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BTC $66,393.53 -0.62%
ETH $1,994.46 -1.25%
BNB $608.35 -1.28%
XRP $1.42 -4.56%
SOL $81.67 -4.53%
TRX $0.2795 -0.47%
DOGE $0.0974 -3.83%
ADA $0.2735 -4.22%
BCH $451.86 -6.46%
LINK $8.64 -2.97%
HYPE $28.98 -1.81%
AAVE $122.61 -3.42%
SUI $0.8440 -4.55%
XLM $0.1605 -4.62%
ZEC $260.31 -8.86%

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Supreme Court: The next step will focus on cracking down on crimes related to "money laundering" using virtual currencies and underground banks

According to the Shanghai Securities Journal, Wang Bin, the head of the Third Criminal Division of the Supreme People's Court, stated at a press conference on "The People's Court's Work on Punishing Telecom and Network Fraud and Property Crimes According to Law" that the next step will focus on cracking down on key figures and core members of criminal groups, "financial backers" of telecom fraud, "snakeheads" organizing illegal immigration, and organizations providing armed protection for cross-border fraud crimes, as well as violent crimes such as intentional homicide, intentional injury, and kidnapping committed during telecom fraud, and related crimes such as "money laundering" using virtual currencies and underground banks.Wang Bin also stated that the people's courts will legally strengthen the application of property penalties against telecom fraud criminals, preventing them from benefiting economically. They will guide those involved in "two-card" assistance and concealment of criminals to voluntarily compensate victims, consider the return of stolen goods and compensation as mitigating factors in sentencing for confession and remorse, and impose strict penalties according to law on criminals who have the ability but refuse to return stolen goods or compensate victims.

StarkWare CEO proposes a five-step action plan, calling for the crypto industry to address the potential threats of quantum computing

StarkWare CEO Eli Ben-Sasson spoke on X about the potential impact of quantum computing on the crypto industry, calling for a proactive deployment of post-quantum security upgrades across multi-chain ecosystems, including Bitcoin, and proposed a five-step action plan:Acknowledge the threat and clearly recognize that once quantum computers mature, they will pose a severe challenge to the existing public key cryptography system, and take decisive action to implement countermeasures.Enhance education and information dissemination, systematically learn about the current state of quantum computing development and feasible solutions in post-quantum cryptography (PQC), and spread relevant knowledge within the community to raise overall awareness.Organize and invest resources to support and collaborate with post-quantum cryptography experts, promote multiple research and engineering practices, and provide funding and community initiative support for related projects.Listen to expert advice and establish standards, with experts proposing specific technical routes, including the selection of new signature algorithm standards and the reasonable post-quantum security levels required for hash functions.Promote protocol and infrastructure upgrades, introduce new quantum-resistant signature mechanisms at the core protocol layer, and ensure compatibility and integration with key infrastructures such as wallets to ensure a smooth transition.
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