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18 May 2026, 22:31
Minnesota says no to crypto kiosks, greenlights banks for crypto custody
Minnesota Governor Tim Walz has signed new legislation that authorizes state-chartered banks and credit unions to hold Bitcoin and other digital assets for customers. However, a few days earlier, the governor signed into law a separate bill that now bans cryptocurrency kiosks across the state. Both measures take effect August 1, 2026. The custody bill, HF 3709, went through the state’s legislature and received a relatively high bipartisan backing. The bill went through a vote on April 30, when the House approved it 130-4. The next stop was at the Senate, which passed the amended version 51-16 on May 6, and the House concurred with those amendments 119-6 on May 11. What can Minnesota banks do with crypto? Financial institutions that opt in can safeguard, control, or administer virtual currencies in a fiduciary or custodial capacity. However, the law does not extend to trading, investing, or lending digital assets. Institutions that want to launch custody services must file a written notice with the Minnesota Department of Commerce at least 60 days in advance. The institutions are also required to maintain policies covering risk management, cybersecurity, internal controls, and business continuity. Also, they are prohibited from mixing customer holdings with the institution’s own assets. Under the new law, banks and credit unions can hire qualified third-party custodians but remain on the hook for compliance. The Department of Commerce retains authority to shut down services it deems unsafe or unsound. Rep. Bernie Perryman, who sponsored the House version, framed the bill as a competitive necessity. Local institutions pointed to direct demand from members. St. Cloud Financial Credit Union told lawmakers that roughly 20% of its members already own crypto but lack a trusted, regulated local option for storage, often turning to out-of-state or unregulated platforms. With this law coming into effect in August, the union members may now have the solutions delivered to them. The Minnesota Credit Union Network and the Department of Commerce both backed the bill, citing consumer protection and alignment with existing federal guidance on bank custody services. Kiosk ban targets fraud against seniors The custody authorization arrived alongside SF 3868, a separate measure Walz signed on May 5 that outlaws virtual-currency kiosks statewide. Operators must decommission existing machines by August 1. That ban followed months of testimony from law enforcement across the state. Minnesota had roughly 400 licensed kiosk locations, found in gas stations, laundromats, and grocery stores. However, scammers used the machines to trick victims, disproportionately older adults, into converting cash to crypto under false pretenses, according to MinnPost . Faribault police reported over $500,000 in kiosk-related losses since 2022. Apple Valley recorded more than $248,000 lost in two years. Minneapolis police investigated $82,000 in Bitcoin kiosk fraud in 2025 alone. Sam Smith, the Department of Commerce’s government affairs director, told lawmakers the average loss per reported kiosk scam in Minnesota was $6,700. Only 48% of victims recovered any money, and those who did got back an average of just 16% of what they lost. Minnesota joins Indiana and Tennessee as the third state to pass an outright kiosk ban. Tennessee’s House Bill 2505, signed by Governor Bill Lee on April 13, criminalized kiosk operation as a Class A misdemeanor, Cryptopolitan previously reported . The law did not receive support from all quarters, especially from kiosk operators, with Larry Lipka, general counsel for kiosk operator CoinFlip, which runs 50 machines in Minnesota, stating that scammers exploit many payment channels and that tighter regulation, not a ban, is the better path. Standard Chartered rides crypto custody wave Minnesota is part of a growing cohort of states carving out formal custody roles for community banks and credit unions. Wyoming created a special-purpose depository institution charter. Nebraska built a digital asset banking framework. Minnesota’s version is not as expansive as the others, as it only extends authority to existing institutions rather than creating new charter types. In another development that reflects increasing institutional appetite for crypto custody, Standard Chartered has announced a deal to acquire digital asset custodian Zodia Custody , aiming to fold the service into its financing and securities business. It is not yet known if Standard Chartered plans on launching custodial services in Minnesota. However, how financial institutions leverage the latest law looks to be seen. Don’t just read crypto news. Understand it. Subscribe to our newsletter. It's free .
18 May 2026, 22:31
HYPE Jumps On Bitwise’s Hyperliquid ETF Move—Galaxy Secures BitLicense In NY
The entire crypto market opened the week on a turbulent note, with Bitcoin (BTC) giving back about 6% over the past seven days. Even with the broader market’s pullback, Hyperliquid’s native token, HYPE, stood out from the competition. HYPE Jumps On Bitwise’s 10% Fee-To-Token Plan One of the key drivers behind the altcoin’s Monday strength came from Bitwise. In a post on X (previously Twitter), the asset manager said it plans to devote 10% of the management fees from its Bitwise Hyperliquid ETF, BHYP, to holding HYPE on its balance sheet. Bitwise also said the newly launched fund provides investors with indirect exposure to HYPE tokens, along with staking rewards, giving the product a linkage to the token’s broader value proposition rather than simple spot exposure. The result was a noticeable lift in the token’s price action during the session. At the time of writing, the token was hovering near the $50 mark, trading around $46, and edging closer to last year’s all-time highs near $59—roughly 20% away from that peak if momentum continues. Yet despite these positive developments in the Hyperliquid space, Galaxy Digital’s stock told a different story on the same day. Galaxy’s NYDFS Approval Shares of Galaxy, ticker GLXY, fell by almost 6%, slipping back to around $27.87 to close Monday’s trading session. At the same time, Galaxy also announced an important regulatory milestone earlier on Monday. The company received a BitLicense from the New York State Department of Financial Services (NYDFS), a step that is widely viewed as a sign of expanding institutional access for crypto firms. Galaxy said the NYDFS granted GalaxyOne Prime NY, the Galaxy entity designed to serve New York clients, both a BitLicense and a Money Transmission License. In a statement, Galaxy Founder and CEO Mike Novogratz said New York is home to the deepest pool of institutional capital in the country, emphasizing that digital assets are no longer “sitting at the edge” of those allocations. He also noted that Galaxy was built to meet that demand and now can serve New York’s institutions more directly. Featured image created with OpenArt, chart from TradingView.com
18 May 2026, 22:27
How Did Anthropic’s Claude AI Help Recover 5 BTC Locked Crypto Wallet for 11 Years?
A Bitcoin holder using the name cprkrn on X said he recovered 5 BTC from a wallet that had been inaccessible for more than 11 years after using Anthropic’s Claude AI to review old computer files and assist with the recovery process. The recovered Bitcoin was worth close to $400,000 at a Bitcoin price near $79,622. The user said the funds had been locked after he changed a Blockchain.com wallet password years ago and later lost access to the correct credentials. Claude AI Helped Locate BTC Old Wallet Backup According to posts shared by cprkrn, the recovery began after he uploaded old college computer files, notes, and wallet-related data to Claude as a final attempt. The AI system reportedly identified an old encrypted wallet backup file among the stored material. The user said Claude then helped review the recovery workflow using btcrecover, an open-source tool widely used for crypto wallet password recovery. Screenshots posted to X showed Claude analyzing the decryption process and identifying how the tool handled password logic. The recovery depended on an old mnemonic and password information that the user said he had found in a college notebook. Claude reportedly helped match that information with the old wallet backup, allowing the user to decrypt the file and access the private keys. Bitcoin Recovery Followed Years of Failed Attempts The wallet owner said he had tried commercial recovery services before using Claude, paying about $250 per failed attempt. He also said he had tested trillions of password combinations through brute-force methods without success. In a later post, cprkrn said the recovery effort included searches across two Macs, two external drives, Apple Notes, emails, Twitter direct messages, notebooks, and other old files. He said about 3.5 trillion password attempts were tested through tools such as btcrecover and Hashcat. The successful method did not involve breaking a seed phrase. Instead, the user said an older wallet backup could be decrypted with a previously known password. Since Bitcoin private keys remain the same even when wallet encryption changes, decrypting the backup allowed access to the same funds. A post from another crypto user noted that Claude did not “crack” Bitcoin security. The AI assisted in finding and using a local encrypted file that the owner already controlled. Case Raises Attention Around AI and Crypto Recovery The recovery story drew wide attention on X, gaining millions of views and responses from crypto market figures, wallet companies, and investors. Some users described the case as an example of how AI tools can assist with technical research, file review, and software troubleshooting. However, the case has also raised security concerns since uploading wallet backups, private keys, seed phrases, or related files to any AI system can expose sensitive financial data. Consequently, crypto users should not share private credentials with online tools unless they fully understand the risks. The recovery also drew attention because of cprkrn’s reaction online. In one post, he joked that he planned to name his child after Anthropic CEO Dario Amodei after recovering the Bitcoin, which was worth nearly $400,000 at the time. The incident adds to wider interest in dormant Bitcoin wallets. Many older wallets remain inactive because owners have lost passwords, misplaced seed phrases, or discarded devices. Some recovery cases depend on whether users kept old hard drives, wallet files, notebooks, or cloud backups.
18 May 2026, 22:27
Minnesota approves crypto custody for banks, bans all ATMs
🚨 Minnesota lets banks and credit unions offer $BTC custody from August 1. All crypto ATMs and kiosks in the state are banned on the same date. ⚡️ Key point: Bitcoin Depot, a major ATM operator, filed for bankruptcy right after the ban was approved. Continue Reading: Minnesota approves crypto custody for banks, bans all ATMs The post Minnesota approves crypto custody for banks, bans all ATMs appeared first on COINTURK NEWS .
18 May 2026, 22:20
SEC to propose tokenized stock framework as Wall Street efforts deepen: Bloomberg
The U.S. Securities and Exchange Commission is reportedly poised to release a major crypto proposal as it seeks to institute its digital assets agenda.
18 May 2026, 22:20
Bitcoin World Poll: 5 of 7 Analysts Predict BTC Price Rally This Week
BitcoinWorld Bitcoin World Poll: 5 of 7 Analysts Predict BTC Price Rally This Week A new poll conducted among Bitcoin World-affiliated chart analysts reveals a predominantly bullish outlook for Bitcoin this week. Five out of seven market technicians surveyed expect the leading cryptocurrency to trade higher over the next seven days, with price targets ranging from $73,000 on the low end to $84,000 on the high end. Analyst Sentiment and Price Targets The poll, which gathers weekly forecasts from a panel of experienced chart analysts, shows a clear tilt toward optimism. The two bearish analysts, however, did not provide specific downside targets beyond the general expectation of a decline. The highest bullish target of $84,000 suggests some analysts anticipate a breakout above recent resistance levels, while the $73,000 floor indicates that even the most conservative forecasts see price stability above key support. Bitcoin has been trading in a relatively narrow range over the past several weeks, with the broader crypto market showing mixed signals. The split in analyst opinion reflects the uncertainty many traders feel, though the majority view leans positive. Why This Matters for Traders Weekly analyst polls like this one offer a snapshot of short-term market sentiment, which can influence trading decisions and position sizing. While not a guarantee of future performance, a 5-to-2 bullish ratio is a notable signal that professional chartists see technical setups favoring upward movement. For retail traders, understanding the range of analyst expectations — from $73,000 to $84,000 — can help set realistic profit targets and stop-loss levels. The poll also highlights the importance of not relying on a single forecast, as even among experts, opinions vary significantly. Reader Participation and Incentive Bitcoin World is inviting readers to cast their own vote on where Bitcoin will head this week. Participants can choose their price direction and target via the provided link. As an incentive, 100 randomly selected voters will receive coffee coupons. This interactive element allows the community to compare their views against the professional panel. Conclusion The latest Bitcoin World analyst poll points to a broadly bullish week ahead for Bitcoin, with a 5-to-2 majority forecasting gains. Price targets between $73,000 and $84,000 provide a framework for traders to plan their strategies. As always, readers are encouraged to conduct their own research and consider multiple data points before making trading decisions. FAQs Q1: What is the highest Bitcoin price target from the analysts this week? The highest price target among the surveyed analysts is $84,000. Q2: How many analysts are bearish on Bitcoin this week? Two out of seven analysts forecast a decline in Bitcoin’s price this week. Q3: Can readers participate in the poll? Yes, readers can vote on the price direction and target via the provided link, with 100 randomly selected participants receiving coffee coupons. This post Bitcoin World Poll: 5 of 7 Analysts Predict BTC Price Rally This Week first appeared on BitcoinWorld .
