South Korea Moves to Legalize ICOs
A South Korean lawmaker has introduced draft legislation that could bring back initial coin offerings (ICOs) and create a broader regulatory framework for digital assets.
Proposed by Democratic Party lawmaker Lee Kang-il, the bill would replace the 2017 ICO ban with a disclosure-based system. It defines nine categories of digital asset businesses, including trading, custody, payments, and investment management. Stablecoin issuers would face capital requirements, reserve backing, and mandatory audits to ensure accountability. This proposal signals South Korea’s effort to balance investor protection with innovation in the crypto economy.
Hong Kong Shows Skepticism Toward Bitcoin Treasuries
Hong Kong regulators are proving less welcoming to firms using Bitcoin as a treasury reserve compared to their US and Japanese counterparts.
Companies like Boyaa Interactive have become major Bitcoin holders, but others, like Meitu, have already sold off their crypto. Regulators reportedly see many treasury strategies as PR-driven stunts, echoing their earlier warnings about speculative stock surges tied to vague stablecoin announcements. This cautious stance highlights Hong Kong’s focus on financial stability over aggressive crypto adoption.
Read more: Ethereum Bull Alert: Negative Exchange Flux Signals $5K ETH Breakout
China’s State-Owned Firm Deletes Ethereum RWA Posts
Confusion erupted after reports claimed Shenzhen’s Futian Investment Holdings issued $70 million in digital bonds as real-world assets (RWAs) on Ethereum.
Posts appeared briefly on the company’s website and WeChat account but were later deleted without explanation. The sudden removal has raised doubts among China’s online community, leaving questions about whether the issuance ever happened. The lack of clarification underscores Beijing’s ongoing uncertainty about public blockchain projects.
Japan Pushes Crypto Into Securities Law Framework
Japan’s Financial Services Agency (FSA) has proposed bringing cryptocurrencies under the Financial Instruments and Exchange Act (FIEA).
The move would extend securities-style investor protections to crypto, requiring disclosure of governance, risks, and proceeds for fundraising tokens. Exchanges listing Bitcoin, memecoins, or other non-issuer assets would shoulder disclosure obligations and comply with stricter advertising and conduct rules. By aligning crypto with securities law, Japan aims to protect retail investors while legitimizing digital assets.
Asia’s Mixed Crypto Landscape
From South Korea’s embrace of ICOs to Japan’s stricter protections, Asian countries are taking divergent paths in regulating digital assets. Meanwhile, Hong Kong’s caution and China’s deleted RWA posts highlight lingering uncertainties.
The region remains a key battleground for crypto adoption, innovation, and regulation. These contrasting approaches will likely shape Asia’s influence on the global crypto market for years to come.
