Singapore Police investigate 49 individuals for crypto account transfers linked to money laundering, uncovering over SGD 200,000 in illicit funds.
Ant Group’s overseas arm seeks stablecoin licenses in Hong Kong, Singapore, and Luxembourg to expand its blockchain-based cross-border payment services.
Gemini reports centralized entities now hold 31% of Bitcoin’s circulating supply, indicating a shift toward institutional dominance in the crypto market.
SINGAPORE POLICE LAUNCH CRACKDOWN ON “CRYPTO ACCOUNT TRANSFERS FOR MONEY LAUNDERING”
On June 12, 2025, the Singapore Police Force’s Anti-Scam Centre, in collaboration with local cryptocurrency platform StraitsX, conducted an enforcement operation from May 13 to 30 targeting the use of crypto accounts for money laundering.
The operation uncovered more than SGD 200,000 (approximately USD 150,000) in illicit funds. A total of 49 individuals are under investigation for suspected involvement in money laundering activities, including 35 men and 14 women, aged between 18 and 58.
Preliminary investigations revealed that suspects typically contacted unknown third parties via messaging platforms such as Telegram or WhatsApp.
They were instructed to open or transfer cryptocurrency accounts or Singpass accounts (Singapore’s digital identity system) in exchange for compensation ranging from SGD 400 to SGD 3,000.
These individuals provided account screenshots, personal information, and access credentials, which were subsequently used to launder proceeds from scam activities.
ANALYSIS:
As cryptocurrencies become increasingly mainstream, crimes like money laundering are growing more complex.
Governments and enterprises must strengthen technical oversight—such as blockchain tracking and KYC (Know Your Customer) protocols—while intensifying public education to prevent ordinary individuals from unknowingly becoming part of criminal operations.
In addition, cross-border cooperation will likely become a key focus, given the international nature of crypto-related fund flows.
ANT GROUP TO APPLY FOR STABLECOIN LICENSES IN HONG KONG AND SINGAPORE
According to a June 12 report by Bloomberg, Ant International—the overseas arm of Ant Group, headquartered in Singapore—plans to apply for stablecoin issuance licenses in both Hong Kong and Singapore.
Sources say that Hong Kong’s Stablecoins Ordinance will take effect in August, and Ant International will apply for a license immediately after it becomes effective. The company also intends to pursue a similar license in Luxembourg.
This strategic move aims to strengthen Ant International’s blockchain business, particularly in cross-border payments and treasury services.
Reportedly, in 2024, Ant Group processed more than USD 1 trillion in global transactions, about one-third of which were handled through its blockchain-based Whale platform.
ANALYSIS:
Ant International’s application for stablecoin licenses signals its ambitions in the digital finance and blockchain sectors.
As stablecoins offer low-cost and high-efficiency advantages in cross-border payments and asset management, regulatory approval would allow Ant to standardize its operations.
Supported by its Whale platform—which already handles a third of the firm’s trillion-dollar global transactions—formal licensing would boost competitiveness and strengthen trust among users and regulators alike.
GEMINI: CENTRALIZED ENTITIES HOLD 31% OF BITCOIN’S CIRCULATING SUPPLY
According to a June 12 research report from Gemini, centralized entities—such as governments, exchange-traded funds (ETFs), and publicly listed companies—currently hold approximately 6.1 million Bitcoins, or 30.9% of the total circulating supply.
These holdings are valued at about USD 668 billion, marking a 924% increase over the past ten years. Centralized exchanges account for roughly half of this amount.
The report points out that Bitcoin wallets held by governments exhibit minimal transaction activity and are mostly uncorrelated with broader market cycles. However, the size of these holdings remains significant enough to influence the market under certain conditions.
The study concludes that the fact centralized entities now control nearly a third of Bitcoin’s supply reflects a structural shift toward institutional maturity in the crypto market.
ANALYSIS:
That 30.9% of Bitcoin’s circulating supply is now held by centralized institutions illustrates a market transition from being retail-driven to institutionally dominated.
This trend demonstrates increasing recognition of Bitcoin’s store-of-value potential—often described as “digital gold”—especially propelled by ETFs and corporate treasuries like MicroStrategy.
However, the fact that around half of these holdings are concentrated in exchanges also highlights the risk of market centralization, which could amplify systemic vulnerabilities in times of stress.
〈CoinRank Crypto Digest (6/12)｜Centralized Entities Hold 31% of Bitcoin’s Circulating Supply〉這篇文章最早發佈於《CoinRank》。
