According to CoinMeta, as reported by bitcoincom, Luxembourg's "Act No. 8722" was unanimously passed by the parliament in July and will come into effect on August 8th. It authorizes financial intelligence agencies ( FIU ) to issue cross-institutional anti-fraud warnings to domestic cryptocurrency exchanges, banks, and payment institutions to assist in freezing suspicious accounts and related funds. The act stems from a case in 2024 where a charitable organization Caritas suffered fraud of over 70 million US dollars. That year, the Luxembourgish police recorded a total of 6,382 fraud cases, with fraud reports submitted by financial professionals increasing by 32% year-on-year to more than 18,000 cases.