Asia’s weekly TOP10 crypto news: SBI Issues JPY Stablecoin, Korean Firm Tests Blockchain Remittance, Stablecoins Aid Philippine Worker Remittances and Top10 News

1. SBI Issues JPY Stablecoin JPYSC Adopting Trust-Based Reserve Structure link According to Nikkei, SBI Group issued the yen-pegged stablecoin JPYSC this week after securing approval from Japan’s Financial Services Agency, marking Japan’s first trust-type yen stablecoin issuance. JPYSC will be issued by SBI Shinsei Trust Bank, with trading and circulation handled by SBI VC Trade. SBI plans to integrate it with the group’s securities, asset management and banking services to boost user convenience. SBI Group announced the official launch and maiden issuance of trust-type yen stablecoin JPYSC in partnership with Startale Group. SBI stated JPYSC is Japan’s first yen stablecoin with reserve assets managed by a trust bank and the first product of its kind classified as an electronic payment instrument under the Payment Services Act. JPYSC is exempt from the JPY 1 million transaction and balance caps and is only available for SBI VC Trade accounts at the current stage. 2. Indonesia Enforces Revised P2SK Law to Tighten Oversight Over Crypto Assets & Financial Industry link Indonesia’s government and House of Representatives (DPR) have reached a formal agreement on amendments to the Financial Sector Development and Strengthening Law (UU P2SK), which officially took effect on June 17, 2026. The revisions aim to expand the mandates and authority of Bank Indonesia (BI), the Financial Services Authority (OJK) and the Indonesia Deposit Insurance Corporation (LPS), alongside legal protections for their staff in discharging duties. OJK is granted new powers to supervise exchanges for mineral and strategic commodities. Additionally, the updated rules place heavy focus on crypto assets, seeking to boost competitiveness and their contribution to the national economy via an enhanced regulatory framework. Citing the OECD Asia Capital Markets Report 2026, Moneycontrol reported that India attracted approximately $340 billion in crypto asset inflows (including stablecoins) between June 2024 and June 2025, equivalent to nearly 9% of the country’s GDP, ranking first among major Asian economies by absolute volume, followed by South Korea, Vietnam and Indonesia. The article also cautions that “inflows” under this metric refer to the total value of cryptocurrencies received by on-chain addresses linked to Indian users, which do not equate to cross-border capital inflows nor prove actual capital movement into or out of India; some volumes may stem from local trades, wallet transfers, payments or DeFi activities. 3. Central Bank of Russia Unveils Stablecoin Regulation Draft, Mandating State-Supervised Trading link In its report Stablecoins: Development Pathways for Russia, the Central Bank of Russia put forward a regulatory framework for stablecoins, proposing to bring stablecoin transactions under state oversight and classify stablecoins as investment instruments or cross-border settlement tools. The framework permits stablecoins pegged to the ruble or foreign currencies, yet issuers of foreign currency stablecoins must convert them into rubles at predetermined exchange rates. The Central Bank of Russia also plans to mandate issuers to support instant redemptions for holders, to be completed within three business days at the latest. Stablecoin issuance by private firms requires overcollateralization with collateral value exceeding the issuance volume by a minimum of 2%, alongside regular disclosures of issuance volume, reserve holdings and capital deployment. 4. Kazakhstan Stock Exchange Lists Volatility Shares Solana ETF link Kazakhstan Stock Exchange (KASE) has listed the Volatility Shares Solana ETF (SOLZ). Earlier this year, KASE launched Kazakhstan’s first licensed digital asset platform built on Solana. 5. SFC Hong Kong: Crypto Spot ETF Market Cap Hits HK$4.3B, Surging 90% link The Securities and Futures Commission (SFC) of Hong Kong released its 2025–26 Annual Report, revealing accelerated growth in tokenized investment products in Hong Kong’s capital market over the past year. As of March, the assets under management (AUM) of 13 SFC-authorised retail tokenized products surged nearly sixfold year-on-year to HK$10.8 billion. Meanwhile, the total market capitalisation of 11 virtual asset spot ETFs hit HK$4.3 billion, representing a steep 90% jump since their launch in 2024. In addition, trading volume across 12 licensed Virtual Asset Trading Platforms (VATPs) rocketed 125% within a single year. The SFC has finalised legislative work for four new regulatory regimes covering virtual asset trading, custody, advisory services and asset management, and issued 47 public warnings targeting virtual asset trading platforms and investment products. Sponsored by FinTax 6. Bank of Thailand to Unveil THB Stablecoin Regulatory Rules Between 2026 and Early 2027 link The Nation reports that the Bank of Thailand (BoT) is drafting regulatory guidelines for Thai baht stablecoins, with formal rules expected to be released within 2026 or early 2027. The framework is primarily designed to boost payment and settlement efficiency rather than serve as speculative digital assets. The BoT is also exploring stablecoin applications in carbon credit markets and green financial products, and plans to gradually allow commercial banks and financial institutions to expand stablecoin and digital asset-related businesses. 7. Seoul Gangnam Police Lose Confiscated BTC Worth 2.2B KRW link 22 bitcoins (currently worth approximately 2.2 billion won) seized and held by the Gangnam Police Station in Seoul during an investigation into a virtual asset financial hacking case have gone missing. Investigations revealed that instead of transferring the bitcoins to police-managed cold wallets, the police kept the original offline cold wallet provided by the suspect, enabling the holder to recover the funds remotely using the seed phrase and steal the assets. Despite the substantial amount involved, the police have not launched any internal audit or disciplinary proceedings against the officials in charge of asset custody. Insiders disclosed that internal discussions had previously recommended transferring seized bitcoins to official police cold wallets with proper sealing, yet the Gangnam Police Station rejected this proposal. The lack of accountability in this incident has sparked public and internal accusations of severe dereliction of duty in seized property management. 8. Toss Bank Partners With Solana Foundation to Test Global Remittances & Verify Stablecoin Cross-Border Payment Use Cases link South Korean internet bank Toss Bank signed a strategic Memorandum of Understanding with the Solana Foundation in Seoul on June 19 to test global remittance and settlement infrastructure built on the Solana network and verify the viability of stablecoins for cross-border transfers. Toss Bank stated this marks the first exclusive strategic cooperation deal between a South Korean internet bank and the Solana Foundation. Starting with overseas remittances, the lender plans to gradually evaluate the applicability of blockchain infrastructure across payments, digital assets and tokenized assets. 9. Supreme People’s Procuratorate: Chongqing Case Involves RMB 48M Virtual Currency Money Laundering link The Supreme People’s Procuratorate held a press conference on June 25. Miao Shengming, Deputy Procurator-General of the Supreme People’s Procuratorate, stated that procuratorial organs are thoroughly investigating self-money laundering and third-party money laundering crimes, and advancing the recovery of drug-related assets to ensure full coverage in investigating and prosecuting drug-linked money laundering offenses. From January 2025 to May 2026, procuratorial organs nationwide prosecuted over 1,200 individuals for drug-related money laundering crimes. Notably, in the major cross-border drug smuggling, trafficking, transportation and money laundering case involving Li Mobo and others supervised by the Supreme People’s Procuratorate and handled by procuratorial authorities in Chongqing, Li Mobo laundered more than 48 million yuan via virtual currencies and was ultimately sentenced to death for multiple crimes combined in accordance with the law. 10. Stablecoins & P2P Platforms Gain Traction for Overseas Filipino Worker Remittances link Stablecoins, peer-to-peer (P2P) platforms and exchange wallets are being adopted in remittance channels for some Filipino overseas workers due to their faster speed and lower fees compared with the traditional banking system. The article notes that the Bangko Sentral ng Pilipinas (BSP) regulates crypto exchanges and wallet providers under its Virtual Asset Service Provider (VASP) framework. Nevertheless, these entities still need to connect with overseas exchanges, banks and payment platforms, so cross-border supervision and compliance rules imposed by foreign financial institutions may disrupt fund access for Filipino users. Follow us Twitter: https://twitter.com/WuBlockchain Telegram: https://t.me/wublockchainenglishRead More