Nexo collaborates with two German licensed companies to maintain service operations in the European Economic Area

[Hungarian Parliament Abolishes Crypto Asset Verification Requirements, Tiwala Solutions Receives First MiCA License] According to Cointelegraph, the Hungarian Parliament has voted to abolish the crypto asset verification requirements set to take effect on July 1, 2025. Finance Minister Kármán András stated that stringent regulatory measures had led several service providers to exit the Hungarian market. On July 20, the Hungarian National Bank (MNB) granted Budapest-based crypto platform CoinCash operator Tiwala Solutions the first local license under the EU MiCA framework. The authorization covers custody, crypto-to-fiat exchange, crypto-to-crypto swaps, transfers, investment advice, and portfolio management services.

Sergej Kunz, co-founder of 1inch, stated on the Chain Reaction program that centralized exchanges play a gatekeeper role, and in order to convert crypto native centralized exchange users into DeFi users, it is necessary to provide a better user experience than currently available. （Cointelegraph）

The bitcoin miner reached a market valuation of roughly $2.8 billion based on its 44.9 million shares outstanding.

Users pointed out to Musk that Tesla had promised to resume accepting Bitcoin payments when Bitcoin mining uses more than 50% sustainable energy, and the proportion has now reached 59%. （Bitcoin Archive）

[Fred Thiel: AI Infrastructure Power Revenue Exceeds Bitcoin Mining] According to a report by (Bitcoin.com), MARA Holdings CEO Fred Thiel stated that using electricity for AI infrastructure yields higher revenue compared to Bitcoin mining, and the company is accelerating its transition to the data center business. MARA has partnered with Starwood to deploy approximately 1 GW of computing power and completed an acquisition agreement in July for a site in Texas with about 2 GW of power capacity. Mining companies such as TeraWulf, CleanSpark, and Hut 8 have also signed long-term AI leases. Hut 8, for instance, has fully locked in its 1 GW Beacon Point campus through two 15-year lease agreements, with a total contract value of $19.6 billion. Thiel emphasized that Bitcoin mining still holds economic value in regions with low-cost or surplus energy.