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Singapore's central bank proposed a dedicated stablecoin issuer licence that would ban paying interest on reserves, the latest in a string of Asian regulators tightening the stablecoin perimeter. Southeast Asia crypto funding rebounded to $680M in the latest tally, a level not seen since the early-2024 peak.
South Korea advanced tokenized-stock pilots under a sandbox expansion, letting more brokerages settle fractional equity trades on-chain. Thailand tightened self-custody wallet checks, requiring VASPs to flag unhosted flows above a new threshold. Kyrgyzstan moved forward on a crypto law framework alongside a digital som CBDC pilot.
Across the region, the pattern is the same: tighter issuer and custody rules for centralized venues, more room for tokenized real-world assets, and a quiet infrastructure build for sovereign digital money.
Frequently asked questions
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What is Singapore proposing for stablecoin issuers?
Singapore's central bank proposed a dedicated stablecoin issuer licence that would explicitly ban paying interest on reserves, tightening the perimeter around Asia's largest regulated stablecoin market.
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How much did Southeast Asia crypto funding rebound to?
Crypto funding across Southeast Asia rebounded to $680M in the latest tally, levels last seen in the early-2024 peak, per regional trackers.
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What is South Korea doing with tokenized stocks?
South Korea expanded its tokenized-stock sandbox, allowing more brokerages to settle fractional equity trades on-chain under closer regulatory oversight.
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What did Thailand change about self-custody wallets?
Thailand tightened self-custody wallet checks, requiring licensed VASPs to flag unhosted wallet flows above a new reporting threshold.
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What is the digital som CBDC in Kyrgyzstan?
Kyrgyzstan is piloting a digital som as its first sovereign digital currency test, alongside a broader crypto law framework moving through parliament.
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