This week, the Asia-Pacific region led the charge in crypto news. Firstly, the finance tech company, Circle, got set for the imminent launch of its USDC stablecoin in Japan. Next, over a hundred Australians fell prey to an SMS-based crypto scam. Finally, US President Donald Trump’s media company partnered with Singapore-based Crypto.com to launch its ETF. Read more about these stories below and why they matter to regulators, compliance officers and investigators.
Circle to launch USDC stablecoin in Japan
Circle, the issuer of the USDC stablecoin, is set to launch USDC in Japan on March 26, 2025, through a partnership with the locally based financial group, SBI Holdings. This follows regulatory approval from Japan’s Financial Services Agency under its electronic payment framework.
Circle CEO, Jeremy Allaire, praised Japan’s proactive stance on Web3 and stablecoin regulation, noting the country’s leadership in digital finance. The partnership reflects a two-year effort to align with Japanese regulations. SBI Holdings CEO, Yoshitaka Kitao, emphasized that the initiative aims to boost financial accessibility and drive digital asset innovation in Japan.
USDC’s entry into Japan signifies a major step in Circle’s global expansion and reflects the growing importance of the Asia-Pacific region, which accounts for as much as 29% of global digital currency transaction volume. USDC currently has a market cap of nearly $59.7 billion and has been gaining traction across Asia, including recent adoption in the Philippines.
Why this matters:
Japan just became the latest battleground for stablecoin dominance—and USDC has a first-mover edge. Circle’s launch of USDC in Japan, backed by regulatory greenlight and local heavyweight SBI Holdings, gives USDC a compliant on-ramp into one of Asia’s most tightly regulated but high-potential crypto markets.
Takeaway for compliance pros:
This isn’t just about expansion—it’s about how Circle navigated Japan’s strict electronic payment laws. It signals Japan is open for stablecoin business if firms are willing to play by the rules. Watch this space: more stablecoin issuers may follow suit, and regulators across Asia could take cues from Japan’s framework.
Find out more about this story at Coindesk.
130 Australians fall victim to SMS-based crypto scam
A sophisticated cryptocurrency scam has targeted more than 130 Australians, with fraudsters pretending to be Binance, a major crypto exchange. Victims received text messages embedded within legitimate message threads, making the scam appear more credible.
These messages claimed users’ accounts were compromised and instructed them to transfer their crypto assets to a so-called “trust wallet” for safekeeping, while in fact, the wallet was controlled by the scammers.
The ploy exploited a vulnerability that allows spoofed texts to merge into existing conversations. Once funds were transferred, they were rapidly moved through multiple digital wallets, making it nearly impossible to retrieve the funds.
Australian Competition and Consumer Commission deputy chair Catriona Lowe urged users to verify suspicious messages directly with platforms and report scams. Meanwhile, Binance chief security officer Jimmy Su added that user safety was a top priority for Binance, emphasizing that educating the public was a critical measure in the fight against scammers.
Why this matters:
This scam shows just how far fraud tactics have evolved—spoofing legitimate message threads to impersonate Binance and drain users’ funds. Over 130 Australians were hit, and the attack exploited a telco-level loophole that let fake texts blend into real ones, tricking victims into sending crypto straight to scam wallets.
Takeaway for compliance teams and investigators:
This is a red flag for telecom infrastructure as a new attack vector in crypto scams. It also highlights the growing need for real-time wallet tracing, user education, and cross-sector coordination—crypto platforms, regulators, and telecoms all have a role to play. Expect more of these hybrid scams blending tech and social engineering.
Find out more about this story at News.com.
US President Trump’s TMTG partners with Singapore’s Crypto.com to launch ETF
The Trump Media & Technology Group Corporation (TMTG), the parent company of the US President’s social media platform, Truth Social, has partnered with Singapore-based Crypto.com to introduce “Made in America” exchange-traded funds (ETFs). They will focus on digital assets and securities within U.S. industries.
Crypto.com will provide the technological infrastructure, custody solutions, and cryptocurrency support for these ETFs, which are slated for launch later this year, pending regulatory approval. TMTG also plans to offer separately managed accounts (SMAs) through its fintech division, Truth.Fi, encompassing stocks, bonds, and other instruments, with Charles Schwab Corp. serving as custodian.
This initiative aligns with President Donald Trump’s pro-cryptocurrency stance and his ambition to establish the U.S. as a global crypto hub.
The reversal of fortunes for Crypto.com demonstrates how different leadership on cryptocurrencies can impact the markets: It is a far cry from the Biden administration’s stance on Crypto, during which time the US regulatory watchdog, the Securities and Exchange Commission, had intended to sue Crypto.com for running a non-compliant securities exchange.
Regulators should be mindful of how different political approaches to cryptocurrencies can impact on their legal actions.
Find out more about this story at Businesstimes.
