Law & Policy

What happened in the crypto industry last week (May 12-18)

1/ Coinbase breach triggers $400 M risk; class action filed.

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Head of web3&crypto practice at Buzko Krasnov law firm

1/ Coinbase breach triggers $400 M risk; class action filed.
https://www.sec.gov/Archives/edgar/data/1679788/000167978825000094/coin-20250514.htm
https://news.bloomberglaw.com/us-law-week/coinbase-sued-after-scammers-bribed-workers-to-reveal-user-data

2/ SEC pivots: Chair Atkins floats fund self-custody, gentler rule-making.

3/ UK to impose full crypto KYC/Tx reporting from Jan 2026.

3/ UK to impose full crypto KYC/Tx reporting from Jan 2026.
https://www.gov.uk/guidance/collecting-cryptoasset-user-and-transaction-data

4/ DOJ indicts 12-member crypto gang; $263 M stolen.

4/ DOJ indicts 12-member crypto gang; $263 M stolen.
https://www.justice.gov/usao-dc/pr/additional-12-defendants-charged-rico-conspiracy-over-263-million-cryptocurrency-thefts

5/ Celsius founder Mashinsky gets 12-year sentence for fraud.

5/ Celsius founder Mashinsky gets 12-year sentence for fraud.
https://www.bloomberg.com/news/articles/2025-05-08/celsius-founder-alex-mashinsky-gets-12-years-for-crypto-fraud

6/ BlackRock seeks in-kind redemptions for its proposed Ethereum ETF.

6/ BlackRock seeks in-kind redemptions for its proposed Ethereum ETF.
https://listingcenter.nasdaq.com/assets/rulebook/nasdaq/filings/SR-NASDAQ-2025-038.pdf

7/ Senators urge Treasury to ditch unrealized-gain crypto tax.

7/ Senators urge Treasury to ditch unrealized-gain crypto tax.
https://x.com/Cointelegraph/status/1922397164212224339

8/ Coinbase to join S&P 500 on May 19, replacing Discover.

8/ Coinbase to join S&P 500 on May 19, replacing Discover.
https://www.cnbc.com/2025/05/12/coinbase-joining-sp-500-replacing-discover-financial.html

9/ SEC reviewing 21Shares’ Dogecoin ETF filing.
https://www.sec.gov/files/rules/sro/nasdaq/2025/34-103032.pdf

10/ BitGo wins first European MiCA custody licence.

9/ SEC reviewing 21Shares’ Dogecoin ETF filing.
https://www.sec.gov/files/rules/sro/nasdaq/2025/34-103032.pdf

10/ BitGo wins first European MiCA custody licence.
https://cointelegraph.com/news/bitgo-crypto-custody-mica-license-germany

2/ SEC pivots: Chair Atkins floats fund self-custody, gentler rule-making.
https://www.theblock.co/post/353981/sec-chair-paul-atkins-unveils-his-vision-for-crypto-regulation-as-the-agency-charts-a-friendlier-approach-to-digital-assets