Even though owing to the UST-LUNA fallout, crypto markets struggled in May, month five brought a number of important developments for the industry, especially in Europe as crypto made a huge splash at Davos, Binance doubled down on its European expansion, Grayscale entered the European ETF market, and we also made headlines for receiving regulatory approval in Switzerland.

Elsewhere, Australia got its first crypto ETFs, Tether entered the Mexican market, Coinbase exited India, and in the US, the CFTC declared it would be increasing its oversight of the sector.

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Global

Global crypto regulatory body is coming soon, says IOSCO chair Ashley Alder. More

Europe

Grayscale debuts ETF in Europe. More

ECB’s Lagarde says while crypto has no worth, she would back digital euro. More

Council of Europe calls for crypto laundering clampdown. More

Belgium

Belgium’s FSMA requires new crypto companies to register in May. More

France

France approves Binance to operate digital asset trading services. More

Germany

CZ: Binance wants to apply for a crypto license in Germany. More

Italy

Binance registers legal entity in Italy amid European move. More

Binance gets approval to operate in Italy, will open office in Milan. More

Norway

Norway selects Nahmii to build CBDC sandbox, may include public blockchain. More

Portugal

Portugal may move to tax crypto gains soon. More

Portuguese congress rejects two bills seeking to tax crypto. More

Russia

Russia considers allowing cryptocurrency for international payments as sanctions over Ukraine bite. More

Spain

Binance disables derivatives services in Spain, seeks regulatory approval: report. More

Sweden

Bitcoin and Ethereum are not currencies, states Swedish Central Bank. More

Switzerland

Copper's Swiss unit approved to join self-regulatory body VQF. More

Ukraine

Cryptocurrency crash devalues Ukraine’s government crypto fundraise. More

UK

UK government targets crypto in latest legislative agenda. More

Financial regulator cautions UK against rushing to create ‘crypto hub’. More

UK Treasury en route to legalising stablecoins amid Terra's UST crash. More

Crypto adoption increases in the UK. More

Tax pressure is increasing on UK crypto investors. More

Americas

Argentina

Argentina’s largest private bank launches crypto trading feature. More

Brazil

Brazilian crypto exchange refunds all UST holders 1:1. More

Mercado Bitcoin partners with Stellar to create MVP for Brazilian CBDC. More

El Salvador

El Salvador spends $15m on bitcoin to ‘buy the dip’. MoreMoneyGram to open transfer platform with Stellar, eyes wallet deal in El Salvador. More

Mexico

Tether enters Latin America with Mexican peso-pegged stablecoin. More

Paraguay

Paraguay approves crypto regulation bill via 40-12 vote. More

United States

Bitcoin Mining Council rebuts House Democrats in letter to EPA. More

SEC doubles down on crypto regulation by expanding unit. More

California governor issues blockchain executive order building on US President’s regulatory efforts. More

SBF-founded political action committee vows to bring an ‘Orange Wave’ in Washington. More

FTX.US applies for trust charter in New York. More

CFTC expected to add more resources to better monitor crypto markets. More

Former BitMEX CEO Arthur Hayes faces 6 to 12 months in jail at sentencing hearing Friday. More

Binance US hires former DOJ official as head of legal. More

CFTC charges two men with $44m cryptocurrency ‘Ponzi scheme’. More

Stablecoins may not be part of SEC’s jurisdiction, Commissioner Peirce says. More

WEF 2022: Ripple CEO reveals he visited SEC several times before lawsuit struck. More

Coinbase becomes the first crypto company to enter the Fortune 500. More

MicroStrategy trading at 18-month low following crypto and stock market drop. More

Bankman-Fried faces down roomful of futures industry insiders at CFTC roundtable. More

Circle asks US Fed not to step on its toes by launching a digital dollar. More

Brainard tells House committee about potential role of CBDC, future of stablecoins. More

SEC shoots down One River proposal for carbon-neutral bitcoin ETF. More

Chairs from the SEC and CFTC talk crypto regulation at ISDA meeting. More

Caribbean

Bahamas 

The Bahamas’ ‘Sand Dollar’ needs improved cybersecurity, IMF says. More

Crypto Bahamas signals stronger ties between old and new. More

Middle East & North Africa

Israel

OECD proposes to tighten CRS and crypto rules. More

UAE

GMT to build advanced data centre in the UAE to boost Bitcoin mining power. More

Dubai businesses embrace crypto as the future of payments. More

A peek into Dubai’s first Metaverse marriage. More

South Asia

India

Indian IT Ministry directs crypto exchanges to store user data for 5 years. More

India cooperates with IMF on crypto consultation paper. More

India includes crypto businesses in new rules for cyber security. More

Coinbase CEO says exited India crypto market in three days due to 'informal pressure from RBI' but will return. More

India 'fairly ready' with crypto consultation paper, government official says. More

India may expand taxes on crypto beyond IT and TDS – government reportedly mulling 28% GST. More

Kazakhstan

Kazakhstan formalises reporting regime for cryptocurrency miners. More

Pakistan

Pakistan forms committees to decide whether crypto should be legalised or banned. More

Pakistanis trade $19bn/yr in crypto, mostly via unofficial channels. More

Uzbekistan

Uzbekistan publishes crypto regulation framework, assigns supervising agency. More

East Asia & Pacific

Australia

First crypto ETFs to launch in Australia. More

Crypto regulation high on the agenda for Australia’s new Prime Minister. More

Australian consumer group calls for urgent regulation of crypto. More

China

Stepn to block mainland China users in compliance with regulators, SCMP says. More

China trials digital yuan CBDC student card to track purchases. More

Hong Kong

Samsung Asset to list blockchain ETF on Hong Kong Exchange: report. More

Hong Kong police arrest conman after he vanished with over $191k belonging to a crypto trader. More

Indonesia

Indonesia imposes tax and VAT on crypto income and purchases. More

Japan

Japan’s Prime Minister reportedly open to idea of crypto tax reform. More

Singapore

Singapore starts digital-asset initiative amid crypto departures. More

NFTs ruled as digital assets after Singapore court freezes blockchain sale of Bored Ape. More

Retail investors should not invest in crypto, says Singapore deputy PM. More

North Korea

US agencies warn of attempts by North Koreans to get IT jobs while concealing nationality. More

Philippines

Philippines to explore blockchain use cases, launches training program. More

South Korea

South Korea reportedly slams Terra’s Do Kwon with $78m fine for tax evasion. More

Court documents reveal Do Kwon dissolved Terraform Labs Korea days before LUNA crash. More

Terraform Labs has no tax liabilities in Korea, Do Kwon says. More

Korean police seek freeze on Luna Foundation Guard assets. More

Korean prosecutors summon all Terraform Labs staff in UST collapse probe: JTBC. More

Thailand

Thailand exempts crypto transfers from VAT until end of 2023. More

Africa

Central African Republic

Central African bank regulator reminds states of crypto ban. More

Nigeria

Nigeria upgrades CBDC as crypto restrictions cripple fintech industry. More

Nigeria's markets regulator publishes rules on crypto assets. More