Consensus Stronto 2025 Reg Highlights

Coindesk held its annual consensus meeting in Toronto this week. It was busy putting it calmly.

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It was a busy week. Looking at the Senate’s ongoing negotiations over the Senate’s stubcoin bill, we’re trying to track down other laws and courts (see probably later), and we’ve met people here in Toronto in general.

Why is it important?

This is a selection of last week’s Coindesk coverage.

I’ll break it

• New York Finance Watchdog Harris says state bitresense is still a global standard
• Anchorage Digital CEO calls DHS Probe’s report “Bully”
• Cantor Fitzgerald Chairman Brandon Lutnick says he personally checked Tether’s reserves
• White House’s Bo Hines says Trump is still on track to sign cryptograph by August
• Bitgo executives say the bank is exploring Stablecoin amid fears of losing market share
• World Liberty’s Stablecoin is now available across multiple networks via ChainLink
• Trump Memecoin, Crypto Stocks Make “more complex” legislation: French Hill Legislator
• Eric Trump says he entered the code amid political attacks and calls Bitcoin “Digital Gold”
• PayPal Crypto Head says that banks are necessary to unlock the possibility of a full Stablecoin
• Dave Portnoy says the meme coins are “gambling” and are not built to last long
• Kevin O’Leary: “I want more regulation, and now I want it.”
• “A truly amazing example”: Coinbase praised Huck’s response amid $400 million crisis
• Stablecoins “contribute meaningful innovation for global payments,” says Ripple Exec

• Coinbase can pay customers up to $400 million for data breach. Crypto Exchange Coinbase said that malicious actors suffered from cybersecurity violations, which allow them to secure customer names, addresses, phone numbers, social security numbers and bank account details. These actors are allegedly using personal information to fraudulent customers, and Coinbase says it will refund customers and expects to pay between $180 million and $400 million.
• Movement Lab secretly promised advisors to millions with tokens, the leaked document shows: Another scoop by Sam Kessler of Coindesk reveals that Movement Lab has committed to sending an assignment of advisor tokens, but the move said these contracts were non-binding.
• The French minister agrees to measures to protect crypto experts after the invitation. It has become very common recently to try and lure people with codes or their loved ones have codes. French Minister of Home Affairs Bruno Reciro has agreed to strengthen security measures.
• The Senate’s new Stablecoin Draft is not targeting Trump’s ciphers. The US Senate has new legislative text for its stablecoin bill, which is scheduled for coagulation vouchers on Monday. Coagulation is a motion to move forward with discussion, requiring a vote in favor of 60 votes to pass. In other words, lawmakers will need bipartisan support to move forward with the bill.
• The US Senate Stubcoin Push lives on as Bill might return to the floor: Source: Coindesk reported earlier this week that new legislative text for the Senate Stablecoin bill had arrived and that a vote would be held soon.
• Telegram shuts down “the biggest illegal online marketplace” after Elliptic’s insights. Telegram has closed its Huione warranty (renamed Haowang warranty). It cites research firm Elliptic’s identification of more than $27 billion in Stablecoin transactions.
• Prosecutors say that despite Blanche’s memo, the DOJ will still pursue the Roman storm case. The Justice Department said it will consider prosecutors in Rome’s storm and will proceed along with much of the charges against tornado cash developers, consistent with Deputy Attorney General Todd Blanche’s April memo on “prosecutorial restrictions.”
• The SEC is investigating Coinbase more than concerns about misrepresenting user numbers. Coinbase is spending a week.
• FTX, which pays creditors over $5 billion as bankrupt real estate, prepares for distribution. FTX creditors will begin watching payments from the exchange’s bankrupt real estate on May 30th.
• DOJ will charge 12 for $263 million crypto theft linked to Genesis creditors. The U.S. Department of Justice has charged 12 people allegedly stole more than $263 million in connection with a previous investigation that saw fraudsters steal $243 million from bankrupt crypto trading company Genesis from creditors.
• Ripple SEC bids for XRP settlements rejected by a judge citing “procedural flaws”: A federal judge overseeing the Securities and Exchange Commission’s long-term lawsuit against Ripple has rejected the proposed settlement, citing jurisdiction and procedural concerns.
• Trump-bound world Liberty Financial refuses to investigate US senators. World Liberty Financial opposed the investigation into Senator Richard Blumenthal’s business.
• CFTC Commissioner Mersinger becomes CEO of Blockchain Association: Commissioner Summer Mersinger leaves CFTC on May 30th and will become the next CEO of the Blockchain Association next month.
• CFTC’s Pham says he plots the exit, and the agency could be left without a majority of the party. Foreman Caroline Fam told people he was planning on leaving as soon as he confirmed that former committee chair Brian Quintz would become the agency’s permanent chairman, Coindesk’s Jesse Hamilton reported.
• CFTC’s Christi Gold Smith Romero to leave the agency at the end of the month: Commissioner Christy Goldsmith Romero said he would leave on May 31st.

Monday

• 17:00 UTC (1:00 PM ET) SEC held its latest crypto roundtable. This time we focused on tokenization.

Wednesday

• The Consensus Stronto Conference for Coindesk has begun.

• (Variety) Warner Bros. Discovery will rebrand the Max streaming service as HBO Max after previously rebranding HBO Max to Max. Dream Job: Does anyone rebrand things?
• (New York Times) Trump Memocoin buyers told the Times they wanted to explicitly test and influence policies with the president.
• (New York Times) The company, which has a small number of employees making videos for Tiktok, said it plans to buy up to $300 million Trump Memecoin Tokens. Last year, we registered zero revenue.

If you have any thoughts or questions about other feedback I want to share next week, please email me to nik @coindesk.com or find me at bluesky @nikhileshde.bsky.social.

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Check out ya’ll next week!