Key facts
- The EU's Markets in Crypto Assets (MiCA) framework's transitional period expires on July 1.
- Exchanges are competing for users after Binance failed to secure a license in Europe.
- Robinhood will hold a product reveal event on July 1.
- Securitize will begin trading on the NYSE on July 2 following a SPAC merger.
- Key U.S. macroeconomic data, including the June jobs report and ISM Manufacturing PMI, are due July 1-2.
The European Union's Markets in Crypto Assets (MiCA) framework's transitional period is set to expire on July 1, marking a significant regulatory shift for the cryptocurrency industry. This development comes as exchanges compete to attract users, particularly those previously served by Binance, which failed to obtain the necessary license in the region.
In addition to regulatory changes, the crypto space will see product reveals from Robinhood, with CEO Vlad Tenev and crypto general manager Johann Kerbrat scheduled to speak at an event titled “The World is Flat.” Tokenization firm Securitize is also slated to commence trading on the NYSE on July 2, following a SPAC merger.
On the macroeconomic front, investors are anticipating a busy week of U.S. data releases. Key reports include the JOLTs Job Openings for May, ADP Employment Change for June, and the crucial nonfarm payrolls and unemployment rate for June. Manufacturing sentiment will be gauged by the ISM Manufacturing PMI. Inflation data for the Eurozone is also expected.
Several token-related governance events are scheduled. Aave DAO is voting on an upgrade to its Pendle PT risk oracle stack. Arbitrum (ARB) DAO is considering a proposal to narrow its gaming ventures and return surplus capital. GHST is facing a vote on transferring protocol intellectual property to the AavegotchiDAO Foundation, while Redbelly Network (RBNT) is voting on temporarily suspending DAO operations.
Token unlocks are also on the horizon, with EigenCloud (EIGEN) and M set to release portions of their circulating supply. The week also includes industry events such as the Global Blockchain Show in Riyadh and Stablecoins Unblocked in London.