Tether, TRON, and TRM Labs established the T3 Financial Crime Unit (T3 FCU)—a collaborative initiative aimed at fighting financial crimes within the cryptocurrency sector. This is a pioneering move where private companies united to assist law enforcement agencies.
South Korean tech giant Naver has partnered with blockchain platform Chiliz to launch its first cryptocurrency wallet—Naver Pay Wallet. According to the company, this new non-custodial wallet could potentially provide over 33 million users with access to digital assets.
North Carolina authorities recovered nearly $5 million in cryptocurrency that was stolen in the “Pig Butchering” scam. This fraud technique involves gradually "fattening up" the victim, allowing them to earn small amounts initially, which encourages further investments.
According to the Financial Supervisory Service (FSS), the average annual salary for employees and executives at the South Korean cryptocurrency exchange Upbit now exceeds that of employees at the country’s major banks: $99,500 compared to $86,700. This marks a 124% increase over the past year.
The UK government is set to convince financial firm Revolut, which also offers cryptocurrency services, to conduct its initial public offering (IPO) in London rather than New York. City Minister Tulip Siddiq plans to meet with company representatives this fall to discuss the proposal.
Crypto4Harris, a group of cryptocurrency supporters, along with crypto-friendly Democrats, conducted a virtual meeting today, which had been announced earlier this week, as reported by Reuters.
Blake Benthall asserts that the U.S. government needs to collaborate more closely with cryptocurrency companies to create effective regulations and ensure compliance with the law. He believes that some officials advocate for strict measures due to their misunderstanding of new technologies.
Since the start of 2023, the Australian financial regulator (ASIC) has closed over 7,300 fraudulent investment websites and schemes, including 615 cryptocurrency projects. Fake investments continue to be a major issue, with Australians losing over $1.3 billion to such scams in the past year.
