🇭🇰 Hong Kong's stablecoin

What we’ll cover today:

🧢 Trump family goes full legal mode on a rogue crypto wallet
👨‍💻 U.S. seizes $7.7M in crypto tied to North Korean fake IT workers
🇭🇰 Hong Kong's stablecoin rules officially drop this August

🧢 Trump Wallet Drama Just Got Legal

Trump’s family vs. memecoin makers. Trump-backed WLFI is suing a crypto wallet that used the family name without permission.

🚨 Breaking News:
Trump’s family sent a legal notice to Fight Fight Fight LLC for launching an unofficial Trump-themed wallet with Magic Eden.

⚡ Wire Simplified:

• WLFI issued a cease-and-desist to stop the wallet project.

• Eric & Don Jr. publicly denied any involvement.

• TrumpWallet.com has now gone offline.

• Magic Eden and GetTrumpMemes still have promos up.

• The project claimed ties to Trump Org—now under scrutiny.

✔️ Straight to the Point:
Another Trump-linked crypto project bites the dust. Lesson: slapping a famous name on your token doesn’t make it legal… or smart.

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🧊 North Korea’s Fake IT Army Gets Caught

The U.S. is seizing $7.7M in crypto earned by North Korean operatives posing as blockchain workers. Yes, that happened.

🚨 Breaking News:
DOJ targets $7.7M in crypto earnings laundered by fake North Korean IT workers embedded in blockchain firms worldwide.

⚡ Wire Simplified:

• DPRK workers used fake IDs to get remote crypto jobs.

• They asked for stablecoin payments to hide location.

• Money was laundered via chain swaps, NFTs, and more.

• U.S. froze assets last year; now moving to seize them.

• Part of a broader crackdown called “DPRK RevGen.”

✔️ Straight to the Point:
Crypto gigs are the new spy frontier. U.S. is cracking down hard—especially when nukes might be funded through NFTs.

🪙 Hong Kong’s Stablecoin Rules Drop in August

Hong Kong is getting serious about stablecoins. A new law requires licenses starting August. Issuers, better lawyer up.

🚨 Breaking News:
Hong Kong’s Stablecoin Ordinance kicks off August 1, requiring licenses for stablecoin issuers tied to the HK dollar.

⚡ Wire Simplified:

• Bill passed quickly to boost crypto industry trust.

• Only licensed firms can issue or advertise stablecoins.

• Unlicensed qualified investors may get limited permissions.

• Ads for stablecoins restricted to verified entities.

• Aimed at scam prevention and sustainable growth.

✔️ Straight to the Point:
Hong Kong’s not playing games. Want to mint stablecoins? You’ll need more than a whitepaper—you’ll need government permission.