The Bank of Korea has established a new virtual asset team under the Financial Payments Bureau.

Arizona man Vincent Anthony Mazzotta Jr. pleaded guilty to money laundering and conspiracy to obstruct justice on Monday for his role in orchestrating a $13 million crypto Ponzi scheme, a new press release from the Department of Justice (DOJ) states. Arizona man pleads guilty to money laundering charges related to Ponzi scheme that resulted in $13 million in investor losses https://t.co/lYXNDkr7M2 — US Attorney L.A. (@USAO_LosAngeles) July 28, 2025 Arizona Man Pleads Guilty in $13M Crypto Fraud According to the July 28 press release , the one-time Los Angeles resident and his co-defendant, David Saffron, fraudulently promised high-yield crypto-trading returns from investments in companies such as Mind Capital and Cloud9Capital, among others. The duo even went so far as to create an organization called the Federal Crypto Reserve (FCR), a fake entity that solicited thousands of dollars from victims of the scam under the guise of “investigating” the crypto companies involved in the scheme . Between FCR and the other fraudulent crypto investments, Saffron and Mazzotta defrauded victims out of $13 million. “Vincent Mazzotta defrauded investors in a sophisticated cryptocurrency scheme and then doubled down by using a fake government entity to further victimize those who had entrusted him with their money,” said Acting Assistant Attorney General Matthew R. Galeotti of the Justice Department’s Criminal Division. “Combating fraud in digital assets is critical to the Criminal Division’s efforts to vindicate victims’ interests and to keep bad actors out of the crypto markets,” he added. Co-Conspirators Tried to Destroy Evidence After Arrest Following Saffron’s arrest, Mazzotta and several other unnamed co-conspirators attempted to “conceal and destroy evidence” stemming from the crime, including an iPad and items in a personal safe. “Mazzotta also conspired to falsify the records of his business, Runway Beauty Inc., to conceal his involvement in the investment fraud scheme from a federal grand jury,” the press release states. Mazzotta, who is slated to be sentenced on December 15, is facing up to a total of 15 years behind bars for the digital asset scam .

Michael Saylor’s Bitcoin powerhouse, Strategy (formerly MicroStrategy), has officially closed the largest U.S. IPO of 2025, raising $2.521 billion through the public sale of its newly launched Stretch Preferred Stock (STRC) to acquire 21,021 Bitcoin (BTC) at an average price of $117,256 per coin. Strategy has acquired 21,021 BTC for ~$2.46 billion at ~$117,256 per bitcoin and has achieved BTC Yield of 25.0% YTD 2025. As of 7/29/2025, we hodl 628,791 $BTC acquired for ~$46.08 billion at ~$73,277 per bitcoin. $MSTR $STRK $STRF $STRD $STRC https://t.co/PEQQGfvkYe — Michael Saylor (@saylor) July 29, 2025 The historic capital raise was achieved through the sale of 28,011,111 shares of Variable-Rate Series A Perpetual Stretch Preferred Stock at $90 per share, resulting in net proceeds of approximately $2.474 billion after deducting fees. According to Strategy’s official announcement , STRC is expected to begin trading on the Nasdaq Global Select Market on or about July 30, 2025, under the ticker STRC. Strategy STRC Offering: From $500M Pitch to $2.5B BTC Juggernaut Initially marketed as a $500 million raise just last week , Strategy’s offering quickly ballooned amid institutional interest. The STRC Series A shares carry a 9% dividend and represent the first U.S. exchange-listed perpetual preferred security issued by a Bitcoin treasury company with a board-determined monthly dividend rate policy. 🚀 Michael Saylor’s @MicroStrategy has expanded its preferred equity sale to $2B from $500M to acquire more Bitcoin. #Strategy #Bitcoin #MicroStrategy https://t.co/E0t1v4QWC1 — Cryptonews.com (@cryptonews) July 24, 2025 This is also the largest U.S. exchange-listed perpetual preferred stock offering since 2009 and the largest U.S. IPO of 2025, based on gross proceeds. Following this purchase, Strategy now holds 628,791 BTC, acquired at a total cost of $46.8 billion with an average purchase price of $73,227 per BTC, including fees. The firm has consistently led corporate BTC adoption, often issuing new debt or equity to fund continued accumulation. Source: Strategy This latest haul, powered by the Stretch offering, reaffirms Saylor’s long-term conviction in Bitcoin as “digital property,” while also introducing a new financial instrument designed to attract income-focused investors to the crypto ecosystem. Between July 14 and July 20, Strategy raised $740.3 million across four classes of securities, including common stock and various preferred shares. These offerings fall under large multibillion-dollar issuance programs, some authorized for as much as $21 billion per class, showing Saylor’s continued ability to systematically convert equity into long-term Bitcoin reserves at an institutional scale.

The Hong Kong Monetary Authority (HKMA) announced Tuesday that it has officially launched its long-anticipated licensing regime for stablecoin issuers, with new guidelines set to come into effect on August 1. The latest update shows Hong Kong’s intention to regulate the growing stablecoin sector, offering clarity for market participants while reinforcing investor protection and financial integrity. New Guidelines Define Regulatory Path The HKMA published two sets of documents: the “Guidelines on the Supervision of Licensed Stablecoin Issuers” and the “Guidelines on Combating Money Laundering and Counter-Terrorist Financing.” These were accompanied by summary notes detailing licensing application procedures and transitional provisions for existing issuers. Institutions interested in applying must contact the HKMA by August 31 to receive early-stage feedback, with a submission deadline of September 30 for those ready to proceed. Compliance Requirements and Market Conduct Stablecoin issuers operating in or marketing to Hong Kong must now comply with the new Stablecoin Ordinance. The HKMA has warned that misleading claims regarding licensing status could result in criminal penalties. The Authority has not granted any licenses as of July 29, and the public is advised to verify any issuer’s credentials through the HKMA website before transacting. Transitional Period and Industry Readiness The transitional framework allows existing stablecoin issuers time to align with the new rules. Issuers already active in the market are expected to gradually bring their operations into compliance. The HKMA has positioned the licensing process as ongoing, encouraging applicants to demonstrate full preparedness before submitting materials for review. The HKMA is also actively shaping a regulatory framework for stablecoin issuers with a focus on risk mitigation, consumer protection, and financial system integrity. The HKMA is developing a regulatory framework for stablecoin issuers to mitigate risks, enhance user protection and safeguard financial stability, so as to unlock the potential of digital asset and foster its development in Hong Kong. 🔒🪙💡 pic.twitter.com/nU3DZ9eCvZ — HKMA 香港金融管理局 (@hkmagovhk) July 26, 2024 By introducing a clear licensing regime, the HKMA said it intends to make sure that only well-governed, transparent, and properly capitalized players can operate in the space. Beyond protection, the framework also reflects Hong Kong’s ambition to lead in regulated digital finance. With robust guardrails in place, the city can attract quality innovation, support institutional engagement, and strengthen its reputation as a global financial hub. Hong Kong Declares Unlicensed Stablecoin Promotions a Crime Last week, Hong Kong said it will soon make it illegal to market unlicensed stablecoins to the public, as the city tightens controls ahead of the rollout of a long-anticipated regulatory framework . The move comes as authorities seek to cool market euphoria and protect retail investors from hype and fraud in the digital asset space. Eddie Yue, chief executive of the HKMA, issued a warning on Wednesday, just days before the city’s Stablecoins Ordinance comes into effect on August 1. Is a CBDC the Next Step? Ultimately, this licensing initiative lays the groundwork for broader digital currency adoption, including potential central bank digital currencies (CBDCs). The HKMA’s strategy is clear: responsible innovation, backed by strong oversight, is key to unlocking the benefits of digital money while minimizing its risks. While the current focus is on private stablecoins, this regulatory rollout could be a precursor to broader digital currency ambitions. Hong Kong has been actively exploring central bank digital currencies (CBDCs), both at the wholesale and retail levels.