Asia’s weekly TOP10 crypto news: Japan Prioritizes Onchain Finance in National Policy, Sberbank Builds Crypto Trading Infrastructure and Top10 News

1. Japan Includes “Advancement of On-Chain Finance” in 2026 Basic Policy on Economic and Fiscal Management link On July 21, the Japanese government approved the Basic Policy on Economic and Fiscal Management and Reform 2026, formally incorporating “advancing on-chain finance” into national economic and fiscal policy documents. It defines the concept as settling funds on blockchains via tokenized deposits, stablecoins and other instruments, integrated programmatically with data management covering trade and logistics. The technology is expected to be applied to scenarios including manufacturing orders, trade documentation and securities settlement. 2. Japan Targets Bitcoin ETF Launch in 2028; Retail Capital Expected to Be Primary Inflow Source link Japan expects to launch Bitcoin ETFs as early as 2028. Following revisions to the Financial Instruments and Exchange Act that bring crypto assets under financial product regulation, the Financial Services Agency of Japan plans to amend rules governing investment trusts to allow funds and ETFs to hold crypto assets as primary investments, with multiple asset managers considering participation. Interest in crypto assets among Japanese institutional investors is rising. A survey by Nomura Holdings and Laser Digital found roughly 79% of institutional investors and family offices plan to allocate capital to crypto assets within the next three years. Unlike US Bitcoin ETFs driven largely by institutional capital, Japan has a smaller institutional investor base, and cash accounts for a substantial share of household financial assets, meaning retail investor funds may serve as the primary capital source. Some analysts project Japan’s Bitcoin ETFs could attract inflows of up to 3 trillion yen by fiscal 2028. 3. Daily Trading Volume on Korea’s Five Major Crypto Exchanges Plunges 89% YoY, While KOSPI Rises 114.44% link Average daily trading volume across South Korea’s five major crypto exchanges, Upbit, Bithumb, Coinone, Korbit and Gopax, has fallen to $305 million from $2.82 billion recorded in the same period of July 2025, representing an approximately 89% year-on-year decline. Over the same timeframe, the Korea Composite Stock Price Index (KOSPI) rose 114.44%. ZDNet Korea reported that Monday’s trading volume on the five exchanges dropped 88% year-on-year. Some platforms have liquidated crypto assets amid falling fee income. Korbit sold 15 BTC and 60 ETH, raising roughly 1.6 billion South Korean won (approximately $1 million). 4. South Korea FSC to Accelerate Stablecoin Legislation and Actively Ease Institutional Access to Crypto Markets link South Korea’s Financial Commission stated it will advance the Digital Assets Basic Act covering stablecoin regulation as soon as possible, aiming to complete legislation within the year, and actively evaluate opening the crypto asset market to corporations and financial institutions. Regulators are also exploring allowing institutions to trade via dedicated brokers and over-the-counter platforms, alongside lowering entry barriers for banks, securities firms and trust companies engaging in custody, intermediary services and security token businesses. If these measures take effect, restrictions imposed since 2017 on financial institutions participating in the crypto market in South Korea are expected to be eased. 5. Sberbank, Russia’s Largest Lender, to Build Crypto Trading Infrastructure for Custody & Settlement link Sberbank, Russia’s largest bank, plans to build cryptocurrency trading infrastructure and launch a digital custody system by December 1 to support regulated crypto asset trading, custody and settlement. The digital custody system will record client ownership of crypto assets and process most off-chain transactions, while Sberbank will manage custodial wallets for client deposits, withdrawals and transfers. The initiative follows Russia’s recently adopted cryptocurrency regulation bill, whose framework takes effect on September 1. The rule mandating trades through licensed intermediaries is expected to be enforced in July 2027. Under regulatory requirements, public trading is limited to crypto assets meeting liquidity criteria set by the Central Bank of Russia. Qualified investors gain access to a broader range of assets, yet cryptocurrency payments for goods and services within Russia remain prohibited. Sponsored by FinTax 6. Pakistan FIA Establishes Dedicated Crypto Unit Focused on Money Laundering & Terror Financing link Pakistan’s Federal Investigation Agency (FIA) has established a cryptocurrency investigation unit within the newly operational National Command and Control Centre (NC3) to probe the potential use of virtual assets in money laundering, terrorist financing and other criminal activities. Muhammad Athar Waheed, head of the FIA Counter-Terrorism Division, stated that the newly formed Pakistan Virtual Assets Regulatory Authority (PVARA) oversees regulation of the digital asset sector, while the new FIA unit focuses on criminal investigations and enforcement. The NC3 also houses a dedicated anti-money laundering (AML) division and integrates functions including cross-agency intelligence coordination, cyber patrols, dark web investigations and Interpol cooperation. 7. Bank of the Philippine Islands to Pilot Stablecoin Cross-Border Settlement link Bank of the Philippine Islands (BPI) has partnered with digital clearinghouse Meridian to pilot a stablecoin-powered cross-border settlement system designed to cut overseas remittance costs and accelerate fund arrival. Stablecoins will act as settlement instruments, after which funds are converted into Philippine pesos and deposited into recipient accounts. The pilot will initially cater to freelancers, virtual assistants, overseas Filipino workers and exporters, with plans to expand coverage to all BPI clients later. BPI stated the project will advance under the existing regulatory framework and maintain coordination with the Bangko Sentral ng Pilipinas. 8. Vietnam Establishes Administrative Penalty Framework for Upcoming Regulated Crypto Market link The Vietnamese government issued Decree №284/2026/NĐ-CP on July 16, establishing an administrative penalty framework for the upcoming regulated crypto market. Under the new rules, investors trading crypto assets via unlicensed platforms face fines of up to 50 million Vietnamese dong (approximately $1,900). Unauthorized issuance of crypto assets and serious violations of anti-money laundering rules carry maximum fines of 200 million Vietnamese dong (roughly $7,700). The decree also empowers regulators to suspend relevant operations, revoke licenses and seize related assets, and will officially take effect on September 1, 2026. Vietnam opened applications for domestic crypto exchange licenses this January. Nguyen Duc Chi, Deputy Minister of Finance, previously stated that the first batch of regulated crypto services is expected to launch in the third quarter. 9. Hunan Man Penalized for Lending Family Payment Accounts to Facilitate USDT Trading link A man from Tongdao County, Hunan, resold virtual currency for profit and lent WeChat payment codes, Alipay accounts and bank cards verified under his relatives’ real names to others for receiving and transferring funds. Police determined his conduct constituted illegal renting and lending of payment accounts and imposed administrative penalties in accordance with the Anti-Telecom and Online Fraud Law. 10. Shenzhen Authorities Shut Down Multiple Self-Media Accounts Promoting Virtual Currency Activities link The Shenzhen Branch of the People’s Bank of China, the Shenzhen Securities Regulatory Bureau, the Municipal Cyberspace Affairs Office and the Municipal Local Financial Administration Bureau have continued to carry out in-depth special rectification and disposed of a number of illegal and irregular self-media accounts in accordance with laws and agreements. Among them, accounts that illegally released information hyping virtual currencies include “USDT Merchant Exchange Group”, “Group Up to Trade Virtual Currency”, “Search Bitcoin”, “Weizhi Quick Exchange”, “Zhonglian Laojiu”, “Yaosui Gehaojiao”, “Little Goldfish 9884”, “User 0767527971” and others. These accounts illegally provided marketing and promotional information related to virtual currency businesses within China, inducing the public to participate in illegal financial activities involving virtual currencies. In accordance with policy provisions including the Circular on Further Preventing and Resolving Risks Related to Virtual Currencies, the above-mentioned accounts have been permanently shut down by platforms in accordance with laws and user agreements. Follow us Twitter: https://twitter.com/WuBlockchain Telegram: https://t.me/wublockchainenglishRead More