Autor Cointelegraph By Turner Wright

Earlier in 2026, as a digital asset market structure bill was under consideration in the US Senate, cryptocurrency exchanges Coinbase, Kraken and Gemini reportedly pressed to remove language in the legislation that could have affected their token listings.According to a Friday Politico report, the three exchanges asked US lawmakers to scrap a provision in the market structure bill that would have required platforms to only offer trading on digital assets “not readily susceptible to manipulation.” The companies reportedly pressed senators to remove the language as it could have made it difficult for exchanges to list smaller tokens.The edit, which the news outlet reported occurred after the US Senate Agriculture Committee voted to advance its version of the bill in January, signaled the influence crypto companies in communication with the Trump administration and lawmakers could have in legislation affecting the industry. The US Senate Banking Committee postponed its markup on the bill hours after Coinbase CEO Brian Armstrong said that the exchange could not support the legislation “as written,” citing concerns with tokenized equities.Under the market structure bill, called the CLARITY Act when it passed the US House of Representatives in July 2025, the Commodity Futures Trading Commission (CFTC) would be given more authority in overseeing and regulating digital assets. Both US financial regulators, the CFTC and Securities and Exchange Commission (SEC), announced their intention to coordinate oversight of the crypto industry in March, even in the absence of action from Congress.Related: US Senator questions Mark Zuckerberg on Meta’s stablecoin plansCoinbase chief policy officer Faryar Shirzad responded to the report on social media, calling it “old news” and an issue that was included in the markup by the Senate Agriculture Committee. Source: Faryar ShirzadIndustry leaders, lawmakers speculate on timeline for market structure billLast week, two US senators announced a compromise deal on stablecoin yield between representatives of the crypto and banking industries that could allow the CLARITY Act to advance in the banking committee. Although some lawmakers said they intended to push for ethics language on potential conflicts of interest to be included in the bill, many are speculating that passage could be in a matter of weeks.Coinbase‘s US policy vice president, Kara Calvert, said on Thursday that the exchange expected a markup in the banking committee by next week. Other lawmakers predicted that the bill would become law before the Senate broke for August recess, while White House crypto adviser Patrick Witt said that the administration was aiming for a July 4 deadline for the bill to pass the House after a June Senate vote.Magazine: XRP ‘probably going to $12,’ Bitcoin ETFs add $1B: Market MovesCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

Latest NewsPublishedMay 8, 2026

Massachusetts Senator Elizabeth Warren called on Meta CEO Mark Zuckerberg to answer questions about the company’s stablecoin integration in 2026, signaling concerns about guardrails.In a Wednesday letter to Zuckerberg, Warren said Meta’s lack of transparency regarding its stablecoin was “deeply troubling,” given the company’s previous plans to roll out Libra, a global stablecoin proposed in 2019 that was later rebranded to Diem. The senator said Meta’s plans were necessary for Congress to understand, given the US government’s efforts to pass a digital asset market structure bill with implications for stablecoin issuers.“It is critical that Meta be transparent with Congress and the public regarding its stablecoin-related plans,” said Warren. “Beyond the failure of its previous attempt to issue its own global private currency, the company has struggled to safely offer its existing products and services […] Any new products, especially related to payments and financial services, should be treated with skepticism.”Source: US Senate Banking CommitteeThe senator asked the Meta CEO to provide details by May 20 on its “small and focused trial” for a stablecoin integration to the platform, including any planned launch date, third-party stablecoins that may be a part of the program and privacy guardrails it may have in place. Meta already rolled out stablecoin payouts in USDC (USDC) for select creators in the Philippines and Colombia in April.Related: Mark Zuckerberg is building an AI agent to help run MetaWarren sits on the Senate Banking Committee as ranking member, where she helps oversee financial agencies like the US Securities and Exchange Commission (SEC). The body is currently considering legislation to establish a comprehensive framework for digital assets in the US called the CLARITY Act, which has been stalled in the chamber for months.Stablecoin yield compromise to advance market structure bill?Last week, lawmakers in the Senate announced a deal between crypto and banking industry representatives that could allow the CLARITY Act to advance to a markup in the banking committee, and potentially a floor vote in the full chamber. Although the compromise on stablecoin yield represented progress in advancing the legislation, some crypto advocates urged caution as lawmakers continue to debate other issues in the bill, including ethics and potential conflicts of interest.Magazine: XRP ‘probably going to $12,’ Bitcoin ETFs add $1B: Market MovesCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

Alex Mashinsky will be representing himself as Celsius executive prepares for sentencingOn Wednesday, lawyers representing Alex Mashinsky moved to withdraw as attorneys in the case, saying that the former Celsius CEO would be “proceeding pro se” — representing himself in court. Mashinsky was sentenced to 12 years in prison for his role in fraud and price manipulation at the crypto lending platform.Source: PACERRoni Cohen-Pavon, Celsius’ former chief revenue officer, is scheduled to be sentenced on May 13 after pleading guilty in September 2023. On May 4, US prosecutors recommended that the judge consider Cohen-Pavon’s “substantial assistance” to the government at sentencing, signaling leniency.Celsius, along with cryptocurrency exchange FTX, filed for bankruptcy in 2022 amid a crypto market downturn that saw the collapse of many companies.Washington city passes ban on crypto kiosks, Iowa restricts activitiesOn Tuesday, the city council of Spokane Valley in Washington voted unanimously to approve an ordinance prohibiting virtual currency kiosks and ATMs. The ban, proposed in response to many residents being the victims of crypto-related scams, followed many other jurisdictions passing similar measures.The ordinance imposes a $250 civil penalty for anyone in noncompliance, and gives officials the authority to revoke the business license of any operator found to be in violation. Entities hosting the kiosks and ATMs have 30 days to be in compliance.Spokane Valley’s actions preceded Iowa Attorney General Brenna Bird announcing on Wednesday that the state would “establish rigorous oversight for crypto ATMs” in an effort to protect residents from scammers. The law, SF2296, adds crypto kiosks to Iowa’s financial regulatory framework, giving state authorities the ability to impose civil penalties and injunctions on operators.US authorities request forfeiture of $10 million connected to former FTX CEOIn a Thursday filing in the US District Court for the Southern District of New York, prosecutors overseeing the criminal case against Sam “SBF” Bankman-Fried requested that $10 million in assets recently located be used toward the former FTX CEO‘s forfeiture. SDNY US Attorney Jay Clayton filed a motion of forfeiture after authorities located $10 million in cash tied to SBF held in an account at Fiduciary Trust Company. According to Clayton, the funds represented “the return of the investment made by [Bankman-Fried] in Semafor.”Following his conviction and sentence to 25 years in prison, Bankman-Fried was ordered to pay more than $11 billion in forfeiture as part of his role in defrauding FTX users and investors. Clayton said that the judgment “remains unpaid” amid SBF awaiting the result of an appeal.

Update (May 7 at 9:47 PM UTC): This article has been updated to include a statement from Binance.The US Department of the Treasury reportedly demanded that Binance follow a monitoring program put in place by a 2023 deal between authorities and the cryptocurrency exchange, following reports that the company facilitated $1 billion to entities tied to Iran.According to a Thursday report by The Information, the Treasury Department “privately demanded” that Binance be in compliance with a monitoring program to which it had agreed after reaching a deal with US authorities in 2023. The deal, which included a $4.3 billion settlement with Treasury and the US Department of Justice, required Binance to comply with a three-year monitoring program overseen by government officials. The reported letter from Treasury followed reports that Binance fired individuals responsible for telling the exchange’s executives that $1 billion flowed through the platform to entities tied to Iran. A group of senators followed, urging Treasury Secretary Scott Bessent to report on Binance’s adherence to the 2023 settlement. “Binance is committed to cooperating with the independent monitor and our ongoing collaboration with relevant agencies,” a spokesperson for the exchange told Cointelegraph in response to the report. The spokesperson said:“We welcome constructive feedback from the Treasury and view this oversight as an important part of continuously strengthening our compliance and anti-money laundering controls. We are providing the monitor with full cooperation and transparency.”Binance’s ties to the Trump administration have come under scrutiny since a United Arab Emirates-based entity invested $2 billion in the crypto exchange using the USD1 stablecoin issued by World Liberty Financial, the company co-founded by US President Donald Trump and his sons. Trump also pardoned former Binance CEO Changpeng Zhao in October 2025. Related: US authorities freeze $344M in crypto linked to IranZhao pleaded guilty to one felony charge related to failure to maintain an anti-money laundering regime at Binance as part of the 2023 settlement.Changpeng Zhao speaking at Consensus on Thursday. Source: CointelegraphZhao rules out leading another crypto companyThe Information’s report coincided with Zhao’s appearance at the Consensus conference in Miami on Thursday. The former CEO said he had been “trying to avoid [the] US” but floated the idea of revitalizing Binance.US to give users access to global liquidity. He also dismissed the idea of being in a leadership role at a crypto company again, having resigned as Binance CEO in November 2023.“I don’t think I’ve got the stamina to run another startup, to lead another company,” said Zhao. “I’m a one-trick pony. I’m okay with that level. I’m done.”Magazine: Guide to the top and emerging global crypto hubs: Mid-2026Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.