Japan's Financial Services Agency (FSA) has endorsed a collaborative effort by three major banks to issue a yen-backed stablecoin, marking a significant step in the country's digital currency landscape. This initiative aims to enhance the efficiency and security of digital transactions in Japan. In South Korea, Dunamu, the operator of the cryptocurrency exchange Upbit, has been fined $24.35 million for regulatory violations. This penalty underscores the country's stringent enforcement of financial regulations in the crypto sector. Meanwhile, Hong Kong has sentenced its first unlicensed investment advisor, highlighting the region's crackdown on unauthorized financial activities. Additionally, North Korean hackers have reportedly employed Gemini AI in phishing schemes, raising concerns about cybersecurity threats in the crypto industry.