Six Indian nationals, including Raju Patel, Brijeshkumar Patel, Hirenkumar Patel, Naineshkumar Patel, Nileshkumar Patel, and Shaileshkumar Goyani, have been charged with operating an unlicensed money-transmitting business converting cryptocurrency to cash for clients seeking anonymity. Five of the six suspects were arrested on October 17th. The illegal operation was uncovered after the FBI arrested an individual who had been mailing packages of cash on behalf of the co-conspirator from a post office in Westchester County, New York. The FBI learned that the bundles of money were delivered by the six suspects on behalf of the unnamed co-conspirator through 80 controlled cash pickups that a confidential source agreed to participate in. The business violates state and federal laws by failing to register with FinCEN, according to FBI Special Agent Lawrence Lonergan.
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FBI Busts Unlicensed Crypto-to-Fiat Transmitting Operation in New York State
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Hong Kong virtual asset spot ETF debuts today
Today, six virtual asset spot ETFs were launched online in Hong Kong. The six virtual asset spot ETFs issued this time are from Huaxia (Hong Kong), Boshi International, and Jiashi International. The three institutions have certain differences in product fees, trading, issuance, and virtual asset platforms. -
Australian Stock Exchange Expects to Approve Spot Bitcoin ETF by the End of 2024
According to a source who wishes to remain anonymous, Australia will follow in the footsteps of the United States and Hong Kong by launching a Bitcoin ETF. ASX Ltd., which handles about 80% of the country's stock trading, is expected to approve the first batch of spot Bitcoin ETFs on the main board by the end of 2024. A spokesperson for BetaShares, headquartered in Sydney, said in an interview that they are working to launch a product on the Australian Securities Exchange. Another local company, DigitalX Ltd., stated in its half-year results in February that it has applied. Justin Arzadon, the head of BetaShares' digital assets, said that the inflow of funds from the United States proves that digital assets will continue to exist. Arzadon added that the company has reserved ASX stock codes for spot Bitcoin and spot Ethereum ETFs. -
Hong Kong Securities Regulatory Commission: China Ecological Tourism Group's acquisition of a blockchain company was improper and disciplinary action has been taken
The Securities and Futures Commission (SFC) of Hong Kong has announced that it has taken disciplinary action against China Ecotourism Group Limited (China Ecotourism) and its seven current and former directors in collaboration with the Hong Kong Stock Exchange (HKEX). The investigation mainly focused on improper conduct, including granting 13 loans totaling HKD363 million and RMB91 million to nine borrowers, and acquiring a 37.5% stake in a blockchain technology company for HKD35 million. -
If a Hong Kong spot virtual asset ETF is sold at a premium, it can be converted into Hong Kong dollars on the Hong Kong Stock Exchange
Currently only a few Hong Kong brokers with virtual asset retail licenses can subscribe to the Hong Kong Bitcoin ETF through the new share subscription method (PD/distributor), and after the ETF officially enters the Hong Kong Stock Exchange, all hundreds of Hong Kong brokers and banks can purchase it. The approved virtual asset ETF adopts the performance of the ChiNext CF Bitcoin Index (Asia-Pacific closing price), so the profit and loss risks of cash subscription for Bitcoin ETF are basically the same as those of directly buying Bitcoin. As the exchange ratio between Bitcoin and Bitcoin ETF is fixed, if physical subscription is used in the IOP stage, that is, Bitcoin is used to subscribe to Bitcoin ETF, the relevant ETF can be exchanged for Hong Kong dollars in the exchange if it is sold at a premium after listing, and then buy back Bitcoin at the same time to earn the price difference between on-exchange and off-exchange. (Finance News Agency) -
SEC sues Bitcoin mining company Geosyn, accusing its founder of $5.6 million fraud
On April 26th, the US SEC filed a lawsuit against bitcoin mining company Geosyn Mining and its co-founders, accusing them of falsely reporting the number of cryptocurrency mining equipment in operation and using customer funds for personal expenses, resulting in a $5.6 million investment fraud. -
Hong Kong Stock Exchange to Start Trading Harvest Fund’s Bitcoin and Ethereum Spot ETFs on April 30
The Hong Kong Stock Exchange will begin trading Harvest's Bitcoin and Ethereum spot ETFs on April 30. -
UK law enforcement agencies can now confiscate crime-related crypto assets without conviction
The UK Home Office announced in a press release on Friday that new powers to seize cryptocurrencies used in crimes have come into effect. The Home Office stated that due to these new regulations, police in the country will no longer need to make an arrest before seizing cryptocurrency holdings, making it easier to seize assets known to have been obtained through criminal means, even if seasoned criminals are able to protect their anonymity or are located overseas. -
The main culprit of China's 43 billion yuan illegal money laundering case was arrested in the UK, involved in the UK's largest Bitcoin money laundering case
Local time in the UK, Qian Zhimin appeared in Westminster Magistrates' Court for the first time under the identity of Yadi Zhang. She was accused of obtaining, using or possessing cryptocurrency as criminal property from October 1, 2017 to this Tuesday in London and other parts of the UK. Currently, Qian Zhimin is charged with two counts of illegally holding cryptocurrency. Qian Zhimin is the main suspect in the Blue Sky Gerui illegal public deposit-taking case investigated by the Chinese police in 2017, involving a fund of 43 billion yuan and 126,000 Chinese investors. After the case was exposed, Qian Zhimin fled abroad with a fake passport and held a large amount of bitcoin overseas. According to the above Financial Times report, Qian Zhimin denied the charges of the Royal Prosecution Service in the UK, stating that she would not plead guilty or apply for bail. -
Market News: South Africa authorizes 75 companies as cryptocurrency service providers
According to Jinshi news, South Africa has authorized 75 companies as cryptocurrency service providers. -
Toncoin market value exceeds US$17 billion
With Toncoin (TON) briefly breaking through $5 to reach a new high, its market value also exceeded $17 billion. According to Coingecko data at the time of writing this article, it reached $17,185,118,389, setting a new historical high. Currently, it has surpassed Shib Inu (SHIB, with a current market value of approximately $16,041,793,000) and has risen to the 12th place in the cryptocurrency market value rankings.
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