues

Bitcoin has surged past $110,000 (briefly touching $110.5K), marking a +3–4% gain today .

Ethereum rose around 7–9%, with XRP and Solana also posting solid gains .

Analysts note that while the rally is strong, Bitcoin will need fresh macro catalysts—such as strong economic data or geopolitical risk—to break decisively past its all‑time highs near $112K .

Institutional trends are clear: 98 of the top 100 coins are in the green, crypto market cap has risen ~1.8% to $3.54 trillion, and trading volumes are back to ~$126 billion .

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🇬🇧 UK's FCA To Lift Retail Ban on Crypto ETNs

The Financial Conduct Authority is proposing to end its ban on crypto ETNs (exchange-traded notes) for retail investors—with cautionary measures and public consultation .

While ETN access would expand, derivatives products will remain off‑limits—notably preserving protection for inexperienced investors .

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🔍 In Summary

Trend Details

Institutional adoption European banks and UK regulators actively opening to crypto

Regulatory/Legal scrutiny U.S. DOJ signals crackdown on crypto-based money laundering

Price action Strong rally, but needing fresh macroeconomic stimuli

Investor access UK retail expansion into crypto financial products

These developments underscore a global shift: traditional finance embracing crypto infrastructure, regulators becoming more receptiv

e, but enforcement tightening around illicit flows.

$BTC

$ETH