Chilean regulators revoke the license of a cryptocurrency platform linked to Venezuelan gangs and order the return of customer funds.
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The Hong Kong Securities and Futures Professionals Association met with regulators to discuss issues related to the operating costs of virtual asset platforms.
According to Foresight News , the Hong Kong Securities and Futures Professionals Association (HKSFPA) held a meeting on July 3 with Mr. Chan Ho-lim, Under Secretary for Financial Services and the Treasury, the secretaries-general, Mr. Yip Chi-hang, Executive Director of the Intermediaries Division of the Securities and Futures Commission, Ms. To Yee-wah, Senior Director, and Ms. Wong Lok-yan, Director and Head of the Fintech Group, to discuss issues such as new policies on virtual assets, licensing system and operating costs. At the meeting, the Hong Kong Securities and Futures Professionals Association highlighted the high operating cost pressures currently faced by Virtual Asset Platforms (VATP), including the monopoly of Hardware Security Module (HSM) supply, restrictions on the ratio of cold and hot wallets, excessively high insurance coverage requirements, and on-chain transaction miner fees. They urged regulators to flexibly adjust relevant requirements while ensuring risk control. Furthermore, both sides exchanged views on issues such as the delineation of regulatory boundaries, license approval efficiency, timelines for approving innovative products, and the division of regulatory responsibilities for VA Payments.
Gate has been recognized as one of the best MiCA-licensed trading platforms in 2026, continuing to strengthen its European compliance advantages.
According to BeInCrypto's latest Odaily, Gate has been selected as one of the "Best MiCA-Licensed Crypto Platforms in 2026" and awarded "Best for Access to a Large Cryptocurrency Selection." The rankings indicate that Gate offers a diversified digital asset ecosystem encompassing spot trading, contracts, wealth management, and Web3 services, and provides European users with a more comprehensive digital asset trading experience thanks to its extensive asset coverage and product portfolio. With the official end of the transition period for the EU's Crypto Asset Market Regulation (MiCA), the European digital asset market has fully entered an era of unified regulation. Gate Europe had previously taken the lead in obtaining both an EU MiCA license and a Payment Institution (PI) license. These two important regulatory qualifications provide a solid foundation for Gate Europe to conduct business under the European regulatory framework and further strengthen the platform's capabilities in compliant operations, risk management, and long-term development. This recognition from a well-known industry media outlet further demonstrates Gate's positive progress in promoting compliance and continuously optimizing its products and services in Europe. Gate's founder and CEO, Dr. Han, stated that the formal implementation of MiCA signifies the end of the era of "regulatory arbitrage" in the European crypto industry, and market competition will increasingly focus on product, security, and user experience. His views were also reprinted by Cointelegraph, further reflecting the industry's widespread attention to the new era of European regulation. Currently, multiple entities under Gate have completed relevant regulatory registrations, license applications, or obtained authorizations and approvals in jurisdictions such as Malta, the Bahamas, Japan, the United States, Australia, and Dubai, solidifying their global business foundation through multi-regional regulatory licenses and registrations. The platform continues to advance its global compliance strategy and constantly improve its global compliance network to provide users with safer, more transparent, and more efficient digital asset services.
Dutch prosecutors have filed for bankruptcy against cryptocurrency platform Knaken and seized its assets in a criminal investigation.
According to official reports, the Dutch Public Prosecutor's Office (OM) has filed for bankruptcy proceedings against the cryptocurrency exchange Knaken Cryptohandel B.V. and its subsidiary Stichting Knaken Payments with the Rotterdam court. OM stated that the Dutch Financial Markets Authority (AFM) had previously warned that the platform was illegally providing cryptocurrency exchange and custody services without the necessary licenses. Although the platform claims to have ceased operations and is undergoing liquidation, it has currently stopped making payments to customers. OM is concerned that the liquidation process lacks order and may harm investors' interests, hence the bankruptcy filing, aiming to appoint a liquidator to take over and protect creditors' funds. Furthermore, based on the AFM's report, the Dutch Fiscal Intelligence and Investigation Service (FIOD) has launched a parallel investigation into the platform's alleged criminal activities. Law enforcement conducted multiple searches on June 29, seizing relevant digital storage devices and freezing some of the company's assets; no arrests have been made so far.
Swyftx has obtained an Australian financial services license and is seeking opportunities in the cryptocurrency payments sector.
According to Foresight News , citing Cointelegraph, Australian cryptocurrency exchange Swyftx has obtained an Australian financial services license, indicating its intention to explore opportunities in the cryptocurrency payments sector. The license allows Swyftx to offer derivatives such as cryptocurrency options or futures to retail customers and authorizes it to provide non-cash payment services, enabling the fintech company to offer payment services to both business and retail clients. Swyftx interim co-CEO Andrea Yuen stated that after obtaining a license to provide payment services, the company "will no longer be a pure cryptocurrency spot exchange." Swyftx does not currently hold an AFSL license for spot cryptocurrency trading.
Cryptocurrency financial institution Bitcoin Suisse obtains Abu Dhabi ADGM financial services license
Odaily Odaily reports that Bitcoin Suisse, a cryptocurrency financial services provider, announced that its subsidiary, BTCS (Middle East) Ltd., has received a Financial Services License (FSP) from the Abu Dhabi Global Markets (ADGM) Financial Services Regulatory Authority (FSRA). This license authorizes BTCS to provide regulated digital asset financial services, including custody, spot trading, and derivatives execution and hedging services, to qualified institutional and professional investors. (Businesswire)
Brazilian police have dismantled a cryptocurrency money laundering network linked to the PCC, involving nearly $2 billion.
According to Foresight News News, Brazilian federal police launched Operation "Exchange" on Friday, targeting a criminal organization linked to the First Capital Command (PCC), Brazil's Specially Designated Global Terrorist Group (SDGT). This organization is accused of using cryptocurrency and cash to launder money and transfer illicit funds from Florida to Brazil. The operation involved 50 police officers who executed 13 search and seizure warrants and 11 provisional arrest warrants at multiple locations in São Paulo state. Authorities estimate that the criminals laundered nearly $2 billion through this money laundering scheme, mixing peer-to-peer transactions, large bank transactions, and cash transactions. However, as the investigation is ongoing, it has not yet been determined whether any exchanges were involved. On July 1, two suspects, Victor Henrique de Oliveira Shimada and Stella Stefanie Nunes Henrique de Oliveira, who were suspected of involvement in the organization, were added to the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) sanctions list along with three Brazilian companies and one Portuguese company due to their affiliation with the First Capital Command (PCC).