Xdrip is making significant strides with XMARKET, their revolutionary NFT marketplace on the Binance Smart Chain. With a strong community and a deep passion for crypto and XRP, Xdrip is gearing up for the launch of XMARKET and aims to attract exceptional creators to be part of this groundbreaking project. As anticipation builds, Xdrip is releasing a new video on Tuesday the 16th, which can be found on their YouTube channel, solidifying their commitment to creating a long-term home for artists and creators.
Rising Crypto Crime and the Need for Action:
The crypto industry has witnessed an alarming surge in hacks, exploits, and crimes, with illicit transaction volume reaching a staggering $20 billion in 2022, a 40% increase from the previous year. Notably, the involvement of companies targeted by U.S. sanctions has contributed to this rise in illicit activity, as reported by Watcher Guru. It is crucial to address this issue to ensure the safety and security of the crypto ecosystem.
Cracking Down on Illicit Behavior:
Recognizing the gravity of crypto-related crimes, the U.S. Department of Justice (DoJ) has intensified its efforts to combat illicit behavior within digital platforms. Eun Young Choi, Director of the National Cryptocurrency Enforcement Team at the DoJ, has emphasized their focus on targeting crypto exchanges involved in criminal activities or facilitating them. Additionally, the DoJ is keen on addressing the role of “mixers and tumblers” in concealing transaction trails, aiming to tackle the current state of affairs.
The Growing Scale of Illicit Activities:
Choi acknowledges the significant growth of illicit behavior involving digital assets over the past four years, coinciding with the increased adoption of cryptocurrencies by the public. The DoJ aims to send a strong deterrent message by subjecting platforms to heightened scrutiny, ensuring that businesses flouting regulations and U.S. criminal law are held accountable.
Promoting Accountability and Safeguarding the Industry:
The DoJ is steadfast in its commitment to accountability, emphasizing that market share or size should not exempt any company from facing consequences for violating U.S. criminal law. By targeting crypto exchanges, companies involved in thefts and hacks, and addressing issues within decentralized finance (DeFi) such as “chain bridges,” the DoJ aims to curb illicit activities and promote a safer and more compliant crypto landscape.
As Xdrip continues to forge ahead with the development of XMARKET, their innovative NFT marketplace, it is crucial to address the rising tide of crypto crime. Xdrip’s dedication to providing a secure and compliant environment demonstrates their commitment to empowering NFT creators while contributing to the long-term stability and growth of the crypto industry. The increased focus from regulatory agencies like the U.S. Department of Justice highlights the collective effort to combat illicit behavior and establish a safer and more trustworthy crypto ecosystem.
Join the Xdrip & XMARKET Community:
To learn more about Xdrip’s vision for a secure and thriving crypto ecosystem, we invite you to join the Xdrip Telegram channel on May 16th at 7pm UTC. Be part of the conversation as the new video is released and engage with the team and community members to discuss the crucial topic of security. Together, let’s shape the future of NFT trading and creation while prioritizing safety and innovation. Join the Xdrip Telegram channel today and be at the forefront of the XMARKET revolution.