On December 18, 2024, the Australian Securities and Investments Commission (ASIC) initiated legal proceedings against Binance Australia Derivatives for alleged consumer protection failures. ASIC accused the platform of misclassifying over 500 retail clients as wholesale investors between July 2022 and April 2023. This misclassification reportedly deprived retail clients of essential legal protections under Australian financial laws, which are designed to provide stronger consumer safeguards.
In a separate incident, on December 22, 2024, Interpol issued a Red Notice for Richard Schueler, known as Richard Heart, the founder of Hex. He faces allegations of tax fraud and assault involving a minor, and is also listed among Europe's most-wanted fugitives.
Additionally, on December 18, 2024, Roman Storm, co-founder of the crypto mixing platform Tornado Cash, filed a motion in Manhattan District Court seeking to dismiss charges against him. This follows an appeals court ruling that determined the sanctions imposed by the Treasury's Office of Foreign Assets Control (OFAC) on Tornado Cash's smart contracts were unlawful.
In South Korea, lawmaker Kim Nam-kuk is facing a six-month jail sentence for failing to report his full cryptocurrency holdings. Prosecutors allege he concealed 990 million won ($825,600) in digital assets, despite declaring only 1.2 billion won in 2021. This case has raised concerns regarding transparency and ethics among public officials.