News linked to this event type.
Odaily Two executives from competing prediction market platforms clashed on X over KYC issues. The incident began when Polymarket's Vice President of Engineering, Josh Stevens, refuted claims that the platform would fully implement KYC. In response, Kalshi's Head of Enforcement, @robertjdenault, cited relevant posts, arguing that Polymarket should have adopted KYC long ago. He claimed that Russians and Iranians were trading freely on the platform, and insiders were also using it wantonly. He added that if Polymarket truly wanted to prevent this, it should either bring all operations into compliance (starting with KYC) or shut down.In response, a Polymarket official, Mustafa, called the Kalshi executive an "idiot" in the comments under the post.
According to CriptoNoticias, Costa Rica’s Legislative Assembly unanimously approved, during its second debate on May 25, an amendment to Law No. 7786, clarifying anti-money laundering (AML) obligations for virtual asset service providers (VASPs) and requiring such entities to register with the General Superintendency of Financial Entities (Sugef).
Odaily News: Costa Rica's Legislative Assembly has unanimously approved amendments to Law No. 7786, establishing specific obligations for virtual asset service providers regarding anti-money laundering, counter-terrorism financing, and counter-proliferation financing of weapons of mass destruction. The new law requires virtual asset service providers to register with the Financial Superintendence General and fulfill obligations including customer identification, due diligence, transaction record keeping, and reporting of suspicious transactions. Penalties for violations range from 5% to 50% of the transaction amount, or between $1,800 and $90,000. The law will take effect three months after its publication.
Chainalysis has released a report indicating that overall compliance standards in the crypto industry are improving, but significant deficiencies remain in the monitoring of indirect fund flows.The report shows that among new institutions entering the crypto industry in 2026, approximately 47% adopted alert standards that would have ranked among the strictest top 10% in the industry five years ago. Chainalysis states that while industry standards for "direct monitoring" (funds coming directly from known illicit sources) have become largely unified, gaps remain in "indirect monitoring" (funds flowing through intermediate addresses).Data indicates that in 2020, only about 10% of institutions met top-tier industry compliance requirements. However, since 2023, this proportion has significantly increased, with newcomers generally adopting stricter monitoring standards. Nevertheless, for risk categories such as ransomware, scam shops, and darknet markets, industry thresholds for indirect monitoring are still commonly 10 to 20 times higher than those for direct monitoring. (Cointelegraph)
According to FinanceFeeds, Italian bank Banca Sella has completed the formal notification procedure under the EU’s Markets in Crypto-Assets Regulation (MiCA) with the Bank of Italy, becoming the first Italian bank authorized to offer fully compliant native digital asset services. These services will focus on institutional-grade crypto-asset custody, receipt, and transfer, and are expected to launch before the end of the current fiscal year’s fourth quarter, initially available only to a select group of clients.
HTX has always actively embraced compliance and is willing to cooperate with all relevant parties in reviews and communications to resolve misunderstandings as soon as possible.
the General Directorate for Gambling Regulation (DGOJ), under Spain's Ministry of Consumer Affairs, has ordered internet service providers to temporarily block access to prediction market platforms Polymarket and Kalshi.Regulators believe that the two platforms, without obtaining Spanish gambling licenses, offer local users prediction trading products based on the outcomes of future events, which may violate local gambling laws. Spanish authorities stated that unlicensed platforms lack necessary consumer protection measures such as identity verification, minor protection, and self-restriction mechanisms.According to reports, the related investigation is expected to last 3 to 4 months. During the investigation period, Spanish users will see a risk warning when accessing the relevant websites. Regulatory authorities may subsequently adopt measures such as fines, permanent restrictions, or requiring the platforms to apply for local licenses. (crowdfundinsider)
The Korean National Police Agency has formulated a comprehensive anti-money laundering response plan and established a specialized task force (TF) led by its Economic Crime Investigation Department, focusing on money laundering crimes involving virtual assets such as USDT. This TF will collaborate with departments handling cybercrime, cyberterrorism response, major crimes, and drug investigations to strengthen the tracing of illicit proceeds and separately apply relevant legal provisions to prosecute money laundering activities. Additionally, the police will enhance training on virtual asset tracing, closely monitor high-value bank accounts linked to domestic cryptocurrency exchanges, and assess money laundering risks associated with unregistered virtual asset exchange points.
SUPERFORTUNE AI posted on X platform, stating that the team is investigating a GUA security incident that occurred on May 27. The incident led to drastic price fluctuations in the token. Preliminary investigations suggest the incident may involve address tampering during a multi-signature transaction.The announcement states that the original plan was to send additionally unlocked tokens to the airdrop claim contract address. However, during execution, the funds were mistakenly sent to a different hacker address. The team noted that this hacker address had never interacted with any SUPERFORTUNE-related addresses before, making an "address poisoning attack" less likely as the attack vector.Furthermore, SUPERFORTUNE stated that its internal processes include a multi-layered address verification mechanism. The team is continuing its investigation into the incident and will update the community on the latest developments subsequently.
According to CriptoNoticias, the Argentine government has submitted a bill targeting gambling addiction to Congress, proposing to prohibit cryptocurrency exchanges from conducting business with illegal gambling platforms. This is dubbed Argentina’s first targeted regulatory measure against the cryptocurrency industry.
in response to The Information's report on "Polymarket planning to require users to complete KYC due to compliance pressure," Polymarket's Vice President of Engineering, Josh Stevens, responded that the report is not true.Josh Stevens stated that Polymarket is currently testing a new beta product, and KYC verification is only required for some trial users during the testing period. There is no new KYC requirement added to the existing Polymarket website.He further stated that once the testing period for this product ends, users will no longer need to undergo KYC to use it.
: The United States Commodity Futures Trading Commission (CFTC) announced that it has jointly filed for an exemption from judgment with Gemini Trust Company LLC regarding the lawsuit initiated against Gemini in 2022.It is reported that the case was filed in June 2022, and both parties reached a settlement agreement in January 2025. After a comprehensive review, the CFTC concluded that the case should not have been brought and would not be pursued under current enforcement standards.The review report identified six major issues, including: the lawsuit was primarily based on statements from a whistleblower known to lack credibility; the investigation targeted Gemini as the victim rather than focusing on the alleged fraudsters; doubts existed regarding the strength of evidence against Gemini; key evidence was not provided to commissioners during their vote; litigation attorneys used deliberative privilege to prevent Gemini from accessing defense materials; and personnel involved were suspected of using regulatory authority to pressure Gemini into a settlement.
: The U.S. Department of Justice has indicted Google software engineer Michele Spagnuolo for allegedly exploiting confidential internal Google information to trade on prediction markets via Polymarket, illegally profiting approximately $1.2 million.According to the indictment, Spagnuolo, operating under the account name "AlphaRaccoon" on Polymarket, placed bets totaling over $2.7 million related to Google's "Year in Search 2025" rankings. He is suspected of obtaining advance access to Google's internal data on the most searched personalities to guide his trading decisions.U.S. prosecutors stated that his actions allegedly violated his fiduciary duties to his employer and constitute insider trading. Google confirmed that the employee has been suspended and is cooperating with law enforcement authorities. Polymarket stated that it has cooperated with U.S. prosecutors and the CFTC, noting that blockchain transactions are transparent and traceable. (TechCrunch)
According to The Block, the White House Office of Information and Regulatory Affairs has received the Commodity Futures Trading Commission’s (CFTC) proposed rulemaking notice on prediction markets and is currently reviewing it. The CFTC stated it will provide further details after the interagency review process concludes. Recently, Trump publicly endorsed CFTC Chair Michael Selig’s position that prediction markets should fall under the CFTC’s exclusive jurisdiction. Over the past year, the CFTC has consistently reinforced its regulatory claims over prediction markets and has filed lawsuits against five states—Wisconsin, Illinois, Arizona, Connecticut, and New York—seeking to restrict Kalshi and Polymarket. TD Cowen believes Trump’s statement is unlikely to alter the legal dispute surrounding this matter in federal court.
According to Bloomberg, the Bank for International Settlements (BIS) stated that it will soon launch trials of Project Agorá—a cross-border digital payments prototype—in partnership with others, conducting real-value transactions. First announced two years ago, Project Agorá is jointly advanced by the BIS, seven central banks, and over 40 regulated institutions. It has now entered a testing phase involving actual fund transfers.
U.S. SEC Chairman Paul Atkins stated that the SEC had long been out of step with new technologies and innovation, causing entrepreneurs to turn to overseas markets. He declared that this phase has ended. Under President Trump’s leadership—and with cooperation from the administration and congressional colleagues—the SEC is providing what it calls “much-needed clarity” to the digital asset market.
According to an official announcement, Aztec Labs has acquired Obsidion—the team behind ZKPassport. The Obsidion team will continue developing ZKPassport while also leading the development of new consumer-facing products. The ZKPassport protocol will remain open-source. Aztec Labs stated that ZKPassport enables users to prove attributes such as age, nationality, or sanctions status using government-issued identity documents—without uploading any personal data to a server and without personal data ever leaving the user’s device. It already supports over 130 countries and regions and has been used for nationality and sanctions compliance verification in the Aztec Network token sale.
TD Cowen stated President Trump’s public support for the CFTC’s stance on regulating prediction markets is unlikely to alter the legal debate surrounding event contracts. TD Cowen Managing Director Jaret Seiberg noted that the matter is now in federal court and cannot be decided by regulatory agencies or the executive branch. He still believes the Supreme Court will ultimately rule on whether Congress, in creating event contracts, preempts state sports betting laws. He added that states still hold the advantage in this debate, and litigation may take two years or more. Seiberg also pointed out that Trump’s post was more about defending CFTC Chairman Selig following a New York Times investigative report, rather than a substantive policy change. (TheBlock)
: Streamex, a tokenized commodity platform, has partnered with Orca, a Solana-based decentralized exchange, to launch a tokenized asset trading market on Solana. This market allows verified qualified investors to buy and sell Streamex's yield-bearing, gold-backed GLDY tokens through regulated on-chain trading pools. The system integrates identity and compliance checks into Streamex's KYC and qualified investor verification process, with trading access limited to approved investors. Transactions are conducted through permissioned liquidity pools on Orca. Investor wallets remain frozen until identity verification and certification are completed, and qualification data is updated on-chain in real time. Streamex and Orca stated that neither party will act as a broker or intermediary for investors reselling GLDY tokens. Orca noted that its automated market maker infrastructure has processed over $500 billion in cumulative trading volume since its launch.
Odaily, Dallas-based United Texas Bank has converted from a Texas state-chartered bank to a national bank approved by the Office of the Comptroller of the Currency, positioning itself as an institution connecting global crypto companies with the U.S. banking system. United Texas Bank stated that it now holds the same federal license as major money center banks and has direct access to the Federal Reserve. The bank currently clears approximately $10 billion in monthly USD transaction volume for global crypto companies. The bank is launching UTB Atomic, a 24/7 AI-driven payment network, paired with its compliance platform UTB Prism Sentinel, to restore around-the-clock crypto liquidity and meet emerging federal rules related to digital assets and stablecoins.