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You can safely assume that everyone has heard about Bitcoin by now. The popular and mostly valuable cryptocurrency is known for having earned some lucky people, a lot of money. It was first introduced to the public more than a decade ago through an anonymous creator. Since then, the value has been highly fluctuant with a volatile trading history. If you bought Bitcoins early and owned some in 2010, you were very lucky.
This year, the value of a single Bitcoin jumped from around $0.0008 to $0.08. The cryptocurrency was created by Satoshi Nakamoto, the creator’s alias, and was meant to be used or daily transactions and as a way to challenge the traditional banking infrastructure after the terrible financial collapse in 2008.
Bitcoin had another large jump during the spring of 2011, when the price jumped from $1 per Bitcoin in April to $32 in June. This answers to a 3200% jump in only three months. However, this was followed by a sharp recession and the price for Bitcoin ended up at a mere $2 in November the same year.
These numbers are from the early days of bitcoin and seems small when comparing it to today’s value. During the pandemic that started in 2020 the price of Bitcoin would decrease due to financial issues. We can still see an increase during the course of this year when the value increased by 224% in the 12 months. This was mostly because of an institutional interest in cryptocurrencies in general. January 2021 was a historical month for Bitcoin when it beat all its previous price records, selling at more than $40.000.
What are cryptocurrencies and where can you buy them
Cryptocurrencies is a payment method and a strictly digital asset that can be purchased, used, held and sold online. It is a currency that is regulated by supply and demand, as many other currencies. However, it is not reregulated by a national bank or financial institute.
Cryptocurrencies are known for having highly fluctuating value which makes them risky to buy and trade. However, many cryptocurrencies’ owners have experienced and extreme increase in value when it comes to currencies such as Bitcoin. Buying cryptocurrencies can be done online by everyone that wishes to be a part of this world and own a coin or two. Some online brokers offer cryptocurrency purchases, other places to buy is at
Following the increasing popularity, more and more places offer cryptocurrencies as a valid payment form. You will meet this at many online stores but also some physical. Some uudet pikakasinot also allow you to finance the games using cryptocurrencies such as Bitcoin. Bitcoin can either be bought online or in Bitcoin ATMs, which you will find in some countries. You can bot buy and sell Bitcoins in the ATMs; however, most people choose to buy and hold cryptocurrencies to be used as a financial investment.
In other words, Bitcoin is not used exactly how Nakamoto visioned it when he created the asset in 2008, but stores and online website are slowly but surely picking it up. In general, cryptocurrencies are becoming a more “everyday phenomenon” and people are more prone to it. While it used to be highly associated with crime and illegal acts, people are starting to realize that the currency itself is not illegal at all. The reason why it has been used for such, is because it is viewed as a more safe and anonymous payment method. This is because It uses blockchain technology.
Bitcoin is famous for using blockchain technology, making it more anonymous and safer. This can be described as a digital accounting book that is both decentralized and distributed, which makes it possible to register, track and make visible all digital transactions. It also stores data in blocks that are linked to each other using cryptography.
Blockchain is especially suitable in situations where there is a lack of trust in those who store and manage data because it is highly difficult to change it. This is because data that has already been stored cannot be changed without changing all the data stored afterwards, which is very difficult to do in practice. Blockchain is therefore resistant to changes in data stored in the ledger.
Bitcoin have had a highly changing value and a history rich in content. Following its ups and downs are interesting and it is difficult to imagine just how important it has become.
Next up: Malta Week
Don’t miss out on amazing networking opportunities and exclusive industry insights at Malta Week. Four leading shows will bring the best of the business back-to-back to a first-class meeting point. Malta Week will consist of events of SiGMA, AIBC, Med-Tech World and AGS, each presenting the top developments of their focal industries.
The cross-collaboration of each brand make Malta Week the number one destination for leading think-tanks of the gaming sector, emerging tech, digital health and digital marketing. The middle of the Mediterranean is the perfect place for multi-faceted business deals and face-to-face conversations with leading affiliates, policy makers and thought leaders.
Vivek Ranadive confirmed on Clubhouse that the Sacramento Kings will become the first major sports franchise that will offer bitcoin as a form of payment to its players and staff. More moves like this may see America take centre stage in the crypto industry.
Coindesk further confirmed these claims via a speaker on the Clubhouse platform, hosted by Tim Draper.
This move further establishes Ranadive’s claims that the Sacramento Kings are the most forward thinking franchises when it comes to cryptocurrencies. The NBA team had accepted bitcoin payments for hot dogs back in 2014 while in the year of 2019, the franchise launched reward tokens for fans.
The NBA is one of the most proactive franchises in the US when it comes to cryptocurrency and blockchain technology. The basketball association is already topping the list in digital collectibles through NBA TopShot.
Furthermore, NBA franchise owners, including Vivek Ranadive, have formed an NBA Blockchain advisory committee. The committee also includes crypto enthusiast and investor Mark Cuban of the Dallas Mavericks, Joe Tsai (Brooklyn Nets), Ted Leonsis (Washington Wizards), Steve Pagliuca (Boston Celtics) and Ryan Smith (Utah Jazz).
The aim of this committee is to advise the NBA on how to incorporate blockchain and crypto solutions for the league such as:
About AIBC Dubai:
AIBC UAE will take place on the 25th to 26th May, 2021, in the emirate of Dubai. The event will bring together key brands and individuals from the converging sectors of AI, blockchain, IoT, Quantum Tech to discuss and shape the future of emerging tech.
It is one of the leading events globally for blockchain, AI, crypto, and other emerging technologies, and gathers together an elite selection of delegates, policymakers and thought leaders from across the globe. Such international recognition has helped propel AIBC Summit become a favourite on the world circuit for emerging tech conferences and expos.
JP Morgan has stated that Bitcoin’s decrease in volatility is making it more attractive to institutional investors.
Bitcoin’s price volatility, which will be discussed in our next AIBC Summit, has decreased in recent weeks and has subsequently become more attractive to investors seeking low-correlation assets to diversify their portfolios. This is encouraging news for Bitcoin enthusiasts and early adopters of the cryptocurrency as Bitcoin’s major barrier to many was the volatility factor.
JP Morgan said that the recent changes may increase bitcoin adoption and the global also evaluated how much Bitcoin must cost to reach the level of gold investments in the private sector:
“The recent change in the correlation structure of bitcoin relative to traditional asset classes. Mechanically, the bitcoin price would have to rise [to] $130,000, to match the total private sector investment in gold.”
JP Morgan also believes that once bitcoin’s volatility is in line with gold’s volatility, then the long-term price goal would be $130k, adding:
“Considering how big the financial investment into gold is, any such crowding out of gold as an ‘alternative’ currency implies big upside for bitcoin over the long term.”
This new estimate is lower than their initial prediction of $146,000 due to the fall in price of gold.
“The decline in the gold price since then has mechanically reduced the estimated upside potential for bitcoin as a digital alternative to traditional gold, assuming an equalization with the portfolio weight of gold.
A convergence in volatilities between bitcoin and gold is unlikely to happen quickly and is likely a multi-year process. This implies that the above $130,000 theoretical bitcoin price target should be considered as a long-term target.”
JP Morgan bitcoin’s price is based on the bank’s expectation that gold and bitcoin’s volatility will become close but there is still a long way to go as Bitcoin’s volatility stands at 86% while gold is at 16%. This is a long term target but one that is looking likely.
News: news.bitcoin
About AIBC Dubai:
AIBC UAE will take place on the 25th to 26th May, 2021, in the emirate of Dubai. The event will bring together key brands and individuals from the converging sectors of AI, blockchain, IoT, Quantum Tech to discuss and shape the future of emerging tech.
It is one of the leading events globally for blockchain, AI, crypto, and other emerging technologies, and gathers together an elite selection of delegates, policymakers and thought leaders from across the globe. Such international recognition has helped propel AIBC Summit become a favourite on the world circuit for emerging tech conferences and expos.
HashKey Holdings Ltd, founded in 2018, set out to integrate digital assets into regulated financial systems. The company positioned itself as a link between traditional finance and the growing digital asset sector in Asia. HashKey provides asset management, brokerage, tokenisation, staking, and over‑the‑counter trading, and operates Hong Kong’s largest licensed cryptocurrency exchange. Its services cater to both institutional and retail investors.
HashKey raised about HK$1.6 billion (approx. $208 million) through its Initial public offering (IPO), pricing shares at HK$6.68 each, near the top of its range. The company became the first cryptocurrency firm to list on the Hong Kong Stock Exchange. The listing highlights that regulated crypto businesses can operate within Hong Kong’s financial framework.
HashKey shares closed at HK$6.67 (approx. $0.87), down 0.15 percent from the offer price. The stock rose as much as 6.6 percent during the session before falling 8.4 percent to its intraday low. The Hang Seng Index rose almost 0.9 percent while HashKey ended flat, highlighting how crypto‑linked stocks are treated differently from ordinary shares. The market’s caution is reflected in the modest performance, which is noteworthy in contrast to the broader decline in cryptocurrency.
🎉 HashKey Holdings Limited is officially listed on the Main Board of HKEX!
As Asia’s first publicly listed digital asset company via an IPO in Hong Kong, this milestone marks the company's entry into a new stage of development and establishes a stronger foundation for its… pic.twitter.com/v22cmEntUX
— HashKey Group (@HashKeyGroup) December 17, 2025
Despite market volatility, the institutional tranche was oversubscribed 5.5 times, showing high participation. Due to strong interest from individual investors, retail demand reached around 394 times oversubscription. The oversubscription during a wider decline indicates that investors are paying attention to more than just short‑term price fluctuations.
Bitcoin fell by as much as 36 percent after reaching record highs above $126,000, reflecting sharp market swings. Other cryptocurrencies also moved lower, creating a challenging environment for crypto‑related listings.
Chairman and CEO Xiao Feng said short‑term volatility does not affect his outlook on digital assets. He noted that clearer rules and compliance frameworks are important for sustainable industry growth. Xiao added that crypto markets move in cycles and the company is focused on long‑term development.
Xiao stated, “My confidence is only growing stronger, and I am more optimistic than 10 years ago because there is more regulation and compliance guidance for us to follow, which will allow the industry to grow further.”
Mainland China banned cryptocurrency trading in 2021, citing risks such as fraud and pyramid schemes. Hong Kong has adopted policies supportive of digital assets to strengthen its role as a financial hub. HashKey operates within this framework, following national rules while using Hong Kong’s regulatory autonomy.
The business is still loss‑making, but it is prioritising cash flow and reinvestment ahead of immediate profits. Like early‑stage digital companies, management is adopting a growth‑first strategy. Instead of focusing on quick profits, the plan aims to establish digital finance infrastructure.
Funds will be directed towards blockchain infrastructure, cybersecurity, and trading platforms. Alliances and regional expansion are also part of the plans. Operations continue to revolve around compliance.
Hong Kong’s Stock Exchange raised over $34 billion this year, its strongest since 2021. Crypto listings such as HashKey’s add diversity to the market. More IPOs are scheduled for December, indicating renewed activity.
Asia’s adoption rate leaves room for expansion. Tokenisation and wealth management could reshape asset ownership. Strong compliance may serve as a competitive strength. Short‑term volatility is expected, but long‑term prospects remain. Investors with patience gain exposure to regulated crypto growth.
Argentina is considering a major policy shift that would allow domestic banks to trade digital assets and offer crypto-related services. The Central Bank of the Argentine Republic (BCRA) is reviewing its current framework, which prohibits banking institutions from participating in digital asset activities, La Nación reported, citing sources familiar with the discussions.
The proposed changes would mark a significant departure from long-standing rules restricting banks from engaging with cryptocurrencies. La Nación’s sources did not disclose specific details or a regulatory timeline, but a senior representative from a major crypto exchange operating in Argentina said that the updated rules could be approved as early as April 2026.
Local exchanges and industry analysts say that opening the door for banks to access cryptocurrencies and offer digital asset products would likely trigger a new era of mainstream adoption in Argentina.
Argentina logged $93.9 billion in cryptocurrency transactions between July 2022 and June 2025, making it the second-largest market in Latin America, only surpassed by Brazil, according to the Block, citing a Chainalysis research from October.
With inflation pressures and a volatile peso continuing to drive demand for digital assets, analysts believe that bank-integrated crypto services could normalise crypto use across savings, payments, and cross-border transactions.
The developments in Argentina come as neighbouring Brazil, the region’s largest crypto market, strengthens its regulatory framework. Brazil fully included the digital asset industry in its financial legislation in 2025, requiring all crypto service providers to seek central bank authorisation in order to conduct business.
As regional governments attempt to strike a balance between innovation and consumer safeguards, analysts speculate that Argentina’s possible action may be an attempt to stay competitive and in line with more general Latin American regulatory tendencies.
Crypto adoption is gaining momentum around the world. In its recently released 2024 Payment and Settlement Report, South Korea’s central bank underlined its commitment to proactively influence regulatory frameworks for the use of cryptocurrency, most specifically stablecoins.
Meanwhile, the United Kingdom recently introduced the Property (Digital Assets etc) Act, which formally classifies cryptocurrencies, stablecoins and tokenised instruments as a new category of personal property. India’s Madras High Court also declared in October that cryptocurrencies are “property” under Indian law, giving their holders the same legal protections as those of owners of material or monetary goods.
In related news, India is moving closer to introducing a central bank-backed digital currency (CBDC), designed to simplify transactions, reduce paper use, and offer faster, traceable payments built on blockchain technology. According to several media reports, Piyush Goyal, the minister of commerce, has announced that India will soon introduce a digital currency that is insured by the Reserve Bank of India (RBI).
India ranked first in cryptocurrency adoption for 2025, according to the sixth Chainalysis Global Crypto Adoption Index. The United States came in second, indicating a rise in activity in both nations. The research showed, market trends are being influenced by institutional investment and grassroots usage. India leads in all measured categories, including retail and institutional flows. The US rise is linked to higher institutional involvement following the approval of spot bitcoin ETFs. Pakistan, Vietnam, and Brazil complete the top five.
India’s cryptocurrency market recorded transactions worth ₹51,000 crore ($6.12 billion) in 2024–25, a 41 percent increase on the previous year. The rise reflects growing use of virtual digital assets amid evolving government policy and institutional activity. India has become one of Asia’s largest crypto markets, driven by younger investors and fintech adoption. Despite high taxation and the absence of formal regulation, digital assets such as Bitcoin, Ethereum and stablecoins are being used as alternative investment options.
As reported by The Hindu, data presented in Parliament reveals the Ministry of Finance collected ₹511.8 crore ($61.42 million) as Tax Deducted at Source (TDS) from cryptocurrency trades. At a 1 percent TDS rate, this equates to ₹51,180 crore ($6.14 billion) in total transactions during FY 2024–25, reflecting higher trading volumes and compliance. India’s 1 percent TDS on crypto transfers, introduced under the Finance Act 2022, was designed to track transactions and ensure proper reporting of gains. Although initially criticised for discouraging activity, the rule has become a key source of data on market size.
India’s cryptocurrency market has recorded steady growth over the past three years, with transactions rising from ₹22,130 crore in 2022–23 to ₹36,270 crore ($4.35 billion) in 2023–24, and further to ₹51,180 crore ($6.14 billion) in 2024–25. This 41 percent year‑on‑year increase means the market has more than doubled in two years, despite ongoing regulatory uncertainty.
The government collected ₹511.8 crore ($61.42 million) in Tax Deducted at Source (TDS) from cryptocurrency transactions in FY 2024–25, the highest amount to date from digital assets. The figure reflects increased reporting of transactions. A 1 percent TDS on Virtual Digital Assets applies to every transaction, regardless of profit or loss. Introduced in 2022 and retained in the 2025 Income Tax Act, the rule ensures oversight of crypto trading. Each sale of crypto in India triggers a 1 percent deduction paid to the government.
The rule initially reduced trading volumes as frequent traders struggled with liquidity. By 2024–25, many had adapted by holding assets longer, using foreign or decentralised exchanges, and structuring transactions to limit taxable events. These adjustments contributed to market recovery and growth.
Income Tax Department surveys on three major crypto exchanges found TDS non‑compliance worth ₹39.8 crore ($4.78 million). The surveys also uncovered undisclosed income of ₹125.79 crore ($15.09 million), pointing to gaps between policy and execution in the crypto sector. Search and seizure operations detected ₹888.82 crore in undisclosed income linked to crypto, highlighting its use in tax evasion and money laundering and prompting closer scrutiny.
The Enforcement Directorate attached or froze crypto assets worth ₹4,189.89 crore ($502.79 million) under the Prevention of Money Laundering Act. It also reported 29 arrests, 22 prosecution complaints and one individual declared a Fugitive Economic Offender, reflecting the scale of financial crime under investigation.
The Central Board of Direct Taxes (CBDT) reported finding nearly ₹889 crore ($106.68 million) in undisclosed income through investigations into virtual digital asset transactions. The figure highlights the challenges of tracking crypto activity and the government’s growing use of data intelligence.
CBDT issued 44,057 notices to taxpayers who did not report crypto holdings or trades in their income tax returns. Authorities are using data‑matching tools to identify unreported investments.
India continues to face hurdles in regulating crypto, including the absence of a clear legal framework, the cross‑border nature of trades and the rapid emergence of new digital assets and decentralised finance models. Analysts expect a more defined framework by 2026, possibly under the Digital India Act, aimed at balancing investor protection with oversight of financial risks.
Opinions on India’s tax policy remain divided. Supporters say TDS enforces accountability, while critics argue it limits innovation and drives activity offshore. All agree that crypto remains a major part of India’s financial landscape.
Binance Holdings Ltd. has received three licences from Abu Dhabi’s Financial Services Regulatory Authority (FSRA). The approvals, announced during Abu Dhabi Finance Week, cover the company’s regulated exchange, clearing infrastructure and broker‑dealer operations. This means Binance is authorised to run a trading platform, manage settlement and custody, and provide off‑exchange services under FSRA oversight.
The Regulated Exchange Licence: This licence permits Binance to operate a trading platform for digital assets in Abu Dhabi. It requires compliance with anti‑money laundering (AML) and know‑your‑customer (KYC) rules.
The Clearing Infrastructure Licence: This licence authorises Binance to manage post‑trade processes, including clearing and settlement. It gives the company responsibility for verifying, recording and storing transactions.
The Broker‑Dealer Licence: This licence allows Binance to act as an intermediary for institutional and retail investors, executing trades and managing portfolios. It provides regulated access to digital assets for financial institutions and individual clients.
Major milestone 🏁#Binance is the first-ever digital assets trading platform to secure a full suite of licenses from FSRA under @ADGlobalMarket.
This marks a breakthrough moment that raises global standards for regulation, security, and trust.
It reflects our commitment to… pic.twitter.com/ItRofJoAOC
— Binance (@binance) December 8, 2025
In March, Binance received a $2 billion investment from MGX, an AI‑focused investment firm chaired by Sheikh Tahnoon bin Zayed Al Nahyan. Sheikh Tahnoon’s involvement reflects Abu Dhabi’s interest in expanding its position in digital assets. The arrangement combines financial backing with technology, linking AI investment and cryptocurrency operations.
The Financial Services Regulatory Authority (FSRA) is the supervisory body of the Abu Dhabi Global Market (ADGM). It sets and enforces regulatory standards for financial institutions operating within its jurisdiction. FSRA places emphasis on investor protection, market integrity and transparency. Its crypto framework requires strict compliance, meaning Binance had to meet specific benchmarks before approval. Approval from FSRA indicates that Binance has met regulatory requirements, strengthening its position within the global market.
After past controversies, Binance has shifted its focus to transparency and regulation, aiming to balance compliance with growth. Co‑CEO Richard Teng, formerly with ADGM, suggested the UAE could become Binance’s global headquarters, reflecting the country’s regulatory stance on digital assets.
Teng commented, “Achieving regulatory status through ADGM’s respected framework reflects our deep commitment to compliance, transparency and user protection. ADGM is one of the most respected financial regulators globally, and holding an FSRA licence under their gold standard framework shows that Binance meets the highest international standards for compliance, governance, risk management and consumer protection.”
Abu Dhabi’s leadership is positioning the UAE as a centre for regulated crypto activity. The UAE’s approach may influence other regulators to adopt similar frameworks, supporting a more consistent global market. Approval from FSRA indicates Binance has met compliance standards. It strengthens institutional confidence and may encourage larger investors to return to the market.
Founder Changpeng Zhao (CZ) stepped down following legal challenges in the U.S., where Binance agreed to pay $4.3 billion to settle investigations. Under Richard Teng, Binance is working to rebuild its image as a compliant and transparent exchange.
The Abu Dhabi Investment Council (ADIC), part of Mubadala Investment Co., has expanded its stake in BlackRock’s iShares Bitcoin Trust ETF to nearly 8 million shares, valued at over $518 million. This reflects a long‑term commitment to digital assets. The new licences are intended to strengthen trust, transparency and regulatory oversight in the sector. They position Binance to operate within a more structured framework after recent regulatory challenges.
The United Kingdom has introduced the Property (Digital Assets etc) Act, which formally classifies cryptocurrencies, stablecoins and tokenised instruments as a new category of personal property.
As reported by media outlets, lawmakers say the reform aims to protect consumers, reduce legal uncertainty, and support the UK’s ambition to become a global hub for digital assets. By placing digital tokens in a clearly defined property class, courts and lawyers no longer need to rely on patchwork case law when handling disputes over wallets, private keys or token transfers.
The statute builds on guidance from the Law Commission of England and Wales, which found that traditional property categories, physical goods or intangible rights, did not adequately capture the nature of digital assets. Now, judges can recognise crypto tokens as distinct property, enabling stronger remedies in cases of hacks, fraud or misappropriation.
The new framework provides stronger legal grounds for proving ownership of cryptocurrencies and tokenised assets, improved pathways for recovering stolen or lost digital tokens through proprietary remedies, simpler contract structures for custody, collateral and tokenised real-world assets, as well as greater legal certainty for banks, asset managers and custodians planning digital asset services.
Courts can now treat wallets and on-chain records as legally recognised property interests, making it easier to include crypto holdings in insolvency processes, estate planning, and commercial disputes.
Regulators also view the Act as part of the UK’s broader digital asset strategy. Ongoing consultations by HM Treasury and the FCA aim to bring crypto markets, stablecoins and related services into the existing financial rulebook, combining innovation with strict oversight.
The new policy coincides with Reform UK securing a record-breaking £9 million donation from cryptocurrency investor and aviation entrepreneur Christopher Harborne, setting a new benchmark for political funding in Britain. As reported by the BBC, Fresh Electoral Commission data confirms it is the largest single donation ever made by a living individual to a UK political party, giving Reform a significant financial edge ahead of local elections in May.
Christopher Harborne, who resides in Thailand despite being a British citizen, has long been a prominent political donor. He previously contributed millions to the Conservative Party under Boris Johnson and to the Brexit Party, Reform UK’s predecessor, during 2019–2020.
His latest donation surpasses the previous record of £8 million, made by supermarket magnate Lord David Sainsbury to the Liberal Democrats in 2019. Another family member, Lord John Sainsbury, posthumously left £10 million to the Conservatives in 2022.
Harborne has extensive interests in private aviation, with companies such as AML Global and Sherriff Group operating in aircraft services and logistics.
Between July and September, Reform UK reported more than £10.2 million in total donations, according to Electoral Commission filings, more than double the Conservative Party’s £4.6 million. Labour followed at £2.1 million, with the Liberal Democrats reporting £1 million.
Combined with its strong polling performance since spring, Reform UK enters 2025 as one of the country’s best-funded political forces, bolstered by both financial momentum and shifting attitudes towards the digital economy, an area closely tied to Harborne’s investment interests.
In May, the UK government unveiled draft legislation aimed at tightening the reins on cryptocurrency operations within its borders. The move signalled the country’s closer cooperation with the United States instead of following the European Union’s approach to digital assets.
UK Finance Minister Rachel Reeves announced legislation that will extend current financial regulations to crypto companies within the country by this year’s end. The proposed rules will bring crypto exchanges, dealers, and agents under the purview of financial regulators.
To put this in context, according to recent government data, 12 percent of British adults now own or have previously owned cryptocurrencies like Bitcoin or Ethereum, triple the figure from 2021.
Japan is reportedly preparing a sweeping overhaul of its cryptocurrency regulatory framework, with the Financial Services Agency (FSA) advancing plans that would require exchanges to hold substantial liability reserves to protect users from hacks, insolvencies, and technical failures. According to Crypto News Australia, the proposed legislation, expected to be submitted to parliament in 2026, would mark one of the most significant regulatory shifts since Japan first introduced its crypto exchange licencing system after the Mt. Gox collapse.
Under current rules, Japanese exchanges can avoid reserve obligations by storing customer funds in offline cold wallets. The FSA now intends to remove this exemption, forcing platforms to maintain financial reserves—mirroring the requirements imposed on traditional securities firms, which must hold between US$12.7 million and US$255 million depending on trading activity.
To ease operational burdens, the framework may allow exchanges to purchase insurance instead of maintaining full cash reserves. The legislation would also establish clear procedures for returning customer assets during insolvency, granting administrators stronger intervention powers.
The change follows a number of widely reported cyberattacks that revealed weaknesses in the industry. North Korean hackers stole 4,502 BTC (about US$305 million) from DMM Bitcoin in 2024. Bybit lost US$1.46 billion in one of the biggest breaches in cryptocurrency history in February 2025. Systemic dangers were also highlighted by smaller occurrences, such as the US$21 million theft from SBI Crypto in 2025.
The FSA says liability reserves are designed to ensure user losses are fully compensated—akin to traditional bank protection models.
The liability reserve proposal is part of a wider regulatory overhaul the FSA is drafting. Last week, the Asahi Shimbun reported that the agency is preparing to classify cryptocurrencies as “financial products” under the Financial Instruments and Exchange Act—a move that would significantly increase compliance obligations for exchanges, institutions, and traders.
If accepted, digital assets would be handled similarly to securities, with more precise regulations governing disclosures, trading behaviour, and investor protection.
The FSA intends to mandate that exchanges release comprehensive information about each of the 105 authorised tokens, such as the blockchain’s technical details, volatility and risk metrics, and whether the token has a known issuer.
The goal is to boost transparency and help traders make informed decisions with standardised information across all listed assets.
The FSA also intends to apply insider trading laws to crypto markets, an unprecedented step in Japan. The rules would prohibit trading based on non-public information such as upcoming token listings or delistings, issuer financial distress, and major network upgrades or vulnerabilities
The aim is to reduce market manipulation and price swings caused by information asymmetry.
Another key proposal that was proposed a few days ago involves changing how crypto profits are taxed. The FSA is exploring a flat 20 percent tax rate, aligning crypto taxation with stocks.
Currently, gains are treated as miscellaneous income, with rates climbing to as high as 55 percent for top earners. The new structure would simplify filings and reduce tax burdens, particularly for active traders.
Japan is also reviewing rules that currently prohibit banks from holding digital assets. If restrictions are lifted, banks could offer:
This would accelerate institutional adoption and expand consumer access.
Major banks, including MUFG, Sumitomo Mitsui, and Mizuho, are already running stablecoin pilots to test operational and legal feasibility.
Meanwhile, the Japan Exchange Group (JPX) is preparing stricter listing rules for companies involved in crypto-related activities. The measures focus on preventing backdoor listings, regulating major corporate transformations tied to crypto and limiting fundraising heavily dependent on digital asset purchases At least three listed companies have paused digital asset acquisition plans following regulator warnings.
Japan’s approach prioritises strengthening oversight of the 105 tokens already approved, rather than expanding into thousands of global alternatives—aiming to create a more reliable and structured market.
Japan remains one of Asia’s most influential regulators in digital asset governance. Following the Mt. Gox collapse in 2014 and Coincheck’s 2018 hack, the country established stringent licensing and custody rules that set regional standards.
Other Asian markets are now tightening their frameworks:
– South Korea implemented the Virtual Asset Users Protection Act.
– Singapore strengthened conduct requirements under amendments to the Payment Services Act.
– Hong Kong introduced a licencing system allowing regulated retail crypto trading.
Swiss crypto-focused AMINA Bank AG has become the first international bank to receive approval from Hong Kong’s Securities and Futures Commission (SFC) to offer institutional crypto trading and custody services, marking a major milestone in the city’s push to attract global digital-asset firms.
The SFC granted AMINA a “Type 1 licence uplift,” enabling its Hong Kong entity to provide trading and custody for 13 cryptocurrencies, including Bitcoin, Ether, USDC, Tether, and leading DeFi tokens. At a time when compliance on-ramps are still scarce due to Hong Kong’s stringent regulatory framework, the permission grants institutions access to bank-grade cryptocurrency infrastructure.
AMINA’s licence arrives during a significant expansion of the region’s crypto market, as reported by Crypto News. The bank reported a 233 percent increase in trading volumes on Hong Kong platforms in the first half of 2025 compared to the previous year, underscoring renewed institutional appetite following the city’s regulatory overhaul.
Michael Benz, AMINA’s Hong Kong head, said the enhanced licence positions the bank to branch out into private funds, structured products, derivatives, and tokenised real-world assets, which he expects to drive the next wave of institutional demand.
The clearance supports Hong Kong’s plan to separate itself apart from uncontrolled markets by creating an institution-friendly, closely monitored digital asset ecosystem. Since 2022, the city has implemented stablecoin regulations, authorised its first Solana ETF before the US, and established an exchange licensing system.
Local players such as HashKey and Tiger Brokers have already obtained approvals, but AMINA is the first foreign bank to secure the uplift needed to serve institutional crypto clients.
Regulators have signaled continued openness to responsible innovation, even while tightening certain self-custody requirements to curb cybersecurity risks.
The approval of AMINA coincides with Hong Kong’s preparations for a significant revision of the regulations governing cryptocurrency trading. By enabling approved exchanges to connect with international order books, the SFC intends to abolish the city’s historically isolated trading paradigm and bring digital asset markets into line with conventional finance.
SFC Chief Executive Julia Leung announced the shift during Hong Kong Fintech Week, framing it as a key step in boosting liquidity and reinforcing the city’s role as a regional crypto hub.
Alongside this change, Hong Kong is finalising licensing frameworks for crypto brokers, custodians, and stablecoin issuers, potentially opening more pathways for global firms such as Binance or Coinbase to enter the market.
Meanwhile, in June, stablecoins gained sudden prominence within China’s financial and technology sectors. Hong Kong’s financial sector is also experiencing a shift as major institutions respond to the city’s new stablecoin framework. Among these, the Hong Kong branch of Standard Chartered has partnered with Web3 company Animoca Brands to develop a stablecoin backed by the Hong Kong dollar. Anchorpoint Financial Limited, a joint venture intended to function within Hong Kong’s changing regulatory environment, was established as a result of this cooperation.
With institutions increasingly seeking compliant digital-asset exposure, AMINA’s arrival offers Hong Kong fresh momentum in its effort to cement itself as a global centre for regulated crypto finance.
Japan’s Financial Services Agency (FSA) is preparing to update its cryptocurrency regulations. The agency is drafting a proposal to classify digital assets as “financial products” under the Financial Instruments and Exchange Act, as reported by the Asahi Shimbun. If implemented, the plan would subject cryptocurrencies to more stringent legal and compliance frameworks, which would affect financial institutions, traders, and exchanges nationwide.
The FSA is proposing to classify cryptocurrencies as financial instruments under the Financial Instruments and Exchange Act. The move would subject digital assets to stricter regulatory oversight and provide clearer rules for institutional and investor participation.
The FSA plans to require crypto exchanges to publish detailed disclosures for all 105 approved tokens. Exchanges would need to provide information on whether a token has an identifiable issuer, technical details of its blockchain, and volatility and risk metrics. The aim is to improve transparency and help traders make informed decisions by ensuring every listed cryptocurrency includes clear, standardised data.
For the first time, the FSA intends to apply insider trading laws to cryptocurrencies. The proposed regulations would forbid trading on the basis of non-public information, such as impending listings or delistings, issuer financial problems, or significant network modifications. In addition to addressing price fluctuations caused by information breaches and asymmetry in the cryptocurrency industry, the policy seeks to reduce market manipulation.
The FSA has proposed changing how crypto gains are taxed by introducing a flat 20 percent rate, similar to stock taxation. Currently, profits are treated as miscellaneous income, with rates reaching up to 55 percent for high earners. The new model aims to simplify taxation and reduce the burden on traders.
Additionally, Japan is considering removing regulations that prohibit banks from storing cryptocurrency. Banks are currently prohibited from holding digital assets because of concerns about risk and volatility. Banks might offer cryptocurrency trading services, custody solutions, and retain Bitcoin and other tokens if the regulations change. Retail clients would have easier access to digital assets as a result.
The Japan Exchange Group (JPX) is planning stricter listing rules for companies involved in crypto-related activities. Proposed measures target backdoor listings and major corporate transformations linked to digital assets. Regulators have also warned firms that fundraising could face limits if it relies heavily on crypto purchases. At least three listed companies have paused plans to acquire digital assets after these concerns.
The overhaul aims to improve transparency through clearer disclosures, insider trading safeguards, and tax clarity. Japan is focusing on stronger oversight of the 105 tokens already listed rather than adding thousands of global alternatives. This approach is intended to create a more structured and reliable market.
Japan is reinforcing its position as a key regulator in Asia’s crypto market. After the Mt. Gox collapse in 2014 and the Coincheck hack in 2018, the country introduced licensing for exchanges and strict custody rules.
Other Asian markets are following suit. The Virtual Asset Users Protection Act was put into place in South Korea to deal with reserve management and insider trading. Singapore is tightening its requirements for company conduct by improving its Payment Services Act. Hong Kong has adopted a different strategy, permitting retail cryptocurrency trading under a licensing system designed to attract international exchanges.
The Madras High Court has declared that cryptocurrencies are “property” under Indian law, giving their holders the same legal protections as those of owners of material or monetary goods.
Local media has reported that the judgment, delivered by Justice N. Anand Venkatesh in Rhutikumari v. Zanmai Labs Pvt. Ltd and Ors., marks the first time an Indian court has extended property rights to crypto assets, offering long-awaited clarity in a country where digital ownership remains largely unregulated.
“There can be no doubt that cryptocurrency is a property,” Justice Venkatesh wrote. “It is not a tangible property, nor is it a currency. However, it is a property capable of being enjoyed and possessed in a beneficial form, and capable of being held in trust.”
The decision is the outcome of a petition submitted by Rhutikumari, a Chennai-based investor who bought 3,532.30 XRP tokens for ₹1.98 lakh ($2,375) in January 2024 through WazirX, the biggest cryptocurrency exchange in India run by Zanmai Labs Pvt. Ltd.
In July 2024, WazirX suffered a $230 million cyberattack, leading the platform to freeze all user withdrawals. The investor sought legal protection to stop WazirX from dispersing her holdings while the company was undergoing restructuring in Singapore, claiming that her XRP currencies were different from the stolen Ethereum-based tokens.
Zanmai Labs and its directors contested her claim, asserting that the Singapore-based parent company Zettai Pte Ltd had jurisdiction and that all users were required to share losses under a Singapore court order.
Justice Venkatesh rejected this argument, ruling that the Madras High Court had jurisdiction since the transactions were made in India through an Indian bank account.
“In the present case, it is the first respondent [Zanmai Labs], which got registered as a reporting entity and is authorised to handle cryptocurrency in India. Neither Zettai nor Binance is registered as a reporting entity in India,” the judgment noted.
The Court determined that cryptocurrencies fit the legal criteria of property since they are recognisable, transportable, and solely controlled by private keys. Justice Venkatesh also referenced Section 2(47A) of the Income Tax Act, 1961, which classifies crypto as a “virtual digital asset” rather than a speculative transaction.
Relying on earlier Supreme Court precedents—including Ahmed G.H. Ariff v. Commissioner of Wealth Tax (1970) and Jilubhai Nanbhai Khachar v. State of Gujarat (1995)—the Court reaffirmed that property encompasses “every possible interest which a person can acquire, hold, and enjoy.”
The verdict is anticipated to have major implications for the country’s digital asset legislation, investor protection, and cryptocurrency sector. The High Court’s recognition of cryptocurrency as property has established a legal basis for investors to pursue compensation in situations involving cross-border restructuring, mismanagement, or hacking. It also strengthens the jurisdictional authority of Indian courts over domestic crypto disputes, even when foreign entities are involved.
Legal experts say the decision brings India in line with global standards where digital assets are treated as property, not speculative instruments. It could also prompt lawmakers and regulators—such as the Reserve Bank of India (RBI) and the Finance Ministry—to fast-track comprehensive crypto legislation.
Justice Venkatesh concluded that Web3 and crypto businesses must adhere to corporate governance norms, including segregated client funds, independent audits, and robust KYC and AML compliance.
“Courts now play a key role in defining rights, responsibilities, and trust in the digital economy,” he stated.
In related news, India is moving closer to introducing a central bank-backed digital currency (CBDC), designed to simplify transactions, reduce paper use, and offer faster, traceable payments built on blockchain technology. According to several media reports, Piyush Goyal, the minister of commerce, has announced that India will soon introduce a digital currency that is insured by the Reserve Bank of India (RBI).
In separate news, according to the sixth Chainalysis Global Crypto Adoption Index, India ranked first in cryptocurrency adoption for 2025. The United States comes in second, indicating a rise in activity in both nations. The research shows, market trends are being influenced by institutional investment and grassroots usage. India leads in all measured categories, including retail and institutional flows. The US rise is linked to higher institutional involvement following the approval of spot bitcoin ETFs. Pakistan, Vietnam, and Brazil complete the top five
