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Exchange activity also remains intense. Binance will delist multiple trading pairs on May 2, while South Korean exchanges Upbit and Bithumb are removing several low-liquidity tokens throughout the month https://sport-oneway.com/.
Ethereum co-founder Vitalik Buterin has hinted at a future path where Ethereum aims to be “as simple as Bitcoin.” His statement has sparked a wider conversation about protocol simplicity, the smart contract platform future, and the decentralized applications space in general. Simplifying Ethereum protocols could attract more developers and improve usability, which could grow Ethereum’s competitive advantage among Layer 1 projects.
In addition to reporting on the law and regulation governing blockchain, smart contracts, and digital assets, this bulletin will discuss the legal developments supporting the infrastructure and ecosystems that enable the use and acceptance of these new technologies.
The Discussion Paper does not cover rules on issuing a qualifying stablecoin and safeguarding. These will be addressed in a separate consultation paper issued in Q2 of 2025. This will be published alongside a consultation paper on the prudential framework for cryptoassets and prudential requirements for qualifying stablecoins and the safeguarding activity. Read more.
Latest cryptocurrency market news may 2025
Ethereum activated its Pectra upgrade on May 7, marking a significant milestone for the blockchain. The upgrade went live on mainnet at epoch 364032 and is the first major update since Dencun in 2024. Pectra is a combined hard fork (execution layer “Prague” and consensus layer “Electra”) introducing 11 Ethereum Improvement Proposals (EIPs) that enhance user experience. These changes improve the staking process, add new smart wallet features, and increase layer-2 efficiency for better scalability. The successful deployment of Pectra underscores Ethereum’s ongoing evolution to become more user-friendly and scalable.
Coinbase revealed that it fell victim to a significant cyberattack, forecasting losses of $180 million to $400 million from the incident. In a May 15 regulatory filing, the exchange said hackers breached account data of a “small subset” of customers by bribing several employees of overseas support contractors for internal access. The attackers obtained some customer personal data (names, addresses, emails) but did not compromise passwords or keys, and some users were tricked into transferring funds to the scammers. Coinbase immediately fired the staff involved and refused to pay the hackers’ $20 million ransom demand. Instead, the company is cooperating with law enforcement and has offered a $20 million reward for information to help identify and capture the perpetrators. Coinbase stated it will reimburse any customers who lost funds in the scam and has strengthened its security controls following the breach. This incident – one of the costliest hacks in crypto to date – underscored ongoing security challenges even for industry-leading exchanges.
In a major regulatory shift, the U.S. Department of Justice announced it would disband its National Cryptocurrency Enforcement Team (NCET) and narrow the scope of crypto-related prosecutions. In a memo from Deputy Attorney General Todd Blanche, the DOJ criticized the prior administration’s “reckless strategy of regulation by prosecution” and vowed to end broad enforcement actions against crypto intermediaries. Going forward, prosecutors were directed to focus on criminals who use digital assets for traditional crimes (such as terrorism financing, narcotics, or fraud) rather than targeting exchanges or minor regulatory violations. This policy change, rooted in an executive order by President Trump, signaled a more industry-friendly stance by emphasizing investor protection and crime prevention over expansive regulation of the crypto sector.
Ethereum activated its Pectra upgrade on May 7, marking a significant milestone for the blockchain. The upgrade went live on mainnet at epoch 364032 and is the first major update since Dencun in 2024. Pectra is a combined hard fork (execution layer “Prague” and consensus layer “Electra”) introducing 11 Ethereum Improvement Proposals (EIPs) that enhance user experience. These changes improve the staking process, add new smart wallet features, and increase layer-2 efficiency for better scalability. The successful deployment of Pectra underscores Ethereum’s ongoing evolution to become more user-friendly and scalable.
Coinbase revealed that it fell victim to a significant cyberattack, forecasting losses of $180 million to $400 million from the incident. In a May 15 regulatory filing, the exchange said hackers breached account data of a “small subset” of customers by bribing several employees of overseas support contractors for internal access. The attackers obtained some customer personal data (names, addresses, emails) but did not compromise passwords or keys, and some users were tricked into transferring funds to the scammers. Coinbase immediately fired the staff involved and refused to pay the hackers’ $20 million ransom demand. Instead, the company is cooperating with law enforcement and has offered a $20 million reward for information to help identify and capture the perpetrators. Coinbase stated it will reimburse any customers who lost funds in the scam and has strengthened its security controls following the breach. This incident – one of the costliest hacks in crypto to date – underscored ongoing security challenges even for industry-leading exchanges.
Cryptocurrency news etrscrypto
BALTIMORE — Bad actors are seeking cryptocurrency in almost every scheme tracked by the FBI. From fraudulent investments to tech support and romance scams, and most recently, a surge in employment scams. And as Bitcoin reaches record highs, Special Agent David Paniwozik with FBI Baltimore sees more people wanting to capitalize on cryptocurrency.
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“There is no cap on whether you want to move $1 to hundreds of millions or billions of dollars. You can just seamlessly move that from a wallet controlled in the United States to a wallet controlled overseas, in, you know, a matter of seconds,” SA Paniwozik warned.
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