The recent update to Ledger's service has caused concern among the crypto community, as it allows seed phrases to be sent to other companies. While users can opt out, trust has been damaged. Some are requesting a technical explanation of the new feature, as it is unclear if the seed can only be backed up at creation time. Others are urging people to stop using Ledger hardware wallets altogether. Additionally, a new crypto regime in Hong Kong will begin on June 1st, and Pepe (PEPE) has been added to Kraken. Meanwhile, the slow pace of SEC rule making is not only embarrassing for the US, but also poses a real danger. Other regulators have responded to crypto more quickly. Meme coins like #PEPE are being used for money laundering, and Justin Sun has criticized the younger brother of Huobi founder Lilin for obtaining zero-cost HT and selling it, and will burn these HTs. Finally, the Dutch Central Bank has moved $15 billion, including 200,000 kg of bars and coins, with the assistance of police and military.