The European Union has passed a new rule that mandates manufacturers of hardware and software products to report security incidents and exploits within 24 hours of their occurrence.

 

The rule, which is part of the Cyber Resilience Act (CRA), requires manufacturers, including crypto wallet manufacturers across Europe, to actively provide reports on exploited vulnerabilities and the impact these exploits may have on their products.

 

Following the submission of an early warning by a manufacturer within 24 hours of a security incident, the manufacturer is also required to submit a full notification to the Computer Security Incident Response Team of the EU Member State where the manufacturer has its main establishment through the Cyber Resilience Act Single Reporting Platform.

 

Once these initial reports are submitted, the manufacturer must submit a final report no later than 14 days after a corrective or mitigating measure has been made available or implemented. For severe incidents, the report must be submitted within a month.

 

The new rule became effective on September 11, and according to a press release from the European Union, the ruling is aimed at strengthening the EU’s approach to cybersecurity while also protecting consumers and businesses from cyber threats.

 

Penalties for Non-compliance

 

Under Article 64, EU member states can impose penalties ranging from €5 million or 1% of the company’s worldwide annual turnover to as high as €15 million or 2.5% of the company’s annual turnover, depending on whichever option the regulators of that country decide to apply.

 

Beyond the fines and penalties, EU market surveillance authorities can take corrective or restrictive measures, including requiring products to be brought into compliance, withdrawn from the market, or even recalled.

 

Ripple, the leading blockchain technology company building digital infrastructure for cross-border payments, has secured a full Crypto Asset Service Provider (CASP) license from the Commission de Surveillance du Secteur Financier in Luxembourg.

 

Image credit: x.com 

 

The full CASP authorization, announced on Monday, comes shortly after Ripple received preliminary approval from Luxembourg's financial regulator in June. With this license, Ripple is now fully compliant with the Markets in Crypto Assets (MiCA) regulation, enabling it to offer its crypto services to businesses and institutions across all 30 countries of the European Economic Area.

 

"This CASP authorization means Ripple enters the post-transitional MiCA era fully compliant and ready to scale," said Cassie Craddock, Managing Director for the United Kingdom and Europe at Ripple.

 

"The institutions we work with across Europe are looking to build their digital asset services alongside regulated partners, and Ripple is licensed and ready to meet that demand."

 

Ripple now joins a small group of digital asset firms, including Coinbase, Kraken, Crypto.com, Bitstamp, and OKX, that have obtained full authorization under MiCA. The company says it now holds more than 75 regulatory licenses worldwide, in addition to the Electronic Money Institution (EMI) license it secured in February.

 

Elsewhere on the regulatory front, the MiCA July 1 deadline is now fully in effect, with unlicensed digital asset firms required to stop serving clients in the European Union. It is estimated that more than 80 percent of the approximately 1,200 previously registered firms that lacked full licenses by late June have either exited the European Union or restricted their operations there.

 

Ripple's full CASP license comes shortly after the company was named among more than 140 members of the Open Standard consortium, a group of companies collaborating on the launch of OpenUSD (OUSD), a dollar-pegged stablecoin. The company also recently invested in Flutterwave, Africa's largest fintech unicorn.

 

 

Keyrock, a leading crypto investment company and digital asset liquidity provider, has secured a Markets in Crypto Assets Regulation (MiCA) license, advancing its efforts to expand its presence across the European Union (EU).

 

 

The company announced the authorization in a Monday blog post, stating that it was granted through its French subsidiary, Keyrock FR SAS. According to Reza Ghadiri Zare, Keyrock’s general counsel, the MiCA license provides regulatory certainty as the firm scales its operations across EU member states, thereby strengthening investor confidence.

 

“Achieving a MiCA license not only demonstrates our uncompromising market integrity, but also signals our intent for the future,” commented Kevin de Patoul, CEO of Keyrock. “We’ll continue to drive progress in digital assets, but never at the expense of security or transparency. As we grow, we’ll provide clients with the stability and confidence required in a regulated market.”

 

With MiCA licensing secured and regulatory hurdles cleared, Keyrock aims to enhance its cross-border operations across the EU. Coupled with its liquidity and risk management infrastructure, the company plans to further scale its digital asset initiatives.

 

With a valuation of $1.1 billion, Keyrock operates a liquidity infrastructure that spans more than 85 centralized and decentralized exchanges and over 1,400 markets.

 

About Keyrock 

Founded in 2017, Keyrock is a leading global digital asset market maker that aims to make crypto markets more accessible and scalable. Leveraging its high-frequency trading technologies, risk management capabilities, and deep liquidity, Keyrock offers a range of services, including market making, OTC trading, and digital asset and wealth management.

 

As one of the earliest crypto market makers, Keyrock has achieved several significant milestones, including raising more than $170 million and achieving unicorn valuation. The company has also secured the necessary licenses, reducing regulatory uncertainty as it expands across the EU. Keyrock serves institutional clients, including hedge funds, asset managers, and traditional finance companies entering the digital asset market.

 

 

Lawmakers in the lower house of the Polish parliament, the Sejm, have passed a bill implementing the European Union Markets in Crypto Assets Regulation (MiCA), amid a probe into the collapse of Zondacrypto, the country’s largest cryptocurrency exchange.

 

The passage of the bill marks a third attempt after the president vetoed earlier versions proposed by lawmakers. Following the latest parliamentary approval, the bill now awaits the president’s decision before it can become law.

 

The Polish government has until July 1, 2026, the end of the transitional period, to implement the MiCA framework. If the deadline is missed, virtual asset service providers risk having their licenses expire. Without valid authorization, crypto firms in Poland would no longer be permitted to provide crypto asset services to clients in Poland or across the European Union.

 

As a result, affected companies may be forced to shut down their operations in Poland or relocate to another EU member state in order to obtain a crypto asset service provider license, which is generally more costly and time-consuming. This requirement applies primarily to domestic crypto entities, while foreign crypto companies operating in Poland are expected to remain unaffected by this policy.

 

Zondacrypto Collapse

The passage of the bill adopting MiCA comes as Polish prosecutors have launched an investigation into the collapse of Zondacrypto, the country’s largest cryptocurrency exchange.

 

Zondacrypto has halted withdrawals for thousands of users since December 2025, leaving many unable to access their funds. According to Polish authorities, about 30,000 users have been affected, with estimated losses exceeding 350 million zlotys ($95.93 million).

 

Amid Zondacrypto’s financial struggles and its admission that it lost access to a cold wallet holding about 4,500 BTC, allegedly linked to its former CEO, who has been missing since 2022, Polish Prime Minister Donald Tusk has alleged that the exchange’s collapse is linked to fraud and its existing ties with Russian mafia groups.

 

According to Tusk, Zondacrypto’s success comes from “Russian money linked to the so-called Bratva Mafia group and Russian intelligence agencies.” Describing its roots as sinister, Tusk accused Zondacrypto of sponsoring right-wing opposition politicians. By advancing the bill supporting MiCA, Tusk aims to reduce the ease with which cryptocurrencies are used to finance sabotage activities in the country.