Ripple announced plans to expand digital asset services in Brazil, with plans to apply for a virtual asset service provider license, and has already connected with multiple local institutions to its network, including Banco Genial and Braza Bank, to promote dollar transfers and stablecoin issuance.

The fraud case involving virtual asset trading platform JPEX was re-heard at the Eastern Magistrates' Courts in Hong Kong on March 16, involving 8 defendants, including social media influencers and entertainers. The magistrate adjourned the case to June 1, while police have prosecuted 16 people in connection with this case.

South Korea's Financial Supervisory Service and other institutions signed an agreement on March 17 aimed at blocking phone scam and virtual asset crime funding chains by analyzing overseas credit card usage data and entry/exit records. The new mechanism will enable information sharing among various institutions and strengthen monitoring and response to abnormal transactions.

Gate News, on March 17, Sui Developers released a tweet stating that Sui's new virtual machine has been launched for testing, and a bug bounty program has been simultaneously opened. According to the introduction, the new virtual machine launched this time includes three core technology upgrades: a complete rewrite of the execution engine, faster caching mechanisms, and a next-generation Move language upgrade.

Korea's National Police Agency completes draft virtual asset management directive, first time including dark coin management and clarifying software wallet solutions. Over the past 5 years, virtual assets worth approximately 54.5 billion won have been seized, with police planning to select private custodian institutions. Experts recommend establishing a government-led custody system.

South Korea's financial intelligence unit imposed a 6-month partial shutdown and a 368 billion won fine on a certain CEX for violating anti-money laundering obligations. The inspection found numerous regulatory violations and customer identification issues. During this period, existing user transactions were not affected, but virtual asset transfers for new users were restricted.

Latest statistics show that the on-chain transaction volume of global stablecoins in 2025 is approximately $25 trillion, but actual payments account for less than 1%. Experts point out that most transactions stem from internal fund transfers, inflated trading volumes, and high-frequency speculation. Leading virtual currency payment institutions process approximately $132 billion in stablecoin payments.

The Korea National Tax Service is building a tracking system for cryptocurrency investment income, which will officially start taxing in 2027. The system will analyze transaction data, identify tax evasion behaviors, and is expected to go live within the year, incorporating artificial intelligence technology for abnormal transaction analysis. The tax standard applies a 22% rate to the portion of annual earnings exceeding 2.5 million Korean won.

Gate News Report, March 12 — According to Gate Market Data, as of press time, PIXEL (Pixels) is trading at $0.01, up 46.40% in the past 24 hours, with a high of $0.02 and a low of $0.00. The 24-hour trading volume reached $382 million. The current market capitalization is approximately $46.5 million, an increase of $14.7 million from yesterday. Pixels is a blockchain-based gaming platform where users can build games with native integrated digital collectibles. Players can interact with friends by managing estates, raising animals, harvesting energy, and more, earning rewards in the process. The platform supports players owning virtual land with blockchain-verified ownership, allowing them to create their own unique worlds. Pixels has over 10 million players, forming a large community of We

Gate News Report, March 12 — Sources reveal that HSBC, Standard Chartered, and Hong Kong-based virtual asset trading platform OSL will be among the first institutions to receive a Hong Kong stablecoin license. The report states that the list may be announced as early as next week, but nothing has been finalized yet, and changes are still possible. The Hong Kong Monetary Authority responded by saying they do not comment on market rumors.