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The U.S. Department of Justice (DOJ) announced on March 21 that $7 million in proceeds from a cryptocurrency investment fraud scheme have been recovered and cleared through civil asset forfeiture. The announcement states: The United States has recovered and cleared title to $7 million of investment fraud proceeds using civil asset forfeiture. The United States will now begin the process of inviting the victims from whom those funds were stolen to submit petitions to have the funds remitted back to them. The announcement came after U.S. District Judge Rossie D. Alston Jr. approved a settlement between the U.S. and a foreign bank where the funds had been located. The DOJ’s complaint outlined how scammers relied on social engineering to gain the confidence of victims before presenting fraudulent cryptocurrency investment opportunities. “These websites were set up to mimic legitimate cryptocurrency investment platforms, but funneled victim funds to the perpetrators through over 75 bank accounts in the names of shell companies,” the authorities said. Victims were led to believe their investments were increasing in value, but in reality, the gains were fabricated. The DOJ noted: The sites falsely represented to the victims that their investments were making sizeable gains. However, when victims would attempt to make withdrawals, the perpetrators would coerce the victims to send even more money using tactics such as claiming the victims owed taxes on their purported profits. After laundering the funds through a complex series of domestic and international transactions, the perpetrators ultimately transferred the money overseas. In June 2023, the U.S. Secret Service seized funds from a foreign bank account, prompting the DOJ to file a civil forfeiture complaint. Following a claim by the foreign bank, a settlement was reached, resulting in $7 million being forfeited to the United States. 免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。

The long-standing litigation war between Ripple and the U.S. Securities and Exchange Commission (SEC) is yet to come to an end, with the regulatory agency recently dropping several high-profile crypto cases. The lengthy litigation has been subject to much speculation with some analysts pointing to the possible intention of Ripple to slow down settlement talks for a better deal. Lawyer James Murphy, who is also MetaLawMan on social media site X, has proposed that Ripple is in negotiations with the SEC to have major decisions in the case overturned. His thesis is based on Judge Analisa Torres’ ruling, which, although helpful in some ways, also convicted Ripple of breaking securities laws. The verdict was accompanied by some injunctions that may hamper Ripple’s future ability to make securities offerings or an IPO, as well as the increasing chances of an XRP ETF approval in 2025, as reported earlier. Murphy surmises that Ripple is using the ongoing process to negotiate for changes in the court’s conclusions prior to settling for a final settlement. “It’s highly possible that Ripple may be dragging out the lawsuit to try and buy more time to negotiate a better deal with the SEC,” he said. He feels the SEC would be amenable to a solution where both sides withdraw their appeals, and Ripple pays its $125 million fine. From his viewpoint, though, the party delaying is not the regulatory commission but Ripple. Conversely, attorney Fred Rispoli has a different opinion. He argues that the delay is on the part of the SEC and not Ripple. In earlier remarks, Rispoli intimated that the commission’s reluctance to seal the settlement could be due to internal issues regarding amending the financial penalty imposed on Ripple. Rispoli quoted SEC commissioners Mark Uyeda and Hester Peirce as not wanting to own the job of amending Ripple’s $125 million penalty. “My best guess is that, given the $125M judgment, that is real money that Uyeda and Pierce do not want to have responsibility for modifying,” he stated in an X post published on February 25. He went on to suggest that the delay might be the result of no desire to take an unpopular decision, which he characterized as an act of “cowardice.” Regardless of the disagreement on who is responsible for the delay, both legal analysts appear to concur on one point: the case is drawing to a close, as highlighted in our previous story. Murphy puts the possibility of the issue being resolved prior to April 16, the deadline for Ripple’s last appeal brief, while Rispoli anticipates a dismissal within the next few months.

Ripple submitted its response Friday to the U.S. Securities and Exchange Commission (SEC) Crypto Task Force, urging the agency to shift away from past enforcement-centric strategies and instead adopt clear, legally grounded guidance. The company criticized the SEC’s prior actions for generating uncertainty and misapplying securities law to digital assets. Ripple wrote: To state it even more plainly, the SEC lacks authority over most digital assets and, in turn, most transactions involving digital assets. The letter was signed by Stuart Alderoty, Chief Legal Officer; Sameer Dhond, Ripple General Counsel; and Deborah McCrimmon, Deputy General Counsel. Alderoty reinforced Ripple’s position on social media platform X, stating: “Today, Ripple submitted its response to Commissioner Hester Peirce’s Feb. 21 statement: ‘There must be some way out of here,’ calling for public input on crypto taxonomy rules. That Dylan lyric continues: ‘There’s too much confusion, I can’t get no relief.’ The prior administration thrived on confusion to mask its failure to follow the law. We urge the SEC’s Crypto Task Force to stay focused: return to first principles, stay within its statutory bounds, and finally bring relief through clarity.” Ripple praised recent SEC staff guidance on meme coins and proof-of-work mining, calling them concise examples of how the agency can provide effective oversight within existing legal frameworks. The crypto firm also addressed how decentralized finance functions should be viewed under federal securities laws. It argued that staking and yield mechanisms operating on public blockchains are materially different from securities. The letter states: There is an opportunity for the Commission to confirm now what is clear: arrangements for earning yield directly from the programmatic functioning of a public, permissionless network should not be considered securities. “Such arrangements do not involve an investment with a definable counterparty, unlike traditional securities, which are premised on a contractual agreement between an investor and an issuer who undertakes managerial efforts to generate profits,” Ripple emphasized. The firm reiterated its support for safe harbor provisions and regulatory sandboxes and noted that its submission follows the SEC’s decision to drop its appeal in the ongoing legal dispute involving Ripple and XRP. 免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。

As the world questions the integration of digital assets into state strategies, Russia takes a new step. It is considering transforming its seized crypto into an economic and social lever. A decision that raises eyebrows at the Bank of Russia! The proposal comes from Evgeny Masharov, an influential member of the Civic Chamber of Russia . Specifically, it aims to create a governmental fund intended to manage seized crypto assets within the framework of criminal proceedings. More precisely, they will be invested in social, educational, and environmental projects. According to local sources , several million dollars in crypto have already been confiscated in recent years without any clear rules dictating their allocation. Masharov’s idea thus aims to: The Governor of the Bank of Russia, Elvira Nabiullina, has just reafirmed her rejection of any public investment in crypto-assets. According to her: “Investing in cryptocurrency makes no sense for the central bank in terms of value preservation, as it is a very volatile asset.” This reluctance can be explained by: Yet, other signs show a gradual shift. One particularly refers to a pilot project . It already allows some wealthy investors to legally trade digital assets under regulatory supervision. The standoff between the Russian government (favoring a strategy for valorizing seized crypto) and the Bank of Russia illustrates the tensions surrounding crypto regulation in the country. Although controversial, the Russian initiative opens a new avenue for states seeking to frame and exploit crypto-assets derived from judicial confiscation. If the bill is passed, Russia could become the first country to officially integrate crypto as a strategic asset for the common good.

Farcaster rolls out 'blockchain-like' new data layer Snapchain Farcaster, an Optimism $OP-based decentralized social media protocol, has launched Snapchain, a “blockchain-like” new data layer for social networks, according to The Block. Farcaster co-founder Varun Srinivasan