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Operation Veil of Maya: Brazilian Police Dismantle Massive Illegal Betting and Crypto Money Laundering Ring

With information from the Ministry of Finance and the Prizes and Betting Secretariat (SPA), the Police executed nine search warrants in São Paulo, Ribeirão Preto, Porto Alegre, and Canoas, targeting…

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Russia Drops Wallet Reporting From Its Final Crypto Bill: Here’s What the Law Now Says

Russia’s State Duma Financial Markets Committee has approved the final version of the country’s landmark crypto bill, dropping mandatory wallet-address reporting and clearing the way for a second reading. A…

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Judge Who Ruled XRP Not a Security in Ripple Case Hands Kalshi ‘A Major, Major Loss’ in New York

Judge Analisa Torres, best known for the SEC v. Ripple ruling, has denied Kalshi’s bid for a preliminary injunction against New York gaming regulators, finding the state’s gambling laws are…

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ESMA Warns Prediction Market Platforms Could Face Strict EU Financial Regulations

On July 3, ESMA issued a statement warning that some event contracts resembling binary options could fall under current derivatives regulation. The regulator stressed that firms offering these instruments should…

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Brazilian Federal Police Dismantle $2 Billion Crypto Money Laundering Ring Linked to the PCC Cartel

The operation, named “Exchange,” involved the participation of over 50 officers who executed 13 search and seizure warrants and 11 temporary arrest warrants in the state of Sao Paulo. The…

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$293B Bitcoin ‘Noah Doe’ Lawsuit Faces Major Test After First Wallet Holder Files Motion to Dismiss

A pseudonymous bitcoin holder has become the first named defendant to challenge New York’s closely watched lawsuit seeking ownership of roughly 3.8 million BTC, as another wallet named in the…

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Why Brazil’s Central Bank Wants to Classify Stablecoins as Electronic Monetary Instruments

In a Brazilian Congress hearing, Fábio Araújo, consultant for the Financial System Regulation Department (Denor), stressed that, unlike other crypto assets, stablecoins have specific traits that would be better regulated…

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Same Risk, Same Rules: Brazil to Regulate Crypto VASPs Like Traditional Securities Brokerages

The Brazilian central bank has now included VASPS under Type 3 classification, with the same requirements as brokerage and securities distribution firms. Furthermore, the rules passed exclude VASPs from receiving…

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