DOJ Seizes $34 Million in Crypto From Dark Web Dealer

U.S. federal prosecutors in the Southern District of Florida seized approximately $34 million in cryptocurrency tied to illegal activity on the dark web, a press release said on Tuesday (April 5).

Law enforcement officers identified a South Florida resident who allegedly made millions via an online alias that netted him over 100,000 sales of illicit items and hacked online account information on various dark web markets.

An example in the press release states that he sold hacked online account information for various online services like HBO, Netflix, and Uber.

Meanwhile, Singapore has passed a new law to tighten rules on crypto providers, showing it may be starting to appreciate the industry, Bloomberg reported.

The law will require virtual asset service providers in the city-state to be allowed to do business overseas.

Companies are not regulated for the fight against money laundering or the financing of terrorism, at present.

Bloomberg wrote that the tougher rules also come as the regulator discouraged companies in the crypto sector from advertising, showing how cautious Singapore has been.

In Georgia, new crypto rules may be falling, an interview with Koba Gvenetadze, Governor of the National Bank of Georgia, told Finchannel.

The NBG reportedly intends to regulate crypto and has drafted the necessary legislative changes.

Gvenetadze said they were getting technical assistance from International Monetary Fund staff.

But he said some steps were already underway.

“In particular, financial institutions have been prohibited from providing virtual asset exchange and transfer services,” he said. “In addition, individuals who engage in activities related to virtual assets should be classified by financial institutions as high-risk customers and should be subject to appropriate enhanced preventive measures.”

Finally, Ethereum blockchain scaling platform Boba Network raised $45 million in its Series A, according to a report. Investors included venture capital firms led by Will Smith and Paris Hilton, as well as stock exchange Crypto.com and former NFL quarterback Joe Montana.

The funding round gives Boba a valuation of $1.5 billion.

Boba allows users to develop decentralized applications on the blockchain with more features and cheaper fees. It also allows you to transfer NFTs.

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