🚫 Asia’s Crypto Crackdowns Heat Up

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Philippines:
Local ISPs have started blocking top exchanges like OKX, Bybit, and Bitget after an SEC warning about unlicensed operations. Websites are down for many users, though mobile apps still work — for now. Binance faced a similar fate in 2024.

India:
Authorities froze $5M in assets linked to convicted Coinbase Pro phishing scammer Chirag Tomar. His crew ran fake Coinbase sites, tricked users into giving logins, then funneled stolen crypto into bank accounts.

Singapore:
Tokenize Xchange faces investor lawsuits after being denied a license. Allegations include commingling customer and company funds. Founder Hong Qi Yu has been charged with fraudulent trading. Over $30M+ in withdrawals remain stuck.

Bottom line: From website blocks to frozen assets and license denials, Asia’s regulators are tightening the screws on unlicensed crypto players.

#Crypto #Regulation #Web3 #Asia