1. Multiple Mt. Gox Creditors in Japan Confirm Receipt of BTC and BCH Settlements link

According to reports on Reddit forums, users have indicated that Bitbank has received BTC and BCH, with the amounts received matching exactly what is shown in Mt. Gox’s documentation. The funds have been deposited into Bitbank’s or Kraken’s exchange accounts, with BCH displaying as BCC in Bitbank accounts. Creditors’ reports indicate that Bitbank completed the receipt of Mt. Gox’s bitcoins within a few hours, far ahead of the full 14-day period.

Former CEO of Mt. Gox, Mark Karpelès, has posted confirming that Mt. Gox customers have begun to receive their bitcoins after more than a decade of waiting, marking a significant milestone in this long process.

2. Russia Considers Permanent Legalization of Cross-Border Stablecoin Payments link

The “Izvestia” newspaper quotes a report from the Russian Central Bank stating that the Russian government is considering formal legalization of stablecoins for international transactions to simplify cross-border payments for Russian companies. According to the report, the Central Bank of the Russian Federation (CBR) is actively discussing proposals to allow the use of these crypto assets, which are pegged to stable currencies like the US dollar or assets like gold, thereby reducing volatility compared to other cryptocurrencies. CBR Deputy Chairman Alexey Guznov confirmed this initiative, emphasizing the primary focus on regulating the entire transaction chain, from bringing these assets into Russia to accumulating and utilizing them for cross-border payments. Guznov noted that this could be established as a permanent regulation rather than a temporary experiment.

3. South Korea Strengthens Cryptocurrency Regulation, Cracks Down on Trading Fraud link

South Korean regulatory authorities are intensifying pressure on local cryptocurrency exchanges, requiring them to root out suspicious transactions as part of efforts to strengthen investor protection under the new digital asset law set to take effect later this month. The Financial Supervisory Service (FSS) of South Korea stated in a Thursday announcement that they are establishing a system to monitor abnormal cryptocurrency trading activities. Exchanges are advised to provide data and information to this system to ensure compliance with legislation effective from July 19. Warning signs include trading volumes and prices exceeding normal ranges, unusually large trade volumes, and exceptionally slow execution speeds.

4. Hong Kong’s SFC Warns XTCQT and Seven Entities Suspected of Virtual Asset Fraud link

The Securities and Futures Commission (SFC) of Hong Kong has issued a warning to the public regarding seven entities suspected of engaging in fraudulent activities claiming to be related to virtual assets. These entities operate under the following names: XTCQT, CEG, BTEPRO, Bitones.org, Yomaex Crypto Market Limited (also known as “Yomaex”), Bstor (also known as “Bstorest”), and Taurusemex. The SFC stated that these entities claim to provide cryptocurrency trading services, with some using social media platforms or instant messaging apps to direct investors to their respective websites to register as cryptocurrency investors. These entities and their websites were listed on the SFC’s alert list for suspicious virtual asset trading platforms as of July 5, 2024.

5. Taiwan’s Second Largest Telecom Operator, “Taiwan Mobile,” Takes Over Cryptocurrency Exchange link

The latest update on the Taiwan Financial Supervisory Commission website reveals that Taiwan’s second-largest telecommunications operator, Taiwan Mobile, with Lin Zhi Chen as its CEO, is now responsible for “Fusheng Digital Co., Ltd.,” serving as its legal representative. Fusheng Digital Co., Ltd. has become the 26th registered Virtual Asset Service Provider (VASP) in Taiwan and has consequently joined the VASP association. This marks Taiwan Mobile’s entry into the cryptocurrency exchange sector.

ZetaChain's new Universal Loyalty and Rewards Layer crosses 1,000,000 members! The product update comes before the first XP airdrop distributions from a 10,000,000 ZETA pool. Learn how to build XP Status; gain access to Rewards. Sponsored by ZetaChain

6. The Mainland of China’s Regulatory News This Week

6.1 Beijing Scholar Urges Urgency in Hong Kong’s Pilot of Cryptocurrency link

Zhang Xiaojing, Director of the Institute of Finance at the Chinese Academy of Social Sciences, emphasized in an interview with Ta Kung Pao that once the regulatory framework for cryptocurrencies is established in the United States, there could be a global rush to emulate it. Zhang suggested that China should also explore this field; otherwise, it risks losing initiative in the digital asset sector. He highlighted the importance for Hong Kong to undertake significant pilot projects in the areas of digital assets and cryptocurrencies, stressing that Hong Kong still lags behind the United States in this regard. Zhang stressed the urgency of the matter, noting that Hong Kong is currently best positioned to lead in areas such as financial technology, digital finance, and the future tokenization of assets, which could significantly bolster its role as a financial powerhouse.

6.2 Lanzhou Police Dismantle Money Laundering Criminal Gangs Using Virtual Currency Fraud, Arrest 15 Suspects link

The Lanzhou police have dismantled a money laundering criminal gang that used virtual currencies for fraud, arresting 15 suspects. The gang targeted potential victims through social platforms and dating websites, establishing trust and then exploiting emotions and investment temptations to persuade victims to register on designated digital platforms and use virtual currencies for recharging. Subsequently, the gang laundered the received USDT through platform transactions, converting it into other forms of funds or currencies, potentially involving multiple accounts and trading platforms to conceal the flow of funds. The case is currently under further investigation.

7. Two Chinese Nationals Kidnapped and Killed in the Philippines, Kidnappers Demanded 15 Million RMB Worth of USDT link

Recently, two Chinese nationals were kidnapped and tragically killed in the Philippines, prompting an investigation involving authorities from three countries. Currently, the families are awaiting autopsy results and further progress in the investigation. The victims, who worked in the medical device industry for different companies, included one Chinese citizen (Mr. Xia) and one Chinese-American (Mr. Sun). They were kidnapped shortly after arriving in the Philippines and were discovered deceased on June 24th. The kidnappers demanded a ransom of 15 million RMB from Mr. Sun’s family, to be converted into USDT cryptocurrency and transferred to a specified account. However, Mr. Sun’s family did not pay the ransom. Mr. Xia’s family also received similar demands and paid a ransom of 3 million RMB.

8. ​Indian Cryptocurrency Exchange CoinDCX Acquires Dubai-based BitOasis link

CoinDCX, India’s leading cryptocurrency exchange, has acquired BitOasis, a cryptocurrency trading platform based in Dubai. The acquisition amount has not been disclosed. BitOasis recently obtained a brokerage license to operate in Bahrain and also holds a license in its home country, the United Arab Emirates. CoinDCX, with over 15 million users, is one of the most prominent cryptocurrency exchanges in India.

9. Paxos Receives Approval from the Monetary Authority of Singapore, Partners with DBS Bank to Issue Stablecoin link

Paxos has obtained approval from the Monetary Authority of Singapore (MAS) to issue stablecoins under Singapore’s stablecoin framework. Paxos’s Singapore entity, Paxos Digital Singapore Pte. Ltd., will be permitted to operate as a major payment institution providing “digital payment token services.” Additionally, Paxos is collaborating with DBS Bank to meet cash management needs and to custody stablecoin reserves.

10. SBI Partners with South Korea’s Kyobo to Explore Tokenization link

Japanese securities and banking giant SBI Group has announced a collaboration with South Korean Kyobo Life Insurance Group. The focus of this partnership is to enhance digital finance through technology, particularly in the area of Security Token Offerings (STOs). Tokenization aims to make the investment process more efficient and transparent.

Follow us
Twitter: https://twitter.com/WuBlockchain
Telegram: https://t.me/wublockchainenglish