BitGo launches MiCA service; Congress backs CBDC ban

BitGo launched BitGo Europe on Wednesday, a crypto-as-a-service platform meant to provide regulated custody and infrastructure for firms seeking authorization under the EU’s Markets in Crypto-Assets Regulation before the July 1 deadline.

The platform offers custody and operational support so exchanges and service providers can continue operating while they pursue MiCA authorization. Mike Belshe, BitGo’s chief executive, wrote in a statement that the service can help firms remain active during licensing delays: “We can help keep you moving safely and compliantly.”

MiCA requires firms that offer crypto-asset services, including custody and trading, to obtain authorization or operate through authorized entities by July 1. Some large exchanges face uncertainty over their license applications as national regulators review submissions.

In Washington, House and Senate leaders released an updated version of the 21st Century Road to Housing Act that retains a clause preventing the Federal Reserve from issuing or creating a central bank digital currency, or any digital asset substantially similar to one, until Dec. 31, 2030. The House passed its version of the bill in May, and Republican leaders plan a vote after Congress returns from recess on June 23.

The clause bars the Fed from issuing a CBDC directly or indirectly during that period. In January 2025, the president issued an executive order restricting federal agencies from work related to CBDCs.

Political filings with the Federal Election Commission show Defend American Jobs, a political action committee affiliated with cryptocurrency company Fairshake, spent more than $4.7 million on media and advertising to support Republican Barry Moore in an Alabama Senate primary runoff, on top of roughly $7.4 million the PAC reported spending before the May 20 primary. The filings put the PAC’s total reported spending on Moore’s campaign at more than $12 million.

The PAC also reported planned media buys of about $5 million for Adrian Boafo in Maryland and about $500,000 for Ritchie Torres in New York. The group previously spent on primary races in Texas and California.

European crypto firms face an approaching authorization deadline under MiCA; U.S. lawmakers are advancing legislation that would bar the Fed from issuing a CBDC until the end of 2030; and crypto-aligned political groups have reported multimillion-dollar ad spending in recent U.S. primary contests and runoffs.