Crypto markets generally declined, with the AI sector leading the drop at over 6%, and BTC falling below $104,000.

The post Shocking OpenVPP Partnership Claim Draws Urgent Scrutiny appeared on BitcoinEthereumNews.com. The cryptocurrency world is buzzing with a recent controversy surrounding a bold OpenVPP partnership claim. This week, OpenVPP (OVPP) announced what it presented as a significant collaboration with the U.S. government in the innovative field of energy tokenization. However, this claim quickly drew the sharp eye of on-chain analyst ZachXBT, who highlighted a swift and official rebuttal that has sent ripples through the digital asset community. What Sparked the OpenVPP Partnership Claim Controversy? The core of the issue revolves around OpenVPP’s assertion of a U.S. government partnership. This kind of collaboration would typically be a monumental endorsement for any private cryptocurrency project, especially given the current regulatory climate. Such a partnership could signify a new era of mainstream adoption and legitimacy for energy tokenization initiatives. OpenVPP initially claimed cooperation with the U.S. government. This alleged partnership was said to be in the domain of energy tokenization. The announcement generated considerable interest and discussion online. ZachXBT, known for his diligent on-chain investigations, was quick to flag the development. He brought attention to the fact that U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce had directly addressed the OpenVPP partnership claim. Her response, delivered within hours, was unequivocal and starkly contradicted OpenVPP’s narrative. How Did Regulatory Authorities Respond to the OpenVPP Partnership Claim? Commissioner Hester Peirce’s statement was a crucial turning point in this unfolding story. She clearly stated that the SEC, as an agency, does not engage in partnerships with private cryptocurrency projects. This response effectively dismantled the credibility of OpenVPP’s initial announcement regarding their supposed government collaboration. Peirce’s swift clarification underscores a fundamental principle of regulatory bodies: maintaining impartiality and avoiding endorsements of private entities. Her statement serves as a vital reminder to the crypto community about the official stance of government agencies concerning private ventures. Moreover, ZachXBT’s analysis…

PANews reported on November 12 that, according to the Nanchong Political and Legal Affairs WeChat official account, the Shunqing Branch of the Nanchong Public Security Bureau recently cracked down on a money laundering gang using virtual currency, arresting five suspects, including Wang. In October of this year, Wang and others saw a "high-salary recruitment" advertisement, instructing them to transfer funds using bank cards, with "compensation" settled in virtual currency. Wang recruited Li, Wu, and others to form a "fleet" for illegal fund transfers. Wu provided the funding, and Wang connected with overseas black market groups, recruiting individuals like Sun to open bank accounts, thus constructing a complete criminal chain. Based on a tip, and with the support of the Criminal Investigation Brigade, the Luxi Police Station of the Shunqing District Public Security Bureau conducted an in-depth investigation and, after nearly a month, apprehended five individuals. During interrogation, they confessed to transferring funds for an overseas fraud ring. The ring also recruited "card farmers" (people who transfer money according to instructions from their superiors), receiving "payment" in virtual currency after completion. Currently, all five are under criminal detention, and the case is under further investigation.