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China crypto crackdown sees over 1,100 arrested

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Police in China have arrested over 1,100 people on money-laundering charges, claiming they used cryptocurrency to help them evade the law. 

The arrests come as authorities in China step up their crackdown on cryptocurrency trading.

Reports say the money launderers charged their criminal clients a commission of 1.5% to 5% to convert illegal proceeds into virtual currencies via crypto exchanges.

Last month, three industry bodies banned crypto-related financial and payment services, and the State Council vowed to clamp down on Bitcoin mining and trading.

The public security ministry confirmed police had busted more than 170 criminal groups involved in using cryptocurrencies to launder money.

The money launderers charged their criminal clients a commission of 1.5% to 5% to convert illegal proceeds into virtual currencies via crypto exchanges.

China continues crackdowns

China’s State Council ordered a tough crackdown on telco fraud in October 2020.

Executives from two of the largest crypto exchanges that provide services to Chinese investors assisted police with their inquiries.  

Anthony Lucas is reporter, presenter and social media producer with ticker News. Anthony holds a Bachelor of Professional Communication, with a major in Journalism from RMIT University as well as a Diploma of Arts and Entertainment journalism from Collarts. He’s previously worked for 9 News, ONE FM Radio and Southern Cross Austerio’s Hit Radio Network. 

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FAA uncovers Boeing quality control issues

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The Federal Aviation Administration disclosed concerning findings from its 737 MAX production audit involving Boeing and supplier Spirit AeroSystems.

The audit uncovered multiple instances where the companies allegedly failed to adhere to manufacturing quality control standards.

The FAA highlighted significant “non-compliance issues” within Boeing’s manufacturing processes, including concerns related to parts handling, storage, and product control.

While a summary of the audit findings has been shared with the companies involved, the details have not been made public due to the ongoing nature of the investigation.

Following a mid-air emergency on January 5 involving a new Alaska Airlines 737 MAX 9, where a door plug was lost at 16,000 feet, the FAA initiated the audit.

This incident prompted a temporary grounding of the MAX 9 and raised questions about the aircraft’s safety protocols.

New acquisition

Boeing, in response to these revelations, has been in discussions to acquire Spirit AeroSystems.

However, the company has not provided immediate comment regarding the audit findings.

FAA Administrator Mike Whitaker emphasized the necessity for Boeing to implement comprehensive corrective measures to address what he termed as “systemic quality-control issues.”

Whitaker stated that Boeing must commit to substantial improvements, with clear milestones and expectations set forth by the FAA.

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Can U.S. Moon lander Odysseus recover from it’s dormancy?

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The U.Ss moon lander Odysseus has gone dormant just a week after its somewhat lopsided touchdown on the lunar surface.

The mission, which aimed to conduct various experiments and collect valuable data, encountered an unexpected setback as the spacecraft’s systems initiated a dormant state.

Engineers and scientists at the space agency are working around the clock to analyze the situation and determine the cause of this unforeseen development.

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Trump wins disqualification case at U.S. supreme court

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Former President Donald Trump has emerged triumphant in the Colorado ballot disqualification case, as the United States Supreme Court upheld the decision in his favour.

The ruling marks the conclusion of a contentious legal battle that began when Colorado sought to disqualify Trump from its ballot during the previous election.

The Supreme Court, in a close decision, sided with Trump, asserting that the grounds for disqualification lacked substantial evidence and did not meet the necessary legal criteria. #ticker today #featured

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