Age Verification Policies Risk Breaching Privacy, Claims Billions CEO
In a recent opinion piece for CoinDesk, Evin McMullen, CEO of Billions Network, critiques the mandatory age verification measures included in the Kids Internet and Digital Safety Act and EU's Chat Control 2.0. He argues that these measures transform anonymous browsing into identified browsing, potentially leading to widespread surveillance under the guise of child safety.

On June 29, 2026, significant internet legislation progressed in both the U.S. and the EU. The House of Representatives passed the Kids Internet and Digital Safety Act, while negotiations on the EU's Chat Control 2.0 reached their final trilogue. Critics have noted that these bills retreated from more invasive proposals but retained mandatory age verification measures.
Evin McMullen, in his commentary, emphasizes that age verification reshapes the internet experience not just for children but for adults as well. While civil liberties groups celebrate the withdrawal of certain provisions, they overlook how age verification fundamentally alters user privacy.
McMullen highlights the inherent flaws in the current approach to age verification, which he claims equates verifying age with collecting users' identities. This leads to the creation of large databases containing sensitive personal information, increasing risks of data breaches and expanding the surveillance landscape.
He points out the example of the UK's Online Safety Act, where age verification measures have already begun to infringe on user privacy. McMullen warns that the discussions around these laws fail to differentiate between age verification and identity collection, often resulting in excessive data retention practices that can compromise user security.
Moreover, McMullen suggests that an alternative, privacy-preserving method exists—using zero-knowledge proofs to verify age without collecting personal data. This approach could fulfill the legislative intent without compromising user anonymity. He laments that legislators focus solely on the outcome of age verification without considering the implications of how that outcome is achieved.
As these legislative processes continue, McMullen urges a critical examination of the age verification frameworks being endorsed. He stresses the importance of deciding on privacy-focused verification methodologies before these laws are enacted, which will set a precedential architecture for future digital interactions—not only for humans but also for AI agents requiring similar verification standards.
Thus, the current legislative trajectory raises substantial concerns for privacy advocates. McMullen warns against normalizing the notion that child protection necessitates the identification of all users, underscoring the potential for establishing an identity surveillance infrastructure under the guise of safety. Such outcomes, he argues, would not only undermine civil liberties but also disadvantage marginalized groups who rely on anonymity for protection from repression.
Summary based on original reporting by Evin McMullen at CoinDesk, originally published Jul 9, 2026. SolanaWire does not republish source content.

EU To Revise MiCA By 2027, Expanding To Foreign Stablecoin Issuers
The European Union plans to revisit its Markets in Crypto-Assets (MiCA) framework in 2027 to include non-EU stablecoin issuers and adapt to market changes sparked by U.S. policies, according to Euronews. This push follows U.S. President Donald Trump's advocacy for dollar-backed stablecoins, which dominate the market.
2 hours ago·Decrypt·Reported by Decrypt Agent

Sony Bank Gains Approval to Launch Dollar-Pegged Stablecoin
Sony Bank has secured conditional approval from the U.S. Office of the Comptroller of the Currency to establish Connectia Trust, a national trust bank intended to issue a dollar-backed stablecoin. This venture aims to enhance digital payments in the company's ecosystem, including PlayStation and Crunchyroll, and looks to target U.S. consumers, as reported by Decrypt.
3 hours ago·Decrypt·Reported by Emre Yilmaz

Temasek Abandons Cryptocurrency Investments, Shifts Focus to AI
Temasek Holdings has announced it will no longer invest in cryptocurrencies, opting instead to increase its artificial intelligence holdings. Citing regulatory uncertainty and a significant loss from the FTX collapse, the Singapore investment fund plans to expand AI investments from 6% to 15% of its portfolio by 2031, according to CoinDesk.
4 hours ago·CoinDesk·Reported by Olivier Acuna

Sony Bank Receives Conditional Approval for U.S. Stablecoin Trust Bank
Sony Bank has secured conditional approval from the Office of the Comptroller of the Currency (OCC) to establish Connectia Trust, a U.S. subsidiary focused on stablecoin operations, according to CoinDesk. The New York-based subsidiary will be capitalized with $40 million but cannot proceed until all regulatory approvals are finalized.
5 hours ago·CoinDesk·Reported by Francisco Rodrigues
Trending this week

Aave Launches Stable Vaults to Support Fintech Apps' Yield Offerings
Aave Labs introduces Stable Vaults, allowing fintech applications to provide yield on stablecoin deposits without requiring user engagement with crypto infrastructure, according to CoinDesk. This new product aims to automate the allocation of deposits across approved decentralized finance lending strategies for easier integration into fintech platforms.
1 hour ago·CoinDesk·Reported by Krisztian Sandor

Mantle Moves $2.5B Super Portal to Chainlink CCIP Amid $7.2B Migration
Mantle is migrating its Super Portal, valued at $2.5 billion, from LayerZero to Chainlink's Cross-Chain Interoperability Protocol (CCIP). This migration is part of a larger trend, with over $7.2 billion in assets moving from LayerZero to Chainlink since May, with various other projects joining the transition, as reported by CoinDesk.
2 hours ago·CoinDesk·Reported by Francisco Rodrigues

Bitcoin Pricing Highlights Dollar's Erosion of Value
CoinDesk reports that measuring U.S. home prices in Bitcoin reveals a significant decline that highlights the dollar's depreciation. As a house that once cost more than 50 BTC in 2020 is now priced at just 5 BTC, this suggests that apparent real estate appreciation may reflect a weakening fiat currency rather than true asset growth.
3 hours ago·CoinDesk·Reported by Omkar Godbole

SWIFT Launches 24/7 Blockchain Payments with 17 Major Banks
SWIFT announces the rollout of a new blockchain-based payments platform for live transactions with 17 major banks, including HSBC and Citi, according to CoinDesk. This system aims to facilitate round-the-clock cross-border payments using tokenized digital assets while integrating with existing banking infrastructure.
3 hours ago·CoinDesk·Reported by Olivier Acuna
