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Gensler Drops Truth Bomb on Crypto: It’s More Like Gold Than Cash
On October 9, 2024, SEC Chairman Gary Gensler spoke at an event at the New York University School of Law in Manhattan. Once again, he took the opportunity to lay out the familiar crypto concerns that the SEC, under his leadership, has been raising for years.Crypto Giants Collaborate to Combat Financial Crime
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. Blake Benthall: Crypto Companies Must Aid in Regulation
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. 
HectorDAO Initiates Bankruptcy Proceedings Under U.S. Law
HectorDAO has filed for Chapter 15 bankruptcy in the U.S. Interpath Advisory, a firm specializing in insolvency cases, has pinpointed three primary causes for this outcome: the collapse of the Terra ecosystem, a breach in the Multichain protocol, and a subsequent theft from HectorDAO's treasury. Chinese Student Charged with Issuing Fake Cryptocurrency
Chinese law enforcement has initiated its first criminal case related to the launch of cryptocurrency tokens, accusing student Yang Qichao of creating fake digital assets. Although the case resembles a common Rug Pull scam, he was charged under a different count due to legal ambiguities. Kidnapping for Cryptocurrency Ransom: A New Crime Hits
UK prosecutors have charged a group of individuals with the kidnapping of Chinese businessman Dylan Huang. Law enforcement reports reveal that the criminals sought a ransom of $15 million in BTC, while subjecting him to threats, physical assault, and confinement for over 30 hours. 
Tether Steps Up Again to Assist the US
Tether, the issuer of the USDT stablecoin, has again provided assistance to US law enforcement by helping to recover about 1.4 million USDT stolen by fraudsters masquerading as technical support. Tether has announced that all recovered funds will be returned to the victims and that the company will maintain its voluntary cooperation with government authorities. 
San Francisco Initiates Crackdown on Deepfake Nudes
San Francisco's law enforcement has filed a lawsuit aimed at shutting down 16 websites that use artificial intelligence to turn photos of real women into nonconsensual images. Such services have recently gained popularity among both teenagers and adults. Ripple Faces New Legal Challenge
A U.S. court has permitted a new lawsuit against Ripple Labs and its CEO, Brad Garlinghouse, for alleged violations of securities law. The plaintiffs in the case accuse Garlinghouse of making misleading statements during a 2017 interview, which they argue qualifies the XRP token as a security. What Crypto Issues Will the New U.S. Law Address?
An important regulatory bill concerning cryptocurrencies might receive approval this May. The U.S. House of Representatives is scheduled to vote on the Financial Innovation and Technology Act, known as FIT-21, which could significantly impact the global digital industry. Prosecutors Set Their Sights on Do Kwon's Belgrade Apartment
The law enforcement of South Korea is set to confiscate the Belgrade apartment of Terraform Labs' founder, Do Kwon, situated in Serbia. Estimated at $2.2 million, the apartment is in the capital's elite district, populated by high-profile individuals like legislators, police officials, and entrepreneurs. 
LockBit Hack: Everything You Need to Know
LockBit is one of the most deployed ransomware globally. This hacking group has compromised thousands of entities, spanning financial institutions, logistics companies, and healthcare organizations. These victims are now backed by an international law enforcement task force called Operation Cronos.