Investors are growing increasingly concerned as both the cryptocurrency and stock markets continue to decline without any resolution in sight for the debt ceiling deal. The price of gold remains stagnant, while Bitcoin and the cryptocurrency market have both dropped by 2%.

According to the Jiangbei District Procuratorate in Ningbo, the first large-scale cryptocurrency theft case in Ningbo has resulted in seven defendants being sentenced to prison terms ranging from three years to four years and ten months for the crime of theft. From June to December 2021, the defendants, led by Su, implanted Trojan horse software on websites and lured others to download it, which allowed them to remotely control and steal virtual currency from victims' accounts.

Japan's parliament has decided to implement stricter Anti-Money Laundering (AML) measures from June 1st, in response to the Financial Action Task Force (FATF) deeming Japan's previous AML legislation insufficient. The new measures aim to align Japan's legal framework with global cryptocurrency regulations and include the enforcement of the "Travel Rule" to enhance the tracking of criminal proceeds. The G7 Committee expressed support for the Travel Rule and emphasized the importance of global standards for cryptocurrencies. By implementing these measures, Japan aims to enhance transparency and security in cryptocurrency transactions and strengthen its position as a leader in crypto regulation.

Christy Goldsmith Romero, a commissioner at the Commodity Futures Trading Commission (CFTC), has stated that there is too much cryptocurrency fraud for the agency to police all of it. She added that cryptocurrency cases account for around 20% of the CFTC's portfolio, including recent civil cases against Binance and FTX exchanges. While Goldsmith Romero denied any "turf war" between the CFTC and the Securities and Exchange Commission over regulating crypto, she acknowledged that the agencies are still figuring out how to regulate the industry's new products. She also warned crypto companies not to view the CFTC as a "light touch regulator."

As cryptocurrencies gain popularity, many are curious about using them to purchase Amazon gift cards. This article highlights the benefits of doing so, such as lower transaction fees, instant settlement, and protection against fraudulent chargebacks. Although Amazon doesn't accept crypto payments directly, buying gift cards with digital assets is a simple and secure way to use them on the platform. In fact, some platforms offer discounts for using cryptocurrency to purchase Amazon gift cards, which can provide additional incentives. This method also offers exposure to traditional markets and goods, making it a viable alternative to direct crypto payments.

According to a research report by Bank of America, the near-term outlook for cryptocurrency markets is limited due to low conviction, limited catalysts, and outperformance year-to-date. The bank predicts that digital assets will remain in a trading range with a challenging macro backdrop likely capping their upside. Hedge funds are returning to token trading, with momentum strategies likely benefiting from heightened volatility due to declining trading volumes. However, retail investors are expected to remain on the sidelines, while traditional finance companies and tech firms continue to build blockchain applications focused on tokenizing demand deposits, repo settlements, and bond issuance.

Despite a decrease in price in 2023, the total supply of Terra Classic (LUNC) tokens has not been reduced through coin burn. On the other hand, Copium is burning 30% of its supply to increase the value of the remaining coins, causing the price of $COPIUM to rise by over 100%. Plans to reduce the supply are attracting buyers, and $COPIUM has higher potential than LUNC due to its limited total supply and NFT reward airdrops. The NFT airdrop date for Copium has not been announced, but the tokens can be kept or traded on the secondary market. The Copium token has a strong social community and plans to generate buzz through PR for the upcoming token burn. To purchase $COPIUM, a crypto wallet funded with ETH is needed for decentralized exchanges or an account can be set up for centralized exchanges. More information can be found on the Copium Club website.

According to Yonhap News Agency, the first subcommittee of the National Assembly's Political Reform Special Committee held a bill review this morning and unanimously passed a parliamentary legal amendment that requires elected members of the National Assembly to register their virtual assets with the National Assembly Ethics Committee. The amendment aims to include virtual assets in the subject of the "private interest registration" of legislators under current legal provisions to prevent potential conflicts of interest in related legislative activities. The special committee for reform will hold a plenary session later today to pass the amendment and plans to finally approve the bill at the plenary session on May 25th.

US authorities have charged a Russian man, Mikhail Pavlovich Matveev, for his alleged involvement in multiple ransomware schemes that earned him and other attackers nearly $200 million, much of which was obtained through cryptocurrency. The victims of these attacks included hospitals, schools, and police departments. Matveev was part of three ransomware gangs: Lockbit, Babuk, and Hive.

Ethereum has been struggling to break through its 100-day moving average at $1772, and its recent price action has failed to indicate a clear direction, leaving the market uncertain. The cryptocurrency faces two critical support levels at $1772 and $1.7K, and a break of the latter could trigger a cascade as long positions get liquidated and selling pressure soars.