Bitcoin Holds Near $64K as EU MiCA Deadline Looms and Kalshi Eyes IPO at $22B

Crypto News Metaplanet shares remain under sustained pressure, trading near 235 yen versus roughly 1,800 yen a year ago, when the stock sat near its all-time high. Its mNAV has slipped to 0.88, below the 0.9 mark that signals the stock is valued at a discount to its Bitcoin holdings. The metric divides enterprise value by the net asset value of held BTC; readings under 1.0 mean the market no longer pays a premium for the leveraged-Bitcoin model. Yet the firm's agreement to acquire Siiibo Securities, struck a day after Japan's lower house voted to move crypto under the Financial Instruments and Exchange Act, is viewed as a potential turning point toward a Bitcoin-centric financial ecosystem. The European Union's Markets in Crypto-Assets framework reaches its July 1 transition deadline, and the industry remains far from compliant. Research indicates only 194 of more than 3,000 crypto firms operating in Europe — about 6.5% — have secured a license, while roughly 60% of users still rely on unlicensed platforms. Binance's Greece-centered passporting strategy faces rejection, and Tether's Paolo Ardoino has declined to seek authorization, objecting to reserve rules governing fiat-backed and algorithmic stablecoins. As a result, Binance, Coinbase and Kraken have curbed USDT for EU customers, leaving Circle's USDC as the only major MiCA-compliant dollar stablecoin widely available across the bloc. Prediction-market operator Kalshi has opened preliminary talks with investment banks about a future initial public offering, according to people familiar with the matter. The platform's annualized revenue has surpassed $2 billion, and the IPO discussions follow a Series F round in May that raised $1 billion at a $22 billion valuation, led by Coatue with participation from Sequoia, Andreessen Horowitz, Paradigm and others. Kalshi now stands alongside rival Polymarket as a dominant force in event contracts. The rapid expansion has drawn heavier political and regulatory scrutiny, including a Kentucky lawsuit alleging the firm ran unlicensed sports-betting operations within the state. Regulatory friction is intensifying in the United States. CME Group chief executive Terrence Duffy confirmed plans to sue the Commodity Futures Trading Commission over its May 29 approval of Kalshi's Bitcoin perpetual futures, arguing the product qualifies as a swap under the Dodd-Frank Act and was wrongly cleared as a futures contract. Separately, G7 leaders meeting in Évian issued a joint statement on June 17 pledging coordinated action against North Korean crypto theft and cyber-crime, framing the threat alongside Pyongyang's weapons program. A former Ethereum Foundation member also warned that core development funding could run dry within three to nine months, raising questions over the network's long-term resourcing. Gambling regulators from nine European countries — including Belgium, France, Spain, Germany and non-EU Switzerland — agreed on June 17 to jointly confront prediction-market platforms that operate without local authorization. Timed to the World Cup, the declaration urges compliance with advertising, integrity and consumer-protection rules and asks sports bodies to verify operator legality before signing sponsorships. Spain has already opened proceedings against Kalshi and Polymarket and provisionally blocked their sites. Authorities cited addiction risks from round-the-clock access without deposit caps or robust age verification, signaling mounting licensing pressure as event-contract platforms push aggressively into sports markets ahead of the tournament. Exchange BTCC has rolled out a sweeping zero-fee push spanning deposits, spot trading and traditional-finance futures, aiming to lower entry barriers for retail traders. The platform is waiving deposit costs for card and fiat funding and offering 100% spot-fee cashback of up to 2,000 USDT across BTC, ETH, XRP, SOL and DOGE for users trading at least 50 USDT. A separate zero-fee futures campaign covers DOGE, PEPE, SHIBA and more than 20 popular altcoins, while its TradFi program, launched June 1, eliminates fees on metals, energy, global equity indices and major FX pairs. Across these developments runs a single thread: regulation and capital discipline are reshaping crypto faster than price action. COINOTAG's aggregate market data underscores the caution — our Fear & Greed Index sits at 23, deep in Extreme Fear, while Bitcoin dominance has climbed to 70% and total market capitalization stands near $1.84 trillion, with Bitcoin trading around $64,000. That defensive posture, with capital concentrating in Bitcoin amid a broad bear-market tone, mirrors the squeeze on leveraged treasury models like Metaplanet and the licensing reckoning facing exchanges and stablecoin issuers. The MiCA deadline and U.S. courtroom battles, grounded in official filings and regulators' own statements, suggest compliance — not speculation — now sets the pace.COINOTAG does not provide financial advisory services. This content is for informational purposes only and should not be considered investment advice. Cryptocurrency investments involve high risk.