Arizona&#8217;s cautious stance on digital assets highlights the ongoing tension between innovation and fiscal responsibility in state governance. The post Arizona governor rejects bill to establish state-run digital asset reserve over fiscal risk appeared first on Crypto Briefing.

Arizona governor rejects bill to establish state-run digital asset reserve over fiscal risk

Bitcoin and most altcoins remained in a tight range on Tuesday after the US 
published the April consumer inflation data. Bitcoin (BTC) was trading at 
$103,800, while Ethereum (ETH) hovered above the key point at $2,520. The 
market cap of…

Crypto bull run on pause as traders digest latest inflation data

Bitcoin trades at $103,581 today with a total market capitalization of $2.057 
trillion and a 24-hour trade volume of $35.91 billion. The cryptocurrency 
experienced an intraday price range of $101,109 to $104,293, signaling 
elevated activity within a tight but volatile band. Bitcoin The 1-hour BTC/USD 
chart highlights a distinct intraday pullback followed by a sharp […]

Bitcoin Price Watch: Double Top or Launchpad? $105K Level Under Fire

The largest political party in South Korea, the Democratic Party, has launched 
a Digital Asset Committee focused on developing cryptocurrency policies and 
promoting industry growth.
The committee held its inaugural meeting at the National Assembly Members&#8217; 
Hall in Seoul on May 13, the local news agency News1 reported.
During its first meeting, the committee highlighted the importance of 
resolving regulatory uncertainty and addressing burning issues like stablecoin 
regulation amid the push for US-dollar stablecoins by the US government.
The new committee joins similar organizations in South Korea, including the 
Virtual Asset Committee launched in late 2024 and another public-private 
crypto task force introduced in 2022, both initiated by the Financial Services 
Commission (FSC).
## Exchanges like Upbit and Bithumb involved
The leadership of the Digital Asset Committee includes South Korean officials 
and politicians such as National Assembly chairman Min Byeong-deok, who joins 
the committee as chairman.
Additionally, the organization features standing general election committee 
chairman Yoon Yeo-joon, Muksanism Committee chairman Maeng Seong-gyu, National 
Assembly member Kim Byeong-gi and former National Assembly chairman Kim Jeong- 
woo.
_Digital Asset Committee chairman Min Byeong-deok, Yoon Yeo-jun, Maeng Seong- 
gyu and Kim Jeong-woo (from left to right). Source: News1_
According to a report by ChosunBiz, the committee will also include 
participation of executives from major local exchanges, including Upbit, 
Bithumb, Coinbit and Gopax.
## Criticism of &#8220;one-exchange, one bank&#8221; rule
At the opening meeting, committee chairman Min expressed concerns regarding 
limitations of South Korea&#8217;s current one-exchange-one-bank rule, implying that 
crypto exchanges are restricted to collaborating with only one lender.
&#8220;There are clear shortcomings to the one exchange, one bank principle,&#8221; Min 
reportedly said, adding that the committee is working with regulators to 
resolve the issue.
The chairman also mentioned discussions on which regulators should be 
responsible for supervising the stablecoin industry and whether stablecoins 
should be subject to a licensing system or a reporting system.
_**Related:**__**South Korea presidential front-runner pledges to approve 
Bitcoin ETFs**_
&#8220;There is also a point of contention as to whether the Bank of Korea or the 
FSC should handle the regulation,&#8221; he reportedly said.
The news came shortly after a Bank of Korea executive expressed concerns over 
the issuance of the South Korean won-backed stablecoins.
&#8220;Stablecoin has a great impact on the implementation of central bank policies 
such as monetary policy, financial stability, and payment settlement,&#8221; Bank of 
Korea&#8217;s Koh Kyung-chul reportedly said at a conference on May 12.
&#8220;The negative impact on the central bank&#8217;s policy implementation should be 
minimized by the central bank&#8217;s practical intervention in the approval stage,&#8221; 
he added.
_**Magazine:**__**Finally blast into space with Justin Sun, Vietnam &#8216;s new 
national blockchain: Asia Express**_

South Korea’s Democratic Party sets up ‘Digital Asset Committee’

Last week saw another batch of new money flowing into crypto funds. As 
reported by CoinShares, investment products attracted over $880 million over 
the course of seven days. That brings year-to-date inflows to $6.7 billion. 
Prices have been trending upward, with Bitcoin temporarily reaching $105,000 
and Ethereum being traded above $2,600. Investors are appearing to be stepping 
in while the opportunity is still hot. Related Reading: Bitcoin’s $104,000 
Peak Sparks High-Stakes Short Positions – Details Weekly Inflows Indicate 
Continued Demand According to the latest data, $882 million poured into crypto 
products last week. That is the fourth consecutive week of inflows. It might 
not rattle the broader markets, but it indicates money continues to flow in. 
Managers have gathered $6.7 billion in net new cash so far this year. In plain 
language, that&#8217;s a steady stream of new capital flowing towards these funds. 
Bitcoin Dominates The Inflows Bitcoin funds saw $867 million of those inflows. 
A big chunk of that went into US-listed ETFs. Since January 2024, those 
Bitcoin ETFs have gathered nearly $63 billion. They just passed their all-time 
high of $61.6 billion set back in February. In contrast, Ethereum products 
only took in $1.5 million last week. That gap shows where most investors still 
feel safest. Sui And Other Altcoins Catch Some Attention Some of the smaller 
coins were in the limelight. Sui attracted $11.7 million in just one week, 
surpassing Solana and Ethereum during that span. Its year-to-date figure so 
far stands at $84 million, narrowly over Solana&#8217;s $76 million. XRP, for its 
part, posted $1.4 million of weekly inflows, taking its YTD at $258 million. 
XRP&#8217;s assets under management are currently at $1.35 billion. Other altcoins 
showed only small moves, which tells us money is picking spots rather than 
spreading out. Source: CoinShares Regional Flows Favor The US The United 
States dominated all regions with $840 million of last week&#8217;s total. Germany 
accounted for a little over $44 million and Australia $10 million. Conversely, 
Sweden experienced the largest outflows at $12 million. Hong Kong lost $8 
million and Canada $4.3 million. Those numbers highlight just how much the US 
market—led by heavy hitters such as BlackRock—is still in charge. Related 
Reading: Bitcoin’s Grip Loosens: Market Expert Says Dominance Has Hit Its 
Ceiling BlackRock&#8217;s iShares Bitcoin ETF was the best performer, bringing in 
over $1 billion last week. That was partially offset by $257 million in 
outflows from providers like Grayscale and Bitwise. Overall, it appears that 
one provider&#8217;s large gain can be equaled by several others&#8217; losses. Behind the 
flows are broader trends in money and policy. Global M2 money supply continues 
to expand, adding more cash to the system. Meanwhile, concerns about slow US 
growth and high inflation are pushing some investors into crypto as a hedge, 
or alternative store of value. Featured image from Gemini Imagen, chart from 
TradingView

Bitcoin Reclaims Center Stage With $880 Million In Inflows

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