The U.S. Department of Justice files civil forfeiture lawsuit for over $225 million in crypto fraud funds
PANews reported on June 18 that according to an official announcement, the U.S. Department of Justice filed a civil forfeiture lawsuit in the U.S. District Court for the District of Columbia, targeting more than $225.3 million in cryptocurrencies. According to investigations by law enforcement agencies such as blockchain analysis, these cryptocurrencies are related to the theft and laundering of funds from victims of crypto investment fraud. The relevant addresses constitute a complex money laundering network, and hundreds of thousands of transactions are executed to disperse the stolen funds to conceal the source. The head of the Criminal Division of the Department of Justice said that this move is to protect the public and will do its best to recover the funds. The U.S. Attorney for the District of Columbia said that his office is leading the fight against such scams and will return the seized funds to the victims. It is reported that more than 400 suspected victims have suffered losses due to fraudulent investments. The agent in charge of the U.S. Secret Service's San Francisco Field Office said that the funds seized this time are the largest cryptocurrency seizure in the history of the agency.
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Crypto execs met with US lawmakers to discuss Bitcoin reserve, market structure bills
Lawmakers in the US House of Representatives and Senate met with cryptocurrency industry leaders in three separate roundtable events this week. Members of the US Congress met with key figures in the cryptocurrency industry to discuss issues and potential laws related to the establishment of a strategic Bitcoin reserve and a market structure.On Tuesday, a group of lawmakers that included Alaska Representative Nick Begich and Ohio Senator Bernie Moreno met with Strategy co-founder Michael Saylor and others in a roundtable event regarding the BITCOIN Act, a bill to establish a strategic Bitcoin (BTC) reserve. The discussion was hosted by the advocacy organization Digital Chamber and its affiliates, the Digital Power Network and Bitcoin Treasury Council.“Legislators and the executives at yesterday’s roundtable agree, there is a need [for] a Strategic Bitcoin Reserve law to ensure its longevity for America’s financial future,” Hailey Miller, director of government affairs and public policy at Digital Power Network, told Cointelegraph. “Most attendees are looking for next steps, which may mean including the SBR within the broader policy frameworks already advancing.“Read more
