SBI Group to acquire Japanese exchange Bitbank for $289 million
SBI Group is buying Japanese crypto exchange Bitbank for 46.7 billion yen ($289 million), a deal that will push SBI's combined crypto assets under custody past 1 trillion yen ($6.2 billion) and make it Japan's largest crypto business. The acquisition, reported by Nikkei, will see SBI's subsidiary purchase shares from founders and individual shareholders in August, followed by Bitbank buying out existing investors Mixi and Ceres by October. Together with SBI VC Trade, the merged entity will boast around 2.92 million accounts and approximately 1.1 trillion yen in custody assets. SBI had disclosed in May that it was in talks to make Bitbank a subsidiary.
Indonesia tightens rules for crypto influencers, mandates certification
Indonesia's Financial Services Authority (OJK) is requiring financial influencers, including those in crypto, to disclose paid promotions and obtain licenses for recommended assets, with firms held liable for influencer marketing. The move aims to boost financial literacy and consumer protection, following a 5.4 billion rupiah ($300,000) fine imposed on an influencer for stock manipulation in February. Crypto influencers must now hold specific certifications, as Indonesia, a major market in Southeast Asia, steps up oversight of digital asset promotions.
Ripple's RLUSD stablecoin launches in Japan with FSA approval
Ripple and SBI Holdings have officially launched the RLUSD stablecoin in Japan after winning approval from the Japan Financial Services Agency. Available through SBI VC Trade's VCTRADE platform, RLUSD is classified as a new electronic payment instrument under Japan's Payment Services Act, tailored for regulatory and security standards for foreign-issued stablecoins. Ripple's stablecoin senior vice president described it as a crucial step for expanding regulated dollar stablecoin access for Japanese institutions and corporations, with use cases spanning payments, tokenization, and collateral management.
Iranian entities routed $3.84 billion through Asian exchange CoinEx, WSJ reports
Iranian entities have conducted over $3.84 billion in transactions through cryptocurrency exchange CoinEx, according to a Wall Street Journal analysis of public blockchain data. The investigation traced funds from North Korean hackers who stole $1.5 billion from Bybit to digital wallets linked to Iran's central bank, which then moved the assets through a complex transaction maze to CoinEx. The Hong Kong-headquartered exchange has become a key conduit for Iran to bypass broad US economic sanctions, the report says.
South Korea fines Bithumb $151,000 for unauthorized overseas data transfers
South Korean crypto exchange Bithumb has been fined 210 million won ($151,000) for transferring user personal data overseas without proper consent, according to the Personal Information Protection Commission. Between September and November last year, Bithumb shared its USDT market orderbook with an overseas exchange, but while it obtained user consent for data transfer to a platform identified as Stellar Exchange, member numbers and order information were actually sent to a different exchange's system. Additionally, Bithumb provided sender and receiver personal information—including names, wallet addresses, and birth dates—to 13 foreign exchanges for anti-money laundering purposes during virtual asset transfers.
China's top prosecutor reveals major drug money laundering case using crypto
China's Supreme People's Procuratorate disclosed a large cross-border drug trafficking and money laundering case involving over 48 million yuan laundered through virtual currency. At a press conference, the deputy procurator-general said more than 1,200 people were prosecuted for drug-related money laundering from January last year to May this year. In one supervised case, an individual named Li Moubo laundered funds via crypto and was sentenced to death for multiple crimes, signaling a tough stance by Chinese authorities on using digital assets for illicit finance.
Ethereum ETFs log fifth straight day of outflows, draining $30 million
Spot Ethereum ETFs in the US saw total net outflows of $30.24 million on June 24, extending the losing streak to five days, per SoSoValue data. Fidelity's FETH led with $15.69 million in outflows, while BlackRock's ETHA shed $8.08 million. The persistent outflows come amid weak institutional demand and downward price pressure on Ether, which has implications for Asian markets where Ethereum is widely traded and held.
Bitcoin ETFs bleed $469 million, extending outflow streak to five days
Spot Bitcoin ETFs recorded a total net outflow of $469 million on June 24, marking a fifth consecutive day of withdrawals, according to SoSoValue. BlackRock's IBIT suffered the largest single-day outflow at $239 million, while Grayscale's Bitcoin Mini Trust bucked the trend with a $23.56 million inflow. The sustained outflows reflect cautious sentiment that could reverberate across Asian trading desks.
$10 billion Bitcoin options expiry on Friday may deepen sell-off
About $10 billion in notional Bitcoin options are set to expire on Deribit this Friday, representing roughly 37% of current open interest, Bloomberg reports. The put-call ratio stands at 0.83, showing bullish bets still dominate, but most call options are now out-of-the-money while puts are concentrated between $60,000-$65,000 and $70,000-$75,000, meaning bearish wagers are more likely to pay off. With Bitcoin hovering near critical support, the expiry could amplify downside volatility and impact Asian spot and derivatives markets.
