The Virtual Assets Regulatory Authority (VARA) in Dubai has announced the release of Version 2.0 of its activity-based Rulebooks. The updated Rulebooks enhance supervisory mechanisms for various regulated virtual asset activities, including advisory services, broker-dealer services, custody services, and exchange services, among others. Key updates include strengthened controls on margin trading and token distribution, clearer […]

Dubai’s VARA Releases Version 2.0 of Virtual Asset Regulation Rulebook

Bitget Wallet has introduced a new brand identity and launched a $1 million 
campaign aimed at encouraging broader use of its crypto wallet services. 
Bitget Wallet Adds New UI, Campaign Targeting User Engagement The update 
includes a revised logo and interface changes described as more user-friendly. 
Bitget Wallet, a non-custodial crypto platform, said it now […]

Bitget Wallet Unveils Brand Update, $1M Incentive Campaign

The number of Bitcoin-centered companies is growing. More than that, more and 
more companies from other sectors set corporate Bitcoin treasuries as an 
inflation hedge. However, most of these companies don&#8217;t disclose Bitcoin 
addresses. Why is there reluctance in disclosing…

Bitwise is still the only company that disclosed its BTC addresses. Why don’t others follow?

US Senate Democrats are getting flak after they helped move stablecoin 
legislation ahead for discussion on the Senate floor.
On May 19, 16 Democratic senators broke from the party line to pass a motion 
to invoke cloture, which will now set the bill up for debate on the Senate 
floor. Some of the same Democrats had held up the bill in early May when they 
withdrew support, citing corruption concerns over President Donald Trump&#8217;s 
cryptocurrency dealings.
The bill&#8217;s opponents hailed lawmakers&#8217; refusal to support it but were soon 
taken aback when the senators reversed their position. The lightly amended 
legislation contained no provisions regarding World Liberty Financial, the 
Trump family&#8217;s crypto venture.
Some activists have said that the Democrats supporting the bill should be 
ousted in the upcoming Democratic primaries in 2026, reflecting a growing rift 
in the Democratic Party over cryptocurrencies.
_The Senate voted 66-32 to move the bill ahead. Source:__Stand With Crypto_
## Democratic lawmakers&#8217; approach to crypto shows split in party
On May 19, moderate Democratic Senator Mark Warner announced he would support 
progressing the bill, stating that it was &#8220;not perfect, but it&#8217;s far better 
than the status quo.&#8221;
Warner set corruption concerns aside, stating, &#8220;Many senators, myself 
included, have very real concerns about the Trump family&#8217;s use of crypto 
technologies to evade oversight [&#8230;] But we cannot allow that corruption to 
blind us to the broader reality: blockchain technology is here to stay.&#8221;
Warner concluded it would be better for the US to move on imperfect stablecoin 
legislation than to fall behind other jurisdictions.
Democratic Senator Kirsten Gillibrand, one of the bill&#8217;s sponsors, also pushed 
aside Trump corruption concerns, saying they should be addressed separately.
_**Related:**__**US Senate moves forward with GENIUS stablecoin bill**_
&#8220;A lot of what President Trump is engaged in is already illegal,&#8221; she said, 
adding that she didn&#8217;t want the president&#8217;s scandals to &#8220;distract us from the 
important goal of having a clear regulatory structure in the United States 
that can onshore this industry.&#8221;
During the vote, progressive Democrats disagreed. Senator Elizabeth Warren, 
the top Democrat on the Senate Banking Committee and a vocal critic of the 
crypto industry, reportedly got into a heated argument with Gillibrand on the 
Senate floor.
Warren argued on the Senate floor ahead of the vote, &#8220;A bill that turbocharges 
the stablecoin market, while facilitating the President&#8217;s corruption and 
undermining national security, financial stability, and consumer protection is 
worse than no bill at all.&#8221;
Democrats opposing the bill aren&#8217;t giving up either. Senator Michael Bennet of 
Colorado, who voted against the GENIUS Act, immediately introduced another 
bill, jokingly named &#8220;the STABLE GENIUS Act,&#8221; combining the names of the bills 
in the Senate and House of Representatives.
The bill would prevent the president, vice-president and members of Congress 
from &#8220;issuing or endorsing digital assets&#8221; and require them to place any 
assets they hold in a blind trust while in office.
While the bill has little chance of passing &#8212; numerous acts that would limit 
members&#8217; of Congress financial activities have fizzled out &#8212; it shows the 
Democrats are split on how they should provide opposition.
## Democratic activists lambast Democratic GENIUS supporters
The progressive and activist wings of the Democratic party have roundly 
criticized Congressional leadership for compromising with Republicans on 
measures that, they claim, should be deal breakers.
In March, activists were enraged when Senator Chuck Schumer, a Democrat from 
New York and minority leader in the Senate, voted with the Republicans on a 
continuing resolution for government funding. One progressive observer accused 
him of giving up leverage and weakening the Democratic position.
Then, in April, disagreements over how Democrats should fight Trump&#8217;s mass 
deportations further deepened the rift.
Now, crypto has become another wedge between the activist wing, which provides 
crucial voter activation during elections, and centrists in Congress.
Ezra Levin, co-founder and co-executive director of progressive activist 
organization Indivisible, wrote on BlueSky:
_Ezra Levin commenting on crypto bill. Source:__Ezra Levin_
Public communications strategist Murshed Zaheed, who formally worked for the 
offices of Senator Harry Reid and Representative Louise Slaughter, urged 
people to call their senators to come out against the bill.
&#8220;Any Democrat who votes for this today &#8212; should never be taken seriously 
again if they send out emails, text and do videos [&#8230;] talking a big game 
about Trump&#8217;s corruption,&#8221; he said.
_**Related:**__**What to expect at Trump &#8216;s memecoin dinner**_
Chris Kluwe, a former American football player who has since become a 
prominent activist within Democratic politics, said on May 20 he was &#8220;excited 
to get a chance to speak at the CA state Dem convention on May 31st, I&#8217;m sure 
[the bill] won&#8217;t come up at all in the 4 minutes I&#8217;ve been allotted.&#8221;
On BlueSky, labor researcher and media law historian Peter Labuza posted 
&#8220;Primary List&#8221; in reply to a post of the 16 Democratic senators who helped 
support the bill.
The subject of primary elections, the intra-party elections to decide who will 
represent the party in a given district, has also grown contentious.
On May 12, the Democratic National Convention (DNC) voted to void the results 
of an internal party vote nominating David Hogg as a vice chair. The decision 
essentially strips Hogg of his title at the DNC and, with it, the ability to 
promote his controversial policy of sponsoring progressive challengers in 
Democratic primary elections.
Hogg had planned to spend $20 million to support progressive and young 
candidates in Democratic Party primaries as part of the &#8220;Leaders We Deserve&#8221; 
campaign &#8212; an activist group that aims to elevate younger leaders with a more 
combative tone against the Trump administration.
With the stablecoin bills in the House and Senate poised to move ahead, the 
Democrats seem ill-suited to mount an effective opposition to the bills. 
Internal struggles and interests within Congress have disunited lawmakers, 
while activists want a new crop of congresspeople to represent them next term.
In the Democratic Party&#8217;s internal battle between the anti-crypto progressive 
wing and the pro-crypto pragmatists, the latter is winning out, so far.
_**Magazine:**__**Father-son team lists Africa &#8216;s XRP Healthcare on Canadian 
stock exchange**_

Senate stablecoin vote splits Democrats amid concerns over corruption

Kraken has launched a suite of regulated crypto derivatives in Europe, 
expanding access to both perpetual and fixed maturity contracts under the 
Markets in Financial Instruments Directive. The offering is available through 
Payward Europe Digital Solutions, a Cyprus-based investment firm…

Kraken launches crypto futures in Europe under MiFID II framework

U.S. stocks slid in early trades on Tuesday, May 20, 2025, with the S&amp;P 500, 
Dow Jones Industrial Average and Nasdaq opening lower. The Dow Jones 
Industrial Average opened nearly 50 points down, while the S&amp;P 500 slipped 
0.3%. Stocks’…