Cryptocurrencies

Bitcoin-backed life insurance now available in Russia

Two major Russian insurers, Renaissance Life and BCS Life Insurance, have introduced investment life insurance policies (ILIPs) tied to Bitcoin. These products give wealthy investors exposure to Bitcoin via BlackRock’s IBIT, without needing to hold the asset directly.

Renaissance Life’s ‘Cryptocapital’ policy has a two-year term, a minimum investment of 1.5 million rubles (about $19,000), and offers full capital protection. If Bitcoin prices surge, investors could earn up to 2.4 million rubles in pre-tax gains.

BCS Life offers a similar policy with a three-year duration and a higher entry threshold of 3 million rubles, adding flexibility through portfolio rebalancing.

Both policies use Bitcoin futures contracts traded on the Moscow Exchange, marking a shift towards regulated, crypto-linked financial products. The offerings target affluent clients seeking Bitcoin exposure with capital protection.

The launch reflects a broader trend of integrating Bitcoin into mainstream financial instruments, especially following Bitcoin’s rise past $100,000 and greater regulatory clarity. Other firms like Meanwhile Insurance have also introduced crypto-based insurance solutions in response to global demand.

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Ripple partners with AMINA Bank to expand in Europe

Ripple has partnered with Swiss-based AMINA Bank, regulated by FINMA, to offer custody and trading of its RLUSD stablecoin, establishing a compliant presence in Europe.

RLUSD has already secured approval from major regulators, including the New York Department of Financial Services and the Dubai Financial Services Authority.

Ripple is integrating the asset into its recently acquired prime brokerage platform, Hidden Road. It is also using RLUSD across the Ripple Payments platform for enterprise cross-border transactions.

AMINA cited Ripple’s transparent structure and regulatory commitment as key factors in the partnership. The bank, formerly SEBA Bank, has been a leader in regulated digital asset services since 2019. Its collaboration with Taurus, a Deutsche Bank-backed firm, further strengthens its position in digital finance.

Ripple is positioning RLUSD as a compliant alternative within Europe’s evolving regulatory landscape under MiCA. The Swiss partnership supports RLUSD’s long-term growth by offering legal clarity, regulated access, and a path toward broader liquidity across the continent.

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India’s top darknet dealer laundered crypto with Monero for two years

India’s Narcotics Control Bureau (NCB) has arrested a 35-year-old engineer from Kerala accused of running the country’s largest darknet drug network alone. The suspect, ‘Ketamelon,’ reportedly ran a Level 4 darknet drug operation for two years without his family knowing.

Authorities seized more than 1,100 LSD blots, over 130 grams of ketamine, and cryptocurrency assets valued at over $82,000 during the four-month investigation. The drugs were reportedly sourced from international suppliers, including a UK-based vendor believed to be the world’s largest LSD supplier.

Shipments reached cities such as Bengaluru, Chennai, Delhi, and Himachal Pradesh.

The suspect laundered proceeds using Monero, a privacy-focused cryptocurrency designed to hide transaction details, making it popular among darknet criminals.

While privacy coins like Monero offer enhanced anonymity, experts warn they are not entirely untraceable, as blockchain ledgers permanently record all transactions.

The operation comes amid wider global efforts targeting cybercrime and crypto-facilitated illegal markets.

Recently, the US Treasury sanctioned a Russian hosting provider linked to ransomware and darknet drug sales, highlighting increasing international pressure on digital criminal networks.

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Crypto spending in Europe is rising with stablecoins leading

Crypto is gaining traction as a go-to payment method across Europe, with stablecoins playing a leading role. According to a June report from Oobit, more than 75% of crypto purchases made by European users over the past month were settled using stablecoins.

Retail and travel dominate the spending landscape. In countries like Germany, Spain, and Poland, crypto is most commonly used for food, drink, and other retail items. Meanwhile, travel expenses top the list in France, Italy, Greece, and Ireland.

Notably, over half of all crypto transactions were related to everyday shopping, with Poland alone making up a third of those purchases.

Poland, Lithuania, and Estonia are at the forefront of stablecoin adoption. Poland led the region, with over 30% of Oobit’s retail crypto transactions occurring there—most settled in USDC.

Lithuania also showed strong growth, particularly in euro-backed EURR transactions, which have doubled recently. Supportive regulation across these nations, including MiCA-compliant laws, is encouraging the trend.

The findings reflect a wider transition in how crypto is used. Instead of serving purely as an investment, digital currencies are increasingly woven into daily financial activities, showing their value in practical, real-world scenarios.

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Brazil sets flat 17.5 percent tax on all crypto gains

Brazil has implemented a significant shift in its approach to digital assets with a new crypto tax law taking effect on 12 June 2025. Under Provisional Measure 1303, a flat 17.5% tax now applies to all cryptocurrency gains, replacing the former progressive regime.

The previous exemption for monthly gains under 35,000 reais has been abolished, placing new pressure on small and casual traders.

The law’s reach is extensive, applying not only to traditional crypto trades but also to decentralised finance (DeFi), NFT transactions, staking rewards, and offshore wallets. Gains are now reported quarterly, with losses deductible over the past five quarters — a period that shortens in 2026.

Smaller investors are the most brutal hit, now fully taxed on previously exempt profits. Meanwhile, high-net-worth individuals could benefit, as gains that once faced a 22.5% rate are now capped at 17.5%.

The reform forms part of Brazil’s 2025 tax overhaul to expand the fiscal base amid record tax levels. Crypto may further integrate into Brazil’s economy, with payroll in digital assets under review and stricter monitoring ahead.

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Sparkassen to offer crypto trading in Germany by 2026

Germany’s largest banking group, Sparkassen, plans to offer cryptocurrency trading services to retail customers by the summer of 2026. The decision reverses Sparkassen’s 2023 stance, when it called digital assets ‘highly speculative’ and avoided crypto products.

Sparkassen’s crypto offering will be powered by its subsidiary Dekabank, which already holds a licence from Germany’s financial regulator BaFin. The new platform will let customers trade major tokens like Bitcoin and Ethereum, expanding beyond institutional services.

The move follows the introduction of the EU’s MiCA framework, which has provided banks across Europe with legal clarity to pursue crypto services. Demand for regulated digital asset access has already been seen through products like Börse Stuttgart’s Bison app and similar banking initiatives.

Although interest continues to grow, German regulators remain cautious. The country’s financial watchdog received over 8,700 suspicious activity reports related to crypto in 2024—its highest figure to date.

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Kurant pauses Bitcoin ATM operations in Germany

Kurant, Europe’s leading Bitcoin ATM installer, will temporarily halt its services across Germany from 1 July. The Austrian company is awaiting a new licence under the EU’s Markets in Crypto Assets (MiCA) regulations.

Over half of its 300-plus machines operate in Germany, meaning most Bitcoin ATMs in the country will be out of service during this pause.

Transactions initiated before the halt will be completed as usual, but no new purchases or sales of cryptocurrencies will be possible until the licensing process is finalised. Kurant described the break as a responsible step to prepare for significant technical and legal changes required by the new EU rules.

No exact timeline for resumption was given, though customers will receive updates.

Operations in other European countries, including Austria and Spain, will continue unaffected. Europe’s Bitcoin ATM network is growing steadily but remains much smaller than the United States, which leads globally with over 30,000 machines.

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Police investigate rising crypto-related crimes in Russia

Police in St. Petersburg have dismantled an illegal crypto mining farm operating near Mitrofanievsky Highway. The facility caused around 10 million rubles ($127,873) in damage to the city’s power grid.

Dozens of mining rigs and tampered meters were seized from the unmanned warehouse.

Authorities believe the farm spanned several hundred square metres and was powered through a nearby substation. A manhunt is under way for those responsible.

Meanwhile, the Ministry of Internal Affairs has warned of a new scam using foreign call centres. Fraudsters pose as trading experts and convince victims to invest in crypto after fake training sessions.

Once trust is gained, scammers take control of victims’ accounts and transfer funds to their own wallets. The warning follows the sentencing of influencer Valeria Fedyakina, known as Bitmama, for a $21 million crypto fraud.

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Arizona governor vetoes Bitcoin reserve bill

Governor Katie Hobbs of Arizona has vetoed a bill that aimed to establish a state-managed Bitcoin reserve using cryptocurrencies seized from criminal activities. The bill passed the Arizona House but was vetoed over concerns it would discourage local law enforcement from cooperating on digital asset forfeiture.

It marks Hobbs’ third veto on Bitcoin-related legislation. Earlier this year, she vetoed bills letting state funds invest in Bitcoin and allowing agencies to accept crypto for fines and taxes.

Hobbs has consistently expressed caution due to the volatility of cryptocurrency markets, stating that such fluctuations make it unwise to allocate general fund dollars to crypto.

Despite her vetoes, Hobbs did approve legislation permitting the state to hold unclaimed cryptocurrencies in their native form rather than converting them to cash. While states like Texas and New Hampshire have embraced Bitcoin reserves, Arizona continues to exercise strict oversight.

Experts suggest future governors may take a different approach, potentially opening the door to more crypto-friendly policies.

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Senate passes Trump bill without crypto tax breaks

The US Senate approved President Trump’s large reconciliation bill, but key crypto tax exemptions were excluded. Pro-crypto senators, led by Cynthia Lummis, tried to add amendments offering tax relief for miners, stakers, and retail users, but ran out of time.

The proposed changes would have taxed staking and mining rewards only upon sale. They also included allowing mark-to-market accounting for unrealised gains and introducing a de minimis exemption for small transactions.

Industry leaders called the omission a missed opportunity. Senator Lummis remains optimistic, saying discussions with Senate Finance Committee members will continue to address crypto tax issues in future legislation.

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