Today in crypto, French authorities proposed holding crypto platforms responsible for DeFi incidents, Elon Musk said he supports the idea of merging Tesla and SpaceX and a Coinbase-commissioned report found that stablecoin transfers reached $891 billion in the third quarter.
France proposes liability for crypto exchanges offering DeFi access
France wants cryptocurrency platforms to face liability for certain decentralized finance (DeFi) incidents if they fail to vet protocols or ignore known security risks.
French authorities published proposals Wednesday to revise the European Union’s Markets in Crypto-Assets Regulation (MiCA). The joint response to a European Commission consultation came from France’s Treasury, the Financial Markets Authority (AMF), the central bank and the Prudential Supervision and Resolution Authority (ACPR).
“CASPs [crypto-asset service providers] should be liable for certain incidents affecting clients where they actively facilitated access,” French authorities said.
MiCA excludes crypto services provided in a fully decentralized manner without intermediaries. France’s proposal would extend investor safeguards by imposing new duties on regulated platforms that connect customers to DeFi protocols.
The Commission is reviewing whether MiCA needs updating as crypto markets develop. Its consultation sought views on activities outside the law’s original scope, including DeFi. The responses will inform a report to EU lawmakers due by June 30, 2027, which could include proposals to amend the law.
Musk says SpaceX-Tesla merger a ‘good idea’ as AI revenue jumps ninefold
Elon Musk said he likes the idea of merging Tesla with SpaceX in a potential move that would create a roughly $3.5 trillion technology giant combining AI, space exploration and electric vehicle manufacturing.
“Do I think it would be a good idea? Yes,” Musk said of the potential merger during a SpaceX Q3 earnings call on Tuesday.
Musk said that both SpaceX and Tesla have formed special committees of independent directors to discuss the idea at the request of shareholders, though he isn’t able to take part in the discussions due to being a conflicted party.
A merger would bring Tesla into the same corporate group as Grok developer SpaceXAI (formerly xAI) and social media platform X, which SpaceX acquired in February. The talks also come as SpaceX’s AI business became its largest revenue segment in Q3, underscoring how central artificial intelligence has become to Musk’s expanding technology empire.
US banks test stablecoin payments as quarterly transfers hit $891 billion
Stablecoin transfer volume reached $891 billion in the third quarter of 2026, more than quadrupling since early 2023, according to a Coinbase-commissioned report conducted by The Block Research.
The report found that stablecoins processed more than $400 million in adjusted transfers per hour, with 73% of screened volume occurring outside traditional US banking hours, including weekends and holidays.
Institutional adoption is also expanding. Seven of the 10 largest US banks have tested stablecoins or tokenized deposits for settlement, while 30% of mid-market companies engaged in cross-border business are using or piloting stablecoins, up from 10% in 2024.
A separate National Cryptocurrency Association survey found that 42% of US adults would be more inclined to open an account or expand their relationship with a bank offering crypto services.
Despite rising transaction volumes, stablecoin supply has barely changed over the past year. According to DeFiLlama, the market’s capitalization stood at $301.4 billion on Tuesday, down approximately 0.6% from a year earlier.
Standard Chartered recently pushed its $2 trillion stablecoin market forecast from 2028 to 2030, citing slower supply growth.
