CoinScoopUS Treasury Sanctions $24 Billion Scam Marketplace
The US Treasury's Office of Foreign Assets Control (OFAC) has sanctioned Xinbi Guarantee, a Chinese-language platform that absorbed customers from the Huione network following regulatory crackdowns. The Department of Justice has seized the platform's infrastructure. Operators of the marketplace had previously informed users of their intent to transition from Tether to a stablecoin that is more resistant to freezing.
Summaries are written by AI from the original article. Not investment advice.