The trading platform "Asia-Pacific Eant" BitAsset was involved in mainland-owned operations, and two people in charge were prosecuted
Taipei prosecutors prosecuted the virtual currency exchange Asia-Pacific BitAsset for violating the Cross-Strait People's Relations Regulations, and the two responsible persons were prosecuted.
(Preliminary summary: The banker colluded with the fraud group to open an account. "The price was exposed for the first time." Is it as cheap as the lawyer involved? )
(Background supplement: The fraud was ridiculed by the police, "How can you still be alive?" The mother and daughter collapsed and committed suicide! Behind it was the veteran jeweler USDT money laundering)
Taipei District Prosecutor's Office June 12 Japan indicted the virtual currency trading company Asia Pacific Eant Technology, former head Hu Zhilong, current registration head Guo Baicun and company representative Guo Hongze on charges including concealing mainland capital, violating the Company Law and the Cross-Strait People's Relations Regulations.
The case is based on a cooperation agreement in 2018. Xinpai Blockchain Technology, a subsidiary of Xinpai Media Group, is the financial backer and technology provider. The prosecutor determined that Asia Pacific Eant was essentially controlled by Chinese funds and believed that the encryption trading platform was focused on hiding mainland capital, so it criminally prosecuted it.
The prosecution charged: false capital increase of 5 million yuan, decision-making required Chinese consent
The indictment shows that Hu Zhilong transferred 5 million yuan into the account before the company was established as proof of capital increase, and then withdrew it after completing the registration, violating the provisions of the Commercial Accounting Law and the Criminal Law on false capital. Prosecutors emphasized that major personnel, financial, and business decisions must be approved by Xinpai Blockchain, and even company seals and documents must be signed online through China's DingTalk platform.
"The investigation shows that Asia Pacific Eant Technology Company is essentially controlled by China's Xinpai Blockchain. The company's major personnel, financial, and business decisions must be approved by the Chinese side. Even the company's seal and documents must be signed off at all levels through China's "DingTalk" platform."
Guo Baicun took over as the person in charge in December 2018 and will serve until November 2023. Prosecutors alleged that he was aware of his Mainland Chinese background but still received his salary in name, violating Article 73 of the Cross-Strait People's Relations Ordinance.
The prosecutor’s investigation found that if Asia Pacific Eant had a funding gap during operations, Xinpai employee Gao Yanxiang would make up for it through third-party remittance. This move was regarded by prosecutors as direct evidence of the substantial control of mainland investors.
Legislative acceleration: VASP special law public hearing debuted on the same day
On the day the indictment was announced, the Legislative Yuan held a public hearing on the "Virtual Asset Services Law" to discuss VASP licenses, anti-money laundering and market manipulation defense lines. Information from the central bank at the meeting showed that stablecoins accounted for more than 80% of Taiwan’s crypto trading volume, and authorities were concerned about transparency and cross-border capital flows.
Asia-Pacific regulatory trends are also tightening: the Hong Kong Securities Regulatory Commission requires centralized trading platforms to be licensed and comply with KYC and anti-money laundering regulations; Japan revised the "Payment Services Act" to authorize the issuance of "domestic custody orders" to poorly operating foreign exchanges to protect investors.
