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BTC $74,800.50 -0.33%
ETH $2,325.83 -1.29%
BNB $627.94 +0.44%
XRP $1.43 +1.60%
SOL $87.74 +2.80%
TRX $0.3259 +0.07%
DOGE $0.0970 +0.76%
ADA $0.2530 +1.40%
BCH $449.80 +1.53%
LINK $9.36 +0.66%
HYPE $43.71 -3.72%
AAVE $112.46 +5.62%
SUI $0.9797 +0.40%
XLM $0.1650 +2.85%
ZEC $331.35 -3.15%

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The U.S. SEC releases a statement providing key guidance: some cryptocurrency trading front-ends do not need to register as brokers

The U.S. Securities and Exchange Commission (SEC) Division of Trading and Markets issued a staff statement providing guidance on whether certain user interfaces used to generate trading instructions for crypto asset securities (Covered User Interface) need to be registered as broker-dealers.The statement noted that under specific conditions, providers of such interfaces may not need to register as broker-dealers under Section 15 of the Securities Exchange Act. These conditions include: not actively soliciting specific trades, not providing investment advice, not controlling or executing trades, generating trading instructions solely based on objective parameters, and fully disclosing the fee structure, potential conflicts of interest, and associated risks to users.The SEC emphasized that such interfaces typically exist in the form of websites, browser plugins, or wallet applications, used to convert trading parameters set by users into on-chain executable instructions, while also providing market data such as prices, paths, and fees.Additionally, the statement clarified that such exemptions do not apply to activities involving trade matching, fund custody, order routing, or providing investment advice. The relevant guidance is a temporary opinion and will automatically expire in 2026 if no further action is taken. The SEC stated that this move aims to provide a clearer regulatory framework for activities related to crypto asset securities and continues to seek market feedback.

ZachXBT accuses Russian OTC broker Aleks Khinkis of being involved in a $4.7 million ransomware money laundering case

Renowned on-chain investigator ZachXBT released a report today stating that a Russian over-the-counter (OTC) broker named Aleksandr (Aleks) Khinkis is suspected of assisting ransomware groups in laundering over $4.7 million since 2025 through a single cryptocurrency trading platform account.The related funds involve three suspicious ransom payments, totaling approximately 796 bitcoins (BTC). The investigation shows that these funds were transferred in batches to his trading platform's deposit address (0xa756) after being bridged between Bitcoin and Avalanche, completing a total of 75 transactions from 2025 to 2026. Additionally, approximately $16.6 million is currently still held in Aave and is being gradually liquidated.ZachXBT pointed out multiple ransom transactions: a ransom payment of about 72 BTC in September 2025 was bridged to the related address; a ransom of about 164 BTC was also discovered in October 2025 and converted to approximately $3.8 million. Some related addresses were blacklisted by Tether in November 2025, and the subsequently frozen USDT was destroyed three weeks ago, indicating that law enforcement and compliance agencies have intervened.Earlier in 2023, this account was also involved in a ransom transaction of about 560 BTC, which was circulated through multiple intermediary addresses and trading platforms before being bridged back to the Avalanche network in 2024. Furthermore, the investigation pointed out that the source addresses of the related bitcoins have a high correlation with multiple ransomware addresses, suspected of serving as payment transit nodes. Although some funds remain dormant, ZachXBT warned that they may still be laundered in the future and urged victims to report related addresses promptly to freeze the funds.
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