LBank Exchange listed PEPEAI (PEPEAI) on May 12, 2023, an innovative cryptocurrency token that combines the world of artificial intelligence (AI) and memes. The PEPEAI/USDT trading pair is now officially available for trading. 

South Korean lawyer and politician Kim Nam-kuk has announced that he will sell his cryptocurrency holdings following allegations of a conflict of interest.

A leaked memo has revealed that Democrats are unifying their stance on cryptocurrency regulation, criticizing Republicans for not prioritizing investor protection and consumer interests. The memo accuses Republicans of prioritizing the Commodities Futures Trading Commission (CFTC) over the U.S. Securities and Exchange Commission (SEC) in regulating the market. Democrats argue that the U.S. regulatory system has successfully fostered innovation in the financial system for decades and accommodating new regulatory structures for non-compliant crypto companies is unnecessary. The memo also emphasizes the importance of supporting SEC Chairman Gary Gensler and providing the necessary resources for effective regulation. This ongoing political struggle highlights the significance of crafting effective regulations as the market continues to grow and attract mainstream attention.

The upcoming presidential elections in Turkey on May 14th have become a topic of intense debate, as the two leading candidates, Recep Erdogan and Kemal Kilicdaroglu, have opposing views on cryptocurrencies. Erdogan has declared "war" on Bitcoin and supports the launch of a digital lira, while Kilicdaroglu is a proponent of cryptocurrencies and Web3. The election outcome is uncertain, with a runoff potentially on the cards. Kilicdaroglu's vision for a country where entrepreneurs and young people can exist freely, with the help of the brightest minds from both Turkey and around the world, has gained support from Turkish crypto enthusiasts.

Around 50% of North Korea's secretive missile program could be funded by cyberattacks and cryptocurrency theft, according to Anne Neuberger, the U.S. deputy national security adviser for cyber and emerging technology. American intelligence agencies are intensively tracking down North Korean operatives, and the U.S. Department of Treasury is working to locate stolen crypto.

Bitcoin (BTC) has seen a 2.8% drop in the past 24 hours, with a high of $28,280 and a low of $27,058, settling at $27,368 at the time of writing. Over the past week, the top cryptocurrency by market cap has experienced a clear downtrend, losing 6% and wiping out $45 billion from its market cap.

The United States Internal Revenue Service (IRS) has utilized blockchain analysis to confiscate approximately $10 billion worth of cryptocurrency during investigations into digital asset-related crimes. The head of the IRS Criminal Investigation (CI) unit, Jim Lee, shared insights into how the agency has tackled the use of cryptocurrency and digital assets in financial crimes during an exclusive interview with Cointelegraph at the Links conference in Amsterdam. The CI unit has been successful in seizing billions of dollars involved in cryptocurrency-related crimes, including the 2016 Bitfinex hack. Additionally, the CI unit shares its expertise and tools with law enforcement agencies worldwide and has reminded taxpayers to report crypto income ahead of the 2022 filing deadline.

The Royal Group, an investment business managed by a prominent member of Abu Dhabi's royal family, has reportedly taken a negative stance on US equities and moved most of its portfolio into short-term US Treasury bonds. The organization has accumulated an extensive short position on certain US stocks worth billions of dollars and is increasing its investments in commodities and cryptocurrency. The goal is to capitalize on the jittery market sentiment that has developed as a result of the failure of four US institutions and the growing likelihood of a slowdown in economic activity around the world. It remains to be seen how this will impact the price of Bitcoin, as its recent behavior has been inverse to that of Wall Street.

At the Bloomberg Wealth Asia Summit, Eddie Yue, the Chief Executive of the Hong Kong Monetary Authority (HKMA), stated that cryptocurrency firms moving to Hong Kong should expect strict regulations as part of the city-state's new regulatory regime. Despite this, over 80 firms have expressed interest in applying for a license in the city, which is preparing to launch its new licensing regime for virtual asset service providers on June 1. Hong Kong's crypto exchange licensing guidelines are also set for release in May, according to Julia Leung, chief executive of the Securities and Futures Commission.

PayPal, a financial technology company, has revealed its cryptocurrency holdings in a quarterly report filing to the Securities and Exchange Commission (SEC).