SK C&C to Spearhead Establishment of Korea’s First Alternative Trading System

Taiwan police uncover $320M crypto money laundering operationTaiwan police have recently exposed the largest cryptocurrency money laundering case in the nation’s history, involving 320 million USDT (approximately 10.5 billion New Taiwan dollars).Photo by DrawKit Illustrations on UnsplashCross-border laundering operationIt emerged on Tuesday that the Electronic Investigation Team of the Criminal Bureau initiated their probe after uncovering a fraudulent scheme related to a counterfeit Taishin Securities mobile software last year. This led them to a merchant with the surname Qiu, the alleged mastermind behind this operation who was suspected of laundering substantial sums through virtual currency.Qiu is believed to have maintained connections with overseas gambling and fraud groups, engaging in cross-border communication with illicit organizations in countries including Hong Kong, Malaysia and the Philippines.Their investigation revealed that Qiu had been conducting transactions involving 320 million Tether US dollar stablecoins since February of the previous year. In June, law enforcement apprehended Qiu during one of his visits to Taiwan, along with four alleged accomplices.High value goodsDuring the operation, authorities seized high-value assets from Qiu, including a Lamborghini Urus, a Lexus LM and three Audemars Piguet watches, with a combined market value exceeding TWD 13 million. The lavish lifestyle maintained by Qiu, evident from his luxury cars and high-end watches, serves as a stark reminder of the extensive underground economy driven by money laundering.Evidence from the operation suggested Qiu’s involvement in handling illicitly obtained Tether coins worth approximately TWD 70 million. Further investigations uncovered that Qiu regularly sold virtual currency and converted it into cash to effectively obscure the money’s origins, accomplishing the goal of laundering.In piecing the activities of the group together, police determined that victims were instructed to transfer their funds to fictitious accounts. In that way, the money found its way to crypto exchanges and individual crypto traders under the direction and control of the group.Qiu would also retain a 1% profit margin from the laundered amount. Several other individuals were implicated in this extensive operation, including a foreign affairs officer named Liao and two other individuals named Chen and Huang. Each of these individuals is presently under investigation, with varying levels of bail and restrictions imposed.The intricate web of transactions and the substantial amount laundered by Qiu have surpassed previous records held by the Electronic Investigation Team. As investigations continue, law enforcement is determined to uncover the full extent of this operation and trace the entirety of the money flow.Taiwan’s legislators are currently working on producing a regulatory framework for crypto in the country. The only regulatory aspect that is covered right now is oversight relative to anti-money laundering (AML) and know-your-customer (KYC) regulation. In 2018 Yang Chin-long, Taiwan’s central bank Governor, called for a need to regulate crypto on the basis of existing AML rules, with the authorities subsequently following through on that measure.In July 2022, the country’s Financial Supervisory Commission (FSC) penned a letter to the banking sector, banning the purchase of digital assets via credit cards.

Leading cryptocurrency exchange OKX has acquired an in-principle approval from Singapore’s financial regulatory authority for a Major Payment Institution (MPI) license through its local arm, OKX SG.Photo by Mark Stoop on UnsplashEnabling broader service offeringAccording to a blog post published by the company on March 12, OKX confirmed the receipt of in-principle approval for the coveted license. The MPI license, issued by the Monetary Authority of Singapore (MAS), Singapore's primary financial regulatory body, represents an important step forward for the company. Once granted the full license, OKX will be empowered to offer digital payment token services and facilitate cross-border transfers within Singapore. A plethora of OKX executives took to social media to comment on the achievement. Hong Fang, President of OKX, expressed the company's long-standing interest in Singapore, describing it as a cornerstone of its global strategy. Fang emphasized Singapore's appeal to entrepreneurial ventures, citing its tech-savvy populace as early adopters. She praised the country's regulatory framework as "clear and thoughtful," enabling businesses like OKX to cultivate sustainable growth over the long term. With this regulatory approval, OKX intends to concentrate on bolstering its spot product offerings in the Singaporean market. Fang outlined plans to forge local banking partnerships to enhance customer experiences and expand service offerings in the future. In summarizing the company’s outlook, Fang wrote that OKX is looking to “build locally. Be compliant. Invest long-term.” OKX CEO Star Xu suggested that the firm intends to be a “long-term member of the Singapore fintech community” as a consequence of the approval. Global market expansionThe company’s CMO, Haider Rafique, pointed out that this latest license approval follows hot on the heels of further expansion in venues like Dubai, Argentina and Turkey. The in-principle license approval follows OKX's recent acquisition of a conditional license from Dubai’s cryptocurrency regulatory authority. On Jan. 16, the Virtual Assets Regulatory Authority (VARA) of Dubai granted OKX a license, enabling the exchange to provide regulated services as a virtual asset service provider within the region.On Feb. 27 the firm launched OKX TR, catering to the needs of crypto users in Turkey. In the same month, the company launched its services within the Argentinian market. MPI-licensed entities like OKX enjoy the privilege of facilitating multiple payment services, surpassing volume limitations prescribed for standard payment firms. This flexibility allows OKX to transcend the prescribed limits of three million Singapore dollars ($2.2 million) for individual payment services and a monthly cap of SG$6 million ($4.4 million) for multiple services. Joining OKX in the pursuit of regulatory compliance, BitGo, a prominent crypto custody business, also received an in-principle approval from MAS. BitGo announced on Jan. 10 that it had secured initial approval, subject to fulfilling additional requirements stipulated by the regulator. Several other notable cryptocurrency entities, including Crypto.com, Coinbase and Ripple, have already obtained complete payment institution licenses in Singapore. OKX's attainment of in-principle approval underscores the ongoing drive among market participants towards regulatory compliance and expansion into key markets. The move should help the firm to position itself well for further market growth as the digital assets space continues to progress.

Japanese Prime Minister Shigeru Ishiba announced his resignation on Sept. 7, citing completed trade talks with the United States and growing dissent within the ruling Liberal Democratic Party (LDP). While the political transition follows the party’s defeat in July’s upper house elections, Ishiba’s departure also creates uncertainty for Japan’s crypto and Web3 agenda, which he had championed. Just two weeks earlier, at the WebX2025 event, Ishiba pledged stronger state backing for Web3 initiatives, noting their potential for addressing Japan’s demographic challenges and driving long-term economic transformation. He highlighted token-based community governance pilots, integration of Web3 at the Osaka Expo, and a five-year startup growth plan centered on digital industries. His exit now raises questions about whether these priorities will carry the same weight under new leadership.Photo by taro ohtani on UnsplashLeadership contest brings policy uncertaintyPotential successors signal diverging approaches. As per a BeInCrypto report, former Economic Security Minister Sanae Takaichi, who topped an August Nikkei approval survey with 23% support, is regarded as favoring tighter oversight. Agriculture Minister Shinjiro Koizumi, in second place with 8%, has shown greater receptiveness toward digital assets. According to Bloomberg, Finance Minister Katsunobu Kato is also considered a contender. Earlier, he emphasized balancing investor protection with space for innovation, noting the rapid uptake of crypto among Japanese investors. The LDP is preparing for a leadership election on Oct. 4, with 295 lawmakers each casting one vote and an equal 295 votes allocated proportionally to the party’s 1.03 million members, for a total of 590 ballots. Until then, investors and industry players are watching for signals on whether Japan’s digital asset roadmap will remain a priority. Adoption advances beyond politicsBeyond politics, adoption is accelerating across Japan’s financial system. Japan Post Bank plans to tokenize deposits on a permissioned blockchain by 2026 using the DCJPY token developed by DeCurret DCP, a Mitsubishi UFJ–backed venture. With $1.29 trillion in deposits across 120 million accounts, the move could streamline settlement of tokenized securities. Corporate strategies are also shifting. Last month Tokyo-based game developer Gumi said it would acquire 2.5 billion yen ($17 million) worth of XRP between September 2025 and February 2026, following its earlier 1 billion yen ($6.8 million) Bitcoin purchase this year. The company described XRP as central to its expansion into international remittance and liquidity networks led by its largest shareholder, SBI Holdings. Japan’s crypto footprint abroad is growing as well. Coincheck, a leading exchange in Japan, is entering Europe through the acquisition of Aplo, a French-licensed digital asset brokerage. The deal follows Coincheck’s Nasdaq listing last year via its Netherlands-based holding company.