{"id":56220,"date":"2025-11-02T15:48:53","date_gmt":"2025-11-02T15:48:53","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=56220"},"modified":"2025-11-02T15:48:53","modified_gmt":"2025-11-02T15:48:53","slug":"this-week-in-crypto-news-asia-indian-court-recognizes-crypto-as-property-japan-launches-jpyc-stablecoin-china-categorizes-stablecoins-as-high-risk","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=56220","title":{"rendered":"This Week In Crypto News Asia: Indian Court Recognizes Crypto As Property, Japan Launches JPYC Stablecoin, China Categorizes Stablecoins As High Risk"},"content":{"rendered":"<div>\n<p>Asia is currently leading the global crypto charge, with countries like Vietnam, India, Japan and South Korea becoming regional crypto hubs. Some of these countries are witnessing an explosion in retail crypto trading, while other are charting frameworks to better govern crypto, providing the broader Asian crypto landscape with roadmaps that they can adapt to their own specific needs.<\/p>\n<p>A lot has happened since the last update on crypto in Asia. Here\u2019s a rundown of the big headlines.<\/p>\n<h2>Indian Court Rules Crypto As Property: Blocks WazirX From Redistributing User\u2019s XRP<\/h2>\n<p>The Madras High Court in India, on 31 October has given a <a class=\"general-link\" href=\"https:\/\/mhc.tn.gov.in\/judis\/index.php\/casestatus\/viewpdf\/1267542?utm_campaign=fullarticle&amp;utm_medium=referral&amp;utm_source=inshorts\" target=\"_blank\" rel=\"noopener nofollow\">major ruling<\/a> that recognizes cryptocurrencies as legal property, giving crypto holders in the country stronger protection under the law.<\/p>\n<p>The case involves a WazirX user who had purchased 3,532 XRP tokens before the infamous July hack last year. WazirX had planned to redistribute the user\u2019s XRP to help cover platform losses, but the court blocked its move.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/16.0.1\/72x72\/1f6a8.png\" alt=\"\ud83d\udea8\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> JUST IN: Madras High Court sides with an <a href=\"https:\/\/twitter.com\/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\" target=\"_blank\">$XRP<\/a> holder in the WazirX hack case \u2014 declaring <a href=\"https:\/\/twitter.com\/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\" target=\"_blank\">$XRP<\/a> as property under Indian law. <img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/16.0.1\/72x72\/1f1ee-1f1f3.png\" alt=\"\ud83c\uddee\ud83c\uddf3\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> <a href=\"https:\/\/t.co\/1RdDztqcTU\" rel=\"nofollow\" target=\"_blank\">pic.twitter.com\/1RdDztqcTU<\/a><\/p>\n<p>\u2014 RippleXity (@RippleXity) <a href=\"https:\/\/twitter.com\/RippleXity\/status\/1982462662781854023?ref_src=twsrc%5Etfw\" rel=\"nofollow\" target=\"_blank\">October 26, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Justice N. Anand Venkatesh explained that although crypto isn\u2019t physical or an official currency in the country, it still qualifies as property.<\/p>\n<p>\u201cIt is not a tangible property nor is it a currency,\u201d he wrote. \u201cHowever, it is a property, which is capable of being enjoyed and possessed in a beneficial form.\u201d<\/p>\n<p>Justice Venkatesh also pointed out that the user accessed WazirX from her home, using a mobile phone and was blocked from trading or selling her tokens. That detail helped confirm that crypto assets accessed within India fall under Indian legal protection.<\/p>\n<p><strong>EXPLORE:\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/best-crypto-to-buy\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\">Top 20 Crypto to Buy in 2025<\/a><\/strong><\/p>\n<h2>Stablecoins Are Underdeveloped And High-Risk: PBOC Governor Pan Gongsheng<\/h2>\n<p>China has officially shut down any speculations about lifting its crypto ban. The enforcement in narrative came from the Governor of the People\u2019s Bank of China (PBOC), Pan Gongsheng\u2019s speech at a financial <a class=\"general-link\" href=\"https:\/\/www.safe.gov.cn\/ningxia\/2025\/1028\/2525.html\" target=\"_blank\" rel=\"noopener nofollow\">conference <\/a>in Beijing.<\/p>\n<p>After Hong Kong introduced its <a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/news\/bitcoin-btc\/hong-kong-stablecoin-licensing-framework-now-in-effect\/\" target=\"_blank\" rel=\"noopener\">licensing system for stablecoins <\/a>in August, several Chinese firms from the mainland wanted in on the action and rushed in to apply as well. This led many in the crypto space to believe that the government might be softening its stance on crypto.<\/p>\n<p>However, it was not to be. Gongsheng dismissed the rumors and said that the policies will remain in effect. He added, \u201cThe People\u2019s Bank of China will continue, in coordination with law enforcement authorities, to crack down on the operation and speculation of virtual currencies within China.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">China&#8217;s central bank governor Pan Gongsheng has confirmed that the country&#8217;s crypto ban remains in effect, dispelling speculation about potential easing.<\/p>\n<p>Despite Hong Kong&#8217;s stablecoin licensing regime attracting mainland applicants, Pan stated existing prohibitions from 2017\u2026 <a href=\"https:\/\/t.co\/yDQQkOwaq4\" rel=\"nofollow\" target=\"_blank\">pic.twitter.com\/yDQQkOwaq4<\/a><\/p>\n<p>\u2014 KOLYAN TREND (@kolyan_trend) <a href=\"https:\/\/twitter.com\/kolyan_trend\/status\/1984108530178408913?ref_src=twsrc%5Etfw\" rel=\"nofollow\" target=\"_blank\">October 31, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Furthermore, he criticized stablecoins, labeled them as risky and underdeveloped. Moreover, Gongsheng said that they fail to meet basic Anti-Money laundering standards and could potentially enable terror financing.<\/p>\n<p>He closed by saying that the central bank focuses on monitoring risks and that it will be keeping a close eye on the developments of offshore stablecoins.<\/p>\n<p><strong>EXPLORE:\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/crypto-presales\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\">The 12+ Hottest Crypto Presales to Buy Right Now<\/a><\/strong><\/p>\n<h2>$14M Crypto Ponzi Mastermind Arrested In Thailand<\/h2>\n<p>Thai police have busted the man behind $14 million crypto Ponzi scheme. Chinese national Liang Ai-Bing, was operating from a posh three-story luxury home in Bangkok\u2019s Wang Thonglang district.<\/p>\n<p>According to a <a class=\"general-link\" href=\"https:\/\/www.khaosodenglish.com\/news\/2025\/10\/29\/chinese-crypto-fraud-fugitive-arrested-in-bangkok-luxury-home\/\" target=\"_blank\" rel=\"noopener nofollow\">report<\/a>, Thai authorities claim that Bing\u2019s Ponzi scheme had tricked nearly 100 investors, mostly from China, to part with their funds.<\/p>\n<p>The entire scheme centered around a DeFi platform called FINTOCH, which operated from December 2022 to May 2023. It claimed to offer a daily return of 1% and falsely linked itself to Morgan Stanley. An entirely fake proposition, which Morgan Stanley was <a class=\"general-link\" href=\"https:\/\/www.morganstanley.com\/content\/dam\/msdotcom\/global-offices\/pdf\/Indonesia\/Indonesia_Fintoch_Important_Notice.pdf\" target=\"_blank\" rel=\"noopener nofollow\">quick to deny<\/a>.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Thai police have arrested Chinese national Liang Aibing in Bangkok for allegedly leading a crypto-investment fraud through the platform FINTOCH, which defrauded nearly 100 victims of over 100 million RMB. Authorities seized a pistol and ammunition during the raid. Coordination\u2026 <a href=\"https:\/\/t.co\/MtWs76fabj\" rel=\"nofollow\" target=\"_blank\">pic.twitter.com\/MtWs76fabj<\/a><\/p>\n<p>\u2014 Jacob in Cambodia <img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/16.0.1\/72x72\/1f1fa-1f1f8.png\" alt=\"\ud83c\uddfa\ud83c\uddf8\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> <img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/16.0.1\/72x72\/1f1f0-1f1ed.png\" alt=\"\ud83c\uddf0\ud83c\udded\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> (@jacobincambodia) <a href=\"https:\/\/twitter.com\/jacobincambodia\/status\/1983870276954714256?ref_src=twsrc%5Etfw\" rel=\"nofollow\" target=\"_blank\">October 30, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Blockchain <a class=\"general-link\" href=\"https:\/\/x.com\/zachxbt\/status\/1661129110062788608\" target=\"_blank\" rel=\"noopener nofollow\">analyst <\/a>later traced about $31.6 million in USDT flowing through Ethereum and Tron bridges.<\/p>\n<p>To make his operation look legit, Bing invented a fake CEO named Bob Lambert and even used a photo of actor Michael Provenzano to support the fake narrative.<\/p>\n<p>Bing now faces several charges including illegal firearm possession and entering Thailand without proper documentation. Authorities are currently preparing to extradite him to China for further prosecution.<\/p>\n<p><strong>EXPLORE:\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/best-meme-coins\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\">9+ Best Memecoin to Buy in 2025<\/a><\/strong><\/p>\n<h2>Japan\u2019s Yen-Backed Stablecoin\u2019s Launch Marks A Major Step For Crypto Asia<\/h2>\n<p>The Japanese startup JPYC has finally <a class=\"general-link\" href=\"https:\/\/www.japantimes.co.jp\/business\/2025\/10\/27\/tech\/jpyc-first-yen-pegged-stablecoin\/\" target=\"_blank\" rel=\"noopener nofollow\">launched <\/a>its Yen-backed stablecoin as part of the country\u2019s broader push to modernize its financial system.<\/p>\n<p>Bank deposits and Japanese government bonds fully back the coin and each JPYC stablecoin equals exactly 1 Yen.<\/p>\n<p>Noritaka Okabe, CEO of JPYC said, \u201cI believe this is one major turning point in the history of the Japanese currency, and we are pleased to be involved at its center.\u201d<\/p>\n<p>The company has also opened its own exchange service that allows users to convert their Yen into JPYC stablecoins. Okabe said that JPYC plans to issue up to \u00a510 trillion worth of stablecoins over the next three years.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The first Japanese Yen Stablecoin \u201cJPYC\u201d has launched<\/p>\n<p>On Avalanche <img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/16.0.1\/72x72\/1f53a.png\" alt=\"\ud83d\udd3a\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> <a href=\"https:\/\/t.co\/JoFYEKBZEV\" rel=\"nofollow\" target=\"_blank\">pic.twitter.com\/JoFYEKBZEV<\/a><\/p>\n<p>\u2014 voh <img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/16.0.1\/72x72\/1f53a.png\" alt=\"\ud83d\udd3a\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> (@vohvohh) <a href=\"https:\/\/twitter.com\/vohvohh\/status\/1981700086813118767?ref_src=twsrc%5Etfw\" rel=\"nofollow\" target=\"_blank\">October 24, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>To maintain trust and stability, JPYC will keep reserves of traditional assets equal to the value of the coins it issues.<\/p>\n<p>Okabe believes that JPYC will generate enough profit to stay sustainable and that it won\u2019t charge fees for issuing stablecoins unless interest rates drop back to near zero.<\/p>\n<p><strong>EXPLORE:\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/next-1000x-crypto\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\">Next 1000X Crypto \u2013 Here\u2019s 10+ Crypto Tokens That Can Hit 1000x This Year<\/a><\/strong><\/p>\n<div class=\"nnbtc-key-takeaways\">\n<h2 class=\"nnbtc-key-takeaways__title\">Key Takeaways<\/h2>\n<ul class=\"nnbtc-key-takeaways__list\">\n<li class=\"nnbtc-key-takeaways__list-item\">\n        Indian court recognized crypto as property, boosting legal protection for asset holders    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        China reaffirmed crypto ban and warned against stablecoin risks    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        Thailand arrests $14M Ponzi scheme leader, Chinese national Liang Ai-Bing    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        Japan launched its Yen-backed JPYC stablecoin, a major step for crypto Asia    <\/li>\n<\/ul><\/div>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/altcoins\/this-week-in-crypto-news-asia-indian-court-recognizes-crypto-as-property-japan-launches-jpyc-stablecoin-china-categorizes-stablecoins-as-high-risk\/\">This Week In Crypto News Asia: Indian Court Recognizes Crypto As Property, Japan Launches JPYC Stablecoin, China Categorizes Stablecoins As High Risk<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Asia is currently leading the global crypto charge, with countries like Vietnam, India, Japan and South Korea becoming regional crypto hubs. Some of these countries are witnessing an explosion in retail crypto trading, while other are charting frameworks to better govern crypto, providing the broader Asian crypto landscape with roadmaps that they can adapt to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-56220","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/56220","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=56220"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/56220\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=56220"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=56220"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=56220"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}