Tag: cross-border

Law and Order

Bureaucratic Stalemate Keeps India on Sidelines as Stablecoin Race Heats Up in Asia

In brief Polygon’s Aishwary Gupta says no Indian government department wants ownership of stablecoin regulation, creating bureaucratic deadlock across agencies. Gupta estimates India could save $68 billion annually through stablecoin integration, but regulatory uncertainty prevents banks from acting. 80-85% of India’s top crypto talent has relocated internationally, Gupta said, while Asian neighbors advance clear stablecoin…

Law and Order

South Korea Busts Hacking Syndicate After Multi-Million Dollar Crypto Losses

In brief A hacking syndicate allegedly stole $28.1 million (₩39 billion) from financial and crypto accounts of 258 wealthy Koreans, including celebrities and top business executives. The largest single crypto theft reached $15.4 million (₩21.3 billion), though authorities haven’t specified what portion of the total losses was in crypto. The case exposes systematic vulnerabilities in…

Law and Order

1,200 Criminals Arrested in Crypto Clampdown: Interpol

In brief Interpol’s Operation Serengeti 2.0 resulted in arrests of over 1,200 cybercriminals across 18 African countries and the U.K., with $97.4 million confiscated. Angola dismantled 25 illegal crypto mining centers run by Chinese nationals, seizing $37 million worth of equipment and power stations. Zambian authorities broke up a massive online investment fraud scheme that…

Law and Order

‘Nothing Scary’ About Crypto, Federal Reserve Governor Says

In brief Federal Reserve Governor Christopher Waller said stablecoins have the potential to improve retail and cross-border payments. He acknowledged some fear and skepticism toward innovation in payments. The Fed is researching tokenization, he said. Using cryptocurrencies to facilitate ordinary payments should be no more intimidating than swiping a debit card, Federal Reserve Governor Christopher…