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The UK's fraud review suggests that judges accept training on crypto money laundering and AI fraud, mentioning over 61,000 BTC seizure cases

A fraud review commissioned by the UK government suggests that the Judicial College should provide training for all judges and magistrates in England and Wales to address the increasing cases involving AI fraud and the use of cryptocurrency for money laundering. The report states that the overall Fraud Act 2006 can be used to handle AI fraud, but the issue lies in the courts' lack of preparedness to hear related cases.The report recommends evaluating whether the existing "long and complex trials" course should be updated or replaced with specialized modules on fraud and related crimes, and considers mandatory training for judges who may hear complex fraud cases. The report claims that fraud could soon account for half of all crime in England and Wales, with an estimated 4.1 million cases occurring within a year by June 2025, affecting 1 in every 14 adults and 1 in every 4 businesses. The Financial Ombudsman Service estimates that currently over half of investment scams involve crypto assets.The report also mentions the case of Qian Zhimin, who operated a Ponzi scheme in China, defrauding over 128,000 victims of approximately £5 billion and laundering the proceeds into Bitcoin. This case resulted in the largest confirmed Bitcoin seizure in UK history, exceeding 61,000 BTC, and Qian Zhimin was sentenced to 11 years and 8 months in prison at Southwark Crown Court in November.

India's IT training company Jetking's CFO reiterates Bitcoin reserve strategy, aiming to hold 18,000 coins by 2030

According to FinanceFeeds, Siddarth Bharwani, Joint Managing Director and Chief Financial Officer of Indian IT vocational training company Jetking Infotrain, stated on February 22 at the "Corporate Bitcoin" event in Las Vegas that the company will firmly advance its Bitcoin-based strategy.Jetking launched its Bitcoin reserve plan at the end of 2024, becoming the first listed company in India to list Bitcoin as a primary reserve asset. It currently holds 21 Bitcoins, valued at approximately $1.4 million, accounting for more than a quarter of the company's total market capitalization. Bharwani stated that this move aims to hedge against the long-term depreciation risk of the Indian Rupee, using Michael Saylor and Strategy as a strategic blueprint. The company's goal is to accumulate 210 Bitcoins by the end of 2026 and expand its holdings to 18,000 Bitcoins by 2030.On the regulatory front, the Bombay Stock Exchange (BSE) recently rejected Jetking's proposal to issue new shares for cryptocurrency investment purposes, citing a lack of a clear framework. However, Bharwani stated that the company is actively responding and views the current resistance as a "regulatory arbitrage opportunity" for early entrants.In addition to balance sheet management, Jetking is also incorporating Bitcoin and blockchain education into its vocational training programs. With over 100 training centers, the company trains 35,000 students annually, aiming to create a "Bitcoin learning ecosystem."Bharwani noted that as the ruling party in India begins discussions on a potential national Bitcoin strategic reserve, Jetking's exploratory practices are expected to provide a reference for the entire Asia-Pacific region.

Tether releases the synthetic dataset QVAC Genesis I for training AI models and launches the AI application QVAC Workbench

ChainCatcher news, according to the official blog, Tether Data's AI research division QVAC has launched the QVAC Genesis program and released the synthetic dataset Genesis I. This dataset contains 41 billion text tokens, helping to build smarter and more accurate STEM language models globally. The trained models can grasp words and their associative logic. It has been rigorously validated against educational and scientific benchmarks, demonstrating exceptional reasoning and problem-solving abilities in subjects such as mathematics and physics. It is the first publicly available synthetic dataset specifically constructed for educational content and rigorously validated, addressing the lack of publicly available training datasets in critical STEM fields. QVAC Genesis I aims to return the power of AI training to the public through open, high-quality data.In addition, Tether Data has released its first consumer application, QVAC Workbench, aimed at AI enthusiasts and others, supporting various large language models. The application is compatible with smartphones (currently only Android, with iOS to be launched) and desktop platforms, providing comprehensive local device support. When users utilize this application, chat and interaction data is 100% private, and the "delegated inference" feature can connect mobile and desktop versions, making full use of workstation resources.
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