ChainCatcher news, Binance CEO Richard Teng posted on social media that Turkey has approved a new legislative framework for cryptocurrency and crypto asset service providers, marking a positive step forward for the crypto industry.Binance will closely monitor regulatory developments in Turkey and other regions, and firmly supports these developments. Binance will also continue to work with regulators to create a safe and compliant crypto ecosystem for users.

ChainCatcher news, Coinbase emphasized the significant impact of regulatory developments on the U.S. cryptocurrency market in its "Weekly Market Review" released on May 17. Coinbase stated, "The macro economy remains a key driver of cryptocurrency performance, although we believe the upcoming major catalysts may be regulation-driven."Upcoming regulatory events include the U.S. Securities and Exchange Commission (SEC) decision on the spot Ethereum exchange-traded fund (ETF), potential actions by the White House regarding the SEC's SAB 121 repeal bill, and the U.S. House of Representatives voting on the "Financial Innovation and Technology for the 21st Century Act" (FIT). Potential stablecoin legislation, such as the "Lummis-Gillibrand Payment Stablecoin Act," may also accelerate this adoption cycle.