• Local banks will offer custody, transfers, and crypto-to-fiat exchange services.
• The bolivar’s sharp depreciation has driven a surge in stablecoin adoption.
• Conexus currently processes nearly 40% of Venezuela’s electronic payments.

Venezuela is preparing to merge its struggling traditional banking system with digital currencies as payment giant Conexus plans to integrate Bitcoin and stablecoins into the national banking infrastructure.

The move, expected to launch in December 2025, marks a significant step in the country’s financial transformation, offering Venezuelans a regulated channel for cryptocurrency use.

With the bolivar’s persistent depreciation and rising adoption of stablecoins, this development could make Venezuela one of the first nations to formally blend fiat and crypto operations under a unified system.

The integration also reflects Venezuela’s long-standing struggle with international sanctions that have limited access to global banking.

By adopting blockchain-based systems, Conexus aims to provide citizens with a more resilient alternative that can facilitate remittances, domestic transfers, and business payments without heavy dependence on foreign intermediaries and unstable local exchange rates.

The initiative also seeks to improve financial inclusion nationwide, making digital transactions more accessible to individuals and businesses across the country.

Conexus aims to bridge banks and blockchain

Conexus, which currently processes nearly 40% of Venezuela’s electronic transactions, is leading this shift by allowing local banks to offer direct crypto services such as custody, transfers, and fiat conversion for Bitcoin and stablecoins.

The integration seeks to make digital currency access seamless for customers within their regular bank accounts, eliminating the need for external wallets or apps.

The new infrastructure will be built on blockchain technology to enhance transparency and transaction security.

According to the company, the system will enable both individuals and businesses to move between digital and traditional currencies safely, reducing reliance on unregulated exchanges.

Growing reliance on stablecoins amid inflation

Years of hyperinflation have eroded confidence in the bolivar, pushing Venezuelans to rely heavily on stablecoins like Tether (USDT) as a store of value and medium of exchange.

From small retailers to freelancers, many now prefer stablecoins to protect earnings from volatility.

Conexus President Rodolfo Gasparri has highlighted that this surge in stablecoin transactions demonstrates a clear public demand for better integration between crypto and banking systems.

The company’s upcoming model aims to formalise this reality by providing regulated access to crypto within Venezuela’s financial framework, allowing citizens to transact and save using digital assets with greater confidence.

Potential blueprint for emerging economies

The Conexus initiative could reshape not only Venezuela’s financial sector but also set an example for other economies facing currency crises.

By offering a direct bridge between fiat and digital assets, the model could help millions gain access to stable, low-cost, and transparent financial services.

Venezuela’s attempt to merge traditional finance with blockchain technology aligns with global trends toward digitalisation of money, particularly in regions where economic instability drives innovation.

If implemented successfully, this system could serve as a prototype for countries in Latin America and beyond, where inflation and limited banking access continue to affect economic stability.

The post Venezuela to integrate Bitcoin and stablecoins into its banking network by December appeared first on CoinJournal.

• Lawmakers previously proposed a $19 billion Bitcoin reserve.
• Countries like Germany, Pakistan, and the Philippines are reviewing similar plans.
• Brazil’s Drex CBDC could support future digital reserve systems.

Brazil’s central bank is preparing to host one of Latin America’s most closely watched financial events next month, as global reserve managers gather in Rio de Janeiro for the Central Banking Autumn Meetings.

Among the top items on the agenda is the growing debate over whether Bitcoin and other cryptocurrencies could play a role in national reserves.

The meetings, as reported by local media, will bring together central bankers and policymakers from across the region to discuss new approaches to financial resilience, digital innovation, and inflation management.

Brazil’s participation marks a critical step in positioning the country at the centre of the region’s emerging digital asset strategy.

Brazil’s growing focus on Bitcoin as a reserve asset

At the Rio meetings, Brazil’s representatives will join officials from Colombia, Jamaica, and the Bahamas to discuss how Bitcoin could be integrated into sovereign reserves.

The discussions will cover issues such as volatility, liquidity, and the potential of Bitcoin as a hedge against inflation.

This focus comes as Brazil’s lawmakers continue to evaluate a proposal to create a $19 billion sovereign Bitcoin reserve.

The plan, which was previously discussed in parliamentary hearings, seeks to position Bitcoin as both a strategic financial asset and a tool to diversify the country’s holdings.

During earlier sessions, policymakers heard from technical experts in the digital asset sector on how Bitcoin could serve as a reserve asset alongside gold and foreign currencies.

By taking these discussions to an international policy forum, Brazil is signalling that the question of Bitcoin reserves is no longer limited to domestic politics but is becoming a subject of regional collaboration.

Global momentum behind national Bitcoin reserves

Brazil’s renewed interest in digital reserves comes amid a wider global shift toward rethinking reserve composition.

In the United States, officials have begun evaluating a proposal to establish a strategic Bitcoin reserve that could act as a safeguard against economic shocks.

Although the plan is still in early stages, it has drawn significant international attention, prompting other economies to assess similar measures.

In Europe, Germany’s second-largest political party recently submitted a motion calling for the creation of a national Bitcoin reserve.

The proposal urged the government to consider Bitcoin as a protection against inflation and currency depreciation, reflecting growing institutional acceptance of digital assets within traditional finance.

Elsewhere, countries such as the Philippines and Pakistan have also initiated reviews of policy drafts that would allow Bitcoin to be recognised as a strategic asset.

While most central banks do not yet hold cryptocurrencies in their reserves, the shift in dialogue from speculation to formal policy review suggests the idea is becoming increasingly mainstream.

Infrastructure and policy implications for Brazil

Brazil’s exploration of Bitcoin reserves is likely to overlap with its ongoing work on the Drex, the country’s central bank digital currency.

The Drex project aims to create a tokenised version of the Brazilian real that could facilitate interoperability between fiat and blockchain-based systems.

Experts believe that the infrastructure developed for Drex could eventually provide the technical foundation needed for managing reserve assets in digital form.

However, central banks worldwide still face challenges in safely storing, auditing, and reporting digital reserves. Market volatility and accounting standards remain major considerations.

For Brazil, next month’s meetings could help shape a roadmap for addressing these operational hurdles through regional cooperation.

A strategic moment for Latin America’s financial policy

The upcoming Rio meetings could mark a turning point for how Latin American economies view digital reserves.

With inflation pressures and currency volatility continuing to shape monetary policy, Bitcoin’s inclusion in sovereign strategies may no longer be a distant possibility.

Although no immediate policy shift is expected, Brazil’s leadership in hosting these discussions places it at the forefront of digital finance policymaking in the region.

The outcomes could determine how quickly central banks move from debate to implementation, setting the stage for future integration of Bitcoin into the global reserve system.

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• The Financial Services Authority is enforcing AML compliance for stablecoin traders.
• Indonesia ranks seventh in the 2025 Global Crypto Adoption Index.
• The government is exploring Bitcoin as a potential reserve asset.

Bank Indonesia (BI) is advancing plans to introduce a blockchain-based financial instrument described as the country’s “national stablecoin version,” a digital currency backed by government bonds.

The initiative was unveiled by BI Governor Perry Warjiyo at the Indonesia Digital Finance and Economy Festival and Fintech Summit 2025 in Jakarta.

It reflects Indonesia’s effort to integrate blockchain technology into its monetary system through tokenised securities tied to the digital rupiah. The announcement was first reported by CNBC Indonesia.

The central bank said the new digital assets will take the form of tokenised government securities backed by the central bank’s planned digital rupiah, Indonesia’s central bank digital currency (CBDC).

The project is designed to blend monetary innovation with national financial stability, positioning Indonesia among a handful of emerging economies developing bond-backed digital assets.

Digital rupiah to underpin Indonesia’s national stablecoin

According to Warjiyo, the bank will issue digital versions of its securities, referred to as Bank Indonesia securities in digital form, which will operate as blockchain-based representations of sovereign bond holdings.

These digital securities will be backed by the digital rupiah, making them the foundation of what the central bank describes as Indonesia’s national stablecoin.

He explained that the stablecoin structure would rely on government bonds, or Surat Berharga Negara (SBN), as its underlying collateral, ensuring that its value remains tied to official assets rather than speculative cryptocurrencies.

The initiative marks a step towards tokenising the country’s debt market, creating an ecosystem where digital securities, stablecoins, and the central bank digital currency coexist.

Warjiyo said the plan reflects BI’s broader digital finance strategy aimed at improving transparency, efficiency, and liquidity across financial markets.

If successful, it could reshape how monetary authorities interact with blockchain infrastructure in Southeast Asia.

Blockchain integration into Indonesia’s monetary system

The introduction of the bond-backed digital rupiah is expected to strengthen Indonesia’s transition towards a blockchain-integrated economy.

While stablecoins are not currently recognised as legal tender, their use in payments and remittances has increased, prompting regulatory attention from Indonesia’s Financial Services Authority, known as the OJK.

Dino Milano Siregar, who leads the OJK’s crypto and digital asset division, said the agency enforces anti-money laundering (AML) compliance and requires periodic reporting from stablecoin traders.

The OJK’s supervision reflects growing awareness of the potential systemic role of digital assets, even without formal recognition as payment instruments.

Siregar added that stablecoins are already being used as hedging tools, especially those backed by credible assets such as government bonds or reserve currencies.

Their comparatively lower volatility makes them appealing for remittance transactions and cross-border settlements.

This practical use case aligns with BI’s ambition to institutionalise a regulated form of stable value exchange through the digital rupiah.

Indonesia among global leaders in crypto adoption

Indonesia’s rapid shift towards digital finance is underpinned by strong adoption trends. The country ranks seventh in the 2025 Global Crypto Adoption Index published by Chainalysis.

It placed ninth in retail activity, seventh in value received through centralised exchanges, and fourth in decentralised finance (DeFi) transactions.

These figures highlight Indonesia’s growing role in global digital asset markets.

In August, local advocacy group Bitcoin Indonesia reported that government officials were exploring Bitcoin as a potential reserve asset, with discussions centred on how such holdings could diversify national reserves and stimulate economic growth.

If Indonesia proceeds with its stablecoin framework alongside its digital rupiah and potential Bitcoin reserve diversification, it could emerge as a major blockchain hub in Asia.

The combination of regulatory oversight, tokenised government debt, and CBDC integration places Indonesia among countries like China and Singapore that are redefining the future of sovereign-backed digital assets.

The post Bank Indonesia moves to issue a national stablecoin backed by government bonds appeared first on CoinJournal.

• The FINTOCH platform falsely claimed ties to Morgan Stanley and promised 1% daily returns.
• Investigators found $31.6 million in USDT moved across Binance Smart Chain, Tron, and Ethereum.
• Liang lived alone in a luxury Bangkok home, where police found an illegal firearm.

Thai and Chinese authorities have arrested a Chinese national in Bangkok linked to one of the largest decentralised finance scams of 2023.

The suspect, identified as Liang Ai-Bing, was detained over his alleged role in a cryptocurrency Ponzi scheme that defrauded nearly 100 investors of more than $31 million.

The case, involving the FINTOCH platform, as per a BeInCrypto report, exposes how cross-border coordination and blockchain analysis are reshaping global efforts to combat crypto-related crimes.

Inside the FINTOCH scam

Liang Ai-Bing was arrested on Wednesday in an upscale Bangkok neighbourhood after a coordinated intelligence operation between Thai and Chinese authorities.

The FINTOCH platform, also known as Morgan DF Fintoch, operated between December 2022 and May 2023, falsely marketing itself as a legitimate decentralised finance project.

It claimed to be affiliated with global investment bank Morgan Stanley — an association that Morgan Stanley publicly denied in 2023.

The fraudulent platform promised investors daily returns of 1% and presented a fictional chief executive named Bob Lambert, whose photo turned out to be that of an American actor, Mike Provenzano.

The Monetary Authority of Singapore had already issued a warning about the platform in early May 2023, weeks before it vanished with millions in investor funds.

Investigators later revealed the scam was orchestrated by five individuals, including Liang.

The other suspects were identified as Ai Qing-Hua, Wu Jiang-Yan, Tang Zhen-Que, and Zuo Lai-Jun.

While Zuo was detained in China and later released on bail, the remaining suspects fled across borders after the exit scam in May 2023.

Blockchain trail and digital evidence

On-chain investigator ZachXBT first exposed the scam in May 2023, tracking suspicious fund movements across multiple blockchains.

His research found that the FINTOCH team withdrew $31.6 million in USDT from Binance Smart Chain and later transferred it through the Tron and Ethereum networks.

Victims soon discovered they could no longer access their accounts or withdraw funds.

Data from Immunefi, a crypto bug bounty platform, showed that the FINTOCH case contributed to a 63% rise in cryptocurrency-related losses in the second quarter of 2023 compared to the same period the previous year.

When Liang was arrested, authorities found he had been living alone in a rented three-storey property in Bangkok’s Wang Thonglang district since late 2023.

The monthly rent for the residence was approximately $4,645.

During the search, police also seized an illegal firearm, leading to additional charges for unlawful entry and possession of a weapon.

Cross-border enforcement and extradition

The FINTOCH investigation has highlighted the growing complexity of prosecuting cryptocurrency crimes that transcend national borders.

Thai police worked closely with Chinese authorities to trace Liang’s movements after he fled mainland China, frequently shifting locations to avoid capture.

Discussions are underway to extradite him to China, where he will face fraud charges.

The case has also renewed attention on regulatory gaps surrounding decentralised finance platforms.

Unlike traditional financial institutions, DeFi projects often operate across multiple jurisdictions without clear oversight.

This enables bad actors to exploit legal loopholes and evade accountability.

Authorities in other countries are also cracking down on similar scams.

In October 2025, US officials announced they were seeking to seize 127,271 BTC — valued at over $14.2 billion — from Chen Zhi, founder of Cambodia-based Prince Holding Group.

The case involved “pig butchering” scams, where victims were coerced into fraudulent crypto investments under threat or manipulation.

The FINTOCH case underscores both the potential and the limitations of blockchain transparency.

While transaction records helped investigators track stolen assets, the speed of execution and lack of immediate regulation continue to make recovery difficult.

The nearly two-year gap between the May 2023 scam and Liang’s October 2025 arrest illustrates how international cooperation and forensic blockchain analysis are becoming essential in tackling DeFi-related crimes.

The post How a Bangkok arrest cracked open the $31 million FINTOCH crypto fraud appeared first on CoinJournal.

• Chairman Kelvin Wong warns of inflated DAT share prices.
• Boyaa Interactive and Ourgame International among affected firms.
• India and Australia also move to curb crypto-heavy listings.

Hong Kong’s Securities and Futures Commission (SFC) has intensified its scrutiny of listed firms with digital asset treasuries (DATs) after findings suggested retail investors may have lost billions trading these stocks.

The regulator is concerned that share prices of some companies may be trading well above the value of their crypto holdings, raising questions about investor protection and market transparency.

The move comes amid growing global unease over corporate exposure to digital assets, with regulators in Hong Kong, India, and Australia tightening oversight of firms integrating crypto into their balance sheets.

SFC flags risk of inflated share valuations

SFC chairman Kelvin Wong Tin-yau said the regulator is closely monitoring how listed firms manage their crypto assets, as some share prices may not reflect the true value of their holdings.

Wong pointed to examples from the United States where companies with digital asset exposure saw valuations soar to more than double the cost of their crypto portfolios.

Findings from Singapore-based 10X Research earlier this month indicated that retail investors may have collectively lost around $17 billion trading digital asset treasury firms.

Many of these losses stemmed from investors purchasing shares at a premium far above the company’s net asset value.

Some of Hong Kong’s most active DAT firms, including Boyaa Interactive and Ourgame International, have seen their stock performance weaken amid the crypto market’s volatility.

The SFC’s growing concern reflects a broader effort to assess whether such firms pose risks to financial stability, particularly when share prices are driven more by speculative demand than by operational performance.

Regulators move against rebranding attempts

Authorities in Hong Kong have already taken measures against companies attempting to rebrand themselves as crypto-holding entities without substantial business operations.

The SFC cited listing rules that limit firms from maintaining excessive liquid assets, including cryptocurrencies, on their balance sheets without demonstrating a clear operational rationale.

Wong stated that investors should “fully understand the underlying risks of DAT,” adding that the commission plans to expand its public education campaigns to help retail traders understand how digital asset treasuries function and the market volatility they may face.

Once its review is complete, the SFC will determine whether specific guidelines are required for DATs, as Hong Kong currently lacks a framework governing listed companies investing directly in cryptocurrencies.

Global caution spreads across markets

Regulatory caution is not limited to Hong Kong. Earlier this month, similar developments emerged in India and Australia, where exchanges raised concerns about listed firms shifting large portions of their capital into crypto holdings.

In Australia, the Australian Securities Exchange (ASX) restricts listed firms from holding more than 50% of their assets in cash or cash-like instruments, a rule that complicates attempts to build crypto-heavy balance sheets.

In India, the Bombay Stock Exchange recently rejected a listing proposal from Jetking Infotrain due to its plans to allocate funds toward digital assets.

Across jurisdictions, regulators are increasingly aligning on the need for clearer oversight of corporate crypto exposure.

Industry concerns over unsustainable models

Experts within the crypto industry have expressed concern that many DAT companies operate without robust governance structures or defined risk controls.

Without clear strategies for managing asset volatility or liquidity shocks, retail investors could face sharp losses during market downturns.

While digital asset treasuries offer firms a new way to diversify holdings, regulators argue that such moves must be backed by sound business fundamentals rather than speculative enthusiasm.

The SFC’s review marks an important step in defining how listed companies can responsibly integrate crypto into their financial strategies without endangering shareholders.

The post Hong Kong’s SFC reviews digital asset treasuries as investor losses mount appeared first on CoinJournal.

• Crypto firms offering financial products must obtain an AFSL by 30 June.
• Bitcoin and NFTs are said to be excluded from the financial product category.
• The Treasury has finished consultations on new crypto legislation.

Australia has tightened its regulatory framework for digital assets, introducing updated guidelines that define how crypto service providers will be classified and licensed.

The Australian Securities and Investments Commission (ASIC) announced revisions to its Information Sheet 225.

Firms offering services tied to financial products will now need to apply for an Australian Financial Services License (AFSL) and join the Australian Financial Complaints Authority by June 30.

The updated document aims to streamline compliance requirements, strengthen investor protection, and bring digital asset providers under the same regulatory standards as traditional financial institutions.

This marks a significant shift in Australia’s approach to overseeing crypto-related businesses and ensuring greater market transparency.

The move aims to bring greater oversight to the rapidly evolving crypto industry while maintaining flexibility for tokens like Bitcoin, which will not be treated as financial products under the new guidance.

Bitcoin excluded, but stablecoins under scrutiny

Under the revised guidelines, ASIC clarified that cryptocurrencies such as Bitcoin, gaming non-fungible tokens (NFTs), and tokenised event tickets do not fall under the financial product category.

However, stablecoins, wrapped tokens, tokenised securities, and yield-bearing products like staking services and tokenised real estate will require licensing.

ASIC also confirmed in-principle regulatory relief for stablecoin and wrapped token distributors to help transition into compliance ahead of broader legislative reforms.

The updated framework outlines that services offering financial returns or lock-up periods will be classified as financial products, ensuring investors in yield-based assets are protected under existing finance laws.

Industry welcomes clarity but warns of implementation challenges

The update has been broadly welcomed across the blockchain sector for providing long-awaited clarity.

Industry groups and legal experts said the move provides visibility on ASIC’s approach to regulating the digital asset ecosystem.

However, they warned that the transition could create logistical hurdles due to limited local expertise, banking restrictions, and insurance access.

Blockchain APAC’s CEO noted that ASIC’s approach of implementing policy ahead of final legislation brings short-term certainty but also leaves room for interpretation.

These “structural bottlenecks,” including resource and compliance constraints, could shift risks from legal to operational levels if not addressed promptly.

Transition underway as crypto firms prepare for licensing

Industry players are now restructuring their operations to align with the new rules.

The Digital Economy Council of Australia called the update a significant step toward mainstream regulation but expressed concern about ASIC’s capacity to process a large volume of licensing applications in time.

The move follows the Albanese government’s proposal in March for a unified framework that places crypto exchanges under existing financial services laws.

The Treasury concluded consultations last week on draft legislation that would formalise this transition, further aligning Australia’s crypto oversight with global regulatory trends.

The update marks a turning point for Australia’s digital asset market, setting a roadmap for compliance while signalling the government’s intention to balance innovation with investor protection.

The post Australia tightens crypto rules: check out all the details appeared first on CoinJournal.

• Mt. Gox extends Bitcoin repayment deadline to Oct 2026 amid ongoing administrative hurdles.
• Once the top Bitcoin exchange, Mt. Gox’s collapse in 2014 led to the loss of 850,000 BTC.
• Arkham data shows holdings now down 75% to 34,690 BTC.

Mt. Gox, once the world’s largest Bitcoin exchange, has delayed repayments to its creditors until October 2026 — extending a saga that began more than a decade ago.

The announcement, made just days before its previous deadline of October 31, 2025, reflects ongoing administrative and technical challenges in finalising payments.

While many creditors who submitted paperwork have received partial repayments, a significant number are still waiting for their funds.

The Tokyo District Court approved the extension after the trustee cited the need for additional time to process remaining claims and complete settlements efficiently.

Delayed Bitcoin repayments extended to 2026

According to the latest notice, the Mt. Gox rehabilitation trustee confirmed that most base, early lump-sum, and intermediate repayments have been processed for creditors who completed the required steps.

However, repayments for others remain pending.

The trustee explained that it was “desirable to make the repayments to such rehabilitation creditors to the extent reasonably practicable,” leading the court to approve a new deadline of October 31, 2026.

This marks another chapter in one of the cryptocurrency industry’s longest-running recovery efforts.

Mt. Gox, which once handled over 70% of the world’s Bitcoin trading volume, collapsed in 2014 after a massive hack led to the loss of approximately 850,000 BTC.

The company subsequently filed for bankruptcy in Japan.

How the Mt. Gox collapse reshaped Bitcoin history

When Mt. Gox failed, the exchange’s bankruptcy shook investor confidence in digital assets and exposed vulnerabilities in early crypto infrastructure.

About 200,000 BTC were later recovered, but 650,000 BTC remain missing.

The recovery process transitioned into a court-supervised civil rehabilitation in Japan, during which a trustee began redistributing recovered Bitcoin and Bitcoin Cash (BCH) in 2024.

At the time of its collapse, Mt. Gox’s influence was unmatched.

The incident not only caused a sharp decline in Bitcoin prices but also prompted tighter regulatory oversight in key markets.

In the years since, it has become a landmark case in crypto regulation, bankruptcy law, and investor protection — shaping how global exchanges handle custody and insurance.

Market impact and sell-off concerns

With repayments scheduled to continue into 2026, traders and analysts have debated whether the eventual release of thousands of Bitcoin could trigger selling pressure.

Historically, such fears have surfaced each time Mt. Gox announced repayment progress.

However, recent on-chain data suggests that these effects may be limited.

According to Arkham Intelligence, Mt. Gox currently holds 34,690 BTC worth nearly $4 billion, down from about 142,000 BTC in mid-2024 — a decline of more than 75%.

Analysts tracking these wallets have noted that even large movements from the exchange have had only short-term effects on Bitcoin’s market price, indicating that most creditors are choosing to hold rather than sell immediately.

What’s next for creditors and the crypto market

The trustee’s revised timeline means that full repayments could now take another year, extending the wait for thousands of claimants worldwide.

For many early Bitcoin investors, the repayments represent not only financial recovery but also closure on one of crypto’s most notorious events.

Still, the Mt. Gox story continues to serve as a cautionary tale for digital asset investors.

It underscores the importance of secure custody, transparent operations, and regulatory compliance — principles that have since become standard practice across global crypto exchanges.

The post Mt. Gox delays Bitcoin repayments again as creditors await full settlement appeared first on CoinJournal.