This past week in the cryptocurrency world has been marked by significant enforcement actions globally, a high-profile hack, and the latest on FTX’s plans to repay its customers. Here’s a detailed recap:

Enforcement Actions Around the Globe

The U.S. has seen a flurry of activity with the Department of Justice (DoJ) taking action against individuals linked to crypto crimes. Charges were brought against a Belarusian national for connections to the BTC-e exchange platform and two New Jersey school staff members for running an unlicensed crypto mining operation. Furthermore, the SEC has indicted the founder of the American Bitcoin Academy for defrauding students of $1.2 million.

Regulatory Climate in the U.S.

Amidst these enforcement actions, the regulatory landscape in the U.S. remains uncertain. Coinbase recently contested the SEC’s decision to deny a rules-making petition, calling the rejection’s basis inadequate. Additionally, the SEC has withdrawn its case against Debt Box, possibly to avoid penalties after a court challenge. On a positive note, a group of 18 senators has shown support for the crypto sector.

Major Seizures in Germany and Britain

Enforcement wasn’t confined to the U.S., as German authorities seized 50,000 BTC during an illegal file-sharing investigation. British police followed suit, confiscating 61,000 BTC linked to a 2018 investment scam involving Chinese nationals.

China Tightens Crypto Regulations

China is revising its AML policies for the first time in nearly two decades to better align with the crypto industry. Hong Kong, too, is stepping up its regulatory game, with six raids on offices related to OpenAI’s Worldcoin project and a new plan to regulate energy use in cryptocurrency mining.

Ripple Chair Falls Victim to Hack

Chris Larsen, Ripple’s co-founder, confirmed a personal loss of 213 million XRP to hackers. While his personal wallet was compromised, Ripple’s wallets remain secure. Binance and other exchanges have taken steps to freeze some of the stolen funds.

FTX’s Path to Repayment

FTX is working towards liquidating assets to repay customers, veering away from initial plans to revive the exchange. The bankruptcy estate has also managed to secure funds from a British charity and is looking to sell its stake in Anthropic. Additionally, FTX’s recent $400 million loss due to a sim-swap attack has come to light.

Spot Bitcoin ETF Market Updates

The U.S. spot Bitcoin ETF market has seen a rebound with net inflows, and companies like Galaxy Digital and Invesco are slashing fees to stay competitive. Meanwhile, BlackRock and VanEck are leveraging Google’s new ad policy to promote their ETF products. In Hong Kong, Harvest Fund is making moves to launch a spot Bitcoin ETF.