Top 10 Crypto News in Asia: Malaysia Pilots Stablecoins, Thailand Allows …

Bank Negara Malaysia recently announced the initiation of experimental projects under its Digital Asset Innovation Hub (DAIH) to delve into the research and development of stablecoins and tokenized bank deposits. The primary focus of these pilot programs is to facilitate cross-border settlements using stablecoins tied to the Malaysian national currency, the ringgit, along with the creation of tokenized real-world assets (RWA). Apart from these, the pilot schemes will also evaluate tokenized bank deposits, and any insights gained from the research might lay the groundwork for the future development of wholesale central bank digital currencies (CBDCs). Collaborating with Bank Negara Malaysia on this initiative are reputable partners such as Standard Chartered Bank, CIMB Group, Malayan Banking Berhad, and investment holding company Capital A.

In a significant move, Thailand’s Cabinet has given the green light to amendments to the Derivatives Act that permit digital assets to function as underlying assets for regulated derivatives. Pornanong Budsaratragoon, Secretary-General of the Securities and Exchange Commission (SEC) of Thailand, mentioned that this decision is intended to foster a more inclusive market environment, improve risk management effectiveness, and broaden investment opportunities for a diverse range of investors. The SEC is set to develop follow-up regulations to revise derivatives licenses, enabling digital asset operators to offer cryptocurrency-related contracts while working closely with the Thailand Futures Exchange (TFEX) to define contract specifications.

The Financial Supervisory Service (FSS) in South Korea has unveiled its work plan for 2026, outlining targeted investigations into high-risk areas within the virtual asset market. These investigations will focus on combating various illicit activities such as “whale” manipulation, “fencing” and “horse racing” tactics, API order manipulation, and the dissemination of misleading information through social media platforms. To enhance its capabilities, the FSS plans to develop AI-powered text analysis tools and automatic detection features for assets experiencing abnormal price surges. Additionally, a new preparatory team will be established to assist in the implementation of the Digital Asset Basic Act’s second phase, including the development of an issuance/trading disclosure system, licensing review manuals, and an emphasis on exchange fee management and disclosure.

Russia’s State Duma has recently passed a law in its third reading that officially recognizes cryptocurrencies as property. This legislative development outlines clear rules governing the seizure, attachment, and confiscation of cryptocurrencies in criminal cases while affirming these digital assets’ property status. The legislation mandates the recording of asset types, quantity, and wallet address identifiers during seizures, along with the sealing and custody of relevant equipment, storage media, and wallet access permissions. To facilitate compliance, seized crypto assets may be transferred to a designated state wallet when technically feasible. The law also paves the way for collaboration with foreign cryptocurrency exchanges for the execution of seizure or confiscation, with detailed transfer and custody procedures set to be established by governmental authorities. Pending approval by the Federation Council and the President’s signature, the bill will come into effect ten days after its official publication.

Kyrgyzstan’s cryptocurrency market has emerged as one of the country’s most rapidly growing economic sectors in recent times. Official data indicates that the total crypto transaction volume in Kyrgyzstan surpassed $7.9 billion in the first three quarters of 2025, with the full-year transaction volume crossing $20.5 billion and generating $22.8 million in tax revenue. Surprisingly, this tax revenue figure exceeds the combined tax revenue collected from Dordoi Bazaar, the largest commodity market in the country, and all patent taxes. While Dordoi Bazaar typically garners around $7.9 million in taxes annually, patent taxes amount to $13.6 million.

China’s State Council has put forth a directive advocating for the extensive use of blockchain technology for the full-chain certification of green power production and consumption. The General Office of the State Council released the Implementation Opinions on Improving the National Unified Electricity Market System, emphasizing the urgent need to establish a robust green power consumption certification mechanism. The directive underscores the importance of leveraging blockchain technology to streamline the certification process across various touchpoints, enhancing the traceability of green power consumption while exploring avenues for integrating green certificates into carbon emission accounting methodologies.

Avenir Group, established by Li Lin, has revealed its updated Bitcoin ETF holdings, showcasing a consistent position in BlackRock’s IBIT throughout the fourth quarter of 2025. With 18,287,323 shares of BlackRock IBIT held by Avenir Group by the end of 2025, the slight decrease of approximately -0.053% compared to the previous quarter was primarily due to minor trading frictions. Maintaining its status as the largest institutional holder of Bitcoin ETFs in Asia for seven consecutive quarters since the second quarter of 2024, Avenir Group continues to demonstrate robust and strategic investment practices in the volatile cryptocurrency market.

In a strategic collaboration, Japan’s Nomura Holdings and Daiwa Securities Group have joined forces with the country