French Authorities Shield Crypto Execs After Kidnapping Spree
Legal
“Authorities in France are trying to reassure jittery digital-asset executives and investors, as a spate of kidnappings and attempted abductions threatens to upend the country’s crypto hub ambitions. A police motorcade escorted Paris Blockchain Week guests to a VIP dinner in the Palace of Versailles on Tuesday, while the conference’s organizers doubled security around the two-day event. In a speech on Tuesday, Jean-Didier Berger, minister delegate to the French interior minister, said the ministry is preparing a new package of measures to protect cryptoasset holders. 'The security put in place for this event made a strong impression on many of you,' Berger added on stage at the conference on Thursday. 'It demonstrates the determination of the government and of France to support you, assist you, and protect you in all circumstances.'”
Source: Bloomberg
UK FCA Seeks Fresh Feedback on Crypto Rules Ahead of October 2027 Rollout
Regulation
“The UK's financial regulator, the Financial Conduct Authority, is seeking views on its interpretation of certain regulated digital asset activities in the latest consultation under its crypto roadmap. Specifically, the FCA is seeking input from individuals, firms, industry groups, policymakers, and academics on how activities such as stablecoin issuance, trading platforms, custody, and staking fall within the regulatory perimeter, according to a Wednesday release. The consultation closes on June 3, 2026, and crypto firms will be able to start applying for FCA authorization from Sept. 30, 2026. The publication marks another step toward a full UK crypto regulatory regime following the introduction of the Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026 in February to bring new crypto asset activities under the FCA's regulatory remit. ”
Source: The Block
Hacked Crypto Platform to Relaunch After Securing New Funding
DeFi
“Decentralized finance platform Drift Protocol, the victim of an exploit earlier this month where hackers stole approximately $285 million of users’ cryptocurrency, plans to relaunch after securing around $150 million in funding from a consortium led by stablecoin issuer Tether Holdings SA. As part of the agreement, the derivatives exchange will use Tether’s USDT token to finalize transactions at the so-called settlement layer, the companies said Thursday. Drift has previously used the USDC token issued by Circle Internet Group Inc. The firms didn’t specify when the Solana-based blockchain protocol would relaunch.”
Source: Bloomberg
Charles Schwab Begins Rollout of Spot Bitcoin, Ethereum Trading Platform
Adoption
“Brokerage and banking stalwart Charles Schwab is modernizing its offerings, beginning a rollout of its planned crypto trading platform and giving retail clients access to bitcoin and ethereum for the first time. The new offering, simply called Schwab Crypto, will be introduced in phases over the coming weeks, confirming a previously stated timeline for a second-quarter launch following a waitlist phase earlier this month. At launch, clients will be able to trade bitcoin and ethereum through dedicated crypto accounts linked to their traditional Schwab brokerage accounts. Access to spot trading is a big step up from Schwab's previous offerings of indirect crypto exposure via exchange-traded funds and derivatives.”
Source: The Block
South Korea to Test Blockchain Deposit Tokens For Government Spending in Q4
Tokenization
“South Korea’s Ministry of Economy and Finance will begin testing blockchain-based deposit tokens for government spending in the fourth quarter as part of a broader push to modernize how public funds are managed. The ministry said the pilot to spend Treasury funds as digital currency was approved under a 2026 regulatory sandbox program, local media reported. The approval allows business promotion expenses, currently processed with government purchasing cards, to be paid using tokenized deposits. The change alters a long-standing system governed by the Treasury Funds Management Act, which required card-based payments. In the sandbox environment, agencies will be able to operate outside those rules on a limited basis to test new methods.”
Source: CoinDesk
