CoinVoice has learned that, according to a report by Cointelegraph, Cifas CEO Mike Haley pointed out that the amount of cryptocurrency fraud in 2024 is expected to reach $9.9 billion, with 90% of UK crypto applications failing anti-money laundering checks. Experts suggest that the crypto industry should emulate traditional finance by establishing cross-industry data sharing mechanisms to address the increasingly severe fraud issues.

The UK's Information Commissioner's Office recently made it clear that data protection should not be an obstacle to combating fraud. With the introduction of the '2025 Data Use and Access Act', the UK is creating a favorable policy environment for data sharing in the crypto industry. [Original link]