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Europol, the EU's law enforcement agency, claims that criminal cases involving Bitcoin are now on par with those involving altcoins. This sounds surprising, given the widespread belief that Bitcoin is utterly dominating the crypto market. Yet, it is time to say goodbye to the old prejudices. Altcoins are on the rise, whether you like it or not. Criminal world has spoken. This revelation comes from Europol latest Internet Organised Crime Threat Assessment (IOCTA). The report, released on Monday, highlights a surge in crypto use for illegal activities. Altcoins, in particular, are gaining traction among criminals. Ransomware attackers still prefer Bitcoin for payoffs. It's easier to get hold of than other tokens. But some crooks are branching out. They're now demanding payments in coins like Monero. Europol tweeted about the report's findings. "In 2023, millions of victims across the EU were attacked and exploited online on a daily basis," they said. The crypto market's evolution is opening new doors for scammers. Europol warns that the growing number of crypto ETFs could be ripe for exploitation. Investment fraudsters are getting savvy. They're increasingly converting Bitcoin to stablecoins like Tether's USDT. Why? Stablecoins are less of a rollercoaster ride when it comes to price. Investigators have noticed something interesting about Tether. It's popping up more on the Tron blockchain than Ethereum. The likely reason? Lower transaction fees on Tron. Non-compliant services continue to be a thorn in the side of crypto investigators. Some companies are playing ball with law enforcement. But offshore services? They're still a headache, often leading to drawn-out legal procedures. Crypto laundering got a facelift in 2023. Swapping services are all the rage among criminals now. They're using these to cover their tracks, swapping to privacy coins for anonymity and stablecoins for stability. Last month, Europol raised another red flag. Crypto mining could be a new frontier for money laundering. Criminals can use it to hide dirty money and even turn a profit. The BitClub Network case is a prime example. It showed how mining pools can fuel Ponzi schemes, robbing victims of hundreds of millions of euros.

The stablecoin market cap has recently flipped positive. This could be bullish for Bitcoin. CryptoQuant's CEO, Ki Young Ju, highlighted this trend on X. The stablecoin market cap just hit a new all-time high. USDT's 30-day change had turned negative earlier. But it didn't stay down for long. The metric has now edged back into positive territory. It's a small increase, but it could signal a turnaround. Historically, rising stablecoin market caps have been good for Bitcoin. Ju's chart shows this pattern over the past year. Why do stablecoins matter for Bitcoin? It's all about their role in the market. Investors use these tokens to park cash. They avoid crypto volatility but stay ready to jump back in. So, stablecoin market cap can show potential Bitcoin buying power. When it goes up, there's more dry powder for BTC and others. This Tether uptick comes as Bitcoin itself is rallying. It suggests fresh capital inflows, not just rotation from BTC. That's a potent combo. It means there's capital waiting on the sidelines and direct inflows into Bitcoin. Tether now makes up about 70% of the total stablecoin market cap. That's a big chunk of the pie. The total stablecoin market cap has hit a new record. It's a sign of renewed investor interest. What's next? Keep an eye on these trends. They could signal more upside for Bitcoin and the broader crypto market. Remember, though: crypto's a wild ride. Don't bet the farm on any one indicator.

Tether and Bitfinex are in hot water again. The stablecoin issuer and crypto exchange are targets of a fresh class action lawsuit. The suit alleges market manipulation and antitrust violations. The case was filed in New York. It's a slimmed-down version of an ongoing legal battle. The plaintiffs are five individuals. They claim Tether and Bitfinex broke the law. The lawsuit is no joke. It accuses the firms of violating the Commodities Exchange Act. The allegations are serious. Market manipulation, monopolization, and trade restraint are on the list. Tether's alleged scheme was clever. The company supposedly pumped unbacked USDT into the market. This created fake demand for crypto. It's a bit like printing money out of thin air. The result? Crypto prices went through the roof. Tether allegedly facilitated trading on credit and loaned funds. It's a recipe for a market bubble. This isn't the first rodeo for Tether and Bitfinex. Previous complaints were filed in 2019 and 2020. The current suit is a trimmed-down version. It's got fewer causes of action. The case has had its share of drama. The original law firm, Roche Freedman, got the boot. Their founder, Kyle Roche, was caught on tape. He admitted to filing bogus lawsuits. Not a good look for a lawyer. The new complaint has some juicy details. It claims to have chat logs and deposition records. These allegedly show the companies' operators admitting to manipulation. If true, it's a smoking gun. Tether isn't taking this lying down. A spokesperson dismissed the claims. They say the lawsuit has no merit. It's a classic "he said, she said" situation. The stakes are high. Tether's USDT is a $83 billion behemoth. But what's even more important, stablecoins are gaining momentum, and - led by Tether - are now the lifeblood of the crypto market. That's to sat the least. If these allegations stick, it could shake the entire industry to its core. This case is far from over. It's a slow-moving train wreck that the crypto world can't look away from. Grab your popcorn, folks. This legal drama is just getting started.

Tether, the company behind the world's largest stablecoin, is upping its transparency game. They've just brought on Philip Gradwell as head of economics. Gradwell, previously the chief economist at Chainalysis, will be crunching numbers on USDT usage. His main job? Explaining USDT's role to regulators and stakeholders. It's a big task. USDT's daily trading volumes are in the billions. In the last 24 hours alone, it hit $32.23 billion, according to Messari. Gradwell's got his work cut out for him. He's aiming to shift the conversation. "Many people still view digital assets as a mystery," he says. His goal is to show how USDT is "supporting dollar hegemony" in the real economy. The new hire comes at a crucial time. Tether's relationship with U.S. regulators has been a bit of a rollercoaster. In 2021, they coughed up $18.5 million to settle with New York's Attorney General. The issue? Allegations of misrepresenting USDT's backing. But they're not all at loggerheads. Tether's been playing ball with the feds lately. They've even let the FBI onto their platform. In March, they helped the DOJ recover $1.4 million in stolen USDT. Gradwell's role will be key in "enhancing communication with regulatory bodies," says Tether. It's a smart move. Government scrutiny has actually boosted USDT's market share. Talk about a silver lining. Right now, USDT dominates 69% of the stablecoin market. Its nearest rival, USDC, is eating dust. DefiLlama puts USDT's current market cap at a whopping $112 billion. Tether's clearly not messing around. They're bringing in the big guns to explain their coin's real-world impact. It's a savvy play in today's regulatory climate. Will Gradwell's number-crunching satisfy the powers that be? Only time will tell. But one thing's for sure: Tether's not sitting on its hands. For now, it's all eyes on Gradwell. Can he demystify USDT for the skeptics? That's the million-dollar question. Or should we say, the 112-billion-dollar question?

The Argentine government has introduced new measures for cryptocurrency holders. Citizens can avoid certain taxes by declaring their digital assets. The move aims to bring crypto into the financial mainstream, and might be seen as a part of wider crypto adoption and overall economy liberalization. The new rules are part of President Javier Milei's Fiscal Package unveiled last Friday. Under amended money laundering laws, Argentines can declare up to $100,000 in Bitcoin and other tokens tax-free. But there's a catch. The exemption only applies to assets held on government-registered platforms. "Virtual assets are considered 'within Argentina' if managed on exchanges registered with the National Securities Commission (CNV)," the law states. This could be a problem for many Argentines, because they use international wallets not registered with the CNV, like popular Exodus or MetaMask. Valuation is another tricky issue. The law requires using market rates from December 31, 2023, or acquisition value if higher. This complicates things for stablecoin holders, who often pay premiums due to currency controls. "Argentina is an anomalous market where many people buy USDT and don't leave room for much else," Tether's chief Paolo Ardoino tweeted recently. Stablecoins are popular as a hedge against inflation. Anyway, Argentina is going pretty rough on those who will not comply. Failing to declare crypto assets could result in criminal charges. At the same time, declaring crypto won't exempt holders from all taxes. It only avoids a "special" levy on undeclared assets. Economy Minister Luis Caputo said assets must stay in the Argentine financial system until December 2025 to qualify. Similar rules apply to foreign currencies. Non-declaration could result in taxes of 5-15% of the dollar value.