South Korea to Review Crypto Tax Plan | Catch-Up | May 17 – 23, 2026

From a definitive “changing of the guard” for Ethereum’s most iconic media powerhouse to major billionaires reassessing their portfolios, here are the crypto stories you might have missed this week.

🏛️ Macro & Sovereign Reserves

CZ: Asian Countries Will Build Bitcoin Reserves “Under the Radar”

In his latest commentary, Binance founder Changpeng “CZ” Zhao stated that cultural mindsets will likely drive Asian nations to accumulate Bitcoin reserves quietly. Dismissing the idea that crypto disrupts traditional finance, CZ warned that banks will become completely obsolete if they ignore this technology, pointing out that blockchain’s transparency makes it far easier to trace than traditional legacy banking systems.

South Korea to Review Scrapping Crypto Tax Plan

Following immense public pushback, a national petition in South Korea calling to scrap the country’s upcoming digital asset tax plan garnered 50,000 signatures. As a result, the South Korean government has officially agreed to review throwing out the controversial tax framework altogether.

Billionaire Mark Cuban Liquidates Most of His Bitcoin

Billionaire investor Mark Cuban revealed he has sold off the vast majority of his Bitcoin holdings. Cuban noted that Bitcoin ultimately failed to act as the hedge he expected during recent geopolitical tensions with Iran and a softening U.S. dollar. While he remains long-term positive on Ethereum, he dismissed most other alternative cryptocurrencies as “garbage.”

End of an Era: Bankless Co-Founder Sells Out of ETH

Ethereum-focused media Bankless co-founder David Hoffman announced on X that he has sold the last of his ETH holdings, citing a massive shift in market sentiment over the past two weeks. Co-founder Ryan Sean Adams declared this the official end of Bankless’s “first era,” wrapping up a six-year flagship collaboration on DeFi and Ethereum as the platform pivots to a new chapter with Adams taking a behind-the-scenes role.

💼 Corporate & Global Expansion

• Kraken Lands in Dubai: Major crypto exchange Kraken has successfully secured a VARA (Virtual Assets Regulatory Authority) license, greenlighting its official launch and operations in Dubai.
• Polymarket Eyes Japan: Fresh off historic trading volumes, prediction market giant Polymarket is actively preparing to enter the Japanese market, appointing a new regional representative to lead the expansion.
• Stripe-Backed Cross-Border Rails: Financial giant MoneyGram has been officially named the anchor remittance validator for Tempo, a blockchain ecosystem backed by Stripe.

🛠️ Infrastructure & Tech Updates

Coinbase slashes Compliance Wait Times by 90% via AI

Coinbase CEO Brian Armstrong revealed a massive overhaul of the exchange’s compliance backend. By integrating advanced AI workflows to handle repetitive administrative tasks, Coinbase has reduced account restriction resolution times by 90%, though human staff still verify all final outcomes for security.

Ethereum Layer 2 Consolidation Claims “Zero Network”

The Ethereum scaling landscape continues to weed out smaller players. The Zero Network (developed by the Zerion wallet team) has announced it will wind down its Layer-2 network operations, joining a growing string of rollups shuttering due to a highly saturated market.

🚨 Security Alert

Violent Targeted Kidnapping Attempt in France

The wife of The Sandbox co-founder and COO, Sebastien Borget, was the victim of a violent, targeted kidnapping attempt at her home in Seine, France. Suspects posing as delivery workers tricked her into opening her gates before five masked men attempted to force her into a vehicle. The attackers fled when neighbors intervened. Police have arrested two suspects, and early investigations strongly suggest the motive was linked to the family’s cryptocurrency wealth.

🌐 Weekly Global Summary

This article is published on BitPinas: South Korea to Review Crypto Tax Plan | Catch-Up | May 17 – 23, 2026

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