The discrepancies between the government’s claims and the blockchain data highlight the tense dynamic between digital finance and state authorities.

Binance returns to India after registering with the FIU-IND, marking its “19th global regulatory milestone.”

Crypto VC giant a16z claims the AI legislation will “burden startups because of its arbitrary and shifting thresholds.”

The chief of Iran’s state-run electricity company said some had exploited subsidized electricity to run crypto mining operations, straining the power grid.

New rules from the FTC mean crypto influencers will face stiff fines for fake followers and likes, while celebrity testimonials are also in the firing line.

Speaking at the Crypto4Harris event, the Senate majority leader said he will make it his goal to introduce pro-crypto legislation by the end of 2024 and that a Harris administration might adopt friendly policies.

According to Bloomberg, Singapore is preparing to charge two former Chinese bankers on Thursday in connection with the country's largest money-laundering case. The individuals, who were relationship managers at two foreign banks in Singapore, are accused of serving criminals involved in a S$3 billion ($2.3 billion) laundering scheme, as stated by the Singapore Police Force in an emailed statement on Wednesday. The names of the banks were not disclosed.The case has caused significant concern in the Asian financial hub, following the authorities' seizure of cash, properties, cryptocurrencies, and other assets totaling S$3 billion last year. Ten individuals of Chinese origin were imprisoned for laundering illicit funds from illegal overseas gambling operations and other offenses, while additional suspects remain at large.David Chew, director of the police force’s commercial affairs department, emphasized the seriousness with which Singapore views the laundering of criminal proceeds through its financial system. “Those who help clients circumvent their financial institutions’ due diligence processes or who help clients forge documents to conceal the true nature of their assets, must be dealt with robustly under our laws,” Chew stated.The first banker is a 26-year-old male, and the second is a 35-year-old male. Additionally, a Singaporean driver is also set to be charged in connection with the case.

According to BlockBeats, on August 14, the U.S. Securities and Exchange Commission (SEC) announced that it has obtained a preliminary injunction and asset freeze to investigate Drive Planning LLC and its founder and CEO, Russell Todd Burkhalter. The SEC alleges that from 2020 to June 2024, Drive Planning and Burkhalter raised over $300 million from more than 2,000 investors by promising high returns, such as '10% interest every three months,' for supposed real estate investments. However, this was a typical Ponzi scheme, where funds from new investors were used to pay returns to existing investors. Additionally, the SEC accuses Burkhalter of misappropriating millions of investor funds to purchase a $3.1 million yacht, $4.6 million in private jet and luxury car services, and $2 million for a luxury apartment to support his lavish lifestyle.Nekia Hackworth Jones, Director of the SEC's Atlanta Regional Office, stated that Drive Planning and Burkhalter gained the trust of ordinary investors through false promises, executing a classic Ponzi scheme. She urged investors to be wary of sellers who excessively promote high returns. Besides obtaining emergency relief, the SEC is also seeking a permanent injunction against the defendants, the return of ill-gotten gains, civil penalties, and a ban on Burkhalter from serving as a corporate officer. The case is currently under further investigation.

Brazil’s CVM issued a warning to the crypto exchange in 2020 that it was offering residents derivatives products without authorization.

Cointelegraph’s Sam Bourgi discussed Canada’s evolving regulatory landscape with Kraken and Coinbase at the Blockchain Futurist Conference, highlighting areas where the country still lags.