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Singaporean Authorities Investigate Vast Money Laundering Scheme
Singapore witnessed one of its largest crackdowns on money laundering last month. 400 police officers coordinated raids throughout the city-state, detaining 10 foreigners.
These individuals allegedly were "laundering the proceeds of their overseas organised crime activities, including scams and online gambling".
The seizures were significant, totaling $1.76 billion, with cryptocurrencies accounting for nearly $30 million.
The operation also led to the confiscation of 68 gold ingots, 110 real estate holdings, and 62 cars.
Sketches released provide a look at those under suspicion. UK Committee Suggests: Regulate Crypto Trading Like Gambling
In an unorthodox move, a group of British legislators has proposed that the trading of "unbacked cryptoassets" such as Bitcoin and Ethereum should be regulated akin to gambling, not as a financial service, according to a recent House of Commons Committee report. 
Study Shows Day Trading Resembles Gambling
An old study examining the performance of 18,000 regular gamblers in casino games found that only 13% were profitable over a two-year period. The results were even starker for day traders, where less than 1% consistently generated a positive return over the same period. Crypto Should Be Regulated as Gambling: Key Arguments
The Treasury Committee of the United Kingdom is advocating for the regulation of cryptocurrency trading akin to gambling. A new report from the bipartisan committee of deputies emphasizes that cryptocurrencies don't serve any useful social functions. They require a significant amount of energy to produce and their usage is closely linked to fraud and money laundering. 
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