CFTC

According to a report by Lianhe Zaobao, the Singapore Police Force announced that its Anti-Scam Command, in collaboration with the cryptocurrency platform StraitsX, conducted a joint enforcement operation from May 13 to 30 to combat money laundering activities involving cryptocurrencies. During the operation, the police seized over SGD 200,000 in cash. A total of 35 men and 14 women, aged between 18 and 58, are assisting with the investigation. Preliminary investigations indicate that these individuals are suspected of handing over cryptocurrency accounts or Singpass accounts they had opened to others in exchange for rewards ranging from SGD 400 to 3,000. The accounts in question are believed to have been used for money laundering. The police noted that most suspects were contacted by unknown individuals via Telegram or WhatsApp and handed over their personal information as instructed. The police emphasized that working with StraitsX, which is registered as a legitimate digital payment provider, helps leverage technological solutions to detect suspicious accounts and take swift action. Under Singapore’s Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act, assisting others in retaining criminal proceeds is punishable by up to three years’ imprisonment, a fine of SGD 50,000, or both. The police urge the public not to lend their bank or cryptocurrency accounts to others to avoid becoming involved in criminal cases.

Joseph Lubin, founder of ConsenSys, responded to user inquiries about whether MetaMask would issue a token by stating that ConsenSys has developed short-term and mid-term strategic plans, which involve the protocolization of existing products as well as several new projects. Given that Web3 protocols typically rely on tokens to operate, multiple protocols will gradually launch their own tokens in the future. Lubin revealed that the first to issue a token will be LINEA, and that subsequent protocols will also achieve coordinated development.