Texas Legislature passes Bitcoin Reserve Bill, awaiting Governor's signature

Today's news tips:

Today's news tips:

Regulatory/Macro

Chairman of the U.S. SEC: Promote transparency and accountability of SEC regulation in the crypto space, and avoid excessive regulation when formulating rules

According to the official website of the U.S. SEC, its chairman Paul S. Atkins said that in the coming period, he will give priority to promoting the SEC's regulatory transparency and accountability mechanism, especially in the field of digital assets. He also emphasized that the SEC should conduct strict cost-benefit analysis when formulating rules to avoid excessive regulation that has an adverse impact on market innovation.

The Hong Kong Legislative Council passed the Stablecoin Bill in the third reading, and applications for compliant issuance will be accepted from the end of the year

Hong Kong Legislative Council member Wu Jiezhuang announced on X that the Hong Kong Legislative Council has passed the Stablecoin Bill in the third reading. It is expected that before the end of this year, institutions can apply to the HKMA to become compliant stablecoin issuers. Global companies are welcome to apply to Hong Kong.

SEC Delays Decision on XRP and Dogecoin ETFs and Seeks Public Comments

The U.S. SEC announced that it would postpone the decision on the three ETF proposals of 21Shares Core XRP Trust, Grayscale XRP Trust and Grayscale Dogecoin Trust, and launched the public comment process.

Texas Legislature passes Bitcoin Reserve Bill, awaiting Governor’s signature

The Texas Legislature passed the Texas Strategic Bitcoin Reserve and Investment Act (SB 21), authorizing the state government to invest in Bitcoin. The bill has been submitted to Governor Greg Abbott, and if signed, it will make Texas the third state to establish an official Bitcoin reserve after New Hampshire and Arizona.

New SEC Inspector General Makes Fighting Crypto Fraud a Top Priority

Katherine Reilly, the new acting inspector general of the U.S. SEC, has listed cryptocurrency fraud as the primary regulatory priority. Her office's October 2024 report showed that cryptocurrency fraud accounted for 18% of the total complaints from SEC investors, and retail investors lost $3.96 billion in 2023.

The U.S. SEC sued Unicoin and its three executives, accusing them of raising more than $100 million in fraudulent crypto asset issuance

The Securities and Exchange Commission (SEC) announced today that it sued Unicoin and its three executives for allegedly engaging in a fraudulent scheme to deceive investors in crypto asset offerings, raising over $100 million from more than 5,000 investors.

Attendees of New York's First Crypto Summit Urge Mayor Adams to Repeal BitLicense

The first-ever crypto summit in New York City was held on May 20 at the New York Public Library.

US SEC Commissioner Peirce: NFT royalty mechanism does not make tokens securities

Hester Peirce, a member of the U.S. Securities and Exchange Commission (SEC), made it clear in a public speech that NFTs with a creator royalty mechanism are generally not securities.

South Korea to Allow Nonprofits, Exchanges to Sell Cryptocurrency Under New FSC Rules

The Financial Services Commission (FSC) of South Korea announced that it will allow non-profit organizations and virtual asset exchanges to sell their cryptocurrencies from June, while tightening the rules for listing exchange tokens.

Japan's ultra-long-term government bond market fluctuated violently, and central bank policy and fiscal concerns triggered a chain reaction

Police disclose details of Chinese "Steel King" murder in the Philippines: 200 million pesos in ransom in digital wallet involved

Wuhan police cracked a new type of virtual currency fraud case called "Double Coin" and successfully recovered 200,000 yuan in losses

Argentine President Closes Department Investigating Libra Crypto Scandal

Analyst: The execution deadline for Trump’s two encryption executive orders has passed, and there may be new progress in the next few days

NFT/AI

35 apps including Zhipu Qingyan and Kimi were notified for illegally collecting user information

The National Cyber Security Reporting Center announced on Tuesday that 78 apps had problems with illegal collection and use of personal information, and 35 of them were notified. Among them, Zhipu Qingyan and Kimi, both popular AI apps, were included in the list.

Google launches AI Ultra, a full-featured product, priced at $249.99 per month

At the "I/O 2025" Global Developer Conference early this morning, Google announced the AI family bucket - Google AI Ultra.

Project News

Binance HODLer Airdrop Now Available: 19th Project Haedal (HAEDAL)

Binance announced the availability of its 19th project in the HODLer airdrop - Haedal (HAEDAL).

Solana’s