Asia's weekly TOP10 crypto news (June 23 to June 29)

Jun 29, 2025

1. Japan’s FSA Plans to Incorporate Crypto — Assets into the Financial Instruments and Exchange Act, Promotes Bitcoin ETF and Separate Taxation System link

On June 24, Japan’s Financial Services Agency (FSA) released a document proposing to incorporate crypto assets into the regulatory framework of the Financial Instruments and Exchange Act, with related issues to be submitted to the Financial System Council for deliberation on the 25th. If the reform proceeds, Bitcoin ETFs will be allowed to launch in Japan, and a separate tax declaration system of approximately 20% will be applied, replacing the current comprehensive tax rate of up to 55%.

2. South Korean Stock Market Surges due to KRW Stablecoin Policy, Becomes the Strongest Market in Asia in the First Half of 2025 link

South Korean President Lee Jae-myung’s support for the Korean won stablecoin policy has triggered market frenzy, with stocks related to Korean won stablecoins gaining great popularity. The share price of Kakao Pay has doubled, LG CNS has risen nearly 70%, Aton on Kosdaq has risen 80%, and the share price of ME2ON has tripled. The Kospi index has risen nearly 30% this year, approaching a four-year high, making South Korea the strongest performing market in Asia in the first half of 2025. The high market sentiment stems from the government’s plan to allow enterprises with a capital of only 50 billion won to issue Korean won stablecoins, and the nomination of crypto-friendly Kim Yong-beom as the chief policy advisor.

3. Hong Kong Government Releases “Digital Asset Development Policy Declaration 2.0” link

The Hong Kong government has released the Hong Kong Digital Assets Development Policy Declaration 2.0, reaffirming its commitment to building Hong Kong into a global innovation hub in the field of digital assets. The policy declaration proposes the LEAP framework, which includes four key priorities: optimizing laws and regulations, expanding the variety of tokenized products, promoting application scenarios and cross-sectoral cooperation, and developing talent and partnerships.

Chen Maobo, the Financial Secretary, stated that by combining prudent regulation with the encouragement of market innovation, a more vibrant digital asset ecosystem integrated with the real economy and social life will be constructed to bring benefits to the economy and society, while consolidating Hong Kong’s leading position as an international financial center.

4. National Spokesperson of India’s Ruling Party Calls for Launching Bitcoin Reserve Pilot link

Indian ruling party national spokesperson Pradeep Bhandari wrote in India Today calling for the launch of a Bitcoin reserve pilot. He argued that with the U.S. establishing strategic Bitcoin reserves and Bhutan advancing national-level mining, India should seize the opportunity to formulate a sovereign BTC strategy. He pointed out that India’s current crypto policy of “taxing without regulating” urgently needs clarification, emphasizing that clear regulations will help promote innovation, enhance transparency, and protect investors.

5. Kazakhstan Signs MoU with Solana Foundation link

The Ministry of Digital Development, Innovation and Aerospace Industry of Kazakhstan announced on its official website that it has signed a Memorandum of Understanding (MoU) with the Solana Foundation to promote the development of blockchain technology in the country. The two sides will cooperate to establish the Solana Special Economic Zone (SEZ KZ) within the Astana International Financial Center (AIFC), covering directions such as Web3 education, digital asset tokenization, and promoting the settlement of blockchain start-ups.

6. Russian Domestic Investors’ Crypto — Currency Holdings Exceed $25.4 Billion link

Vasily Girya, CEO of GIS Mining, a Russian mining data center operator, said in an interview with TASS at the St. Petersburg International Economic Forum (SPIEF-2025) that the total value of crypto assets held by Russians had exceeded 2 trillion rubles (about $25.4 billion) by the end of the first half of 2025. He added that investment interest in Bitcoin mining from investment firms, asset management institutions, and institutional clients is significantly increasing.

7. UAE Web3 Investment Fund Invests $100 Million to Subscribe for WLFI Tokens link

The institution that spent $80 million to subscribe for WLFI tokens is Aqua1 Fund, a Web3 investment fund registered in the United Arab Emirates. Its subscription address on Etherscan has an ENS domain name of aqua1.eth, and its official Twitter account announced the subscription news at 8 pm tonight. The official statement said that it invested $100 million in the subscription, but the subscription address for the additional $20 million has not been found yet, so the specific cost is still unclear.

8. Metaplanet Increases Its Holding of 1,111 BTC, with a Total Holding of 11,111 BTC link

Japanese listed company Metaplanet announced an additional purchase of 1,111 bitcoins, increasing its total holdings to 11,111 BTC. The amount of this additional purchase is approximately 17.26 billion yen (about 118 million US dollars), and the average purchase price is 15,535,502 yen (about 105,946 US dollars) per bitcoin.

9. Guotai Junan International Obtains Hong Kong Virtual Asset Trading License link

Guotai Junan International (1788.HK) announced that it has obtained approval from the Hong Kong Securities and Futures Commission (SFC) to upgrade its securities trading license to provide virtual asset trading services such as cryptocurrencies, and to offer investment advice on related services. Clients can now directly trade virtual assets including Bitcoin, Ethereum, and Tether on its platform. Previously, Guotai Junan International had already engaged in businesses such as virtual asset ETF products, platform introduction agency, tokenized securities, and digital bonds.

10. Moody’s: Stablecoin Market Boom Is “Over — Estimated” link

Moody’s senior analyst Cristiano Ventricelli stated that although the U.S. Senate has passed a stablecoin legislative draft, the media’s claim that “thousands of stablecoins are about to emerge” is not realistic. Ventricelli pointed out that banks and retailers will face multiple obstacles such as high costs, regulatory audits, system compatibility, and liquidity when issuing stablecoins. In contrast, existing tools like tokenized bank deposits may be more feasible, while retailers launching closed-loop tokens are more likely to cause payment fragmentation, which “may not solve real-world problems.”

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