📌 TOPINDIATOURS Hot crypto: Tennessee Couple Ordered To Pay Almost $7 Million In C

A married couple from Tennessee has been ordered to pay a penalty of nearly $7 million for fraud involving a commodity pool, the Commodity Futures Trading Commission announced on Thursday.

Commodity Pool Fraud Costs Couple Millions, CFTC Says

According to the September 25 press release, married realtors Michael Griffis and Amanda Griffis convinced 145 people to contribute $6.5 million to a community pool known as “Blessings Thru Crypto.”

The duo claimed that the funds would be “used to trade commodity futures on the Apex Trading Platform with guidance from an individual known only as Coach Wendy.”

In reality, the commodity pool was a copy of an overseas exchange and it is still unclear who exactly “Coach Wendy” is.

“More than $4 million of the pool’s funds were sent to the illegitimate overseas exchange where it was immediately sent to a variety of other accounts and offshore trading platforms,” the press release states.

“The remaining funds were misappropriated for personal expenses, including paying personal debts and buying a variety of consumer goods,” the press release continues.

CFTC Bans Realtor Couple For Alleged Crypto Scheme

According to a newly filed consent order in the U.S. District Court for the Middle District of Tennessee, the couple $5,528,121 in restitution to defrauded victims and a $1,355,232 civil monetary penalty.

In total, the duo will have to pay over $6.8 million in monetary relief.

They are also banned from trading and registering with the CFTC and are prohibited from further violations of the Commodity Exchange Act and CFTC regulations.

“This case is a stark warning to be cautious about whom you trust with your money,” said Charles Marvine, Acting Chief of the Division of Enforcement’s Retail Fraud and General Enforcement Task Force. “If an investment opportunity seems too good to be true, it almost certainly is, for you and anyone you bring along.”

The post Tennessee Couple Ordered To Pay Almost $7 Million In Crypto Trading Fraud Scheme appeared first on Cryptonews.

🔗 Sumber: cryptonews.com

📌 TOPINDIATOURS Breaking crypto: SWIFT Taps Linea for Blockchain Messaging Pilot W

SWIFT, the global financial messaging network, is working with over a dozen banks to test on-chain messaging using Linea, the Ethereum layer-2 platform developed by ConsenSys.

Institutions including BNP Paribas and BNY Mellon are participating in the initiative, which is also considered a stablecoin-like settlement token.

SWIFT and Global Banks Begin Linea Blockchain Messaging Trial

A source within one bank said the project could mark “a technological transformation for the international interbank payments industry,” though development will take several months before outcomes become clear.

SWIFT connects over 11,000 financial institutions, transmitting payment instructions but not funds. Its centralized model depends on intermediaries and legacy rails, which critics argue add complexity and delay. The pilot seeks to determine whether Linea’s zk-rollup architecture—designed for faster, scalable transactions with privacy-focused cryptography—can streamline messaging and settlement while meeting regulatory standards.

The initiative follows SWIFT’s broader blockchain efforts. The network recently announced new rules for retail cross-border payments to increase speed and predictability. Global banks plan to trial live digital asset transactions on their infrastructure from 2025.

Earlier pilots showed blockchain interoperability, with UBS and Chainlink helping SWIFT complete tokenized asset transfers. The network also explored global digital asset transaction frameworks and considered integration with the XRP Ledger.

Linea, which launched its token this year to support a $72 billion decentralized finance ecosystem, positions itself as an enterprise-ready environment for banks seeking compliance and scalability.

In a recent panel discussion, SWIFT executives also addressed the pilot and the broader digital asset shift, and executives stressed that the industry is moving into a new phase.

We’re beyond experiments now. The question is how to scale—regardless of whether the instrument is a tokenized deposit, a CBDC, a stablecoin, or a tokenized fund. It comes down to what exactly we’re connecting and where the value shows up.

Tom Zschach, SWIFT

Scaling Blockchain Messaging Faces Legal and Compliance Hurdles

Supporters argue blockchain messaging could enhance settlement efficiency, programmability, and transparency. However, hurdles remain. Banks face steep integration costs, operational risks, and regulatory scrutiny around token issuance and transaction data. One critical obstacle is legal certainty.

Settlement is a legal construct, not a technical one. We need to align a blockchain’s confirmation model with legal finality. Without that alignment, scaling will be difficult.

Tom Zschach, SWIFT

The comment highlights why standards, rulebooks, and jurisdictional clarity are essential for recognizing on-chain settlement in court.

While full adoption is uncertain, the pilot signals SWIFT’s intent to align its infrastructure with emerging digital asset markets. The outcome could determine whether blockchain becomes embedded in global interbank communication.

The post SWIFT Taps Linea for Blockchain Messaging Pilot appeared first on BeInCrypto.

🔗 Sumber: www.beincrypto.com