This week brought many clear signals from Asia about how crypto is being shaped by rules banks and governments. The tone is cautious but active. Below is a simple human style summary of the key stories.
Russia made its position very clear. Lawmakers said crypto will never be legal money inside the country. Payments must stay in rubles only. Bitcoin and Ethereum are allowed only as investment tools. This rule has been in place for years and leaders see no reason to change it. The central bank fully supports this view and wants tight control over money use.
Japan is moving slowly but steadily on crypto taxes. The government plans a new tax system for crypto profits starting in January Twenty Twenty Eight. Profits will be taxed at a flat rate similar to stocks. This is lower than the current system where gains are mixed with salary income. The delay gives time to protect investors and prepare better rules.
India sent a strong message on stablecoins. The central bank said it will not copy rules from the United States or other major groups. Officials believe stablecoins could weaken the local currency. India already has fast digital payments so they see no need for private stablecoins. The focus remains on the digital rupee controlled by the central bank.
Security risks stayed in focus after a new report showed North Korea stole over two billion dollars in crypto this year. These attacks made up more than half of global crypto theft. Hackers are now doing fewer attacks but targeting much larger sums. This raised new concerns across the region.
Norway news also reached Asia. The national wealth fund supported a company plan to keep Bitcoin as a treasury asset. This shows that even very conservative funds are open to crypto exposure in careful ways.
In India regulators approved a major foreign investment into a local crypto firm. The deal shows that global companies still see long term potential in the Indian market despite strict rules.
Japan also moved forward with plans for a regulated yen stablecoin. Big financial groups are working together under government oversight. The goal is to support global payments and business use. The launch is planned for Twenty Twenty Six.
Back in Russia the largest bank said it is testing DeFi products. The bank sees future links between traditional finance and decentralized tools. Tokenized assets and public blockchains are part of its plans.
Legal drama continued in Asia with the founder of a collapsed crypto project possibly facing another trial in South Korea after serving time in the United States. Local authorities say many victims are still waiting for justice.
Finally voices in China suggested testing a controlled stablecoin system in special trade zones. The idea is to support trade and finance while keeping strong oversight. These pilots could shape future policy.
Overall Asia is not rushing but it is not standing still. Rules are getting clearer. Experiments are careful. The region is building its own path step by step.
