A Hong Kong court has ruled in favor of two investors in a civil suit against the defunct JPEX crypto exchange, granting them 1.85 million Hong Kong dollars (approximately $238,000). This ruling highlights the ongoing challenges for victims of cryptocurrency fraud in the region, as recovery efforts face hurdles due to limited legal precedents and a six-year statute of limitations. Meanwhile, Gemini has received preliminary approval for a Major Payment Institution license in Singapore, positioning it to expand its operations in the APAC region. Central bankers at a recent seminar criticized stablecoins, arguing against their role as private money, expressing discomfort with their influence on the financial system. RBI Governor Shaktikanta Das emphasized the importance of central bank-issued currency over private options. In a related incident, Thai authorities arrested scammers who defrauded an investor of around $620,000 and used the proceeds to purchase luxury real estate in Bangkok, demonstrating the persistent issues surrounding cryptocurrency scams in the region.

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