Crypto Briefing — 2026-05-25

Summary

• Morgan Stanley, Grayscale, and BitGo intensify Wall Street's crypto race with ETF products and IPO plans
• Congress proposes IRS review of crypto de minimis tax exemptions for reform
• Bitcoin Depot files for bankruptcy as crypto ATM industry faces challenges
• Iranian businessman reportedly used Binance to help regime evade sanctions
• Blockchain.com confidentially files for US IPO, expanding crypto listing pipeline
• Ark Invest purchases $12.5 million in Bullish stock over four days
• US Treasury sanctions drug traffickers for crypto money laundering
• FBI warns of $388 million in crypto ATM scam losses
• Minnesota opens crypto custody to banks while banning crypto ATMs
• Copper seeks $500 million sale as crypto custody market consolidates
• Missouri AG sues crypto ATM network for enabling scams
• Tether acquires SoftBank's stake in joint crypto investment venture
• US military advantages from blockchain and crypto technology highlighted
• South Korea may abandon 22% crypto tax after investor backlash
• Federal authorities seize assets tied to alleged crypto Ponzi scheme
• SEC shuts down 'Riscoin' over crypto scam allegations
• Trump Media transfers $205M in Bitcoin to Crypto.com
• Consumer watchdogs warn about crypto kiosk scam proliferation
• Trump advocates for crypto bank access amid GOP PAC demands

Wall Street Giants Accelerate Crypto Adoption

Morgan Stanley's ETF expansion, Grayscale's staking initiatives, and BitGo's IPO filing signal Wall Street's intensifying crypto competition. Traditional finance giants are rapidly building crypto infrastructure to capture market share as institutional adoption accelerates.
Read Full Article: CoinDesk

Congress Pushes Crypto Tax Reform

Congressional legislators have proposed directing the IRS to review de minimis exemptions for cryptocurrency transactions. The move aims to simplify tax compliance for small crypto transactions and could significantly impact everyday crypto usage if implemented.
Read Full Article: CoinDesk

Bitcoin Depot Files for Bankruptcy

Bitcoin Depot has filed for Chapter 11 bankruptcy protection as its crypto ATM network goes offline. The collapse highlights ongoing challenges in the crypto ATM sector amid regulatory scrutiny and declining usage rates.
Read Full Article: Banking Dive

Binance Allegedly Used to Evade Iran Sanctions

A sanctioned Iranian businessman reportedly helped the regime circumvent international sanctions through the Binance cryptocurrency exchange. The allegations add to regulatory concerns about crypto platforms' role in sanctions evasion.
Read Full Article: The Times of Israel

Blockchain.com Files for US IPO

Blockchain.com has confidentially filed for a US initial public offering, joining a growing pipeline of crypto companies seeking public listings. The move reflects increasing institutional acceptance and maturation of the crypto industry.
Read Full Article: unchainedcrypto.com

Ark Invest Bets Big on Bullish

Cathie Wood's Ark Invest purchased $12.5 million worth of Bullish stock in just four days. The significant investment demonstrates continued institutional confidence in crypto infrastructure companies despite market volatility.
Read Full Article: CoinDesk

Treasury Sanctions Crypto Money Launderers

The US Treasury has sanctioned drug traffickers for laundering profits through cryptocurrency networks. The action reinforces government efforts to combat illicit crypto use while maintaining legitimate market operations.
Read Full Article: Bloomberg

FBI Warns of $388M Crypto ATM Scam Losses

The FBI has issued warnings about surging crypto ATM scam losses exceeding $388 million. Criminals increasingly exploit crypto ATMs to defraud victims, particularly targeting elderly and vulnerable populations through social engineering tactics.
Read Full Article: SC Media

Minnesota Opens Crypto Custody to Banks

Minnesota law now permits banks and credit unions to offer crypto custody services, with one credit union already implementing the capability. The legislation represents progressive state-level crypto regulation enabling traditional financial institutions to serve crypto customers.
Read Full Article: Bitcoin Magazine

Copper Seeks $500M Sale

Crypto custody firm Copper is exploring a sale valued at $500 million. The potential transaction reflects ongoing consolidation in the crypto custody sector as institutional demand drives valuations and market restructuring.
Read Full Article: CoinDesk

Minnesota Bans Crypto ATMs and Prediction Markets

Minnesota has enacted legislation banning crypto ATMs and prediction markets within the state. The restrictive measures contrast with the state's progressive custody laws, highlighting regulatory complexity in crypto policy.
Read Full Article: Yahoo Finance

Missouri AG Targets Crypto ATM Network

Missouri's Attorney General has filed suit against a crypto ATM network for allegedly enabling scams. The legal action represents escalating state-level enforcement against crypto infrastructure perceived as facilitating fraud.
Read Full Article: First Alert 4

Tether Acquires SoftBank Stake

Tether has purchased SoftBank's stake in their joint crypto investment firm. The buyout consolidates Tether's control over the venture and signals the stablecoin issuer's expanding investment activities beyond its core business.
Read Full Article: PYMNTS.com

Crypto Provides US Military Advantage

Analysis suggests blockchain and cryptocurrency technology provide the United States with significant military advantages. The strategic benefits include secure communications, supply chain management, and financial operations in contested environments.
Read Full Article: Fox News

South Korea May Abandon Crypto Tax

South Korea is considering abandoning its planned 22% cryptocurrency tax following substantial investor backlash. The potential reversal demonstrates how public opposition can influence crypto taxation policy in major markets.
Read Full Article: Coinpedia

Feds Seize Assets in Crypto Ponzi Case

Federal authorities have moved to seize luxury homes and vehicles connected to an alleged crypto Ponzi scheme in Central Florida. The enforcement action highlights continued government efforts to prosecute crypto-related fraud.
Read Full Article: WFTV

SEC Shuts Down 'Riscoin' Scam

The Securities and Exchange Commission has shut down 'Riscoin' over allegations of operating a cryptocurrency scam. The regulatory action demonstrates ongoing SEC enforcement against fraudulent crypto projects harming investors.
Read Full Article: Inquirer.net

Trump Media Transfers $205M Bitcoin

Trump Media has transferred 2,650 Bitcoin worth $205 million to Crypto.com, raising Treasury Department questions. The massive cryptocurrency movement has prompted scrutiny regarding the transaction's purpose and compliance implications.
Read Full Article: Bitcoin News

Crypto Kiosks Enable Multiple Scams

Consumer protection agencies report crypto kiosks are increasingly used to facilitate various scam operations. The widespread abuse undermines consumer trust and highlights security vulnerabilities in physical crypto infrastructure.
Read Full Article: ConsumerAffairs

Trump Advocates Crypto Bank Access

Former President Trump has called for expanded crypto bank access while the GOP demands political action committee loyalty on crypto policy. The political positioning reflects cryptocurrency's growing importance in electoral politics and policy debates.
Read Full Article: CoinGeek