Asia’s weekly TOP10 crypto news: Japan Unveils New Security Regulations for Crypto Platforms, Ant Group Acquires Yiu Choi Securities and Top10 News

1. Hong Kong’s First Batch of Stablecoin Issuer Licenses, Expected by End-March, Remain Unannounced as of March 31 link Hong Kong’s first batch of stablecoin issuer licenses, originally expected to be issued by the end of March, remained unreleased as of March 31. In response, a spokesperson for the Hong Kong Monetary Authority stated that it is fully advancing the licensing process and will make an announcement in due course. Earlier, Eddie Yue, Chief Executive of the HKMA, said 36 license applications had been received and that a small number of initial licenses would be issued in March. Market expectations had widely predicted that institutions including HSBC and Standard Chartered would be on the first list. 2. Cambodia Advances Legislation Against Crypto Scams; Masterminds Face Up to Life Imprisonment link Cambodia’s National Assembly has passed its first cybercrime law targeting scam compounds, focusing on cracking down on cross-border fraud and money laundering using crypto assets. The law stipulates that general fraud shall be punishable by 2 to 5 years’ imprisonment and fines, while cases involving gangs or multiple victims may result in up to 10 years’ imprisonment. It also covers money laundering, data collection, and recruitment of fraud operatives. The law is pending signature by the King to take effect. 3. Japan’s FSA Unveils New Cybersecurity Rules for Crypto Platforms link Japan’s Financial Services Agency (FSA) has officially released guidelines for strengthening cybersecurity for crypto asset trading platforms, proposing a three-pillar regulatory framework of “self-help, mutual assistance, and public assistance”. Under the new rules, starting from fiscal year 2026, licensed crypto trading platforms in Japan are required to conduct mandatory cybersecurity self-assessments (CSSA) and raise overall security standards. The FSA also plans to implement threat-led penetration testing (TLPT) on selected major platforms to enhance the industry’s ability to respond to hacker attacks and supply chain risks. 4. Russia Approves Crypto Regulation Bill; Non-Qualified Investors Capped at 300,000 Rubles Per Platform link Russia’s Ministry of Finance has disclosed that the government has approved a package of crypto asset regulatory bills. Under the proposed rules, non-qualified investors will face an annual limit of 300,000 rubles for purchasing crypto assets on a single brokerage platform, may only trade highly liquid digital currencies on the Central Bank of Russia’s list, and must pass a specialized test. Qualified investors also need to take the test but are not subject to the amount restriction. Meanwhile, crypto transactions through unregulated intermediaries will be prohibited. The relevant bills are expected to be submitted to the State Duma for consideration in the coming days. 5. Two Chinese Authorities Launch New Crackdown on Illegal Financial Underground Industries link On March 14, the Economic Crime Investigation Bureau of the Ministry of Public Security and the Inspection Bureau of the State Administration of Financial Regulation held a meeting to jointly launch a six-month crackdown on illegal and criminal “grey and black industries” in the financial sector. The meeting stressed the need to strengthen coordination between criminal law enforcement and financial regulatory administrative law enforcement to strictly investigate prominent illegal crimes in the financial sector. It was required to focus on key targets, including illegal loan intermediaries and malicious debt evasion in the lending sector, unlawful agency for insurance surrender and claims in the insurance sector, and improper anti-collection practices in the credit card sector. Sponsored by FinTax 6. Dubai’s VARA Introduces Crypto Derivatives Regulatory Framework, Allowing Retail Investors Up to 5x Leverage link The Dubai Virtual Assets Regulatory Authority (VARA) has introduced new regulations governing cryptocurrency derivatives. The framework allows retail investors to participate in derivatives trading following rigorous financial and experience assessments, with leverage strictly capped at 5x (minimum 20% initial margin). The new rules aim to establish formal safety guardrails for the high-risk crypto market. In addition, VARA retains broad powers to intervene during periods of extreme market volatility, including suspending products, ordering position liquidations, and raising margin requirements. 7. Li Xiong, Key Figure of Prince Group, Repatriated to China on Charges Including Operating Illegal Casinos link Li Xiong, a core member of the Prince Group, has been repatriated to China on suspicion of multiple crimes including operating a casino, fraud, illegal business operations, and covering up criminal proceeds. Li Xiong formerly served as Chairman of Huiwang Group, a subsidiary of the Prince Group, and founded the payment company Huione Pay PLC in Cambodia in 2018. Blockchain security firm Elliptic stated that crypto wallets used by Huiwang Guarantee and its merchants have received a total of over $24 billion since 2021, and Huiwang Guarantee has been described as one of the largest online illegal markets by operational scale to date. 8. Japan’s Gen Z Most Concerned About Social Media Crypto Scams; YouTube Tops Source for Investment Decisions link According to a survey of 1,486 Japanese respondents conducted by Tokyo-based consulting firm Clabo in February 2026, the main concern of Japanese Generation Z regarding crypto assets is social media scams (such as fake airdrops and promotional inducements), while older groups tend to regard “lack of understanding of crypto mechanisms” as their biggest worry. Overall, 23.3% of respondents said they “do not understand how it works”. The survey shows that 50% of respondents have never invested in crypto assets. In terms of information sources, traditional news websites account for the highest proportion (38.4%) for obtaining crypto information, followed by social media (36.7%) and YouTube (31.6%); however, in the “actual investment decision-making” stage, YouTube ranks first with 27%. 9. Ant Group Completes Acquisition of 50.55% Stake in Yiu Choi Securities for HK$2.814 Billion link Ant Group has completed the acquisition of Hong Kong stablecoin-related stock Sunlight Financial, acquiring a 50.55% stake for HK$2.814 billion. The board of directors of Sunlight Financial has been fully reorganized, with Zheng Yanlan, current head of the overseas business preparation team of Ant Fortune under Ant Group, Huang Hao, current senior vice president of Ant Group, and Liu Zheng, current chief financial officer of Ant Group, appointed as executive directors. 10. Metaplanet Purchases 5,075 BTC for Approximately $405 Million in Q1 2026 link Metaplanet CEO Simon Gerovich stated in a post that Metaplanet purchased 5,075 BTC for approximately $405.48 million in the first quarter of 2026, at an average price of about $79,898. Year-to-date BTC yield in 2026 stands at 2.8%. As of March 31, the company holds a total of 40,177 BTC, with a total cost of around $4.18 billion and an average cost basis of approximately $104,106. Follow us Twitter: https://twitter.com/WuBlockchain Telegram: https://t.me/wublockchainenglishRead More