TLDR

• XRP Ledger validators warned users about fake JPYSC tokens using the stablecoin’s ticker.
• SBI launched JPYSC on June 24 through SBI VC Trade for account holders only.
• SBI has not confirmed any JPYSC issuance on the XRP Ledger or other public chains.
• JPYSC currently cannot move to external wallets or public blockchain networks.
• SBI said public-chain circulation is ready but still awaits tax and regulatory approval.

XRP Ledger (XRPL) validators warned users against fake JPYSC tokens after SBI launched its yen stablecoin. The alert followed claims about a possible XRPL issue. SBI has not confirmed any release.

XRP Ledger Community Flags Fake JPYSC Claims

XRPL validator Vet, Hussein Zangana, said SBI has made no public JPYSC issue on XRPL. Therefore, any current JPYSC ticker remains suspicious.

The warning followed the June 24 launch of JPYSC by SBI Holdings through SBI VC Trade. The launch drew attention because SBI has links with Ripple.

Another XRP community member said monitoring tools now track trustlines linked to known SBI addresses. Those systems could help detect official activity later.

Community checks focus on issuer addresses, trustlines, and token metadata on the XRP Ledger. However, validators said users need SBI confirmation before treating any asset as valid.

The alerts target scam tokens that may copy the JPYSC name or ticker. Such tokens can appear quickly on public ledgers because anyone can create assets.

Vet said JPYSC has received no public XRPL announcement from SBI. As a result, he urged users to verify sources before any interaction.

JPYSC Remains Limited to SBI VC Trade

SBI launched JPYSC as a yen stablecoin for SBI VC Trade account holders. SBI Shinsei Trust Bank issues the token, while SBI VC Trade distributes it.

The stablecoin came from a joint effort between SBI and Startale Group. It operates as a trust-type electronic payment instrument under Japan’s framework.

SBI said this structure removes the ¥1 million transaction cap applied to some payment products. The company presented JPYSC as a regulated yen stablecoin.

For now, SBI keeps JPYSC inside SBI VC Trade accounts. Users cannot withdraw the token to external wallets or blockchains.

SBI said it has completed technical and operational work for public blockchain circulation. Yet the company still awaits regulatory and tax treatment before transfers.

The company has not named any public chain for JPYSC deployment. Therefore, XRP Ledger links remain unconfirmed despite community speculation.

SBI Chairman and CEO Yoshitaka Kitao called blockchain migration in finance “irreversible.” He described JPYSC as part of Japan’s blockchain finance infrastructure.

Startale founder Sota Watanabe said external wallet transfers are technically ready. He said remaining issues relate mainly to regulation and tax rules.

No SBI statement has connected JPYSC to the XRP Ledger. Community members continue tracking issuer activity while warning users against fake tokens.

South Korea’s Personal Information Protection Commission (PIPC) has ordered cryptocurrency exchange Bithumb to pay a $136,000 fine after finding that the platform violated the country’s personal data protection rules by transferring user information overseas without obtaining separate consent.

In a notice published Thursday, the regulator said the breach occurred during Bithumb’s processes for sharing order books and transferring virtual assets with overseas exchanges. The PIPC’s findings place additional compliance pressure on major South Korean trading venues as authorities tighten both privacy and financial-crime controls.

Key takeaways

• The PIPC fined Bithumb $136,000 for transferring personal data abroad without separate consent during certain exchange-to-exchange operations.
• The regulator linked the violation to order book sharing and virtual asset transfers tied to overseas platforms.
• PIPC acknowledged that anti-money laundering (AML) needs can justify data provision, but said overseas personal data transfers still require strict adherence to legal procedures and the data subjects’ self-determination rights.
• Bithumb’s case comes amid heightened scrutiny from South Korean regulators and law enforcement, following past enforcement actions and reported raids.

PIPC’s rationale: AML use is not a blanket permission

According to the PIPC, Bithumb transferred personal information overseas in connection with order book sharing and virtual asset transfers involving foreign exchanges. The regulator concluded that the exchange handled personal data in a way that did not satisfy the consent and procedural requirements set out under South Korea’s Protection Act.

The notice also explained the logic of its decision. The PIPC said there is a necessity to provide personal information for AML purposes when transferring virtual assets to other exchanges. However, when it comes to overseas transfers of personal data, the PIPC emphasized that the data subject’s right to control their information must be respected through strict compliance with required procedures.

“As this is a closely related matter, it is necessary to strictly comply with the requirements and procedures stipulated in the Protection Act,” the PIPC said in its notice (translation).

The PIPC’s published decision is available on the regulator’s website.

Tether order-book sharing and overseas exchange data handling

While privacy regulators rarely disclose every operational detail in enforcement notices, the PIPC’s account connected Bithumb’s breach to specific activities. The regulator said the incident was related to Bithumb sharing Tether (USDT) order books with BingX between September and November 2025.

The PIPC noted that Bithumb had obtained consent to share data with Stellar, but the order-book sharing described in the notice involved an overseas exchange partner—where the regulator determined separate consent for the overseas personal data transfer was not obtained.

In addition to the order book-sharing matter, the PIPC said the violation also involved Bithumb sharing user information with 13 overseas exchanges. Taken together, the regulator’s framing suggests the problem was not limited to a single counterpart; rather, it reflected how personal data was handled across multiple foreign relationships during exchange operations.

Why this matters for South Korea’s crypto compliance landscape

South Korea has been one of the most actively regulated crypto markets in Asia, and enforcement actions have increasingly targeted more than just anti-money laundering. The PIPC’s decision underscores that exchanges operating locally must manage privacy obligations with the same rigor they apply to financial compliance.

For investors and market participants, the practical effect is straightforward: compliance failures can lead to fines and reputational damage, and repeated regulatory scrutiny can influence how quickly exchanges adapt their systems for data handling, third-party information sharing, and cross-border workflows.

Just as importantly, the PIPC’s reasoning draws a line between AML-related data sharing needs and what it described as the separate right of data subjects regarding self-determination. In other words, AML necessity does not automatically override consent and procedural safeguards when personal data crosses borders.

Bithumb under pressure amid broader enforcement and public attention

Bithumb is among the largest crypto exchanges in South Korea, and the PIPC fine adds to an already difficult regulatory environment for the platform.

Earlier, South Korea’s financial watchdog imposed a six-month suspension on Bithumb’s activities in March over alleged violations of the country’s Financial Information Act. A court later reversed that decision in April, but the history shows that Bithumb’s compliance challenges have been a recurring theme.

More recently, police reportedly raided Bithumb’s offices as part of an investigation into alleged nepotism involving South Korean lawmaker Kim Byung-gi. While that matter is separate from the PIPC’s personal data ruling, it contributes to the perception that the exchange remains at the center of multiple, overlapping investigations.

Related coverage in earlier reporting noted: Cointelegraph previously reported on the financial watchdog’s suspension decision (link).

South Korea crypto regulation isn’t slowing: taxes and law-enforcement upgrades

The fine arrives as other policy and enforcement developments continue to shape the South Korean crypto market. The country’s Finance Ministry confirmed in May that a 22% tax on cryptocurrency gains will be imposed starting in January 2027, after earlier timelines shifted away from an expected 2025 start. According to the Yonhap news agency, about 16 million South Koreans were invested in digital assets as of March 2025.

Separately, Chainalysis said it signed a memorandum of understanding with the Korean National Police Agency (KNPA) aimed at building investigative capability within South Korea’s law enforcement. Earlier coverage tied the pact to efforts to combat North Korea-linked crypto attacks, with police “at the forefront” of tackling these threats.

Earlier coverage mentioned: Cointelegraph reported on the Chainalysis and KNPA memorandum of understanding (link).

For traders, developers, and users, the combined picture is clear: compliance requirements in South Korea are broadening across privacy, taxation, and investigative capability—meaning operational choices like cross-border data sharing during exchange partnerships are now likely to be scrutinized more closely.

Going forward, market watchers should focus on how major exchanges revise consent management and cross-border data-transfer processes, and whether South Korean regulators publish additional guidance or enforcement actions that clarify how AML-driven data provision should be implemented alongside privacy protections.

Bitcoin slid to fresh 21-month lows Thursday at the Wall Street open, falling back toward the $58,000 area as a hotter-than-expected US inflation print rattled risk assets. The move underscored how tightly BTC trading has been tied to broader market volatility when macro data hits.

According to TradingView data cited in the report, BTC/USD on Bitstamp dipped to $58,035—an area last seen in September 2024. The pressure intensified shortly after the release of the May Personal Consumption Expenditures (PCE) report, with equities swinging sharply at the open.

Key takeaways

• BTC returned to levels last traded in September 2024, dropping to about $58,035 on Bitstamp during Thursday’s Wall Street open.
• US May PCE inflation came in at 4.1%, a three-year high for the year-over-year measure, contributing to fast, broad-market sell-offs.
• CoinGlass data cited in the coverage shows more than $600 million in liquidations across crypto within a single hour as BTC fell.
• Traders flagged potential “squeeze” dynamics around key psychological levels below $60,000.
• Technical commentary highlighted weakening $60,000 support and potential new resistance closer to $65,000.

Inflation hits, equities wobble—and BTC follows

The catalyst was the May PCE inflation release. The Bureau of Economic Analysis (BEA) reported that the PCE price index rose 4.1% year over year in May—recording a three-year high. In the monthly comparison, BEA said the PCE price index increased 0.4%, while excluding food and energy it rose 0.3%.

“From the same month one year ago, the PCE price index for May increased 4.1 percent. Excluding food and energy, the PCE price index increased 3.4 percent from one year ago.”

Markets reacted quickly. The report notes that the Nasdaq 100 dropped about 2% within roughly 30 minutes at the open, while the Nasdaq Composite was down modestly around the time of writing. The S&P 500, by contrast, managed a small gain—highlighting dispersion between large-growth and broader benchmarks as investors repriced near-term rate expectations.

Bitcoin’s decline mirrored that “risk-off” impulse. In the minutes after the open, BTC pushed lower in a move that traders often interpret as forced positioning rather than purely discretionary selling—especially given what followed in the derivatives market.

Liquidations top $600 million in an hour

As BTC slid through key levels, derivatives leverage appears to have accelerated the down move. CoinGlass, as referenced in the coverage, logged cross-crypto liquidations totaling more than $600 million over a single hour.

That kind of liquidation burst typically happens when price moves trigger margin calls for leveraged long positions, forcing liquidations that mechanically add to selling pressure. It also tends to increase volatility, making support levels harder to defend in the short term.

The report also included commentary from market participants who suggested the drop may have been intensified by order-book dynamics. A pseudonymous trader identified as “Killa” told X followers that BTC was in a “manipulation phase,” arguing that trading below $60,000 corresponded with a notable “swing low” region and that the orderbook was “stacked below” current pricing.

Bear-market analogies and the $60,000 test

Beyond the immediate macro-driven move, the article frames the latest dip within a broader bear-market pattern. Crypto analyst and trader Niels Klaver, cofounder of STABL Agency, characterized BTC/USD as moving toward what he called the “final leg down” of the current bear market. Klaver referenced a short-term target of $55,000, aligning with earlier popular bearish scenarios circulating among traders.

Other technical commentary focused on whether the market can stabilize after breaking below a key psychological level. The report cites Rekt Capital saying $60,000 support is “clearly weakening,” implying that any attempted rebound may face selling pressure from participants who sell after a breakdown or re-test.

Rekt Capital also pointed to the idea that the current market is behaving similarly to 2022, noting that a widely watched trend indicator—the 50-month exponential moving average (EMA)—is expected to become a resistance area. While that does not guarantee a rejection, it gives investors a concrete “where would resistance show up?” reference point if BTC tries to reclaim higher levels.

Another development highlighted in the report: Rekt Capital suggested that once June’s monthly close arrives, traders will be better able to judge whether July could produce a relief rally “from which price” the market can potentially pivot. This matters because monthly closes often influence how traders assess trend structure, risk management, and the probability of a reversal versus continued breakdown.

What to watch next: support, resistance, and follow-through

For investors and traders, the immediate question is whether BTC can regain and hold above the broken support zone around $60,000, or whether it turns into resistance as liquidation effects dissipate. The report’s cited technical views also imply that any rebound attempt could encounter selling pressure closer to the $65,000 area, with the broader bear-market analogy keeping downside risk in focus.

Going forward, the next macro releases and—just as importantly—whether the market sees sustained follow-through on either side of $60,000 and toward the $55,000 target will likely determine if this is a continuation leg or a transition into consolidation.

Remember BlackBerry? Yes, that BlackBerry: The phone with a physical keyboard that everyone used and suddenly became obsolete after Apple introduced the iPhone.

Well, it’s making a comeback.

The new BlackBerry isn’t a mobile device, but it’s a “mission-critical software layer in the physical AI stack,” and the stock is surging.

BlackBerry hasn’t made a consumer mobile device in years. Instead, it has quietly transformed into a high-tech powerhouse focused entirely on the world of “Physical AI” and robotics.

The secret weapon? The rock-solid software framework called QNX that acts as the “uncrashable” nervous system for autonomous machines. That means BlackBerry’s software is being used by massive chipmakers such as Nvidia and AMD to build smart cars and warehouse robots. The software makes sure those machines move safely with zero lag.

“As intelligent machines become increasingly autonomous and operate around people, the requirements for safety, security, reliability and real-time determinism become even more important,” CEO John Giamatteo said during an earnings call. “Unlike probabilistic AI systems, QNX technology is deterministic and safety certified, which is exactly why it is so hard to replicate and why customers trust it for systems where failure is not an option.”

The number of businesses operating with digital assets and crypto payments just keeps growing. These days, using traditional accounting software with crypto integrations is considered one of the easiest ways to track and reconcile transactions, whether it’s for corporate tax compliance or regular business invoicing.

It’s smart to set up a dedicated accounting system early on, mainly to keep your financial books audit-ready (and avoid a massive spreadsheet headache, of course). In this article, we’ll break down the best accounting software for crypto integrations of June 2026.

Since balancing digital currency requires extreme precision and seamless tracking across multiple blockchains, automated subledger syncing is the go-to solution. We’ve put together a list of top accounting platforms, taking into account their crypto subledger compatibility, ease of use, and multi-currency reporting.

Best crypto accounting software for June 2026

How we picked the most reliable crypto accounting software

Finding the top accounting systems for digital assets required evaluating dozens of corporate finance platforms. Our team gathered operational data from public user reviews, software documentation, and feedback from certified public accountants to shortlist five high-performing systems.

Evaluation metrics prioritized platform scalability, integration stability with Web3 subledgers, and overall multi-currency report accuracy. Direct practitioner reviews provided an objective view of how each platform handles corporate bookkeeping in practice, helping isolate specific operational limitations and workflow strengths.