Hong Kong Customs seizes 300 crypto mining GPUs in anti-smuggling operation
Hong Kong Customs intercepted a large volume of pricey exotic foods, cosmetics and dedicated cryptocurrency mining GPUs in their latest successful anti-smuggling action. In the waters off Hong Kong International Authorities on April 2, Hong Kong Customs detected suspicious figures offloading cartons from a fishing boat to a nearby speedboat. While the men successfully fled, the authorities reportedly detained the fishing vessel and found there a large batch of apparently smuggled goods: everything from dried shark fins and cosmetics to electronics.Notably, among these goods — worth an....
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Turkey’s biggest bust against crypto mining smugglers resulted in the seizure of $600,000 worth of illegal Bitcoin ASIC miners and the detention of four suspects. Turkish customs enforcements brought down an illegal smuggling operation in what is said to be a record bust against illegal Bitcoin (BTC) mining equipment in the country. After receiving a tip, Turkey’s Customs Protection’s anti-smuggling and intelligence teams raided a warehouse earlier this week in Karabağlar, İzmir, where they found 501 ASIC Bitcoin mining rigs in closed cardboard boxes. Customs enforcement reported the....
According to a South China Morning Post report, Hong Kong customs officers have apprehended three individuals in connection with a massive HK$1.8 billion ($228 million) money-laundering operation that exploited a crypto platform and bank accounts associated with shell companies. The arrests were made following an investigation into suspicious activities involving “abnormally frequent” and large transactions […]
New legislation tailored to regulate the crypto space in Hong Kong aims to implement a licensing regime for crypto service providers. The respective changes to the region’s anti-money laundering (AML) rules have been submitted to its legislature while a recently published report examines relevant threats.
Hong Kong Lawmakers to Review Bill Aligning Crypto Sector With Financial Industry
Amendments designed to govern the cryptocurrency market in Hong Kong have been presented to the members of the Legislative Council of China’s special administrative region. The....
Cryptocurrency regulation in Hong Kong is undergoing changes. The Securities and Futures Commission (SFC) is reportedly introducing a new licensing system to regulate all crypto exchanges operating in Hong Kong. Hong Kong’s New Crypto Regulation The CEO of the SFC, Ashley Alder, talked about implementing a new cryptocurrency regulatory framework at Hong Kong Fintech Week on Tuesday. All cryptocurrency trading platforms operating in Hong Kong or targeting local investors will be required to apply for a license with the SFC, Radio Television Hong Kong (RTHK) reported. “Later....
Authorities in Hong Kong have arrested four people suspected of money laundering a total of $155 million through cryptocurrency wallets and bank accounts. The city’s customs agency said this was its first case in which virtual money had been used to launder dirty cash. Money Laundering Syndicate Recycles $155 Million in Crypto and Fiat Transactions The criminal group is believed to have processed illegal funds for a total of 1.2 billion Hong Kong dollars ($155 million), Hong Kong Customs announced Thursday. In an operation code-named “Coin Breaker,” officers detained the....