Asia's weekly TOP10 crypto news (July 15 to July 20)

Jul 20, 2025

1. Russia’s Largest State-owned Bank Sberbank Plans to Provide Custody Services for Domestic Crypto Assets link

Sberbank (Sberbank of Russia), Russia’s largest state-owned bank, announced plans to provide custody services for local crypto assets and has submitted relevant regulatory proposals to the central bank. Sberbank stated that this service will ensure the security of users’ tokens and hopes to bring crypto assets into a regulatory system similar to bank accounts. Previously, the Russian central bank has softened its stance on crypto assets, allowing enterprises to use cryptocurrencies in international trade to cope with Western sanctions.

2. China Academy of Industrial Internet Holds Seminar on Stablecoins and Industrial Digital Assets link

The China Academy of Industrial Internet recently held a “Seminar on Stablecoins and Industrial Digital Assets”, which conducted exchanges and discussions around core topics such as stablecoin policy supervision, industrial digital asset transformation, and the integrated development of RWA and industrial internet. Comrades from the Information Technology Development Department of the Ministry of Industry and Information Technology attended the meeting for guidance. Representative experts from financial enterprises such as Guosen Securities Co., Ltd., SoftBank Asia Venture Capital, and Fosun Wealth International Holdings Limited attended the meeting.

3. Pakistan’s Crypto Advisor Meets El Salvador President, Signs Letter of Intent on Bitcoin Strategy link

Pakistan’s crypto advisor Bilal Bin Saqib recently met with El Salvador’s President Nayib Bukele to discuss the national Bitcoin strategy and signed a Letter of Intent for Cooperation. The two parties will cooperate on government adoption of BTC, fair finance and policy formulation. Pakistan is drawing on El Salvador’s experience to strengthen its digital asset strategy. Despite the IMF’s statement opposing Bitcoin mining plans, the country has reserved 2,000 megawatts of surplus electricity for BTC and AI infrastructure.

4. Kazakhstan Considers Investing Part of National Reserves in Crypto Assets link

Timur Suleimenov, Governor of the National Bank of Kazakhstan, stated that Kazakhstan is considering allocating part of the alternative investment portfolios of its foreign exchange reserves and national funds to crypto assets to enhance returns. Meanwhile, the government plans to establish a national crypto asset reserve to store assets confiscated by law enforcement agencies, and explore the participation of state-owned enterprises in mining, with relevant proceeds to be included in this reserve.

5. Japan Blockchain Association Calls for Inclusion of Crypto Asset Trading in 20% Separate Taxation link

The Japan Blockchain Association (JBA) submitted tax reform proposals to the government, requesting that cryptocurrency transactions be subject to a 20.315% declared separate taxation, replacing the current comprehensive taxation of up to 55%. Representative Yuzo Kano pointed out that there are already over 12 million crypto accounts in Japan, and warned of the risks of “110% inheritance tax” and capital outflows, calling for revisions with reference to the stock system. He also expressed concern that if a 20% tax is imposed on Bitcoin spot ETFs, it will exacerbate the loss of liquidity in the spot market.

BitMart has announced the launch of the second phase of its Slippage Protection Program (July 7–31), upgrading from a basic risk compensation model to a more comprehensive user protection framework. The upgrade includes three key improvements: 1) lowering the slippage compensation threshold from 0.05% to 0.02%; 2) expanding compensation coverage to include full-position slippage losses; and 3) introducing a tiered incentive system.

This article is sponsored by Bitmart link

6. Malaysian Government Officially Supports Inaugural Malaysia Blockchain Week (MYBW) link

The Malaysian government officially supports the first Malaysia Blockchain Week (MYBW) event, with several ministers in attendance, including Digital Minister Gobind Singh Deo and Science, Technology and Innovation Minister Chang Lih Kang. The ministers stated that blockchain is a tool for “trust, efficiency and progress”, and the government will promote digital transformation and international cooperation to build a regional digital innovation center. This event includes Hackathon, VC Pitch Day, regulatory roundtables, as well as airdrops and community interaction sessions.

7. Thailand Launches National Crypto Tourism Sandbox Program link

According to the Bangkok Post, the Securities and Exchange Commission (SEC) of Thailand and the Bank of Thailand are jointly promoting the establishment of a “national-level cryptocurrency sandbox” to support foreign tourists in converting digital assets into Thai baht for consumption within Thailand. The plan allows tourists holding cryptocurrencies to exchange their assets into Thai baht through licensed digital asset service providers and use them for nationwide payment and consumption via regulated e-wallet platforms. The sandbox program is only available to foreign tourists who are in Thailand for short-term travel or temporary residence, and participants must comply with applicable licensing requirements.

8. Caixin: Hong Kong Stablecoin Applications Overheat, Central Enterprises Among Participants link

According to Caixin, the Hong Kong Monetary Authority (HKMA), which is responsible for regulating and issuing licenses, will conduct preliminary communications with potential stablecoin license applicants to assess whether they meet the basic application qualifications. Only those who receive basic recognition in the preliminary communications will be issued application forms by the HKMA. Stablecoin applicants must be able to provide specific and practical application scenarios. At present, there are about 50 to 60 companies intending to apply for Hong Kong stablecoin licenses, including central enterprises, financial institutions and Internet giants from the Chinese mainland. The overheated applications for stablecoin licenses in Hong Kong may be the reason for adopting the invitation-based application system this time.

9. Shanghai Discloses Cross-border Illegal Currency Exchange Case via Stablecoins, Involving 6.5 Billion Yuan link

The Pudong Court in Shanghai disclosed a case of illegal virtual currency foreign exchange trading, involving an amount as high as 6.5 billion yuan. Yang, Xu and others manipulated the accounts of 17 shell companies, transferred funds overseas using Tether (USDT) as a medium, and provided illegal foreign exchange services. The gang had a clear division of labor, with a daily capital flow exceeding 10 million yuan. The case showed that at the end of 2023, a citizen, in order to remit money to his daughter to bypass the foreign exchange quota, used their channel to complete the foreign exchange transaction, and the criminal gang made profits by charging handling fees.

10. Metaplanet CEO: Charles Schwab Becomes Second Largest Shareholder of Metaplanet link

Simon Gerovich, CEO of Japanese listed company Metaplanet, announced in a post on X that Charles Schwab has now become the second largest shareholder of Metaplanet, holding 61.2 million shares, accounting for 8.99%. Charles Schwab is a U.S. financial services company listed on the New York Stock Exchange and one of the largest online brokers in the United States.

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