Asia's weekly TOP10 crypto news (Apr 14 to Apr 20)

1. The Russian Ministry of Finance Recommends Developing Its Domestic Stablecoin, and Enterprises Are Experimenting with Crypto Cross-border Payments link

Osman Kabaloev, the deputy head of the Financial Policy Department of the Russian Ministry of Finance, said that after the digital wallets related to Russia were blocked last month, Russia should consider developing its own stablecoin and may peg it to currencies other than the US dollar. Although the Central Bank of Russia opposes the use of cryptocurrency payments domestically, its governor, Elvira Nabiullina, said that Russian companies are actively testing international cryptocurrency payments.

2. South Korea Blocks 14 Cryptocurrency Exchanges on the Apple App Store link

The Financial Services Commission (FSC) of South Korea has announced that the Apple App Store has blocked the apps of 14 unregistered overseas cryptocurrency exchanges, including KuCoin and MEXC, to prevent money — laundering and protect users from damage. Previously, the Google Play Store had blocked 17 similar platforms. The FSC has warned that unregistered operation is a criminal offense, which is punishable by up to 5 years in prison and a fine of 50 million won.

3. The Singaporean Government Announces the Establishment of an Inter-ministerial Task Force for Tariff Response link

The Singaporean government has announced the establishment of an inter — departmental tariff — response working group in response to the 10% tariff imposed by the US on Singaporean goods this month. It has jointly announced a number of mitigation measures with trade unions and employers. Singapore’s Deputy Prime Minister, Gan Kim Yong, said that the economic growth forecast for 2025 has been revised downwards from 1% — 3% to 0% — 2%, and there is a possibility that the Singaporean economy may slip into a recession this year.

4. Heze, Shandong Cracks Down on a Virtual Currency Fraud Case Targeting India, Involving Over 40 Million Yuan link

The People’s Court of Heze Economic Development Zone in Shandong Province recently heard a case of “frauding foreigners” telecommunications fraud involving virtual currencies targeting Indians. The fraud gang used high returns as bait to induce Indian victims to purchase USDT through third-party payment platforms and exchange it into Chinese yuan or US dollars to extract profits. From June 2023 to January 2024, a total of 66,800 Indians were defrauded, and the amount involved in the case reached as high as 517 million Indian rupees (approximately equivalent to 40 million yuan). In the end, the court sentenced 9 fraudsters to fixed-term imprisonments ranging from five years to fourteen years and nine months, and also imposed fines on them.

5. The Abu Dhabi Financial Regulatory Authority Fines Hayvn $12.45 Million link

The Abu Dhabi financial regulator has fined the cryptocurrency company Hayvn Group $12.45 million for lacking adequate anti — money — laundering controls since October 2018. An investigation showed that Hayvn and its former CEO, Christopher Flinos, conducted customer transactions through the unlicensed special — purpose vehicle AC Holding and provided more than 200 forged documents to bank partners. In addition to the fine, the regulator has revoked Hayvn’s operating license and permanently banned Flinos from serving as a director in the Abu Dhabi financial services sector.

6. Japanese Listed Company Metaplanet Announces the Additional Purchase of 319 Bitcoins link

Metaplanet, a publicly — listed Japanese company, has announced the addition of 319 bitcoins to its holdings, with a value of approximately $27 million. At present, the company holds a total of 4,525 bitcoins.

7. Bitdeer Will Focus on Self-mining to Withstand Tariff Turbulence link

Bitdeer plans to take advantage of the 90 — day tariff — suspension period to ship its mining machines from Southeast Asia to the United States and start production in the US in the second half of this year. The company will focus on using its mining machines for its own mining operations instead of selling them to other miners. In addition, the company is expanding its global influence by entering new markets such as Canada and Ethiopia, and at the same time, it is promoting the strategic transformation towards artificial intelligence and high — performance computing.

8. OSL Assists Huaxia Fund in Launching Hong Kong’s First Physical Ethereum Staking ETF link

OSL has announced that it will provide staking and custody services for ChinaAMC (Hong Kong)’s Ethereum ETF (code: 3046.HK, etc.). This product has been approved by the Hong Kong Securities and Futures Commission and will officially launch its staking function on May 15th, becoming the first spot — crypto ETF in Asia to offer staking services in a regulated environment.

9. Hong Kong Asia Holdings Purchases 10 More Bitcoins, Worth Approximately $800,000 link

Hong Kong — listed company Hong Kong Asia Holdings (01723) announced that the company purchased approximately 10 bitcoins in the open market at a total transaction amount of approximately HK$6,267,843 (equivalent to approximately US$806,671). Together with the 18.88 bitcoins purchased in the previous three times, the company’s current total holdings reach 28.88 bitcoins, with a total investment of approximately HK$19,633,479 (equivalent to approximately US$2,526,829). The transaction funds are from the company’s existing cash reserves.

10. One-third of the Rich in South Korea Invest in Virtual Assets, with “Young Rich People” Being Particularly Active link

According to the Chosun Ilbo, the latest “2025 Korea Wealth Report” released by the Hana Bank Financial Research Institute shows that one — third of South Korean rich people with financial assets exceeding 1 billion won are or have invested in virtual assets, with an average investment amount of about 42 million won. The “Young Rich” under 40 years old are more active in virtual assets and overseas stocks, with a virtual asset holding rate of 29%, which is three times that of the older rich.