CryptoLaw founder and pro-XRP lawyer John Deaton has praised Uphold for not suspending XRP trading despite the SEC's allegations that the coin is a security. Deaton called it one of the best decisions in crypto history, citing "conflicted and compromised" SEC officials. Uphold recently launched its institutional business and trading platform, with XRP still listed on its exchange. While other exchanges like Coinbase and Kraken delisted XRP after the SEC charged Ripple and two of its executives with offering unregistered securities, Uphold has continued to list the coin.

The Bank for International Settlements, which acts as a bank for central banks, has released a new paper on retail central bank digital currencies. Central banks from Canada, Europe, Japan, Sweden, Switzerland, England, and the US are exploring the use of CBDCs for retail purposes. The group of central banks first published a paper in October 2020 and has now released a new paper called "Central bank digital currencies: ongoing policy perspectives." The banks are considering the need to ensure ongoing retail access to central bank money amidst ongoing changes in finance, technology, and society. They also see private innovation as an important factor in creating CBDCs.

Hong Kong has been identified as the most crypto-ready jurisdiction in the world, with the highest number of blockchain startups per 100,000 people and a significant number of crypto ATMs relative to its population, according to a study by Forex Suggest. The city is also attractive to investors as it does not tax capital gains on crypto.

Hong Kong's Securities and Futures Commission (SFC) has announced that it will accept applications for crypto trading platform licenses starting from June 1. The SFC will allow licensed virtual asset providers to serve retail investors, but only if operators assess their understanding of the risks involved. The guidelines also require crypto exchanges to maintain a minimum of HKD 5,000,000 in capital and submit monthly reports to the SFC. The revised guidelines, which include clarifications on anti-money laundering requirements and criteria for fining platforms for breaching them, will come into force on June 1.

The South Korean government is proposing an amendment to the Public Service Ethics Act that would require public officials to disclose their cryptocurrency holdings. The draft highlights concerns that some officials are abusing their positions and using their access to investment information to unfairly protect their property. The proposed amendment would require all virtual assets to be registered, regardless of the amount, and specify relevant details such as the method of calculating or displaying the value of a digital asset. The draft is currently in the committee review stage and is expected to be submitted for a final vote on May 25th.

The International Organization of Securities Commissions (IOSCO) has released its policy recommendations for public comment on crypto and digital asset markets. The recommendations cover a range of issues, including market abuse, conflict of interest, client asset protection, and disclosures. The Fintech Task Force (FTF), established by IOSCO to develop regulatory agendas for fintech and crypto, is made up of 27 of 33 board member jurisdictions and has two working groups focused on crypto assets and decentralized finance (DeFi). The call for tougher crypto regulations has been renewed following the collapse of stablecoin issuer Terra and crypto exchange FTX last year, and global crypto rules will be based on a joint Financial Stability Board and International Monetary Fund synthesis paper.

Hong Kong is planning to allow retail investors to trade top cryptocurrencies like Bitcoin and Ethereum, as part of its efforts to become a leading crypto hub and attract global exchanges and firms. The Hong Kong Securities and Futures Commission is expected to announce new rules for retail investors' participation in crypto on May 23, with retail access set for June 1. However, the commission has warned investors about the risks associated with cryptocurrency trading and advised them to conduct their own research before investing. Additionally, an updated list of presale projects for 2023 and Telegram channels related to crypto have been released for those interested in investing in the crypto market.

The ruling party of South Korea, the People Power Party (PPP), has urged for the implementation of crypto laws and regulations for high-level government officials and lawmakers as soon as possible. While the current timeline for the enforcement of crypto rules is set for December, the PPP is requesting for it to be expedited. The proposed bill also mandates that government officials and lawmakers disclose their cryptocurrency holdings in their annual asset reports, which would increase transparency. This move towards crypto regulations coincides with Hong Kong's own crypto laws, and the introduction of formal crypto laws in South Korea will provide clarity for crypto businesses operating in the country. In addition, we have updated our list of crypto presale projects and Telegram channels for 2023, so stay informed and ahead of the game with these valuable resources.

The UK will need to create new laws or modify existing ones to accommodate a digital pound, according to two lawyers interviewed by CoinDesk. The Bank of England and the UK Treasury are seeking feedback on their plans for a digital pound, which officials say will likely be necessary in the future. If the UK decides to issue a central bank digital currency (CBDC), new legislation will be required to define the characteristics of a digital pound, and current data, privacy, and anti-money laundering rules will need to be amended to accommodate such a currency. Ownership issues and security will also need to be addressed in the legal framework for a digital pound. Additionally, Morris suggests that more consideration needs to be given to how people's concerns will be addressed, and specific amendments may be required regarding the government's use of data related to the digital pound. Only when such changes are made will people feel comfortable using it.

MetaMask, a popular crypto wallet, has caused confusion and backlash within the crypto community after updating its terms of service. The new terms allow MetaMask to withhold taxes from a user's wallet if they fail to pay taxes themselves, which goes against the principle of decentralization and financial freedom that the crypto community values. MetaMask has not yet clarified this matter. This update follows a previous backlash faced by ConsenSys, the developer of MetaMask, regarding its data collection practices. For those looking to invest in crypto, here is a comprehensive list of presale projects and Telegram channels to keep an eye on for potential growth and profitability in 2023.