2025-05-26 11:22:59
The crypto law in Ukraine has been withdrawn from consideration. Bitcoin reacts with a drop to US tariff threats. Kraken is preparing 24/7 stock trading. Solana has unveiled the most extensive update in its history
The Office of the President has blocked the cryptocurrency law
Ukraine has once again postponed regulation of virtual assets, according to People's Deputy Yaroslav Zheleznyak. According to him, the bill disappeared from the agenda after a meeting at the President's Office.
Zheleznyak believes that Ruslan Magomedov, head of the National Securities and Stock Market Commission, influenced the decision. He demanded that the process be completely halted despite the readiness of the Ministry of Finance, the National Bank, and other agencies to finalize the law for a second reading.
The main Magomedov's complaints are:
- The document does not comply with European MiCA regulations.
- The proposed regulations were not agreed upon with the Rada on financial stability and with international partners.
- The document allegedly allows services not registered in Ukraine to operate in the market, which could pose a risk to national security.
Moreover, the head of the NSSMC insists that the bill be submitted to the Security Service of Ukraine for evaluation. Zheleznyak called this a manipulation and noted that the lack of regulation hinders the development of the crypto market and causes the country to lose tax revenues.
Meanwhile, the Trustee Plus crypto wallet announced that from May 20, 2025, it will no longer register new users from Ukraine. The reason is the lack of legal certainty.
The project team emphasized that already registered Ukrainian users, as well as EU residents, will continue to use the wallet. However, entry into the Ukrainian market has been frozen indefinitely.
According to Trustee Plus CEO Vadym Hrusha, the team is focusing on EU countries where clear crypto regulations are already in place. He added that the delay in passing the law in Ukraine is setting the country back in the global race for blockchain innovations.
Bitcoin Recovers After EU Tariffs Are Suspended: Trump Gives Extension Until July
Bitcoin showed high volatility amid US President Donald Trump's decisions on tariffs on goods from the EU.
It was originally assumed that 50% tariffs would come into effect on June 1, 2025. This caused a sharp decline in the Bitcoin exchange rate, which fell by more than 3% to $107,430 (as of May 25, 2025). The crypto market as a whole also came under pressure: the largest digital assets fell in price by 2.6%–4%, and positions worth $541.5 million were liquidated in one day, of which almost $400 million were long positions.
However, the situation changed on May 26. The White House announced a tariff delay until July 9, 2025, which market participants took as a positive signal. As a result, Bitcoin rose again, climbing to $110,128 (+2% per day).
The US president criticized the trade imbalance with the EU and called it "unacceptable," citing a $250 billion deficit, as well as VAT, fines for American companies, and currency manipulation. He also threatened Apple with a 25% tariff if the company does not return production to the US. These statements caused anxiety in the financial markets — EU car manufacturers' shares fell, S&P 500 futures declined, but demand for gold and government bonds rose.
As a reminder, on May 22, 2025, Bitcoin hit a new all-time high of $111,970 amid ongoing investment in cryptocurrency ETFs.
Kraken Announces 24/7 Trading of Apple and Tesla Shares
The Kraken cryptocurrency exchange will launch trading in tokenized securities of leading global companies, including Apple, Tesla, and Nvidia. The new type of digital asset will be called xStocks. Investors from Europe, Asia, Africa, and Latin America will have access to them. Trading will take place 24/7.
Digital assets will be linked to real stocks or investment funds (ETFs), and Solana will serve as their blockchain. In addition to participating in trading, tokens can be used as collateral in crypto transactions, and users will be able to store them in their wallets and transfer them to other platforms.
In this way, Kraken will simplify access to US stocks for investors from other countries where transactions through traditional brokers remain expensive and slow. The company added that it is working with regulators in various countries to legalize xStocks in local markets.
Solana Introduces Alpenglow, Its Largest Network Upgrade Since Its Creation
The Solana blockchain team has announced the launch of a new consensus protocol called Alpenglow, which, according to the developers, will be the largest update in the network's history. The goal is to make Solana the fastest global blockchain platform suitable for real-time decentralized applications.
According to project co-founder Anatolii Yakovenko, Alpenglow enables block finality in just 100–150 milliseconds, bringing the network's speed closer to that of traditional web infrastructure.
Alpenglow abandons the old mechanism of distributing information through "gossip" — an algorithm in which nodes randomly transmit data to other network participants — as if spreading rumors in favor of direct communication. The new protocol speeds up data processing and remains stable even in unstable network conditions. Alpenglow can continue to operate even if up to 20% of nodes behave maliciously and another 20% are temporarily unavailable.
The Solana team has released a white paper detailing the new protocol's architecture, algorithms, simulations, and mathematical proofs.
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