Zerohash Europe, a crypto infrastructure provider, has secured an electronic money institution (EMI) license from the Dutch Central Bank (DNB), according to CoinDesk. The firm said Monday it is the first company in Europe to be authorized under the EU's Markets in Crypto-Assets Regulation (MiCAR) while also holding full EMI status. Zerohash received its MiCAR license from the Dutch Authority for the Financial Markets (AFM) in October 2025. MiCAR, set to fully take effect in July, establishes EU-wide rules for major crypto activities including token custody, issuance and trading. While MiCAR registration functions as an operating permit for crypto-asset service providers (CASPs) on trading platforms, the European Banking Authority has argued that "certain electronic money tokens"—stablecoins—are treated as "electronic money" under existing directives and may require additional oversight. The authority issued a letter of non-action in June 2025 and, in February, clarified that companies facilitating "stablecoin-driven financial flows" should obtain EMI licensing to better integrate stablecoins into the traditional financial system. With both MiCAR and EMI approvals, Zerohash can now provide crypto-asset services and traditional electronic money transactions across the European Economic Area. The company said the framework enables it to partner directly with banks, broker-dealers, fintech companies, payment service providers and enterprise platforms operating in Europe. Roland Goldberg, General Manager of Zerohash Europe, said Europe represents a large market for stablecoin use cases and that the firm has seen strong regional growth. He added that Zerohash has expanded its EU operations in Amsterdam in recent months and is providing technical support to partners including Interactive Brokers Europe. Zerohash has also applied to the U.S. Office of the Comptroller of the Currency for a national trust bank charter. Founded in 2017, the company has about 200 employees worldwide and offices in New York, Chicago, North Carolina and Amsterdam. In September last year, it raised $104 million in a Series D round led by Interactive Brokers, valuing it at $1 billion. After earlier acquisition talks—Zerohash was previously reported to be a Mastercard acquisition target—fell apart, the company is said to be in discussions to raise an additional $250 million at a $1.5 billion valuation.

Minnesota Governor Tim Walz (@GovTimWalz) has signed HF 3709 into law, allowing state-chartered banks and credit unions to offer virtual-currency custody services starting Aug. 1. Participation is optional, but institutions must provide the Minnesota Department of Commerce with 60 days’ written notice before launching the service. The statute permits the safekeeping and administration of digital assets in fiduciary, custodial, or nonfiduciary roles. It does not authorize banks to trade, invest, or lend the assets. The bill passed with broad bipartisan support, including a 119"6 vote in the House. Separately, Minnesota enacted a statewide ban on crypto ATMs the same week, citing scams targeting seniors. Operators have been directed to wind down by Aug. 1.

Zerohash Europe has obtained an Electronic Money Institution (EMI) license from the Dutch Central Bank, making it the first firm to hold both an EU MiCA crypto license and full EMI authorization. The company received its MiCA license from the Dutch Authority for the Financial Markets in October 2025, allowing it to provide crypto-asset services across the EU. With the new EMI approval, Zerohash can also support traditional electronic money transactions, strengthening its ability to serve stablecoin payment and settlement needs. The European Banking Authority has previously noted that certain stablecoin-related cash flows may fall under electronic money activities and require EMI licensing. Zerohash said the dual-licensing structure positions it to offer compliant infrastructure to banks, broker-dealers, fintech companies, payment service providers, and enterprise platforms across Europe.

The U.S. Securities and Exchange Commission is preparing a regulatory framework that could allow the trading of tokenized versions of stocks and other securities, Bloomberg reported.

Minnesota Gov. Tim Walz (\u0022@GovTimWalz\u0022) has signed HF 3709 into law, allowing Minnesota state-chartered banks and credit unions to offer virtual-currency custody services beginning Aug. 1. Participation is optional, but institutions must provide the state Department of Commerce with 60 days\u0027 written notice before launching custody offerings. The measure permits the safekeeping and administration of digital assets in fiduciary, custodial, or nonfiduciary roles, but it does not authorize banks to trade, invest, or lend those assets. The bill cleared the legislature with broad bipartisan support, passing the House 130\u00274. In the same week, Minnesota enacted a separate law banning crypto ATMs statewide following reports of scams targeting seniors, directing operators to wind down operations by Aug. 1.

Electric Solidus, Inc., which operates as Swan Bitcoin, has been named as a defendant in a newly filed case in the Delaware Bankruptcy Court that seeks to claw back nearly $1 billion in cryptocurrency tied to Prime Trust's 2023 collapse, according to CoinDesk. The complaint was brought by the PCT Litigation Trust, an entity created to distribute assets connected to Prime Core Technologies and to pursue litigation. It alleges Swan avoided major losses by using "unparalleled insider information" to move both fiat and crypto out of Prime Trust before the firm was forced to shut down and later enter bankruptcy proceedings. The lawsuit, first reported by Blockspace, claims Swan transferred assets worth close to $1 billion at current prices, including 11,992 bitcoins now valued at about $917 million, which the filing says should be treated as property of Prime's debtors. Prime Trust was ordered to cease operations by Nevada regulators in June 2023 after the firm was found to be insolvent and unable to serve customers, with a trustee taking control. In August 2023, the trustee sought Chapter 11 protection as financial pressures mounted. Early regulatory filings indicated Prime Trust owed customers up to $82 million in missing fiat deposits. While transfers made shortly before a bankruptcy filing can often be recovered under the standard 90-day "preference" lookback period, the lawsuit alleges Swan took steps intended to reduce the chances of recovery. The complaint says Swan concluded that exiting its Prime Trust relationship could expose it to significant priority-claim liability and acted to limit that risk. The filing also points to a relationship involving a "senior executive" at Prime who allegedly served as a paid external consultant to Swan. Court documents allege the executive's role provided access to internal, nonpublic information and that the individual conducted encrypted communications with Swan CEO Cory Klippstein ahead of interactions with Nevada regulators. The complaint states that on May 25, 2023, during those communications and a day before Prime met with the Nevada FID, Swan informed Prime it wanted to transfer all of its business away from the firm. The lawsuit lists exposure that includes about $22.4 million in U.S. dollars, $5 million in U.S. dollar stablecoins, and 91,444 XRP tokens, described as roughly $126,000 worth of Ripple tokens. A Swan Bitcoin representative told Blockspace that Prime Trust holds customer assets in individual trust accounts and argued the bankruptcy trustee is attempting to seize assets held by a party that never received them. The representative said customer assets held in trust are not subject to claims by general unsecured creditors and said the company expects the court to reach the same conclusion. Swan has not responded to Decrypt's request for comment.

The U.S. Securities and Exchange Commission is preparing steps that would permit tokenized stocks to be traded via blockchain-based platforms.

The U.S. Securities and Exchange Commission is preparing steps that would allow trading in blockchain-based tokenized stocks.

Zerohash Europe has received an Electronic Money Institution (EMI) license from the Dutch Central Bank, ME News reported on May 19 (UTC+8). The approval makes Zerohash Europe the first firm to hold both an EU MiCA cryptoassets authorization and an EMI license. Under earlier guidance from the European Banking Authority, businesses handling stablecoin payment flows must obtain additional EMI permission. With both licenses in place, Zerohash can provide cryptoasset and electronic money services across the European Economic Area. (Source: MLion)