The United Kingdom’s Financial Conduct Authority (FCA) has requested public feedback on proposed regulations for stablecoins and cryptocurrency custody.

In a May 28 request for comment, the United Kingdom’s financial regulator announced that its regulatory proposals are “the latest milestone on the road to crypto regulation.” The draft rules are based on prior roundtables and industry feedback. David Geale, executive director of payments and digital finance at the FCA, said the agency aims to support innovation while ensuring market trust:

“At the FCA, we have long supported innovation that benefits consumers and markets. At present, crypto is largely unregulated in the UK. We want to strike a balance in support of a sector that enables innovation and is underpinned by market integrity and trust.”

The FCA also noted it will work with the UK’s central bank to regulate stablecoins. Bank of England Deputy Governor Sarah Breeden said, “For those stablecoins that expect to operate at systemic scale, the Bank of England will publish a complementary consultation paper later this year.”

Related: UK outpaces global crypto ownership growth in 2025: Gemini report

Ensuring stablecoins remain stable

The FCA said that its rules “aim to ensure regulated stablecoins maintain their value.” The regulator said customers must be clearly informed about how the backing assets are managed. It also recommended that stablecoin issuers appoint independent third-party custodians to hold reserve assets:

“We propose to require issuers to provide holders with the right to redeem qualifying stablecoins at par value with the reference currency, irrespective of the value of the backing assets portfolio, with a payment order placed to an account in the name of the holder at the latest by the end of the business day following receipt of a valid request.“

Breeden added that the FCA’s proposals are part of a broader effort to build the UK’s stablecoin regime.

Related: UK to require crypto firms to report every customer transaction

Crypto custody rules incoming

The FCA’s proposals also introduce new requirements for firms providing crypto custody services, as outlined in a separate discussion paper. The rules are designed to ensure that user assets are secure and can be accessed at any time:

“The FCA’s proposals would require firms providing crypto custody services, who have responsibility for keeping consumers’ crypto safe, to ensure they are effectively secured and can be easily accessed at any time.“

Proposed measures also aim to reduce both the likelihood and impact of crypto firms failing, both in the crypto custody and stablecoin sectors. The ongoing efforts also follow the recent revelation by UK Chancellor of the Exchequer Rachel Reeves of plans for a “comprehensive regulatory regime” aimed at making the country a crypto leader.

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The United Kingdom’s Financial Conduct Authority (FCA) has requested public feedback on proposed regulations for stablecoins and cryptocurrency custody.

In a May 28 request for comment, the United Kingdom’s financial regulator announced that its regulatory proposals are “the latest milestone on the road to crypto regulation.” The draft rules are based on prior roundtables and industry feedback. David Geale, executive director of payments and digital finance at the FCA, said the agency aims to support innovation while ensuring market trust:

“At the FCA, we have long supported innovation that benefits consumers and markets. At present, crypto is largely unregulated in the UK. We want to strike a balance in support of a sector that enables innovation and is underpinned by market integrity and trust.”

The FCA also noted it will work with the UK’s central bank to regulate stablecoins. Bank of England deputy governor Sarah Breeden said, “For those stablecoins that expect to operate at systemic scale, the Bank of England will publish a complementary consultation paper later this year.”

Related: UK outpaces global crypto ownership growth in 2025: Gemini report

Ensuring stablecoins remain stable

The FCA said that its rules “aim to ensure regulated stablecoins maintain their value.” This also means that customers should be provided with clear information on how the backing assets are being managed. The regulator said customers must be clearly informed about how the backing assets are managed. It also recommended that stablecoin issuers appoint independent third-party custodians to hold reserve assets:

“We propose to require issuers to provide holders with the right to redeem qualifying stablecoins at par value with the reference currency, irrespective of the value of the backing assets portfolio, with a payment order placed to an account in the name of the holder at the latest by the end of the business day following receipt of a valid request.“

Breeden added that the FCA’s proposals are part of a broader effort to build the UK’s stablecoin regime.

Related: UK to require crypto firms to report every customer transaction

Crypto custody rules incoming

The FCA’s proposals also introduce new requirements for firms providing crypto custody services, as outlined in a separate discussion paper. The rules are designed to ensure that user assets are secure and can be accessed at any time:

“The FCA’s proposals would require firms providing crypto custody services, who have responsibility for keeping consumers’ crypto safe, to ensure they are effectively secured and can be easily accessed at any time.“

Proposed measures also aim to reduce both the likelihood and impact of crypto firms failing, both in the crypto custody and stablecoin sectors. The ongoing efforts also follow the recent revelation by UK Chancellor of the Exchequer Rachel Reeves of plans for a “comprehensive regulatory regime” aimed at making the country a crypto leader.

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Non-fungible tokens (NFTs) caught an uptick in sales in May after months of consistent decline throughout 2025. 

Data from CryptoSlam shows that May’s NFT sales climbed to $430 million, up from $373 million in April, a 15% increase. It marks the first monthly sales increase this year, suggesting renewed interest in digital collectibles. 

This follows a five-month decline in sales since volume peaked at over $900 million in December 2024. May also had the highest number of transactions in 2025, reaching 5.5 million, according to CryptoSlam. 

The sales uptick may be attributed to the divergence between unique NFT buyers and NFT sellers. NFT buyers continued to increase in May, while sellers declined. 

Chart compiled by Cointelegraph to demonstrate CryptoSlam data on NFT monthly sales. Source: CointelegraphNFT sellers dwindle, while buyers increase

May showed a significant jump in unique buyers. The number of users buying NFTs rose by 50% to over 936,000 in May, up from around 622,000 in April.

May’s figures are the largest buyer count since October 2024, hinting at growing investor participation during the month. 

While buyers increased, the number of unique sellers continued to decline. In May, NFT sellers fell to around 284,600, the lowest amount recorded on the CryptoSlam platform since April 2021. 

The divergence between the growing buyer interest and shrinking seller activity could set the stage for more competitive bidding, which may lead to higher valuations. 

Chart compiled by Cointelegraph to demonstrate CryptoSlam data on NFT buyers and sellers. Source: Cointelegraph 

Related: Alchemy acquires no-code NFT launchpad HeyMint for undisclosed amount

NFTs set for a comeback in 2025

CryptoSlam strategist Yehudah Petscher said that the market is poised for a rebound, but with a more tempered outlook than its previous highs. 

“The NFT market will see a bounce back this year, probably just after BTC sees its top of the cycle,” Petscher told Cointelegraph, suggesting that the momentum in digital collectibles will follow broader crypto market trends. 

Despite the bullish sentiment, the strategist told Cointelegraph that the NFT comeback might not be similar to the space’s 2021 or 2022 peak. “Don’t expect a repeat of the 21/22 euphoria that we saw in NFTs,” Petscher said. 

Meanwhile, DappRadar analyst Sara Gherghelas said in a May 27 report that the sector needs new catalysts to fully rebound. The analyst said real-world assets (RWAs) linking with NFTs could reignite the lending sector of digital collectibles. 

RWA NFTs also showed potential earlier this year. In April, digital collections in the RWA marketplace Courtyard drove Polygon-based NFT sales to $22.3 million. This allowed the blockchain to surpass Ethereum in weekly sales.

Magazine: Pranksy: Inside the anonymous life of an NFT legend — NFT Collector

Non-fungible tokens (NFTs) caught an uptick in monthly sales in May after months of consistent decline throughout 2025. 

Data from CryptoSlam shows that May’s NFT sales climbed to $430 million, up from $373 million in April, a 15% increase. It marks the first monthly sales increase since the start of the year, suggesting renewed interest in digital collectibles. 

This follows a five-month decline in sales since volume peaked at over $900 million in December 2024. May also had the highest number of transactions in 2025, reaching 5.5 million, according to CryptoSlam. 

The sales uptick could also be attributed to the divergence between unique NFT buyers and unique NFT sellers. NFT buyers continued to increase in May, while sellers declined. 

Chart compiled by Cointelegraph to demonstrate CryptoSlam data on NFT monthly sales. Source: CointelegraphNFT sellers dwindle, while buyers increase

May also showed a significant jump in unique buyers. The number of users buying NFTs rose by 50% to over 936,000 in May, up from around 622,000 in April.

May’s figures are the largest buyer count since October 2024, hinting at growing investor participation during the month. 

While buyers increased, the number of unique sellers continued to decline. In May, NFT sellers fell to around 284,600, the lowest amount recorded on the CryptoSlam platform since April 2021. 

The divergence between the growing buyer interest and shrinking seller activity could set the stage for more competitive bidding, which may lead to higher valuations. 

Chart compiled by Cointelegraph to demonstrate CryptoSlam data on NFT buyers and sellers. Source: Cointelegraph 

Related: Alchemy acquires no-code NFT launchpad HeyMint for undisclosed amount

NFTs set for a comeback in 2025

CryptoSlam strategist Yehudah Petscher said that the market is poised for a rebound, but with a more tempered outlook than its previous highs. 

“The NFT market will see a bounce back this year, probably just after BTC sees its top of the cycle,” Petscher told Cointelegraph, suggesting that the momentum in digital collectibles will follow broader crypto market trends. 

Despite the bullish sentiment, the strategist told Cointelegraph that the NFT comeback might not be similar to the space’s 2021 or 2021 peak. “Don’t expect a repeat of the 21/22 euphoria that we saw in NFTs,” Petscher said. 

Meanwhile, DappRadar analyst Sara Gherghelas said in a May 27 report that the sector needs new catalysts to fully rebound. The analyst believes real-world assets (RWAs) linking with NFTs could reignite the lending sector of digital collectibles. 

RWA NFTs also showed potential earlier this year. In April, digital collections in the RWA marketplace Courtyard drove Polygon-based NFT sales to $22.3 million. This allowed the blockchain to surpass Ethereum in weekly sales.

Magazine: Pranksy: Inside the anonymous life of an NFT legend — NFT Collector

Sui (SUI) is making a strong technical case for a 100% price rally in the coming weeks, helped further by a slew of optimistic updates, such as the recent Nasdaq ETF filing with the US Securities and Exchange Commission (SEC).

Gooner EMA support raises 40% SUI bounce potential

As of May 28, SUI has reclaimed the “Gooner EMA” as support on the weekly chart.

SUI/USDT weekly price chart. Source: NebraskanGooner/TradingView

Gooner EMA is a technical indicator created by trader NebraskanGooner that uses the 11- and 22-period exponential moving averages (EMA). When the price crosses above the EMA range, it often leads to further gains.

When the price closes below the EMA range, it tends to follow deeper losses.

SUI lost this support, roughly between $3.34 and $3.59, last week after a $200 million exploit hit Cetus, a decentralized exchange built on the Sui blockchain.

Related: Sui validators vote on $162M Cetus recovery plan to restore user funds

Now that SUI has reclaimed the zone, bullish sentiment is returning, according to NebraskanGooner.

He wrote:

“As long as it can hold Gooner EMA support, it can retest ATHs. Depending on market conditions — it even has a chance for a new ATH.”

SUI’s current record high is around $5.36, roughly 40% above the current prices.

Fibonacci retracement levels and SUI’s prevailing ascending channel setup project $7.56 as the new record-high target, up over 100% from the current levels.

SUI/USD daily price chart. Source: TradingViewNasdaq files for SUI ETF

NebraskanGooner’s bullish outlook for SUI appears almost a week after Nasdaq’s SUI ETF application with the US Securities and Exchange Commission (SEC).

21Shares already offers a Sui exchange-traded product (ETP) in Europe, listed on both Euronext Paris and Euronext Amsterdam. Since its launch in July last year, SUI’s price has surged by over 350%.

SUI/USDT three-day price chart. Source: TradingView

These listings have also helped boost total assets under management (AUM) in SUI-based ETPs to $317.2 million, according to a May 26 report from CoinShares.

Between May 16 and May 24 alone, SUI products attracted $2.9 million in inflows, ranking just behind Bitcoin (BTC), Ether (ETH), Solana (SOL) and XRP (XRP) in terms of net assets.

The regulatory approval for Nasdaq’s SUI ETF remains uncertain, akin to most crypto ETF applications.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Elon Musk’s artificial intelligence company xAI has partnered with Telegram to integrate its AI chatbot Grok across the messaging platform, according to Telegram CEO Pavel Durov.

Telegram and xAI have agreed to a one-year partnership to distribute Grok to a billion Telegram users and integrate it into its apps, Durov announced on X on May 28.

As part of the agreement, Telegram will receive $300 million in cash and equity from Musk’s AI company, in addition to 50% of revenue from xAI subscriptions sold via Telegram, the CEO noted.

“This summer, Telegram users will gain access to the best AI technology on the market,” Durov said in a post on his Telegram channel.

Grok integration begins with Telegram

According to a promo video accompanying Durov’s announcement, the partnership is expected to bring a wide rollout of Grok features within the messenger.

Accessible via the search bar on Telegram, Grok will offer threaded chats, smart text editing, chat summaries, document digests, inbox agents, group chat moderation and more.

Source: Pavel Durov

Neither xAI nor Grok had confirmed the partnership independently at the time of publication.

Related: Durov blocked from attending Oslo Freedom Forum — Human Rights Foundation

Some commentators speculate that Musk will soon create his own Telegram channel following the partnership.

Toncoin spikes over 20% on a series of Telegram news

The news comes amid several Telegram-related stories published on May 28, including BlackRock’s reported participation in the messenger’s $1.5 billion bond sale and ex-Visa crypto executive Nikola Plecas joining the TON Foundation as its new vice president of payments.

Telegram works closely with the TON Foundation, picking Toncoin (TON) as the messenger’s only accepted cryptocurrency for app services in January.

Toncoin (TON) 24-hour price chart. Source: CoinGecko

Toncoin has rallied on the news, seeing a 20% spike within a few hours. According to data from CoinGecko, TON is trading at $3.60 and is currently the 19th largest cryptocurrency with a market capitalization of $8.9 billion.

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