Financial Crime
UK tax authority doubles warning letters to crypto investors
The UK's HM Revenue & Customs (HMRC) has doubled the number of warning letters sent to crypto investors suspected of tax evasion. In the 2024-25 tax year, nearly 65,000 such letters were issued, up from 27,700 the previous year. These 'nudge letters' encourage voluntary compliance to avoid penalties.
T3 financial crime unit reaches $300 million in frozen assets
The T3 Financial Crime Unit, backed by Tether, Tron, and TRM Labs, has frozen $300 million in tainted funds in its first year. Launched to address stablecoin activity on Tron, the initiative has gained global recognition for combating financial crimes. It highlights industry-led efforts in blockchain security through public-private collaborations.