Cambodian Tycoon Chen Zhi Extradited to China Over $12B Crypto Scam

Published at 2026-01-08 03:30:09

Chen Zhi was arrested in Cambodia and handed over to Chinese authorities on January 7, 2026, tied to an alleged $12 billion cryptocurrency fraud scheme. Chinese prosecutors are expected to open formal investigations and pursue charges related to the sprawling case, which authorities say affected large numbers of investors and involved complex on- and off-chain operations.

The extradition underscores growing international cooperation in tackling high-value crypto crime and may accelerate asset-tracing and restitution efforts for victims. For the wider market, the case reinforces regulatory pressure on opaque crypto platforms and highlights the risks investors face in unregulated schemes, potentially prompting renewed calls for stronger cross-border enforcement and clearer safeguards in crypto services.

ChinaCambodiaCryptoScamExtraditionLaw Enforcement

Share on:

Seoul plans to direct 25% of its $499.2 billion (₩728 trillion) state budget into digital assets by 2030, roughly $124.8 billion (≈₩182 trillion). The move marks a major public bet on blockchain, tokenization and crypto infrastructure.

South KoreaDigital AssetsCryptoBlockchainPublic Spending

Published at 2026-01-09 09:30:07

UK FCA to Launch Crypto Licensing Regime in September 2026

The UK Financial Conduct Authority will open applications in September 2026 for a new crypto licensing regime that takes effect in October 2027. Firms that don't secure authorization in time risk transitional limits on offering new services.

RegulationFCAUKCryptoLicensingCompliance

Published at 2026-01-09 09:15:07

Colombia's DIAN Requires Crypto Firms to Report Transaction Data

Colombia’s tax authority DIAN issued Resolution 000240 requiring cryptocurrency service providers to report transaction data, expanding oversight of the sector. The move aims to boost transparency and support tax and anti‑money‑laundering enforcement.

RegulationColombiaCryptoTaxComplianceDIAN

Published at 2026-01-09 07:30:12

Florida Lawmakers Propose State-Run Bitcoin Reserve Bill

Florida lawmakers introduced a bill on Jan 9 proposing a state-run Bitcoin reserve to diversify the treasury and hedge against inflation. If passed, the measure would make Florida one of the first U.S. states to hold BTC on its balance sheet.

LegislationBitcoinCryptoTreasuryFloridaFinance

Published at 2026-01-09 06:15:08

Delphi Digital and Polymarket Launch 11 New Crypto Prediction Markets

Delphi Digital has partnered with Polymarket to convert 11 of its research forecasts into tradable prediction markets, now live. The initiative lets traders bet on research outcomes and provides market-based signals for crypto trends.