The Shanghai Jing'an District People's Procuratorate has indicted a criminal gang that used virtual currencies for illegal foreign exchange arbitrage, operating under the guise of a private bank since 2019. The group processed over 200 million yuan in cross-border transfers for high-net-worth clients via USDT, earning 3% service fees. Nine suspects were arrested; five were sentenced to prison terms ranging from 2.5 to 6 years, with fines from 300,000 to 1.5 million yuan. The case highlights regulatory risks and legal consequences of using crypto for unauthorized forex activities.

Chainalysis推出《Blockchain Tracing Ontology》数据框架，旨在建立统一、透明、可验证的区块链分析标准，解决传统地址聚类结果不一致问题。该框架提出‘钱包片段’分层模型替代传统Cluster，并强调证据来源、推理过程与可信度等级，以提升链上分析在司法取证和合规场景中的可采性与互操作性。

据Lookonchain监测，巨鲸地址0xaeaa以20倍杠杆开设1100枚BTC（约6495万美元）空头仓位，清算价设定为67914.56美元。这一高杠杆空头操作可能对短期市场情绪产生影响，需关注后续价格波动及清算风险。

According to RootData, the crypto primary market recorded 42 financing and M&A events in June 2026, totaling approximately $898 million, a 60.5% decline month-over-month and 67.3% year-over-year. 15 M&A deals accounted for $305 million. Capital concentrated in DeFi (18 deals, $330M), infrastructure (13 deals, $453M), and CeFi (12 deals, including SBI Holdings' $289M acquisition of Bitbank). The top five projects alone accounted for 76% of total disclosed volume. Active investors include Coinbase Ventures, a16z, Pantera Capital, and others, favoring projects with clear institutional clients, compliance pathways, and real use cases.

The Shanghai Jing'an District People's Procuratorate recently indicted a cross-border illegal foreign exchange case involving over 200 million yuan (approx. $28 million) in virtual currency. The main defendant Li and four others were sentenced to prison terms from 2.5 to 6 years and fined. The case revealed that Company Z used a virtual currency 'knock-on' model, registering overseas and setting up offices in China, packaging itself as a 'private bank' to offer illegal forex services. No actual cross-border fund flows occurred; only offshore and onshore fund pools settled. The State Administration of Foreign Exchange discovered abnormal clues in July 2024, triggering a criminal investigation. Nine suspects have been arrested, two surrendered.

The Shanghai Jing'an District People's Procuratorate recently indicted a cross-border virtual currency illegal exchange case involving over 200 million yuan. Five defendants, including the main culprit Li, were sentenced to prison terms ranging from six to two and a half years, along with fines. The case utilized a 'correspondent' model where virtual coins were bought domestically and swapped for foreign currency abroad without actual cross-border fund flows. The State Administration of Foreign Exchange (SAFE) detected anomalies during routine monitoring and transferred the case to police via an administrative-criminal coordination mechanism. Nine suspects have been arrested, with one still under investigation. The case highlights the use of virtual currencies as a tool for illegal foreign exchange and the strengthened regulatory crackdown.

Shanghai Jing'an District Procuratorate has indicted a cross-border virtual currency illegal exchange case involving over 200 million yuan (approximately $28 million). Five main defendants, including Li, received prison sentences ranging from 2.5 to 6 years and fines between 300,000 and 1.5 million yuan. The scheme was orchestrated by Company Z, registered offshore in 2019, which used a 'private banking' facade and a fake crypto app to attract clients. Using a 'book-transfer' (duikang) method, the firm collected domestic clients' crypto into overseas wallets and settled fiat currency overseas without any actual cross-border fund flows. The State Administration of Foreign Exchange (SAFE) detected the anomaly in July 2024 and referred the case to police via the 'administrative-criminal linkage' mechanism. A total of nine suspects have been arrested; one mastermind remains under investigation. The case highlights the growing use of crypto assets in underground banking and underscores the need for stricter regulatory oversight.

The People's Procuratorate of Shanghai Jing'an District has indicted a cross-border virtual currency swap case involving over 200 million yuan (approximately $28 million). Five defendants, including the main culprit Li, were sentenced to prison terms ranging from six years to two years and six months, along with fines. The case was discovered by the State Administration of Foreign Exchange in July 2024 during routine monitoring, and was transferred to criminal authorities through the administrative-criminal coordination mechanism. Company Z, registered overseas in 2019, operated under the guise of a 'private bank' and used study-abroad and immigration intermediaries to funnel clients. The scheme involved clients purchasing virtual coins from OTC dealers, depositing them into Company Z's overseas wallets, and then converting them to foreign currency abroad. Company Z charged a 3% service fee and paid 0.5% commission to intermediaries. A total of nine individuals have been implicated, with one main suspect still under investigation.