North Dakota bill seeks to cap crypto ATM transactions to tackle fraud  

US Senate Majority Leader John Thune reportedly told Republican lawmakers that the chamber would address a bill on stablecoin regulation before the May 26 Memorial Day holiday.According to an April 29 Politico report, Thune made the comments in a closed-door meeting with Republican senators, who hold a slim majority in the chamber. The Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act, was introduced by Senator Bill Hagerty in February and passed the Senate Banking Committee in March.Thune did not mention any crypto or blockchain-related bills in his public comments on US President Donald Trump’s first 100 days in office. Since his Jan. 20 inauguration, Trump has signed several executive orders with the potential to affect US crypto policy, including one affecting stablecoins. Still, many of the actions do not carry the force of law without an act of Congress.Related: $649B stablecoin transfers linked to illicit activity in 2024: ReportThe proposed GENIUS bill could essentially restrict any entity other than a “permitted payment stablecoin issuer” from issuing a payment stablecoin in the United States. The House of Representatives, also controlled by Republicans, has proposed a companion bill to the legislation: the Stablecoin Transparency and Accountability for a Better Ledger Economy, or STABLE Act.Trump accused of conflicts of interest over stablecoins, crypto venturesThe president’s executive order, signed on Jan. 23, established a working group to study the potential creation and maintenance of a national crypto stockpile and a regulatory framework for stablecoins. Republican lawmakers followed by introducing the STABLE and GENIUS acts.Trump also introduced the order before World Liberty Financial, a crypto firm backed by the president’s family, launched its US-dollar pegged USD1 stablecoin. Many Democratic lawmakers said that Trump’s ties to the firm, coupled with his political influence and position, could present an “extraordinary conflict of interest that could create unprecedented risks to our financial system” as Congress considers the two stablecoin bills.Magazine: Trump’s crypto ventures raise conflict of interest, insider trading questions

The US Securities and Exchange Commission (SEC) has postponed deciding on whether to greenlight two proposed cryptocurrency exchange-traded funds (ETFs) holding Dogecoin and XRP, filings show. The US regulator has delayed its deadline for ruling on the proposed ETF listings until June, according to two filings reviewed by Cointelegraph. The filings were responses to March requests from US exchanges NYSE Arca and Cboe BZX Exchange to list Bitwise’s Dogecoin (DOGE) ETF and Franklin Templeton’s XRP (XRP) ETF, respectively. They came on the same day that Nasdaq, another US exchange, asked for permission to list a 21Shares Dogecoin ETF. Dogecoin is the world’s most heavily traded memecoin, with a market capitalization of around $26 billion as of April 29, according to data from CoinGecko. XRP is the native token of the XRP Ledger blockchain network. It has a market capitalization of approximately $133 billion, CoinGecko data shows. The SEC has delayed its deadline for reviewing Franklin’s XRP Fund. Source: SECRelated: Institutions break up with Ethereum but keep ETH on the hookDeluge of filingsIn 2025, the SEC has fielded requests to authorize dozens of altcoin ETFs for US listing. As of April 21, approximately 70 crypto ETFs were awaiting the SEC’s review. Asset managers are proposing funds holding “[e]verything from XRP, Litecoin and Solana to Penguins, Doge and 2x Melania and everything in between,” Bloomberg analyst Eric Balchunas said in an April 21 post on the X platform. The deluge of proposals comes as US President Donald Trump pushes the SEC to take a more accommodating stance toward cryptocurrencies. However, analysts caution investor demand for altcoin ETFs may be tepid in comparison to funds holding core cryptocurrencies such as Bitcoin (BTC) and Ether (ETH). “Having your coin get ETF-ized is like being in a band and getting your songs added to all the music streaming services,” Balchunas said. “Doesn’t guarantee listens but it puts your music where the vast majority of the listeners are.”Although US exchanges are embracing crypto ETFs, they are also urging the SEC to take a tough regulatory posture toward digital assets. In an April 25 comment letter, Nasdaq encouraged the SEC to hold digital assets to the same compliance standards as securities if they constitute “stocks by any other name.”Magazine: Financial nihilism in crypto is over — It’s time to dream big again

A court in India has ordered the encrypted email service Proton Mail blocked in the country for refusing to share information with authorities.In an April 29 hearing of the High Court of Karnataka, Justice M Nagaprasanna ordered the government to “block forthwith” domain names associated with Proton Mail, citing authority under the country’s Information Technology Act of 2008. The order stemmed from a complaint filed in January by a New Delhi-based design firm, alleging that some of its employees received offensive emails through the service.  It’s unclear whether the ban will take effect or face other possible challenges in court. The Proton team reported in March 2024 that Indian authorities had similarly proposed ordering the service blocked in response to alleged “hoax bomb threats,” but it continued to operate in the country.The crackdown on Proton Mail appeared to be part of a larger global trend to pursue action against platforms based on users’ activities, such as the arrest of Telegram founder Pavel Durov in France in part for allegedly failing to moderate illicit content. Cointelegraph reached out to Proton for comment but did not receive any response at the time of publication.Related: Crypto projects prepare to battle for privacy in SwitzerlandIn Spain, Proton AG — the Swiss company behind the platform — provided information to the authorities about one of its users in 2024. The move had many privacy advocates questioning the security of their data with the centralized service.Vying for market share in the world’s most populous countryCryptocurrency exchanges are no stranger to legally sanctioned crackdowns attempting to curtail their activities in a country, or in some cases, face blocks or bans. US authorities imposed sanctions on crypto mixing services like Tornado Cash in 2022, facing swift backlash from the industry and legal challenges, while South Korea reportedly blocked 14 exchanges on the Apple store for allegedly operating without the proper registration.In India, users face a 30% tax on profits from crypto trading, which has been in effect since April 2022. Though crypto firms operating in the country endure increasing regulatory oversight, India is estimated to have more than 100 million digital asset holders out of its roughly 1.4 billion people.Magazine: Pokémon on Sui rumors, Polymarket bets on Filipino Pope: Asia Express