Satoshi Island, Thailand vs. Crypto, NFT Fraud + More News

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Satoshi Island The project aims to create a 32m2 area. ft (3 sq. km) private island into crypto haven, and announced that it had received endorsement from the Prime Minster of Vanuatu. The Prime Minister wrote that due to difficulties with COVID-19, “Vanuatu looks for innovative solutions to help grow [their] economy.”
Tech giant LG Electronics Korea JoongAng Daily reported that the company has added crypto, blockchain and medical devices to its corporate charter. A spokesperson for the company said so. They stated that their new goals include “the development, selling, and brokerage of blockchain-based software”
Data privacy solutions provider Meeco announced the launch of its Zero-Knowledge Proof (ZKP) Decentralised Identifier (DID) and token visualization tooling called Trustury on the Hedera (HBAR) blockchain, with the HBAR Foundation’s support. They stated that the solution is being developed in partnership with a variety of service providers in the Environmental, Social, and Governance market and that they welcome any participation from interested parties.

Bloomberg reported that Thailand will restrict the role played by commercial banks in the digital asset business to protect them against unforeseen risk. Bank of Thailand Assistant Governor Roong Mallikamas. As regulators increase their oversight, the central bank advised banks to limit their investments in digital assets, including crypto exchanges, at 3% of their capital.
The UK Financial Conduct Authority (FCA), reminded all regulated businesses that have exposure cryptoassets of their obligations. These obligations include customer transparency, registration with the watchdog as well prudential as custody considerations. They added that they’re working with international authorities on more crypto-related clarity and that they will also be engaging with industry participants to seek insights.

Two defendants were charged with conspiracy to commit wire fraud and conspiracy to commit money laundering, in a million-dollar scheme to defraud purchasers of NFTs advertised as “Frosties.” Ethan Nguyen and Andre Llacuna allegedly transferred around USD 1.1m to themselves in a “rug pull” scheme, and both charges carry up to 20 years in prison each.
Internet giant Google filed a trademark application for “Non-Fungible Planet,” an educational campaign aimed at “providing information in the areas of environmental protection, conservation, energy efficiency, climate change, reducing carbon footprints, environmental issues and sustainability efforts,” according to the filing. There is no clarification on whether the “non-fungible” part of its name has a direct correlation with non-fungible tokens.

Platform that is decentralized and not custodial ShapeShift DAO Validator for Web3 protocol information UMA Announced the strategic investment by Coinbase Ventures Chapter 1 in a “significant portion” of the ShapeShift DAO’s recently minted FOX Success Tokens, for a total of USD 625,000.

US, Manhattan court indicted Thomas Blackaller Spieker Jr. for operating a global money-laundering business that enabled at least seven criminal clients to use bitcoin (BTC) anonymously to hide and obscure their illegal proceeds. According to the press release, he converted more USD 2.3 million into BTC and more USD 380,000 worth BTC into USD between January 2018 & August 2021.
Gordon Brad Beckstead of Nevada admitted his involvement in laundering funds solicited for. BitClub Network A USD 722m fraud cryptoasset scheme, according to the US Department of Justice (DOJ), plead guilty to one count of conspiracy to commit money laundering, and one count aiding in preparation of a false return to tax.