Dutch authorities arrest suspected Tornado Cash developer

The Dutch Fiscal Information and Investigation Service doesn't rule out multiple arrests in its ongoing criminal investigation against the crypto mixer Tornado Cash. Authorities in the Netherlands have arrested a developer that is suspected to be involved in money laundering through the crypto mixing service Tornado Cash.The Fiscal Information and Investigation Service (FIOD), an agency in the Netherlands responsible for investigating financial crimes, officially announced on Friday an arrest of a 29-year-old man in Amsterdam.The man has allegedly been involved in facilitating criminal financial flows and money laundering through the decentralized Ethereum mixer Tornado Cash, the authority said.The FIOD pointed out that it doesn’t rule out multiple arrests in the case, noting that its Financial Advanced Cyber Team (FACT) launched a criminal investigation against Tornado Cash in June 2022.According to the FACT, Tornado Cash has allegedly been used to conceal large-scale criminal money flows, including crypto hacks and scams.“These included funds stolen through hacks by a group believed to be associated with North Korea.

Aussie FPA supports 'crypto rule book' and regulation of exchanges

Swyftx co-CEO Ryan Parsons echoed the calls from the FPA, noting that “Our preference is for crypto platforms to operate within the existing financial services licensing framework.” The Financial Planning Association of Australia (FPA) has shown its support for the “crypto rule book” idea and called for regulating exchanges instead of crypto assets.In May, the Australian Law Reform Council (ALRC) proposed to tackle crypto regulation through a rule book-style framework which sets out a series of gradually updated compliance principles for local crypto firms to adhere to.