FinCEN: Virtual asset service providers should report suspicious transactions linked to Hamas as soon as possible
The US Treasury Department's Financial Crimes Enforcement Network (FinCEN) issued a warning on Friday stating that Hamas relies on "fundraising activities involving virtual currencies and fictitious charitable organizations to raise legal tender and virtual currencies." Virtual asset service providers should report suspicious transactions related to Hamas as soon as possible.
Hong Kong's Securities and Futures Commission to Update Virtual Currency Sales Policies and Requirements
The Securities and Futures Commission (SFC) of Hong Kong will be updating its policies on virtual currency sales and requirements due to recent market developments and industry inquiries. The updated guidelines will limit certain virtual currency products to professional investors and require intermediaries to assess their clients' knowledge of investing in virtual assets before handling transactions. The SFC considers virtual assets to be complex products and subject to the same guidelines as similar financial products. The update comes after the JPEX crypto exchange scandal, and the SFC's increased efforts to keep crypto investors informed of risks.
FBI charges 6 people in connection with $30 million money transfer business using cryptocurrencies
According to court documents filed in the Southern District of New York, the Federal Bureau of Investigation (FBI) has charged six individuals with operating an illegal remittance business worth $30 million using cryptocurrency. The documents show that these six individuals, Shaileshkumar Goyani, Brijeshkumar Patel, Hirenkumar Patel, Naineshkumar Patel, Nileshkumar Patel, and Raju Patel, did not have the proper licenses for transferring funds in New York. Details revealed in unsealed FBI documents seeking their arrest show that they conducted illegal business by exchanging Bitcoin or other cryptocurrencies for cash using the dark web between July 2021 and September 2023.
Crypto advocacy groups object to U.S. Senator Warren linking cryptocurrencies to terrorism
A cryptocurrency advocacy organization based in the United States is opposing Senator Elizabeth Warren and other lawmakers who are linking cryptocurrency to terrorism. Earlier, Warren and more than 100 lawmakers signed a letter calling for the suppression of illegal cryptocurrency activities, claiming that these activities are used to fund Hamas and the Palestinian Islamic Jihad organization. Aya Fanusie, the director of anti-money laundering at the Cryptocurrency Innovation Committee, said that Warren's proposed solutions to some of these issues cannot address problems that occur outside the jurisdiction of the US judiciary. The Blockchain Association and the Cryptocurrency Innovation Committee stated that the terrorist organization Hamas has reduced its use of Bitcoin because authorities can more easily track funds.
Atomic Wallet freezes $2 million in 'suspicious deposits' on exchange
Cryptocurrency wallet Atomic Wallet and major cryptocurrency exchanges jointly froze $2 million of "suspicious deposits". Atomic Wallet stated on October 19 that blockchain intelligence companies Chainalysis and Crystal had assisted the wallet company in identifying and containing this threat.
The report stated that the "threat actor" used complex methods to link funds to the Bitcoin blockchain, including bridges and mixers. Most of the funds eventually entered the Tron blockchain and Bitcoin network.
Wintermute partners with stablecoin issuer Mountain Protocol to enhance USDM liquidity
Cryptocurrency market maker Wintermute has established a strategic partnership with stablecoin issuer Mountain Protocol, allowing users to exchange USDM for USDC at any time. According to the statement, this partnership will allow users to exchange USDM for USDC at any time through Wintermute's liquidity supply, while avoiding bank risks associated with USDM reserves.
Zodia Custody expands institutional digital asset services to Australia
Zodia Custody, a cryptocurrency custody institution under Standard Chartered, has announced the launch of a digital asset custody platform for institutional clients in Australia. The platform will serve as a gateway for institutions to connect with digital asset exchanges and enable their assets to be securely stored in bank-grade cold wallet storage.
Crypto Strategist Predicts Downside for Altcoin with $1.9 Billion Market Cap, Updates Outlook on Solana and Woo Network
According to a popular crypto strategist, the native asset of the Cosmos blockchain ecosystem, ATOM, appears to be in a bearish trend and may drop further to $5.50 before experiencing a relief rally. The analyst also notes that Solana is currently stuck in a wide trading range between $16 and $27, while Woo Network's native asset, WOO, remains in a sideways trend with support at around $0.147. The strategist suggests that WOO may be a decent longer-term investment, but does not see it as a buy at the current time.
Swiss bank Dukascopy launches automated cryptocurrency lending product
Swiss online bank, Dukascopy Bank, has launched an automated cryptocurrency lending product. Users need to open a multi-currency account (MCA) with Dukascopy Bank. When users transfer supported cryptocurrencies into their account, they will receive 50% of the value in US dollars in their MCA account, while the other half will be transferred to a trading sub-account. At the same time, users' trading accounts will synchronously open long positions for the transferred cryptocurrency quantity at the current price to retain users' cryptocurrency investment positions.
L2 TVL reached US$10.37 billion, Mantle increased by 41.27% on the 7th
According to L2BEAT data on October 15th, the total value locked (TVL) in Ethereum Layer2 is currently reported at $10.37 billion, with a 7-day decrease of 3.23%. The top five locked values are:
Arbitrum One ($5.69 billion, 7-day decrease of 2.54%);
OP Mainnet ($2.56 billion, 7-day decrease of 5.59%);
Base ($543 million, 7-day decrease of 2.42%);
zkSync Era ($409 million, 7-day decrease of 5.68%);
dYdX ($324 million, 7-day decrease of 5.70%).
In addition, Mantle Network is ranked seventh in TVL, with a TVL of $124 million, and a 7-day increase of 41.27%.
