The SEC delayed making a decision on Canary Capital’s LTC exchange-traded fund (ETF) proposal. The SEC currently has dozens of altcoin ETF applications to consider after the agency last year approved spot BTC ETFs.

The IRS appointed Trish Turner to lead the agency’s Digital Assets Office following the departure of two key crypto-focused executives. On May 5, Raj Mukherjee and Seth Wilks, two private-sector experts brought in to lead the IRS's crypto unit, exited after roughly a year in their roles. Turner most recently served as a senior adviser within the Digital Assets Office and has spent over 20 years at the IRS.

Rep. Greg Casar (D-TX) criticized President Trump in a post on X for making “$2.9 billion off corrupt crypto deals while trying to kick Americans off Medicaid and cut Social Security services," asserting that "He gets richer. Working people get screwed." Casar also linked to a CBS article finding that President Trump's crypto products have increased his family's wealth by billions of dollars in the last six months.

Sens. Jeff Merkley (D-OR) and Elizabeth Warren (D-MA) wrote a letter to Office of Government Ethics Acting Director Jamieson Greer, calling for a probe into a business deal between the Trump family’s World Liberty Financial, Abu Dhabi-backed investment firm MGX, and Binance. The senators argue that, "The deal, if completed, would represent a staggering conflict of interest, one that may violate the Constitution and open our government to a startling degree of foreign influence and the potential for a quid pro quo that could endanger national security." Merkley and Warren also note the Senate's plans to vote on the GENIUS Act, voicing concern that the bill does not restrict elected officials and their families from participating in stablecoin business ventures.

House Financial Services Committee Ranking Member Maxine Waters (D-CA) announced plans to block today’s joint House Financial Services and House Agriculture hearing on digital assets and instead host a “shadow hearing” focused on the Trump family’s ties to the crypto industry. Her office said in a statement that the decision come after House Financial Services Committee Chair French Hill (R-AR) "refused Waters' request to include provisions in legislation blocking Trump's ability to further enrich himself from crypto." The joint hearing is set to focus on the digital asset market structure draft legislation released by House Republicans on Monday.

Senate Majority Leader John Thune (R-SD) said he is open to amending the GENIUS Act on the Senate floor, adding that he is “waiting to see what it is [Democrats] are asking for.” The comments come after nine previously supportive Senate Democrats said over the weekend that they were withdrawing their support for the stablecoin bill. Minority Leader Chuck Schumer (D-NY) said separately in an interview that both parties are still talking to each other about the legislation.

House Financial Services Committee Chair French Hill (R-AR), House Agriculture Committee Chair GT Thompson (R-PA), and Reps. Bryan Steil (R-WI) and Dusty Johnson (R-SD), released draft legislation to overhaul how crypto is regulated in the US. The draft bill would divvy up crypto regulation between market regulators, expanding the role of the CFTC and curtailing the SEC’s authority. In a one-pager on the discussion draft, the lawmakers outline how the bill would protect consumers by strengthening transparency and accountability, strengthen the market by protecting digital asset projects, and provide clarity to customer-facing digital asset institutions.

Italy’s financial regulator, CONSOB, announced that it has blocked access to four websites “through which services for crypto-activities are abusively provided.” CONSOB ordered Egplus.vip, Egalite.bond, Arbismart UAB, and Blockbyteq to be blocked, noting that the sites provide crypto services to Italian savers without authorizations prescribed in MiCA. CONSOB noted that the order brings the number of websites of fraudulent financial intermediaries that have been blacked out to 1,304.

The EU is set to impose sweeping anti-money laundering rules under the new Anti-Money Laundering Regulation (AMLR), which takes effect in 2027. The bill would prohibit crypto asset service providers (CASPs) from maintaining anonymous accounts or handling privacy-preserving cryptocurrencies. The regulation is part of a broader AML framework that includes bank and payment accounts, passbooks and safe-deposit boxes, "crypto-asset accounts allowing anonymization of transactions," and "accounts using anonymity-enhancing coins." Under the framework, CASPs operating in at least six EU member states will be under direct AML supervision, with plans to select 40 entities in the initial stage.