#fraud
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Crypto Should Be Regulated as Gambling: Key Arguments
The Treasury Committee of the United Kingdom is advocating for the regulation of cryptocurrency trading akin to gambling. A new report from the bipartisan committee of deputies emphasizes that cryptocurrencies don't serve any useful social functions. They require a significant amount of energy to produce and their usage is closely linked to fraud and money laundering. Scammers Exploit Fame of Musk, CZ and Buterin in Texas Fraud Case
Amid the hype surrounding AI projects, there has been a surge in activity from crypto scammers promoting AI-related coins. The Texas State Securities Board, with the support of several other regulators, is cracking down on one such scheme. AI-Generated CEO Scams: Taking Crypto Fraud to the Next Level?
Crypto scam projects are getting more creative by the day. California's financial regulator has accused two firms of devising elaborate fraudulent schemes, complete with actors and AI to impersonate CEOs – talk about commitment to the con! Desist orders were issued against companies like Harvest Keeper, Visque Capital, and Maxpread Technologies. 
Blockchain technology has been used to pilot Brazil's digital real. Execution took place on the Stellar infrastructure of the local Mercado Bitcoin exchange.
The experiment included a KYC procedure, a fraud protection check using decentralized identity identification, and direct fund transfers.
All worked well, no violations of the country's laws were detected (thankfully, the tests had not yet been banned), though Mercado's head teased that the Central Bank's real motive was to see how things would unfold if it lost its direct control over money. 
Report a Fake Wallet and Earn a Reward
A Ukrainian startup called HAPI Labs, which specializes in developing cybersecurity tools for DeFi, has launched a project called Scamfari OSINT. It collects and analyzes information from open sources to identify cryptocurrency wallets associated with fraud, terrorist financing, or sanctions violations. White House report on crypto
The White House has recently published the 2023 Economic Report of the President, which says that cryptocurrencies do not have a fundamental value and are not a reliable substitute for traditional money. The report also highlights that digital assets are highly unstable and prone to fraud. Signature shareholders to sue the bank and its management
Signature shareholders have filed a class-action lawsuit against the bank and three of its former top executives — the chief executive officer, chief financial officer and chief operating officer. They are accused of fraud on the basis that the bank was financially sound just three days before the seizure by the state regulator. 
Ameen Soleimani, one of the first contributors to the scandalous Tornado Cash crypto mixer, has announced the launch of a new mixing service called Primacy Pools, which is based on the TC code.
Now, every hacker and criminal will have a chance to demonstrate that they are not engaging in any malicious activity (but not for sure). What is clear is that honest users will be able to prove that they have not committed fraud and are therefore legitimately using the privacy-enhancing service.
Predictably, the new service uses zero-knowledge proof, which is the main trend of 2023. It is a protocol that confirms information without disclosing it.
Your move, SEC! 
