Today in crypto, the US Senate passed a housing bill that tucked in a CBDC ban, Franklin Templeton created a dedicated crypto unit after finalizing the acquisition of 250 Digital, while questions continue to swirl around Binance’s future in the EU.
Senate passes housing bill with CBDC ban until 2030
The US Senate on Monday voted 85-5 to pass a bipartisan housing affordability bill that includes a ban on the Federal Reserve creating a central bank digital currency (CBDC) until 2030, which is expected to be quickly passed by the House.
It comes after House and Senate leaders reached a deal last week to move forward with the 21st Century Road to Housing Act, which aims to increase the housing supply, but has included a CBDC ban since a version of it passed the Senate in March.
It outlines that the Fed may not, directly or indirectly, “issue or create a central bank digital currency or any digital asset that is substantially similar to a central bank digital currency,” but makes a carve-out for stablecoins. After the CBDC ban lifts in 2030, the Fed can’t act on a CBDC without explicit congressional authorization.
The bill will now be sent to the House for a vote, where it is expected to pass quickly with the deal struck by House leaders last week, before it’s then sent to the president to sign it into law.
Franklin Templeton expands crypto business with new investment division
Franklin Templeton has finalized its acquisition of crypto asset manager 250 Digital, creating a new business unit, Franklin Crypto, to strengthen its digital asset offerings.
The unit will be led by former 250 Digital executives Christopher Perkins and Seth Ginns, along with Franklin Templeton digital assets executive Tony Pecore. It will include 250 Digital’s investment team and crypto strategies.
The move is part of Franklin Templeton’s broader push into digital assets and blockchain-based finance. In recent months, the asset manager partnered with Binance to enable tokenized money market funds as collateral for crypto trading and worked with Ondo Finance to expand access to tokenized ETFs on blockchain networks. The company has also proposed Bitcoin-linked ETF strategies that reinvest stock dividends.
Franklin Templeton has also become a major player in the market for tokenized real-world assets. Its tokenized asset portfolio has grown from about $768 million to more than $2.5 billion over the past year.
Franklin Templeton’s tokenized financial assets. Source: RWA.xyz
EUR trading accounts for 1% of Binance spot volume, CryptoQuant says
Euro-denominated trading accounts for only a small share of Binance’s activity, as the exchange faces uncertainty over its European licensing prospects under the Markets in Crypto-Assets Regulation (MiCA).
Euro (EUR) trading accounts for around 1% of Binance’s spot volume, CryptoQuant analyst Maartunn told Cointelegraph.
“Binance’s inflows remain globally distributed, which may limit the impact of potential MiCA-related setbacks,” Maartunn said, pointing to the exchange’s diversified user base across regions.
Source: CryptoQuant
The data comes as Greek regulators are reportedly preparing to reject Binance’s licensing application ahead of MiCA’s transitional deadline on July 1, a move that could complicate the exchange’s ability to serve EU residents.
