Asia's weekly TOP10 crypto news (July 7 to July 14)

Jul 14, 2025

1. Shanghai SASAC Holds Study Session to Discuss Crypto, Stablecoin Development and Blockchain Applications link

The Party — committee of the Shanghai SASAC held a central — group study meeting on July 10th, focusing on the development trends and response strategies of cryptocurrency and stablecoins. It was required to maintain a keen perception of emerging technologies and strengthen the research and exploration of digital currencies. It is necessary to adhere to the integration of industry and digital technology, and explore the application of blockchain technology in cross — border trade, supply — chain finance, asset digitization and other fields.

2. Dubai Approves First Tokenized Money Market Fund link

The Dubai Financial Services Authority (DFSA) has approved the QCD Money Market Fund (QCDT) supported by Qatar National Bank (QNB) and DMZ Finance, making it the first tokenized money market fund to be issued in the Dubai International Financial Centre (DIFC). The investment strategy and asset origination of the fund are led by Qatar National Bank, while DMZ Finance provides the technology to support its digital architecture. The fund aims to tokenize traditional assets such as U.S. Treasuries to serve a wide range of institutional applications, including bank-eligible collateral, stablecoin backing, exchange reserves, and Web3 payment infrastructure.

3. South Korea Plans to Lift “Venture Enterprise” Restriction on Virtual Asset Industry, Launches Legislative Revision Public Notice link

The Ministry of SMEs and Start — ups of South Korea has announced a legislative notice on partial amendments to the Enforcement Decree of the Special Act for the Cultivation of Venture Enterprises, planning to remove the “virtual — asset — related industries” from the list of restricted industries. After the amendment, virtual — asset enterprises will be able to apply for or maintain the qualification of “venture enterprises”. The amendment states that with the implementation of the Virtual Asset User Protection Act and the improvement of the policy environment, it is no longer appropriate to continue to restrict this industry.

4. Russia’s Energy Ministry, Federal Tax Service and Digital Development Ministry Establish National Crypto Mining Equipment Registration System link

Russia’s state news agency reported that the country’s Ministry of Energy, together with the Federal Tax Service and the Ministry of Digital Development, has established a national registration system for cryptocurrency mining equipment and distributed it to regions with active miners. Petr Konyushenko, Deputy Minister of Energy, stated that this system can accurately identify users of electricity for mining, facilitating the implementation of special supervision and tax collection. According to previous regulations, legal entities and individual households must register to mine legally, and all miners are required to report their income to the tax authorities.

5. Pakistan Announces Establishment of Virtual Asset Regulatory Authority link

Pakistan has announced the establishment of the Virtual Assets Regulatory Authority (PVARA). PVARA will operate as an independent institution, whose main functions include licensing, regulating and reviewing virtual asset service providers, while ensuring that their operations comply with international standards, including the relevant guidelines of the Financial Action Task Force (FATF).

6. DV8 Announces New Board with Global Crypto Influencers and Thai Local Tycoons link

Thai listed company DV8 announced the restructuring of its board of directors and the introduction of a new board consisting of global crypto opinion leaders and local Thai tycoons, including Chotiphun Tiaviwat, financial policy advisor to the Thai Senate, Chatchaval Jiaravanon, former buyer of Fortune magazine, Vichate Tantiwanich, former chairman of the Thai Alternative Investment Market, and crypto opinion leaders such as John Riggins, CEO of Moon Inc., Samuel Coyn Mateer, managing partner of UTXO, and Jason Fang, founder of Sora Ventures. Both parties have voluntarily signed a 12-month lock-up agreement to support DV8 in building a financial innovation center in Southeast Asia.

7. Survey: Most Yiwu Merchants Unaware of Stablecoins, Only Few Accept Stablecoin Payments link

There is a market rumor that “over 3,000 merchants in Yiwu use stablecoins with a monthly turnover of 1 billion US dollars”. A field survey by 21st Century Business Herald found that currently only a few merchants support stablecoin payments, and most merchants said they do not understand or have doubts about compliance. A local person in Yiwu who has long been concerned about virtual currencies said, “As far as I know, there is no situation where a large number of merchants in Yiwu use stablecoins, and at least no one around me is willing to settle with stablecoins.” A merchant who has long been concerned about virtual currencies said, “Foreign trade enterprises can get export tax rebates according to traditional settlement methods, and there are profits to be made, which will lead to merchants’ unwillingness to use stablecoins.” Huatai Securities previously stated that the on-chain stablecoin flow in Yiwu exceeded 10 billion US dollars in 2023.

8. Vietnam Sees 30,000 Mobile Phones as “Airdrop Farms” for Mass Manipulation of Crypto Airdrop Distribution link

Mirai Labs CEO Corey Wilton recently visited a Vietnamese “airdrop farm” and stated that it has a scale of 30,000 mobile phones, which are specially used for bulk wallet registration and faking on-chain behaviors to obtain airdrops from crypto projects. It is said that the farm provides “mobile phone toolkits” for export, allowing buyers to deploy their own airdrop devices worldwide. Each mobile phone is equipped with an independent SIM card and device fingerprint, and has IP spoofing capabilities, which can bypass most sybil attack detection mechanisms.

9. Metaplanet Announces Additional Purchase of 2,205 Bitcoins for ~$238.7 Million link

Japanese listed company Metaplanet announced the purchase of another 2,205 bitcoins, costing approximately $238.7 million at a unit price of about $108,237. As of July 7, Metaplanet holds a total of 15,555 bitcoins, with a cumulative purchase amount of approximately $1.54 billion and an average cost of $99,307 per coin.

10. Japanese Listed Company Remixpoint Raises ~$215 Million, Plans to Increase Bitcoin Holdings to 3,000 link

Japanese listed company Remixpoint announced that it has raised approximately 31.5 billion yen (about 215 million U.S. dollars) through financing, which will all be used to purchase Bitcoin. Its short-term goal is to hold 3,000 Bitcoins, and the specific quantity will be adjusted according to the price of BTC and the company’s stock price. Earlier, Remixpoint announced that its chief executive officer’s salary will be paid entirely in Bitcoin.

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