KLEA Crypto Daily: Wednesday, May 13, 2026

Published: May 14, 2026 – 00:11 UTC

Key stories from May 13, 2026.

Petition Against Virtual Asset Taxation in South Korea Surpasses 5,000 Signatures

A petition calling for the elimination of virtual asset taxation in South Korea has gained significant traction, amassing over 5,000 signatures on the National Assembly’s e-petition platform. This movement reflects growing concerns among citizens regarding taxation policies related to virtual assets and could lead to a legislative review if it reaches the required threshold of 50,000 signatures.

China’s Yuan Settlements Jump to $214B in March as Russia, Iran Accelerate Dollar Exit

Russia and Iran are increasingly moving away from the U.S. dollar towards the Chinese yuan, with yuan settlements reaching $214 billion in March. This shift, driven by geopolitical pressures and sanctions, indicates a significant change in the global financial landscape and could have lasting implications for international trade and currency dominance.

Senate Votes to Confirm Kevin Warsh as Fed Chair

The U.S. Senate has confirmed Kevin Warsh as the new Chair of the Federal Reserve, succeeding Jerome Powell in a closely watched vote. Warsh’s appointment is expected to have significant implications for future monetary policy and market stability.

IMF Warns of Global Recession Risks Due to Rising Oil Prices

The International Monetary Fund has cautioned that oil prices reaching $120–$130 per barrel could trigger a global recession. This warning highlights the interconnectedness of energy prices and economic stability, raising concerns among policymakers and investors alike.

Coinbase CEO Highlights Progress on Regulatory Clarity for Crypto

Brian Armstrong, CEO of Coinbase, expressed optimism about the potential passage of the CLARITY Act, which aims to provide clearer regulatory guidelines for the cryptocurrency sector. This legislation is seen as crucial for establishing a more stable and predictable framework for digital assets in the U.S., addressing long-standing uncertainties in the market.

Senate Reviews 100+ Amendments to Crypto Bill Amid Tensions

Over 100 amendments have been filed for the Senate crypto bill markup, addressing critical issues such as stablecoins, ethics, and developer protections. This extensive amendment process underscores the contentious nature of the legislation and the challenges it faces in gaining bipartisan support.

Senate Banking to Vote on Market Structure Bill, Federal Court Issues Holding in Event Contracts Case

Senators have reached a compromise on a significant market structure bill that could reshape the regulatory landscape for digital asset exchanges and stablecoin yield payments. This legislation is expected to influence institutional adoption and the overall dynamics of the cryptocurrency market.

Charles Schwab Rolls Out Bitcoin, Ethereum Trading As ETF Outflows Hit $233 Million

Charles Schwab has launched spot cryptocurrency trading for retail investors, allowing them to buy and sell Bitcoin and Ethereum directly through its platform. This move reflects the growing acceptance of digital assets in mainstream finance, coinciding with significant outflows from Bitcoin spot ETFs.

Tokenized Treasury TVL Reaches $15.35 Billion Amid Fed Rate-Hike Speculation

The total value locked in tokenized Treasuries has exceeded $15.35 billion, driven by expectations of potential interest rate hikes by the Federal Reserve. This shift indicates a growing trend among investors towards stable, yield-bearing assets as they navigate a fluctuating market.

Source: KLEA News