Kraken Debuts US Perpetuals as MiCA Deadline Imperils 80% of Crypto Firms

Crypto News

NFT project Pudgy Penguins confirmed it will wind down its mobile game Pudgy Party and halt further development, redirecting resources toward its browser-based title Pudgy World. The announcement, dated June 12, was made through the game’s official account. Pudgy Party had climbed to the top of the App Store and surpassed one million downloads since its August 29, 2025 global launch, co-developed with Mythical Games. The team said Pudgy World — a free, no-download experience offering avatar customization, story quests, fishing and mini-games — delivers superior scalability and storytelling, positioning it as the core product of the franchise’s gaming strategy going forward.

Hokuriku Bank, a unit of Hokuhoku Financial Group, and DeCurret DCP signed a basic agreement to commercialize a payment business built on the DCJPY digital currency, the companies announced June 16. Targeting a service launch during fiscal 2027, the pair will use the DCJPY Network to modernize payment infrastructure and advance regional digital transformation. DCJPY is a yen-denominated tokenized deposit — distinct from conventional crypto assets like algorithmic stablecoins or stablecoin-native chains such as Arc — that digitizes bank deposits on blockchain rails. Planned use cases span B2B settlement, tokenized payroll and regional currencies, alongside API integration with the bank’s core systems.

The European Union’s Markets in Crypto-Assets framework reaches a pivotal threshold on July 1, 2026, when its transition period expires. After that date, firms lacking a CASP authorization must halt services to EU-based users. Industry tallies indicate more than 1,200 crypto-asset service providers were registered across member states before MiCA, yet only roughly 210 had secured compliant CASP licenses by May 2026 — implying over 80% remain unauthorized. The European Securities and Markets Authority has urged an orderly wind-down for non-compliant operators and advised investors to verify licensing. Analysts expect accelerated consolidation, relocation and market exits across the bloc.

Crypto exchange Kraken began offering CFTC-regulated perpetual futures to US customers on June 15, the company confirmed. Available through Kraken Pro, the contracts settle on Bitnomial — a CFTC-regulated derivatives venue acquired by parent Payward — and clear via NinjaTrader Clearing. Launch coverage spans major altcoins including ETH, SOL, XRP, ADA, LINK, DOGE, LTC and AVAX alongside Bitcoin. Perpetuals carry no expiry and use funding rates to track spot prices; Kraken says the product recorded more than $60 trillion in 2025 volume. The move follows the CFTC’s May policy statement, bringing onshore a market long dominated by offshore venues.

The Bank of Ghana issued a supervisory directive on June 12 ordering regulated financial institutions to immediately cease support for unlicensed foreign-currency fiat wallet services offered by crypto platforms. Several platforms operating locally had provided mainly US dollar-denominated wallets, relying on bank transfers, payment cards and other domestic channels backed by regulated institutions. The central bank determined such arrangements require formal authorization under the 2019 Payment Systems and Services Act and the 2006 Foreign Exchange Act, deeming the supporting banking infrastructure unlawful. Violations may trigger immediate supervisory or enforcement action, the regulator warned, signaling a firmer stance on unregulated dollar access.

Asteria unveiled wallet guidance on June 16 for JPYC Gateway, its enterprise service for managing deposits and withdrawals of the yen-pegged stablecoin JPYC. The firm designated Fireblocks’ Dynamic as the standard crypto wallet configurable within the platform, while certifying Openloop, Fireblocks, HashPort Wallet, MetaMask and N Suite as approved options after connectivity testing. JPYC Gateway aims to simplify complex blockchain operations into online-banking-like workflows, with Asteria covering gas fees so companies need not hold crypto directly. The initiative targets enterprise pain points around accounting, audit readiness and private-key management when handling stablecoins in practice.

These six developments trace a single arc: crypto is migrating from speculative experimentation toward regulated, enterprise-grade infrastructure. From Kraken’s onshore perpetuals and MiCA’s licensing reckoning to tokenized-deposit pilots in Japan and Ghana’s wallet crackdown, compliance is becoming the dominant competitive variable. COINOTAG’s aggregate market data underscores the cautious backdrop: the Fear & Greed Index sits at 23, deep in extreme-fear territory, while Bitcoin dominance holds at 69.6% and total market capitalization stands near $1.92 trillion. With sentiment firmly in bear-market psychology, capital is rotating toward regulated rails and established assets, suggesting the next growth phase will hinge on infrastructure and oversight rather than retail froth.