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On February 14, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, attended the Munich Security Conference and delivered a speech and answered questions at the "China Session." When asked about Chinas role in resolving regional conflicts, particularly the Ukraine issue, Wang Yi stated that Chinas position is clear: all regional hotspots should seek political solutions through dialogue and consultation, and the same applies to the Ukraine issue. However, China is not a party to the conflict, and the decision-making power is not in Chinas hands. What we can do is to promote peace talks. We have dispatched special envoys to mediate and, through various channels, emphasized to all parties that a ceasefire should be implemented as soon as possible, and that everyone should return to the negotiating table.On February 14, 2026, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, attended the Munich Security Conference, delivered a speech at the "China Session," and answered questions from the audience. Wang Yi emphasized that the erroneous remarks by Japanese leaders on the Taiwan issue exposed Japans undying ambition to invade and colonize Taiwan and the lingering specter of reviving militarism. Japan launched its invasion of China and attacked Pearl Harbor under the pretext of a so-called "crisis and existential crisis." The lessons of history are still fresh and must be heeded. If Japan does not repent, it will inevitably repeat the same mistakes. Good people should be vigilant. First and foremost, the Japanese people must be reminded not to be blinded and coerced by far-right forces and extremist ideologies again. All peace-loving countries should also warn Japan: if it chooses to go back to its old ways, it will only lead to its own destruction.Joint statement from the UK, Switzerland, France, Germany, and the Netherlands: We and our partners will use all policy tools at our disposal to continue to hold Russia accountable.Joint statement from the UK, Switzerland, France, Germany, and the Netherlands: We further express our concern that Russia has not destroyed all of its chemical weapons.The United Kingdom, Sweden, France, Germany, and the Netherlands issued a joint statement regarding the death of Alexei Navalny.

New York Senator Introduces Bill To Criminalize Crypto Fraud

Skylar Shaw

Apr 28, 2022 09:46

The rise of the crypto realm brought both benefits and drawbacks, and while the public recognized the benefits of the technology, criminals recognized how to use it to commit crimes.


As a consequence, hackers, fraudsters, and exploiters have appeared in the crypto realm, preying on naive investors and defrauding them of millions of dollars.

There Are No Longer Any Rug Pulls

Senator Kevin Thomas of New York presented legislation in the state senate today that would criminalize crypto crimes and impose penalties.


Thomas, who is also the Chairman of the Consumer Protection Committee, filed a bill titled – An act to alter the criminal legislation in regard to the establishment of certain crimes pertaining to crypto fraud.


The bill's main emphasis is on rug pulls, which are presently causing havoc on the bitcoin business, according to the proposed law.


Rug pulling is a circumstance in which a project seems to be genuine but is really handled by a person or individuals who destroy the business after enough investors engage and then flee with all of the money put in the project.


"Famous instances include Squid Game Coin ($SQUID), which began at a price of $0.016 per coin, soared to roughly $2,861.80 per coin in only one week, and then crashed to a price of $0.0007926 in less than five minutes following the rug pull," the bill said, citing the Squid Games-inspired token SQUID as the precedent for the legislation. 


To put it another way, the SQUID founders made a 23,000,000% profit on their investment, while their investors were duped out of millions. Prosecutors will have a clear legal framework in which to prosecute these sorts of crimes under this measure."


However, the actual penalties and budgetary repercussions have yet to be determined, and will be after the law is enacted.

Crypto-Crimes are on the Rise

Rug pulls may seem like legend, but they still exist, and they were single-handedly responsible for $2.8 billion in crypto-crime.


However, over time, these rug pullers have shifted their attention from classic token scamming to DeFi initiatives, notably NFTs.


Last year, the NFT market boomed, with many new NFT collections appearing on a regular basis. Investors bought these NFTs out of fear of missing out, and in one case, they lost $1.3 million.


The Frosties NFT project, which deceived its investors on January 11 when its 8,888 NFTs abruptly lost all value, was the first significant rug pull of 2022.


According to sources, the project's Twitter and Discord accounts, as well as its website, mysteriously vanished. An anonymous invader had taken $1.1 million (ETH) and $4,000 worth of Ether tokens in the previous two days, it was subsequently discovered.


Thus, although criminalizing rug pulls may put a stop to it, it still leaves a loophole for other crimes, which must be criminalized as quickly as possible.



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