At the Bitcoin Asia 2025 conference in Hong Kong, Eric Trump characterized China as “an absolute power in this space,” remarks delivered during a public Q&A that addressed comparisons between
Massive Bitcoin transfers totaling 21,603 BTC were moved between anonymous blockchain wallets, spotted by Whale Alert and reported across social channels. These large on‑chain moves total nearly $2.5 billion and
Ongoing negotiations between the European Union and the United States continue to shape expectations in financial markets. Among the most notable proposals is the EU’s consideration of removing tariffs on US industrial goods to meet President Donald Trump’s demands. While the development itself lies within the realm of trade policy, some within the cryptocurrency sector are already weighing the potential implications for digital assets. What Does This Mean for XRP? Levi Rietveld, founder of Crypto Crusaders, recently shared his view on how these global economic adjustments could intersect with cryptocurrency adoption. In a video posted to his audience on X, he argued that the combination of tariff reductions and changes to monetary policy could result in a more favorable environment for crypto investors. He stated that “the EU is proposing to remove all tariffs on US industrial goods to meet President Trump’s demands,” emphasizing how this decision could reshape trade flows. For Rietveld, the relevance extends beyond traditional industries , as it may influence the liquidity available to businesses and individuals. In his analysis, he noted that lower trade barriers, when coupled with central banks reducing interest rates , would allow more capital to circulate. He explained that “if we have a point in time where we drastically reduce tariffs and we’re also cutting interest rates from the banks, it’s going to allow a lot more liquidity to come into the hands of business owners and retail investors like you and me.” This, in his view, strengthens the investment case for digital assets. LISTEN CLOSELY #XRP HOLDERS!!! pic.twitter.com/OBUTrcqFQE — Levi | Crypto Crusaders (@LeviRietveld) August 28, 2025 We are on X, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) June 15, 2025 Impact on Cryptocurrencies Rietveld connected the dots between broader macroeconomic shifts and the performance of XRP and other leading cryptocurrencies. By pointing to the flow of liquidity, he suggested that greater access to capital would not remain confined to conventional investments. Instead, he believes investors are increasingly open to allocating funds to blockchain-based assets. Rietveld recently advised everyone to accumulate XRP . The reasoning rests on the idea that reduced costs of trade and borrowing open up new opportunities for both businesses and individuals. With higher liquidity, market participants could be more willing to seek exposure to assets that sit outside the traditional financial system. Rietveld maintained that XRP, alongside other established cryptocurrencies, stands to profit from such a shift. Many of Donald Trump’s actions and policies have benefited XRP and the broader crypto landscape, and the next few months could bring even more profit into the market. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on X , Facebook , Telegram , and Google News The post Market Strategist Says Listen Closely XRP Holders. Here’s why appeared first on Times Tabloid .
US financial institutions processed $312 billion in suspicious transactions linked to Chinese money laundering networks between January 2020 and December 2024, according to a new FinCEN analysis of 137,153 Bank Secrecy Act reports. These surprisingly unexpected big figures emerge as crypto exchanges face intensified regulatory scrutiny for money laundering, despite traditional banking systems handling vastly larger volumes of illicit funds. FinCEN has issued an Advisory and Financial Trend Analysis raising the alarm on Chinese money laundering networks, which pose a significant threat to the U.S. financial system. https://t.co/QejJmzQaYw — Financial Crimes Enforcement Network (FinCEN) (@FinCENnews) August 28, 2025 Chinese money laundering networks have established sophisticated partnerships with Mexico-based drug cartels, exploiting currency restrictions in both countries. Mexican currency laws prevent large dollar deposits in local banks, while China’s currency controls limit overseas transfers by its citizens. This regulatory gap allows cartels to sell illicit dollars to Chinese nationals seeking to circumvent Beijing’s capital controls. The networks extend beyond drug trafficking into human trafficking, healthcare fraud, and real estate purchases worth $53.7 billion in suspicious activity. FinCEN identified 1,675 reports involving human trafficking and 43 reports covering $766 million in suspicious adult day care center activity in New York alone. Banks Handle Bulk of Criminal Money While Crypto Faces Heat Banks accounted for $246 billion of the total suspicious transactions, while money service businesses handled $42 billion and securities firms processed $23 billion. The average annual flow through US banking systems reached $62 billion from Chinese money laundering operations alone. Historical cases reveal systematic banking vulnerabilities to criminal exploitation. Wachovia Bank laundered $350 billion for Mexican drug cartels between 2007 and 2010, receiving only a $160 million penalty despite the massive scale. Danske Bank processed $228 billion in suspicious transactions from Russia between 2007 and 2015, ignoring internal warnings throughout the period. Similarly, HSBC paid $1.9 billion in 2012 for allowing drug cartels to transfer hundreds of millions through accounts, with criminals using specially designed cash deposit boxes that fit perfectly into bank slots. TD Bank agreed to pay over $3 billion after prosecutors found the institution had been used to launder more than $470 million through Chinese networks in New York and New Jersey. In fact, dating back to 2021, the 1MDB scandal involved over $1 billion stolen through global banking networks, with funds used to purchase luxury real estate, yachts, and artwork across major cities. Bank of Credit and Commerce International laundered billions for drug cartels and corrupt governments before its 1991 closure forced stricter international banking regulations. Criminal organizations recruit bank employees as complicit insiders and use counterfeit Chinese passports to facilitate account openings. Money mules often report occupations as “student,” “housewife,” or “retired” during onboarding to explain large transaction volumes that are inconsistent with their stated professions. Regulators Target Crypto Despite Minimal Illicit Activity Share Cryptocurrency transactions represent ‘ less than 1% ’ of total money laundering activity globally, according to TRM Labs. In fact, Chainalysis data shows illicit crypto volumes totaled approximately $189 billion over five years, compared to over $2 trillion laundered annually through traditional financial systems worldwide. Source: Chainalysis Despite this disparity, regulators are intensifying their enforcement actions against crypto. Most recently, Binance Australia was required to appoint an external auditor within 28 days after AUSTRAC identified “serious concerns” with its anti-money laundering controls. French authorities have also launched investigations into Binance over alleged violations, while European regulators are considering penalties against OKX following $100 million in allegedly laundered funds. Australian enforcement expanded through systematic compliance reviews, with AUSTRAC targeting 13 remittance providers while investigating 50 additional platforms. The agency cancelled or refused renewals for nine providers that failed to comply with their obligations, contrasting sharply with the limited penalties imposed on the banking sector despite vastly larger suspicious transaction volumes. Senator Elizabeth Warren continues to demand tougher crypto regulations , stating, “Bad actors are increasingly turning to cryptocurrency to enable money laundering.” However, FinCEN data reveals that Chinese money laundering networks primarily operate through traditional banking channels rather than digital assets. Blockchain analytics firm Chainalysis reported illicit crypto transactions reached $51.3 billion in 2024, an 11.3% increase, but still representing a fraction of the $312 billion in suspicious banking transactions identified during the same period. The post US Banks Moved $312B in Chinese Drug Money, But Crypto Gets the Blame appeared first on Cryptonews .
All signs point towards ETH stepping into BTC’s spotlight.
Cryptocurrency asset interest continues to grow as traditional exchanges and altcoins compete for investor attention. Hyperliquid’s recent performance trumped well-known traditional exchanges in August, demonstrating how decentralized exchanges are creating fresh waves for themselves. In the meantime, coins like Dogecoin and Cardano retain robust user bases to be tapped, while new initiatives like Remittix (RTX) are generating buzz through presale success and utility-focused launches. Dogecoin, Cardano, Hyperliquid Trading Figures Reveal Divergent Trends Dogecoin trades at $0.2245 currently, a 2.47% rise over 24 hours. Its market cap is $33.82 billion, supported by an 18.47% rise to a $2.35 billion trading volume. Cardano is flat, trading at $0.8692 with a market cap of $31.06 billion, and its trading volume rose 17.26% to $1.37 billion. Hyperliquid, despite outpacing Robinhood in total August trading volume, is lower by a small margin on a daily basis. It stands at $48.69, a 1.68% decline, with a market cap of $16.25 billion and $334.54 million in volume, down 18.73%. The mixed performance of Dogecoin, Cardano, and Hyperliquid shows the way investors move between old meme coins, Layer 1 networks, and decentralized exchange tokens. Remittix Presale Growth And Beta Wallet Release While Dogecoin, Cardano, and Hyperliquid stay actively traded daily, Remittix is building long-term foundations. The token is $0.0987 per token, having raised over $21.9 million and sold more than 625 million tokens. Crossing the $20 million mark prompted its first officially confirmed BitMart listing, which brings more liquidity and availability to early adopters. The most powerful announcement is the Q3 2025 beta wallet release, a mobile-centric wallet supporting 40+ cryptos and 30+ fiat currencies. Featuring crypto-to-bank direct deposits, instant FX conversion, and low gas fees, the Remittix DeFi project is among the best crypto presale 2025 deals and up-and-coming altcoins to invest in. Why Remittix Is Gaining Momentum: Raised more than $21.9 million and sold over 625 million+ tokens Wallet beta launching Q3 2025 $250,000 Remittix Giveaway to boost interaction Cross-chain DeFi project that solves actual payment problems Dogecoin, Cardano, Hyperliquid performance shows how different parts of the digital asset space are doing. Meme coins continue to draw liquidity, decentralized exchanges are scaling up to match established platforms, and Layer 1 projects remain stable. Meanwhile, Remittix (RTX) continues to build momentum. Listed in presale at $0.0987, with a confirmed CEX listing and a practical everyday payment wallet, it stands out as one of the top new crypto projects. For both traditional investors and crypto newcomers, Remittix offers real-world utility that positions it for strong adoption in 2025 Discover the future of PayFi with Remittix by checking out their project here: Website: https://remittix.io/ Socials: https://linktr.ee/remittix $250,000 Giveaway: https://gleam.io/competitions/nz84L-250000-remittix-giveaway Disclaimer: This is a sponsored press release for informational purposes only. It does not reflect the views of Times Tabloid, nor is it intended to be used as legal, tax, investment, or financial advice. Times Tabloid is not responsible for any financial losses. The post Hyperliquid Does More Trading Volume Than Robinhood In August As Dogecoin & Cardano Holders Shift appeared first on Times Tabloid .
Galaxy Research has mapped out a concrete “express lane” for US crypto ETFs beyond Bitcoin and Ethereum—and, on its scorecard, XRP holds the cleanest path along Solana if the Securities and Exchange Commission adopts the newly proposed fast-track framework. XRP, SOL Or DOGE: Who Leads The ETF Fast-Track? The analysis hinges on a trio of listing tests advanced by Cboe BZX, Nasdaq and NYSE Arca in coordinated 19b-4 filings on July 30, which aim to replace today’s case-by-case approvals with standardized eligibility. Public comment periods closed on August 25; the initial SEC decision date is September 13, with a maximum outside date of March 27, 2026. “This… would substantially alleviate a major burden for an agency facing an overwhelming and ever-growing number of crypto ETP applications,” Galaxy writes, adding that it expects a decision “sooner than the latest possible deadline.” The proposed fast-track hinges on three objective conditions, any one of which would qualify a token’s ETF for expedited review: trading on a market that’s an Intermarket Surveillance Group (ISG) member; underpinning a futures contract that has traded on a designated contract market (DCM) for at least six months with surveillance-sharing; or, on an initial basis, having “an exchange-traded fund designed to provide economic exposure of no less than 40% of its net asset value” to the underlying asset listed on a national securities exchange. Galaxy underscores that the first prong (ISG for spot) currently captures only BTC and ETH, so near-term candidates will be sorted mainly by the regulated-futures and ≥40%-ETF-exposure prongs. On that framework, Solana and Dogecoin already clear Condition 2 today, Galaxy says, because each has been listed for more than six months on Coinbase Derivatives —a CFTC-regulated DCM with surveillance agreements—while XRP “will… reach [its] six-month seasoning” in October. In Galaxy’s words: “In total, 10 tokens meet the criteria for expedited listing: DOGE, BCH, LTC, LINK, XLM, AVAX, SHIB, DOT, SOL, and HBAR. Additionally, ADA and XRP will soon qualify because they will have been trading on a designated contract market (DCM) for six months after their initial listing date.” That timing distinction, by itself, places SOL and DOGE a step ahead of XRP on the futures-seasoning test. Crucially, Galaxy also argues that Solana and XRP may satisfy the third prong as well: “XRP and SOL may also qualify because they both have exchange-traded funds listed on a national exchange that provide ‘no less than 40% of their NAV’ to the underlying token. These are technically futures ETFs that track XRP and SOL contracts.” If the SEC accepts that interpretation, Solana would qualify under two independent routes (regulated-futures seasoning plus ≥40% ETF exposure), while Dogecoin would rely on the futures route alone and XRP would unlock both routes once its six-month DCM window matures. That dual-qualifier status is the core of Galaxy’s implicit pecking order. Issuers’ positioning reinforces the triage. In late June, Invesco and Galaxy formally entered the US race for a spot Solana ETF, giving SOL a well-resourced sponsor complex already embedded in the crypto ETP ecosystem. Meanwhile, Bloomberg’s ETF research desk has framed SOL, XRP and several others as high-probability approvals by end-2025 if a standardized regime is blessed. None of that guarantees sequencing, but it highlights that Solana pairs regulatory-criteria readiness with live filings from blue-chip issuers—an advantage that Dogecoin shares only in part and XRP will match once its DCM seasoning completes. Solana Has A Narrow Lead Galaxy’s bottom line is not a horse-race call so much as a rules-based shortlist. The firm notes that nine of the tokens that already qualify—or will imminently qualify—also have pending ETF applications , explicitly naming Dogecoin, Litecoin, Chainlink, Avalanche, Polkadot, Solana, Hedera, XRP and Cardano as “more likely to see ETF launches” if the rule is adopted. But between XRP, SOL and DOGE, the only asset that checks the six-month regulated-futures box today and plausibly the ≥40%-ETF-exposure box as well is Solana, making it the “fast-track favorite” under Galaxy’s framework. As the research cautions, final outcomes still depend on how the SEC interprets the ≥40% test and whether it accepts the exchanges’ plan to bolt on additional quantitative guardrails such as minimum US trading volume and market-cap thresholds. If the SEC moves quickly this autumn, the market could see the first non-BTC/ETH spot approvals as early as Q4, with sequencing likely to mirror today’s eligibility math. On Galaxy’s worksheet, that keeps Solana in pole position, Dogecoin close behind on the futures-seasoning lane, and XRP set to join the front row once its October clock ticks past six months. At press time, XRP traded at $2.91.
BitcoinWorld Vocal Image Unleashes Breakthrough AI Voice Coaching for Empowering Communication In the rapidly evolving digital landscape, where innovation often dictates success, the intersection of artificial intelligence and personal development is creating remarkable opportunities. For those familiar with the dynamic world of cryptocurrencies and blockchain, the spirit of disruptive innovation resonates deeply. Today, we delve into a compelling success story from Estonia, where AI voice coaching is transforming how people communicate, proving that cutting-edge technology can deliver profound personal benefits. Vocal Image: Empowering Communication with AI Estonia-based startup Vocal Image has emerged as a beacon in the EdTech sector, leveraging artificial intelligence to help individuals dramatically improve their voice and communication skills. With an impressive 4 million app downloads and a dedicated base of 160,000 active users, Vocal Image is not just another app; it’s a movement towards more confident and effective communication. The company’s mission is deeply embodied by its CEO, Nick Lakhoika, whose personal journey from struggling with speaking anxiety to becoming a successful pitch competition winner inspired the creation of this transformative platform. Lakhoika, who didn’t speak English until his relocation to Estonia, found his voice and now helps others find theirs. The genesis of Vocal Image lies in Lakhoika’s early experiences with unclear diction and insecurity. A chance encounter with vocal coach Maryna “Rusia” Shukiurava revealed that voice and communication are trainable skills. This revelation led them to start a YouTube channel, which eventually blossomed into the subscription-based Vocal Image app. The app positions itself as an accessible and affordable alternative to traditional one-on-one coaching, allowing users to practice in a safe, private environment. As Lakhoika aptly puts it, “You can make strange movements, strange sounds and feel safe.” Vocal Image’s interactive library is a treasure trove of resources, including: Tongue twisters to improve articulation. Breathing exercises for better voice control. Advice on gestures and body language for impactful presentations. The integration of AI, spearheaded by co-founder and CTO Mikalai Karaliou, is central to the app’s efficacy, providing automated feedback and personalized tips. These guided journeys are tailored to a variety of goals, from enhancing professional and leadership skills to developing public speaking and presentation abilities. Beyond professional development, Vocal Image also champions self-confidence and supports LGBTQ+ individuals, reflecting the founders’ commitment to inclusivity, a value Maryna Shukiurava actively supported in Belarus. Unlocking Your Potential: The Power of AI Voice Coaching The true power of AI voice coaching lies in its ability to offer personalized, immediate, and non-judgmental feedback. Unlike human coaches, an AI system can analyze vast amounts of data from a user’s voice in real-time, identifying subtle nuances in tone, pace, pitch, and clarity. This allows Vocal Image to provide highly specific recommendations that cater to individual needs. For instance, if a user tends to speak too quickly, the AI can detect this and suggest exercises to slow down and articulate more clearly. This constant, data-driven feedback loop accelerates learning and skill development. The founders, hailing from Belarus, were among many entrepreneurs who sought new opportunities after political unrest in their home country. Lakhoika chose Estonia for its thriving business environment, a decision that has paid dividends. Shortly after relocating to Tallinn, Vocal Image joined the local accelerator Startup Wise Guys, quickly becoming one of their “success stories.” This rapid growth underscores the market’s demand for effective communication solutions and the potential of AI to deliver them at scale. Startup Funding Fuels Global Expansion The journey of any successful tech venture is often marked by strategic investments, and Vocal Image’s trajectory is no different. The startup initially achieved remarkable financial milestones on minimal capital, reaching $6.5 million in annual recurring revenue (ARR) on less than $1 million in pre-seed funding. This capital efficiency is a testament to the strong product-market fit and the team’s execution capabilities. More recently, Vocal Image successfully closed a significant $3.6 million seed round. This crucial injection of startup funding was led by French edtech VC firm Educapital, with additional participation from Estonia’s Specialist VC and Germany’s Generations Fund. This diverse investor base highlights the international recognition of Vocal Image’s potential and its innovative approach to voice technology. As of August, the company proudly claims $12 million in ARR and approximately 50,000 paid users, demonstrating sustained growth and market penetration. With a lean team of 20, predominantly Belarusian exiles, Vocal Image is now poised for further expansion. The new funding will be instrumental in growing its development team and deploying more localizations, adding to its current offerings in English, Spanish, German, French, Ukrainian, and Russian. This strategic move will enable Vocal Image to reach a broader global audience, making its powerful AI voice coaching accessible to even more individuals worldwide. Mastering Communication Skills with Technology In today’s interconnected world, strong communication skills are more critical than ever. Whether it’s for a virtual meeting, a public presentation, or simply expressing oneself clearly in daily interactions, the ability to articulate thoughts effectively can be a game-changer. Vocal Image provides a structured, technologically advanced pathway to achieving this mastery. The app’s exercises are designed to address common communication challenges, from mumbling and hesitant speech to monotone delivery and lack of vocal projection. Vocal Image’s unique advantage lies in its GDPR-compliant AI trove. The platform has amassed an astounding dataset of over 1 million real-voice samples, with approximately 35,000 new recordings added daily. What makes this dataset particularly valuable is its community-driven labeling through “Voice Rating.” This collaborative feature allows users to provide feedback on others’ voices, categorizing them as “confident,” “childlike,” or other descriptive terms. This human-validated data is crucial for fine-tuning the AI’s accuracy and personalization capabilities, ensuring that the feedback provided is not only automated but also highly relevant and effective. This rich, labeled dataset also positions Vocal Image for future opportunities beyond its direct-to-consumer (B2C) roots. The ability to fine-tune artificial voices with such a comprehensive and diverse collection of human speech could create significant tailwinds, potentially extending its influence into areas like AI voice synthesis, virtual assistants, and other voice technology applications. The EdTech AI Revolution: Vocal Image’s Competitive Edge The landscape of EdTech AI is becoming increasingly competitive, with new players constantly emerging. For example, edtech company Headway recently introduced an AI-powered speech trainer to its social skills app, Skillsta. However, Vocal Image maintains a distinct competitive edge, primarily due to its specialized focus and proprietary data. While others might offer speech training as an add-on, Vocal Image’s core mission is centered on comprehensive voice and communication improvement, supported by years of dedicated development and a unique, continuously growing dataset. The company’s recent recognition as one of the five winners of the European AI Startup Program, co-sponsored by Hugging Face, Meta, and Scaleway, further validates its innovative approach and technological prowess. This accolade, combined with substantial funding and a rapidly expanding user base, positions Vocal Image as a frontrunner in the EdTech AI space. By focusing on a specific, high-impact problem – effective human communication – and solving it with advanced, ethically sourced AI, Vocal Image is not just participating in the EdTech revolution; it’s helping to define it. In conclusion, Vocal Image represents a compelling example of how AI can be harnessed for profound personal and professional development. From its humble beginnings rooted in a personal struggle to its current status as a rapidly growing, well-funded startup, Vocal Image demonstrates the power of technology to unlock human potential. By making sophisticated AI voice coaching accessible and affordable, the company is empowering individuals worldwide to speak with confidence, clarity, and impact. Its unique data assets and dedicated focus on communication skills ensure its continued relevance and leadership in the evolving EdTech AI landscape. To learn more about the latest AI market trends, explore our article on key developments shaping AI models features, institutional adoption, etc. This post Vocal Image Unleashes Breakthrough AI Voice Coaching for Empowering Communication first appeared on BitcoinWorld and is written by Editorial Team
After the market crash, the Dogecoin price suffered a decline to $0.2, which presented as a perfect opportunity for whales to get back in action. With the momentum rising for the meme coin, there are a number of factors that have been presented that suggest the price could more than double soon. Pseudonymous crypto analyst ProjectSyndicate highlights these catalysts in an analysis, showing what will drive the Dogecoin price to new yearly peaks. But First, A Retest Of The Reload Zone? Just like other digital assets in the space, Dogecoin features a low reload zone with lots of support that the price could retest before moving upward. In this case, the reload zone lies as low as $0.15, meaning that a failure to continue the uptrend could lead to a retest of this zone. Related Reading: XRP Price Holds Macro Consolidation Zone, Wave 3 Surge Could Send Price To $5 So far, the Dogecoin price has managed to escape testing this zone as the bulls continue to hold support. Initial support featured heavily above the $0.22 level. However, as bears have put pressure on this level with notable sell-offs, support above $0.2 remains the major zone. As the crypto analyst explains, the $0.15-$016 zone is the bottom of the Dogecoin accumulation range. It means that a breakdown from here would likely touch this level, making it the ideal spot to start getting into position before the Dogecoin price takes off again. Catalysts To Drive Dogecoin Price To New Peaks Outside of the reload zone, there are a number of factors that have positioned Dogecoin for a possible strong bullish move. The first here is the accumulation that has followed the price correction. So far, whales have been buying DOGE, marked by major withdrawals from exchanges. Another catalyst is the expectation of a Dogecoin ETF. So far, multiple firms have filed for a Dogecoin ETF, but none have been approved as the SEC continues to postpone its decision. But if an approval does come through, then the significant institutional inflow could drive the price higher. Related Reading: XRP Holds Golden Retrace At $2.90: Wave 3 Breakout To $5.4 In Sight The analyst also points to the DogeOS launch that allows Dogecoin users to take advantage of decentralized finance on the Ethereum network. This is another utility that has boosted Dogecoin’s popularity among investors and could help to prop up its price. On the technical side, the Dogecoin price is also throwing out bullish prospects, with a Golden Cross forming after the 50-Day Moving Average crossed the 200-Day Moving Average. Golden Crosses have often preceded strong bullish moves, and this time is expected to be no different. From here, the Dogecoin price simply has to hold above $0.15-$0.16, even in the case of a crash. If bulls can maintain this level, then the analyst expects price to reclaim $0.25, with the possibility of further upside to $0.34-$0.40, before expanding toward $0.55. Featured image from Dall.E, chart from TradingView.com
The money was funneled through partnerships with Mexican cartels and linked to schemes ranging from drug trafficking to $53.7 billion in suspicious real estate deals. Despite this, crypto faces disproportionate scrutiny from lawmakers like Elizabeth Warren, even though illicit crypto activity accounts for less than 1% of transactions. At the same time, the CFTC is rolling out Nasdaq’s surveillance technology to monitor insider trading and manipulation in crypto markets, while the Treasury explores identity-embedded smart contracts in DeFi. Supporters say these measures protect markets, but critics warn they risk undermining decentralization and creating a digital surveillance state. Banks Exposed But Crypto in the Crosshairs A new report from the US Financial Crimes Enforcement Network (FinCEN) revealed that American banks were responsible for laundering an estimated $312 billion for Chinese money laundering networks between 2020 and 2024. The advisory was released on Thursday, and it analyzed more than 137,000 Bank Secrecy Act reports covering the four-year period and found that an average of over $62 billion per year flowed through the US banking system from Chinese criminal organizations. These networks have become closely intertwined with Mexico-based drug cartels, and they formed a mutually beneficial relationship: cartels need to clean their US dollar drug proceeds, while Chinese gangs seek access to US dollars to evade China’s strict currency controls. According to FinCEN Director Andrea Gacki, these networks are not only laundering drug money but are also deeply involved in a range of other criminal schemes, including human trafficking, healthcare fraud, elder abuse, and smuggling. They have also been linked to suspicious real estate transactions worth $53.7 billion. This scale of illicit activity proves just how traditional banking systems are still at the heart of global money laundering operations as they provide a shadow financial infrastructure that organized crime syndicates exploit worldwide. FinCEN advisory Despite these revelations, cryptocurrencies have been unfairly targeted as a primary enabler of money laundering. Politicians like Elizabeth Warren repeatedly pushed for stricter regulations on crypto by claiming bad actors are increasingly using digital assets for illicit purposes. However, the numbers suggest a different reality. While the United Nations Office on Drugs and Crime estimates that more than $2 trillion is laundered globally every year, the entire crypto sector’s illicit volumes totaled just $189 billion over the past five years, according to Chainalysis . This figure is less than 1% of total crypto activity. A similar conclusion was reached by TRM Labs’ Angela Ang, who pointed out that FinCEN’s findings shed some light on how entrenched and expansive underground banking networks are compared to the relatively minor role of crypto in global money laundering. The report offers a stark reminder that while crypto often faces political scrutiny, the bulk of illicit financial activity continues to thrive in traditional banking systems. CFTC Taps Nasdaq to Watch Crypto Markets Regulators are also making it a top priority to make crypto safer. The Commodity Futures Trading Commission (CFTC) is adopting a new financial surveillance tool that was developed by Nasdaq to replace its outdated 1990s-era infrastructure. The system is designed to detect market abuse like insider trading and manipulation, and will also be applied to cryptocurrency markets. Tony Sio, Nasdaq’s head of regulatory strategy and innovation, explained that the software relies on tailored algorithms that can spot patterns specific to digital asset markets. It offers real-time analysis of order book data across crypto trading venues and provides cross-market analytics that link activities between traditional and digital asset markets. The CFTC will feed the system data gathered through its regulatory authority to improve oversight and enforcement. Announcement from the CFTC Supporters argue that tools like these are vital to preventing financial crime and ensuring the integrity of markets. On the other hand, critics warn that they risk creating a digital surveillance state. Privacy advocates in the crypto industry caution that such measures could undermine the open, permissionless nature of blockchain-based finance. Concerns are especially pronounced in the decentralized finance (DeFi) sector, where the US Treasury Department is considering requiring embedded digital identification checks in smart contracts as part of new anti-money laundering measures. The proposal follows directives in the White House’s July crypto report, which called for stronger tax enforcement, revised market structures, and new identity standards. Among the recommendations were updated Know Your Customer rules for digital assets, as well as revisions to existing National Institute of Standards and Technology (NIST) digital identity guidelines. Recommendations from the White House report These potential requirements attracted criticism from people in the industry who believe they could fundamentally alter DeFi. Mamadou Kwidjim Toure , CEO of investment platform Ubuntu Tribe, believes that embedding government-approved identity credentials into decentralized protocols will erode the neutrality and openness that define them.