News linked to this event type.
crypto journalist Eleanor Terrett posted on platform X, stating that due to ongoing disagreements within the Republican party over the border security coordination bill, the US Senate failed to advance relevant agenda items before the Memorial Day recess. As a result, the crypto market structure bill, the CLARITY Act, will need to compete for Senate floor time again after Congress reconvenes in early June. The Senate's current schedule is already very tight, with housing legislation, the farm bill, and the FISA Act deadline on June 12 also needing to be addressed. Therefore, the crypto market structure legislation is likely to be postponed for consideration until July, thereby affecting the probability of its final passage before the August recess. It is reported that staff from the Senate Agriculture Committee and the Banking Committee have already begun coordinating and merging bill texts behind the scenes, and related technical drafting work will continue during the recess.
According to Caixin Global, Tiger Brokers issued a statement clarifying that recent claims accusing the company of “refusing to cooperate with regulators” or “confronting regulators head-on” are entirely false. The company emphasized that regulatory compliance is the lifeline of its operations and stated that it will strictly adhere to guidance from the China Securities Regulatory Commission (CSRC) and other relevant regulatory authorities to implement rectifications in response to the latest regulatory requirements. Since 2023, Tiger Brokers has fully ceased opening accounts and conducting marketing activities for mainland Chinese users. As of the end of Q1 2026, mainland Chinese clients accounted for approximately 10% of the company’s total client assets. Meanwhile, its overseas client base and asset scale have grown steadily. The company will continue advancing its compliance efforts in a steady and orderly manner to safeguard client asset security.
JPMorgan announced its blockchain platform Kinexys has exceeded $1.5 trillion in cumulative transaction volume since its launch in 2020, processing over $2 billion in daily transaction volume.Additionally, in May 2026, JPMorgan applied to launch a tokenized Treasury fund, built using the Kinexys blockchain infrastructure, designed to meet the reserve asset requirements for stablecoin issuers under the GENIUS Act. Its Q3 2025 13F filing shows JPMorgan increased its holdings of iShares Bitcoin Trust shares by 64% to 5.28 million shares, valued at approximately $343 million.Meanwhile, Kinexys and Digital Asset plan to bring JPM Coin to the Canton Network in 2026 to enable institutional deposit token settlements on public infrastructure. (financefeeds)
According to the ABA Banking Journal, on May 22, the U.S. Federal Deposit Insurance Corporation (FDIC) proposed new rules to establish Bank Secrecy Act (BSA) and sanctions compliance standards for stablecoin issuers under its supervision. Under the proposal, such issuers would be required to comply with applicable anti-money laundering (AML) / countering the financing of terrorism (CFT), economic sanctions, and reporting requirements—including those issued by the Financial Crimes Enforcement Network (FinCEN) and the Office of Foreign Assets Control (OFAC). The rule would also establish supervisory and enforcement provisions for AML/CFT programs consistent with FinCEN’s requirements. The public comment period is 60 days following publication of the proposal in the Federal Register.
According to Reuters, the European Central Bank (ECB) opposed a proposal to promote more euro-denominated stablecoins at a meeting of EU finance ministers, arguing that relaxing liquidity requirements for stablecoin issuers—or even granting them access to ECB funding—could undermine the stability of bank deposits, dampen bank lending, and complicate interest rate control. The proposal was put forward by Bruegel in its meeting document, aiming to expand the current market, which is dominated by U.S. dollar–denominated stablecoins. ECB President Christine Lagarde has previously taken a cautious stance toward euro stablecoins, favoring instead tokenized commercial bank deposit solutions. The report also notes that the EU is reviewing the Markets in Crypto-Assets (MiCA) regulation, which entered into force in 2024, while the U.S. passed the more permissive GENIUS Act in 2025.
recently, Liu Feng, former founder of ChainNews, and Dan Romero, former Farcaster founder and Tempo team member, engaged in a series of discussions on topics such as payments, cryptocurrency, and AI Agents. During the conversation, Dan Romero addressed some key questions raised by both Liu Feng and the public. The highlights are as follows:1. The reason for the shift from idealistic socialfi products to public chains dominated by large enterprises: "The crypto landscape has changed. Now we have stablecoins and crypto (more native) as two distinct things." Tempo and Playbook's goal is: "Starting with payment services, collaborating with large, established companies to help them conduct on-chain payments and advance their own business development. Then, by integrating DeFi applications, we will launch yield-generating products that end users actually need."2. "Tempo has no meme coins or anything similar, which is a good thing for a conservative bank. Tempo has other characteristics: compliance and privacy. This might not be as exciting for crypto natives, but it is very attractive to banks."3. Regarding core use cases for payments: "Platform-based marketplaces and cross-border payments are two clear stablecoin use cases."4. Micropayment-driven agent-to-agent payments are worth anticipating; stablecoin-based micropayments will usher in a new spring. Regarding payments between agents: "Traditional payment methods are too costly to use at scale. This level of granularity and speed can only be achieved through cryptocurrencies and streaming payments."5. "I deeply respect Ethereum's adherence to cypherpunk principles regarding decentralization. I really like their new mission; it's good for the world. But the reality is that businesses don't care about these things; they care about whether it can solve real problems." "If Tempo can attract 1 million businesses and 1 billion consumers, it won't be a bad thing for either cryptocurrency or Ethereum."6. Regarding Tempo's decentralization process: Hoping to achieve it within two years. "We are not a bunch of suit-wearing outsiders; we truly understand the space. We know how important decentralization is, but at the same time, we are very pragmatic. I guarantee that we will actually drive application adoption."7. Regarding the Machine Payment Protocol (MPP) and the X402 protocol, AI Agents don't care about the differences between them. The key to satisfying them is the elimination of human intervention.8. Tempo's Asian market lead is now in place and will be operating out of Singapore.
Grayscale’s latest research report states that Grayscale Research Head Zach Pandl believes tokenized assets and decentralized finance (DeFi), among other blockchain applications, may experience growth as the CLARITY Act advances and related guidance from the U.S. Securities and Exchange Commission (SEC) becomes increasingly clear. Grayscale identifies Ethereum, Solana, BNB Chain, and Canton Network—currently dominant in on-chain financial activities—as likely to attract institutional capital first. The report notes that Ethereum, Solana, and BNB Chain lead in areas such as tokenized assets, stablecoins, and DeFi, while Canton Network also holds a significant share in the tokenized assets space.
UK police announced that five individuals have been sentenced in a “wrench attack” case targeting cryptocurrency holders. The suspects met the victim at a Shoreditch pub in London in July 2025 and forcibly took him to his home, where they used violence and threats—including coercing facial recognition verification—to compel him to access his bank and cryptocurrency accounts, stealing over £10,000 in cash, cryptocurrency, and watches. During the investigation, cryptocurrency exchange Coinbase reported suspicious activity on the victim’s account to the police, who subsequently identified and arrested the suspects. The court sentenced four principal offenders to prison terms ranging from three-and-a-half to six-and-a-half years, while a fifth individual received a community service order for money laundering. Police stated that the incident inflicted long-term psychological trauma on the victim and his family, highlighting the rising risk of offline violent crime targeting cryptocurrency asset holders.
Kalshi and Polymarket have lost their bid to block gambling-related lawsuits filed by the states of Nevada and Washington. A panel of the U.S. Ninth Circuit Court of Appeals stated that federal derivatives regulation does not automatically shield prediction market platforms from enforcement of state gambling laws.The appeals court rejected the companies' request to halt the remand of the disputes back to state courts, with the judge stating that Kalshi and Polymarket failed to prove their claim that the cases fall under federal jurisdiction. This ruling deepens the legal divide over whether sports event contracts offered by prediction market companies are federally regulated derivatives or illegal gambling products under state law. (financefeeds)
The U.S. Court of Appeals for the Ninth Circuit rejected requests from Kalshi and Polymarket, allowing gambling-related cases against the two prediction market platforms in Nevada and Washington state to move forward, and remanded the cases to state court.The court ruled that the two companies failed to demonstrate that the cases should be under federal court jurisdiction. The platforms' assertion that the Commodity Exchange Act has preemptive effect is not sufficient to automatically establish federal jurisdiction.Kalshi and Polymarket previously argued that contracts on events such as sports and politics are federal derivatives regulated by the CFTC, and that states have no authority to enforce gambling laws against them. However, Nevada and Washington state contend that such contracts constitute unlicensed gambling products.This ruling highlights a growing divide among U.S. courts over whether prediction markets qualify as federally regulated swap contracts or as illegal gambling products under state law.
the U.S. House of Representatives has introduced a new bipartisan bill, the "American Reserve Modernization Act of 2026" (ARMA), which aims to include Bitcoin held by the U.S. government in a strategic reserve and requires a minimum 20-year lock-up period.Unlike the previously proposed BITCOIN Act, the new bill no longer requires the U.S. government to purchase 1 million BTC. Instead, it primarily incorporates Bitcoin already held or acquired in the future through means such as criminal and civil forfeitures into the reserve. Additionally, the bill will establish a separate Digital Asset Stockpile to manage non-Bitcoin crypto assets held by the federal government.According to the draft, Bitcoin entered into the strategic reserve shall not be sold, exchanged, auctioned, hypothecated, or otherwise disposed of for 20 years. After the lock-up period ends, the Secretary of the Treasury may recommend selling up to 10% of the reserve assets within any two-year period.The bill also requires the government to publish quarterly reserve proofs and conduct third-party audits of its Bitcoin holdings. Supporters argue that the U.S. should not sell strategic digital assets but should hold them long-term as part of a modernized national reserve system.
Regarding the China Securities Regulatory Commission’s (CSRC) notice on rectifying illegal cross-border securities, futures, and fund-related activities and associated penalties, Wang Shan, Chief Operating Officer of Tiger Brokers (Hong Kong) Global Limited, stated that the company is aware of the notice issued by the CSRC. The company clarified that the notice does not directly apply to its Hong Kong entity, which is a licensed corporation holding a license issued by the Securities and Futures Commission (SFC) of Hong Kong, operating independently and subject to SFC supervision. (Yicai)
According to Wall Street Insights, Futu Holdings disclosed that it has received investigation notices and a pre-notification letter of administrative penalties from the China Securities Regulatory Commission (CSRC) and its Shenzhen Branch. The CSRC stated that certain Futu-affiliated companies in mainland China and Hong Kong conducted securities business, public fund sales business, and futures business in mainland China without obtaining the required licenses or approvals, allegedly violating the Securities Law, the Securities Investment Fund Law, and the Futures and Derivatives Law. The CSRC intends to order the relevant companies to rectify or cease such activities, confiscate unlawful gains, and impose fines totaling approximately RMB 1.85 billion. Additionally, the CSRC intends to impose a fine of RMB 1.25 million on Li Hua, Futu’s founder and CEO.
On the 19th of this month, Trump signed an executive order requiring enhanced scrutiny of banking activities conducted by non-citizens in the United States and directing the U.S. Department of the Treasury to issue formal guidance to financial institutions for identifying and reporting suspicious activities—including evasion of payroll taxes, concealment of true account holders, and off-the-books wage payments. Citing the need to restore integrity in the financial system and guard against structural risks, the executive order requires the U.S. Department of the Treasury, the Consumer Financial Protection Bureau (CFPB), and federal financial regulators to promulgate new rules within 60 to 180 days. These rules include strengthening customer due diligence for individuals without work authorization and their employers; incorporating potential deportation and income loss into assessments of loan repayment capacity; and intensifying investigations into illicit financial activities designed to circumvent the Bank Secrecy Act (BSA)—such as misuse of Individual Taxpayer Identification Numbers (ITINs), shell companies, and transaction structuring.
According to Securities Times, the China Securities Regulatory Commission (CSRC), in collaboration with eight other ministries and commissions, issued the “Notice on Regulating Cross-border Securities, Futures, and Fund Business Activities of Mainland Chinese Investors,” further clarifying regulatory requirements for such industry-related business activities. Tiger Brokers stated that it will strictly adhere to the industry-wide regulatory standards promulgated by regulators and steadily advance its compliance efforts. Tiger Brokers noted that since 2023, the company has fully ceased opening accounts for users holding mainland Chinese identities and simultaneously halted all external advertising, marketing promotions, and related activities. It has also continuously strengthened account review, identity verification, and anti-fraud management mechanisms. As of the end of the first quarter of 2026, mainland Chinese clients’ assets accounted for approximately 10% of the Group’s global total assets.
According to CNBC, James Comer, Chairman of the U.S. House Committee on Oversight and Government Reform, has launched an investigation into prediction market platforms Kalshi and Polymarket, demanding that both companies detail their measures to prevent insider trading—including identity verification, enforcement of geographic restrictions, and mechanisms for detecting anomalous trading activity. Comer stated that internal records from these platforms are critical for identifying improper traders and assessing whether the platforms have fulfilled their legal obligations. Previously, Polymarket was reported to have hosted suspicious trades related to U.S. actions concerning Iran and Venezuela; Kalshi had also suspended the accounts of three congressional candidates who placed bets on their own election outcomes. Comer has directed both companies to submit the relevant documents by June 5.
According to Securities Times, on May 22, the China Securities Regulatory Commission (CSRC) and the Securities and Futures Commission (SFC) of Hong Kong jointly issued notices updating guidance on cross-border securities, futures, and fund business activities involving mainland Chinese investors. Futu stated that these guidelines and regulations represent unified industry-wide requirements, and it will steadily advance its compliance efforts strictly in accordance with regulatory requirements. Futu emphasized that it had earlier completely ceased opening accounts for applicants holding mainland Chinese identity documents and has continuously strengthened efforts against fraudulent account openings—rejecting tens of thousands of non-compliant account applications over the past two years. Futu has consistently engaged proactively with regulators and adhered to their rectification requirements. As of the end of Q1 2026, mainland Chinese clients with assets accounted for 13% of the Group’s total clients with assets.
Odaily Odaily reports: Futu responds: It has completely stopped opening accounts for applicants with mainland China identity and has been continuously working to crack down on fraudulent account openings, rejecting tens of thousands of non-compliant account applications over the past two years.Futu has always actively communicated with regulatory authorities and complied with rectification requirements. As of the end of the first quarter of 2026, the number of customers with assets in mainland China has dropped to 13% of the total number of customers with assets across the group. (Securities Times)
According to Cointelegraph, prediction market platform Polymarket is seeking entry into the Japanese market and aims to obtain regulatory approval for prediction markets from the Japanese government by 2030. The report states that Polymarket has appointed Mike Eidlin, Japan Head of crypto firm Jupiter, to lead its local operations in Japan and advance related compliance efforts. Japan maintains strict regulation over online gambling, permitting only a limited number of government-authorized activities—such as horse racing and public lotteries. Although Polymarket has not yet received authorization to operate in Japan, its Japanese regional X (formerly Twitter) account has already amassed over 53,000 followers. Meanwhile, under regulatory pressure and amid competition from platforms like Kalshi, Polymarket’s monthly nominal trading volume declined nearly 15% month-on-month in April.
According to Yicai Global, Futu Holdings’ U.S.-listed shares fell over 40% in pre-market trading. On the news front, China’s Securities Regulatory Commission (CSRC) plans to confiscate all illegal gains generated by Tiger Brokers, Futu Holdings, and Longbridge—both domestically and overseas—and impose strict penalties in accordance with the law. In response, a customer service representative stated that the company has taken note of the relevant regulatory developments and is carefully reviewing the details; it will issue an official response once information is complete. Currently, the company’s business operations remain normal, and customers’ account assets and all services are unaffected.