Polymarket Exec Says KYC Limited To Beta Product

Polymarkets clarification comes as the platform faces widening access restrictions across several jurisdictions.  As of Thursday, Polymarket listed dozens of restricted jurisdictions, including countries where users are blocked from placing orders and others where access is limited to closing existing positions.  In April, Brazil moved to block 27 prediction market platforms, including Polymarket and Kalshi, after authorities said the services operated outside the countrys legal framework.  In May, Spains gambling regulator also blocked local users from Polymarket and Kalshi as a “precautionary measure” while authorities pursued legal proceedings over alleged unlicensed gambling activity.  Despite the restrictions, Polymarket has continued to pursue expansion in major markets. In April, the company was reportedly in talks with the US Commodity Futures Trading Commission over a broader US relaunch, and in May, it was reportedly seeking entry into Japan despite the countrys strict gambling laws.  Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraphs Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

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Argentina bill targets crypto gambling payments

Argentina has proposed a bill that would block banks, payment firms, and crypto providers from serving illegal online gambling sites.Argentinas bill would block banks, payment firms, and crypto providers from serving illegal gambling operators.The proposal adds prison terms of three to six years for running unauthorized betting systems.Argentinas move follows Polymarket blocks as countries tighten rules on crypto-based prediction markets.  Argentinas government has introduced the Bill for the Prevention of Gambling and Regulation of Online Gambling. The proposal aims to control online betting and reduce gambling addiction.  The Ministry of Health said the bill seeks to organize the virtual betting market. It also aims to protect children and teenagers from online gambling platforms.  The bill would involve several state bodies. These include the central bank, securities regulator, communications agency, and domain registry.  How would the bill affect crypto payments?  The proposal directly targets financial access for illegal gambling sites. It would stop banks, payment firms, and virtual asset providers from serving unauthorized operators.  Argentinas anti-gambling bill puts crypto exchanges on the hook for unlicensed betting  Argentinas Health Ministry (@MinSalud_Ar) submitted a gambling-addiction prevention bill to Congress that, for the first time, explicitly names virtual asset service providers. Banks,… pic.twitter.com/HR8jwT1TXg  — BSCN (@BSCNews) May 28, 2026  The ministry said, “financial

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Make the U.S. Home: Bessent Pushes for Swift Crypto Legislation

Without the Clarity Act, customers of bankrupt digital asset exchanges have no guaranteed right to their own assets.  Instead, they are forced to join a creditor line alongside Wall Street firms and expensive lawyers. “They join a creditor line w/ other Wall Street firms and expensive lawyers and hope for the best. This is a consumer protection failure Congress must fix,” she said.  Other political figures and commentators, such as Patrick Witt, have joined the chorus of voices advocating for greenlighting the bill.  The current state of the Clarity Act  The bill the U.S. House of Representatives with strong bipartisan support in July 2025. However, it has since stalled in the Senate due to a variety of factors (including the standoff between Coinbase and the banking sector).  Recently, it took a major step forward, with the Senate Banking Committee finally marking up its version of the CLARITY Act in a 15-9 vote.  With that being said, it is still unclear whether the bill will actually pass. Polymarket bettors give the Clarity Act only a 56% chance of actually being signed into law (at the time of writing this article).  There will still be a need for full floor votes to pass a future reconciled version. However, Congress

05-29

OKX Ventures acquires 19.6% stake in South Korean crypto exchange Coinone

OKX Ventures has agreed to acquire a 19.6% stake in South Korean cryptocurrency exchange Coinone through an 80 billion won ($53 million) investment, expanding the global exchange group‘s presence in one of Asia’s largest digital asset markets.OKX Ventures will invest $53 million in Coinone, securing a 19.6% stake pending regulatory approval.Korea Investment & Securities is making a matching investment, with both firms set to become Coinones joint third-largest shareholders.The deal comes as South Korean financial institutions increase crypto investments and expand work on stablecoin and tokenized asset initiatives.  According to a statement released by Coinone, the company has signed strategic equity investment agreements with OKX Ventures, Korea Investment & Securities (KIS), and South Korean gaming firm Com2uS and its affiliate.  Pending regulatory approval and completion of the transaction, OKX Ventures and KIS will each hold a 19.6% stake in Coinone after investing 80 billion won apiece. Coinone said the two investors are expected to become the exchanges joint third-largest shareholders behind Chief Executive Officer Cha Myung-hun, who holds 27.8%, and Com2uS Holdings and its affiliated company, which together control 25%.  Coinone stated that the transaction will combine secondary share purchases from Cha and Com2uS with subscriptions to newly issued shares.  Coming after Binance‘s acquisition

05-29

Sui Network Recovers After 6-Hour Mainnet Outage, SUI Drops 6.6% as P2P.org Launches Validator Data Stream

Tech  Sui Network Recovers After 6-Hour Mainnet Outage, SUI Drops 6.6% as P2P.org Launches Validator Data Stream  The Sui mainnet resumed full operations early Friday after a nearly six-hour halt triggered by a crash bug in the gas charging logic introduced through the layer-1s 1.72 release. Engineers identified the defect, rolled out a patch to validators, and confirmed that activity had restarted, while warning that a full incident review will follow in the coming days. Validators on the blockchain were still flagged with degraded performance even after the network came back online. The disruption marked the second multi-hour stall on Sui in 2026, raising fresh questions about the resilience of high-throughput layer-1 infrastructure that markets itself for institutional-grade settlement.  The latest interruption is the second major downtime event for the network within five months, with the prior stall in January also lasting more than six hours. During Thursday‘s outage, the protocol failed to produce a new block for an extended window, with block explorers showing transaction processing paused while engineers worked on a fix. The network’s native token slid 5.4% in the 24-hour window, trading near $0.92 and underperforming Bitcoin, Ethereum, and other large-cap altcoins during the stall. The recurrence drew comparisons to

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OKX Pours $53M Into Coinone, Paxos Wins SEC Clearing Nod, Bessent Reaffirms No-CBDC Stance

Tech  OKX Pours $53M Into Coinone, Paxos Wins SEC Clearing Nod, Bessent Reaffirms No-CBDC Stance  OKX Ventures, the investment arm of the global exchange operator OKX, has agreed to acquire a 19.6% stake in South Korean crypto exchange Coinone for KRW 80 billion, or roughly $53 million. Korea Investment & Securities will commit an identical sum on the same terms, lifting the combined transaction value to about $106 million pending regulatory sign-off. The deal blends secondary share purchases from existing holders with newly issued equity, leaving Coinone CEO Cha Myunghun as the largest shareholder at 27.8% while Com2uS Holdings retains 25%. OKX and KIS will become joint third-largest investors as Coinone pivots toward stablecoins and tokenized securities.  The Coinone transaction caps an aggressive month of institutional capital flowing into Korea‘s regulated crypto venues. Three Samsung subsidiaries disclosed a combined $408 million injection into Upbit operator Dunamu for a 4% stake on Thursday, while Mirae Asset earlier moved to take 92% of rival exchange Korbit. KB Kookmin, Shinhan and NHN KCP have separately partnered with the Solana and Avalanche networks to pilot tokenized deposit and stablecoin rails. Senior OKX executives framed the Coinone tie-up as a bet on compliant infrastructure, signalling that Seoul’s strict

05-29

VanEck launches first U.S. spot BNB ETF on Nasdaq

Asset manager VanEck has launched the first U.S. exchange-traded fund offering spot exposure to BNB, further expanding its crypto ETF offerings.  The VanEck BNB ETF, trading under the ticker VBNB, began trading with shares backed by BNB held in cold storage through custodian Anchorage Digital Bank, according to the company. The fund carries a sponsor fee of 0.39% and is listed on Nasdaq.  The ETF gives investors exposure to BNB through traditional brokerage accounts without requiring them to buy or store the token directly. BNB is the native token of BNB Chain and is used to pay network transaction fees across the blockchain ecosystem.  VanEck said BNB Chain processes more than 14 million transactions per day and supports over 2.5 million daily active users. The firm also cited Artemis data showing the network holds more than $16 billion in stablecoins and $3.6 billion in tokenized real-world assets.  The launch follows amended filings from VanEck and Grayscale tied to proposed spot BNB ETFs.  Spot bitcoin ETFs launched in the U.S. in January 2024, followed later by spot ether ETFs. These have since seen their total net assets surge to $86.45 billion and $11.6 billion respectively, according to SoSoValue data. ETFs for other altcoins including SOL, DOGE,

05-29

DTCC Stellar Deal: XLM vs XRP Misconception Explained

Tech  DTCC Stellar Deal: XLM vs XRP Misconception Explained  DTCC‘s Stellar Move Is Not XRP’s Exit — It May Be the Start of a Multi-Chain Financial System  The between the Depository Trust & Clearing Corporation (DTCC) and the Stellar Development Foundation has sparked immediate debate in crypto circles, with some rushing to frame it as a shift toward “XLM over XRP” in institutional markets.  Realistically, this interpretation misses the bigger picture because DTCCs decision to enable tokenized DTC-held assets on the Stellar network does not necessarily signal that XRP or the XRP Ledger are being pushed aside.  Instead, analysts increasingly believe the move reflects the emergence of a broader multi-chain financial architecture where different blockchain networks serve different institutional functions.  DTCCs Blockchain Strategy Goes Beyond Stellar — Why XRP Still Matters  According to OpenFind founder Tom, the market has become on the May 27 Stellar announcement while overlooking the wider sequence of events surrounding DTCCs blockchain strategy.  The timeline tells a more complete story because on May 4, DTCC launched a that included Ripple participation. On May 12, DTCC adopted Chainlinks CRE standards to support cross-chain interoperability. Then on May 27, DTCC formally announced support for tokenized asset issuance on Stellar.  Therefore,, these developments point less to exclusivity and

05-29

New Zealand Dollar advances above 0.5950 as RBNZ signals faster and larger rate hikes

Finance  New Zealand Dollar advances above 0.5950 as RBNZ signals faster and larger rate hikes  The NZD/USD pair gathers strength to around 0.5955 during the early European session on Friday. The New Zealand Dollar (NZD) edges higher against the US Dollar (USD) amid hawkish signals from the Reserve Bank of New Zealand (RBNZ).  RBNZ Governor Anna Breman said early Friday that the Official Cash Rate (OCR) is likely to increase sooner and by more than previously signalled, citing Middle East conflict-driven inflation, weaker growth and rising input costs across New Zealand and its trading partners.  The New Zealand central bank kept its OCR on hold at 2.25% at its May meeting on Wednesday. Three board members voted to raise interest rates by a quarter-point while three voted to leave rates unchanged. Markets have repriced the New Zealand rate outlook, with traders now expecting multiple hikes through early 2027.  The US April Personal Consumption Expenditures (PCE) Price Index inflation data show price growth remains elevated in the US, reinforcing expectations that the Federal Reserve (Fed) stays cautious on interest rates. Traders are now pricing in nearly a 36.6% chance that the Fed will raise interest rates by 25 basis points (bps) by year-end, according to the

05-29

WTI holds losses near $86.50 due to tentative US-Iran ceasefire extension

Finance  WTI holds losses near $86.50 due to tentative US-Iran ceasefire extension  West Texas Intermediate (WTI) oil price loses ground for the third successive day, trading around $86.60 per barrel during the early European hours on Friday. Crude oil prices decline on easing supply concerns following reports of a tentative 60-day ceasefire extension between the United States (US) and Iran. This potential geopolitical breakthrough significantly raised prospects for unrestricted shipping through the critical Strait of Hormuz.  According to reports, the agreement would require Iran to clear all maritime mines from the strategic waterway within 30 days. However, traders maintained a degree of caution following a CNN report indicating that US President Donald Trump has yet to officially approve the terms. This hesitation was echoed by Vice President JD Vance, who noted that while the parties are close to a deal, Washington is “not there yet,” while concurrently reminding markets that the US remains positioned to substantially set back Tehrans nuclear program if necessary.  According to ING analysts cited by Reuters, while reopening the strait would offer some immediate relief to the oil market, a full recovery remains highly uncertain. The bank noted that upstream oil production has dropped significantly since the outbreak of the

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