Polygon’s POL token is seeing renewed momentum just a day before the Heimdall v2 mainnet upgrade, set for July 10. At press time, Polygon ( POL ) is trading at $0.2001, up 7% in the past 24 hours and 11% over the past week. Trading volume has jumped 71.4% to $92 million, with derivatives volume up 67.87% to $83.75 million, as per Coinglass data . Open interest has also climbed 10.98%, now standing at $98.7 million. These figures point to increased activity in both the spot and derivatives network. The upcoming upgrade marks a significant step in Polygon’s roadmap. Since Polygon proof-of-stake launched in 2020, Heimdall v2 has been “the most technically complex hard fork,” according to co-founder Sandeep Nailwal. It updates the consensus layer from Tendermint and Cosmos-SDK v0.37 to CometBFT and Cosmos-SDK v0.50. Shipping Announcement! 🚢 We’ve been on a shipping spree—and next up is Polygon PoS’s consensus layer, Heimdall v2, landing 10 July 2025. ‼️ This is the most technically complex hard-fork Polygon PoS has seen since it's launch in 2020 ‼️ What’s changing? 1. Heimdall sheds all… — Sandeep | CEO, Polygon Foundation (※,※) (@sandeepnailwal) July 8, 2025 Heimdall v2 also removes legacy code from 2018–2019, cutting technical debt and making the network easier to maintain. The new CometBFT consensus layer improves security, stability, and traceability, key features for applications in regulated sectors. You might also like: Polygon flips Ethereum in key metric: POL price eyes breakout The upgrade supports Polygon’s effort to scale PoS throughput to 1,000 transactions per second in July, with an eventual target of over 5,000 TPS by October via AggLayer . The mainnet upgrade is scheduled to take place between 2:00 PM and 5:00 PM UTC at block height 24,404,500. For post-fork compatibility, node operators have been instructed to switch to Heimdall v1.2.5 or fallback to version 1.2.4. Finality may lag by up to 3 hours during the migration, so dApps are encouraged to temporarily raise confirmation thresholds. The update was successfully deployed on the Amoy testnet on June 24, giving the team confidence that the transition would proceed smoothly. Two significant improvements that were tested include PIP-62 and PIP-44, which are focused on dependency handling and genesis state import. On the daily chart, POL is showing early signs of a breakout. The token has surpassed both the 20-day exponential moving average at $0.1686 and the 20-day simple moving average at $0.1823. The Bollinger Bands are starting to widen, suggesting increased volatility ahead. The intraday break of the upper band, which is at $0.1960, indicates upward momentum. POL price analysis. Credit: crypto.news At 56.78, the relative strength index is getting close to overbought territory but still has room to rise further. If bulls hold above the $0.196 resistance-turned-support, POL might retest the $0.22–$0.24 range. On the downside, the price might drop back to the lower Bollinger Band, which is at $0.168, if $0.19 is not held. Price action may still depend on network stability and the successful rollout on July 10th, even though technical indicators suggest a bullish outlook. Read more: Polygon co-founder Jordi Baylina revives zkEVM tech under new venture, Zisk
New Zealand will ban cryptocurrency ATMs and limit international cash transfers to $5,000 as part of new anti-money laundering reforms. According to Associate Justice Minister Nicole McKee, the reforms, unveiled on July 9, will “target criminals” by restricting their ability to convert large volumes of illgotten cash into crypto through virtual currency kiosks. In this regard, New Zealand will introduce a bill to enhance enforcement powers for police and regulators and to expand the capabilities of the Financial Intelligence Unit in tracking financial activity linked to persons of interest. “We want New Zealand to be one of the easiest places in the world to do legitimate business and one of the hardest for criminals to hide,” McKee said, adding that the overhaul would cut unnecessary red tape for low-risk entities while allowing regulators to focus their efforts on serious financial threats. Meanwhile, by capping international cash transfers to $5,000, regulators hope to limit how criminal groups move illicit funds offshore while preserving legitimate remittance options through electronic bank channels. You might also like: Crypto ATMs banned in Washington’s Spokane city as scam losses mount Authorities maintain that strengthening the AML/CFT framework is central to reducing the misuse of cryptocurrencies and cross-border cash flows. As of press time, New Zealand authorities have not provided a timeline for when these new measures would be enforced. Crypto ATMS, which enable cash purchases of digital currencies, have been identified as a key laundering tool in multiple reports. A 2024 report from New Zealand’s Ministerial Advisory Group on Transnational, Serious and Organised Crime found that criminals used these kiosks to send funds abroad “within minutes” to finance drug imports and scams. Concern over the misuse of crypto kiosks has been mounting among regulators worldwide. An FBI report linked crypto ATMs to $246 million in fraud-related losses across the U.S. in 2024, with over 11,000 complaints. Last month, Spokane, Washington, became the first city in the state to enact a full ban , giving operators 60 days to remove over 40 kiosks following a rise in fraud complaints. Officials said scammers frequently impersonated police or tax authorities to pressure victims into using the machines to transfer funds. Similarly, Nebraska passed the Controllable Electronic Record Fraud Prevention Act earlier this year, mandating state licensing for ATM operators, capping fees at 18%, and setting daily limits of $2,000 for new users. It also introduced mandates for kiosk operators to refund requirements for defrauded customers who report scams within 90 days. Australia’s financial intelligence agency, AUSTRAC, also moved to tighten oversight in June 2025, imposing a 5,000 Australian dollar cash cap per transaction, mandatory scam warnings, and enhanced customer due diligence obligations. Read more: Crypto ATM operators in Australia hit with cash limits and tougher compliance checks
BitcoinWorld Pioneering Bitcoin Service: Bow Valley Credit Union Transforms Crypto Banking in Canada In a groundbreaking move that signals a significant shift in the Canadian financial landscape, Bow Valley Credit Union (BVCU), a prominent financial institution based in Alberta, has unveiled the country’s first-ever “Bitcoin Gateway.” This innovative Bitcoin service empowers BVCU members to directly purchase Bitcoin (BTC) using Canadian dollars through their existing credit union accounts. This development, announced via a Business Wire press release, marks a pivotal moment for traditional financial institutions venturing into the world of digital assets. The initiative was brought to fruition through strategic collaborations with Balance, a leading BTC custodian, and Bull Bitcoin, an API provider known for its robust cryptocurrency solutions. This strategic integration by a Canadian credit union is not just a technological upgrade; it’s a bold statement about the future of finance, blending the reliability of conventional banking with the innovation of cryptocurrency. What Does This Revolutionary Bitcoin Service Entail? The core of BVCU’s new offering is its “Bitcoin Gateway,” a seamless integration that allows members to interact with Bitcoin without leaving their familiar banking environment. Traditionally, purchasing Bitcoin involved navigating third-party exchanges, often requiring separate accounts, verification processes, and transfers between banks and crypto platforms. BVCU’s solution simplifies this significantly, offering unparalleled convenience and security. Direct Account Access: Members can initiate Bitcoin purchases directly from their BVCU accounts, treating BTC much like any other investment product or currency exchange. Canadian Dollar Transactions: All transactions are conducted in Canadian dollars, eliminating the need for foreign exchange conversions often associated with international crypto platforms. Enhanced Security: By partnering with Balance, a regulated and trusted Bitcoin custodian, BVCU ensures that members’ digital assets are held securely, mitigating risks often associated with self-custody or less regulated exchanges. Simplified User Experience: The goal is to make acquiring Bitcoin as straightforward as paying a bill or transferring funds online, removing common barriers to entry for new crypto users. This initiative represents a significant step towards mainstream adoption of cryptocurrencies, especially for those who have been hesitant due to perceived complexities or security concerns. For a Bow Valley Credit Union member, it means embracing the future of finance with the confidence that their institution is leading the way. Why Is This a Game Changer for Canadian Credit Unions and Crypto Banking? BVCU’s pioneering move carries profound implications for the broader financial sector in Canada and beyond. It challenges the traditional reluctance of banks and credit unions to engage with cryptocurrencies, setting a precedent for how established financial institutions can adapt to the digital asset revolution. For Canadian credit unions, this opens a new frontier: First-Mover Advantage: BVCU has positioned itself as an innovator, potentially attracting new members who are keen on crypto but prefer the security and familiarity of a regulated financial institution. Meeting Member Demand: As interest in Bitcoin grows, credit unions face increasing pressure to offer relevant services. BVCU is directly addressing this demand, preventing members from seeking these services elsewhere. Regulatory Clarity: By working with partners like Balance and Bull Bitcoin, BVCU is navigating the complex regulatory landscape for crypto banking, potentially paving a clearer path for others to follow. Diversification of Services: Integrating Bitcoin allows credit unions to expand their service offerings, moving beyond traditional loans and deposits into the burgeoning digital asset space. This initiative demonstrates that traditional finance and digital assets are not mutually exclusive but can indeed converge to create a more comprehensive and user-friendly financial ecosystem. It’s a testament to the forward-thinking approach of Bow Valley Credit Union. Seamlessly Buy Bitcoin Canada: Benefits for Members The primary beneficiaries of BVCU’s new Bitcoin Gateway are its members. The service addresses several pain points associated with cryptocurrency acquisition, making it more accessible and secure for the average Canadian. Here’s how members stand to benefit: Unprecedented Convenience: No more linking external bank accounts to crypto exchanges or waiting for interbank transfers. The entire process to buy Bitcoin Canada is integrated within their existing banking interface. Enhanced Security and Trust: Members are dealing directly with their trusted credit union, which in turn partners with regulated entities like Balance for custody. This significantly reduces the risk of scams, hacks, or mismanaged funds often associated with less reputable platforms. Simplified Compliance: The credit union handles much of the regulatory compliance (KYC/AML), ensuring that transactions adhere to Canadian financial laws without burdening the individual member with complex procedures. Financial Inclusion: For individuals who might find standalone crypto exchanges intimidating, this integrated service provides a familiar and safe entry point into the digital asset economy. Access to Financial Innovation: Members can participate in the growing digital asset market, potentially diversifying their portfolios and exploring new investment opportunities with the backing of their financial institution. This strategic move by Bow Valley Credit Union is a clear signal that mainstream finance is ready to embrace the future, making it easier for Canadians to participate in the global Bitcoin economy. Challenges and Opportunities for Mainstream Crypto Banking Adoption While BVCU’s move is commendable, the path to widespread crypto banking integration is not without its challenges. These include regulatory hurdles, technological complexities, and the need for significant customer education. Challenges: Regulatory Uncertainty: Despite recent clarifications, the regulatory landscape for cryptocurrencies remains dynamic. Financial institutions must continuously adapt to evolving rules and guidelines. Technological Integration: Seamlessly integrating blockchain technology with legacy banking systems is a complex undertaking, requiring robust APIs, secure data management, and continuous maintenance. Security Risks: While BVCU mitigates this through a trusted custodian, managing digital assets inherently carries unique security risks, including cyberattacks and sophisticated scams. Customer Education: Many traditional banking customers may lack understanding of Bitcoin and its volatility. Credit unions must invest in educating their members to ensure responsible engagement. Market Volatility: Bitcoin’s price volatility can be a concern for conservative financial institutions and their members. Managing expectations and providing clear disclaimers are crucial. Opportunities: New Revenue Streams: Offering crypto services can unlock new fee-based revenue streams for credit unions. Competitive Differentiation: Being an early adopter provides a significant competitive edge, attracting tech-savvy younger demographics and existing members seeking modern financial solutions. Innovation Leadership: Institutions that embrace crypto position themselves as leaders in financial innovation, enhancing their brand reputation. Future-Proofing: As digital assets become more integral to the global economy, integrating them now prepares financial institutions for the future of finance. The decision by this Canadian credit union highlights a willingness to navigate these challenges for the immense opportunities that lie ahead in the realm of Bitcoin services. The Broader Landscape: Will Other Canadian Credit Unions Follow BVCU’s Lead? BVCU’s initiative sets a powerful precedent. The question now is whether other financial institutions, particularly other Canadian credit unions and even major banks, will follow suit. The pressure to innovate and cater to evolving customer demands is mounting. Several factors could influence this: Regulatory Comfort: As regulators provide clearer guidelines, more institutions will feel comfortable entering the space. Technological Partnerships: The availability of reliable and secure third-party solutions, like those provided by Balance and Bull Bitcoin, makes integration more feasible. Customer Demand: Increasing member inquiries and the desire to buy Bitcoin Canada easily will push institutions to act. Competitive Pressure: No financial institution wants to be left behind while competitors capture new market segments. This pioneering step by Bow Valley Credit Union could well be the spark that ignites a broader trend, making integrated crypto banking a standard offering across Canada’s financial sector. Actionable Insights: What This Means for You and the Future of Finance For individuals and institutions alike, BVCU’s Bitcoin Gateway offers valuable insights and potential pathways forward. For Individual Members: Explore the Service: If you are a BVCU member interested in Bitcoin, take advantage of this convenient and secure service to buy Bitcoin Canada. Educate Yourself: Even with simplified access, understanding Bitcoin’s fundamentals, risks, and potential rewards is crucial. Start Small: Consider starting with smaller amounts to get comfortable with the process and market dynamics. For Other Financial Institutions: Assess Demand: Gauge your members’ interest in cryptocurrency services. Research Partnerships: Explore collaborations with established crypto custodians and API providers to leverage their expertise and infrastructure for a secure Bitcoin service. Engage with Regulators: Proactively work with regulatory bodies to understand compliance requirements and contribute to shaping future policies for crypto banking. Prioritize Security: Any venture into crypto must put robust security measures and reliable custody solutions at the forefront. The move by Bow Valley Credit Union is a blueprint for how traditional finance can embrace innovation responsibly. The Future is Here: Bridging Traditional and Digital Finance The launch of BVCU’s Bitcoin Gateway is more than just a new product offering; it represents a significant step in the ongoing convergence of traditional finance and the decentralized world of cryptocurrencies. It signifies a future where accessing digital assets is as straightforward and secure as any other banking transaction. This integration enhances accessibility, reduces friction, and builds trust, which are critical for mainstream adoption of Bitcoin and other cryptocurrencies. As the digital economy continues to evolve, the ability of financial institutions to adapt and innovate will determine their relevance. BVCU has demonstrated remarkable foresight and courage in becoming the first Canadian credit union to offer such a direct Bitcoin service, setting a high bar for others to follow. This initiative paves the way for a more integrated, efficient, and accessible financial system for all Canadians. To learn more about the latest Bitcoin trends, explore our article on key developments shaping Bitcoin institutional adoption. This post Pioneering Bitcoin Service: Bow Valley Credit Union Transforms Crypto Banking in Canada first appeared on BitcoinWorld and is written by Editorial Team
GameSquare Holdings has unveiled a strategic $100 million investment in Ethereum, aiming to leverage DeFi opportunities for enhanced treasury yields. The partnership with Dialectic and deployment via the Medici platform
According to recent data from CryptoQuant, the average return for long-term Bitcoin holders has surged to an impressive 215%. This metric highlights the robust profitability experienced by investors maintaining extended
New York, US, July 8th, 2025, Chainwire Messari report shows Starboard registered over 5 million community actions for 20 projects including Sui in its first month Leading crypto analyst Messari today reports that InfoFi platform Starboard from web3 growth leader Galxe has captured millions of engagements in just one month since its launch. Since launch, Starboard has indexed over 150,000 posts, capturing 3.09 million likes, 1.18 million retweets, 1.05 million replies, and 167,105 quotes, amounting to more than 230 million total views. More than 20 projects joined the platform at launch, including Sui, 0G and Plume, collectively offering over $5 million in campaign rewards to drive early engagement. Within the first few weeks, thousands of users enrolled in various contributor campaigns. Sui’s campaign has led Starboard’s activity, with approximately 8,140 active participants tracked on its leaderboard. Other early adopters include 0G Labs with around 2,237 contributors and Plume with approximately 1,086. Each campaign is supported by a public leaderboard that updates in real-time. These project-specific rankings are further aggregated into the global leaderboard. Together, these tools provide a transparent system for surfacing top contributors and incentivizing sustained user participation. Commenting on Starboard’s initial growth, Galxe’s co-founder Charles Wayn, said: “More than visibility, the huge user engagement our 20+ registered projects are seeing indicates a significant volume of users actively engaging with projects via Starboard to promote their products and services in a meaningful way”. “It’s a real testament to the power and value of the emerging InfoFi sector and data driven user analytics that are allowing projects to advance and refine their growth strategies.” Starboard’s off-chain and on-chain data points are affording projects unique insights into their communities. Among these are the prominence of long-term contributors deeply engaged with specific ecosystems. For example, top contributors in the Plume Starboard are mostly RWA-focused users, and many of the active accounts in 0G have usernames that include “0G,” signaling strong community alignment. Messari’s full report available at www.messari.io About Galxe Galxe is web3’s leading growth platform, trusted by over 34 million users and more than 7,000 brands globally. Built on Gravity—Galxe’s ultra high-performance Layer 1 blockchain—the Galxe Platform unifies onboarding, identity verification, automation, and user engagement into one seamless experience. Industry leaders like Coinbase, Polygon, and Optimism rely on the Galxe Platform to grow and activate their communities and drive engagement across their ecosystems. By harmonizing fragmented tools into a single, unified web3 growth engine, Galxe enables industry leaders to build smarter, scale faster, and engage more effectively. Users can learn more at galxe.com . ContactRebecca JonesBlock3 PRrebecca@block3.pr Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
Despite selling pressure from whales, ADA continues to struggle in its attempt to reclaim the $1 level. According to data from crypto.news, Cardano ( ADA ) was trading at $0.58, marking a 6.6% gain over the past week that pushed its market cap over $21 billion. Despite this, the broader picture remains mixed with ADA still down 11.9% over the past 30 days and trading nearly 50% below its $1 peak from March 3. While bulls have attempted to revisit that level multiple times since, each effort has ultimately fallen short. Some market analysts view July as a potential turning point. With bullish sentiment slowly returning across the broader crypto market heading into Q3, attention has shifted to $0.70 as the next major resistance level. A successful breakout above that zone could open the door to a renewed push toward $1, particularly if macro conditions and liquidity flows continue to improve. One notable catalyst that could support renewed investor interest is Cardano’s expansion efforts beyond its traditional DeFi and staking focus. On July 8, the Cardano Foundation announced Reeve, a new enterprise-grade financial reporting platform built on the Cardano blockchain. Reeve allows institutions to publish tamper-proof financial data directly on-chain, offering a transparent and audit-ready solution that integrates with existing accounting systems. Such enterprise-focused developments could strengthen Cardano’s fundamental narrative, especially among institutional allocators eyeing scalable blockchain infrastructure. You might also like: Aevo unveils platform offering 1000x leverage on select stocks like MSTR and CRCL ADA price analysis From a technical standpoint, ADA has formed a falling wedge pattern on the daily chart, a formation that typically suggests a trend reversal is nearing. ADA price, MACD and RSI chart — July 9 | Source: crypto.news Supporting this outlook, momentum indicators such as MACD and RSI have both begun to trend upward, signaling a gradual shift in sentiment from selling to buying pressure. A confirmed breakout above the upper band of the wedge at $0.6053 would be the first bullish trigger. Should this occur, $0.73 emerges as the next key resistance, which represents a 25.8% upside from current levels. Still, this optimistic scenario hinges on ADA maintaining its critical support level at $0.54. A breakdown below this level could negate the bullish setup entirely. However, not all indicators are in the bulls’ favor. Whale wallets have reportedly offloaded over 170 million ADA in the past two weeks, according to data from Santiment, a move suggesting reduced confidence among large holders. This kind of smart money outflow typically indicates expectations of short-term weakness and may continue to act as a headwind for any short-term rally. Hence, unless bulls manage to reclaim control and flip $0.73 into support, a sustainable move toward $1 in the short term remains unlikely. Conversely, if ADA loses its grip on the $0.54 support zone, it could trigger a deeper pullback to $0.50 or even retest the wedge base near $0.44, where stronger buyer interest may eventually return. Read more: Coinbase launches $5M bug bounty on Cantina to secure Base and on-chain products Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Cronos (CRO) experienced a significant surge of over 20% following its inclusion in a proposed Trump Media-backed Blue Chip ETF, signaling renewed investor interest. The ETF filing with the SEC
U.S. authorities have charged two men for running a crypto investment scam that defrauded thousands of investors. According to an indictment unsealed on Monday, co-founders Michael Shannon Sims and Juan Carlos Reynoso launched the fake investment platform in 2019, ran the scheme for several years, and pulled in more than $650 million before it collapsed. Called OmegaPro, the platform promised investors up to 300% returns in 16 months, claiming elite traders were generating profits through forex markets. The funds were collected in crypto, moved through wallets controlled by insiders, and then quietly paid out to top promoters. To make the project appear legitimate and attract new investors, Sims and Reynoso held flashy events across Latin America, Europe, and the U.S. The pair promoted OmegaPro on social media with luxury cars and designer brands, and even projected the company’s logo onto the Burj Khalifa. You might also like: Australian woman faces 10-year ban over $9.6m crypto scam When the scheme started to collapse, the OmegaPro co-founders claimed it had suffered a network hack. Victims were told their funds were being moved to a new platform called Broker Group as part of restructuring efforts. In reality, withdrawals were cut off, and users lost access to their money on both platforms. Both men are now facing charges of wire fraud and money laundering, with a maximum sentence of 40 years in prison each if convicted. The case, which marks one of the largest crypto fraud indictments in recent years, comes as global financial authorities step up efforts to shut down digital asset scams. Just last week, the UK’s Financial Conduct Authority secured a combined 12-year prison sentence for two men behind a similar fraudulent scheme. In that case, the founders promoted fake crypto investment services, exploiting trust and bypassing regulatory safeguards. The scheme resulted in losses of about £1.5 million across multiple victims. Commenting on the OmegaPro crackdown, the head of the U.S. Justice Department’s Criminal Division said authorities will continue going after crypto fraud schemes that prey on investors. “We are leading efforts to combat these complex and insidious digital asset investor scams,” he said, adding that prosecutors remain committed to “pursuing justice for their many victims.” You might also like: DOJ credits Tether for aiding funds recovery from Trump-linked crypto scam
The US Treasury’s Office of Foreign Assets Control sanctioned North Korean cyber actor Song Kum Hyok. Song enabled strategies for IT workers to obtain jobs at firms by utilizing fictitious identities. Furthermore, OFAC sanctioned one person and four companies engaged in Russian scams. The DPRK’s military projects and financial operations are the targets of the actions. Song Kum Hyok targeted for facilitating fraudulent employment schemes Song Kum Hyok is a DPRK cyber actor who is associated with the sanctioned Andariel hacking group. The actor oversaw information technology employee cons that recruited DPRK nationals in Russia and China. Song provided the workers with false identities and nationalities to work for firms. The program took advantage of innocent businesses to make money for the DPRK government by fraudulent means. DPRK IT personnel occasionally infected business networks with malware for later exploitation. The personnel actively concealed their names, locations, and nationalities by using pseudonyms and supporting documents. In 2022 and 2023, Song used US persons’ information including names and social security numbers. The cyber actor created aliases for hired foreign workers using stolen personal data. Workers then used these accounts to pose as US persons seeking remote employment. Song planned to split income generated from these fraudulent employment arrangements with the workers. The scheme targeted employers in wealthier countries through mainstream freelance contracting and payment platforms. Applications developed by DPRK IT workers spanned business, health, fitness, social networking, and entertainment sectors. As per the press release details , DPRK maintains thousands of highly skilled IT workers globally, primarily located in China and Russia. These workers generate revenue that contributes to the regime’s weapons of mass destruction programs. The workers often take projects involving virtual currency and use crypto exchanges for fund management. Song faces designation under Executive Order 13694 for receiving funds through cyber-enabled means. The designation targets commercial advantage and private financial gain from misappropriated information and resources. Russian network contracts North Korean IT workers directly Gayk Asatryan is a Russian citizen who contracts North Korean IT personnel through Russian-based businesses. Asatryan and Korea Songkwang Trading General Corporation inked a 10-year agreement in the middle of 2024. The agreement allows dispatch of up to 30 DPRK IT workers to Russia for Asatryan Limited Liability Company. Asatryan also contracted with Korea Saenal Trading Corporation for additional worker deployment arrangements. According to the second deal, Fortuna Limited Liability Company would send 50 DPRK IT specialists to Russia. Both companies operate under Asatryan’s control to facilitate the worker placement schemes. OFAC designated Asatryan under Executive Order 13722 for attempting to export workers from North Korea. The designation targets revenue generation for the Government of North Korea and Workers’ Party. Asatryan LLC and Fortuna LLC face sanctions for being owned or controlled by Asatryan. Korea Songkwang Trading General Corporation received designation under Executive Order 13810 as North Korean persons. Korea Saenal Trading Corporation also faces sanctions for engaging in commercial activity generating regime revenue. Both DPRK companies facilitate the overseas deployment of IT workers through contractual arrangements. The network operates across multiple jurisdictions to obscure the true nature of employment relationships. Russian companies provide legal frameworks for DPRK worker deployment while maintaining plausible deniability. The arrangement allows North Korean workers to access international markets through Russian business entities. These contracts formalize what previously operated as informal worker placement schemes across international borders. The structured approach indicates increased sophistication in DPRK revenue generation efforts through legitimate business channels. Treasury targets revenue streams for weapons development programs The sanctions action is part of the US government efforts to counter DPRK strategic interests through cyber espionage. Deputy Secretary Michael Faulkender highlighted the importance of remaining vigilant against DPRK financing of weapons programs. US Treasury is dedicated to stopping attempts by the Kim dictatorship to use digital asset theft as a means of evading sanctions. The Lazarus Group, Bluenoroff, and Andariel were previously sanctioned by OFAC on September 13, 2019. The DPRK state-sponsored cyber groups are under the Reconnaissance General Bureau planning virtual currency thefts. The groups had masterminded numerous high-value cryptocurrency heists to mitigate US and multilateral sanctions impacts. The Technical Reconnaissance Bureau was sanctioned on May 23, 2023 for the development of offensive cyber capabilities. Its sub-unit cyber organization, the 110th Research Center, is also sanctioned for assisting DPRK activities. United Nations Security Council Resolution 2270 sanctioned the RGB in March 2016 for assistance in weapons development. All property and interests of blocked persons held in US custody must be blocked. Entities controlled by 50% or more of the blacklisted individuals are likewise blocked. US citizens are required by law to notify OFAC of any banned property. OFAC rules bar US persons from engaging in any transaction with blocked persons unless authorized properly. Offenses of sanctions by US persons can be criminal or civil in nature for foreign or domestic persons. Banks may face sanctions for transactions with listed persons. The end objective is centered on the delivery of positive behavioral adjustment instead of punishment. OFAC is empowered to delist individuals from the Specially Designated Nationals List as necessary. Integrity in sanctions stems from designation and delisting power under existing legal frameworks. KEY Difference Wire helps crypto brands break through and dominate headlines fast