US Expands DeepSeek Restrictions, Switzerland and Asia Strengthen Cryptocurrency Partnerships: Asia Express
Federal civilian agencies in the United States prohibited from using DeepSeek amid espionage concerns. Singapore-based company launches Europe's first spot Bitcoin ETF while Switzerland and Vietnam collaborate on cryptocurrency technology initiatives.
CHINA
New Treasury regulations seek to restrict US capital flows into foreign AI and semiconductor ventures
Fresh regulations have been put forward by the US Treasury that would prevent American investment from flowing into artificial intelligence initiatives (or 'Super Intelligence' initiatives, to be precise) as well as specific high-risk semiconductor projects located in certain foreign nations.
While the restrictions primarily target China, the United States' key geopolitical competitor, they will additionally apply to other adversarial nations such as Russia, Iran, North Korea and Cuba. These proposed regulations are designed to put into action the COINS Act passed in December 2025 and broaden the scope of the Outbound Investment Security Program which became operational in January 2025.
These regulations follow earlier limitations on the sale of advanced AI chips to China. The United States is demonstrating its commitment to enforcement as well, having issued its initial $200,000 fine this month against Amidi, LLC. Treasury for not disclosing an investment made by its Chinese subsidiary in the embodied AI and robotics enterprise Shanghai Qiongche Intelligent Technology (also referred to as Noematrix.)
Federal civilian agencies in US prohibited from using DeepSeek technology
The removal of DeepSeek products from information technology systems across federal civilian agencies has been mandated by the US Department of Homeland Security.
The directive, which was issued on Monday, extends to DeepSeek affiliates as well as third-party products and services that were built utilizing DeepSeek implementations, and it stops affected agencies from acquiring any new purchases.
According to DHS, the utilization of DeepSeek by government workers and contractors has the potential to expose confidential information to China, which could result in the disclosure of details regarding US citizens and federal programs.
Shanghai event delay attributed to registration surge, says Solana's Liu
Following pre-registration numbers that surpassed the event capacity established by local authorities, the Solana Accelerate event scheduled for Shanghai was delayed, as confirmed by Lily Liu, president of the Solana Foundation.
Registration numbers for the event increased fourfold overnight after the event received publicity, Liu stated in an X post published on Friday, noting that organizers made the decision to postpone the event in order to "comply with local requirements."
Earlier in the day on Friday, users on X asserted that the event had been "abruptly suspended" due to law enforcement officers being present at the venue.
Changpeng Zhao, founder of Binance, shared that he was impressed the Solana Foundation had received permission to establish a Shanghai office, pointing out that BNB Chain had been unsuccessful in their attempts to do the same.
JAPAN
Yen stablecoin pilot program targets Japan-Korea tourist and business transactions
An agreement has been signed between South Korea's Shinhan Card and Japan's SBI VC Trade along with SBI XDC Network APAC to pilot yen stablecoin payment systems for tourists and cross-border trade settlement purposes.
According to the agreement executed on Tuesday, the participating companies will conduct tests on stablecoin card payment systems, wallet-to-wallet payment mechanisms and cross-border trade settlement processes. Additionally, they will evaluate anti-money-laundering protocols and fraud-detection systems.
Among South Korea's largest credit card providers is Shinhan Card. SBI represents a major Japanese financial conglomerate that operates banks, brokerages, insurance companies and crypto exchanges.
Super League shareholders approve Metaplanet acquisition for 93.7% stake through 2,100 BTC transaction
A deal that would provide Japanese Bitcoin treasury company Metaplanet with a 93.7% ownership position has been approved by shareholders of Super League, a gaming and digital media company listed on Nasdaq, establishing the groundwork for its entry into US capital markets via a publicly traded Bitcoin treasury enterprise.
Additionally, Metaplanet has revealed plans for a repurchase of approximately $160 million worth of its own shares.
KOREA
Crypto exchanges meet with South Korean finance officials as pressure mounts for tax postponement
Major crypto exchanges reportedly held meetings with finance officials during the current week, only days following a lawmaker's introduction of legislation that may postpone the implementation date of a new crypto tax by two years.
The meeting served as a consultation session on cryptocurrency taxation, featuring representatives from Upbit, Bithumb, Coinone, DigitalX and Gopax, in addition to executives from the Digital Asset Exchange Alliance, which goes by the acronym DAXA.
Regulators in South Korea have postponed the implementation of the crypto tax on three separate occasions, with the most recent delay moving the start date to 2027 due to political disagreements and resistance from the industry.
Korean won stablecoin settlement system for tokenized assets planned by Injective and BDACS
A memorandum of understanding has been signed between blockchain network Injective and South Korean digital asset custodian BDACS to introduce a won-backed stablecoin to its tokenized asset markets, which could potentially enable institutions to settle transactions without depending on US dollar stablecoins.
Kakao developing payment ecosystem based on KRW stablecoin
MALAYSIA
Central bank in Malaysia unveils DLT platform for tokenized bond issuance
A distributed ledger-based platform for the issuance and holding of tokenized bonds has been introduced by Malaysia's central bank, establishing connections between digital securities records and a payment system engineered to function continuously.
According to Bank Negara Malaysia (BNM), its next-generation Scripless Securities Depository System (SSDS+) facilitates the issuance, depository functions and safekeeping of tokenized debt securities, which includes Islamic bonds referred to as sukuk.
THAILAND
Thai crypto exchange acquisition pursued by Bitget following $388M hack weeks earlier
Plans to acquire Thailand's GMO-Z.com Cryptonomics have been announced by crypto exchange Bitget, as it pursues expansion of its Southeast Asia presence just weeks following a significant hack that affected its hot and warm wallets.
BTGT Management (Thailand), a company in which Bitget claims to hold an interest, is involved in the proposed transaction, based on an announcement provided to Cointelegraph. Thai users will gain access to Bitget's trading platform as a result of the acquisition.
Bangkok arrest of Chinese suspect linked to $75M international criminal operation
A 37-year-old Chinese man who is wanted by Chinese authorities for his alleged participation in an international crime network and money laundering activities was arrested by Thai police.
The criminal network is said to have processed more than 500 million yuan ($75 million) in transactions, according to Thai media outlet Khaosod English in an X post published on Saturday.
The suspect allegedly participated in cryptocurrency and foreign-currency exchange operations on behalf of criminal organizations across more than 133 accounts, according to police. Authorities stated that he tried to avoid capture by utilizing forged documents to register his residence and modifying vehicle registration plates prior to police locating him in a luxury residence in Bangkok.
VIETNAM
Digital tourism initiatives drive crypto sandbox program in Da Nang
Da Nang, Vietnam's fourth largest city, is utilizing a controlled sandbox environment that permits businesses to implement crypto-related applications within the tourism sector. In the first nine months of 2026, Da Nang attracted 15.9 million visitors.
Crypto Valley collaboration proposed in Vietnam-EFTA trade agreement
A free-trade agreement with the European Free Trade Association countries of Switzerland, Iceland, Norway and Liechtenstein has been signed by Vietnam. After a meeting with the Vietnamese PM, Swiss President Guy Parmelin put forward a proposal to connect Switzerland's Crypto Valley hub with Vietnam's innovation ecosystem for enhanced cooperation in blockchain, AI and quantum technology.
SINGAPORE
Retail USD-stablecoin conversion services introduced by Singapore Gulf Bank
Singapore Gulf Bank (which holds a license from Bahrain) has revealed that retail customers now have the ability to convert between dollars and USDT or USDC through its mobile banking application.
Swiss bitcoin ETF launched by Singapore-backed asset manager
Switzerland's first Bitcoin ETF has been introduced by Singapore-backed BIT Asset Management. Previously operating as Matrixport, its Zurich division has received approval from the Swiss Financial Market Supervisory Authority to introduce the nation's first spot Bitcoin ETF and Europe's only spot Bitcoin ETF.