As Cointelegraph reports, citing sources in the High Court of Hong Kong, the mechanism for sending tokenized notices to owners of anonymous wallets has been approved at the legislative level, and its use may become a precedent for new court decisions.
The traditional method of serving legal documents is personal service. Some jurisdictions also allow documents to be sent by certified mail, email, or fax. The request to freeze 2.65 million USDT was the first time the tokenized notification mechanism was used.
Thus, two owners of crypto wallets issued on the Tron blockchain were notified that after receiving a court notice, all outgoing crypto transactions will be considered a criminal offense, and exchanges will be required to block their financial transactions.
However, by the time the tokenized court orders reached the recipients, the owners of crypto wallets, suspected of fraud and theft of 2.65 million USDT, had already withdrawn part of the assets, transferring them to exchanges.
Earlier, the Hong Kong Monetary Authority (HKMA) announced that all foreign crypto companies that do not have a banking license are prohibited from using the word “bank” and its derivatives in advertising their products or services.
Source: Bits
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