Crypto Regulation News

Thailand’s Tourist DigiPay sandbox is now supporting WORPT, allowing international visitors to convert USDT and USDC into Thai baht for payments through Thai QR PromptPay. Waan Exchange received SEC approval to participate, while merchants continue receiving baht rather than crypto directly. Visa prepaid card services are also planned.

South Korea is considering a fourth postponement of its planned 22% tax on cryptocurrency gains, currently scheduled for January 2027. Industry groups and lawmakers argue that gaps in regulation and overseas transaction reporting could create uneven treatment, while the presidential office is reviewing whether implementation should move to 2029.

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Canada’s proposed stablecoin regulations would require issuers to back outstanding tokens with reserve assets equal to or greater than their value at the end of each day. Eligible reserves would be limited to assets such as cash, short-term government debt and qualifying money market funds, while holders would have a right to one-to-one redemption within three business days.

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Raffles Family Office is expanding its digital-asset wealth management strategy as more of Asia’s young wealthy clients hold assets in Bitcoin, Ethereum and stablecoins. Its Revo unit already holds Hong Kong licenses for digital-asset portfolio management, while the firm is also expanding into Rwanda through a new capital-mobilization agreement. Fortune

Ethereum core developers have delayed the planned Glamsterdam activation on Hoodi while they investigate EIP-8037 interactions with existing mainnet smart contracts. The October 26 schedule, including the planned gas-limit increase to 200 million, has been removed. A replacement activation epoch and timestamp will be announced later.

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HSBC has launched RedCoin, its first stablecoin, in Hong Kong. The HKD-denominated token is licensed and regulated by the Hong Kong Monetary Authority and will initially be available through PayMe. More than 3.3 million users will be able to activate stablecoin wallets for peer-to-peer transfers and payments at over 100,000 merchants.

Bybit’s Dubai entity has secured a Virtual Asset Service Provider license from Dubai’s Virtual Assets Regulatory Authority for exchange services. The approval moves Bybit beyond its earlier in-principle status and allows the licensed entity to offer regulated spot crypto trading services in Dubai under VARA’s framework.

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Bank Negara Malaysia has launched SSDS+, a new platform for issuing and safeguarding tokenized bonds and Islamic sukuk. Built using cloud and distributed-ledger technology, the system records ownership and transfers while linking to RENTAS+ for 24/7 payment settlement in central bank money. The platform is designed for wholesale markets but can also support tokenized government and retail bonds.

Ripple has filed comments supporting the SEC’s proposed Regulation Crypto Assets, saying the agency has authority to create clearer rules for digital asset offerings. The company argues that an investment contract is the security, not the token itself, and says regulatory treatment should depend on an issuer’s promises and obligations rather than subjective measures of decentralization.

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Arkansas is asking a federal court to uphold laws limiting crypto mining operations connected to certain foreign owners. The state says the measures target security and ownership risks rather than the mining industry as a whole. Challengers argue the restrictions unlawfully discriminate based on foreign ownership, setting up a broader legal test over state control of crypto infrastructure.