The new regulation is targeting digital asset and payment service providers in both cryptocurrencies and stablecoins; draft legislation is expected by the end of 2025.
Even as the market cap for digital currencies rises, experts say regulators in Asia will prioritise a prudent oversight path rather than follow Washington in lockstep; HK and Singapore's rivalry is set to continue.
High profile setbacks for FTX and Binance are unlikely to stop the potential of tokenisation, stablecoins and digital bonds in the region, but progress will come with greater regulatory scrutiny.
The multi-party computation wallet solutions provider has joined hands with the Israeli blockchain security company to address Web3 security challenges through safer private key management.
The metaverse is challenging user perception of materiality, digitalising elements of the physical realm and unlocking new economic values. Companies and policymakers are each fighting to establish ground rules across it, but so far its exact definition remains obscure.
Bybit co-founder and CEO, Ben Zhou, shares his thoughts with FinanceAsia on the mass adoption of digital assets, crypto’s changing regulatory landscape, and market volatility.