According to the report of UDN, a subsidiary of China’s Xinwai Media Group, Xinwai Blockchain, set up a company called Asia Pacific Ease Ant Technology Co., Ltd. and a virtual currency trading platform called BitAsset in Taiwan without the approval of the supervisory authority since 2018.
The Taipei District Prosecutors Office found that the Xinwai Blockchain, a subsidiary of Xinwai Media, approached a Taiwanese named Hu Zhilong to establish Asia Pacific Ease Ant Co., Ltd. in Taiwan in 2018 in order to market the company’s virtual currency exchange, Bitassets.
Yesterday, the prosecution directed the Taipei City Investigation Department to conduct searches in eight locations and summoned Hu Zhilong for questioning regarding alleged violations of the “Act Governing Relations between the People of the Taiwan Area and the Mainland Area” and other crimes. After questioning, Hu Zhilong was released on bail of NT$200,000, while the other three former executives were sent back.
