China’s Stablecoin Warnings, Korea’s Crypto Scams and More
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Former Chinese language central financial institution chief Zhou Xiaochuan warns in opposition to stablecoin adoption, citing systemic dangers. Korean crypto voice phishing circumstances surged 6.6-fold this 12 months. Extra developments throughout APAC markets proceed to reshape the digital asset panorama.
Former PBoC Chief’s Stablecoin Warning
Former Individuals’s Financial institution of China Governor Zhou Xiaochuan issued comprehensive warnings in opposition to stablecoin adoption in China. Zhou’s detailed evaluation, printed by the CF40 suppose tank, outlined a number of dangers from a central banking perspective. His remarks straight problem rising calls from coverage advisers to embrace digital currencies.
Zhou recognized two major central financial institution considerations about stablecoins: first, “forex over-issuance,” the place operators lack real 100% reserves when issuing stablecoins, and second, excessive leverage amplification results that create financial by-product multiplier impacts throughout circulation. He criticized inadequate regulatory frameworks within the US GENIUS Act and Hong Kong ordinances.
The previous governor questioned whether or not full tokenization might successfully change account-based fee methods. Additionally, Zhou warned in opposition to extreme use in asset hypothesis, citing fraud dangers and monetary instability. He expressed concern about threats to China’s capital controls and financial sovereignty.
Crypto Voice Phishing Surge in Korea
South Korean voice phishing scams utilizing cryptocurrency have skyrocketed dramatically this 12 months. Police information exhibits 420 crypto-related voice phishing circumstances occurred from January to July 2025, a 6.6-fold enhance in comparison with 64 circumstances throughout the identical interval final 12 months.
Scammers usually impersonate prosecutors or monetary officers, claiming victims’ accounts have been compromised. They demand cryptocurrency purchases value a whole bunch of hundreds of thousands of gained for “asset verification.” Current circumstances concerned victims shedding 190 million gained every in Tether and Bitcoin transfers.
BeInCrypto’s Asian Protection
Thailand launched the world’s first publicly supplied tokenized authorities bond with KuCoin partnership.
MetaPlanet faces challenges as Japan’s regulatory adjustments threaten its Bitcoin proxy premium technique.
US and Chinese language apps harvest European information regardless of strict privateness legal guidelines, blockchain provides potential options.
Japan’s FSA proposes 2026 crypto tax reforms together with 20% flat charge and loss carryforward provisions.
Extra Highlights
A whale wiped out Hyperliquid’s XPL order ebook, sending costs up 200% in minutes.
MEXC denies freezing dealer’s $3.1 million for profitability, cites threat management measures as a substitute.
Coinbase restricts delicate roles to US residents amid North Korean infiltration considerations.
Crypto whales accumulate ARB, UNI, and PEPE tokens positioning for potential September good points.
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