Welcome to the June 2026 edition of The Monthly Crypto Map — your monthly wrap of the developments reshaping the global crypto landscape.

June was a month of contrasts for the crypto industry. Europe entered the final stretch before MiCA came into force, while the US continued implementing parts of its stablecoin framework even as the Clarity Act remained stalled in the Senate. In Asia, regions including Japan, Hong Kong and Taiwan continued to refine their crypto rulebooks, signalling that regulation is gradually becoming the norm rather than the exception.

India, meanwhile, doubled down on enforcement, with tax authorities, the Enforcement Directorate and the Financial Intelligence Unit stepping up scrutiny of crypto transactions. Elsewhere, the US sanctioned four Iranian crypto exchanges as concerns over sanctions evasion intensified, while Kraken's partnership with the FIFA World Cup 2026 showed how crypto companies continue to push deeper into the mainstream despite an increasingly regulated environment.

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US

A Reuters investigation published in June found that crypto ventures linked to US President Donald Trump and his family generated an estimated $2.3 billion in profits since his return to the White House, while many investors in those projects suffered steep losses.

The Clarity Act, which aims to establish a regulatory framework for digital assets in the US, lost momentum in June as lawmakers failed to schedule it for a Senate floor vote. Although the bill was placed on the Senate Legislative Calendar on June 1 after clearing the Senate Banking Committee in May, negotiations over ethics provisions, stablecoin rewards, anti-money laundering safeguards and DeFi-related rules continued to delay its progress.

The Clarity Act came under fresh scrutiny in June after four US law enforcement organisations urged the Department of Justice and the White House to amend key provisions of the bill. In a joint letter, the groups warned that Section 604 could create regulatory loopholes by exempting certain crypto participants from anti-money laundering requirements, making it harder to investigate and prosecute financial crimes involving digital assets.

Cryptocurrency companies have spent $189 million so far to influence the 2026 US midterm elections, surpassing what they spent during the previous election cycle, according to a report by consumer advocacy group Public Citizen. The biggest beneficiaries of crypto’s corporate spending are the sector-focused Fairshake ($82.6 million) and MAGA Inc. ($56.2 million), the Trump-backing super PAC.

US financial regulators proposed know-your-customer (KYC) requirements for payment stablecoin issuers in June as part of the implementation of the GENIUS Act, the country's landmark stablecoin law. The joint proposal by the Treasury Department's Financial Crimes Enforcement Network (FinCEN) and federal banking regulators would require issuers to verify customer identities, maintain records, monitor transactions and report suspicious activity.

INDIA

The Enforcement Directorate (ED) conducted searches at six locations in Bengaluru in June as part of an investigation into alleged unauthorised cross-border money transfers worth over Rs 2,500 crore using virtual digital assets (VDAs). The probe covers multiple entities suspected of facilitating overseas remittances through cryptocurrencies without regulatory approval, in violation of the Foreign Exchange Management Act (FEMA).

India's Financial Intelligence Unit (FIU-IND) stepped up scrutiny of large over-the-counter (OTC) cryptocurrency transactions in June, asking major crypto exchanges to share trade data for deals exceeding $10,000. The move is aimed at improving transparency around off-exchange transactions, particularly those involving closely held entities where the ultimate beneficial owners may be difficult to identify.

India's Income Tax Department issued more than 44,000 notices to taxpayers who failed to disclose cryptocurrency transactions, uncovering Rs 888.8 crore ($104 million) in undisclosed income through data analysis and search operations. The crackdown is part of the department's NUDGE campaign, which cross-checks tax returns against data from crypto exchanges and TDS filings to identify unreported virtual digital asset (VDA) transactions.

Coinbase expanded its presence in India in June by introducing direct Indian rupee (INR) deposits and withdrawals through bank transfers, making it easier for users to buy and sell cryptocurrencies. The rollout follows the exchange's registration with India's Financial Intelligence Unit (FIU-IND) and marks a renewed push into one of the world's fastest-growing crypto markets after its earlier operations were disrupted by regulatory hurdles.

Binance introduced stricter compliance measures for users in India in June, requiring additional information for crypto deposits and withdrawals as it aligned its operations with the country's anti-money laundering regulations. The move follows Binance's registration with India's Financial Intelligence Unit (FIU-IND) and reflects growing efforts by global crypto exchanges to comply with India's evolving regulatory framework.

The National Payments Corporation of India (NPCI) launched Drunix, a blockchain-based platform designed to support the development of tokenisation and distributed ledger technology (DLT) applications. The platform aims to provide developers, startups and financial institutions with a secure environment to build, test and deploy blockchain solutions, while supporting interoperability and regulatory compliance.

 UK & EUROPE

The UK's Financial Conduct Authority (FCA) unveiled its final crypto regulatory framework in June, easing proposed capital requirements for stablecoin issuers after industry feedback. Under the revised rules, non-systemic stablecoin issuers will be required to hold capital equal to 1% of the value of coins issued, down from the previously proposed 2%.

Coinbase's lobbying activities in the UK came under scrutiny in June following an investigation that detailed the crypto exchange's extensive engagement with ministers and senior government officials as the country finalised its crypto regulatory framework.

The European Union's Markets in Crypto-Assets (MiCA) regulation entered its final transition phase in June, paving the way for a single regulatory framework for crypto firms across the bloc from July 1. However, industry data showed that fewer than one in five of the more than 1,200 registered crypto companies had secured a MiCA licence by May, raising the prospect of hundreds of firms exiting the market or consolidating with licensed players.

Germany became the leading destination for crypto firms seeking licences under the European Union's Markets in Crypto-Assets (MiCA) framework ahead of the June 30 transition deadline. The country's financial regulator, BaFin, approved licences for several major crypto companies, including exchanges and custody providers, cementing Germany's position as a key gateway to the EU's single crypto market.

Binance said it would suspend crypto services in several European Union countries from July after failing to secure a licence under the bloc's Markets in Crypto-Assets (MiCA) framework before the regulatory deadline. The exchange withdrew its licence application in Greece ahead of the June 30 deadline and said it would pursue authorisation through another EU member state.

The European Parliament's Economic and Monetary Affairs (ECON) Committee approved its position on the proposed digital euro in June, moving the legislation a step closer to a vote by the full Parliament. The committee backed safeguards including privacy protections, offline payment functionality and limits on individual digital euro holdings to reduce risks to financial stability.

Europol and its international partners dismantled AudiA6, a cryptocurrency laundering service accused of processing more than €336 million in illicit funds between 2022 and 2025. Authorities said the platform acted as a key financial pipeline for ransomware groups and other cybercriminals, helping them launder stolen digital assets through fraudulent exchange accounts and money mule networks.

ASIA

The OECD said Asia recorded the world's fastest growth in crypto-asset transactions in 2025, driven by rising retail and institutional participation and the increasing use of stablecoins. In its Asia Capital Markets Report 2026, the organisation warned that deeper links between crypto markets and traditional finance could heighten risks related to financial stability, consumer protection, cyberattacks and illicit finance.

Japan's lower house passed a bill in June to bring cryptocurrencies under the Financial Instruments and Exchange Act (FIEA), marking one of the country's biggest crypto regulatory reforms. The proposal would classify digital assets as financial instruments, paving the way for crypto exchange-traded funds (ETFs), stricter disclosure and insider trading rules, and a lower 20% tax rate on eligible crypto gains.

Hong Kong said licensed stablecoins are expected to launch between mid-2026 and the second half of the year, following the approval of stablecoin issuance licences for two banking-related institutions in April. The government reiterated that stablecoins should be viewed as a blockchain-based payment instrument rather than an investment product and urged the public against speculative trading.

The Philippines' central bank said in June that Binance and its local partner were not authorised to operate in the country, reinforcing the government's crackdown on unlicensed crypto platforms. The central bank clarified that neither company holds the licences required to offer virtual asset services or payment-related activities, despite Binance's plans to expand its presence in the country through a local partnership.

Singapore's Monetary Authority of Singapore (MAS) added decentralised crypto trading platform Hyperliquid to its Investor Alert List in June, warning that the platform may have been perceived as providing regulated financial services without the required licence. While the alert does not amount to an allegation of wrongdoing, MAS urged investors to deal only with licensed providers.

Indonesia introduced new rules in June requiring social media influencers who promote cryptocurrencies and other digital financial assets to obtain competency certification. Under the new regulations, influencers can recommend only digital assets listed on authorised exchanges, while promotional campaigns must be conducted through licensed financial services firms, which will be responsible for ensuring compliance.

Taiwan passed its first comprehensive Virtual Asset Service Act in June, introducing a licensing regime for crypto businesses and a legal framework for stablecoin issuers. The law requires virtual asset service providers (VASPs) to obtain licences, while stablecoin issuers must maintain full reserve backing, undergo regular audits and keep reserve assets with domestic financial institutions.

OTHER REGIONS

The US Treasury's Office of Foreign Assets Control (OFAC) sanctioned four of Iran's largest cryptocurrency exchanges: Nobitex, Bit Pin, Wallex and Ramzinex in June, accusing them of helping the Iranian regime evade sanctions and finance illicit activities. According to media reports, the four exchanges processed about $7.7 billion in crypto transactions in 2025, accounting for nearly 78% of Iran's attributed crypto trading volume.

A Wall Street Journal investigation found that crypto exchange CoinEx has become a key channel for Iranian cryptocurrency transactions, with blockchain data showing that entities linked to Iran moved more than $3.84 billion through the platform since 2019.

Dubai is expected to attract more crypto firms as Europe's Markets in Crypto-Assets (MiCA) rules take full effect, prompting some companies to reassess where they base their operations. Industry executives say Dubai's clearer regulatory framework, faster licensing process and supportive approach to digital assets are making it an attractive destination for exchanges, trading firms and crypto startups.

Argentina exempted registered crypto exchanges from the country's "cheque tax" in June, giving virtual asset service providers (VASPs) the same tax treatment as traditional banks. The move, introduced by President Javier Milei, is aimed at encouraging the growth of the regulated crypto sector and improving access to digital asset services.

CORPORATE

Crypto exchange Kraken was named the Official Crypto Exchange Supporter of the FIFA World Cup 2026 across North America and Europe, marking one of the industry's highest-profile sports partnerships. As part of the deal, Kraken and FIFA will collaborate on fan engagement initiatives, including digital experiences and promotional campaigns during the tournament.

Italian fintech Hodli received regulatory approval under the European Union's Markets in Crypto-Assets (MiCA) framework to become Italy's first licensed crypto asset portfolio manager. The authorisation allows the Genoa-based company to offer professionally managed cryptocurrency investment portfolios, marking a milestone in the country's regulated digital asset market.

Japanese financial services group SBI Holdings agreed to acquire crypto exchange Bitbank for $289 million in June, a deal analysts say reflects a broader wave of consolidation in Japan's regulated crypto market. The acquisition will double SBI's crypto assets under custody to about ¥1.1 trillion and expand its customer base to nearly 2.9 million accounts.

Binance is exploring plans to offer stock trading services in Asia as it looks to diversify beyond cryptocurrencies amid a prolonged downturn in digital asset markets. The exchange is assessing partnerships with regulated financial institutions to provide users access to equities alongside crypto assets, according to a report.

Intercontinental Exchange (ICE), the owner of the New York Stock Exchange, and crypto exchange OKX formed a 50-50 joint venture in June to develop regulated digital asset infrastructure. Subject to regulatory approvals, the venture will operate as a U.S.-registered broker-dealer and futures commission merchant, enabling OKX users to access ICE's futures markets and tokenized NYSE-listed equities.

GLOBAL MARKETS

Bitcoin fell 20.5% in June, marking its worst monthly performance since 2022 and its weakest June in four years. The decline came as institutional demand weakened, with US spot Bitcoin ETFs recording six consecutive weeks of net outflows, while investors shifted capital towards AI-related stocks and high-profile IPOs.

FRAUDS

Losses from internet crime in the United States crossed $11 billion in 2025, driven by a sharp rise in AI-powered scams and cryptocurrency investment fraud, according to the FBI's annual Internet Crime Report. Criminals are increasingly using generative AI to create convincing fake identities, messages and videos to lure victims into fraudulent crypto investments and "pig butchering" schemes.

Crypto platforms lost $75.87 million to 40 hacking incidents in June, according to blockchain security firm PeckShield. While total losses fell about 7% from May, attackers continued to target decentralised finance (DeFi) protocols, bridges and platforms with compromised private keys. Humanity Protocol suffered the month's biggest breach, losing around $31 million.

The crypto industry recorded a record 207 hacking incidents in the first half of 2026, although total losses fell to $972 million, less than half the $2.3 billion stolen during the same period last year, according to blockchain intelligence firm TRM Labs. Smart contract exploits accounted for most attacks, while a handful of large infrastructure breaches caused the bulk of financial losses. North Korea-linked hackers remained the biggest threat, responsible for about 66% of all funds stolen during the six-month period.

South Korea's Personal Information Protection Commission (PIPC) fined crypto exchange Bithumb 210 million won (about $136,000) in June for transferring users' personal information to overseas exchanges without meeting the country's data protection requirements.