Welcome to the Asia-Pacific Morning Brief—an essential summary of overnight cryptocurrency developments that shape regional markets and global sentiment. Prepare your green tea and stay tuned.
Japan maintains a stable monetary policy amid trade uncertainties. A Korean court sentenced a Chinese fraud money launderer who used USDT. Trump's cryptocurrency report briefly mentions a strategic Bitcoin reserve framework despite campaign promises.
Japan Likely to Maintain Current Interest Rates
The Bank of Japan will open its second policy meeting on Thursday. Governor Ueda and eight board members are highly likely to maintain borrowing costs as they are. This will be the fourth consecutive meeting without rate adjustments since January.
Recent successful US-Japan tariff negotiations have somewhat reduced market uncertainties. However, central bank officials are demanding more comprehensive data on corporate impacts. Many policymakers argue for thorough analysis before considering changes.
The BOJ will announce its economic forecast through the 2027 fiscal year on Thursday. Rising rice prices and persistent inflation will influence growth estimates.
Japan's cautious approach is similar to the Federal Reserve's decision on Wednesday evening. US officials maintained rates between 4.25-4.50%. Both central banks prioritize economic stability amid global trade uncertainties.
Korean Court Sentences Chinese Investment Fraud Money Launderer
A Korean court sentenced a man to three years in prison for laundering Chinese investment fraud proceeds through USDT stablecoin. Local Korean media reported that the defendant had been acting as a "laundering agent" since December 2023, converting criminal proceeds into cryptocurrency.
He collaborated with a Chinese investment fraud organization, transferring funds to third-party accounts, converting them to cash, and delivering them to USDT sellers. From January to March 2024, he laundered fraud funds worth 650 million won (approximately $467,861) and earned about 120 million won (approximately $86,374) in fees.
The court considered him not just an accomplice but a co-conspirator in investment fraud, applying money laundering and fraud charges. The judge noted that the defendant maintained close relationships with Chinese criminal organization leaders, recruited other money launderers, and provided criminal infrastructure.
White House Cryptocurrency Report Mentions Bitcoin Strategic Reserve
Trump's digital asset policy report dedicates only one page to strategic Bitcoin reserves. This single-page section is included in a comprehensive 166-page study released on Thursday. Trump had promised detailed assurances about reserves multiple times during his presidential campaign.
The simple framework describes a Treasury Department management plan exclusively using confiscated government Bitcoin. Held assets are generally maintained as strategic reserve assets while avoiding sales. However, the report did not include specific plans for additional Bitcoin purchases.
Bloomberg reported that administration officials will soon provide more details. White House cryptocurrency advisor Bo Hines promised that "people will be very satisfied." The Treasury is working on infrastructure development.
Contributed by Mori Shigeki.
