citizen

According to a notice from the U.S. Department of Justice, a Chinese citizen has been extradited for allegedly participating in a cryptocurrency fraud case targeting U.S. citizens, with the amount involved reaching millions of dollars. The man appeared in court for the first time after being extradited back to the U.S. from the Netherlands, where he is charged with participating in an international cryptocurrency investment fraud scheme.The scheme was carried out by a fraud operation located in Cambodia, with victims including 174 identified U.S. citizens. The man has been ordered to be detained; his formal arraignment is scheduled for November 30 at the federal district court in downtown Los Angeles.

According to Reuters, earlier this month, the U.S. Department of Justice announced a deferred prosecution agreement with "Bitcoin Jesus" Roger Ver, under which his fraud and tax evasion charges will be dismissed in exchange for a payment of up to $49.9 million in fines.Roger Ver, one of the earliest Bitcoin evangelists, bought a large amount of Bitcoin in 2011 for less than $3 million. In February 2014, to avoid high tax burdens, he acquired citizenship in the Caribbean nation of Saint Kitts and Nevis and renounced his U.S. citizenship the following month. At that time, he and his companies held at least 131,000 Bitcoins, valued at over $70 million based on the price at that time. He believed that by changing his nationality, he could put an end to the high tax burden in the U.S.However, the U.S.'s stringent "exit tax" completely thwarted his plans. According to U.S. tax law, eligible expatriates must treat their global assets as if they were "sold the day before expatriation" and pay capital gains tax. Although Ver reported and paid $1.03 million in taxes, he not only failed to report his personal holdings of Bitcoin but also severely undervalued his company's assets. Ten years later, the IRS confirmed his fraudulent tax evasion (which is not subject to the statute of limitations), ultimately forcing him to pay back up to $49.9 million in taxes, fines, and interest, which is 48 times the amount he reported paying in taxes that year.

U.S. President Donald Trump has once again promised that if the Republican Party wins the House of Representatives and the Senate in the midterm elections, every adult American citizen will receive a $5,000 dividend. This plan was previously proposed by Trump and remains a campaign promise.When asked whether this funding requires Congressional approval, Trump stated that they believe it does not; if it does, Congress will approve it. He also set a prerequisite that the funds must be spent within the United States, expressing a desire that this money does not flow to other countries, and claimed that this initiative will inject momentum into the economy.Based on approximately 240 million adult American citizens, the plan is expected to cost about $1.2 trillion, making it one of the largest economic stimulus plans in the U.S. since the COVID-19 pandemic.

According to Jinshi reports, on August 1 local time, the U.S. Embassy in Israel issued a security warning, stating that the situation in the Middle East remains tense, the security environment is complex, and there is an unpredictable risk of escalation. The warning pointed out that U.S. citizens in the region should remain cautious, stay vigilant, and be prepared for possible flight cancellations, airspace closures, and travel disruptions.Some airlines have delayed the resumption of flights, and other routes have been canceled. The embassy emphasized that U.S. citizens should consider evacuation or be ready to evacuate at any time.

The European Union has further tightened restrictions on cryptocurrency assets related to Belarus, prohibiting Belarusian citizens and residents from owning, controlling, or managing cryptocurrency service providers regulated by the Markets in Crypto-Assets Regulation (MiCA). According to the Council Decision (CFSP) 2026/1847 passed by the EU Council, this measure is an extension of the EU's sanctions framework against Belarus's involvement in the Russia-Ukraine conflict.The new regulations will officially take effect on July 24, with the expanded restrictions on the cryptocurrency industry set to be implemented from August 25. According to MiCA, the affected services include operating cryptocurrency trading platforms, cryptocurrency exchanges, executing and transmitting customer orders, cryptocurrency issuance services, asset transfer services, investment consulting, and portfolio management.This restriction comes as the MiCA transition period ends on July 1. The EU had previously required unauthorized cryptocurrency businesses to cease related operations, or face regulatory enforcement. The EU stated that this expansion of restrictions is part of its efforts to combat the use of cryptocurrency platforms to evade sanctions against Russia. Previously, in the 21st round of sanctions against Russia, the EU had expanded the trading ban to 14 cryptocurrency-related service platforms outside the EU and established a mechanism to prohibit future transactions with any foreign cryptocurrency service providers identified as helping Russia evade sanctions. Market participants noted that as the MiCA regulatory framework is fully implemented, the EU is further strengthening its regulatory control over the cryptocurrency industry through licensing systems and sanction mechanisms.

According to a statement from the U.S. Attorney's Office for the Eastern District of New York, two Chinese citizens, Chen Zhuoying (also known as "Jolene," 27 years old, Brooklyn) and Zhang Haojie (also known as "Kevin," 38 years old, Queens), were formally charged on July 16 in federal court in Brooklyn with conspiracy to commit money laundering.According to the allegations, the two managed a money laundering network of over ten people in Queens and Brooklyn from 2020 to 2022, using approximately 45 shell companies and 140 business bank accounts to transfer at least $43 million in proceeds from "pig butchering" investment scams to accounts in China. The "pig butchering" scam contacts victims through social media or instant messaging software, gaining their trust with false high-return investment opportunities before absconding with their money. This case is being jointly investigated by Homeland Security Investigations (HSI), the FBI, IRS-CI, and the U.S. Postal Inspection Service. If convicted, both defendants face a maximum of 20 years in prison.

According to BFM News, the Johor state government of Malaysia has requested the federal government to investigate the Network School, founded by former Coinbase Chief Technology Officer Balaji Srinivasan, due to allegations that some Israeli citizens participated in the project using third-country passports. The Johor state government has asked the Ministry of Home Affairs and relevant law enforcement and security agencies to verify the identities, nationalities, and entry purposes of the individuals involved, and to investigate whether the operation of Network School requires registration or approval under Malaysian law.At the same time, authorities will also review whether the project complies with relevant regulations regarding site permits, building usage, land use, accommodation operations, and commercial activities. If any violations are found, actions will be taken in accordance with the law. It is understood that Network School is located in Forest City, Malaysia, founded by Balaji Srinivasan, and is a private residential community built based on his "Network State" concept, with membership fees starting at $1,500 per month, offering services such as accommodation, dining, fitness, and shared office space.

According to the Bangkok Post, Thai police raided a scam base in the Saraphi district of Chiang Mai province, arresting 10 Chinese citizens and seizing 67 mobile phones, 7 iPads, and 13 laptops.

According to the official website of the U.S. Securities and Exchange Commission (SEC), SEC Commissioner Hester M. Peirce delivered a speech at the "Regulating the PETshop Series" seminar at Georgetown University Law Center, calling for the inclusion of Privacy-Enhancing Technologies (PETs) in the financial regulatory framework.She criticized the current regulatory approach for being overly inclined towards government surveillance, arguing that technology should serve to protect personal privacy rather than expand the scope of surveillance, and pointed out that blockchain public wallet addresses can reduce the risk of personal information leakage for investors while meeting compliance requirements.Peirce also invited technology teams that can minimize personal information collection while meeting KYC and anti-money laundering regulatory requirements to actively collaborate with the SEC's Crypto Task Force.

According to Bits.media, the Central Bank of Russia aims to prohibit Russian citizens from trading on cryptocurrency exchanges that comply with international sanctions. Ekaterina Lozgacheva, head of the Central Bank's Strategic Development Department, stated that the Central Bank plans to ban Russians from trading on foreign cryptocurrency exchanges that adhere to international sanctions. Russians can only trade cryptocurrencies on foreign platforms through Russian brokers, provided that these foreign platforms do not comply with international sanctions.The country's central bank will establish its own standards for foreign platforms that Russian brokers and investors can use. Lozgacheva noted that even trading cryptocurrencies abroad through Russian intermediaries is subject to foreign regulation, posing additional risks. The annual purchase limit for non-professional investors is set at 300,000 rubles, and they can only access the most liquid cryptocurrency assets through domestic brokers. A test must be completed before trading, and qualified investors are not subject to the limit but must also undergo testing. Relevant restrictions will be included in the second reading version of the draft "Digital Currency and Digital Rights Law," with key provisions expected to take effect on July 1.

In February this year, several Chinese citizens were raided by the police at a rented villa in Country Heights, Kajang, Malaysia. The police claimed to suspect that the Chinese citizens were involved in fraud, and subsequently, the Chinese citizens were forced to transfer about $50,000 (approximately 200,000 ringgit) in USDT. The police later arrested 12 officers involved in the case and removed them from frontline duties, but the investigation still awaits technical reports and digital evidence results, and there has been no breakthrough to date.Lawyer Charles, representing eight Chinese victims, stated that the investigation is progressing too slowly. Since the arrest of the 12 involved police officers, there has been no further information, raising suspicions of internal interference attempting to suppress the case. He warned that if there is internal protection, he will file a complaint with the Malaysian Anti-Corruption Commission.

The People's Court of Haidian District, Beijing, disclosed a case involving virtual currency "box opening." The defendant illegally obtained citizens' personal information through encrypted communication tools and other channels, unlawfully acquiring over 900 million pieces of information data, building a "social engineering database" website storing over 170 million pieces of citizens' personal information, and profiting by selling it in exchange for virtual currency. Additionally, they used encrypted communication tools to establish a "box opening hang person" group to publish illegal information that infringes on privacy.The court sentenced the principal offender, Lin, to 7 years in prison for the crime of infringing on citizens' personal information and the crime of illegally using information networks, and imposed a fine of 70,000 yuan.

The Central Bank of Russia stated that it plans to require its citizens to declare their cryptocurrency assets held overseas after the new round of cryptocurrency regulatory rules comes into effect.Vladimir Chistyukhin, the First Deputy Governor of the Central Bank of Russia, pointed out that the new regulations will strengthen KYC requirements for exchanges to enhance transaction transparency. He also emphasized that regulation does not prohibit individuals or institutions from holding cryptocurrency assets in overseas wallets, but they must declare them to the federal tax authority. This measure is expected to come into effect in July along with the relevant regulatory framework.

According to The Block, the Vietnamese Ministry of Finance is drafting regulations to prohibit its citizens from trading on overseas cryptocurrency platforms, while promoting a pilot program for local cryptocurrency exchange licenses.This move stems from regulatory concerns about the rising risk of capital outflow due to the popularity of cryptocurrencies and stablecoins. Chainalysis data shows that Vietnam's cryptocurrency trading volume exceeded $20 billion in the 12 months ending June 2025, ranking fourth in the global cryptocurrency adoption index. Cryptocurrency assets have been integrated into scenarios such as cross-border remittances, savings, and gaming. Currently, five institutions, including Techcombank, VPBank, LPBank affiliates, brokerage VIX Securities, and conglomerate Sun Group, have passed the first round of qualification review. The pilot program requires applicants to have a minimum paid-up registered capital of 10 billion Vietnamese dong (approximately $400 million), with a foreign ownership limit of 49%.

According to Decrypt, Chinese citizen Zhang Xinghua was sentenced to two years in prison by a Singapore court for conspiring to abuse computer systems and handling criminal proceeds in connection with a theft of approximately $6.9 million at the SafeX cryptocurrency exchange.Prosecutors stated that he conspired with two other accomplices, one of whom, Chen Chong Xin, who is still at large, accessed the SafeX crypto vault without authorization three times between June and August 2025, transferring over $6.9 million to multiple wallets. He then laundered part of the funds through Tornado Cash, depositing over $1.6 million in two transactions, which could have yielded over $886,000 in profits, but police intervened to stop it.The case came to light after the SafeX system triggered a low balance alert. Singapore has frozen or seized approximately $2.1 million in related crypto assets, while about $4.8 million remains unrecoverable in offshore private wallets or with virtual asset service providers. Court hearings revealed that Zhang Xinghua returned approximately $95,000 in Bitcoin through his wife. Another accomplice in the case is still under investigation.

According to Jinshi citing Xinhua News Agency, the United States and Israel have launched military actions against Iran, and the Iranian military has struck U.S. military bases in the Middle East. Some neighboring countries of Iran have closed their airspace, and international flights have been suspended. Chinese citizens have already been injured in the attacks, and some temporary travelers are stranded locally.The Chinese Ministry of Foreign Affairs reminds Chinese citizens to closely monitor the situation and to refrain from traveling to countries and regions around Iran that are affected by military strikes. Chinese citizens already in the aforementioned countries and regions should further enhance their security precautions and avoid sensitive areas such as military facilities and protests.

According to a report by The Wall Street Journal citing informed sources, the Trump administration is considering an executive order that would require banks to collect customers' citizenship data as part of its crackdown on immigration.Informed sources said that the initiative is primarily being assessed by the U.S. Department of the Treasury and could ultimately require banks to ask both new and existing customers who wish to maintain bank accounts in the U.S. for a type of unprecedented new documentation, such as passport information.

According to market news, the Philippine police recently successfully rescued a Chinese citizen who was illegally detained by Chinese kidnappers in an apartment in Pasay City. Two individuals were arrested on the scene, while two other suspects are still at large. The victim reported being threatened for a demand of 1 million dollars and had already transferred over 400,000 dollars in cryptocurrency; the suspects also threatened to sell organs.The police seized items such as tape, knives, and handcuffs at the scene and will file charges related to kidnapping and extortion.

The Marshall Islands distributes a national basic income (ENRA) through Stellar. The government of the Marshall Islands launched the first round of ENRA distribution on November 26, 2025, covering all citizens of the Marshall Islands, with funding sourced from the investment returns of the Compact Trust Fund (capped at 4%). The distribution methods include checks, bank transfers, and blockchain channels (Lomalo digital wallet, supported by Stellar). Additionally, the Stellar Foundation has also led the development of the digital sovereign bond USDM1. USDM1 is pegged 1:1 to short-term U.S. Treasury bonds, denominated in U.S. dollars and redeemable at face value.The national basic income is a mechanism through which the Marshall Islands ensures that national wealth is regularly shared among all citizens via this fund. The program aims to implement universal nationwide distribution for all resident citizens, with no income or employment thresholds, and maintains regular disbursements.

According to Bitcoin News, France has advanced Amendment No. 1649 AC, which requires citizens to declare the exact market value of their self-custodied cryptocurrencies, even if no taxable transactions have occurred.Critics warn that the measure is an improper invasion of privacy and will create a dangerous "data honeypot" containing names, addresses, and precise cryptocurrency asset balances.