Asia Express | Crypto

XRP has the highest returns of any asset class in Thailand so far this year, Shanghai court sells seized Filecoin, and more: Asia Express. XRP delivered the strongest returns among all major asset classes in Thailand, soaring 390% year-on-year in August, according to the Thai Securities and Exchange Commissions latest digital asset market report. The XRP token has now topped the SECs performance rankings for nine consecutive months, outpacing gold, equities and other benchmarks listed in the regulators database. Solana was the last asset other than XRP to top Thailands chart. Bitcoin and Ethereum rounded out the top three performers in August. Thailands cryptocurrency market continues to expand. Monthly trading volume rose 2.05% to 299.4 billion baht (about US$8.2 billion), while the number of active accounts increased 8.44% to 230,000. Retail investors made up the largest share of trading at 42%, followed by institutional investors (21%), juristic persons (18%) and foreign investors (16%). Read more

XRP has the highest returns of any asset class in Thailand so far this year, Shanghai court sells seized Filecoin, and more: Asia Express. XRP delivered the strongest returns among all major asset classes in Thailand, soaring 390% year-on-year in August, according to the Thai Securities and Exchange Commissions latest digital asset market report. The XRP token has now topped the SECs performance rankings for nine consecutive months, outpacing gold, equities and other benchmarks listed in the regulators database. Solana was the last asset other than XRP to top Thailands chart. Bitcoin and Ethereum rounded out the top three performers in August. Thailands cryptocurrency market continues to expand. Monthly trading volume rose 2.05% to 299.4 billion baht (about US$8.2 billion), while the number of active accounts increased 8.44% to 230,000. Retail investors made up the largest share of trading at 42%, followed by institutional investors (21%), juristic persons (18%) and foreign investors (16%). Read more

XRP has the highest returns of any asset class in Thailand so far this year, Shanghai court sells seized Filecoin, and more: Asia Express. XRP delivered the strongest returns among all major asset classes in Thailand, soaring 390% year-on-year in August, according to the Thai Securities and Exchange Commissions latest digital asset market report. The XRP token has now topped the SECs performance rankings for nine consecutive months, outpacing gold, equities and other benchmarks listed in the regulators database. Solana was the last asset other than XRP to top Thailands chart. Bitcoin and Ethereum rounded out the top three performers in August. Thailands cryptocurrency market continues to expand. Monthly trading volume rose 2.05% to 299.4 billion baht (about US$8.2 billion), while the number of active accounts increased 8.44% to 230,000. Retail investors made up the largest share of trading at 42%, followed by institutional investors (21%), juristic persons (18%) and foreign investors (16%). Read more

XRP has the highest returns of any asset class in Thailand so far this year, Shanghai court sells seized Filecoin, and more: Asia Express. XRP delivered the strongest returns among all major asset classes in Thailand, soaring 390% year-on-year in August, according to the Thai Securities and Exchange Commissions latest digital asset market report. The XRP token has now topped the SECs performance rankings for nine consecutive months, outpacing gold, equities and other benchmarks listed in the regulators database. Solana was the last asset other than XRP to top Thailands chart. Bitcoin and Ethereum rounded out the top three performers in August. Thailands cryptocurrency market continues to expand. Monthly trading volume rose 2.05% to 299.4 billion baht (about US$8.2 billion), while the number of active accounts increased 8.44% to 230,000. Retail investors made up the largest share of trading at 42%, followed by institutional investors (21%), juristic persons (18%) and foreign investors (16%). Read more

XRP has the highest returns of any asset class in Thailand so far this year, Shanghai court sells seized Filecoin, and more: Asia Express. XRP delivered the strongest returns among all major asset classes in Thailand, soaring 390% year-on-year in August, according to the Thai Securities and Exchange Commissions latest digital asset market report. The XRP token has now topped the SECs performance rankings for nine consecutive months, outpacing gold, equities and other benchmarks listed in the regulators database. Solana was the last asset other than XRP to top Thailands chart. Bitcoin and Ethereum rounded out the top three performers in August. Thailands cryptocurrency market continues to expand. Monthly trading volume rose 2.05% to 299.4 billion baht (about US$8.2 billion), while the number of active accounts increased 8.44% to 230,000. Retail investors made up the largest share of trading at 42%, followed by institutional investors (21%), juristic persons (18%) and foreign investors (16%). Read more

XRP has the highest returns of any asset class in Thailand so far this year, Shanghai court sells seized Filecoin, and more: Asia Express. XRP delivered the strongest returns among all major asset classes in Thailand, soaring 390% year-on-year in August, according to the Thai Securities and Exchange Commissions latest digital asset market report. The XRP token has now topped the SECs performance rankings for nine consecutive months, outpacing gold, equities and other benchmarks listed in the regulators database. Solana was the last asset other than XRP to top Thailands chart. Bitcoin and Ethereum rounded out the top three performers in August. Thailands cryptocurrency market continues to expand. Monthly trading volume rose 2.05% to 299.4 billion baht (about US$8.2 billion), while the number of active accounts increased 8.44% to 230,000. Retail investors made up the largest share of trading at 42%, followed by institutional investors (21%), juristic persons (18%) and foreign investors (16%). Read more

XRP has the highest returns of any asset class in Thailand so far this year, Shanghai court sells seized Filecoin, and more: Asia Express. XRP delivered the strongest returns among all major asset classes in Thailand, soaring 390% year-on-year in August, according to the Thai Securities and Exchange Commissions latest digital asset market report. The XRP token has now topped the SECs performance rankings for nine consecutive months, outpacing gold, equities and other benchmarks listed in the regulators database. Solana was the last asset other than XRP to top Thailands chart. Bitcoin and Ethereum rounded out the top three performers in August. Thailands cryptocurrency market continues to expand. Monthly trading volume rose 2.05% to 299.4 billion baht (about US$8.2 billion), while the number of active accounts increased 8.44% to 230,000. Retail investors made up the largest share of trading at 42%, followed by institutional investors (21%), juristic persons (18%) and foreign investors (16%). Read more

Thailand’s SEC probes a major mystery crypto hack hidden for years. Chinese property developer turns back to blockchain. Asia Express. Thailands Securities and Exchange Commission (SEC) said it is reviewing reports circulating on social media that claim a major local cryptocurrency exchange was hacked. On Sunday, Thai social media channel The Big Secret posted an image of what it described as an internal document detailing a large-scale breach. The document, which has not been verified, had its date and related blockchain addresses redacted. Following the post, several exchanges issued statements assuring customers that their assets remain safe. The exchange allegedly involved has not been publicly identified. Read more

Thailand’s SEC probes a major mystery crypto hack hidden for years. Chinese property developer turns back to blockchain. Asia Express. Thailands Securities and Exchange Commission (SEC) said it is reviewing reports circulating on social media that claim a major local cryptocurrency exchange was hacked. On Sunday, Thai social media channel The Big Secret posted an image of what it described as an internal document detailing a large-scale breach. The document, which has not been verified, had its date and related blockchain addresses redacted. Following the post, several exchanges issued statements assuring customers that their assets remain safe. The exchange allegedly involved has not been publicly identified. Read more

South Korean lawmaker’s bill would make ICOs legal again. Chinese state firm deletes posts about $70M worth of RWAs on Ethereum. Asia Express. A South Korean lawmaker has introduced draft legislation to create a framework for cryptocurrencies, including legalizing initial coin offerings (ICOs) and setting rules for stablecoin issuance. The proposal, announced Thursday by ruling Democratic Party lawmaker Lee Kang-il, would lift South Koreas ban on ICOs. The nation banned the fundraising method in 2017 during a speculative frenzy remembered as the ICO boom. The prohibition pushed Korean projects to launch tokens overseas. Lees bill seeks to replace the blanket prohibition with a disclosure-based regime. The draft law defines the digital asset sector as an independent industry, dividing it into nine business categories that include trading, brokerage, custody, payments and investment management. Trading and brokerage firms would require licenses, while other activities would operate under a registration system. ...

South Korean lawmaker’s bill would make ICOs legal again. Chinese state firm deletes posts about $70M worth of RWAs on Ethereum. Asia Express. A South Korean lawmaker has introduced draft legislation to create a framework for cryptocurrencies, including legalizing initial coin offerings (ICOs) and setting rules for stablecoin issuance. The proposal, announced Thursday by ruling Democratic Party lawmaker Lee Kang-il, would lift South Koreas ban enacted in 2017 during a speculative frenzy remembered as the ICO boom. The prohibition pushed Korean projects to launch tokens overseas. Lees bill seeks to replace the blanket prohibition with a disclosure-based regime. The draft law defines the digital asset sector as an independent industry, dividing it into nine business categories that include trading, brokerage, custody, payments and investment management. Trading and brokerage firms would require licenses, while other activities would operate under a registration system. Read more

BTS Jungkook’s identity thief’s crypto scam ring. Ripple and Circle back Singapore stablecoin infrastructure firm. Asia Express A hacking syndicate accused of stealing 39 billion won ($28 million) by targeting wealthy corporate executives and celebrities including BTS member Jeon Jung-kook has been arrested by South Korean police. A Seoul police unit said Thursday it had apprehended 18 suspects who allegedly hacked government agencies, public institutions and IT platforms to obtain personal and financial data from 258 victims, according to local media reports. The stolen information was then used to break into bank, securities and cryptocurrency exchange accounts. Police said the group successfully stole 39 billion won from 16 victims and attempted to defraud another 25 billion won from 10 others, bringing total damages to 64 billion won. Among the victims were three celebrities and two corporate leaders from South Koreas top 100 companies. The largest confirmed theft amounted to 21.3 billion won in crypto. R...

BTS Jungkook’s identity thief’s crypto scam ring. Ripple and Circle back Singapore stablecoin infrastructure firm. Asia Express A hacking syndicate accused of stealing 39 billion won ($28 million) by targeting wealthy corporate executives and celebrities including BTS member Jeon Jung-kook has been arrested by South Korean police. A Seoul police unit said Thursday it had apprehended 18 suspects who allegedly hacked government agencies, public institutions and IT platforms to obtain personal and financial data from 258 victims, according to local media reports. The stolen information was then used to break into bank, securities and cryptocurrency exchange accounts. Police said the group successfully stole 39 billion won from 16 victims and attempted to defraud another 25 billion won from 10 others, bringing total damages to 64 billion won. Among the victims were three celebrities and two corporate leaders from South Koreas top 100 companies. The largest confirmed theft amounted to 21.3 billion won in crypto. R...

The most popular US stocks in South Korea are Ethereum treasuries and crypto companies, Ant Group denies Yuan stablecoin plan. Asia Express. South Korean retail investors are selling off their big tech shares such as Tesla and Alphabet in favor of Ethereum-related stocks, The Korea Economic Daily reported, citing data from the Korea Securities Depository. Tesla has long been a fixture in the top net-buy rankings for Korean retail investors, but it was sold off in the past month with around 1 trillion won ($721.6 million) in net sales. Alphabet and Apple were also heavily sold, with net sales of about 230 billion won ($166 million) and 300 billion won ($216 million), respectively. These retail investors are locally called seohak ants. Seohak translates to Western learning, but in domestic finance lingo, it refers to foreign stock investors. Ants is a local nickname for retail investors, alluding to their small size but large numbers compared to institutional whales. Read more

The most popular US stocks in South Korea are Ethereum treasuries and crypto companies, Ant Group denies Yuan stablecoin plan. Asia Express. South Korean retail investors are selling off their big tech shares such as Tesla and Alphabet in favor of Ethereum-related stocks, The Korea Economic Daily reported, citing data from the Korea Securities Depository. Tesla has long been a fixture in the top net-buy rankings for Korean retail investors, but it was sold off in the past month with around 1 trillion won ($721.6 million) in net sales. Alphabet and Apple were also heavily sold, with net sales of about 230 billion won ($166 million) and 300 billion won ($216 million), respectively. These retail investors are locally called seohak ants. Seohak translates to Western learning, but in domestic finance lingo, it refers to foreign stock investors. Ants is a local nickname for retail investors, alluding to their small size but large numbers compared to institutional whales. Read more

ISPs in the Philippines have blocked access to exchanges including OKX, Bybit and Bitget; Singapore exchange sued by investors: Asia Express. Members of the crypto community in the Philippines say local internet service providers have begun blocking access to several unlicensed cryptocurrency exchanges. The move follows a warning issued Monday by the Securities and Exchange Commission (SEC), which flagged 10 exchanges, including OKX, Bybit, and Bitget, for operating without a license. Several users report they can no longer access these exchanges’ websites, though mobile apps remain functional for now. However, previous enforcement history suggests that app access may also be restricted soon. Read more

China state TV bashes Trump’s crypto policies in 30-minute special. New Telegram dark markets tie with Huione’s infrastructure. Asia Express. CCTV, Chinas state broadcasting mouthpiece, aired a half-hour special on cryptocurrencies and how the US is attempting to solidify dollar dominance with stablecoins. The July 27 broadcast framed the new US stablecoin legislation GENIUS Act, as a geopolitical turning point. CCTV pinpointed that the new rules explicitly ban a Federal Reserveissued central bank digital currency (CBCD) while allowing stablecoins to export US debt in digital form. The broadcaster said stablecoins backed by US Treasury bonds represent the third phase of dollar hegemony after Bretton Woods gold and Middle Eastern oil. In this model, crypto users across the globe become indirect holders of US government debt, while stablecoin issuers emerge as the next generation of bond superbuyers. The program warned that this digital infrastructure could displace weaker currencies. Read more

Wave of fake Solana dev group chats in South Korea follows ETF debut, Indian crypto taxes blamed for coin delistings: Asia Express. All services claiming to offer access to JD.coms stablecoin are fraudulent, the Chinese e-commerce giant said in a statement posted on Weibo, a microblogging platform. JD.com said entities are misleading the public by claiming to have partnered with its Hong Kong subsidiary, JD CoinLink. The company emphasized that it has not issued a stablecoin at this point or formed any such partnerships. Fraudulent campaigns are emerging in parallel, according to multiple WeChat accounts warning against stablecoin scams. Fraudulent campaigns are promising users 5,000 JD.com stablecoins for signing up and additional rewards for referring friends. Read more

Thailand sees 44% fall in Chinese tourists after crypto scam backlash, Japan to urge G7 to tackle North Korean crypto hackers. Asia Express. Chinese academics are warning that the growth of stablecoins is a rising threat to China’s monetary sovereignty by enshrining the global dominance of the US dollar. A commentary in China Economic Times argues that the rise of crypto comes with implications for sovereign credit systems, global governance models and the future of money. China Economic Times is a daily newspaper sponsored by the Development Research Center of the State Council, one of the countrys highest-ranking policy research bodies. Government officials are part of the paper’s main reader base, and commentaries published by the paper often aim to influence or advise on economic strategy. Read more

Chinese state-backed think tank highlights Bitcoin as a reserve asset against USD, Sony’s online bank launches new crypto unit. Asia Express. The International Monetary Institution (IMI), Chinas state-backed finance think tank, has republished an article that quietly elevates Bitcoin in the reserve asset debate. The report by former White House economist Matthew Ferranti, originally published in October by the Bitcoin Policy Institute, argues that Bitcoin can serve as a hedge for central banks in developing economies, particularly those exposed to US dollar weaponization. It was republished by the IMI on its official WeChat account on May 28 with an editorial note stating Bitcoins rise as a reserve asset deserves continued attention. The IMIs editorial note lays out that the appeal of US dollar assets is waning due to deficits, inflation and falling real yields. As a result, gold faces new challenges and Bitcoin is emerging as a serious contender for strategic reserves. Read more