Telegram has initiated a crackdown on a suspected $8 billion Chinese cryptocurrency marketplace operating in Colorado, which is believed to be involved in illegal activities. The enforcement action reflects the ongoing efforts by platforms to combat illicit use of their services, particularly in the fast-evolving world of cryptocurrency where scams and illegal trading practices are prevalent. Authorities are focusing on unregulated exchanges and peer-to-peer trading methods that allow for anonymous transactions, making it challenging to track illegal activities.

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