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The Supreme Procuratorate issued a document: Systematically breaking through the threefold dilemma of using virtual currency for money laundering regulation in criminal law

According to a report by the Procuratorial Daily, researchers from the People's Procuratorate of Yuhu District, Xiangtan City, Hunan Province, and the Law School of Xiangtan University have jointly written an article proposing a systematic response plan to the regulatory dilemmas of money laundering crimes using virtual currency. The article points out that current judicial practice faces three major dilemmas: first, Article 191 of the Criminal Law limits money laundering crimes to seven types of upstream crimes, resulting in many cases being treated as "concealment crimes"; second, methods such as mixers, privacy coins, and cross-chain transfers lead to fragmented evidence chains, making traditional investigative methods difficult to penetrate; third, conflicts in the legal attributes of virtual currency, a vacuum in procedural rules, and barriers to cross-border cooperation make it difficult to recover assets.In response, the article suggests promoting "dual investigations for one case," establishing the principle of self-authentication of blockchain data, constructing a tiered standard of proof, and establishing a national-level custody and disposal platform for involved virtual currencies, while actively promoting the signing of special agreements for international criminal justice assistance in virtual currency crimes.

Data: Short-term Bitcoin holders still dominate buying pressure, ETF funds have seen a return but the trend reversal cannot be confirmed

CryptoQuant analyst Axel Adler stated that the recently launched "Bitcoin Short-Term Holder Realized Pressure Model" shows that the buying and selling pressure from short-term holders is slightly cooling down, but buying power remains dominant. This model measures the changes in market bullish and bearish forces by comparing the realized buying pressure and selling pressure of short-term holders. During a bear market phase, this indicator can serve as a contrarian signal: when prices approach local lows, buyers are usually more active; when approaching local highs, selling pressure tends to increase. In the past 24 hours, the model has not shown any trend reversal signals. The latest hourly data shows that the buying pressure score is 28.57, slightly down from the previous day's 28.98; the selling pressure score is 22.62, a slight decrease from the previous 22.68. Currently, buyers are still leading sellers by about 5.94 percentage points.Overall, market buying pressure has cooled down, but short-term holders still maintain a buying advantage. Meanwhile, the funding situation in the Bitcoin ETF market has slightly improved. Following eight consecutive weeks of outflows, the ETF market recently recorded a net inflow of approximately $197.4 million. However, Adler pointed out that this scale is insufficient to confirm a reversal in institutional demand trends. Currently, the 30-day fund flow momentum for ETFs remains deeply negative, at about -$4.73 billion, and the cumulative fund size has fallen from a peak of about $62 billion to around $51 billion, indicating some improvement in short-term funds, but institutional buying demand has not fully recovered. Axel Adler expects that next week the market will face several important data and events, including further developments in the Middle East situation, the impact of the US-Iran conflict on energy supply, as well as earnings reports from major US banks, speeches from Federal Reserve Chairman Warsh, the June Consumer Price Index (CPI), the University of Michigan Consumer Sentiment Index, retail sales, and real estate market data.
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