Singapore has seized 2.7 billion RMB assets from Chen Zhitai's group.

Son of U.S. government contractor arrested by FBI for allegedly stealing $46 million in cryptocurrency

Gate News bot message: According to X platform, the son of a U.S. government contractor, John Daghita, has been arrested by the Federal Bureau of Investigation (FBI) for allegedly stealing $46 million worth of cryptocurrency from the U.S. Marshals Service.

How OTC merchants step by step into the trap of "illegal business operation"

Author: Lawyer Shao Shiwei Profiting from buying and selling virtual currencies through price differences, but being prosecuted for receiving foreign exchange transfer funds—this article is based on a real case handled by Lawyer Shao, involving an OTC merchant accused of illegal business operations and concealing criminal proceeds through off-market USDT transactions. In this case, the involved party has long been engaged in buying and selling USDT to earn price differences. During a normal transaction, he unfortunately received RMB funds transferred by an underground bank upstream, illegally exchanging currency for others. Big data analysis confirmed that this fund was identified as foreign exchange transfer funds. The question then arises: Is simply earning from virtual currency price differences enough to be criminally liable for receiving foreign exchange transfer funds from illegal foreign exchange transactions upstream? More notably, there are differing opinions within the case-handling agency regarding whether to apply the crime of illegal business operations or the crime of concealing and disguising criminal proceeds. Lawyer Shao’s view is that such cases cannot be simply classified; the behavior must be assessed based on the individual's role in a layered manner.

XRP Could Face Securities Classification Under New U.S. Crypto Framework, Says Cardano’s Hoskinson

Charles Hoskinson argues that under the revised CLARITY Act, tokens like XRP would qualify as securities, igniting his feud with the XRP community. He called Ripple CEO Brad Garlinghouse out again, cautioning that having no laws is better than having a bad law. Cardano founder Charles Hoskin

Bank failures, war conflicts: Iran's $7.8 billion cryptocurrency "shadow economy" becomes the focus again

As the US-Israel coalition escalates actions against Iran, the country's "shadow economy" has once again come into focus. Iran is using cheap electricity to mine Bitcoin, stabilizing its currency and bypassing sanctions. Mining hash rate accounts for 2%-5% of the global total and is expected to create a $7.8 billion ecosystem by 2025. The stablecoin USDT is also used to stabilize the rial exchange rate, which has depreciated by over 96%. Additionally, during protests, the public has accelerated their shift to Bitcoin to protect assets.

TRM Labs Reports $35B Lost to Crypto Scams Worldwide in 2025

TRM Labs reports a rise in global crypto fraud, reaching $35 billion in 2025, likely underestimating actual losses. Enhanced training and blockchain tools are essential for law enforcement to combat sophisticated fraud schemes effectively.

FATF: Peer-to-peer transfers of stablecoins pose a major money laundering risk; it is recommended that issuers introduce freezing and blacklisting mechanisms.

The latest FATF report indicates that P2P transfers of stablecoins have become a major source of money laundering risk in the crypto space, especially in unhosted wallet transactions where regulation is difficult. Approximately 84% of illegal crypto transactions involve stablecoins. FATF recommends strengthening regulation of stablecoin issuers and promoting anti-money laundering measures.