Rowland Marcus Andrade, the founder of cryptocurrency AML Bitcoin, has been sentenced to seven years in prison after being convicted of wire fraud and money laundering. The verdict follows a March conviction by a California jury and was formally announced on July 29, 2025.
According to details from the US Department of Justice, Andrade cheated investors of close to $10 million. Of the total, $2 million was reportedly used for funding his own lifestyle, such as buying properties and luxury cars. Andrade also deceived investors by marketing false representations about AML Bitcoin’s technology and purported partnerships. One of them was that the Panama Canal Authority had signed an agreement to accept payment in AML Bitcoin from canal-passing ships, an agreement it never signed, according to Cointelegraph.
“The defendant made one false claim after another about a sophisticated cryptocurrency offering to create the illusion of a legitimate business. He exploited numerous investors who put their trust in him, not knowing that their hard-earned money was, in fact, funding his lavish lifestyle. Today, Andrade learned the price of his greed,” Cointelegraph quoted San Francisco US Attorney Craig Missakian as saying.
Although federal prosecutors had requested a sentence of 17-and-a-half years, Andrade received a prison term of seven years. The court also ordered him to forfeit assets, which will be used to reimburse the victims. The exact amount to be forfeited will be determined at a restitution hearing scheduled for September 16, 2025.
Indonesia Increases Taxes On Crypto Sellers and Miners, Ends VAT For Buyers
The Indonesian government has revised its taxation rules for the crypto industry, raising levies on sellers and miners while removing value-added tax (VAT) obligations for buyers. Indonesia’s Ministry of Finance issued new regulations, No. 50/2025 and No. 53/2025, on July 29. These rules amend income tax and VAT frameworks and will take effect on August 1, 2025.
The revised framework raises the income tax on crypto asset sales on domestic exchanges from 0.1 per cent to 0.21 per cent. Additionally, the VAT on crypto mining services has been increased from 1.1 per cent to 2.2 per cent.
The government has also abolished the earlier 0.1 per cent special income tax rate for mining. Starting 2026, income from crypto mining will be taxed under existing personal or corporate income tax rules, depending on the taxpayer’s classification.
While tightening taxes for miners and sellers, the Ministry has simultaneously removed VAT on crypto purchases. Under previous rules, buyers were required to pay VAT in the range of 0.11-0.22 per cent. The removal of this burden is seen as a step towards encouraging broader participation in the crypto market.
Crypto Token Unlocks May Drop To $3 Billion In August
Crypto token unlocks are projected to decline significantly in August 2025, falling to approximately $3 billion—down 52 per cent from July’s $6.30 billion, according to data from vesting tracker Tokenomist.
Vincent Kadar, CEO of Polymath, said that investor sentiment around token unlocks is becoming more sophisticated. “Investors are moving past unlocking anxiety to more informed assessments of how tokenomics influences market behaviour,” he said.
Fasttoken is scheduled to unlock $91.60 million in tokens on August 18. However, since more than 94 per cent of its tokens are already in circulation, the market impact is expected to be minimal. Other upcoming unlocks include Aptos (Rs 51.5 million), Avalanche (Rs 40.35 million), and Arbitrum (Rs 39.24 million), all of which are expected around mid-August.
Also, low-float tokens, such as Starknet and Kaito, which will unlock $16 million and $29 million respectively, may face higher volatility due to thinner market depth. However, while total unlock volumes are declining, projects with limited circulating supply and high valuations could still experience notable price swings during unlock periods.
