Written by Andrew Fentonstaff editorReviewed by Andrew Fentonstaff editor

Written by Andrew Fentonstaff editor

Reviewed by Andrew Fentonstaff editor

Singapore’s Hyperliquid warning, Indonesia’s FinFluencer licence: Asia Express

FeaturesPublishedJun 30, 2026

Asia’s Crypto Landscape: Regulatory Updates and Partnerships

Hyperliquid added to Singapore’s Investor Alert List

The Monetary Authority of Singapore has added decentralized perpetuals exchange Hyperliquid to its Investor Alert List, a consumer protection measure that identifies entities that may be wrongly perceived as licensed or regulated. This move follows the addition of crypto exchange Bybit to the list earlier this month. Hyperliquid has stated that it has never claimed to be licensed or authorized by the Monetary Authority of Singapore.

In Indonesia, the financial regulator has introduced certification requirements for influencers who recommend crypto and other digital financial assets. This move is part of the country’s efforts to expand oversight of financial promotions on social media. Influencers must obtain competency certifications and may only recommend digital assets listed on authorized exchanges.

Regulatory Updates Across Asia

South Korea’s financial regulator has fined cryptocurrency exchange Bithumb $136,000 for breaching personal information protections rules. The exchange was found to have transferred personal information overseas without the consent of data subjects. Meanwhile, Japan’s SBI Holdings has signed agreements to acquire full control of crypto exchange Bitbank through a $289 million transaction.

In other news, Chainlink has joined a working group with European and South Korean banking organizations to explore the use of stablecoins for foreign exchange settlement. The project, called Project Pangea, aims to bring together financial institutions across Europe and South Korea to evaluate direct, atomic swaps of euro- and South Korean won-denominated stablecoins.

EcoPool and Earning Opportunities

Indonesia sets certification rules for influencers recommending crypto

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Indonesia joins a growing number of jurisdictions tightening oversight of financial influencers, also called finfluencers, with Australia and the United Kingdom introducing broader rules for investment promotions and the Philippines adopting crypto-specific marketing restrictions.

South Korean authorities fine Bithumb $136K over sharing user information overseas

South Korean cryptocurrency exchange Bithumb was order to pay a $136,000 fine after it was found to have breached personal information protections rules when it sent user data overseas.

In a Thursday notice, the country’s Personal Information Protection Commission (PIPC) said that its investigation into Bithumb found that the exchange had “transferred personal information overseas without the separate consent of the data subjects during the process of order book sharing and virtual asset transfer with overseas virtual asset exchanges.”

The incident was connected to Bithumb sharing its Tether (USDT) order books between September and November 2025 with BingX, despite obtaining consent to share the data with Stellar, as well as sharing user information with 13 overseas exchanges.

Source: PIPC

SBI to acquire Bitbank in $289M deal creating Japan’s biggest crypto exchange

Japan’s SBI Holdings has signed agreements to acquire full control of crypto exchange Bitbank through a 46.7 billion Japanese yen ($289 million) transaction, advancing a deal first disclosed in May that would create the country’s biggest crypto exchange.

SBI expects the transaction to close around October, subject to regulatory clearance.

The acquisition would expand SBI’s regulated crypto exchange footprint and customer base, giving it another potential distribution channel for the stablecoins, tokenized assets and onchain financial products.

Bitbank’s daily trading volume has hovered below $50 million for most of the last four months, CoinGecko data showed. Volume is dominated by the BTC/JPY pair (39.5%), followed by XRP/JPY and ETH/JPY (both at 19.7%).

SBI said combining Bitbank with SBI VC Trade would give the group about 1.1 trillion yen in assets under custody and roughly 2.92 million crypto accounts, meaning the combined business would rank first among Japanese crypto exchanges.

Chainlink joins European and Korean bank consortia to develop FX settlement network

Chainlink has joined a working group with European and South Korean banking organizations to explore the use of stablecoins for foreign exchange (FX) settlement.

The protocol has announced Project Pangea alongside South Korean digital asset infrastructure company FairSquareLab, the Unified Korea Alliance (UniKA) — a consortium that includes more than a dozen Korean commercial banks — and Qivalis, a euro stablecoin consortium backed by 37 European banks.

Project Pangea aims to bring together financial institutions across Europe and South Korea to evaluate direct, atomic swaps of euro- and South Korean won-denominated stablecoins using Chainlink’s data infrastructure alongside FairSquareLab’s onchain foreign exchange settlement technology.

The initiative is another example of financial institutions evaluating stablecoins for wholesale financial infrastructure rather than consumer payments. According to the Bank for International Settlements, the global foreign exchange market processes roughly $9.6 trillion in daily trading volume.

South Korea adds token securities to capital market overhaul

South Korea’s financial regulator folded token securities infrastructure into a broader overhaul of the country’s capital markets, alongside plans for faster settlement, longer trading hours and greater use of artificial intelligence.

On Tuesday, the Financial Services Commission (FSC) said it had launched a capital market infrastructure review meeting to coordinate reforms across government agencies and market operators. According to the FSC, plans for token securities will be further discussed separately through a public-private council before being linked to the wider initiative. 

The initiative includes a roadmap for shortening the securities settlement cycle, expected by October, and a Korea Securities Depository (KSD) system for settling over-the-counter trades in unlisted shares and fractional investment products by the end of 2026. 

Circle, Nomura eye Japan corporate FX with stablecoin settlement: Report

Stablecoin issuer Circle and Japan’s largest investment bank Nomura have reportedly partnered to enable instant foreign exchange settlement for Japanese companies as early as 2027.

The service would enable companies to convert yen into dollar-denominated stablecoins for cross-border transactions and instant settlement, reducing delays caused by banking hours and time zone differences, Nikkei reported on Thursday.

The partnership would bring one of the world’s largest dollar stablecoins into Japan’s corporate foreign exchange market, expanding the use of stablecoins for business-to-business cross-border settlement.

Australian regulator extends no-action period for crypto licensing

The Australian Securities and Investments Commission (ASIC) has given digital asset businesses another three months (to September 30) apply for licenses required under its updated regulatory guidance.

The extension applies to businesses seeking an Australian Financial Services (AFS) license, as well as companies that may require market or clearing and settlement authorizations.

The regulator said it has received about 30 license applications since updating its digital asset guidance in October 2025 to clarify that many crypto products are financial products under the law and require an AFSL.

It noted its recent court victory against BlockEarner emphasized that point.

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

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