Asia’s weekly TOP10 crypto news: Malaysia Pilots Stablecoins, Thailand Allows Digital Assets as…

Asia’s weekly TOP10 crypto news: Malaysia Pilots Stablecoins, Thailand Allows Digital Assets as Collateral, Russia Recognizes Cryptocurrency as Property and Top10 News

1. Bank Negara Malaysia Launches Pilot Projects for Stablecoins and Tokenized Bank Deposits link

Bank Negara Malaysia (BNM) announced on Wednesday the launch of pilot programmes under its Digital Asset Innovation Hub (DAIH) to explore the research and development of stablecoins and tokenised bank deposits. These pilot projects aim to conduct cross-border settlements using stablecoins pegged to the Malaysian national currency, the ringgit, and develop tokenised real-world assets (RWA). In addition, the pilots will also test tokenised bank deposits, and all research findings may provide a basis for the development of wholesale central bank digital currencies (CBDCs). BNM’s partners include Standard Chartered Bank, CIMB Group, Malayan Banking Berhad, and investment holding company Capital A.

2. Thailand Approves Amendments to Derivatives Act Allowing Digital Assets as Collateral link

Thailand’s Cabinet has approved amendments to the Derivatives Act to allow digital assets to serve as underlying instruments for regulated derivatives. Pornanong Budsaratragoon, Secretary-General of the Securities and Exchange Commission (SEC) of Thailand, stated that this move will “promote more inclusive market growth, facilitate diversified and more effective risk management, and expand investment opportunities for a broader range of investors.” The SEC will develop follow-up rules to revise derivatives licenses, enabling digital asset operators to offer crypto-related contracts, and coordinate with the Thailand Futures Exchange (TFEX) to formulate contract specifications.

3. South Korea’s FSC 2026 Plan: Planned Investigations into Virtual Asset Manipulation link

South Korea’s Financial Supervisory Service (FSS) released its 2026 work plan on February 9, planning to conduct targeted investigations into high-risk areas in the virtual asset market, including “whale” manipulation, “fencing” and “horse racing” tactics, API order manipulation, and the spread of false information via social media. It will develop AI text analysis capabilities and an automatic detection function for assets with abnormal sharp price surges. A new preparatory team for the introduction of the Digital Asset Basic Act will be established to support the implementation of the bill’s second phase, develop an issuance/trading disclosure system and licensing review manuals, and promote the differentiated management and detailed disclosure of exchange fees.

4. Russian State Duma Passes Law in Third Reading to Officially Recognize Cryptocurrency as Property link

Russia’s State Duma has passed a law in its third reading that clearly defines the rules for the seizure, attachment, and confiscation of cryptocurrencies in criminal cases, and formally confirms the property status of cryptocurrencies. The law requires that during seizure, the type of assets, quantity, and wallet address identifiers be recorded; relevant equipment, storage media, and wallet access permissions shall be sealed and kept in custody. Where technically feasible, seized crypto assets may be transferred to a dedicated state wallet. The law allows cooperation with foreign cryptocurrency exchanges for the implementation of seizure or confiscation, and specific procedures for transfer and custody shall be separately formulated by government authorities. The bill is subject to approval by the Federation Council and signature by the President, and will take effect 10 days after its official publication.

5. Kyrgyzstan’s Crypto Market Tax Surpasses Largest Bazaar, Becomes Key Economic Growth Driver link

Kyrgyzstan’s crypto market has rapidly become one of the country’s fastest-growing economic sectors. According to official data, the total crypto transaction volume in the country exceeded $7.9 billion in the first three quarters of 2025, and the full-year transaction volume surpassed $20.5 billion, generating $22.8 million in tax revenue — more than the combined tax revenue from Dordoi Bazaar, the country’s largest commodity market, and all patent taxes. Dordoi Bazaar collects approximately $7.9 million in taxes annually, while patent taxes amount to $13.6 million.

6. China’s State Council: Fully Adopt Blockchain for Full-Chain Certification of Green Power Production and Consumption link

The General Office of the State Council recently issued the Implementation Opinions on Improving the National Unified Electricity Market System, which proposes accelerating the establishment of a green power consumption certification mechanism, fully introducing technologies such as blockchain to conduct end-to-end certification of green power production, consumption and other links, continuously strengthening the traceability of green power consumption, and studying feasible paths for integrating green certificates into carbon emission accounting.

7. Avenir Group Founded by Li Lin Discloses Latest Bitcoin ETF Holdings link

Avenir Group, founded by Li Lin, has disclosed its latest Bitcoin ETF holdings. In the fourth quarter of 2025, Avenir Group maintained its position in BlackRock’s IBIT unchanged: as of the end of 2025, it held 18,287,323 shares of BlackRock IBIT, representing only a tiny adjustment of approximately -0.053% compared to the third quarter due to trading frictions. Since the second quarter of 2024, Avenir Group has remained the largest institutional holder of Bitcoin ETFs in Asia for seven consecutive quarters.

8. Japan’s Nomura and Daiwa Securities to Partner with Three Major Banks on Stablecoin-Based Securities Trading link

Japan’s Nomura Holdings and Daiwa Securities Group will jointly promote stablecoin-based securities trading with the country’s three major megabanks: Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group, and Mizuho Financial Group. The goal is to achieve 7×24 real-time settlement of securities on blockchain and advance commercialization in the coming years. Related pilots are set to launch as early as this month after notifying regulators, with more financial institutions expected to join later.

9. Malaysian Police Arrested for Colluding in Robbery of Chinese Tourists and Extorting 200,000 Ringgit in Cryptocurrency link

An armed robbery occurred in Kajang, Selangor. Seven local police officers colluded with five men to break into a residence late at night, intimidating and extorting eight Chinese tourists. The victims were forced to transfer approximately 200,000 Malaysian ringgit (about 352,000 RMB) via cryptocurrency. The police quickly launched an investigation, arrested the involved officers, classified the case as gang armed robbery, and are investigating under Section 395 of the Penal Code. An application for a detention order has been filed to assist with follow-up investigations.

10. Wang Yang, Vice President of HKU: Offshore RMB Stablecoins May Become a Future Option link

Wang Yang, Vice President of the University of Hong Kong, wrote in an article that the digital yuan has been used on a trial basis for settlement in Hong Kong’s digital asset market. For the primary issuance of Hong Kong dollar and RMB-denominated bonds, in addition to traditional settlement methods, there have emerged the world’s first cases of digital bonds that use both the digital yuan and the digital Hong Kong dollar in their settlement processes. He believes Hong Kong will be the optimal market for hosting tokenized real-world assets (RWA) from mainland China. As regulatory frameworks mature and the market develops, a larger scale of RMB-denominated assets is expected to be issued as digital assets in Hong Kong, with the digital yuan naturally becoming the preferred settlement currency.