Asia's weekly TOP10 crypto news (Apr 1 to Apr 6)

Apr 06, 2025

1. South Korea Considers Allowing Foreign Investment to Participate in Crypto Trading, on the Premise That Local Exchanges Have Anti-money Laundering Capabilities link

The Financial Services Commission (FSC) of South Korea has stated that it may allow foreign investors to enter the South Korean cryptocurrency market in the future, provided that local cryptocurrency exchanges have sufficient anti — money laundering (AML) capabilities. Kim Sung — jin, the head of the virtual asset division of the FSC, has said that the regulatory agency supports the direction of allowing foreign investors to enter the South Korean crypto market, on the condition that local exchanges have adequate AML capabilities. Currently, foreign capital is restricted by real — name account and KYC regulations and is unable to trade crypto — assets in South Korea.

2. Japan’s Financial Services Agency Plans to Amend Laws to Regulate Insider Trading of Virtual Currencies link

According to the Nikkei Shimbun, Japan’s Financial Services Agency (FSA) plans to revise the Financial Instruments and Exchange Act. It will officially position crypto assets (virtual currencies) as financial instruments and intends to introduce new “insider trading” regulations to ban the buying and selling of crypto assets based on undisclosed inside information. The bill is expected to be submitted to the National Diet in 2026, aiming to prevent unfair trading and strengthen the regulatory framework for the crypto market.

3. Russia Promotes the Conversion of Seized Bitcoins into State Fiscal Revenue link

The head of the Federal Bailiff Service of the Russian Federation (FSSP) has stated that a new mechanism has been developed, which can convert the Bitcoins seized in criminal cases into national revenue. This action is based on the legal precedent of the bribery case of the former investigative official Marat Tambiev. In this case, approximately 1,032 BTCs were successfully seized and transferred to the Ministry of Finance. It is expected that some of the assets will be sold to fill the national treasury. The FSSP has called on the legislative authorities to clarify the legal status of crypto assets such as Bitcoin as soon as possible to promote a more systematic mechanism for the disposal of crypto assets.

4. Li Chunlin of China’s National Development and Reform Commission: Will Explore the Application of Blockchain Technology to Promote Key Data onto the Blockchain link

Li Chunlin, Deputy Director of the National Development and Reform Commission, stated at the press conference held by the State Council Information Office that in terms of strengthening technical support and guarantee, the National Development and Reform Commission has already applied new technologies such as privacy computing to the sharing and application of credit information, so as to reduce the risk of information leakage. Meanwhile, it will explore the application of blockchain technology to promote the “on-chain” storage of key data, thereby achieving encrypted data processing and malleable processes.

5. The National Investment Agency of Kyrgyzstan Signs a Memorandum of Understanding with CZ link

The president of Kyrgyzstan has stated that the National Investment Agency under his office has signed a memorandum of understanding with Changpeng Zhao (CZ). The two sides will cooperate on the construction of the cryptocurrency and blockchain technology ecosystem, including infrastructure and technical support, professional consulting, and the implementation of educational programs. The agreement aims to promote the country’s technological development and talent cultivation in the fields of blockchain, virtual asset management, and cybersecurity.

6. An Iranian Official Is Suspected of Embezzling Over $21 Million in Crypto Assets During the Investigation of Crypto Exchanges link

Senior investigators from the intelligence and economic crime division of the Islamic Revolutionary Guard Corps (IRGC) of Iran have been accused of embezzling more than $21 million worth of cryptocurrency assets during the investigation of the cryptocurrency exchange Cryptoland. Court documents reveal that two senior officials from the IRGC’s economic intelligence department, Mehdi Hajipour and Mehdi Badi, are the main masterminds behind this scheme. Blockchain evidence indicates that the wallet controlled by Hajipour alone has processed tokens valued at over $21 million.

7. Sony Singapore Announces That Its Online Store Now Supports the Use of USDC for Purchasing Goods link

Sony Singapore has announced that its online store now supports the use of USDC for purchases through the payment service of Crypto.com. This is the first time that Sony has directly accepted cryptocurrency payments locally. Currently, only USDC is supported, and plans are in place to support more cryptocurrencies in the future. Sony has been accelerating its blockchain layout in recent years. The Ethereum L2 network Soneium, developed by its Singapore — based subsidiary, was officially launched in January.

8. The Japanese Listed Company Metaplanet Announces Another Increase of 696 BTC in Its Holdings link

Metaplanet, a publicly listed company in Japan, has announced that it has once again increased its holdings of 696 Bitcoins, with a total amount of approximately 10.152 billion Japanese yen (around US$67.85 million), and the average purchase price is 14,586,230 Japanese yen (about US$97,490) per Bitcoin. As of now, the company’s total Bitcoin holdings have reached 4,046 coins, with a cumulative purchase amount of approximately 52.368 billion Japanese yen (around US$350 million), and the average purchase price is 12,943,181 Japanese yen (about US$86,506) per Bitcoin.

9. Sumitomo Mitsui Banking Corporation of Japan Plans to Cooperate with Ava Labs and Fireblocks to Launch a Stablecoin link

Sumitomo Mitsui Financial Group, which owns Sumitomo Mitsui Banking Corporation, the second-largest bank in Japan, plans to collaborate with Ava Labs and Fireblocks to launch a stablecoin. Ava Labs, the team behind Avalanche, intends to utilize blockchain technology to establish the “foundation” of the stablecoin, while the cryptocurrency security firm Fireblocks will develop a management system for the tokens. The bank plans to cooperate with the local IT company TIS to conduct experiments on the project in the second half of 2025 and may issue the stablecoin next year.

10. Wang Chun of F2Pool Will Embark on a Four-day Space Orbit Flight link

SpaceX planned to launch the Fram2 mission on April 1, 2025. It is the first orbital mission for humans to fly over the Earth’s poles. The mission is sponsored by Chun Wang, a co — founder of Fisco. It is expected to last for four days. During the four — day orbital flight, astronauts plan to conduct 22 experiments covering various fields of health and scientific research. Fram2 will also conduct the first X — ray examination of the human body in space, which will provide valuable data for space medical research. The first stage of the Falcon 9 rocket carrying out the Fram2 mission will be its sixth flight. At present, the cost paid by Chun Wang for this space flight has not been disclosed.

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