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According to Foresight News, crypto journalist Eleanor Terrett reports that Josh Vlasto, a spokesperson for the crypto policy organization CEDAR, commented on the Senate's vote on the GENIUS Act. Vlasto stated, "We congratulate the Senate on today's vote outcome. This resolution, along with the eventual passage of the stablecoin bill, clears the path for Congress to enact market structure legislation as mandated by voters, thereby establishing clear rules for digital assets."

According to PANews, U.S. Securities and Exchange Commission (SEC) Chair Paul Atkins addressed the SEC Speaks conference, highlighting the agency's past passive stance on cryptocurrency regulation. Atkins criticized the previous "ostrich policy" approach, which shifted to enforcement before accountability, resulting in a lack of trust. He emphasized the need for regulatory bodies to engage actively with the market and adapt rules to accommodate new technologies. Despite the SEC's stated willingness to communicate with potential registrants, regulatory requirements have not been adjusted, and leadership has historically hindered staff from discussing complex legal issues with market participants. Atkins has now directed the Division of Corporation Finance to engage transparently with the public. The SEC's policy divisions are currently drafting proposals for cryptocurrency-related rules, although staff members continue to address obstacles through staff-level statements, such as FAQs issued by the Division of Trading and Markets. While these staff opinions do not constitute official rules or regulations, they offer valuable insights to the public. Atkins also expressed a desire for the commission to allow SEC registrants to custody and trade both securities and non-securities under one roof. Additionally, he has requested congressional approval to reallocate funds to integrate the Strategic Hub for Innovation and Financial Technology (FinHub) into other SEC departments. This move aims to embed innovation into the SEC's core culture, as FinHub is currently viewed as an enforcement tool with limited scale and efficiency.

According to Odaily, Federal Reserve official Raphael Bostic has indicated that the number of interest rate cuts this year will depend on unfolding events, with the specifics of tariffs playing a crucial role. Bostic expressed a preference for only one rate cut this year, citing the time required to fully understand the implications of tariffs.

According to Foresight News, European law enforcement agencies have dismantled a clandestine banking network that laundered over $23 million (approximately 21 million euros) using cryptocurrencies. The operation led to the arrest of 17 individuals in Spain, Austria, and Belgium. Among those arrested, individuals of Chinese nationality were responsible for cash collection in Spain, while those of Arab nationality managed international transfers.Authorities seized approximately $229,600 in cash, $204,960 in cryptocurrencies, luxury vehicles, real estate, cigars, and handbags, with a total value exceeding $3.5 million. This operation highlights the ongoing efforts by European law enforcement to combat financial crimes involving digital currencies.

According to PANews, the Dubai Virtual Assets Regulatory Authority (VARA) has revised its digital asset trading rulebook, as reported by CoinDesk. The new regulations focus on strengthening leverage controls and collateral requirements for margin trading, with significant amendments made to the Broker-Dealer and Exchange Rulebook. This update aims to align the regulatory framework with international risk standards and address previous regulatory gaps concerning brokers and wallet service providers.VARA stated that the revisions are based on practical licensing experience and international best practices, contributing to the development of a more mature regulatory system. Ruben Bombardi, VARA's Chief Legal Officer, emphasized that these updates reinforce the foundation of a "responsible and scalable ecosystem." The authority's previously clear regulatory requirements have already positioned Dubai as a hub for cryptocurrency activities.

According to BlockBeats, the U.S. Senate is set to vote tonight on advancing a bill concerning stablecoins. This legislative move comes amid growing interest in regulating digital currencies and ensuring financial stability. The outcome of the vote could have significant implications for the cryptocurrency market and its regulatory framework.

According to PANews, Germany's financial regulator, BaFin, has issued a comprehensive Markets in Crypto-Assets (MiCA) license to Trade Republic, a major European fintech company. This license enables Trade Republic to offer crypto asset custody services to its 4 million customers across 17 markets. Additionally, the company can execute or transmit customer orders and provide transfer services, allowing it to conduct nearly all crypto-related activities in almost 30 European Economic Area (EEA) countries.Germany is a leader in the European crypto sector, having granted MiCA licenses to nine crypto asset service providers, which accounts for 36% of the EU's initial 25 licenses. With the deadline approaching in mid-2025, when European-registered crypto companies without a license may lose their qualifications, many firms in the industry are accelerating their application processes.

According to BlockBeats, the yield on the U.S. 30-year Treasury bond has climbed to 5.02%, marking its highest point since November 2023. This increase reflects ongoing shifts in the financial markets as investors respond to economic conditions and policy changes.

According to BlockBeats, Mansoor Mohi-uddin, the Chief Economist at the Bank of Singapore, highlighted in a research report that the recent downgrade of the U.S. credit rating has significant implications for the country's economic outlook.Firstly, the deteriorating fiscal situation in the United States supports the view that long-term U.S. Treasury yields will rise over time. The bank continues to forecast that the 10-year U.S. Treasury yield will reach 5.00% within the next 12 months.Secondly, the threat to the safe-haven status of U.S. Treasuries underscores the bank's perspective that the U.S. dollar has peaked.Lastly, the substantial U.S. deficits and inflation may compel the Federal Reserve to maintain higher interest rates for an extended period.

According to ShibDaily, the UK government has announced new guidelines mandating crypto firms to collect and report comprehensive data on customer trades and transfers. This initiative aims to enhance transparency and improve tax compliance within the cryptocurrency sector. The guidelines, issued by HM Revenue and Customs (HMRC), will require the mandatory collection of user and transaction data starting January 1, 2026. However, the government is urging companies to begin gathering this information ahead of time to ensure a seamless transition to the new reporting standards.Crypto firms will be obligated to collect and report detailed information for each transaction, including the user's full name, home address, and tax identification number. Additionally, the type of cryptocurrency used, the amount transferred, and identifying details of entities such as companies, trusts, and charities involved in crypto transactions must also be disclosed. This move is part of the UK's adoption of the Organisation for Economic Development (OECD) Cryptoasset Reporting Framework (CARF), which is being extended to include domestic reporting. Firms that fail to comply with these new requirements or submit inaccurate information may face penalties of up to £300 (approximately $398) per user. Depending on the type of data collected, crypto companies may also be required to submit annual reports to HMRC.In late April, UK Chancellor Rachel Reeves introduced a proposed framework for regulating crypto assets, marking a significant step towards strengthening consumer safeguards and boosting trust in the digital asset market. The draft legislation aims to bring more oversight to the rapidly evolving crypto space. Reeves stated in an April 29 official press release that firms offering services for cryptoassets like Bitcoin and Ethereum will be subject to new, clear rules, which are expected to boost investor confidence and drive growth through the Plan for Change. The proposed legislation builds on the UK Treasury's 2023 consultation, which outlined a strategy to bring a broad range of crypto-related activities—such as trading platforms, wallet providers, and crypto lending—under formal financial regulation.This initiative reflects the government's push to align the crypto sector with existing financial standards, aiming to reduce risks for consumers and establish clearer compliance expectations for industry participants. As the UK moves to integrate digital assets into its financial oversight framework, industry participants will be closely monitoring how these evolving regulations will shape the future of crypto in the region.

According to PANews, a recent report by Fireblocks titled '2025 Stablecoin Status Report' reveals that stablecoins are transitioning from experimental products to essential financial infrastructure. The report surveyed 295 financial institution executives, with 90% indicating they are using, testing, or preparing for stablecoin payment scenarios. Of these, 49% have already implemented stablecoins for payments, and 75% believe there is a clear demand for stablecoin products among customers.The data highlights speed as the most significant advantage of stablecoins, with 48% of respondents citing it as a key benefit. Additionally, regulatory barriers have notably decreased, facilitating the adoption of stablecoins. Currently, the Fireblocks platform processes 15% of the global stablecoin transaction volume, handling over 35 million transactions monthly.

According to Odaily, U.S. President Donald Trump's tax reduction bill has gained approval from a key committee in the U.S. House of Representatives, setting the stage for a potential vote later this week. Last Thursday, efforts by Republicans to advance Trump's comprehensive tax legislation in Congress faced challenges. Five conservative hardliners within the Republican Party joined all Democratic members in voting against the bill. These conservatives demanded further cuts to Medicaid in exchange for their support in a crucial procedural vote. Republican leaders acknowledged that the bill is not yet finalized, indicating that significant revisions to the tax and Medicaid provisions are necessary to secure conservative backing.

According to BlockBeats, a spokesperson for the U.S. Treasury Department announced that Treasury Secretary Besant will attend the G7 finance leaders' meeting in Canada this Tuesday. The focus will be on addressing trade imbalances and non-market economic practices. Besant plans to discuss strategies for achieving growth driven by the private sector with other officials. Additionally, Besant has pledged to 're-privatize' the U.S. economy by reducing government spending and regulation, expressing concerns over the economy's reliance on the public sector for growth. In April, Besant had initial face-to-face discussions with G7 finance leaders during the International Monetary Fund and World Bank meetings, although no joint statement was issued.

According to BlockBeats, Japanese Prime Minister Shigeru Ishiba has expressed a desire to establish a mutually beneficial investment relationship with the United States. He emphasized that Japan cannot accept the imposition of tariffs on goods, including automobiles, by the U.S.

According to BlockBeats, starting January 1, 2026, cryptocurrency companies operating in the United Kingdom will be required to collect and report detailed user and transaction data under a new regulation introduced by the UK tax authority.This change follows the UK's adoption of the Crypto-Asset Reporting Framework (CARF), a global standard aimed at combating tax evasion and aligning the transparency of the crypto industry with that of the banking sector.Under the new rules, crypto platforms must identify each user and record their legal identity information, address, and taxpayer identification number.Additionally, platforms must document every transaction involving UK users or users from other CARF-participating countries, detailing the transaction amount, asset type, quantity, and nature of the transfer.These requirements also apply to overseas companies providing services to UK customers. In cases of incorrect or incomplete reporting, each user could face a fine of up to £300.

According to Cointelegraph, the European Union's Markets in Crypto-Assets regulation, commonly referred to as MiCA, is entering a crucial phase of implementation. This regulation aims to harmonize crypto regulations across the 27 EU member states, offering clarity, consumer protection, and long-term market stability. However, as the implementation process unfolds, several challenges are emerging. As of January 2025, crypto asset service providers (CASPs) have started acquiring licenses to operate legally within the EU. A transitional period, or "grandfathering" phase, grants existing firms up to 18 months to comply, depending on the member state. With deadlines looming, companies are under pressure to act swiftly. One of MiCA's most contentious provisions pertains to stablecoins. The regulation stipulates that no stablecoin can be offered to EU users unless the issuer is authorized within the EU and publishes a regulator-approved white paper. Additionally, strict rules concerning asset reserves, governance, conflict of interest, and marketing are enforced. Issuers are prohibited from offering interest on tokens, eliminating a common incentive for adoption. Tether's USDt (USDT), the world's most-used stablecoin, has announced it will not seek MiCA compliance, potentially leading exchanges to delist it across the EU. This decision could significantly impact liquidity, retail access, and DeFi activities in the region. While some firms resist compliance, others are embracing the new regulations. BitGo, a crypto custody firm, has recently secured a MiCA-aligned license in Germany, positioning itself to cater to institutional clients across Europe. Brett Reeves, head of Go Network and European Sales at BitGo, emphasized that the license is not solely about compliance but also about aligning with Europe's evolving regulatory landscape. He noted that interactions with BaFin and European regulators have been relatively straightforward, with regulators ensuring that processes are robust and compliant. Erwin Voloder, head of policy at the European Blockchain Association, highlighted the importance of consistent national-level interpretation and improved guidance from regulators to prevent fragmentation. As MiCA continues to shape the EU crypto market, firms must navigate the complexities of compliance while seizing strategic opportunities. The regulation's impact on stablecoins and the broader market remains a focal point for industry stakeholders.

According to PANews, Australian cryptocurrency exchange Cointree has been fined 75,120 Australian dollars by the financial regulatory body AUSTRAC for failing to promptly submit reports on suspicious transactions. The exchange has voluntarily disclosed compliance gaps and is currently upgrading its internal monitoring systems. Under Australian anti-money laundering regulations, suspicious financial activities must be reported within three business days, while suspected terrorist financing must be reported within 24 hours. AUSTRAC Director Brendan Thomas emphasized the importance of timely reporting in tracking criminal funds. This action is part of AUSTRAC's increased regulatory measures on the crypto industry since 2024, which have included penalties for 13 non-compliant businesses and warnings to over 50 institutions.

According to PANews, the Northern Mariana Islands, a U.S. Pacific territory, has passed legislation allowing Tinian Island to issue a stablecoin, overturning Governor Arnold Palacios' veto from April 11. The House of Representatives approved the bill with 14 votes in favor and 2 against, following the Senate's re-evaluation on May 9, which passed with 7 votes in favor and 1 against. The legislation permits the Tinian Island government to authorize the issuance, management, and redemption of the stablecoin "Marianas US Dollar" (MUSD) by the Finance Minister. If issued before July, Tinian Island could become the first U.S. public entity to launch a stablecoin, ahead of Wyoming, which has similar plans.Tinian Island, with a population of just over 2,000, relies heavily on tourism and is one of the four municipalities of the Commonwealth of the Northern Mariana Islands. The island has selected local tech service company Mariana Ray as the exclusive infrastructure provider for MUSD, which will be issued on the eCash blockchain. A spokesperson for Mariana Ray declined to comment but mentioned that more details would be released on May 19.

According to PANews, the U.S. Securities and Exchange Commission (SEC) has released a set of frequently asked questions (FAQs) to clarify how broker-dealer and transfer agent rules apply to crypto assets and distributed ledger technology. Commissioner Peirce noted that the guidance addresses custody rules, the creation of cryptocurrency ETFs in physical form, and tokenized securities, describing it as a 'progressive step forward.'

According to PANews, a Singapore-based fintech company's Hong Kong branch experienced a significant theft involving over 3.2 million USDT, valued at approximately 26 million Hong Kong dollars. The incident involved an employee who executed 64 unauthorized transactions from the company's virtual currency account, transferring the funds to various electronic wallets on different trading platforms. Authorities have successfully recovered virtual currency worth about 8.6 million Hong Kong dollars, along with 4.65 million Hong Kong dollars in cash and assets.The individual involved has been charged with one count of theft and three counts of handling property known or believed to represent proceeds from indictable offenses. The accused admitted to the charges in the Hong Kong High Court and was found guilty, receiving a sentence of 78 months in prison.