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According to the South China Morning Post, Sun Shengbin from the Wenzhou Public Security Bureau and Lou Yandi from the Zhejiang Provincial Public Security Department's Criminal Investigation Team published a technical paper on June 4 in the journal "Forensic Technology," systematically disclosing the Chinese police's forensic tools and case handling processes for virtual currency assets such as Bitcoin and Ethereum. The content covers aspects such as device cracking, evidence collection, on-chain transaction tracking, and asset freezing and seizure.The paper outlines several tracking methods, one of which involves tracking transaction fees back to exchanges like Binance, allowing the police to obtain user data. The police can acquire "Know Your Customer" (KYC) records from major exchanges such as Binance, OKX, and HTX through formal legal channels. For funds stored in exchanges, the police can freeze accounts for six months, and the freezing period can be extended.Additionally, the document emphasizes strict operational bottom lines: investigators must not privately hold private keys. The principle of "separation of case handling and custody" must be adhered to, with comprehensive supervision and the establishment of a clear regulatory chain record.

According to The Block, the Legislative Yuan of Taiwan has passed the "Virtual Asset Service Act" in its third reading. The bill has been submitted to Taiwan's regional leader Lai Ching-te for signing, and the implementation date is expected to be announced within 10 days.The core points of the bill are as follows:• Licensing requirements: Virtual asset service providers must apply for a license from the Financial Supervisory Commission (FSC). Platforms that have completed AML registration have a 12-month application period and a 21-month approval period.• Stablecoin regulation: Issuing or managing stablecoins requires dual approval from both the central bank and the FSC, and sufficient reserves must be maintained.• Compliance requirements: Covering aspects such as cybersecurity, customer asset segregation, and internal controls.• Criminal penalties: Illegal operations can result in a maximum sentence of 7 years in prison and fines of up to NT$100 million (approximately US$3.14 million); market manipulation in the crypto space can lead to a maximum sentence of 10 years and fines of up to NT$200 million (approximately US$6.28 million).Industry insiders point out that crypto companies previously operating in legal gray areas will no longer be able to rely on regulatory ambiguity. Traditional financial institutions will also be allowed to apply for VASP licenses in the future, and existing crypto companies may face increased competitive pressure.

According to the disclosure from the People's Procuratorate of Jing'an District, Shanghai, recently, the court prosecuted a certain Li for suspected illegal business operations in a criminal gang that used virtual currency for cross-border money laundering and illegal foreign exchange. On June 10, the case was heard in court and a verdict was announced on the spot, marking a conclusion to a series of illegal business operations spanning three years and involving over 200 million yuan. In July 2024, the State Administration of Foreign Exchange discovered abnormal clues regarding Company Z using virtual currency to transfer assets for domestic clients during routine monitoring, and subsequently referred the case to the public security authorities for handling.Investigations revealed that Company Z was registered overseas in 2019, promoting itself under the guise of a "private bank" and developing a virtual banking app to create a facade of legitimacy, but it had not obtained the necessary foreign exchange business operation license in China and was essentially engaged in illegal foreign exchange activities. The gang targeted high-net-worth individuals with funding needs for overseas property purchases, immigration, and studying abroad, using intermediaries to attract clients, with customer managers, traders, and customer service personnel facilitating the currency exchange process. Clients purchased virtual currency from virtual currency exchangers with renminbi and transferred it to Company Z's overseas virtual wallet, after which the gang exchanged the virtual currency for foreign currency abroad and transferred it to the clients' designated overseas accounts. There was no actual cross-border flow of funds; instead, settlements were made through domestic and foreign capital pools, with Company Z charging a 3% currency exchange service fee and paying intermediaries a 0.5% commission.A total of nine individuals have been brought to justice in this case, while one main suspect is still under investigation. After review, the relevant personnel collectively violated national laws by illegally buying and selling foreign exchange, disrupting financial order, and the circumstances were serious or particularly serious, warranting criminal liability for illegal business operations. The court sentenced five individuals, including Gao and Li, to prison terms ranging from six years to two years and six months, and imposed fines ranging from 1.5 million yuan to 300,000 yuan; for Chen, Huang, and four others, due to lighter criminal circumstances, relatively smaller amounts involved, and voluntary confession, the procuratorial authority made a decision of relative non-prosecution according to the law.

According to monitoring by Catcher Predict, in the predicted market Polymarket for the event "Dota 2: Virtus.pro vs HULIGANI - European Closed Qualifiers," the win rate of the "Yes" option in the sub-market "Both sides defeat Roshan" has experienced a dramatic fluctuation, soaring from 50% an hour ago to the current 95% (a fluctuation of 45%). Please note the impact of relevant breaking news.

According to Xinhua News Agency, the Supreme People's Procuratorate held a press conference today. Deputy Chief Procurator Miao Shengming introduced that the procuratorial organs are deeply investigating and thoroughly examining "self-money laundering" and "third-party money laundering" crimes, vigorously promoting the recovery of drug-related assets, and ensuring comprehensive coverage in the investigation and prosecution of drug-related money laundering crimes. From January last year to May this year, more than 1,200 people have been prosecuted for drug-related money laundering crimes. The Supreme People's Procuratorate has taken over the supervision of a major cross-border smuggling, trafficking, transporting drugs, and money laundering case involving Li Moubo and others, handled by the Chongqing procuratorial organs. Li Moubo laundered more than 48 million yuan through virtual currency and was sentenced to death after being punished for multiple crimes according to the law.

According to monitoring by Catcher Predict, in the event "Dota 2: Yellow Submarine vs. Virtus.pro European Qualifiers" on the prediction market Polymarket, the "Yellow Submarine" option in the sub-market "First Kill of the Second Game" has experienced a dramatic fluctuation in win probability, soaring from 50% one hour ago to the current 90% (a fluctuation of 40%). Please note the impact of related breaking news.

The Hong Kong Securities and Futures Commission released the "2025-26 Annual Report," showing that Hong Kong's capital market achieved significant growth across various asset classes in the past year, including investment funds, digital assets, and the stock market. Among them, the growth of tokenized investment products accelerated. As of March, the managed assets of 13 retail products approved by the Securities and Futures Commission increased nearly sixfold year-on-year, reaching HKD 10.8 billion. At the same time, the total market value of 11 virtual asset spot ETFs reached HKD 4.3 billion, a substantial increase of 90% since their launch in 2024, recognizing Asia's first Solana spot ETF. The trading volume of 12 licensed virtual asset trading platforms increased significantly by 125% within a year.

According to Newsis, the Financial Intelligence Unit (FIU) of South Korea has referred about 40 unregistered virtual asset service providers to law enforcement agencies for action. The report points out that these unregistered companies are not subject to the South Korean "Virtual Asset User Protection Act" and the "Specific Financial Transaction Information Reporting and Use Act," and therefore face risks such as personal data breaches and hacking attacks, and may also be used for money laundering and concealing criminal funds.

According to an article published by the People's Bank of China on its official account, Vice Governor Xuan Changneng stated that the high-quality development of China's anti-money laundering work has entered a new stage, with significant results in combating money laundering and related illegal crimes. By 2025, the number of cases sentenced nationwide for money laundering under Article 191 of the Criminal Law is expected to exceed 2,000. Since 2022, efforts have been strengthened to combat professional money laundering, virtual currency money laundering, and cross-border money laundering activities, improving the quality and efficiency of investigations, prosecutions, and judgments of money laundering crimes.

The Hong Kong Securities and Futures Commission has announced that it has listed Aurum/Aurum Foundation as a suspicious virtual asset trading platform. The Hong Kong Securities and Futures Commission stated that the company claims to be registered in Hong Kong under the Companies Ordinance and provides virtual asset, futures contracts, and derivative trading services on its relevant website, but the company is not licensed by the Hong Kong Securities and Futures Commission and is suspected of conducting unlicensed activities.

According to Digital Asset, the Financial Services Commission of South Korea plans to expand the scope of the regulatory sandbox to include the Virtual Asset User Protection Act. This move is part of a broader plan aimed at preparing the future of the financial industry by expanding services to reflect changes in the financial environment and market demands.At a recent event hosted by Financial Services Commission Chairman Lee Ik-yeon, the Commission stated that it will continue to explore and incorporate laws related to emerging fields and services, such as the Internet Banking Act and the Virtual Asset User Protection Act, into the regulatory sandbox.

According to Digital Asset, the Financial Intelligence Unit (FIU) of South Korea proposed at the FATF plenary meeting to expand the applicability of the virtual asset Travel Rule to small transactions and suggested implementing transaction restrictions on high-risk unregistered virtual asset service providers.The South Korean delegation emphasized that as the money laundering risks associated with cross-border digital asset transactions increase, member countries should apply the Travel Rule to both sending and receiving VASPs and expand its applicability to small transactions. In response to the increasing cases of criminal organizations utilizing overseas and unregistered VASPs, South Korea recommended strengthening customer identification obligations and considering transaction restrictions on high-risk unregistered VASPs.The FIU had previously advanced similar regulatory measures in the amendment to the enforcement decree of the Specific Financial Information Act, which is planned to be implemented in August, expanding the applicability of the Travel Rule from transactions over 1 million won to those under 1 million won.

According to Edaily, the South Korean "Abolition of Virtual Asset (Cryptocurrency) Tax" national petition has received 58,571 approvals. According to the National Assembly Act, the relevant petition should be submitted for review at the first committee meeting held after 30 days of being handed over to the committee.According to the current income tax law, starting from January 1 next year, income from the transfer or lending of virtual assets will be classified as other income and will be subject to income tax. Virtual asset income exceeding 2.5 million won (approximately 1,800 USD) will be subject to a total tax rate of 22%, which includes other income tax (20%) and local income tax (2%).

The WeChat public account of the Chinese prosecutor published an article titled "Research on Foreign-Related Cases | Key Points for Cross-Border Electronic Evidence Collection in Virtual Currency Money Laundering Crimes," which pointed out that when handling virtual currency money laundering cases, one should use the virtual currency wallet address as a breakthrough point, apply blockchain technology to analyze on-chain data characteristics and the flow of funds, and identify money laundering activities conducted through virtual currencies to achieve precise strikes.The article proposed that the evidence collection model should be built around two core proof elements: identity relevance and transaction relevance, establishing a "domestic evidence collection as the basis, cross-border evidence collection as a supplement" approach, and standardizing the applicable boundaries of unilateral evidence collection and bilateral judicial assistance to enhance the efficiency of cross-border evidence collection.For third-party entities such as exchanges, wallet service providers, and payment channels, the article suggested establishing "elemental" retrieval standards, focusing on obtaining KYC information and change records, login logs, device and IP information, two-factor authentication records, deposit and withdrawal records, on-chain addresses, transaction hashes, as well as risk control and freezing records, to establish the relationship of "address---account---natural person."

According to South Korean media SBS Biz, South Korea is considering allowing various parties, including exchanges and fintech companies, to participate in the upcoming virtual asset overseas remittance business system. This system is expected to be implemented in December this year. Relevant individuals revealed that the government has recently begun drafting the implementation details of the partial amendment to the Foreign Exchange Transaction Act and is reviewing the registration requirements for virtual asset transfer businesses.The core content of the amendment is to include cross-border virtual asset transfers within the regulatory framework of the Foreign Exchange Transaction Act, defining it as "virtual asset transfer business." Companies intending to engage in virtual asset transfer business must register with the Office of the Minister of Economy and Finance of South Korea and report relevant information through the foreign exchange computer network of the Bank of Korea when cross-border transfer transactions occur. Previously, cross-border virtual asset transactions had been outside the foreign exchange regulatory framework, raising concerns that these transactions could be used for illegal foreign exchange trading or money laundering activities. This system improvement aims to incorporate virtual asset transfer transactions into the management and regulatory system.

According to the Korea Herald, the Seoul Metropolitan Police Agency's Wide Area Crime Investigation Team has dismantled two organizations involved in money laundering using virtual assets, with a total amount involved exceeding 14 billion Korean won. One organization consists of nine individuals, including a Chinese suspect A (45 years old), who were instructed by a Cambodian telecom fraud group. From February 2024 to April 2025, they purchased USDT through overseas exchanges and transferred it between domestic and foreign exchanges, laundering approximately 14 billion Korean won in total. The organization charged a fee of 650 million Korean won, and the main suspects have been transferred to the prosecution, with two individuals arrested, and the leader Y (29 years old) has been issued a red notice by Interpol.The other organization, consisting of 14 individuals, directly participated in laundering the proceeds from the Cambodian romance scam, with an amount involved of approximately 2.8 billion Korean won. In addition, another 33 individuals have been transferred to the prosecution for allegedly providing unlicensed virtual currency exchange services to foreign tourists (involving 6.3 billion Korean won).

According to Xinhua Daily, the police in Ya'an, Sichuan have cracked a cross-border online pornography crime case. The involved pornographic comic website "Shameful Color Comics" profited by inducing teenagers to frequently make small payments, with the website receiving over 100 million visits and a financial flow exceeding 12 million yuan (approximately 1.66 million USD). The police found that individuals within the country received the illicit funds through multiple companies and personal accounts, and that Li Mouwu and others transferred the money abroad using virtual currency.Recently, the People's Court of Ming Mountain District in Ya'an City sentenced five defendants for the crimes of profiting from the distribution of obscene materials and assisting in information network crime activities. Judicial authorities are still investigating the foreign financial backers behind the website.

According to local media in Hong Kong, on June 5, the Hong Kong police received a report from a man who claimed that he was scammed out of 1.6 million USDT by a counterfeit exchange while exchanging virtual currency, which is worth approximately 14 million Hong Kong dollars. After preliminary investigation, the police classified the case as "obtaining property by deception" and handed it over to the 10th team of the Mong Kok District Criminal Investigation Unit for follow-up, with no arrests made yet. The police remind citizens that obtaining property by deception is a serious crime, and upon conviction, the maximum penalty can be imprisonment for fourteen years.