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Odaily news – U.S. Representative Nick Begich has introduced the "American Reserve Modernization Act," which has garnered support from 16 original co-sponsors.The bill proposes establishing a strategic Bitcoin reserve, consolidating digital assets held by the federal government, and locking Bitcoin as a long-term reserve asset for at least 20 years. It also calls for studying budget-neutral Bitcoin purchase strategies and preventing future administrations or Congress from liquidating the reserves in question.Reports indicate that Trump had previously established a strategic Bitcoin reserve through an executive order, and this bill aims to formalize those arrangements into law. (Bitcoin News)
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 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.
According to Cointelegraph, Missouri Attorney General Catherine Hanaway has filed a lawsuit against GPD Holdings—the parent company of cryptocurrency ATM operator CoinFlip—accusing it of “intentionally facilitating fraudulent transactions and profiting from them,” with victims including elderly residents and veterans in the state. The lawsuit stems from a targeted investigation launched by Missouri in December 2025 into multiple crypto ATM companies, which alleged “deceptive fee structures” and fraudulent conduct. The Attorney General’s Office is asking the court to rule that CoinFlip violated the Missouri Merchandising Practices Act, prohibit it from continuing operations in the state, impose a $1,000 fine for each violation over the past five years (capped at $1.826 million), and provide restitution to affected consumers. CoinFlip currently operates 136 crypto ATMs in Missouri and 4,229 nationwide. Notably, Bitcoin Depot—another major crypto ATM operator—filed for bankruptcy earlier this month, and regulatory pressure is intensifying across the entire industry.
Bitcoin treasury company Nakamoto plans to implement a 1:40 reverse stock split to push its share price back above $1, thereby meeting Nasdaq listing compliance requirements.According to the plan, the company's outstanding shares will be reduced from approximately 696.1 million to about 17.4 million after the split, which is expected to take effect on May 22.Previously, Nakamoto reported its Q1 2026 financial results, with a net loss of $238.8 million. Of this amount, approximately $107.7 million came from write-downs related to the acquisition of pre-paid options, while another approximately $102.5 million in losses resulted from the book loss on its holdings of 5,058 BTC during a 23% decline in Bitcoin prices that quarter. (Decrypt)
According to Caixin, the global tax “satellite surveillance system,” CRS 2.0, is accelerating its rollout worldwide. Cryptographic assets, central bank digital currencies (CBDCs), and certain electronic money products have now been included within the scope of financial asset reporting. Hong Kong plans to implement CRS 2.0 by 2028 and simultaneously advance the Crypto-Asset Reporting Framework (CARF). In the future, cryptocurrency exchanges, brokers, and operators of crypto ATMs will be required to report cryptocurrency–fiat currency conversions, cross-cryptocurrency swaps, and domestic and cross-border transfers of cryptographic assets. Reports must precisely specify the full names of assets—for example, Bitcoin (BTC), Ethereum (ETH), and Tether (USDT)—and aggregate data by transaction dimension, including total market value, total holdings, and number of transactions. For retail payment transactions, individual transactions exceeding USD 50,000 must be reported separately. Although mainland China has not yet officially announced a timeline for implementing CRS 2.0, since 2025, tax authorities in multiple regions have begun notifying taxpayers—via phone calls and text messages—to self-report overseas income earned between 2022 and 2024 and fulfill their tax obligations accordingly. It is understood that CRS 2.0 will not only fully expose overseas-held cryptographic assets to tax oversight but may also trigger coordinated scrutiny by other regulatory bodies.
South Carolina Governor has signed Bill S.163. This bill prohibits any government entity from accepting or requiring payment in, or participating in testing of, central bank digital currencies (CBDCs); permits individuals or businesses to transact using digital currencies; stipulates that digital assets must not be treated differently; specifies that digital currency transactions may be taxed only if the tax rate applied is identical to that applied to transactions conducted using U.S. legal tender; restricts certain digital currency operations within areas zoned for industrial use; mandates that digital asset mining operations must not impose any additional strain on the electrical grid to which they connect; requires digital mining enterprises to provide certain information upon request by the Public Service Commission; exempts persons engaged in digital mining operations from obtaining certain licenses; clarifies that persons providing certain services related to digital mining or staking do not constitute securities transactions; authorizes the Attorney General to bring legal action against individuals or entities that fraudulently claim to offer digital asset mining or staking services; and defines necessary terms.
According to Cointelegraph, Yorkville America—the asset management firm behind Trump’s Truth Social—has announced the withdrawal of its three previously filed cryptocurrency ETF applications with the U.S. Securities and Exchange Commission (SEC). The withdrawn applications were for the Truth Social Bitcoin ETF, the Bitcoin and Ethereum ETF, and the Crypto Blue-Chip ETF. The company stated it will shift from the regulatory framework of the Securities Act of 1933 to that of the Investment Company Act of 1940 to offer more innovative products while providing stronger investor protections and tax advantages. However, it did not clarify whether it plans to pursue cryptocurrency ETFs under the new framework.
The Zcash Foundation released its Q1 2026 report, disclosing total liquid assets of approximately $36.7 million, including roughly $12.11 million in cash, 506,556 USDC, 85,412 ZEC (valued at ~$21.2 million), 41.8 BTC (valued at ~$2.85 million), and 12.02 ETH (valued at ~$25,000). The Zcash Foundation added that, although the first quarter of this year saw personnel changes within the Electric Coin Company’s development team and governance-related disputes, network operations remained unaffected, with transactions and block production continuing normally. On the regulatory front, the U.S. Securities and Exchange Commission (SEC) has concluded its investigation without taking any enforcement action, thereby resolving long-standing regulatory uncertainty.
According to chart analysis released by independent analyst Markus Thielen on May 19, the current market capitalization of USDT has reached $189.8 billion, while that of USDC stands at $76.9 billion—both exhibiting long-term upward trends. However, since Bitcoin entered a correction phase in October last year, the total market capitalization of stablecoins has remained largely flat, indicating relatively limited inflows of new capital into the crypto market. Thielen noted that although there is a widespread belief that stablecoins will fully replace traditional payment networks, their primary use cases remain concentrated on crypto trading and portfolio management—still far from achieving mainstream payment adoption. While U.S. policy broadly supports stablecoin development—partly because their reserve assets are often reallocated into U.S. Treasury securities—the gap between current usage and true mainstream payment application remains substantial.
: Bitcoin financial services company Swan Bitcoin (along with its operating entity Electric Solidus Inc. named as defendants) is facing a lawsuit filed in the U.S. Bankruptcy Court for the District of Delaware, with claims approaching $1 billion.The lawsuit was filed by PCT Litigation Trust, aiming to recover crypto assets related to the 2023 collapse of Prime Trust. The plaintiff accuses Swan of using "material non-public information" to transfer funds out of Prime Trust before its failure, thereby avoiding significant losses.According to the court filing, Swan had transferred assets including approximately 11,992 Bitcoin (currently valued at around $917 million) out of Prime Trust before it filed for bankruptcy, along with roughly $22.4 million in fiat currency, $5 million in stablecoins, and 91,444 XRP tokens.The plaintiff also alleges that Swan had ties to a senior executive at Prime Trust, who also served as an external consultant for Swan. This individual is suspected of providing Swan with information prior to regulatory meetings, thereby helping the company withdraw its assets early.Swan Bitcoin responded, stating that the relevant assets belong to client trust property and should not be used for bankruptcy liquidation, expressing confidence that the court will ultimately support its position. (Decrypt)
According to The Block, Bitcoin Depot (BTM), a Nasdaq-listed Bitcoin ATM operator, filed for Chapter 11 bankruptcy protection on the 18th in the U.S. District Court for the Southern District of Texas, announcing an orderly liquidation and asset sale. CEO Alex Holmes stated that increasingly stringent state-level compliance requirements, transaction limit restrictions, and operational bans in certain regions have rendered the company’s existing business model unsustainable. Previously, the company suffered a security breach in April 2026, resulting in a $3.7 million loss; its Q1 2026 revenue declined 49.2% year-on-year, with a net loss of $9.5 million. Currently, all over 9,000 Bitcoin ATMs operated globally by Bitcoin Depot have been taken offline, and its overseas entities—including those in Canada—will also be shut down.
Odaily News: Greg Cipolaro, Research Director at financial services firm NYDIG, stated that the most realistic legislative window for the U.S. Senate's crypto market structure bill is June to early August. If progress cannot be made during this period, the bill may face uncertainty extending beyond the midterm elections or even longer.Earlier, White House crypto advisor Patrick Witt had proposed July 4 as an ideal legislative timeline, but NYDIG considers this target overly optimistic. The bill still needs to clear multiple hurdles, including committee review, a full Senate vote, and House procedures.The bill aims to establish a clear regulatory framework for U.S. crypto assets and is regarded as one of the most critical pieces of legislation this year. However, it has faced repeated delays due to disagreements over stablecoin regulation, ethical clauses, and DeFi rules. The Senate Banking Committee has advanced the draft for a full Senate vote, but it still requires at least 60 votes to pass.Analysts point out that if the bill fails to pass before the election cycle, shifts in Republican and Democratic control of the Senate could further reduce legislative certainty, keeping the industry in a state of regulatory ambiguity.However, if the bill is ultimately passed and signed into law, it would bring regulatory clarity to the market. In particular, Bitcoin is expected to be clearly classified as a commodity, thereby reducing uncertainty for institutional entry. (Cointelegraph)
According to Cointelegraph, cryptocurrency analysts are divided on whether Bitcoin will reenact its historical “Sell in May” pattern in 2026. In the two midterm election years—2018 and 2022—Bitcoin experienced sharp declines in May, falling approximately 30% and 70%, respectively. Analyst Merlijn Enkelaar warned that this historical pattern could repeat, with Bitcoin potentially dropping to $33,000. Joao Wedson, CEO of Alphractal, also noted that if Bitcoin remains persistently below $78,000, the likelihood of a new capitulation phase increases. However, Jeff Ko, Chief Analyst at CoinEx, argued that past crashes stemmed from specific shocks—including the Mt. Gox incident, China’s ICO regulations, the Federal Reserve’s monetary tightening, and the collapses of Terra and FTX—not from calendar-based seasonality. He added that the launch of spot ETFs, corporate treasury allocations, and progress on the CLARITY Act have significantly broadened the institutional buyer base, making a 70–80% deep correction unlikely this cycle. Analyst Michaël van de Poppe highlighted $76,000 as the current critical support level; failure to hold it would likely trigger further downside pressure.
Bitcoin has fallen below the $77,000 mark, hitting a low of approximately $76,720. Analysts attribute the market decline primarily to multiple macroeconomic pressures, including the renewed escalation of tensions between the US and Iran, rising inflation concerns, and increased risk aversion across risk assets. Former US President Donald Trump issued a strong warning to Iran on social media, intensifying geopolitical uncertainty.Meanwhile, rising oil prices have further elevated inflation expectations, with Brent crude climbing to around $111 and WTI rising above $107. This has sparked concerns that the Federal Reserve may maintain higher interest rates for a longer period.The current selling pressure is also compounded by factors such as rising US Treasury yields, a strengthening US dollar, and ETF outflows. Data shows that Bitcoin ETFs saw net outflows of approximately $1 billion in the week ending May 17, ending six consecutive weeks of net inflows.In terms of market sentiment, the Bitcoin Fear and Greed Index has fallen back to 27, re-entering the "fear zone." Analysts believe that short-term trends will remain highly dependent on macroeconomic data and policy expectations. However, some institutions view the current correction as a "healthy digestion" period, suggesting the long-term structure remains unchanged. (The Block)
Thai authorities recently conducted a surprise raid on a suspected illegal Bitcoin mining operation. Abnormally high electricity consumption caused overheating and melting of cables in nearby buildings, prompting law enforcement to carry out a raid on a four-story commercial building. The investigation revealed that the facility allegedly tapped into the main power grid without authorization to supply electricity to multiple Bitcoin mining rigs on the fourth floor, resulting in an estimated electricity loss exceeding $80,000—while its registered monthly electricity bill was only around $11. Police have seized the mining equipment and are conducting further investigations into those involved.
According to the <i>Nikkei</i>, SBI Securities and Rakuten Securities plan to launch cryptocurrency investment trusts. Meanwhile, several major brokerages—including Nomura Securities—have stated they will consider following suit once the regulatory framework is established. A <i>Nikkei</i> survey of 18 major brokerages found that 11 indicated they would consider offering such products after regulations are finalized. SBI Securities plans to sell funds developed by its subsidiary SBI Global Asset Management, covering ETFs and investment trusts focused on highly liquid cryptocurrencies such as Bitcoin and Ethereum; the entire process—from product development to distribution—will be handled internally within the SBI Group. Similarly, Rakuten Securities plans to jointly develop its own products with group members including Rakuten Investment Management, aiming to enable trading of cryptocurrency investment trusts via smartphone apps.
According to a research report released by Binance Research, approximately 11% of illicit cryptocurrency transaction volume was seized in 2025—55 times the global fiat recovery rate (less than 1%). Even after excluding the single Prince Group case involving roughly $15 billion worth of BTC, the remaining seized amount still stands at about 10 times the fiat baseline. Data from on-chain security firms SlowMist and PeckShield shows that between 8.3% and 13.2% of stolen funds were recovered or frozen in 2025, reflecting continuously improving collaboration efficiency among exchanges, stablecoin issuers, and law enforcement agencies. Binance Research notes that blockchain’s inherent transparency is being fully leveraged by regulators and investigators, and the notion that “cryptocurrency is a breeding ground for illicit activity” is gradually becoming an outdated misconception.
According to Russian financial media RBK, the Moscow Exchange is in discussions with multiple brokers regarding cryptocurrency trading solutions. It is currently testing a 7×24全天候 trading model and digital asset deposit/withdrawal functionality, and plans to launch dedicated cryptocurrency accounts. However, due to constraints imposed by the clearing system’s operating hours, round-the-clock trading is unlikely to be implemented in the short term. Meanwhile, Russia’s “Digital Currency and Digital Rights Bill” has passed its first reading. The bill stipulates that Russian citizens may only purchase cryptocurrencies through licensed intermediaries, and that listed cryptocurrencies must meet stringent criteria—including an average market capitalization exceeding 5 trillion rubles over the past two years, an average daily trading volume exceeding 1 trillion rubles, and a trading history of at least five years. In practice, only major cryptocurrencies such as Bitcoin, Ethereum, and Solana meet these requirements.
Bitcoin slumped shortly after the US stock market opened, briefly breaking below the $79,000 mark, with a daily decline of approximately 3%, trading near its lowest level since May. Market consensus suggests this pullback is closely linked to the sell-off in risk assets triggered by a surge in US Treasury yields.Data shows that the yield on the 10-year US Treasury note rose above 4.55%, reaching its highest level in nearly a year, fueling concerns over tightening liquidity and a reassessment of risk assets. Analysts point out that this level previously triggered adjustments in US stocks and policy expectations last year, and is now once again serving as a key pressure signal.Trading firm The Kobeissi Letter stated that the "panic-driven rally" in the bond market is intensifying, with expectations for prolonged high interest rates growing. The market has begun pricing in the possibility of further rate hikes in the future, quickly cooling the previous "euphoria" in risk assets.From a technical perspective, analysts believe that after encountering multiple rejections from resistance above $82,000, Bitcoin's support structure is weakening. In the short term, it may retest the $75,000–$77,000 range, as the market enters a phase of range-bound trading and directional selection. (Cointelegraph)