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- A memory worth 107 Bitcoin and more than 10 years in prison
- Bithumb CEO booked in nepotism probe
- SBI turns bank deposits into crypto rewards
- DBS to launch tokenized physical gold initiative
- Philippines regulators push Binance toward licensed rails
- Metaplanet to acquire licensed securities firm
- South Korea boosts crypto crime-fighting capabilities
- Hong Kong public-sector issuer launches digital bond offering
A memory worth 107 Bitcoin and more than 10 years in prison
A court in Qingdao, a city in eastern China, sentenced a man to 10 years and nine months in prison for stealing 107 Bitcoin after memorizing a victim’s wallet seed phrase.
The defendant, identified as Zhang, reconstructed the 12th word of the recovery phrase after memorizing the other 11 while helping an acquaintance with a transaction, then transferred 107 BTC from the victim’s wallet.
Prosecutors argued Bitcoin qualifies as property under Chinese criminal law, allowing the theft case to proceed despite the country’s restrictions on cryptocurrency trading.
The court also fined Zhang 100,000 yuan ($14,700) after investigators linked the stolen funds to him through blockchain and electronic evidence.
Bithumb CEO booked in nepotism probe
South Korean police have reportedly booked Lee Jae-won, the CEO of Bithumb, as a suspect in an investigation into alleged hiring favors linked to independent lawmaker Kim Byung-gi.
Investigators allege Kim asked Bithumb to hire his son and that the company proceeded with the recruitment.
Police are also examining claims that Kim sought employment for a former aide at the exchange. Authorities suspect Kim may have used his position on the National Assembly’s Political Affairs Committee to support Bithumb’s interests.
Earlier in the week, police raided crypto exchange Bithumb as part of an investigation into allegations that Kim sought preferential treatment for his son’s employment.
SBI turns bank deposits into crypto rewards
SBI Shinsei Bank will reportedly launch a service that rewards deposit customers with crypto exchange vouchers tied to their account balances.
Customers will receive vouchers worth 20% of their interest payments, which can be redeemed for Bitcoin, Ether or XRP through SBI VC Trade.
The program effectively turns traditional bank deposits into a crypto on-ramp by exposing savers to digital assets without requiring direct purchases.
The initiative is the latest step in SBI Group’s broader crypto strategy spanning exchange services, stablecoin lending and investment products.
DBS to launch tokenized physical gold initiative
DBS Bank plans to launch tokenized physical gold for retail customers in Singapore in the second half of 2026, allowing users to buy, hold and trade digital tokens backed by gold stored in the bank’s vaults.
Each token will represent one gram of physical gold, with fractional ownership aimed at making the asset more accessible.
The bank said it will handle the tokenization, issuance, custody and distribution process in-house using its digital asset infrastructure.
DBS is also exploring a future listing of the token on the DBS Digital Exchange for accredited and institutional investors.
Philippines regulators push Binance toward licensed rails
Binance’s planned return to the Philippines through BlockShoals has taken a step forward after the company reportedly selected a central bank-licensed virtual asset service provider for its Securities and Exchange Commission sandbox integration.
The partner has not yet been named.
The announcement follows the central bank’s statement that neither BlockShoals nor Binance held a VASP license and that participation in the sandbox does not replace authorization requirements.
Philippine regulators previously restricted access to Binance over licensing concerns.
Metaplanet to acquire licensed securities firm
Japanese Bitcoin treasury company Metaplanet is acquiring securities firm Siiibo Securities for 2.1 billion yen ($13.1 million), giving it a licensed platform to develop and distribute Bitcoin-linked investment products.
The company said the acquisition is the first step in Project Nova, its strategy to build a Bitcoin-focused financial ecosystem in Japan.
Siiibo Securities will be renamed Metaplanet Securities after the acquisition closes.
Japanese financial firms are gearing up for a potential regulatory shift as the Lower House passed a bill on Thursday that would bring crypto closer to the country’s traditional financial markets.
South Korea boosts crypto crime-fighting capabilities
South Korea’s national police are expanding their crypto crime-fighting toolkit through a new partnership with blockchain analytics firm Chainalysis.
The agreement will provide investigators with specialized training, certification programs and access to tools for tracing illicit cryptocurrency flows.
While North Korean cyberattacks remain a major concern, both sides said the initiative is intended to strengthen South Korea’s overall capacity to investigate crypto-related crime.
Hong Kong public-sector issuer launches digital bond offering
The Hong Kong Mortgage Corporation has completed a 12 billion Hong Kong dollar (about $1.5 billion) public digital bond issuance.
The offering included Hong Kong dollar and yuan-denominated bonds issued on a distributed ledger platform operated by Hong Kong’s Central Moneymarkets Unit.
Demand peaked at about 24 billion Hong Kong dollars from more than 100 institutional investor accounts.
The deal is the first digital bond issuance by a Hong Kong public-sector institution.
