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The Hang Seng Index in Hong Kong opened at 23,865.64 points, down 26.68 points, or 0.11%, on July 10 (Thursday); the Hang Seng Technology Index opened at 5,218.31 points, down 13.68 points, or 0.26%, on July 10 (Thursday); the CSI 300 Index opened at 8,588.74 points, down 8.53 points, or 0.1%, on July 10 (Thursday); the H-share Index opened at 4,110.46 points, up 1.88 points, or 0.05%, on July 10 (Thursday).Hang Seng Index futures opened down 0.07% at 23,866 points, 26 points below the spot price.Japans 20-year government bond yield fell 2.0 basis points to 2.490%.South Koreas central bank decided the interest rate at 2.5% on July 10, in line with expectations of 2.50% and the previous value of 2.50%.On July 10, an important panel in the U.S. Senate debated proposed digital asset regulation, with Republicans calling for a moderate approach and Democrats warning of potential loopholes and conflicts of interest. "Our job is to set clear, loose guardrails to protect investors, stop fraud, and allow responsible innovation to flourish," said Tim Scott, chairman of the Senate Banking Committee. He noted that legislation should clearly define which tokens are securities and ensure appropriate protection from illegal financing. Republican Senator Hagerty and others released market structure principles last month, calling for a clear definition of the legal status and regulatory agencies of digital assets. The plan is largely in line with the CLARITY Act proposed by the House Committee in June. Hagerty said he was not worried about losing bipartisan support for market structure legislation and predicted that Democrats who support stablecoin legislation would begin to act.

Dutch detain suspected developer of crypto mixer Tornado Cash

Jimmy Khan

Aug 15, 2022 14:31

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On Friday, Dutch officials announced the arrest of a 29-year-old man who is thought to be a developer for Tornado Cash, a cryptocurrency mixing service that the United States added to its list of entities subject to penalties this week.


Following charges that Tornado Cash was aiding in the concealment of billions in money movements, including those for North Korean hackers, the United States issued penalties on Monday.


The web solution enables concealment of the origin or destination of digital payments, therefore enhancing their anonymity.


One of the biggest cryptocurrency blending platforms that the U.S. Treasury has flagged as worrisome is Tornado Cash.


Tornado is believed to have laundered more than $7 billion in virtual currency since its creation in 2019, according to the Dutch Public Prosecutor's Office for Serious Fraud, Environmental Crime, and Asset Confiscation (FIOD).


When contacted for comment, Tornado Cash did not respond.


The unnamed guy, according to the FIOD, was detained on Wednesday in Amsterdam. He is suspected of having assisted in the facilitation of illegal activities, including "funds taken via hackers by a group thought to be affiliated with North Korea." He is accused of money laundering.


An inquiry into Tornado Cash was launched by the Financial Advanced Cyber Team branch of the FIOD in June, according to the statement. It was discovered that Tornado Cash has been used to hide significant illegal financial flows, particularly those resulting from online cryptocurrency thefts.

Prosecutors said that more arrests are not out of the question.


The action taken on Monday effectively banned Americans from engaging with the cryptocurrency mixer and frozen all U.S. assets of it.

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