Tag Archives: Law enforcement action

It aggregates cases related to regulatory enforcement, criminal investigations, penalties, asset freezes, regulatory settlements, and virtual asset compliance.

SFC Hong Kong revokes Chan Chi-kin's license and bans him from the industry for 10 years: The responsible personnel's misrepresentation of working capital constitutes misconduct.
SFC Hong Kong revokes Chan Chi-kin's license and bans him from the industry for 10 years: The responsible personnel's misrepresentation of working capital constitutes misconduct.

The Hong Kong Securities and Futures Commission (SFC) has revoked Ernest Chan Tsz Kin's license and approval to serve as a Responsible Officer (RO), and has banned him from working until August 24, 2026.

24
June
UK court liquidates Key Coin Assets: FCA warns of unauthorized crypto investment scams and advises investors on self-protection.
UK court liquidates Key Coin Assets: FCA warns of unauthorized crypto investment scams and advises investors on self-protection.

On August 11, 2026, the UK High Court ordered the liquidation of Key Coin Assets Ltd. The Insolvency Authority determined that it had no genuine cryptocurrency transactions and that funds were transferred to directors' personal accounts, exhibiting characteristics of a Ponzi scheme. Nine investors lost over £300,000. The FCA has listed it as an unauthorized entity since September 2024, advising investors to use Firm Checker to verify its registration status.

24
June
Seoul Customs arrests drug traffickers smuggling drugs via the dark web; VASP registration review and travel rules are tightened simultaneously.
South Korea's VASP (Visa Application Program) on anti-money laundering and cross-border transfers: Current travel rules and the 2026 revisions should be verified separately.

According to official South Korean documents, the scope of application, implementation schedule, and cross-border conditions of the current travel rules should be verified separately from those of the revised rules approved in 2026; no enforcement conclusions for any platform or individual case can be presumed based on this.

19
June
Knaken, an unlicensed Dutch trading platform, goes bankrupt: failure of customer asset segregation and the boundaries of CASP licenses.
Knaken, an unlicensed Dutch trading platform, goes bankrupt: failure of customer asset segregation and the boundaries of CASP licenses.

Dutch prosecutors seized €220 million in crypto assets from the unlicensed platform Knaken, while clients had invested over €1,000 million. The shortfall stemmed from the lack of segregation of client assets, highlighting the necessity of a CASP license for protecting client assets.

17
June
South Korean Delio CEO sentenced to 15 years in prison for $4900 million fraud: False VASP registrations were key to conviction.
South Korean Delio CEO sentenced to 15 years in prison for $4900 million fraud: False VASP registrations were key to conviction.

On August 13, the Seoul Southern District Court sentenced Jung Sang-ho, founder of the crypto lending platform Delio, to 15 years in prison. His primary charge was the collapse of the server's forensic program, but he was ultimately convicted of fraud of approximately $49 million. The court also found him guilty of registering a VASP license with a false audit report, highlighting the red lines of due diligence for licensed institutions and the personal responsibility of the actual controller.

15
June
Australian ASIC warns Yepbit of unlicensed operation: Analysis of AFSL and AUSTRAC VASPR dual registration requirements
Australian ASIC warns Yepbit of unlicensed operation: Analysis of AFSL and AUSTRAC VASPR dual registration requirements

On August 12, 2026, the Australian Securities and Investments Commission (ASIC) issued a warning to Yepbit and Yepbit Exchange because several investors were unable to withdraw their funds. Yepbit falsely claimed that ASIC's freezing of funds was a pretext to refuse refunds, and further alleged that it did not hold an AFSL and was not listed...

14
June
The CFTC and SEC jointly sued Goliath Ventures: a comprehensive law enforcement overview and compliance implications of a nearly $4 million crypto Ponzi scheme.
The US CFTC has filed a lawsuit, and the SEC is simultaneously pursuing a civil suit against Goliath Ventures. Officials have confirmed the parallel enforcement, but the amounts involved and the number of people implicated are inconsistent.

As of August 12, 2026, the primary source chain will consist of at least three layers: the CFTC announcement on August 11, 2026, the SEC's litigation release on the same day, and the DOJ's June 2026 announcement.

12
June
The IRS has issued a fraud alert regarding physical mail scams targeting cryptocurrency holders: phishing attacks using fake "digital asset compliance portals" and compliance warnings from licensed institutions.
The IRS has issued a fraud alert regarding physical mail scams targeting cryptocurrency holders: phishing attacks using fake "digital asset compliance portals" and compliance warnings from licensed institutions.

On July 30, 2026, the U.S. IRS-CI issued an official fraud alert: scammers impersonated the IRS via physical mail, using QR codes to lure crypto holders into registering on a fake Digital Asset Compliance Portal. Coinbase and DarkTower traced the domain back to a Hong Kong registrar and found that the server was hosted in Romania. This article dissects the entire fraud chain and analyzes the customer protection obligations and compliance implications for licensed crypto institutions.

31
June
Montreal police arrest third suspect in cryptocurrency investor home invasion robbery: Cross-provincial law enforcement cooperation and a warning about personal safety in the cryptocurrency world.
Montreal police arrest third suspect in cryptocurrency investor home invasion robbery: Cross-provincial law enforcement cooperation and a warning about personal safety in the cryptocurrency world.

Montreal police have arrested a 16-year-old third suspect in a January 2026 armed robbery targeting cryptocurrency investors. He was previously wanted throughout Canada. The three suspects face charges of burglary and armed robbery, while one person remains at large. This case is the latest development in Canada's efforts to address the trend of armed robberies targeting high-net-worth cryptocurrency investors. Delta Police and the Richmond RCMP had previously issued public security warnings regarding similar cases, highlighting the governance gaps in personal safety arising from the public disclosure of on-chain information.

26
June
American police fraternities shift support to the CLARITY Act: How law enforcement divisions are reshaping the crypto legislative game.
American police fraternities shift support to the CLARITY Act: How law enforcement divisions are reshaping the crypto legislative game.

2026年7月24日，拥有38.2万名会员的美国警察兄弟会（FOP）宣布转而支持最新版CLARITY Act。FOP曾在4月强烈反对BRCA第604条，此次转向标志着加密立法史上最重要的执法部门立场转变。

25
June
Hong Kong's SFC and the China Securities Regulatory Commission held their 17th High-Level Enforcement Cooperation Meeting: Deepening Cross-Border Enforcement Cooperation Mechanisms and Establishing a New Compliance Landscape for Licensed Institutions.
Hong Kong's SFC and the China Securities Regulatory Commission held their 17th High-Level Enforcement Cooperation Meeting: Deepening Cross-Border Enforcement Cooperation Mechanisms and Establishing a New Compliance Landscape for Licensed Institutions.

The Hong Kong Securities and Futures Commission (SFC) and the China Securities Regulatory Commission (CSRC) held their 7th Senior Enforcement Cooperation Meeting in Hong Kong on July 10, 2026. The two sides engaged in in-depth discussions on key enforcement priorities, sharing experiences in handling major cross-border cases, and optimizing information-sharing mechanisms. The CSRC clearly stated its commitment to strictly cracking down on cross-border illegal and irregular activities in accordance with the law, jointly safeguarding the stable and healthy development of the capital markets in both places, and imposing higher requirements on the cross-border compliance obligations and information disclosure standards of licensed institutions.

25
June
The Thai SEC has filed a criminal complaint against the cryptocurrency exchange Bitkub, alleging false reporting in connection with a $5,080 million theft five years ago and issuing a licensing and compliance warning.
The Thai SEC has filed a criminal complaint against the cryptocurrency exchange Bitkub, alleging false reporting in connection with a $5,080 million theft five years ago and issuing a licensing and compliance warning.

On July 23, 2026, the Thai SEC formally filed a criminal complaint against Bitkub Online and two of its former directors, accusing them of misconduct in May 2021.

25
June
The SEC has reached a settlement with Coinbase in the Gensler SMS missing case: Coinbase will pay $15 in legal fees and reform its records keeping policy.
The SEC has reached a settlement with Coinbase in the Gensler SMS missing case: Coinbase will pay $15 in legal fees and reform its records keeping policy.

The U.S. Securities and Exchange Commission (SEC) and Coinbase reached a settlement in their FOIA lawsuit, with the SEC paying $15 in legal fees and committing to reforming its records preservation system. At the heart of the case was the deletion of text message records of senior officials during Gary Gensler's tenure, spanning nearly a year, coinciding with the SEC's most aggressive enforcement actions against the crypto industry.

24
June
A UNODC report states that Southeast Asian cryptocurrency scam networks cause $1140 billion in losses annually, and their corporatized operating models challenge global anti-money laundering compliance systems.
A UNODC report states that Southeast Asian cryptocurrency scam networks cause $1140 billion in losses annually, and their corporatized operating models challenge global anti-money laundering compliance systems.

联合国UNODC发布2026年东南亚跨国有组织犯罪威胁评估报告：2025年亚太地区在线诈骗损失高达883亿至1,141亿美元，较2023年增长三倍以上。诈骗网络演变为企业化特许经营模式，USDT-TRON链上洗钱超120亿美元。本文从反洗钱合规与VASP持牌机构视角解读报告核心发现。

23
June
Four departments in Shenzhen, China, jointly shut down encrypted and non-compliant self-media accounts: This action is part of the internet content ecosystem governance framework outlined in Document No. 42 of 2026 issued by the Shenzhen Municipal Government.
Four departments in Shenzhen, China, jointly shut down encrypted and non-compliant self-media accounts: This action is part of the internet content ecosystem governance framework outlined in Document No. 42 of 2026 issued by the Shenzhen Municipal Government.

The Shenzhen branch of the People's Bank of China, the China Securities Regulatory Commission, the Cyberspace Administration of China, and the Shenzhen Municipal Financial Regulatory Bureau jointly announced the permanent closure of 12 non-compliant self-media accounts, eight of which were involved in cryptocurrency marketing. Based on document Yinfa [2026] No. 42, this is the first time such a cross-departmental joint enforcement action has been publicly announced, marking self-media channels as a new focus of cryptocurrency compliance enforcement.

23
June
French AMF MiCA enforcement has been escalated: 38 unauthorized encrypted websites have been blacklisted since the beginning of the year, with unlicensed operations facing fines of up to €1,500 million.
French AMF MiCA enforcement has been escalated: 38 unauthorized encrypted websites have been blacklisted since the beginning of the year, with unlicensed operations facing fines of up to €1,500 million.

法国AMF自2026年初至今已将38家未授权加密网站列入黑名单，最近一批16家于7月8日公布。MiCA框架下None牌运营最高面临1,500万欧元或年营业额12.5%行政罚款，法国更可追加两年有期徒刑。黑白名单双轨制成为投资者保护核心工具。

23
June
The Bank of Thailand, in collaboration with the SEC, is investigating large-scale USDT transactions: 40% of the sellers are foreign, requiring proof of origin for 500 million baht in deposits, and cracking down on the grey economy – a three-pronged approach.
The Bank of Thailand, in collaboration with the SEC, is investigating large-scale USDT transactions: 40% of the sellers are foreign, requiring proof of origin for 500 million baht in deposits, and cracking down on the grey economy – a three-pronged approach.

泰国央行行长Vitai Ratanakorn于2026年7月11日宣布BOT与SEC联合启动大额USDT异常交易系统性稽查。40%的USDT卖方为外国公民，500万泰铢以上现金存款Q4起须证明资金来源。前期提现管控已使大额提现下降35%，黄金提现暴跌82%。

23
June
South Korea's FIU has imposed a record-breaking 368 billion won fine on Bithumb, serving as a compliance warning under the aggravated penalty clause for repeat offenders within three years of the Special Kim Jong-un Act.
South Korea's FIU has imposed a record-breaking 368 billion won fine on Bithumb, serving as a compliance warning under the aggravated penalty clause for repeat offenders within three years of the Special Kim Jong-un Act.

韩国FIU于2026年7月16日对Bithumb处以368亿韩元罚款及6个月新用户出入金限制，创韩国加密行业最高罚单纪录。与18家海外未申报VASP交易45,772笔、KYC违规355万笔，三年再犯加重条款触发。

23
June
CFTC's $1400 million fraud lawsuit against a North Carolina commodity pool operator: False performance statements and allegations of perjury mark a new dimension in crypto fund enforcement.
CFTC's $1400 million fraud lawsuit against a North Carolina commodity pool operator: False performance statements and allegations of perjury mark a new dimension in crypto fund enforcement.

On July 7, 2026, the CFTC filed a lawsuit against Trevor L. Vernon of North Carolina and his company, Argent Capital Management LLC, accusing them of fraudulently raising over $14 million through false performance reports and Ponzi scheme payments, involving at least 60 participants. Key escalation: Vernon swore to commit perjury during the investigation.

23
June
U.S. Attorneys in the District of Columbia have filed five civil forfeiture lawsuits, bringing the total value of recovered assets from cryptocurrency scams to over $800 million.
U.S. Attorneys in the District of Columbia have filed five civil forfeiture lawsuits, bringing the total value of recovered assets from cryptocurrency scams to over $800 million.

On July 21, 2026, the U.S. Attorney's Office for the District of Columbia, in conjunction with the Secret Service, filed five civil forfeiture lawsuits seeking to seize over $25 million in fraudulently obtained cryptocurrency assets. The five cases cover three main modus operandi: fraudulent investment platforms, online romance scams, and scams impersonating asset recovery agencies. The Scam Center Strike Force has recovered over $800 million in total, and civil forfeiture is becoming a core law enforcement tool at the federal level in combating cryptocurrency fraud.

22
June

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