Yesterday, the Taipei District Prosecutors Office brought back Hu Zhilong, the head of Asia Pacific Easenet Technology Co., Ltd., for questioning under the Taiwan Relations Act between Taiwan and Mainland China. After the hearing, he was released on bail of NT$200,000. It is understood that “BitAsset,” a subsidiary of China’s Xinpai Media Group, established Asia Pacific Easenet Technology Co., Ltd. in Taiwan in 2018 without the approval of the Investment Review Department of the Ministry of Economic Affairs. The main business of Asia Pacific Easenet Technology Co., Ltd. is operating a cryptocurrency exchange.
In addition, the investigation found that Hu Zhilong deliberately concealed the company’s Chinese background and illegally recruited people in Taiwan to use BitAsset for cryptocurrency trading activities. Xinpai Media Group is an entertainment and film and television group based in Beijing, China. It has invested in various content and has many artist management contracts. For example, the well-known Chinese costume drama “The Untamed” in 2019 was produced by the company.
Meanwhile, the Taiwan Cryptocurrency Merchant Association held its first member assembly on June 13, with 24 companies that have completed the Financial Supervisory Commission’s “List of Virtual Currency Platforms and Trading Business Operators Who Have Complied with Anti-Money Laundering Regulations” joining the association. However, despite completing the compliance declaration, three companies have encountered issues consecutively. This includes Zhang Yuting, the head of the cryptocurrency exchange CoinJing, who was involved in the 2022 88 House money laundering case. In January of this year, Pan Yizhang, the former and current head of ACE Exchange, and Wang Chenhuan were implicated in a cryptocurrency fraud case. Hu Zhilong, the head of Asia Pacific Easenet Technology Co., Ltd. (BitAsset), is involved in the violation of the Taiwan Relations Act between Taiwan and Mainland China.
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