BBVA Facing €180 Million Fine in Spying Case, Prosecutor Says
BBVA SA is facing a potential fine exceeding €180 million ($206 million), while the bank’s former chairman could receive a 173-year prison sentence, according to Spanish prosecutors. This is part of a prolonged criminal investigation into accusations of corporate espionage.
The bank is being penalized for ongoing active bribery and for offenses related to the discovery and disclosure of private information, including its sharing with third parties, as detailed in a document reviewed by Bloomberg.
The ex-chairman, Francisco Gonzalez, may be sentenced to 173 years in prison, although officials believe he is unlikely to serve more than 15 years if convicted, due to the Spanish legal system.
The investigation revolves around alleged payments to a former high-ranking police officer to gather information on competitors, politicians, and journalists. In early 2020, the bank and several executives were formally investigated, and the prosecutor has also suggested that 10 other suspects should receive prison sentences.
Vietnam firms vie to launch crypto exchanges ahead of ban on overseas trading
Vietnamese companies are vying to establish the country's first licensed cryptocurrency exchanges as the government takes steps to limit trading on foreign platforms in one of the world's most vibrant crypto markets.
Hanoi intends to launch a pilot program for domestically operated digital-asset exchanges as early as this month, as outlined in a government resolution released in February. This initiative is part of a broader effort to strengthen the regulation of crypto trading and capital movements.
Vietnam has established itself as one of the globe's most active crypto markets, ranking fourth worldwide in last year's Global Crypto Adoption Index produced by blockchain data firm Chainalysis, which estimated that transactions involving Vietnamese traders surpassed $200 billion in the year ending in June. Authorities have become increasingly alarmed about the use of cryptocurrencies and stablecoins amid their growing popularity in the region, heightening the risk of unregulated capital outflows.
Bithumb hit with $25M fine and 6-month suspension after 6.6M compliance breaches
South Korea’s Financial Intelligence Unit (FIU) has levied a fine of 36.8 billion won ($25 million) and imposed a six-month partial business suspension on the cryptocurrency exchange Bithumb. This action follows the discovery of over 6.6 million violations of the nation’s financial reporting and compliance regulations.
The enforcement measure is a result of regulatory inspections carried out from 2024 to 2025 across the five major exchanges in South Korea: Upbit, Bithumb, Coinone, Korbit, and Gopax, reflecting the nation's ongoing efforts to strengthen oversight of digital asset trading platforms.
Officials stated that the violations were mainly due to shortcomings in customer identification and transaction monitoring, as stipulated by South Korea's Act on Reporting and Use of Specific Financial Transaction Information.
