The crypto industry saw fresh developments across regulation, licensing, and international investment as France moved to block access to prediction market Polymarket, European regulators expanded the list of firms authorized under MiCA, and Balaji Srinivasan sought legal assurances from Malaysia following scrutiny of his Network School community.
France orders internet providers to block Polymarket
France’s gambling regulator, the Autorité Nationale des Jeux (ANJ), has ordered internet service providers to block access to Polymarket, escalating regulatory pressure on one of the world’s largest blockchain-based prediction markets.
French authorities classify unauthorized prediction markets as a form of illegal gambling. The ANJ said Polymarket does not have authorization to operate in the country and warned that promoting unauthorized gambling platforms can carry fines of up to €100,000 ($114,000).
Polymarket allows users to trade contracts based on the outcomes of real-world events, ranging from elections and sports to economic indicators and geopolitical developments.
Its rapid growth has attracted regulatory scrutiny worldwide over whether prediction contracts should be treated as gambling products, financial instruments, or a new category requiring specialized regulation.
France joins a growing number of jurisdictions restricting access to the platform. Polymarket reportedly faces geographic restrictions across dozens of regions, highlighting the regulatory challenges prediction markets face as they expand globally.
ESMA adds 14 Crypto Firms to MiCA Register
European regulators have added another 14 crypto-asset service providers (CASPs) to the regulatory register established under the European Union’s Markets in Crypto-Assets (MiCA) framework.
The latest update from the European Securities and Markets Authority (ESMA) brings the total number of registered crypto service providers to 294.
New additions reportedly include Ripple Payments Europe, Portugal-based Bison Bank, and Croatia’s state-owned Hrvatska poštanska banka.
However, the latest batch represents a slowdown compared with the previous update, when 37 companies were added shortly after MiCA’s transitional deadline.
The slower pace could indicate that Europe’s crypto licensing environment is entering a more mature phase as regulators work through applications under the bloc’s unified regulatory framework.
MiCA is designed to create consistent rules for crypto exchanges, custodians, stablecoin issuers, and other digital asset businesses operating across the European Union.
Balaji Srinivasan seeks legal assurances from Malaysia
Former Coinbase executive and Network School founder Balaji Srinivasan is seeking formal assurances from the Malaysian government following an investigation into his technology-focused community in Forest City, Johor.
Malaysia’s Home Affairs Ministry launched an investigation following allegations that the community was hosting Israeli citizens using second passports in potential violation of the country’s immigration restrictions.
Initial government checks reportedly found that all 266 foreign nationals inspected held valid documentation.
Srinivasan is now seeking a formal agreement, potentially through a memorandum of understanding, that would provide greater legal certainty for Network School’s continued operations and investment in Malaysia.
He has warned that without sufficient assurances, the organization could reconsider future investment and potentially relocate expansion plans to another jurisdiction.
The dispute highlights a broader challenge facing technology-driven and crypto-oriented communities attempting to establish physical hubs internationally. While such projects may operate around global digital networks, they remain dependent on national governments for immigration rules, investment protections, and long-term regulatory certainty.
Together, these developments illustrate how regulation is increasingly shaping crypto’s next phase of growth. From prediction markets facing national restrictions to MiCA reshaping European licensing and crypto entrepreneurs negotiating directly with governments, the industry’s expansion is becoming increasingly intertwined with traditional legal and regulatory systems.
