ASIAAsia Coin

MUFG, SMBC and Mizuho will establish a council to explore operational frameworks and prepare for the issuance of stablecoins.

The BOJ and the Fed are set to have their meetings hours after each other.

South Korea's national police has been battling crypto-enabled crimes from DPRK-state level threats to scams targeting retail investors.

Seoul police returned to Bithumb’s headquarters on Monday, carrying out a second search tied to a corruption probe centered on independent lawmaker Kim Byung-ki and claims that his son’s hiring at the exchange may have come through political pressure. The move came months after the first raid and pushed the case further into public view. Police Return To Bithumb Investigators from the Seoul Metropolitan Police Agency’s public crime team were reported to have arrived at the company’s Gangnam office in the morning, while separate officers also looked into another Bithumb site during the earlier February search. That first sweep took place on Feb. 24, and witnesses from the exchange were later called in again in April. The new search signals that police are still trying to piece together the same set of questions. They want to know whether Bithumb’s records, hiring files and internal messages match the exchange’s public account of the case. Hiring Claims At The Center The main thread running through the investigation is the claim that Kim used his position to help his second son land a job at Bithumb. Reports indicate that Kim made hiring requests between September and November 2024, that the son was hired in early January 2025, and that he stayed at the exchange for about six months. Kim’s committee role gave him oversight of financial and virtual asset policy, which is why investigators are also examining whether his questions to Dunamu, the operator of Upbit, may have been part of a broader effort that created pressure around Bithumb . The probe now covers 13 separate suspicions, including alleged nomination bribery. Questions Still Unanswered Kim has been summoned about seven times over a nine-month span, according to the report, but police have not said the inquiry is finished. Bithumb, for its part, says the hiring followed normal procedures and that no irregularities were found in the process. Local broadcasters moved quickly on the raid, with MBC, KBS and JTBC all carrying accounts of the search within hours. The exchange remains one of South Korea’s biggest trading venues and sits just behind Upbit in the domestic market, with about $576 million in daily volume reported in the story. Bithumb Under Familiar Scrutiny The latest raid also fits into a longer record of run-ins with authorities. The exchange has faced tax checks, fraud-related searches, token-manipulation probes and embezzlement-related raids in past years, making it a frequent target whenever South Korean regulators or police widen their focus. Police disclosed that the wider case is still incomplete and requires further review before any findings are finalized, with no charges filed so far. Investigators added that any new materials gathered from Monday’s search could help accelerate the next phase of the inquiry. Featured image from EPA Images, chart from TradingView

Crypto News Tata Consultancy Services expects to run as many artificial-intelligence agents as human staff within three years, Chairman N Chandrasekaran told the firm's annual general meeting on Tu...

Bybit users who subscribe to the exchange’s new IPO Express product and receive an allocation may be in for a surprise: if the final offering price comes in within 20% of the indicative price they agreed to, their order gets executed automatically, without any additional confirmation required. Related Reading: Security Milestone: XRP Lending Protocol Completes Military-Grade Assessment Launched June 7, IPO Express lets eligible Bybit users subscribe to tokenized representations of IPO shares at the offering price, with SpaceX as its first listing under the token ticker SPCX. Subscriptions run through June 11, with spot trading scheduled to open June 12. What The Token Actually Gives You The product is built on Payward Services’ xStocks platform — Payward being the parent company of Kraken, which has separately opened SpaceX IPO access to retail clients in over 110 countries through the same infrastructure. Each token is backed 1:1 by actual SpaceX equity held in regulated broker-dealer custody, which sets it apart from the synthetic pre-IPO perpetual contracts that Hyperliquid and Binance list, where no underlying shares change hands. But owning SPCX does not make someone a SpaceX shareholder. According to Bybit’s published terms, the tokens confer no voting rights, no dividend rights, and no direct legal or beneficial ownership in SpaceX equity. Holders have no claim against SpaceX itself. What they get is exposure to the economic performance of the share price — and nothing beyond that. Not Everyone Can Get In Access is restricted in two ways. First, the product is limited to Bybit users who have reached VIP or PRO tier status, a threshold typically tied to trading volume or asset holdings, in addition to completing identity verification. Second, the offering is entirely off-limits to residents of the European Economic Area, covering all 27 EU member states plus Iceland, Liechtenstein, and Norway. Bybit states it holds no license or authorization under MiCA or any applicable EEA financial services regime for this product. The exclusion is notable given that SpaceX’s IPO has already shut out investors in mainland China and Hong Kong under US International Traffic in Arms Regulations. The tokenized access path that was positioned as a workaround carries its own exclusions. SpaceX’s IPO has drawn approximately $150 billion in demand against a $75 billion raise, meaning even VIP-tier subscribers who qualify may receive partial allocations. Related Reading: Has The Bitcoin Price Crash Ended Or Is This Just The Beginning? Analyst Answers Funds are frozen from the moment a subscription order is submitted until results are announced, or up to five business days if the event is cancelled. What Comes After SpaceX Bybit’s announcement positions IPO Express as a recurring platform, not a one-time product. Reports indicate that subsequent major IPOs — including potentially OpenAI and Anthropic — could see similar tokenized access products rolled out through Bybit, Kraken, and other xStocks-based platforms. Featured image from Pexels, chart from TradingView

Crypto News Japan's three largest banking groups — MUFG Bank, Mizuho Bank, and Sumitomo Mitsui Banking Corporation — are preparing to jointly issue a yen-pegged stablecoin during fiscal 2026. The l...

BitcoinWorld Japanese Yen Holds Near One-Month Low Against USD as Middle East Tensions Counter Strong PPI Data The Japanese yen remains under pressure, trading near a one-month low against the US dollar, as escalating geopolitical tensions in the Middle East offset the impact of a stronger-than-expected US Producer Price Index (PPI) report. The currency pair USD/JPY has held steady around the 151.50 level, reflecting a market caught between safe-haven flows and monetary policy divergence. Middle East Tensions Fuel Safe-Haven Demand, but Dollar Gains Renewed hostilities in the Middle East have traditionally driven investors toward safe-haven assets like the yen and gold. However, the US dollar has also benefited from its status as a global reserve currency during periods of uncertainty. This dual safe-haven dynamic has limited the yen’s recovery, keeping it near the lower end of its recent range. Analysts note that the yen’s weakness is partly structural, tied to the Bank of Japan’s continued ultra-loose monetary policy stance, which contrasts sharply with the Federal Reserve’s aggressive tightening cycle. Strong US PPI Print Reinforces Hawkish Fed Expectations Thursday’s US PPI data came in above consensus estimates, with the headline figure rising 0.4% month-over-month against a forecast of 0.2%. Core PPI, excluding food and energy, also exceeded expectations. The strong print reinforces the narrative that the Fed may need to keep interest rates higher for longer to combat persistent inflationary pressures. This has pushed US Treasury yields higher, widening the interest rate differential between the US and Japan and further pressuring the yen. Market Implications and Trader Positioning Currency markets are now pricing in a higher probability of another Fed rate hike in the coming months. The yen, meanwhile, remains vulnerable to further losses, especially if the Bank of Japan maintains its yield curve control policy without signaling a near-term shift. Traders are closely watching the 152.00 level for USD/JPY, which represents a key psychological resistance point. A break above this level could trigger a fresh wave of yen selling, potentially prompting verbal intervention from Japanese authorities. Conclusion The Japanese yen’s struggle near a one-month low against the dollar highlights the complex interplay of geopolitical risk, monetary policy divergence, and inflation data. While Middle East tensions provide some support for the yen, the stronger US PPI print and hawkish Fed expectations are keeping the dollar firmly in control. The coming days will be critical, with traders eyeing both the 152.00 resistance level and any potential commentary from the Bank of Japan or the Ministry of Finance. FAQs Q1: Why is the Japanese yen weakening against the US dollar? The yen is weakening primarily due to the wide interest rate differential between the US and Japan. The Federal Reserve has raised rates aggressively to combat inflation, while the Bank of Japan maintains an ultra-loose monetary policy, making the dollar more attractive to yield-seeking investors. Q2: How do Middle East tensions affect the USD/JPY pair? Geopolitical tensions typically boost demand for safe-haven currencies like the yen and the US dollar. However, in the current environment, the dollar has benefited more due to its reserve currency status and higher yields, limiting the yen’s upside potential. Q3: What is the key level to watch for USD/JPY? The 152.00 level is a key psychological resistance. A break above this level could lead to further yen depreciation and may prompt Japanese authorities to intervene or issue verbal warnings to stabilize the currency. This post Japanese Yen Holds Near One-Month Low Against USD as Middle East Tensions Counter Strong PPI Data first appeared on BitcoinWorld .

🚨 Japan’s three largest banks plan a joint yen stablecoin by March 2027. 💡 Regulatory approval and details on user access are still pending. 🌏 A bank-backed yen stablecoin could change settlement flows in $USDT’s stronghold. Continue Reading: Japan’s top 3 banks to launch yen stablecoin by 2027 The post Japan’s top 3 banks to launch yen stablecoin by 2027 appeared first on COINTURK NEWS .