China convicts BKEX staff for illegal gambling via crypto contracts
A Chinese court found BKEX’s crypto contract trading functioned as illegal gambling, sentencing employees to prison for facilitating unauthorized betting. Source link
Canadian gov warns of crypto use in illegal opioid trade
The Canadian government has raised concerns about the growing use of cryptocurrencies in the illicit opioid trade, particularly in the trafficking and production of fentanyl and other synthetic drugs. In a recent operational alert, the Financial Transactions and Reports Analysis Centre of Canada outlined how virtual currencies, including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and […]
Polymarket banned in Singapore as ‘illegal gambling website’
Singapore’s Remote Gambling Act of 2014 is basically the “no entry” sign for most online betting activities, unless you’ve got a government-approved stamp of approval. Unfortunately for Polymarket, it didn’t make the cut. Polymarket, the decentralized prediction market platform that allows users to speculate on real-world events using cryptocurrency, can add Singapore to the list […]
Kazakhstan blocks illegal crypto exchanges to combat money laundering
Kazakhstan authorities have blocked over 3,500 illegal cryptocurrency exchanges in a move to address money laundering concerns. According to a recent press release from the AFM RK, the country’s financial watchdog, the regulator liquidated 36 illegal crypto platforms in 2024 with a combined turnover of 60 billion tenge (roughly $112.84 million) and has blocked access […]
Only 54% of illegal crypto ads in UK removed despite FCA crackdown: report
Illegal crypto ads remain widespread as the FCA struggles to crack down, data shows. The British Financial Conduct Authority has failed to remove all illegal crypto ads as nearly half of flagged promotions still online, the Financial Times has learned, citing data obtained through a freedom of information request. Between October 2023 and October 2024, […]
Malaysia’s SC cracksdown Bybit for illegal operations
The Securities Commission of Malaysia has instructed Bybit and its chief officer to cease the operation of all digital platforms in Malaysia and also halt all advertisements targeting Malaysian audiences. The SC published in its media release that it has begun enforcement proceedings against Bybit, a cryptocurrency exchange, and its business chief, Ben Zhou, for providing a […]
Russia’s central bank to combat illegal crypto OTC services with new surveillance platform: report
Russia’s central bank is set to develop a new platform that would help it crack down on illegal crypto OTC services and suspicious financial activities. The central bank of Russia is reportedly planning to create a new platform aimed at making it more difficult for shadow businesses to misuse banking services for illegal activities, including […]
Sam Bankman-Fried speaks out after sentencing: ‘I never thought what I was doing was illegal’
A statement from former FTX CEO Sam Bankman-Fried on March 31 mirrored one he made in court before being sentenced to 25 years in federal prison. Source link
