News linked to this event type.
that, according to data submitted by the Bank of Korea to the National Assembly, the total value of crypto assets held by South Korean investors fell from 121.8 trillion won (approximately $83.3 billion) at the end of January 2025 to 60.6 trillion won (approximately $41.4 billion) at the end of February 2026, a decline of over 50% within a year. During the same period, the average daily trading volume on South Korea's top five exchanges—Upbit, Bithumb, Korbit, Coinone, and Gopax—dropped from $11.6 billion in December 2024 to $3 billion in February this year. The total Korean won deposits on these exchanges also decreased from 10.7 trillion won to 7.8 trillion won, reflecting that some funds are flowing into the South Korean stock market.However, stablecoin holdings have remained relatively resilient. Data shows that South Korean stablecoin holdings peaked at $597 million in December 2024 before falling to $41 million in February this year, a decline significantly smaller than that of the broader crypto market.Additionally, South Korean regulators plan to implement stricter anti-money laundering rules in August, which will automatically flag as suspicious any transactions involving overseas exchanges or private wallets exceeding 10 million won. The Digital Asset Exchange Alliance (DAXA) has warned that this measure could drive users toward offshore platforms such as Binance.Meanwhile, the South Korean Ministry of Economy and Finance recently confirmed for the first time that a 22% tax rate on crypto gains will officially take effect on January 1, 2027. (Cointelegraph)
According to PRNewswire, market analysis reports indicate that Coinbase and Kraken together account for 22% of all AI mentions across the cryptocurrency category—Coinbase accounts for 13%, and Kraken for 9%—holding a lead over other U.S. trading platforms by more than threefold. Gemini ranks third with 5.5%, Robinhood Crypto fourth with 5%, and BlackRock’s spot Bitcoin exchange-traded fund (ETF), IBIT, fifth with 4.5%, dominating queries related to “Bitcoin ETFs.” Additionally, hardware wallets are losing influence in AI responses: while Ledger and Trezor still dominate queries related to “cryptocurrency wallets,” AI increasingly recommends custodial solutions offered by regulated trading platforms when addressing questions about the “best way to store cryptocurrency assets.” (Note: “AI mentions” refers to how frequently an AI chatbot references a particular brand, product, or company when responding to user queries.)
According to the New Straits Times, in the case involving “12 Malaysian police officers allegedly conspiring to rob eight Chinese citizens of 50,000 USDT” that occurred in February this year, the victims’ legal counsel criticized the police for excessively delaying their investigation and warned that if internal cover-ups are confirmed, they would file a complaint with Malaysia’s Malaysian Anti-Corruption Commission (MACC). Previously, the police were accused of forcibly entering the victims’ residence under the pretext of an “anti-fraud raid,” coercing the victims into transferring cryptocurrency assets despite having no evidence of criminal activity. In his latest response, the Inspector-General of Police stated that all implicated officers have been suspended from active duty; however, the investigation remains pending due to the lengthy process required for cryptocurrency forensic analysis and technical reporting, and the case continues to be investigated as one of “conspiracy to commit robbery.”
According to Finance Feeds, the Estonian Financial Supervision and Resolution Authority (EFSA) has issued an investor warning against BB Trade Estonia OÜ, the operator of the Zondacrypto exchange, for failing to publish a white paper for the “TeamPL” token listed on its platform, as required under the EU’s Markets in Crypto-Assets Regulation (MiCA). This constitutes a violation of Article 9(1) of MiCA, which mandates transparency and investor disclosure obligations. This latest warning—coming amid previously reported withdrawal difficulties and ongoing cross-border investigations—continues to intensify regulatory pressure on the exchange.
According to the New Era newspaper, Rwanda’s lower house of parliament passed a virtual asset regulation bill on May 5, aiming to regulate cryptocurrency transactions, protect investors, and maintain financial system stability. The bill stipulates that individuals operating virtual asset businesses without authorization face imprisonment for three to five years and fines ranging from 30 million to 50 million Rwandan francs; enterprises may be fined up to 100 million Rwandan francs. The Capital Markets Authority will serve as the primary regulatory body, coordinating enforcement efforts with the National Bank of Rwanda. The bill is currently pending presidential assent and publication in the Official Gazette before it enters into force. Detailed implementing regulations will be formulated after the law takes effect.
U.S. SEC Commissioner Hester Peirce stated in a speech that she does not endorse certain speculative phenomena currently present in the market; financial products that function like lotteries—sparking hopes of short-term wealth—may fade as investor interest wanes. Alex Thorn, Head of Research at Galaxy Digital, shared the remarks, noting that Peirce anticipates the underlying legal, technological, and market infrastructure supporting these products could be repurposed in the future for more enduring investment and risk-management products. Meanwhile, Nate Geraci, President of The ETF Store, commented that the SEC’s balancing of regulation and innovation is reassuring, and he speculates that the compliant yet controversial products described by Peirce are in fact “prediction-market ETFs,” which he expects will soon receive approval for listing.
According to FOX reporter Charles Gasparino, the U.S. Commodity Futures Trading Commission and the U.S. Securities and Exchange Commission are currently strengthening their collaboration on the regulatory boundaries of prediction markets and have maintained a consistent stance in recent investigations into anomalous transactions related to the Iran conflict.Charles Gasparino stated that although it is widely believed prediction markets are primarily regulated by the CFTC, the SEC will also become deeply involved when related prediction contracts may be legally classified as "securities." He also revealed that, in addition to the cases already made public, regulatory agencies may launch more enforcement actions targeting prediction markets in the future.
: Nate Geraci, President of The ETF Store, posted on platform X, stating that SEC Commissioner Hester Peirce recently mentioned in a speech that the regulatory body is attempting to strike a balance between regulation and innovation.Nate Geraci believes that such remarks may be related to prediction market ETFs, and stated that this type of ETF product could be launched soon.
According to Reuters, on May 8, Andrew Bailey, Governor of the Bank of England, stated at the Bank of England’s Financial Imbalances Conference that international unified standards must be established for stablecoins to become part of the global payment system—a move that would directly clash with the Trump administration. Bailey also expressed concern that certain U.S. stablecoins cannot be directly redeemed for U.S. dollars during crises and instead require intermediation through cryptocurrency exchanges, posing liquidity risks. He warned that, in the event of a stablecoin run, funds would flood jurisdictions—including the UK—that impose mandatory redemption obligations. Bailey currently serves as Chair of the Financial Stability Board (FSB) and has long maintained a cautious stance toward cryptocurrencies.
South Korea plans to impose a 22% tax on virtual asset gains exceeding 2.5 million won starting January next year. Officials have confirmed that the timeline will proceed as scheduled. The policy faces calls for repeal from the opposition, and there is a possibility of further postponement. (Bitcoin News)
the World Uncertainty Index has climbed to its third-highest level in history, with the current value surpassing those observed during the dot-com bubble and the global financial crisis. (Cointelegraph)Odaily Note: The World Uncertainty Index (WUI) is a forward-looking pressure indicator that primarily reflects the sense of uncertainty among economic agents (businesses, households, investors) regarding the future economic, political, and policy environment. It helps analyze how uncertainty impacts economic growth, investment decisions, and financial markets. The global WUI has reached historical highs multiple times over the past decade, particularly under the influence of overlapping multiple crises.
Wasabi Protocol released a security incident update, stating that the attacker exploited a Spring Boot Actuator configuration vulnerability in its AWS infrastructure to steal private keys controlling EVM smart contracts, and subsequently drained approximately $4.8 million in user funds and $900,000 from the protocol’s treasury—totaling roughly $5.7 million in losses. The attack chain originated from a public-facing analysis server whose Actuator heap dump was not properly password-protected, enabling the attacker to obtain credentials for another server and ultimately gain control of the smart contract private keys. This incident affected only EVM deployments—including certain treasuries on Ethereum, Base, Blast, and Berachain—while Solana deployments and the Prop AMM remained unaffected. No final user compensation plan has been announced yet; however, “ensuring all affected users are compensated” remains the team’s top priority. Updates on the investigation will be shared with the community via Discord.
According to BusinessMirror, the Bangko Sentral ng Pilipinas (BSP) issued a warning on May 8 urging the public—especially cryptocurrency users—not to transact with unauthorized Virtual Asset Service Providers (VASPs). The BSP noted that such activities carry operational risks including fraud, cyberattacks, and insolvency, as well as a lack of legal recourse. The BSP stated it will collaborate with regulatory bodies such as the Securities and Exchange Commission (SEC) and the National Telecommunications Commission (NTC) to strengthen market oversight, restrict Filipino access to unauthorized platforms, and call on consumers to protect their personal information, practice good cybersecurity hygiene, and transact only with licensed entities.
According to Reuters, Carolyn Rogers, Senior Deputy Governor of the Bank of Canada, stated that regulatory rules for domestic stablecoins in Canada are under development. The original timeline targeting an early-2027 launch is considered aggressive, and the actual launch may be delayed to mid- or late-2027.
The WeChat official account of the Haidian District People’s Court of Beijing Municipality disclosed a case involving “doxxing” using virtual currencies. Between 2023 and 2025, the defendant illegally obtained personal information of Chinese citizens via encrypted communication tools and other channels—acquiring over 900 million pieces of personal data in total—and built a “social engineering database” website storing over 170 million pieces of citizens’ personal information. The defendant also profited by selling such information, receiving payments exclusively in virtual currencies. Additionally, the defendant used encrypted communication tools to establish “doxxing” and “outing” chat groups for disseminating illegal content, including privacy violations. The court convicted the principal offender, Lin某某, of the crimes of infringing upon citizens’ personal information and illegally utilizing information networks, sentencing him to seven years’ imprisonment and imposing a fine of RMB 70,000.
Odaily, the State Duma Committee on State Building and Legislation has recommended the first reading of a government bill imposing criminal liability for the illegal mining of cryptocurrencies. The bill adds a new Article 171.6 to the Criminal Code of the Russian Federation, holding individuals accountable for mining activities not included in the state register, as well as for providing mining infrastructure operation services without a license.If the illegal income or damages exceed 3.5 million rubles, the penalty could be a fine of up to 1.5 million rubles or up to two years of compulsory labor. If committed by an organized group or if the income exceeds 13 million rubles, the maximum fine rises to 2.5 million rubles, with a potential prison term of up to five years. In all violation cases, the mined cryptocurrencies will be confiscated. Currently, approximately 50,000 entities are engaged in mining in Russia, but only 1,489 are registered in the state register.
Arthur Hayes stated at the Consensus Miami 2026 event that 99% of altcoins could drop to zero, which is part of a normal market cleansing. Since 1929, approximately 98% of companies in the S&P 500 have gone to zero, meaning most stocks are also altcoins over the long term. Cryptocurrencies crash faster due to 24/7 trading and a lack of restrictions. He suggests viewing tokens as software; the failure of most software projects due to an inability to attract users is a normal business reality.The price and future value of Bitcoin depend on the total amount of fiat currency and the speed at which it is created, and are unrelated to politics or regulation. Bitcoin is currently trading at around $82,000, and its utility lies in allowing users to transfer value outside the traditional financial system. Centralized crypto companies seek regulation to protect their businesses, but this will not impact the validity of Bitcoin or cryptocurrencies.
Alex Thorn (@intangiblecoins), Head of Research at Galaxy Research, published a post revealing that Galaxy Research has released a new report refuting banking industry claims that the GENIUS Act would erode U.S. bank deposits—and providing quantitative estimates. Key findings from the report include: - Under the GENIUS Act framework, 60%–70% of new stablecoin issuance would originate overseas; inflows of foreign deposits would be approximately twice the volume of domestic deposit migration—indicating a net increase in total deposits rather than a zero-sum reallocation. - Each newly minted GENIUS stablecoin would generate approximately $0.32 in net credit for the U.S. economy. - In the base-case scenario, total credit expansion by 2030 would reach roughly $400 billion; under the optimistic scenario, it could reach $1.2 trillion. - Short-term U.S. Treasury yields (T-bills) would compress by 3–5 basis points, potentially saving taxpayers up to $3 billion annually in borrowing costs. - The report also notes that the interest pass-through mechanism does not pose an existential threat to U.S. banks—it merely represents a reallocation of profit margins and will not reduce overall credit capacity.
Odaily报道，美国马萨诸塞州参议员伊丽莎白·沃伦致信Meta首席执行官马克·扎克伯格，要求其就稳定币整合相关事宜作出回应。伊丽莎白·沃伦表示，鉴于Meta此前发行Libra的尝试，其在稳定币计划上缺乏透明度令人不安。她要求马克·扎克伯格在5月20日前提供稳定币试验的细节，包括推出日期、涉及的第三方稳定币及隐私保护机制。Meta已于4月向菲律宾和哥伦比亚的部分创作者推出USDC支付功能。美国参议院银行委员会目前正在审议旨在建立数字资产框架的CLARITY法案。
According to CoinDesk, Payward, Kraken’s parent company, announced on May 9 that it has submitted an application to the U.S. Office of the Comptroller of the Currency (OCC) for a national trust company charter. If approved, Payward National Trust Company (PNTC) will be established to provide federally regulated digital asset custody and fiduciary services to institutional and individual clients.