The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Japan's financial regulator has finalized plans to reclassify 105 cryptocurrencies as financial products, Asahi reported.
The exchange is exploring measures including requiring companies to undergo fresh audits if they pivot into large-scale crypto accumulation.
MAS Managing Director Chia Der Jiun said that tokenization has moved beyond experimentation and is now used in real-world applications.
The FSA is considering a new system that would require crypto custody and trading management service providers to register with authorities.
Japan's FSA announced its support for a stablecoin pilot project involving the country's three major banks — Mizuho Bank, MUFG, and SMBC.
The Hong Kong SFC said it will allow local crypto exchanges to share global order books with their overseas trading platforms.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
SFC Chair Kelvin Wong Tin-yau said the regulator will step up investor education efforts on DATs and their risks.
The country is also planning to create a national cryptocurrency reserve that will include BNB tokens, CZ said on X.
Goyal also reiterated the government’s discouragement of cryptocurrencies, saying that they remain subject to heavy taxation.
The Hong Kong Monetary Authority has proposed softer capital requirements for banks holding certain crypto assets, Caixin reported.
Bybit has restored full access to its app on both the App Store and Google Play for users in India. Its website is being restored in phases.
The new rules come from South Korea's new guideline on crypto lending services for local exchanges, aiming to protect investors.
South Korea’s FSC chief nominee Lee Eok-won said cryptocurrencies have no intrinsic value and differ from traditional financial products.
Philippine Senator Bam Aquino said at the Manila Tech Summit that he plans to file a bill in the next couple of weeks, local media reported.
Zhou questioned real benefits of stablecoin adoption, suggesting China's financial system is already making progress under centralization.
The bill stipulates that the reserve must not be sold or traded for any purpose except to retire government debt.
South Korea's Financial Services Commission said crypto lending services exist in a legal gray area and could result in user losses.
Thai officials said the country aims to boost tourism by allowing foreign visitors to convert crypto assets into Thai baht for spending.
The country's President Lee Jae Myung has pledged to establish a local currency stablecoin market to strengthen its monetary sovereignty
Japan's Financial Services Agency is expected to approve local firm JPYC to issue its stablecoin this fall, according to Nikkei.
The standards cover management responsibilities, cold wallet infrastructure, third-party wallet oversight and real-time threat monitoring.
While the Chinese authority did not name the project, the description appears to be a reference to World, formerly known as Worldcoin.
Indonesia is expected to implement new crypto tax rules starting Aug. 1, raising the tax rate on transaction values for sellers.
Hong Kong’s new stablecoin regime is set to take effect on Aug. 1 to mandate licensing from the HKMA for stablecoin issuers.
South Korea's central bank installed the division to monitor the crypto market and lead internal discussions on local currency stablecoins.
The regulator said that financial institutions need to abide by the existing 2017 rule until there is a new guideline.
South Korea's startup ministry seeks to allow crypto firms to register as 'venture companies,' which would grant them government benefits.
Hong Kong's stablecoin licensing regime is set to take effect on Aug. 1, with several TradFi players expressing interest in applying.