Global #illicit activities

A recent ruling by the Shanghai Songjiang People's Court has shed light on China's stance on cryptocurrency ownership.

The American division of TD Bank has come under fire for significant lapses in compliance with the Bank Secrecy Act (BSA), resulting in a staggering financial penalty of $3.1 billion.

In a significant crackdown on organized crime, the Australian Federal Police (AFP) announced on Tuesday that it has seized $6.4 million in cryptocurrency linked to Jay Je Yoon Jung, a 32-year-old resident of New South Wales.

In response to severe electricity shortages, authorities in Dagestan, a republic in Russia, are ramping up efforts to shut down illegal underground crypto mining farms. Local officials blame these operations for significant power theft and frequent outages that have affected residents.

In a bold statement at the recent Token2049 conference in Singapore, Chainalysis CEO Michael Gronager predicted that government prosecutors and tax authorities will increasingly harness artificial intelligence (AI) to combat crime on the blockchain within the next five years.

In a significant enforcement action, German authorities have confiscated $28 million in cash and seized 13 machines from 35 unlicensed cryptocurrency ATM locations across the country.