Odaily Planet Daily reports that while the race for the EU's Crypto Asset Market Regulation Act (MiCA) is ending, the real challenges for companies are just beginning. The high costs of maintaining a compliant system could reshape the European crypto industry landscape. Future competition may shift from "who can obtain a license" to "who can afford the regulatory costs," driving companies to scale through mergers, joint ventures, or partnerships with banks. With MiCA gradually taking effect and the UK's crypto regulatory framework nearing completion, the European crypto industry is entering a new phase of consolidation. Industry insiders believe that high-standard regulatory requirements may drive a new wave of mergers and acquisitions, and cooperation between crypto-native companies and traditional financial institutions will deepen further. This trend may be even more pronounced in the UK market. The UK Financial Conduct Authority (FCA) is developing a new crypto asset regulatory framework, which is expected to integrate crypto businesses into the existing financial services regulatory system, subjecting them to similar capital, operational, and client asset protection requirements as traditional investment institutions. Steven Lightstone, Partner and Co-Head of Global Fintech at Morgan Lewis' London office, stated that the FCA aims to promote market competition and support new entrants, but its regulatory standards will be very stringent when it comes to consumer protection. Unlike the EU's independently operating MiCA framework, the UK plan will directly utilize the existing financial regulatory system to manage crypto companies. Meanwhile, increased regulatory certainty is driving European banks to accelerate their entry into the digital asset space. Simon Schneider, CEO of Sygnum Europe, stated that currently less than 20% of banks in Europe offer crypto-related services, leaving a significant market gap. The greatest value of MiCA is not merely creating a new licensing system, but providing legal certainty for financial institutions entering the digital asset market. He cited Switzerland as an example, pointing out that after the introduction of distributed ledger technology regulations, most large Swiss banks have begun offering digital asset services, and other parts of Europe may replicate this path in the future. In the future, banks may not necessarily replace native crypto companies, but are more likely to rely on specialized infrastructure service providers to collaborate in areas such as custody, brokerage, staking, and asset tokenization. As companies that fail to obtain MiCA licenses gradually exit the European market, assets may further concentrate in regulated sectors. However, Schneider believes that self-custody and institutional custody models will coexist for a long time. Industry insiders believe that the European crypto industry is entering a "regulation-driven consolidation cycle." For crypto startups that have previously relied on rapid innovation and a light-asset model, the core competitiveness in the future may no longer be just technological speed, but rather compliance capabilities, capital scale, and the ability to integrate financial infrastructure. (CoinDesk)

According to Odaily Planet Daily, citing reports from Al Arabiya and Saudi media Hadas, the United States and Iran have responded to the proposals from Pakistan and Qatar to resume negotiations. (Jinshi)

According to Al Jazeera, Iranian military spokesman Mohammad Akraminia told state media that Iran's operations have been suspended as the United States has ceased retaliatory attacks over the past two nights. (Jin Shi)