Japanese authorities have arrested a gang of 18 alleged scammers by analyzing Monero transactions—marking the first time in crypto history that Monero has been used to track criminals. Authorities reported that they examined about 900 Monero (XMR) transactions conducted by the group, totaling approximately 100 million yen ($670,000). The arrests represent a significant breakthrough for...
Regulation
Ireland Prepares ‘Urgent’ Crypto Regulations Ahead of EU AML Standards
Ireland is gearing up to draft urgent cryptocurrency regulations ahead of the European Union’s new Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) standards, which are set to take effect on Dec. 30. Finance Minister Jack Chambers informed the cabinet of the need to update crypto regulations to align with these upcoming EU...
Denmark Considers Taxing Unrealized Crypto Gains by 2026
Denmark’s Tax Law Council has recommended introducing a bill that could potentially tax unrealized gains and losses on crypto assets held by Danish investors as early as 2026. In its 93-page report on crypto asset taxes, the council suggested that all crypto assets be taxed according to a consistent set of rules, considering three potential...
Crypto Faces New Regulatory Landscape as MiCA Comes into Effect in December
Global stablecoin regulation is set to take a significant step forward with the European Union’s upcoming Markets in Crypto-Assets Regulation (MiCA), according to Binance, the world’s largest cryptocurrency exchange. The MiCA bill, which represents the first comprehensive regulatory framework for the crypto industry, could serve as a model for lawmakers worldwide seeking to legitimize the...
SEC, FBI, and DOJ Target Crypto Firms in Coordinated Fraud Investigation
In a coordinated effort, the United States Securities and Exchange Commission (SEC), the Justice Department, and the Federal Bureau of Investigation (FBI) have targeted a complex network of overlapping crypto firms and individuals accused of fraudulent activities. On Oct. 9, the SEC filed civil suits in the District Court of Massachusetts against three market makers...
Taiwan’s New Anti-Money Laundering Laws Put Crypto Firms on Notice
The Financial Supervisory Commission (FSC) of Taiwan has introduced new Anti-Money Laundering (AML) regulations that will require full compliance from all local virtual asset service providers (VASPs) by 2025. The updated AML measures, released on Oct. 2, aim to crack down on illicit activities in the crypto sector and align Taiwan’s regulatory framework with global...
Swedish Authorities Classify Certain Crypto Exchanges as Key Enablers of Organized Crime
Swedish authorities have intensified their scrutiny of cryptocurrency exchanges, labeling some as “professional money launderers (PML)” due to their involvement in facilitating organized crime. According to a recent report by the Swedish Police Authority and the Financial Intelligence Unit (FIU), unlicensed and illegal cryptocurrency exchanges are being used systematically to launder money across multiple criminal...
“Dazed and Confused” Hearing to Focus on SEC’s Alleged Politicization of Crypto Rules
On Sept. 18, the United States House Subcommittee on Digital Assets, Financial Technology, and Inclusion will host a hearing titled “Dazed and Confused: Breaking Down the SEC’s Politicized Approach to Digital Assets.” The hearing will feature testimony from two former Securities and Exchange Commission (SEC) officials and industry leaders, aiming to scrutinize the agency’s handling...
India to Launch Plug-and-Play System for Simplified Cross-Border Payments
India is advancing its efforts to simplify cross-border payments by developing a plug-and-play system. The initiative aims to create a flexible and scalable framework that can be easily adapted by different countries, thereby making international money transfers as straightforward as domestic transactions. This move is part of a broader strategy centered on Digital Public Infrastructure...
UAE Court Recognizes Crypto in Employment Contracts, Setting New Precedent
In a landmark decision, the Dubai Court of First Instance has officially recognized cryptocurrency as a valid form of salary payment under employment contracts. This ruling marks a significant shift in the United Arab Emirates’ legal approach to digital currencies, reflecting the growing acceptance of crypto within the country’s economic and legal framework. The case,...