UpGate

Category: Uncategorized

  • Thailand’s Central Bank Uses Data Analytics to Screen Stablecoin Transactions for Illicit Activity

    Thailand’s Central Bank Uses Data Analytics to Screen Stablecoin Transactions for Illicit Activity

    The Bank of Thailand is employing data analytics to scrutinize stablecoin transactions, particularly those involving Tether’s USDT, as part of a broader initiative to combat the ‘grey economy’ and illicit financial flows. This move signals a proactive approach by the central bank to enhance financial surveillance in the digital asset space.

    Why This Matters

    The materials describe a narrow update: The Bank of Thailand is employing data analytics to monitor stablecoin transactions, specifically USDT, for signs of money laundering or attempts to bypass disclosure rules. The exact nature and volume of flagged stablecoin transactions.

    Broader Context

    Source materials place the factual news in this context: The Bank of Thailand Governor Vitai Ratanakorn said the central bank has begun screening abnormally large stablecoin transactions, particularly in Tether’s USDT, and has already flagged some that appear designed to sidestep disclosure requirements or move funds outside normal banking channels, according to Thai outlet Thansettakij.

    Stablecoin Screening Initiative

    The central bank is actively screening stablecoin transactions for signs of money laundering or attempts to circumvent disclosure requirements and move funds outside conventional banking channels. According to Thai outlet Thansettakij, the Bank of Thailand has already identified some transactions exhibiting such characteristics. As the Securities and Exchange Commission (SEC) in Thailand holds regulatory authority over digital assets, the Bank of Thailand is coordinating its findings with the SEC, which is empowered to take regulatory action.

    USDT, the largest stablecoin by market capitalization and a widely used trading pair on cryptocurrency exchanges, according to CoinGecko data, is a key focus of this screening. This initiative is part of a wider campaign against what Thai officials term the ‘grey economy,’ a long-term effort requiring multiple parallel measures rather than a quick fix, as stated by the Bank of Thailand Governor.

    Broader ‘Grey Economy’ Crackdown

    These efforts to curb illicit financial activity extend beyond stablecoins. Since April, Thai banks have been required to verify the purpose of cash withdrawals exceeding 5 million baht (approximately $150,000). This measure has reportedly coincided with a reduction of about 35% in large cash withdrawals. Furthermore, from the fourth quarter, individuals depositing 5 million baht or more in cash may be required to declare the origin of these funds.

    Regulators are also intensifying controls on high-value banknote exchanges and gold trading. Officials observed buyers ordering gold through an app and collecting it from shops shortly after, prompting increased scrutiny. Suspicious activities in gold trading are now reported to Thailand’s Anti-Money Laundering Office. Consequently, monthly gold withdrawals have seen a significant decrease, falling from approximately 4,000 kilograms to around 700 kilograms.

    In parallel, banks have closed thousands of ‘mule’ accounts associated with online gambling operations. Thailand has become a notable hub for crypto-enabled crime, with law enforcement agencies actively pursuing investigations. Recent operations include Thai police tracing a romance-scam laundering network where a single wallet moved over $122.5 million in 10 months through cross-chain swaps, as part of Interpol’s Operation First Light. Investigators have also expanded a probe into a $300 million Chinese laundering network and seized $8.6 million worth of illegal mining rigs used to power scam compounds.

    Balancing Regulation and Innovation

    Despite the focus on combating illicit finance, Thailand is also pursuing the development of legitimate digital asset activities. The SEC has outlined a three-year plan to promote tokenization and crypto exchange-traded funds (ETFs). Concurrently, the central bank is working on developing a baht-backed stablecoin as part of a broader financial infrastructure overhaul.

    While these measures represent a significant step in regulating digital assets and combating financial crime, uncertainties remain regarding the exact nature and volume of flagged stablecoin transactions, the specific outcomes of the coordination between the Bank of Thailand and the SEC, and the total amount of laundered funds successfully intercepted. The Bank of Thailand’s approach highlights a dual strategy: tightening controls on illicit financial flows while fostering innovation within the digital asset ecosystem.

  • Cardano Faces Geopolitical Headwinds Amidst Strong Developer Activity and Institutional Staking

    Cardano Faces Geopolitical Headwinds Amidst Strong Developer Activity and Institutional Staking

    Cardano’s price experienced volatility on July 13, dipping to an intraday low of $0.1572, influenced by broader market conditions and geopolitical events, including coordinated strikes by Iran across five regional countries. Despite this short-term price pressure, the Cardano network continues to demonstrate robust underlying strength through consistent developer activity and significant institutional commitment, exemplified by Kraken’s substantial investment in Cardano stake pools.

    On July 13, Cardano (ADA) was trading near $0.1616. The cryptocurrency saw a 3.60% decrease over the preceding 24 hours and a 13.10% decline over the past seven days. The intraday low of $0.1572 reflected the market’s reaction to geopolitical tensions. The 7-day trading range for ADA has been between approximately $0.1623 and $0.1922, placing the current price near the lower end of this band.

    Network Health and Institutional Commitment

    Simultaneously, Kraken registered 12 Cardano stake pools in June, with approximately $1 billion in ADA delegated to these pools. This infrastructure commitment suggests a deliberate operational strategy by Kraken. In parallel, Cardano’s developer activity remains strong, with 233 GitHub commits recorded over the past seven days. This places Cardano fifth among all Layer-1 networks in development activity, accounting for roughly 6.2% of the total development activity across approximately 3,700 commits in the same period.

    This combination of institutional staking posture and developer momentum is a quiet accumulation signal that tends to be ignored amid geopolitical noise, according to the source. However, broader altcoin flows remain tilted toward Bitcoin and Ethereum, keeping ADA rangebound despite the underlying activity.

    Technical Analysis and Market Scenarios

    Technically, the 20-day Exponential Moving Average (EMA) near $0.1667 is identified as a critical level. The Relative Strength Index (RSI) stands at 43.04, with a bullish divergence structure technically active from June lows, although momentum has decreased from a peak of 60. Higher moving averages, including the 50-day EMA at $0.1811 and the 100-day EMA at $0.2111, represent significant upside resistance. The former resistance band between $0.20 and $0.22 is now considered supply rather than support.

    Market analysis suggests three potential near-term scenarios for ADA’s price. The bull case posits that ADA holds the 20-day EMA zone, geopolitical fears subside, and the price moves towards $0.19 over three to five sessions. The base case anticipates consolidation between $0.16 and $0.1811, with macro uncertainty suppressing risk appetite, leading to neither a breakdown nor a breakout. The bear case suggests that a daily close below $0.155 could lead to a retest of the $0.14 region, potentially invalidating the existing bullish divergence structure.

    Broader market conditions are noted as the dominant variable influencing ADA’s trajectory, with the asset not cleanly diverging from the macro direction at this stage of the cycle. While Kraken’s staking news is constructive, institutional staking yield generation is not considered a direct price catalyst. The probability distribution of ADA’s price movement is seen as skewing toward the base case of consolidation.

    Broader Market Dynamics and Alternatives

    Cardano’s range compression highlights a common challenge for established Layer-1 networks: their large market capitalization requires substantial capital inflows to drive price movement, while narrative momentum may stall below key moving averages without immediate catalysts for institutional re-rating. This dynamic is reportedly pushing some traders toward earlier-stage infrastructure projects.

    In related developments, LiquidChain (LIQUID), a Layer-3 infrastructure project, is positioning itself as a cross-chain liquidity layer. Its core thesis addresses the perceived siloed nature of liquidity pools across Bitcoin, Ethereum, and Solana, aiming for unified execution. The project’s Unified Liquidity Layer and Deploy-Once Architecture are highlighted as key differentiators. LiquidChain’s presale is currently priced at $0.01479, with $903,121.14 raised to date. However, it is important to note that early-stage presales carry inherent risks of project non-delivery and illiquidity, and potential investors are advised to research the presale terms thoroughly.

    Uncertainty remains regarding the immediate direction of ADA’s price, with geopolitical events and broader market sentiment playing significant roles. The long-term health of the network, however, appears supported by consistent developer contributions and institutional backing.

    Why This Matters

    The materials describe a narrow update: Cardano’s price fell to $0. Whether the current price move for ADA is a controlled pullback or the start of another leg lower.

    Broader Context

    Source materials place the factual news in this context: Cardano (ADA) is trading near $0.1616 on July 13, retesting the 20-day EMA as an overnight geopolitical shock, Iran launching coordinated strikes across five regional countries, rattled crypto markets broadly, and pushed ADA to an intraday low of $0.1572 before a partial recovery.

  • Binance Futures Soar 80% in June Amid Spot Market Slump

    Binance Futures Soar 80% in June Amid Spot Market Slump

    Binance reportedly experienced a substantial surge in futures trading volume last month, with figures indicating an 80% jump from May’s activity and reaching a yearly high. This increase occurred as cryptocurrency spot markets languished at their weakest pace in two years.

    According to commentary from CryptoQuant analysts, the surge in futures trading comes at a time when Bitcoin’s price has remained relatively stable, and a significant portion of the market holds a bearish outlook. The sharp monthly increase in futures volume, contrasted with a stagnant spot market, suggests a deliberate shift in trader positioning.

    The June futures figures propelled Binance ahead of its closest derivatives competitors. While OKX and Bybit also reported increases in futures volume from May to June, neither matched Binance’s growth or overall scale. Data indicates that Binance’s futures volume significantly surpassed those of OKX and Bybit.

    The last time these exchanges approached similar volume levels was in early 2026. June marked a return to, and in Binance’s case, an surpassing of that benchmark. However, the centralized exchange (CEX) futures market remained under pressure throughout the second quarter.

    Binance’s June futures volume increase occurred against a deteriorating quarterly backdrop. Total CEX futures volume across the market declined in Q2 2026 compared to Q1, continuing a downward trend. While the pace of decline slowed relative to earlier quarters, the downward direction persisted.

    Spot markets faced even deeper challenges. CEX spot volume dropped to a two-year low in Q2, with Binance remaining the largest spot venue but experiencing a slight decrease in market share. Binance, however, maintained a steady share of the futures market for the quarter.

    The widening gap between futures and spot markets underscores a structural shift in trading behavior. Derivatives-driven price action has characterized much of the 2026 market, with leverage washouts, basis trades, and hedging activity remaining robust while directional spot buying stalls. The June Binance data aligns with and amplifies this pattern.

    It remains unclear whether the futures surge reflects genuine directional conviction or primarily hedging and arbitrage flows—strategies that generate volume without necessarily indicating bullish or bearish bets. This distinction is crucial for interpreting the implications of the volume spike.

    Binance’s futures volume surge occurred just before Europe’s Markets in Crypto-Assets (MiCA) regulatory framework entered a new enforcement phase on July 1. Binance withdrew its application for a Greek license in late June, raising questions about European market access and potential impacts on derivatives volumes.

    Early data from July suggests the regulatory transition has not materially disrupted Binance’s futures activity. Binance recorded substantial futures volume in the first 10 days of July, indicating continued trading momentum. However, the limited data period means future regulatory actions could still affect volumes.

    The MiCA transition is significant as Europe is considered an important market for derivatives volumes on major centralized exchanges. Market patterns in July will clarify the extent to which June’s volume reflected front-running of regulatory deadlines versus durable shifts in demand.

    In summary, Binance’s June volume increase is a notable data point signaling a concentration of trading activity in derivatives on dominant venues amidst weaker spot volumes. Whether this concentration persists into the third quarter and how MiCA affects European-sourced volume will become clearer with forthcoming data.

  • Three Years On: Ripple’s XRP Strategy and Market Integration Post-Ruling

    Three Years On: Ripple’s XRP Strategy and Market Integration Post-Ruling

    Three years after a pivotal court ruling distinguished between Ripple’s programmatic sales of XRP on exchanges and its sales to institutional investors, the cryptocurrency and its issuer continue to navigate the implications of this regulatory clarity. The July 13, 2023, decision by Judge Analisa Torres, which stated that programmatic sales did not constitute securities transactions while institutional sales did, has shaped Ripple’s business expansion and XRP’s market integration.

    Market Reaction and XRP’s Resurgence
    The ruling immediately triggered a significant market reaction. XRP’s price surged over 70% in a single day following the decision, leading major U.S. exchanges such as Coinbase, Kraken, and Gemini to relist the token. This period also saw XRP’s price rally, reaching above $3 in early 2025 and eventually tapping a new all-time high in July of that year. Although the token experienced a pullback amid a broader market downturn, it remained above $1 on the ruling’s third anniversary.

    Ripple’s Strategic Expansion
    In the wake of the ruling, Ripple has pursued a strategy of significant business expansion. The company launched its U.S. dollar-backed stablecoin, RLUSD, in December 2024. Further strengthening its position, Ripple acquired Standard Custody & Trust Company, with the deal closing in June 2024. In April 2025, Ripple purchased Hidden Road for $1.25 billion, a move that expanded the company’s services into institutional prime brokerage, clearing, and financing, with RLUSD and the XRP Ledger integrated into Hidden Road’s post-trade infrastructure.

    Institutional Adoption and ETF Performance
    The regulatory clarity provided by the 2023 decision also paved the way for XRP’s entry into the institutional investment product market. Spot XRP Exchange-Traded Funds (ETFs) began launching in late 2025. These funds have seen substantial institutional investment flows since their inception. However, recent performance indicates a shift, with XRP ETFs recording an outflow of $2.50 million in July of the current year, following a nine-week streak of positive inflows. This recent outflow occurred after the funds had dominated crypto ETF flows.

    The ruling itself distinguished between XRP sold to institutional investors, which the court found violated securities laws, and tokens sold on public exchanges, which it determined did not constitute securities transactions. This distinction has been crucial in shaping the subsequent market dynamics and Ripple’s operational strategy. The decision is considered a significant legal moment in the cryptocurrency industry, providing a degree of regulatory clarity that has influenced market behavior and institutional adoption.

    Why This Matters

    The materials describe a narrow update: A court ruling on July 13, 2023, stated that Ripple’s programmatic sales of XRP on exchanges were not securities transactions, while sales to institutional investors were. The exact date of the ruling’s third anniversary is not specified, but it is implied to be around the article’s publication date.

    Broader Context

    Source materials place the factual news in this context: The article discusses the impact of a specific court ruling on Ripple and XRP three years after it occurred.

  • Trump: US to Control Hormuz, Crypto Subject to His Will

    Trump: US to Control Hormuz, Crypto Subject to His Will

    President Trump’s declaration that the United States would “probably” take control of the Strait of Hormuz, and should be compensated for doing so, has sent ripples through cryptocurrency and broader markets, akin to a geopolitical shockwave. Bitcoin, already trading near $64,000, faced an additional layer of uncertainty in an already volatile environment. The full impact on the crypto market is still unfolding.

    Trump’s remarks, made on Monday, suggest a potential shift in U.S. policy toward direct management of one of the world’s most critical oil transit points. Approximately 20% of global oil supply passes through the Strait of Hormuz daily. Unsurprisingly, risk assets were the first to react, with cryptocurrency traders pulling back alongside sellers of technology stocks.

    Trump: Countries Will Pay the US “A Lot of Money” for Guarding the Strait of Hormuz

    “We’re going to keep the Strait and we’ll probably run it,” Trump stated. “We’ll become the Guardian of the Strait. Maybe you’ll call it the Guardian Angel of the Strait. And we should be reimbursed for…”

    Concurrently, the Senate Agriculture Committee advanced a cryptocurrency market structure bill along party lines. This marked another regulatory development, though the split vote underscored ongoing disagreements in Washington. The relationship between politics and cryptocurrency has historically been complex.

    Both of these events are contributing to a prevailing “risk-off” sentiment in the market. Trump’s influence on crypto policy has demonstrably moved markets in the past, and his comments regarding the Strait of Hormuz have amplified these concerns. For the moment, traders appear more focused on capital preservation than on pursuing speculative gains.

    Bitcoin’s price outlook has turned cautious following its slip below $64,000. The weekly low stands near $61,700, making the $61,500 to $62,000 range a critical support level. A failure to hold this zone could see Bitcoin fall into the upper $50,000s, a scenario that seemed improbable just two weeks ago.

    However, the recent selling pressure is not solely confined to the cryptocurrency market. Capital has also flowed out of other risk assets, indicating a broader market trend. While this offers some solace, it also suggests that a significant macro catalyst may be required to restore market confidence if fear has taken hold so broadly.

    The bullish outlook for Bitcoin remains straightforward. Should tensions surrounding the Strait of Hormuz de-escalate and momentum in crypto legislation regain traction, Bitcoin could retest the $64,000 to $65,000 area. Such a move could catch short-sellers off guard. Markets often have a tendency to make the majority appear astute, only to reverse course and prove them wrong.

    The base case scenario is less dramatic. Bitcoin may continue to trade within a range of $62,000 to $64,000 as traders await clearer market signals. This type of price action can test patience more than conviction, and sideways markets can often feel more protracted than they actually are.

    The bearish case remains valid if Bitcoin closes below $61,500 on significant trading volume. Any fresh escalation of tensions around the Strait of Hormuz or disruptions to oil supplies could intensify risk aversion. Past oil shocks have historically placed sustained pressure on Bitcoin for longer than anticipated.

    With Bitcoin struggling below $64,000 and macro risks dominating sentiment, achieving significant upside for spot Bitcoin at its current market capitalization requires a substantial and rapid catalyst. Traders seeking exposure to the Bitcoin ecosystem at an earlier stage of the risk curve are increasingly turning their attention to infrastructure projects.

    Bitcoin Hyper ($HYPER) is positioning itself at this intersection, aiming to be the first Bitcoin Layer 2 solution with Solana Virtual Machine (SVM) integration. Hyper’s smart contract execution speed rivals that of Solana itself, while benefiting from Bitcoin’s robust security layer.

    The project’s presale has raised $33 million to date, with tokens currently priced at $0.013683 and staking incentives available. Key features include a Decentralized Canonical Bridge for Bitcoin transfers and sub-second transaction finality, directly addressing Bitcoin’s core limitations in speed, fees, and programmability.

    For traders looking to gain exposure to the Bitcoin ecosystem without the complexities of spot Bitcoin at a $1.4 trillion market cap, the risk-reward proposition is fundamentally different. Investors are encouraged to research Bitcoin Hyper before the presale concludes.

  • Crypto Market Sees Capital Rotation Amid Regulatory Anticipation and Ethereum’s AI Narrative

    Crypto Market Sees Capital Rotation Amid Regulatory Anticipation and Ethereum’s AI Narrative

    The cryptocurrency market is currently characterized by a notable rotation of capital away from stablecoins, with over $10 billion reportedly withdrawn since May. This shift is accompanied by a growing interest in memecoins, as investors reportedly chase higher returns. Simultaneously, the market is closely watching regulatory developments, particularly the anticipated unveiling of an updated version of the CLARITY Act next week, which could significantly shape the industry’s future.

    Bitcoin and Ethereum, the two largest cryptocurrencies by market capitalization, have maintained relative price stability despite these market dynamics. Bitcoin experienced a temporary dip below $63,000 over the weekend, attributed to geopolitical tensions, which triggered over $14 million in long liquidations. However, buyer interest emerged, and by Sunday, Bitcoin had settled back into the $63,000 to $64,000 range. Spot Bitcoin ETFs have also recorded net inflows after nine consecutive weeks of withdrawals, signaling renewed institutional confidence.

    Ethereum has been trading in a tight range around $1,800. Despite this price consolidation, institutional interest remains robust. Analysts like Tom Lee, through his firm Bitmine, which holds 5.74 million ETH (approximately 4.8% of the total supply), continue to highlight Ethereum’s potential as the settlement layer for the burgeoning AI economy. This narrative is gaining traction, with Ethereum whales reportedly purchasing an additional $20.6 million worth of ETH, even following several days of exchange outflows.

    The CLARITY Act is a focal point for the industry, with lawmakers expected to present an updated version next week and the bill potentially reaching Congress as early as July 17. Supporters believe the legislation will provide much-needed definition for digital assets, distinguishing between securities and commodities, which could remove significant obstacles for the crypto sector. The market appears to be largely focused on this regulatory development, with less concern shown regarding other proposals like BIP 110, which aims to limit arbitrary data in Bitcoin transactions.

    Further bolstering Ethereum’s case among institutions, particularly those focused on sustainability, a Cambridge study indicated that the network’s shift to Proof of Stake has reduced its electricity consumption by over 99.9%. Additionally, the Ethereum Foundation reported that one of its AI agents successfully detected a validator crashing bug, showcasing advancements in network security and development.

    However, uncertainties remain regarding the precise impact of the CLARITY Act if passed. Analysts like Fidelity’s Jurrien Timmer suggest the possibility of one more market shakeout before a sustained rally, with $60,000 acting as a potential bottom for Bitcoin. Speculation also persists around potential further Bitcoin purchases by figures like Michael Saylor. The sustainability of the rotation from stablecoins into assets with higher upside potential, such as memecoins, is also a key point of observation.

    In summary, the current crypto landscape is a complex interplay of capital rotation, regulatory anticipation, and evolving technological narratives. The CLARITY Act’s progress and the growing narrative around Ethereum’s role in AI are key drivers influencing market sentiment and investor behavior, while major assets like Bitcoin and Ethereum demonstrate resilience.

    Why This Matters

    The materials describe a narrow update: The stablecoin market has seen a decline of over $10 billion since May, with funds reportedly rotating into memecoins. The exact impact of the CLARITY Act if passed.

    Broader Context

    Source materials place the factual news in this context: The stablecoin market has lost more than $10 billion since May, but it might not be a warning sign. Instead, money is flowing into memecoins as investors chase higher returns on Robinhood chain. Bitcoin, Ethereum, and the CLARITY Act are now driving price sentiment, with lawmakers expected to unveil an updated version of the bill next week.

  • BYDFi Connects with Web3 Community at Peru Blockchain Conference 2026

    BYDFi Connects with Web3 Community at Peru Blockchain Conference 2026

    BYDFi, a global crypto trading platform, established a presence at the Peru Blockchain Conference 2026, held July 10-11 in Lima. The event, hosted at the JW Marriott Larcomar in Miraflores, marked its fifth edition and convened approximately 4000 attendees, 100 speakers, and 50 sponsors, establishing itself as a significant forum for blockchain, crypto, and trading discussions in Peru.

    During the conference, BYDFi operated a booth, facilitating interactions with attendees to discuss trading experiences and distribute branded merchandise, including football-themed items. The conference program addressed key areas within the digital finance landscape, such as Crypto & Digital Assets, Blockchain & Web3, Trading and Financial Markets, Artificial Intelligence, Fintechs and Startups, Regulatory Frameworks for Peru & LATAM, Asset Management, and Financial Education.

    Founded in 2020, BYDFi currently serves over 1,000,000 users across more than 190 countries and regions. The platform holds partnerships, including being Newcastle United’s Exclusive Official Crypto Exchange Partner, and has been recognized by Forbes Advisor Canada as one of the best crypto exchanges in Canada for 2026. Michael Hung serves as the Co-Founder & CEO of BYDFi.

    The conference provided BYDFi an opportunity to engage with the Latin American Web3 community, exploring topics like market access, trading tools, and user experience, alongside the evolving relationship between crypto and traditional finance. This engagement aligns with BYDFi’s overarching theme, “Built for Reliability,” which underscores the company’s commitment to developing stable and trustworthy trading experiences as digital finance adoption grows globally.

    Why This Matters

    The materials describe a narrow update: BYDFi, a global crypto trading platform, had a booth at the Peru Blockchain Conference 2026, interacting with attendees, discussing trading experiences, and distributing branded merchandise. The agenda offered BYDFi a clear view of the conversations shaping user expectations around access, usability, trust, and long-term participation in digital finance.

    Broader Context

    Source materials place the factual news in this context: The conference covered themes including Crypto & Digital Assets, Blockchain & Web3, Trading and Financial Markets, Artificial Intelligence, Fintechs and Startups, Regulatory Framework Peru & LATAM, Asset Management, and Financial Education.

  • Prosecutors Suggest Crypto Mixer, Privacy Coin Use as Money Laundering Indicator

    Prosecutors Suggest Crypto Mixer, Privacy Coin Use as Money Laundering Indicator

    Prosecutors Propose New Framework for Crypto Money Laundering Cases

    An article published in the official newspaper of China’s top prosecutors’ office has outlined a potential framework for prosecuting cryptocurrency money laundering, suggesting that courts should presume criminal intent when suspects utilize coin mixers and privacy coins. The proposal also advocates for the state to establish a platform for liquidating seized cryptocurrency.

    The piece appeared in the “theory” section of the Procuratorate Daily, the newspaper of the Supreme People’s Procuratorate. Authored by two district prosecutors from Hunan province and a university law professor, the article carries no legal weight. However, such publications offer insight into the evolving legal thinking within China’s prosecution system, which charged over 3,000 individuals with crypto-related money laundering in 2024 alone.

    According to the authors, China’s specific money-laundering offense currently encompasses only seven categories of predicate crimes. Consequently, prosecutors often resort to a broader “concealment” charge for crypto cases, a workaround they describe as having become an overextended catch-all.

    The authors urge the adoption of a “double investigation of one case” rule. This would involve scrutinizing every underlying crime for laundering activities and requiring investigators to meticulously map the flow of any involved cryptocurrency. This proposal builds upon a 2024 judicial interpretation from China’s Supreme People’s Court, which already classifies the use of virtual asset transactions to move criminal proceeds as a form of money laundering.

    The most significant proposals relate to the burden of proof. The authors contend that courts should be empowered to presume a suspect’s intent to launder money unless they can provide “reasonable counter-evidence.” This presumption would apply when suspects employ tools designed to obscure transactions, such as mixers or privacy coins; offload large amounts of cryptocurrency at “obviously unreasonable” prices; or conduct high-frequency, large-scale transfers through anonymous wallets lacking any link to their identity.

    Furthermore, the article introduces a “blockchain data self-verification” principle. This would treat on-chain records, verifiable on public block explorers with matching hash values, as presumptively genuine, shifting the onus of proof to any party disputing them. Reports from compliant blockchain analytics firms, including fund flow maps and address clustering, would be admissible as expert evidence. Money laundering could then be established from circumstantial, fragmented evidence, provided it forms a coherent chain, even if not every coin can be traced to its origin.

    Addressing Seized Cryptocurrency

    The third key aspect of the article addresses the disposition of seized cryptocurrency in China. Beijing’s ban on cryptocurrency trading means that authorities confiscating tokens lack a clear legal avenue to convert them into fiat currency, leaving billions of dollars in assets in a legal gray area.

    The article advocates for a national platform to manage and dispose of seized crypto through “compliant channels,” such as directed auctions. It also calls for a standing expert committee to value holdings based on on-chain data and global exchange prices. Additionally, the proposal includes provisions for cross-border deals and a blockchain-based “judicial cooperation chain” to trace and recover assets moved offshore. In practice, local governments have reportedly been discreetly selling seized cryptocurrency through private firms in offshore markets, a workaround that Reuters documented last year and which a formal system would aim to replace.

    China outlawed cryptocurrency trading and mining in 2021, yet it remains a significant hub for crypto-based money laundering. Chinese police have dismantled large laundering rings, including a $1.7 billion operation in 2022. According to Chainalysis, Chinese-language laundering networks processed an estimated $16 billion in 2025 and now account for roughly one-fifth of all global crypto money laundering. The firm attributes their rise partly to China’s capital controls, as wealthy citizens moving funds offshore provide the liquidity that enables these networks to launder money for Western organized crime groups.

  • Binance to Accept SKHYB Tokenized Securities as Collateral

    Binance to Accept SKHYB Tokenized Securities as Collateral

    Binance announced today that SK Hynix (SKHYB) bStocks tokens will be added as eligible collateral assets for its Cross Margin, Portfolio Margin, and Portfolio Margin Pro services. The integration is scheduled to take effect on July 13, 2026, at 13:30 UTC.

    New Collateral Options for Margin Trading

    With this update, eligible users will be able to utilize SK Hynix bStocks tokens as collateral within Binance’s margin trading products. This expansion aims to provide users with a broader range of collateral options, thereby enhancing their margin trading capabilities. Corresponding bStocks trading pairs will also become available for margin trading.

    Eligibility and Restrictions

    This new feature is exclusively available to users with VIP 3 status and above, and only within permitted jurisdictions. Users in restricted regions will not have access to this functionality.

    Risk Management and Further Information

    Binance advises users to implement robust risk management strategies and to consistently monitor their margin levels when using bStocks as collateral. For detailed information on the index price methodology for bStocks as collateral assets, users are directed to consult the “bStocks Tokenized Securities Collateral Index Price Methodology.”

    Further details regarding marginable assets and related information can be found in the “Margin Data” section.

    Binance reserves the right to amend or cancel this announcement at any time and for any reason without prior notice.

    It is important to note that information concerning Tokenized Securities is not intended as an offer, solicitation, promotion, recommendation, or invitation to buy or sell securities in any jurisdiction. Tokenized Securities are not offered, sold, distributed, made available, or accessible in the United States or to U.S. persons. These securities have not been registered under the U.S. Securities Act of 1933 or any U.S. state securities laws, and a public offering will not be conducted in the United States or any other jurisdiction, with the exception of the ADGM. By accessing this product, users represent and warrant that they are not a U.S. person, are not located in the United States, are not acting for the account or benefit of a U.S. person, and will not access, purchase, sell, transfer, redeem, or otherwise transact in Tokenized Securities from within the United States.

  • Uniswap Activates UNI Buybacks and Burns as Protocol Fees Launch

    Uniswap Activates UNI Buybacks and Burns as Protocol Fees Launch

    Uniswap Fee Switch Goes Live, Generating Millions in Daily Revenue

    Uniswap’s long-anticipated fee switch has officially activated, with protocol founder Hayden Adams reporting approximately $5.2 million in daily fees generated. This figure places Uniswap’s revenue generation behind only stablecoins Tether and Circle, according to current data. The move has prompted cryptocurrency traders to analyze its potential impact, with the native UNI token trading near $3.50.

    As of today, Uniswap also solidifies its position as the leading decentralized exchange in terms of fee generation, maintaining a significant lead over competitors. This development comes as the protocol, often declared obsolete during market downturns, continues to demonstrate its resilience and utility.

    Mechanism for Fee Accrual and UNI Burns

    Under the new system, protocol fees are now accumulated on-chain and can only be claimed through the burning of UNI tokens. This direct linkage ensures that protocol revenue directly contributes to token burns, bypassing the need for further governance votes on the matter. The mechanism is now operational, meaning that robust trading days will automatically increase fees within the system, subsequently leading to more UNI burns without requiring additional proposals or community polls.

    This provides the market with a tangible metric to monitor. If Uniswap consistently generates over $5 million in daily fees, investors will be compelled to reassess whether the current UNI price adequately reflects this reality. While market narratives can influence price action, sustained cash flow is often the ultimate determinant of long-term value.

    Rewarding Liquidity Providers and UNI Holders

    The fee switch fundamentally alters how Uniswap rewards both liquidity providers (LPs) and UNI holders. Protocol fees are now distributed across v2 and select v3 pools on 11 different blockchains. In these enabled pools, LPs will receive a 0.25% fee, while the protocol retains a 0.05% slice. This protocol portion is automatically allocated to UNI buybacks and burns, rather than being directed to a central treasury.

    This model was introduced as part of the UNIFication initiative, which also included a one-time burn of 100 million UNI from the crypto treasury. This initial burn addressed fees that had accumulated prior to token holders sharing in protocol revenue. The rollout was implemented in phases, commencing with Ethereum in late December 2025 and expanding to additional networks through March and June 2026. Revenue from Unichain sequencers also contributes to the burn pool after necessary deductions.

    Potential Impact on UNI Supply and Trading Volume

    The financial implications become particularly significant when considering trading volume. Crypto governance estimates suggest that this model could have resulted in approximately $26 million worth of UNI being burned over a 30-day period. At similar activity levels, year-to-date burns could have approached $150 million, based on historical trading data.

    A key future milestone involves extending protocol fees to v4 pools, contingent on governance approval. If trading activity remains strong, UNI’s circulating supply is expected to decrease over time. Conversely, a decline in trading volume would slow the burn rate and potentially temper the positive narrative surrounding the token. UNI recently traded around $3.51, while Ethereum was priced near $1,825. Given that Ethereum remains the primary driver of Uniswap’s fee generation, its trading activity will be a crucial factor to watch.