
From 'what' to 'how': Robinhood and Bitstamp say banks are ready to build on-chain
Wall Street is embracing blockchain, moving from theory to action.

The transition period for Europe's Markets in Crypto-Assets regulation ends on July 1, 2026, marking a shift to direct regulatory enforcement for crypto-asset service providers. Companies must now prove best execution for trades, requiring robust systems to track market data and execution conditions.
The transition period for Europe's Markets in Crypto-Assets regulation, or MiCA, officially ends on July 1, 2026. This date signifies the transition from preparation to direct regulatory enforcement for crypto-asset service providers operating within the EU.
Up until now, many businesses considered compliance to be a documentation process. In July, that will be totally different. Similar to the requirements already in place in traditional finance, MiCA now requires cryptocurrency companies to demonstrate that they offer best execution for customer trades.
Vague internal policies and generalizations about the quality of execution will no longer be accepted by regulators. Businesses will require concrete proof that each trade was executed under the best possible market conditions at that precise moment.
The complexity stems from the actual workings of cryptocurrency markets. In contrast to conventional stock exchanges, cryptocurrency trading is dispersed across over 100 venues that are open 24/7. No central pricing source or unified tape exists. The same asset may trade simultaneously at various prices on several exchanges. Because firms are limited to using compliant venues, MiCA further restricts the available liquidity pool.
This leads to a significant infrastructure issue. Businesses now require systems that can record market data at the tick level, reconstruct execution conditions years later, and explain to regulators why a trade occurred on one venue rather than another. The regulations stipulate that this data must be available for a minimum of five years.
The market is changing in multiple ways for regular cryptocurrency users.
July 1, 2026, marks the end of the transition period for MiCA, transitioning to direct regulatory enforcement for crypto-asset service providers in the EU.
MiCA will require cryptocurrency businesses to provide concrete proof of best execution for trades, moving beyond vague internal policies.
Companies must develop systems to record detailed market data and execution conditions, as regulators will require this information to be accessible for at least five years.

Wall Street is embracing blockchain, moving from theory to action.

Strategy Inc. reported a $12.54 billion net loss for Q1 2026, largely due to a $14.46 billion unrealized loss on Bitcoin holdings. The company is considering selling Bitcoin to strengthen its financial position, marking a significant shift from its previous stance of never selling.

Multicoin Capital has made a significant investment in Zcash, highlighting the importance of privacy in digital finance.

Toncoin jumps 60% to $2.215 after Durov's comments on decentralization.

Cardano's van Rossem hard fork submitted to preview test network, paving the way for mainnet launch.

Bitcoin moves above $82,000 as ZEC and DASH see significant gains.
See every story in Crypto — including breaking news and analysis.
Although trading may become safer and more transparent, it may also become more regulated, slower to innovate, and more reliant on sizable compliant platforms that have the means to satisfy MiCA's requirements.