Ridiculous cryptographic scam “Chinese Mint”, Japan plunges into stabbed: Asia Express

The ban on Chinese cryptography has not stopped this ridiculous program

A new type of crypto scam has surfaced in China, with fraudsters pretending to be China Banknote Printing and Mint Corporation (CBPMC) to sell cryptocurrency via fake websites and applications.

For those who know the regulation of Chinese cryptography, this program may seem ridiculous. The country has banned several activities related to crypto, including trade and mining, and officially recognizes only its fiduciary currency, the renminbi, as a legal assistant. The idea that the entity very supported by the state responsible for the impression of this fiduciary currency would launch a crypto only adds to the oddity of the crime.

In response, CBPMC issued a public warning via its official WeChat channel, declaring that it had never sold virtual currency via any platform. The company urged the public to remain cautious and to avoid falling into fraudulent plans.

Apart from China, crooks hacked the official pages X belonging to government representatives and agencies to promote the same token. To further complicate the questions for the victims without distrust, some presidents, including US President Donald Trump, recently launched their own same, which makes this idea formerly more plausible.

The CBPMC, which operates under the Banque Populaire de China (PBOC), is responsible for printing and typing tickets, documents and security documents in the country. The PBOC has long been one of the most vocal opponents of cryptocurrencies, focusing on the development of its own digital currency from the Central Bank (CBDC), the digital yuan. He sees one of the main advantages of the CBDC is his ability to fight fraud, as is the way in which centralized stabbing transmitters – such as Tether – can freeze portfolios linked to illicit activities.

However, the digital yuan has become an ingredient for the crooks with which to play with. In February 2024, the Chinese Ministry of Industry and Information Technologies warned against a false digital application in Yuan which looked closely at the official version, continuing a trend that started in 2021. local media have found that these scams have become more and more sophisticated, fraudsters pretending to be banks and government representatives to promote counterfeit requests and fraudulent investment plans.

Japan bet on stablecoins can unlock 14 billions of dollars in household savings

Japan makes significant progress in the adoption of Stablescoin, with a progressive emerging as a key player in the country’s regulated digital asset ecosystem, according to a new report by the research and advice firm Yuri Group.

The Japanese government considers stablecoins as a potential catalyst to unlock the $ 14 dollars in the country of household savings, the Yuri group said in its report. Formerly a pioneer in the adoption of cryptocurrency, Japan’s enthusiasm has cooled due to previous security violations and market slowdowns. However, the stablecoins offering greater financial stability, the country hopes to restore confidence and lead a broader adoption of digital assets.

Progmat is supported by a consortium of large Japanese financial institutions and technological companies. It is property structure Includes Mitsubishi UFJ (MUFG), the largest financial institution in Japan, which has a 49%participation, and SBI PTS Holdings, a subsidiary of the SBI group, which holds 5%, alongside other national leaders. The SBI Crypto arm, SBI VC Trade, recently announced that it expects to appear among the first financial platforms in Japan to offer an Crypto-money exchange in USDC.

An important step for Progmat occurred in February when Toyota announced his first security token obligation on the platform. Progmat also associated with Wealth Realty Management, which is committed to using the platform for digital securities backed by real estate – a class of assets which represents 89% of the Japan security tokens market, according to Yuri Group.

The Stablecoin of Progmatus is designed to align with the regulatory requirements of Japan, which oblige reserve support 1: 1 for the stablescoins emitted. Unlike decentralized alternatives, new stablecoin approaches focus on collaboration between private issuers and trusted banks, ensuring secure reserve assets to minimize customer risk. This model maintains the largest financial institutions in Japan at the center of its digital finance transformation.

While Japan was a first leader in the stablescoin regulation, implementing its first rules in 2022, the progress has stalled, and no stablecoins was available in trade until the end of 2024. Progmat is now seeking to fill this gap, offering a regulated and secure platform in an industry historically vulnerable to hacks and fraud.

The former president of Bithumb free walking

The South Korean Supreme Court confirmed the acquittal of the former president of Bithumb, the president of Bithumb, Lee Jung-Hoon, rejecting the accusation appeal on the accusations of fraud worth around 110 billion Korean Won ($ 75.5 million).

This decision finalizes the decisions of the first trial and the Court of Appeal, which had previously recognized it not guilty.

The Supreme Court announced the decision on March 13, saying that there was not enough evidence to condemn Lee. The case revolved around allegations that Lee missed the president of the medical group BK Kim byung-Gun in 2018 by promising to list BXA, BXA, as part of a joint acquisition and management project.

Lee was charged without detention in July 2021 by the Office of Prosecutors of the Central District of Seoul, but the courts at all levels ruled in his favor, citing the lack of conclusive evidence. Lee left Bithumb before his legal proceedings. In December 2022, the greatest shareholder chief in Bithumb, Park Mo, was found dead after receiving allegations of embezzlement and manipulation of stock prices.

Cebu Pacific takes off in Algorand

Cebu Pacific Air, the largest airline in the Philippines in volume of passengers, should integrate blockchain technology into its operations thanks to a partnership with Travex, a blockchain platform built on Algorands.

Travelx specializes in blockchain solutions for the air transport industry, offering services such as plane tickets based on NFT and seats management systems powered by blockchain. The company has already teamed up with several low -cost carriers, including Flybondi Argentina and Viva and Voaris in Mexico.

As a low -cost carrier, Cebu Pacific dominates interior air trips in the Philippines, an archipelago nation of more than 7,000 islands. Its new partnership with Travelx is expected to be launched in T2 2025 and will focus on managing post-reservation income, according to the Algorand Foundation.

The volume of CEBU Pacific passengers exceeded the pre-pale levels in 2024, piloting 24.5 million passengers that year, which leads the nation, according to the civil aeronautics board.