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The Liberal Democratic Party's Blockchain Promotion Parliamentary Alliance in Japan submitted a policy proposal to Finance Minister Katsuyuki Kitayama, calling for the clear inclusion of blockchain and Web3 in the national strategy. The proposal covers multiple areas including tax reform, cryptocurrency ETFs, leveraged trading regulation, responses to unregistered operators, cryptocurrency strategy, and trade logistics. Among them, the proposal suggests further research on the choice mechanism for "declaration separation taxation" and "withholding separation taxation" for crypto assets, and explores the tax treatment methods for exchanges and inheritance of crypto assets.In terms of derivatives regulation, the proposal believes that the current 2x leverage limit for individual cryptocurrency trading is too low and suggests gradually increasing the leverage level in conjunction with margin management systems. At the same time, the proposal also calls for a clear positioning of the cryptocurrency ETF system and strengthening law enforcement cooperation with overseas regulatory agencies. Katsuyuki Kitayama stated that he will actively promote the construction of related systems, including facilitating the implementation of cryptocurrency ETFs and researching a new tax system to be implemented in January 2028.

According to Cryptopolitan, the Liberal Democratic Party of Japan submitted a proposal to Finance Minister Satsuki Katayama, requesting the establishment of a legal framework for cryptocurrency ETF trading and promoting the application of yen stablecoins in the Asian payment sector.The Liberal Democratic Party's blockchain promotion group believes that cryptocurrency ETFs are a simpler investment tool than directly holding crypto assets and should be officially recognized in the Japanese market. At the same time, the group hopes the government will promote yen stablecoins as a payment gateway for the Asian market.JPYC launched Japan's first licensed yen stablecoin in October 2025, having issued over 1 billion yen. The three major banks, MUFG, Sumitomo Mitsui, and Mizuho, have jointly conducted stablecoin experiments.

According to BusinessInsider, billionaire investor and hedge fund founder of Third Point, Dan Loeb, stated in a podcast that current market concerns about the "bubble theory" of artificial intelligence (AI) are greatly exaggerated, and the development stage of the AI industry is completely different from that of the internet bubble period.Loeb pointed out that technology giants, including Alphabet, Microsoft, Amazon, and Meta, have collectively exceeded $700 billion in capital expenditures this year, which may reach $1 trillion next year, with the vast majority allocated for AI infrastructure development. He stated that to believe these capital expenditures will not yield returns is equivalent to thinking that companies are "burning money for no reason," but currently, these companies have strong profitability and ample cash flow, allowing them to support investments with their own balance sheets.Loeb emphasized that this is different from the situation during the internet bubble when "valuations detached from fundamentals," and does not constitute a traditional valuation bubble. He also mentioned that AI companies like Anthropic are experiencing rapid revenue growth and accelerated product applications, indicating that the industry is still in the early stages of expansion.Reports indicate that Anthropic's latest financing valuation is nearing $965 billion, with annualized revenue jumping from $14 billion to $47 billion, further strengthening market confidence in the commercialization potential of AI.However, there are still some investors in the market, including Michael Burry, who express concerns about the overheated valuations of AI, believing that massive investments may struggle to yield corresponding returns. Loeb, on the other hand, stated, "We haven't even scratched the surface of AI development," and believes that we are still in the early stages of long-term growth.

According to CoinDesk, around 11 PM Beijing time on May 28, the SPACEX-USDH perpetual contract on Hyperliquid plummeted from $2,277 to a low of $1,254 within 30 minutes, a drop of nearly 45%, and then partially rebounded to $2,157.This flash crash resulted in the liquidation of 1,393 positions held by 405 users, with a nominal value loss of $1.51 million. The median margin of the liquidated positions was only $31, indicating a predominance of retail investors. This contract is a synthetic perpetual contract for SpaceX's market valuation, as SpaceX is not yet publicly listed and has no publicly available price benchmark, trading only on a private secondary market aimed at qualified investors. The trading volume of this contract in the past 24 hours was only $5.01 million, with an open interest of less than $2.9 million, and the market depth was insufficient to absorb large sell orders. SpaceX plans to conduct an IPO in June.

According to official news, Gate will launch a flash exchange scratch card event from May 26 at 18:00 to June 2 at 18:00 (UTC+8). During the event, users can initiate flash exchange transactions with a minimum of only $1, enjoy a 0 fee rapid exchange experience, and participate in a lottery to unlock popular Meme coins, ETH fragments, and a cash reward of up to 500 USDT. The prize pool is updated daily at 08:00 (UTC+8), and the number of rewards is limited, first come first served. At the same time, users who complete ≥100 USDT flash exchanges and participate in the lottery during the event will also have the chance to become a "super lucky fish" and randomly receive a cash reward of 500 USDT.In addition, Gate will launch a flash exchange exclusive event for newcomers from May 28 at 08:00 to May 29 at 07:59 (UTC+8). New users who complete designated flash exchange transaction tasks can receive a cash reward of 2 USDT and a blind box reward of up to 500 USDT.

According to The Block, the stock prices of Bitcoin mining companies transforming into AI and hyperscale computing continue to rise. IREN rose over 13% on Wednesday, nearing an all-time high, after announcing a $3 billion convertible bond financing, collaborating with NVIDIA to build a 5 GW AI data center, and acquiring Mirantis for $625 million. On Tuesday, it also reached a $1.6 billion agreement with Dell to supply the Blackwell AI system.Cipher and Hut 8 both reached all-time highs, with Cipher rising about 9.5% to $25 and Hut 8 rising nearly 5% to $118, with HUT increasing nearly 600% over the past year. TeraWulf rose over 6% on Wednesday, with a year-over-year increase of about 800%, and its HPC business's quarterly revenue exceeded that of its Bitcoin mining business for the first time. Riot rose 3.3% to $27 on Wednesday, with first-quarter data center revenue of $33 million, primarily from its collaboration with AMD. This year, it has sold part of its Bitcoin holdings to finance AI construction and still holds nearly $1.2 billion in Bitcoin.

According to Cointelegraph, crypto-related political action committees (PACs) and industry executives have invested over $500 million in the 2026 U.S. elections.Follow the Crypto data shows that crypto industry companies and related individuals have contributed over $320 million, and crypto-related PACs still hold over $245 million in cash; among them, Republican-related candidates/committees received about $127 million in support, significantly higher than the approximately $11.5 million for Democrats.

According to Slow Fog's disclosure, the security agency MistEye detected a cross-registry supply chain attack incident, where attackers targeted developers in the fields of cryptocurrency, DeFi, Solana, Sui/Move, and AI by publishing malicious packages on npm, PyPI, and crates.io. This attack activity includes more than 34 malicious packages and over 384 related versions. The attackers may steal cryptocurrency wallets, SSH keys, cloud credentials, GitHub/AWS tokens, browser data, environment variables, and developers' confidential information.Some of the malicious payloads also attempted to achieve persistence through .cursorrules, CLAUDE.md, Git hooks, shell hooks, cron, systemd, and SSH. Developers are advised to immediately remove the affected packages, isolate the affected systems, retain logs, rotate exposed credentials, rebuild CI environments and developer machines from clean images, and review GitHub, cloud services, SSH, and wallet activity logs.

According to Jinshi reports, Federal Reserve Governor Waller stated that discussing future interest rate cuts is crazy considering recent data.

The U.S. government, through the Department of the Treasury's Office of Foreign Assets Control (OFAC), has initiated a multi-agency coordinated financial action aimed at systematically targeting Iran's domestic digital asset infrastructure, with the goal of dismantling Tehran's parallel shadow banking system. According to officially disclosed information, this operation has successfully identified and incapacitated a large interconnected digital wallet network directly controlled by the Iranian regime, and has immediately frozen nearly $500 million in sovereign-related crypto assets.The U.S. intends to disrupt Iran's ability to bypass long-standing Western trade embargoes by blocking these alternative capital channels, cutting off its resources to regional proxy networks, and systematically weakening the regime's ability to transfer or repatriate wealth outside the oversight of traditional global clearing institutions. The focus of this enforcement action is to systematically identify state-sponsored large cryptocurrency trading portals, which have quietly evolved into core nodes for evading sanctions.Federal intelligence reports indicate that these regional platforms have processed billions of dollars in high-frequency digital asset transactions, heavily relying on mainstream stablecoins and high-throughput alternative blockchain networks to obscure their illegal settlement flows. Under the newly implemented executive directive, the Treasury is actively blacklisting specific crypto addresses, tracking mining pool variables, and imposing sanctions on foreign technology providers that facilitate these state-supported networks.Additionally, the U.S. is leveraging its dominant position in international banking to compel foreign financial intermediaries to fully comply with its aggressive crypto asset control protocols. The Treasury has issued stern warnings to international technology centers that any platform providing clearing services or liquidity assistance to designated Iranian digital entities will face immediate risks of exclusion from the U.S. financial system.This comprehensive containment model shifts regulatory responsibility to global exchanges, forcing them to deploy advanced real-time blockchain analysis tools to programmatically identify and block any inbound transactions originating from Iranian internet protocol or historical wallet clusters. By installing these stringent crypto safeguards at the level of global gateways, the U.S. government is transforming permissionless distributed ledgers into highly controlled economic zones, ensuring that alternative payment infrastructures cannot be used to undermine broader Western geopolitical security objectives in the next decade.

According to a news release from the Hong Kong Special Administrative Region, the Hong Kong police announced that they have joined law enforcement agencies from 9 countries and regions, including Singapore, South Korea, and Thailand, to combat cross-border fraud and money laundering activities. This operation took place from March 10 to May 7, resulting in the arrest of 3,018 individuals, involving over 138,000 fraud cases, with total losses of approximately $752 million (about HKD 5.89 billion).During the operation, law enforcement agencies froze a total of 101,989 bank accounts and successfully intercepted approximately $161 million (about HKD 1.26 billion) in fraudulent funds. Among them, the Hong Kong police arrested 870 individuals and intercepted approximately HKD 539 million in funds. The largest case involved a Singapore company that was defrauded of $36 million (about HKD 280 million), with the related funds subsequently flowing into multiple bank accounts in Hong Kong and other regions. About half of this amount was converted into stablecoins and dispersed into different virtual asset wallets, with the police successfully freezing $20 million of these funds after tracking.Investigations show that money laundering through virtual asset platforms is on the rise, and various regions need to continue enhancing their capabilities to respond to crimes involving virtual assets through intelligence sharing and collaborative mechanisms.

According to Zhejiang Daily, recently, the Ningbo Customs Anti-Smuggling Bureau successfully dismantled multiple criminal gangs smuggling virtual currency "mining machines" through in-depth operations and meticulous investigations, effectively cutting off an illegal industrial chain.Previously, during a routine inspection of a batch of imported express shipments declared as "industrial blockers," Ningbo Customs discovered that the actual goods did not match the declaration and were, in fact, virtual currency "mining machines." Customs officers quickly transferred this lead to the anti-smuggling department. After receiving the report, the Ningbo Customs Anti-Smuggling Bureau immediately assembled a task force by drawing on elite personnel, and through data analysis and clue investigation, gradually clarified the organizational structure and operational model of the criminal network. When the timing was right, they decisively struck, simultaneously conducting net-seizing operations in Dongguan, Shenzhen, and other locations, successfully dismantling multiple smuggling gangs of mining machines.Upon investigation, it was confirmed that this series of cases seized over 400 illegal entry mining machines of brands such as Ant L9 and Ice River KS3. The investigation revealed that the smuggling gang led by Liao, in order to make illegal profits, procured "mining machines" from overseas suppliers, disassembled the whole machines, and misreported the product names to smuggle them into the country through international express channels from ports in Ningbo, Guangzhou, and other places. After the goods entered the country, the gang reassembled them, either selling them directly domestically or transporting them to hidden "mining sites" in Xinjiang, Hunan, and other places to engage in illegal virtual currency "mining" activities. At the same time, they utilized virtual currencies like USDT for cross-border payment settlements to evade financial supervision.

According to CoinPost, the "Next Generation AI and On-Chain Finance Concept Project Group" of the Liberal Democratic Party of Japan has released a proposal that suggests combining AI with blockchain to automate decision-making, financing, and asset management, operating around the clock, and lists finance as the "18th growth investment area."Specific measures in the proposal include: promoting the tokenization of current accounts at the Bank of Japan (including wholesale CBDC), completing the argument organization within the year; the three major banks jointly issuing stablecoins, aiming to launch practical operations before March next year; and promoting the on-chain tokenization of real assets (RWA) such as accounts receivable and real estate.On the international cooperation front, the proposal suggests establishing an "AI and On-Chain Finance Asia Policy Dialogue Framework" and advancing cross-border settlements using yen-denominated stablecoins, building a "Global SC Corridor Concept."

According to Digital Asset, Jeong Tae-ho, a Democratic Party official from the National Assembly's Finance and Economy Planning Committee in South Korea, stated that the taxation of digital assets "has already been postponed and should be implemented as planned," and mentioned that internal party discussions will begin once the tax reform proposal is submitted to the committee.This statement marks a significant shift from his more reserved stance a month ago. The South Korean government has also officially confirmed that it will impose taxes on the transfer and rental income of digital assets starting January 1, 2027. Several hardline lawmakers within the Democratic Party have recently voiced their support for advancing the timeline as scheduled.

According to the Ministry of Public Security of China, recently, the police from China, the United States, and the United Arab Emirates conducted international law enforcement cooperation for the first time, jointly combating telecom network fraud crimes in the Dubai area. They successfully dismantled 9 fraud dens and arrested 276 criminal suspects.Investigations revealed that the related fraud gangs established "romantic" relationships with victims through social platforms, deceiving them into trusting them emotionally, and then inducing victims to invest in so-called high-return cryptocurrency projects, resulting in their fraud. A relevant official from the Ministry of Public Security of China stated that this joint crackdown is an important achievement of international law enforcement cooperation by the Chinese police. The Chinese police will deepen practical cooperation with more countries, carry out joint crackdown actions, resolutely eliminate fraud dens, and make every effort to capture suspects involved in telecom fraud, effectively safeguarding the legitimate rights and interests of people in all countries.

According to the Zhejiang Daily, the Ningbo Customs Anti-Smuggling Bureau in Zhejiang, China, recently cracked multiple cases of smuggling virtual currency mining machines, dismantling several criminal gangs and seizing over 400 mining machines of models such as Ant L9 and Ice River KS3.The report states that the involved gangs misrepresented the mining machines as "industrial block devices" and smuggled them into the country through international express channels from ports in Ningbo, Guangzhou, and other locations. They then reassembled the machines and sold them domestically or transported them to mining sites in Xinjiang, Hunan, and other areas for hosting and mining.Investigators stated that the relevant gangs also used USDT for cross-border payment settlements to evade financial regulation.

The CLARITY Act has been reviewed by the U.S. Senate Banking Committee today and will next enter the full Senate voting stage.According to Mars Finance, the market is optimistic about the completion of the legislation this year, with the success probability predicted by the market Polymarket exceeding 70%. However, the bill must first pass the critical procedural threshold of the "motion to end debate," which requires at least 60 votes in favor from the 100 senators; otherwise, it may face indefinite delays.Reports indicate that two Democratic senators have explicitly crossed party lines to support the bill, and all 51 Republican senators are expected to vote in favor. Therefore, at least 7 Democratic senators' support is still needed to advance the bill to the final voting stage.In addition, the CLARITY Act will need to be integrated with the version from the Senate Agriculture Committee. The Banking Committee version mainly involves the SEC regulatory framework, securities classification, trading platform registration, and DeFi protection; the Agriculture Committee version focuses on CFTC regulation, digital commodity spot and derivatives markets, among other areas. The final unified text will be submitted for Trump’s signature after being voted on by both houses.Previous news: The U.S. Senate Banking Committee passed the CLARITY Act with a vote result of 15:9.

Democratic Senator Jack Reed stated at the CLARITY bill hearing that Iran is using cryptocurrency to procure sensitive goods, and the drones they are acquiring are wreaking havoc in the Persian Gulf. Moreover, most of this funding has turned into stablecoins. If we truly support our military, we should cut off their (Iran's) funding sources.