News linked to this event type.
According to The Block, JPMorgan analysts noted in their latest report that tokenized money market funds currently account for only about 5% of the stablecoin market size and are expected to continue growing—but unless there is a significant shift in the regulatory environment, they are unlikely to surpass a market share ceiling of 10%–15%. The analysts believe stablecoins remain the preferred cash instrument in the crypto ecosystem due to their widespread use in trading, settlement, cross-border payments, and liquidity management. In contrast, tokenized money market funds—classified as securities—are subject to structural regulatory disadvantages, including requirements for registration, disclosure, and transfer restrictions, making them difficult to circulate freely within on-chain ecosystems. Although the U.S. SEC has introduced streamlined processes for issuing on-chain money market funds, JPMorgan analysts view this as only a “marginal improvement,” insufficient to fundamentally alter the market dynamics between these two asset classes.
According to Decrypt, Missouri Attorney General Catherine Hanaway has filed a lawsuit against Bitcoin ATM operator CoinFlip, accusing it of “knowingly facilitating fraudulent transactions” and seeking a $1.83 million fine as well as a ban on its operations in the state. CoinFlip responded that the lawsuit is “baseless” and urged authorities to instead investigate the actual criminals. Against this backdrop, U.S. states are intensifying regulatory crackdowns on Bitcoin ATMs—particularly targeting scams targeting elderly individuals. FBI data shows that related losses reached $389 million in 2025.
According to Bloomberg, Michael Novogratz, founder and billionaire CEO of Galaxy Digital, faced off in court this week against Mike Belshe, CEO of BitGo Holdings, in a four-year-long merger dispute. BitGo is seeking at least $100 million in breach-of-contract damages from Galaxy, stemming from Galaxy’s $1.2 billion acquisition proposal for BitGo in 2021—the largest deal in cryptocurrency industry history at the time—which ultimately collapsed amid the crypto market downturn. BitGo alleges that Galaxy failed to use reasonable efforts to consummate the transaction and concealed material details regarding U.S. regulatory investigations into Galaxy—investigations that could have significantly impacted the merger’s completion.
Odaily, SEC Commissioner Hester Peirce stated that the SEC’s “innovation exemption” for tokenized stocks is expected to apply only to on-chain equity products.She pointed out that synthetic tokens that merely mimic stock price performance but do not carry full shareholder rights are expected to be ineligible for the relevant regulatory exemption. (Cointelegraph)
U.S. Senator Cynthia Lummis of Wyoming stated, “No rules do not mean no harm—rather, they mean no recourse,” and reiterated her long-standing advocacy for the passage of the Clarity Act, emphasizing that the bill aims to establish a clear regulatory framework for digital assets in the United States.
MoonPay has announced the launch of a new platform, MoonPay Trade, designed for banks, fintech companies, and enterprise clients. It provides unified access to tokenized assets, decentralized finance (DeFi) protocols, and stablecoin liquidity across over 200 blockchain networks.The platform is powered by Decent.xyz, a cross-chain routing infrastructure company recently acquired by MoonPay for a reported "high eight-figure USD amount." MoonPay stated that this product will serve as the core execution layer for its institutional business, MoonPay Institutional, which is led by former Acting Chairman of the U.S. Commodity Futures Trading Commission (CFTC), Caroline Pham.MoonPay Trade will support subscriptions for tokenized funds, collateral transfers, and integrations with DeFi protocols such as Aave, Morpho, and Maple Finance, enabling institutions to conduct lending and yield generation operations directly on-chain.Industry data shows that the current scale of tokenized real-world assets (RWA) has exceeded $33 billion, growing threefold within a year. Traditional financial institutions, including BlackRock, Franklin Templeton, and JPMorgan, have successively launched tokenized fund products, accelerating the influx of institutional capital into on-chain finance.MoonPay stated that as institutions continue to advance their tokenized asset strategies, its goal is to provide traditional financial institutions with the infrastructure capabilities for compliant access to on-chain markets through a unified interface. (CoinDesk)
: The U.S. Commodity Futures Trading Commission (CFTC) has signed a Memorandum of Understanding (MOU) with the National Hockey League (NHL) to strengthen the regulation of prediction markets. The two parties will enhance information sharing and collaboration to safeguard the fairness and integrity of the market for contracts related to professional hockey games and related events. This includes strengthening their existing event integrity monitoring systems and improving their ability to identify, prevent, and respond to potential risks. As platforms like Kalshi and Polymarket continue to gain traction, especially following the 2024 U.S. election cycle, sports and event-based prediction markets are increasingly moving into the mainstream financial and regulatory spotlight. (The Block)
a16z Crypto published an article exploring the fundamental contradiction between blockchain “censorship resistance” and “low latency,” pointing out that any Byzantine Fault Tolerant (BFT) blockchain protocol with censorship resistance, where more than one-fifth of validators could be malicious, requires at least 5 rounds of communication for its optimal good-case latency, whereas traditional BFT consensus only requires a minimum of 3 rounds.The article notes that in traditional BFT protocols, the block proposer holds the power for both block construction and consensus progression, allowing them to censor by excluding specific transactions. This is also a major source of the MEV problem. To address this issue, Ethereum is researching FOCIL / EIP-7805, while Solana is exploring mechanisms like Constellation and MCP. The core idea behind these approaches is to have validators proactively collect "Inclusion Lists" of transactions that cannot be ignored before a block is formally proposed.a16z Crypto states that achieving censorship resistance requires two additional rounds of communication: first, user transactions must be broadcast to all validators, and then the validators need to confirm and write these into an inclusion list before the consensus process can begin. Therefore, in a partially synchronous network environment, there is no protocol design that can achieve both BFT and censorship resistance in just 4 rounds; 5 rounds represent the mathematical lower limit.The article emphasizes that while a censorship-resistant mechanism increases protocol latency, it can significantly reduce the "effective latency" users actually experience. In a system lacking censorship resistance, transactions may be indefinitely delayed due to validator censorship. Conversely, in a system with censorship resistance guarantees, transactions will be included in a block within a maximum of 5 rounds of communication, making transaction confirmation times more predictable.
Odaily Reports: According to market sources, Blockchain.com has confidentially submitted a U.S. IPO application.
Former U.S. Commodity Futures Trading Commission (CFTC) Chairman Christopher Giancarlo will join investment bank Jefferies Financial Group in July as a senior advisor focusing on investment banking. During his tenure, Giancarlo led the approval of the first batch of bitcoin futures contracts listed on CBOE and CME, and held a relatively lenient stance on crypto regulation, earning the industry nickname "CryptoDad."In recent years, Jefferies has positioned itself as a "full-stack crypto and blockchain investment bank," having completed approximately 14 digital asset transactions totaling around $9 billion; since 2011, it has completed about 100 transactions in market structure and technology sectors, totaling roughly $141 billion; currently, about 15 employees are dedicated to crypto business. Giancarlo stated that he will leverage his regulatory network to help Jefferies deepen its digital asset-related investment banking business layout. (Bloomberg)
Seturion, a tokenized securities settlement platform under the Stuttgart Stock Exchange Group, is collaborating with Société Générale, its crypto subsidiary SG-Forge, and online broker flatexDEGIRO to build a blockchain-based securities settlement system in Europe. Société Générale will issue tokenized structured securities—such as Turbo warrants and investment certificates—on its Seturion platform. SG-Forge, which holds a crypto-asset market operator authorization from French regulators, will use its CoinVertible euro and U.S. dollar stablecoins (EURCV and USDCV) for transaction settlement. Meanwhile, flatexDEGIRO will connect the platform to its European retail distribution channels for tokenized securities trading.
Odaily Odaily News According to the updated information on the official website of the Hong Kong Securities and Futures Commission, NewBX Limited’s digital asset trading platform Bixin has obtained a virtual asset trading platform operating license. The institution is authorized to conduct regulated activities of Type 1 (dealing in securities) and Type 7 (providing automated trading services), and has also been licensed under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance to operate a virtual asset trading platform. As of now, the total number of licensed virtual asset trading platforms in Hong Kong has increased to 13, with 6 applicants for virtual asset trading platform licenses.
According to Businesswire, Payward, the parent company of Kraken, announced that it has received preliminary approval from Dubai’s Virtual Assets Regulatory Authority (VARA) in the United Arab Emirates for brokerage, trading, investment, and management licenses. Payward plans to expand its crypto business in the UAE and expects to offer spot, margin, and OTC trading, staking services, and Kraken Prime—its institutional offering—through a locally regulated entity. It will also support peer-to-peer crypto-asset transfers.
According to TASS, Ivan Chebeskov, Deputy Minister of Finance of Russia, stated that the Ministry of Finance is jointly refining the cryptocurrency market regulation bill with the Central Bank of Russia, and revisions are expected to be completed before its second reading in the State Duma next week. Under the regulatory framework previously proposed by the Central Bank of Russia, digital currencies and stablecoins will be classified as monetary value—allowing them to be bought and sold—but they may not be used as payment instruments within Russia. Non-qualified investors who pass a test may purchase highly liquid cryptocurrencies worth up to 300,000 rubles per year through a single intermediary.
Missouri Attorney General Catherine Hanaway has filed a lawsuit against CoinFlip operator GPD Holdings, alleging that the cryptocurrency ATM network facilitated fraudulent transactions while charging high fees, violating the state's consumer protection laws.Over the past two years, Missouri has reported approximately 350 cases related to cryptocurrency ATMs, with losses potentially reaching millions of dollars. The lawsuit seeks consumer restitution, civil penalties of up to $1.826 million, and an injunction barring the company from operating in the state. (The Block)
According to The Block, the wife of Sebastien Borget, co-founder and Chief Operating Officer of the metaverse project The Sandbox, was the target of an attempted kidnapping this week at their residence in Villenoy, France. As reported, the suspect gained access to the property posing as a delivery person; subsequently, five other masked accomplices broke in and attempted to forcibly take her to a vehicle. The attempt failed after neighbors heard her cries for help and intervened. French authorities have arrested two suspects, while four others remain at large. French media report that preliminary investigations suggest the incident may be linked to cryptocurrency. Data shows that since January 1, 2026, France has recorded 41 kidnappings or attempted kidnappings related to cryptocurrency.
FocusAI, the largest shareholder of the Busan Digital Asset Exchange, is moving forward with the acquisition of the South Korean cryptocurrency exchange Flybit. Both parties are in the final stages of discussions regarding details such as the share transfer from Flybit's largest shareholder and representative director, Kim Seok-jin.Flybit registered as a virtual asset service provider in 2021 but has since exited the Korean won market after failing to establish a real-name account partnership with a bank. Through this acquisition, FocusAI plans to build a composite digital asset platform that manages cryptocurrencies, real-world assets, and tokenized securities. The transaction is still subject to a review by the Financial Intelligence Unit regarding the change of major shareholder. (bizwatch)
According to The Block, IG Europe has partnered with Bitpanda to expand its digital asset product offerings across the European Union, driven by rising client demand for exposure to crypto assets. IG Europe stated that this move will provide European investors with a broader range of asset classes. IG Europe is part of IG Group and is regulated by Germany’s Federal Financial Supervisory Authority (BaFin). Recently, IG Group acquired Australian crypto exchange Independent Reserve, secured a Markets in Crypto-Assets (MiCA) license enabling it to offer crypto products and services across the EU, and sold its previously acquired futures trading platform Small Exchange Inc. to Kraken. As of the end of 2025, Bitpanda had at least 7.4 million registered users.
According to K33’s official announcement, K33 AB (publ) released its Q1 2026 interim report on May 21, 2026. Revenue for the quarter reached 739,822 kSEK, representing a 64% year-on-year increase and a 73% sequential increase, despite an approximately 15% decline in overall spot market trading volume during the period. K33 Markets’ rolling 12-month trading volume amounted to approximately SEK 2.7 billion. Impacted by the decline in Bitcoin’s price, the quarter’s net loss widened to -35,815 kSEK (compared to -4,033 kSEK in the same period last year), with EBITDA at -6,103 kSEK. Operationally, K33 launched a crypto-asset collateralized lending service this quarter, completed a major platform upgrade with full bank integration, and expanded its Bitcoin strategic exposure through the acquisition of a 46% equity stake in Sixty Six Capital. The company stated it is prepared for MiCA compliance approval, which is expected in late Q2. Following the end of the quarter, Bitcoin’s price rebounded significantly, positively impacting the valuation of the Group’s Bitcoin exposure.
the U.S. SEC is seeking public comments on prediction market ETFs and has postponed the approval process for related "new-type ETFs."SEC Chairman Paul Atkins stated, "New products bring new questions," indicating that regulators need to further assess the impact of such products. Previously, Bitwise, Roundhill, and GraniteShares have submitted applications for prediction market ETFs, which would track the outcomes of events such as U.S. elections.Bloomberg ETF analyst Eric Balchunas noted that the SEC is currently evaluating prediction market ETFs cautiously, similar to its previous approach to spot crypto ETFs. (Cointelegraph)