• French regulator calls for global coordination on “same risk, same regulation” policy for DeFi
• Altcoin ETPs see inflows amid ETH, BTC outflows as alts recover
• Terra’s Do Kwon sentenced to four months’ imprisonment in Montenegro

French Regulator Calls for Global Coordination

The French regulator has called for global coordination on a “same risk, same regulation” policy for DeFi. This would establish consistent regulations across the world and help protect investors from risks associated with decentralized finance projects.

Altcoin ETPs See Inflows Amid ETH and BTC Outflows

Investor sentiment appears to be shifting towards altcoins, as altcoin exchange traded products (ETPs) have seen inflows amid Ethereum (ETH) and Bitcoin (BTC) outflows. For the week ending June 19th, altcoins like XRP, Cardano, and Polygon garnered inflows of $1 million, $0.6 million, and $0.2 million respectively.

Terra’s Do Kwon Sentenced to Four Months‘ Imprisonment in Montenegro

Do Kwon of Terra was recently sentenced to four months‘ imprisonment in Montenegro after being found guilty of fraud and money laundering charges related to the creation of a fraudulent investment scheme. Kwon had allegedly promised investors a high rate of return on their investments but failed to deliver on his promise after raising over $30 million from unsuspecting investors.

Coinbase Criticizes SEC for Dodging its Rule-Making Petition

Coinbase recently criticized the Securities and Exchange Commission (SEC) for dodging its rule-making petition by refusing to consider it at this time without providing any explanation as to why it is not taking action now. The petition was filed back in December 2020 with the goal of changing certain aspects of existing SEC rules which Coinbase believes are outdated or overly restrictive when applied to digital assets.

Binance’s UK Subsidiary Withdraws FCA Registration as European Exodus Continues

Binance’s UK subsidiary Binance UK has withdrawn its Financial Conduct Authority (FCA) registration due to uncertainties surrounding Brexit negotiations between the EU and UK governments. This decision comes amidst a larger trend of cryptocurrency exchanges withdrawing their FCA registrations due to regulatory uncertainty caused by Brexit negotiations which could lead to stricter regulations in Europe than currently exist elsewhere around the world.