The Hong Kong Securities and Futures Commission will collaborate with the police and licensed institutions to use a 24/7 stop-payment mechanism to freeze funds involved in cryptocurrency scams.

U.S. OCC Sets Draft Framework for Stablecoin Issuers Under GENIUS Act Framework

OCC draft sets federal rules for stablecoin issuers and custody services, focusing on safety and regulatory compliance. Proposal excludes AML and sanctions rules, leaving those areas for separate coordination with Treasury agencies. Framework marks initial step in multi-agency

Tether freezes $344 million in USDT on the Tron network: OFAC collaboration, two addresses implicated in sanctions evasion

According to a Decrypt 4/23 report, stablecoin issuer Tether froze two wallets on the Tron chain that day, totaling $344 million USDT—one of the largest single-instance freezing actions in Tether’s history. The entity coordinating the action did so in conjunction with the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) and U.S. law enforcement agencies. The two addresses were marked as allegedly involved in sanctions evasion, criminal networks, or other illegal activities. Two Tron addresses total $344 million USDT frozen Decrypt cites Tether data, saying that this freeze was concentrated on the Tron network, broken down into the following two transactions: Address (prefix) Frozen amount Chain TNiq9…QZH81 About $213 million USDT Tron

JPMorgan: DeFi hackers are increasingly common, and interest in compression mechanisms to address TVL stagnation is drawing capital into USDT

JPMorgan Chase’s report believes that DeFi continues to face ongoing vulnerabilities, cross-chain bridge and oracle attacks are frequent, causing TVL to stagnate and weakening institutional investors’ willingness to invest, with capital shifting to USDT that is traceable and can be frozen. The KelpDAO and Rhea Finance attacks reveal risk-management risks; centralized stablecoins and custodial solutions are more favored. In the long run, improving this will require going beyond insurance and governance. DeFi will not be able to return to the 2021 era of high TVL, and stablecoins will become even more concentrated.

BIS Report Warns Crypto Exchanges Becoming 'Shadow Banks' with Uninsured User Risk

Gate News message, April 23 — The Bank for International Settlements (BIS) released a report warning that crypto exchanges are increasingly providing bank-like services, including lending and yield products (Earn), but lack the regulatory oversight and deposit protections inherent in traditional

Tether Freezes $344M in USDT on Tron Blockchain in Coordination with OFAC

Gate News message, April 23 — Tether froze two large whale wallets on the Tron blockchain holding a combined $344 million in USDT on Wednesday in coordination with the U.S. Treasury's Office of Foreign Assets Control (OFAC) and U.S. law enforcement. The two addresses held approximately $131.3 millio

Tether Supports Freezing of $344M in USDT in Collaboration With U.S. Government

Gate News message, April 23 — Tether announced it has supported the U.S. government in freezing over $344 million in USDT across two wallet addresses. The action was coordinated by the U.S. Department of Treasury's Office of Foreign Assets Control (OFAC) and U.S. law enforcement agencies to prevent