NFT News by Thebittimes.Com

Stablecoin issuer startup Tether froze 41 wallets earlier today, with on-chain data showing several of the crypto wallets used the services of Tornado Cash.  Tornado Cash is on Office of Foreign Assets Control’s (OFAC) Specially Designated Nationals (SDN) list. Tether made the move to halt the operations of the wallets with the help of data collected from blockchain intelligence company Chainargos. Ether crypto transactions data tracker Etherscan flagged one of the addresses, stating it was reportedly involved in the infamous Ronin Bridge hack. Collectively, the frozen virtual wallets moved most funds in Staked USDT (STUSDT). Nonetheless, it is not the first time Tether froze wallets linked to warfare, as it ceased the operations of 32 crypto money holders related to the wars in Ukraine and Israel. As reported by CNBC, the wallets held a collective sum of $873,118. In October, Tether stated it had collaborated with 31 agencies in 19 different global jurisdictions, facilitati...

Author: Bitrace WuBlockchain authorized translation and reprint source: https://mp.weixin.qq.com/s/kTWd68GCccOfAu67ERUxGw The Anti-Telecommunication Network Fraud Law of the People’s Republic of China has been adopted by the Standing Committee of the National People’s Congress and will come into effect on December 1, 2022. Article 25 of the Law clearly states that “no unit or individual shall help others launder money through virtual currency transactions and other means.” Combined with the recent public disclosure of a number of precedents in cryptocurrency-related cases, the criminal risk for practitioners in the crypto has risen precipitously. The trend of dirty money Since the launch of China’s “Clearning Card Action” in October 2020, it has become a common knowledge in the industry that black money laundering has been used by cryptocurrency transactions in large quantities, and investors are mostly aware of the fact that receiving black funds may lead to frozen cards or even suspe...