Home / Policy Tracker / Policy Event
Policy Event · High impact

Bitrace Links Gate Stolen Funds To Xinbi And Newpay Laundering Channels

Bitrace reporting in the policy channel linked roughly $1.7 million in stolen Gate-related funds to Xinbi guarantee groups and Newpay addresses following the Huione crackdown. The case signals that Southeast Asian illicit guarantee platforms are reorganizing rather than disappearing, requiring updated KYT address clusters.

High impact🌐 GlobalAMLEnforcementExchangeETHUSDTBitraceGate.ioXinbiNewpayHuione Group

APAC FINSTAB analysis

Although this is outside core APAC, it is relevant because global market-structure, enforcement, and stablecoin precedents often shape licensing expectations for APAC exchanges, issuers, custodians, and DeFi teams. Protocols/assets in scope: ETH, USDT. Named institutions or platforms: Bitrace, Gate.io, Xinbi, Newpay, Huione Group. Teams should monitor the original source, map the change to licensing, custody, disclosure, and market-access obligations, and update their jurisdiction playbooks before the next compliance review.

Compliance read-through: map this event to entity licensing, market-access, custody, disclosure, token listing, and operational-risk obligations before expanding or marketing in the affected jurisdiction.

View related AML tracker page →

Related policy events

Korean Police Probe Alleged Pressure On Upbit Stablecoin Fee Promotion

South Korean police are reportedly investigating allegations that a former aide to lawmaker Kim Byung-gi pressured financial regulators to push Upbit operator Dunamu to end USDC and USDT fee discounts. The case raises regulatory-capture and fair-competition risk around exchange stablecoin pricing.

High impact🇰🇷 South KoreaEnforcementExchangeStablecoinRegulationUSDCUSDT
APAC FINSTAB analysis → Original source ↗

MiCA CASP Register Shows Narrow Class 3 Exchange Authorization Path

Policy-channel coverage of the post-transition MiCA register showed that only a limited set of platforms appear to hold higher-risk trading-platform authorization while several global exchanges are absent or listed under narrower service classes. The distinction matters because EU access depends on service scope, not merely a generic CASP presence.

High impact🌐 EULicensingExchangeRegulationBTCETHUSDTUSDC
APAC FINSTAB analysis → Original source ↗