Cybercriminals are increasingly targeting TikTok Shop users through a phishing and malware campaign known as ‘ClickTok‘. The scheme uses fake Meta ads and AI-generated TikTok videos imitating influencers to lure victims to fraudulent domains resembling real sites.
These domains are used to steal credentials and distribute trojanised applications. More than 10,000 fake sites have been identified, luring shoppers with heavily discounted products and urgency tactics such as countdown timers.
Victims are prompted to make payments in Tether, allowing scammers to exploit the irreversible nature of cryptocurrency transactions. The fraudulent storefronts are designed to appear convincing, encouraging rash purchases.
TikTok Shop affiliate members are also being targeted with advance fee scams. Criminals pose as TikTok affiliates on WhatsApp and Telegram, convincing victims to deposit funds into bogus wallets in exchange for fake commission payments.
The report warns that the younger demographic on TikTok, particularly those aged 18 to 34, may be more vulnerable to such schemes. The trend shows scams shifting from Facebook and X to new e-commerce platforms.
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The United Arab Emirates is moving closer to a unified regulatory framework for cryptocurrencies after the SCA and the Dubai VARA announced a formal partnership. The agreement aims to harmonise crypto oversight nationwide while maintaining robust compliance and security standards.
Mutual recognition of virtual asset service provider (VASP) licences forms the partnership’s core. However, automatic passporting between emirates will not be permitted.
Each VASP licensed by one authority will undergo coordinated regulatory assessments, including Anti-Money Laundering and operational checks, to ensure national standards are upheld.
The collaboration promises more precise regulation, faster market entry, and reduced duplication for crypto firms operating in the UAE. Officials highlight the deal as a milestone that strengthens the country’s position as an innovation-focused and credible crypto hub.
Ongoing talks with regulators like Abu Dhabi Global Markets support the UAE’s broader strategy for regulatory alignment and cross-border cooperation in virtual assets.
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US President Donald Trump signed an executive order to include cryptocurrencies and other alternative assets in 401(k) retirement accounts. The initiative aims to reduce regulatory and legal hurdles that have limited retirees from accessing higher returns and greater asset diversification.
The Secretary of Labour and SEC have been tasked with easing access to alternative investments in defined contribution plans. The order also calls for clarifying or revising existing rules to reduce industry legal uncertainties.
Despite the opportunity for higher returns, critics caution that these investments come with increased risks, less transparency, and higher fees than traditional retirement options.
Recent legislative activity reflects growing US government attention to digital assets. The Senate passed a bill regulating stablecoins, introducing reserve requirements and consumer protections.
Experts highlight that cryptocurrencies have evolved beyond speculative assets. They have become integrated into the global financial system and are sensitive to changes in regulatory and political landscapes.
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Laser Digital, a subsidiary of Japan’s Nomura, secured Dubai’s first licence to offer over-the-counter (OTC) crypto options under the Virtual Asset Regulatory Authority’s (VARA) pilot programme. The company is the sole firm authorised to offer regulated OTC crypto derivatives to institutional clients in the city.
Operations will begin with Bitcoin vanilla options, structured according to International Swaps and Derivatives Association (ISDA) contracts. The approach relies on traditional finance legal frameworks to define rights and obligations for each trade.
Laser Digital aims to build trust by starting with simple, medium-term options rather than complex derivatives.
Plans for future services include lending, spot trading, and yield-generating products, but any expansion depends on further regulatory approvals. The company plans to expand its offerings as market demand and regulatory approval permit, though no timeline has been given.
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Most cryptocurrency exchanges in Poland may shut down by the end of 2025 due to the high costs of complying with the EU’s MiCA regulation and national requirements. Smaller platforms struggle to afford expensive licences, capital, and compliance systems.
Under MiCA, providers must pay costly licence fees—up to 3 million złoty ($800,000)—and maintain significant capital. One Warsaw operator called the rules ‘a death sentence for local players.’
Meanwhile, global firms like Binance and Coinbase are better positioned to meet these demands.
While investors could gain more protection, market consolidation may reduce competition and raise fees. Poland is debating legislation to ease fees and attract crypto investment, but uncertainty remains as the MiCA deadline approaches.
Some firms welcome the changes, seeing a chance to compete fairly with traditional finance. Poland’s largely unregulated crypto market is entering a major transformation.
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China’s top security agency has raised concerns over crypto-related projects collecting biometric data, warning they may threaten national security. A recent MSS bulletin warned that crypto firms trading tokens for iris scans could misuse personal data.
While the agency didn’t explicitly mention Worldcoin, the description aligns with its practice of exchanging tokens for biometric scans in over 160 countries.
Officials described iris recognition as a sensitive form of identification that, once leaked, cannot be changed. The bulletin warned that fake facial data may be used by foreign agencies for espionage and infiltration.
In response to privacy concerns, Ethereum co-founder Vitalik Buterin recently proposed a pluralistic identity system. The concept combines multiple sources of verification rather than relying on a single, centralised ID.
He argued that current models risk eliminating anonymity and may favour wealthy participants in verification systems.
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Indonesia is considering adding Bitcoin to its national reserves, with support from the Vice President’s office and other key parties. The proposal suggests allocating about $18.3 billion to Bitcoin through the Daya Anagata Nusantara Investment Management Agency (BPI Danantara).
Proponents say this could help reduce national debt and diversify reserves.
Bitcoin advocates recently presented to the Vice President’s office, proposing Bitcoin mining as part of the national reserve strategy. Discussions focused on Bitcoin’s potential to strengthen Indonesia’s economy long-term, aligning with milestones like the country’s centenary of independence.
BPI Danantara, launched in February 2025, manages state assets independently to boost development. The Bitcoin allocation could secure up to 200,000 BTC, generating profits to ease debt pressures.
If approved, Indonesia would be among the first Southeast Asian countries to include Bitcoin in its sovereign wealth fund, marking a significant step in the region’s crypto landscape.
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The Philippines SEC has warned 10 major crypto exchanges, including OKX, Bybit, KuCoin, and Kraken, for operating without proper authorisation under new regulations. These platforms continue offering services to Filipino users despite lacking official registration, putting investors at risk.
The SEC noted that other unregistered exchanges may also be operating illegally. It plans to take enforcement actions such as cease and desist orders and criminal complaints.
The regulator will collaborate with Google, Apple, and Meta to block unauthorised marketing and app availability.
Similar crackdowns are underway across Southeast Asia. Thailand recently ordered the blocking offshore exchanges like Bybit and OKX, urging investors to withdraw funds. Indonesia has increased income tax rates on foreign crypto platforms, raising costs for offshore trading.
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China’s Ministry of State Security has warned of foreign attempts to collect sensitive biometric data via crypto schemes. The ministry warned that foreign agents are illegally harvesting iris scans and facial data, risking personal privacy and national security.
The advisory noted recent cases in which foreign intelligence services exploited biometric technologies to spy on individuals within China. Cryptocurrencies incentivised people worldwide to submit iris scans, which were sent overseas.
Although no specific companies were named, the description resembled the approach of the crypto firm World, formerly known as Worldcoin.
Biometric identification methods have proliferated across many sectors due to their accuracy and convenience. However, the ministry stressed the vulnerability of such systems to data breaches and misuse.
Iris patterns, unique and challenging to replicate, are prized by malicious actors.
Citizens are urged to remain cautious, carefully review privacy policies, and question how their biometric information is handled.
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Brazil’s House of Representatives will convene on 20 August to evaluate a bill proposing the creation of a national Bitcoin reserve. If approved, the legislation would allow up to 5% of the nation’s treasury reserves, equivalent to nearly $15 billion, to be invested in Bitcoin.
The hearing will involve several key institutions, including the Central Bank of Brazil, the Ministry of Finance, a crypto advocacy group, and financial sector stakeholders.
Supporters of the bill claim that a Bitcoin reserve would shield Brazil’s foreign reserves from currency volatility and geopolitical threats. They also argue it would encourage broader adoption of blockchain technologies.
The proposal follows similar global movements. India and Sweden are also rumoured to be exploring similar strategies.
Reactions in Brazil are mixed. While Vice President Alckmin’s chief of staff praised the initiative, calling Bitcoin’ digital gold,’ officials at the Central Bank have cautioned against integrating crypto into official reserves.
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