Blockchain
From Covid Bounce Back Loan Fraud to Cryptoassets
- 2023’s Top Trends In Corporate Crime And Financial Investigations
LONDON – The Investigations and Resolutions team at leading Chambers 4-5 Gray’s Inn Square predicts key trends.
1. Public inquiries
The Public Inquiries team at 4-5 Gray’s Inn Square has long been associated with high profile and sensitive Public Inquiries. Ramya Nagesh, a barrister who has worked on some of the largest inquiries and inquests of the last decade, including the Undercover Policing Inquiry, the Grenfell Inquiry, the Post Office Inquiry and the Hillsborough Inquests, is clear this area isn’t likely to slow down next year:
“In 2010, the number of simultaneously open public inquiries reached its peak at 16 concurrent open inquiries. Over ten years later, it would be fair to say that the appetite for inquiries has not significantly diminished. In the last few years alone, we have seen the Grenfell Inquiry, the Undercover Policing Inquiry, the Infected Blood Inquiry, the Independent Inquiry into Child Sexual Abuse and we are soon to see the start of the UK Covid-19 Inquiry.”
2. Cryptoassets go mainstream
Rowena Wisniewska Sethi, a barrister specialising in financial regulation, predicts increased regulation on crypto will bring a real need for better understanding of blockchain and DLT (blockchain-based registration system).
She says: “Over the next year, the focus in crypto is likely to be not only on the virtual assets themselves but on the clever ways we can use DLT; for example, as a ‘block’ storage mechanism for digital records across a network, and bulk storing smart contracts (such as travel insurance). HM Treasury announced in April that it will bring stable coins into the UK regulatory perimeter; we will also see an increasing focus on the regulation of some cryptoassets in financial services. Ultimately, this means that cryptoassets are likely to become more mainstream as a form of payment and so it will be important for advisors to have a deep understanding of blockchain and the uses of DLT as well as how cryptoassets are stored and regulated.”
3. Billions in Covid bounce back loan fraud
One area likely to be under scrutiny is fraud emerging from the Government’s Covid-19 financial support packages.
White-collar crime expert barrister Raoul Colvile, says:
“Around £47 billion of loans were issued, and it is estimated that around 11% (£4.9 billion) were potentially fraudulently obtained. From a legal perspective, there are various routes that may be open to enforcement agencies, in both the criminal and civil spheres. There is obvious scope for fraud charges, and there are examples of Account Freezing Orders being obtained. Outside the criminal sphere, director disqualifications, bankruptcy restrictions, and winding up petitions have all been pursued.”
A barrister specialising in investigations, Max Shephard, says: “The government recently announced that it will be closing down the Taxpayer Protection Taskforce, a unit charged with the recovery of stolen money from Covid support schemes, in March next year. Given the ongoing cost of living crisis, and the highly political nature of preserving public funds, it will be interesting to see what lies ahead in a counter-fraud landscape.”
4. Non-financial misconduct
In the aftermath of both MeToo and 2020’s racial justice protests, there will continue to be scrutiny on non-financial forms of misconduct, including sexual misconduct, racism and bullying or harassment.
Public and regulatory law expert Thomas Francis, says: “In recent years the FCA has opened several investigations into alleged non-financial misconduct, of which some high-profile examples include the financial penalty imposed on the former CEO of Barclays in relation to attempts to unmask a whistle-blower and the prohibitions sought and obtained against three IFAs convicted in 2018 of serious sexual offences. This heightened focus, carrying with it the possibility of enforcement action, has had an industry-wide effect – and will continue to do so over the coming years.”
5. The battle against money laundering in offshore jurisdictions
Nikesh Pandit, a barrister specialising in financial services, says: “Our barristers are regularly instructed by offshore clients, including offshore financial regulators. A key area of instructions in this regard is anti-money laundering (AML) and combating terrorist financing (CTF) investigations. This reflects an increasing drive in offshore jurisdictions to counter money laundering and the financing of terrorism through the implementation of international standards and enhanced resources for national authorities to take action.”
Regulatory specialist Iulia Şaran, says: “Whilst challenges remain, recent MONEYVAL (Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism) reports have highlighted improvements. For example, the application of corrective sanctions for infringements of legislation in Gibraltar, Estonia, Jersey and Malta, which aim to make sanctions for violations of anti-money laundering standards more effective and dissuasive. Jersey has been recognised for introducing a digital register which leverages AI technology and third-party KYC (Know Your Client) data for improved vetting of beneficial ownership and control.”
— ENDS–
FOR MORE INFORMATION CONTACT Kathryn Adamson, [email protected], Mobile (+44) 0771 713 3595
NOTES TO EDITORS
4-5 Gray’s Inn Square is a leading public and commercial law chambers. The core areas of law are public, commercial, planning & property, dispute resolution, international, regulatory & disciplinary and sports. The Investigations & Resolutions team has considerable expertise in different regimes and sectors. In particular, our business crime and financial regulation specialists have significant first-hand experience of working with prosecutors and regulators at every stage. In addition, 4-5 Gray’s Inn Square’s public inquiries team have been involved in some of the most notable cases in recent times.
Source: RealWire
Blockchain
Blocks & Headlines: Today in Blockchain – May 28, 2025 (Angermayer, Soneium, ASIC, Guo, DMG)
Blockchain technology and cryptocurrencies continue to evolve at breakneck speed, driving new partnerships, regulatory battles, service launches, and environmental innovations. Today’s briefing highlights five pivotal developments:
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Christian Angermayer’s investment in Uranium Digital, signaling a shift toward tokenized commodities.
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Sony’s Soneium launch, embedding Web3 into entertainment via a layer-2 blockchain.
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ASIC’s lawsuit against a former Blockchain Global exec, underscoring regulatory scrutiny over exchange failures.
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Cointelegraph’s coverage of civil proceedings against Liang “Allan” Guo, reinforcing Australia’s hard line on director accountability.
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DMG Blockchain’s carbon-neutral Bitcoin transactions, blending green initiatives with custody services.
We’ll unpack each story with concise coverage, opinion-driven commentary, and “Source” attributions—arming you with context and SEO-rich keywords like blockchain, cryptocurrency, Web3, DeFi, and NFTs.
1. Christian Angermayer Backs Uranium Digital’s Tokenized Commodities
Summary: Christian Angermayer, the German biotech billionaire and prominent crypto investor, has joined Uranium Digital as a strategic investor and advisor—aiming to bring uranium trading onto blockchain rails and open commodities markets to tokenized liquidity .
Analysis & Commentary:
Angermayer’s move represents a pivotal moment for asset tokenization, blending commodity markets with DeFi liquidity. By leveraging blockchain’s transparency and fractional ownership, Uranium Digital could democratize access to a market historically reserved for large institutional players. However, regulatory frameworks for nuclear materials are stringent—navigating cross-border compliance will be as critical as the technical on-chain architecture. This partnership may set a precedent for other “hard asset” tokenization ventures seeking both capital and credibility.
Source: Fortune/Yahoo Finance
2. Sony’s Soneium: A Layer-2 Web3 Revolution for Entertainment
Summary: Sony’s new layer-2 blockchain, Soneium, launched in January 2025 to facilitate fast, low-cost transactions for gaming, NFTs, and creator economies. Built on Ethereum’s OP Stack, it has processed over 70 million transactions and hosts 62 dApps, including partnerships with Bandai Namco and Gaudiy.
Analysis & Commentary:
With Soneium, Sony is not just experimenting with blockchain; it’s reimagining digital ownership in entertainment. By targeting high-volume use cases—gaming items, fan tokens, event ticketing—Sony leverages its brand authority to accelerate Web3 adoption. Yet mainstream uptake hinges on seamless user experiences: integrated wallets, intuitive NFT management, and clear value for collectors. If Sony can mask blockchain’s complexity behind familiar interfaces, Soneium could become the template for corporate-led Web3 platforms.
Source: CCN
3. ASIC Sues Former Blockchain Global Exec Over $20M in Claims
Summary: The Australian Securities and Investments Commission (ASIC) filed civil proceedings against former Blockchain Global director Liang “Allan” Guo for allegedly misusing over A$20 million of ACX Exchange customer funds and breaching directors’ duties.
Analysis & Commentary:
This lawsuit highlights the regulatory imperative to protect retail crypto investors. As exchanges fail, the lack of segregated custodial accounts leaves users exposed to directors’ mismanagement. ASIC’s aggressive stance sends a clear signal: exchange governance and financial controls are non-negotiable. Blockchain firms must prioritize transparent accounting, regular audits, and robust compliance frameworks—or risk severe legal consequences.
Source: Decrypt
4. Australian Regulator Takes Guo to Court: Cointelegraph’s Perspective
Summary: Cointelegraph reports ASIC’s civil case against Allan Guo, focusing on alleged false statements and improper fund co-mingling at ACX Exchange, which left over A$22.7 million in creditor claims.
Analysis & Commentary:
Cointelegraph’s coverage underscores a broader trend: jurisdictional enforcement is catching up with crypto’s borderless nature. By spotlighting both Guo’s departure from Australia and the court’s pursuit, the story reinforces that geographical escape won’t shield executives from liability. Going forward, global crypto platforms must embed compliance in governance structures rather than treating it as an afterthought.
Source: Cointelegraph
5. DMG Blockchain Enables Carbon-Neutral Bitcoin Transactions
Summary: DMG Blockchain Solutions, via its subsidiary Systemic Trust Company and Terra Pool, now offers regulatory-compliant, carbon-neutral Bitcoin transactions using Fireblocks custody infrastructure and green energy-backed mining pools.
Analysis & Commentary:
By integrating carbon-neutral protocols into custody and settlement, DMG addresses the sustainability critique of Bitcoin. Financial institutions increasingly demand ESG-aligned crypto services; DMG’s offering could capture that market. The challenge lies in quantifying and auditing green claims, ensuring the offset mechanisms are transparent and verifiable. If DMG nails this, carbon-neutral Bitcoin may shift from niche demand to mainstream expectation.
Source: GlobeNewswire
Conclusion
Today’s stories illustrate how blockchain’s frontiers—from tokenized commodities and corporate Web3 platforms to regulatory crackdowns and green coin initiatives—are rapidly expanding. Key takeaways:
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Tokenization’s next wave: Hard assets like uranium may redefine DeFi’s scope.
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Enterprise blockchains: Sony’s Soneium could blueprint corporate-run layer-2 networks.
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Regulatory rigor: ASIC’s actions against Guo reinforce that compliance and fund segregation are mandatory.
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Sustainable crypto: Carbon neutrality in Bitcoin transactions is evolving from buzzword to business imperative.
Stay tuned for tomorrow’s Blocks & Headlines, where we’ll bring you the latest strategic partnerships, technological breakthroughs, and policy updates driving the blockchain revolution.
The post Blocks & Headlines: Today in Blockchain – May 28, 2025 (Angermayer, Soneium, ASIC, Guo, DMG) appeared first on News, Events, Advertising Options.
Blockchain
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