ChainCatcher news, Hong Kong Legislative Council member Wu Jietzhuang tweeted that the Hong Kong Legislative Council has passed the "Stablecoin Bill" in the third reading, expecting to launch a licensing mechanism within the year, allowing institutions to apply to the Monetary Authority to become compliant stablecoin issuers. The bill requires issuers to peg to fiat currency and comply with reserve management, redemption mechanisms, customer asset segregation, anti-money laundering, information disclosure, and other compliance requirements, with regulatory details to be consulted separately. Hong Kong welcomes global companies to apply for issuance in the city.

ChainCatcher news, according to The Block, South Korea will allow certain non-profit organizations and registered cryptocurrency exchanges to sell their crypto assets starting in June, and announced strengthened anti-money laundering (AML) and know your customer (KYC) regulatory measures for institutional clients.This move paves the way for gradually lifting the ban on institutional investment in cryptocurrencies. The Financial Services Commission (FSC) requires exchanges and partner banks to "thoroughly" review the source of funds and transaction purposes of new institutional clients, and plans to allow listed companies and others to trade on exchanges in the second half of 2025.

ChainCatcher News, Caroline Crenshaw, the only Democratic commissioner of the U.S. Securities and Exchange Commission (SEC), stated at the SEC Speaks event that the agency's approach to regulating the crypto industry is akin to playing a game of "Jenga." This dangerous dismantling of rules for crypto and the broader market could undermine the SEC's credibility. She warned that the SEC has effectively reversed rules through staff guidance without proper analysis or public input, particularly in the crypto space.Crenshaw also mentioned that the SEC has abandoned enforcement actions in the crypto market, leading to a state of "non-enforcement regulation." She believes this "major turnaround" not only damages the SEC's reputation in court but also raises questions about "long-standing and fundamental case law."

ChainCatcher news, according to Cointelegraph, the new chairman of the U.S. Securities and Exchange Commission (SEC), Paul Atkins, stated in a speech on May 19 that this is a "new era" for the cryptocurrency industry.Atkins pointed out that "the crypto market has been stagnant in the SEC's regulatory gray area for years," and emphasized that under his leadership, the SEC will return to its fundamental mission of "promoting rather than stifling innovation." He has instructed the commission's various policy divisions to begin drafting rule proposals related to cryptocurrencies while continuing to "clear obstacles" through staff-level statements.

ChainCatcher news, according to Cointelegraph, Dubai's cryptocurrency regulator has required licensed digital asset companies to comply with its latest version of the activity-based rulebook by June 19, in order to enhance market integrity and risk regulation.On May 19, the Dubai Virtual Assets Regulatory Authority (VARA) announced the release of the Rulebook 2.0.The Dubai regulator stated that it has strengthened the oversight of margin trading and token distribution services, enhanced the consistency of compliance requirements for all licensed businesses, and provided clearer definitions for collateral wallet arrangements.

ChainCatcher news reports that, according to Punchbowl News, the U.S. Senate is expected to hold a key procedural vote on the stablecoin regulatory bill, the GENIUS Act, as early as the evening of May 19 local time. The bill, introduced by Senator Bill Hagerty, aims to require stablecoin issuers to hold safe and highly liquid assets as reserves and comply with anti-money laundering regulations.Although the bill previously received bipartisan support in the Senate Banking Committee, it failed to pass in the vote on May 8, primarily due to concerns from Democrats about the Trump family's connections to crypto assets. Currently, Senator Mark Warner and others are pushing for amendments to the bill in hopes of reaching a consensus between the two parties.

ChainCatcher news, according to The Wall Street Journal, the enthusiasm of U.S. President Trump and his family for cryptocurrencies has made the industry one of the biggest winners in his second term. Given Trump's vast business interests, critics have raised ethical concerns.Representatives of the Trump family have discussed investing in Binance.US. This would involve the U.S. president conducting business with a company that has acknowledged violations of anti-money laundering laws. Binance executives have also met with officials from the U.S. Treasury to discuss easing government regulations on the company. Binance founder and major shareholder Changpeng Zhao recently stated that his lawyers have formally applied for a pardon. Last year, he served four months in prison due to related charges.The Trump family also owns a company called World Liberty Financial, which was established last September. Trump's sons Donald Jr., Eric, and Barron are all involved in this venture, with the Trump family controlling about 60% of the company's equity. Sun Yuchen invested $75 million in the project, further propelling this momentum. In February, the U.S. Securities and Exchange Commission (SEC) requested the court to suspend a lawsuit accusing Justin Sun and his companies of fraud.Trump's team is trying to push Congress to pass two cryptocurrency bills in the coming months: one to establish the first regulations for stablecoins, and another to specify which crypto products are regulated as securities by the SEC and which are regulated as commodities by the Commodity Futures Trading Commission (CFTC). The Senate is expected to vote soon on its version of the stablecoin bill. Some Democrats oppose the bill, citing potential conflicts of interest for Trump and the activities surrounding stablecoins.

ChainCatcher news, according to DL News, starting from January 1, 2026, cryptocurrency companies operating in the UK will be required to collect and report detailed user and transaction data in accordance with a new regulation introduced by the UK tax authority.This change stems from the UK's adoption of the Crypto Asset Reporting Framework (CARF) — a global standard aimed at combating tax evasion and aligning the transparency of the crypto industry with that of the banking system.Under the new regulation, crypto platforms must identify each user and record their legal identity information, address, and taxpayer identification number.Additionally, platforms must record every transaction involving UK users or users from other CARF participating countries, including details such as transaction amount, asset type, quantity, and nature of the transfer.These requirements also apply to overseas companies providing services to UK customers. If the reported information is incorrect or incomplete, each user may face a fine of up to £300.

ChainCatcher news, according to the Financial Times, Hong Kong crypto investment company Animoca Brands plans to go public in New York. Animoca Brands co-founder Yat Siu stated that Trump's lenient regulation on digital assets provides a "unique opportunity" to enter the world's largest capital market.The company was valued at nearly $6 billion in 2022, currently holds $300 million in cash and stablecoins, digital assets worth $538 million, with an EBITDA of $97 million and revenue of $314 million in 2024.

ChainCatcher news, according to Decrypt, the Australian government has appointed Andrew Charlton as the Assistant Minister for Technology and the Digital Economy, while also serving as Cabinet Secretary, to advance the regulation of digital assets and the modernization of the tech industry. Prime Minister Anthony Albanese stated that Charlton's economic qualifications and international experience make him fully capable of this dual role. This appointment comes as the Australian government strengthens the regulation of digital assets.According to the new regulations, major crypto platforms must obtain an Australian financial services license, while small businesses and non-financial service providers may be exempt. The reform plan aims to align with international standards such as the EU's MiCA and Singapore's Payment Services Act. Caroline Bowle, CEO of BTC Markets, believes that this appointment reflects the government's emphasis on the development of the digital economy. As a former cybersecurity envoy, Charlton was involved in the development of the licensing system for crypto platforms. Additionally, the government is consulting on the issue of "de-banking" by banks and plans to introduce relevant legislative proposals within the year. The Australian Securities and Investments Commission will also update its guidelines on digital assets.

ChainCatcher news, new U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins announced on Monday that the agency will undergo significant changes in its approach to cryptocurrency regulation and outlined details involving issuance and custody. Nominated by President Trump, Atkins articulated these plans during the SEC's fourth cryptocurrency task force roundtable, demonstrating a starkly different approach to digital asset regulation compared to the previous administration."SEC is ushering in a new day," Atkins said. "Policy-making will no longer rely on ad hoc enforcement actions. Instead, the Commission will utilize its existing rule-making, interpretive, and exemption authorities to set standards suitable for market participants."Atkins stated on Monday that he plans to develop guidelines for assets considered securities or "subject to investment contracts." He criticized the previous approach by Gensler, which required companies to visit the SEC, calling it a "ostrich policy—perhaps hoping that cryptocurrency would disappear." "It claims to be willing to talk to potential registrants, 'just come visit,' but that is at most empty rhetoric, more often hypocritical, as the SEC has not made the necessary adjustments to the registration forms for this new technology," he said.Atkins also hinted that custody rules may need updating to allow funds and advisors to engage in self-custody under certain conditions and revealed that the agency may take a new approach to its "special purpose broker-dealer framework." Atkins indicated that the SEC may also consider whether to provide exemption relief for participants looking to bring new products to market. "I want to explore whether conditional exemption relief applies to registrants and non-registrants seeking to launch new products and services that may be incompatible with the current Commission rules and regulations," he said.

ChainCatcher news, CryptoQuant founder and CEO Ki Young Ju posted on the X platform that "dark stablecoins" are likely to emerge in the future. Stablecoins serve as a bridge between the internet and the real world, so there needs to be someone to manage them. So far, companies like Tether and Circle have achieved this by depositing cash reserves in banks. Aside from combating money laundering, governments have not really intervened in stablecoins, allowing various groups, including miners, to use them as a safe asset storage.However, this situation is changing, and stablecoins may face strict government regulation, similar to traditional banks. Those who use stablecoins for large international transfers may start looking for "dark stablecoins" that can withstand censorship. There are two ways to create dark stablecoins: algorithmic stablecoins not controlled by the government and stablecoins issued by countries that do not censor financial transactions.USDT itself was once considered a censorship-resistant stablecoin, and if Tether chooses not to comply with U.S. government regulations under a future Trump administration, it could become a dark stablecoin in an increasingly censored internet economy.

According to ChainCatcher news, as reported by Decrypt, Paschal Donohoe, the President of the Eurogroup and the Irish Minister for Finance, stated at the European Anti-Financial Crime Summit that the EU is advancing new Anti-Money Laundering Regulations (AMLR), which will require crypto asset service providers to record information about the sender and receiver of transactions to achieve transparent regulation of crypto transfers.Previous news indicates that the EU will completely ban anonymous crypto accounts and privacy coin transactions starting in 2027.

ChainCatcher news, according to crypto journalist Eleanor Terrett, the U.S. Senate is scheduled to hold a procedural vote on the updated stablecoin regulatory bill, the "GENIUS Act," at 1:45 PM ET (1:45 AM Beijing time on May 9).It is reported that after late-night negotiations and last-minute text updates between Senate Republicans and Democrats, the voting situation will be a "fierce showdown."

ChainCatcher news, Zhao Changpeng stated on social media that he has personally attended the "Emerging Technology Governance Summit" held in Abu Dhabi and will soon take the stage to speak. According to the conference schedule, Zhao Changpeng will deliver a speech on May 6 at 13:55 Beijing time in a session titled "Web3, Regulation, and the New Digital Economy: A Blueprint for Responsible Innovation," representing Binance and Giggle Academy to discuss Web3 and regulatory issues, promoting the adoption of the crypto industry.

ChainCatcher news, according to Cointelegraph, the Blockchain Association is urging the U.S. Securities and Exchange Commission (SEC) to adopt a flexible and progressive approach to cryptocurrency regulation under its new leadership. The association stated that as blockchain technology rapidly evolves, the SEC should avoid implementing restrictive policies that could hinder technological innovation and the expansion of application scenarios.The association emphasized that overly strict regulation could undermine the U.S.'s competitiveness in the global blockchain industry. Previously, the SEC's regulatory enforcement in the cryptocurrency sector has sparked widespread controversy, including lawsuits against several crypto companies. The Blockchain Association recommends that the SEC establish a regulatory framework that adapts to technological evolution through open dialogue and collaboration with the industry, in order to balance innovation and compliance.