Asia's weekly TOP10 crypto news (Mar 10 to Mar 16)

1. Reuters: Russia Uses Cryptocurrency in Oil Trade with India to Evade Western Sanctions link

Insiders have disclosed that Russia is employing cryptocurrencies in its oil trade with India so as to evade Western sanctions. Some Russian oil companies are making use of cryptocurrencies such as BTC, ETH, and USDT to convert Indian rupees into Russian rubles. According to the insiders, even if the United States lifts the sanctions against Russia in the future and dollar transactions are restored, the Russian oil trade is likely to persist in using cryptocurrencies, for it represents a convenient instrument that contributes to accelerating the transaction process.

2. Singapore Exchange to Launch Bitcoin Perpetual Futures Contracts link

The Singapore Exchange (SGX) plans to introduce Bitcoin perpetual futures contracts in the second half of 2025, further expanding the traditional exchange’s presence in the cryptocurrency derivatives market. A spokesperson for the SGX stated via email that these contracts will be exclusively available to institutional clients and professional investors, and retail clients will be prohibited from trading this product.

3. South Korea Plans to Lift Ban on Institutional Crypto Asset Investments in Q3 link

The Financial Services Commission (FSC) of South Korea stated on the 12th that it plans to issue a comprehensive investment guideline by the third quarter of 2025, which will allow institutional investors to invest in crypto assets. This guideline will regulate the cryptocurrency investments of institutional investors, listed companies, and non-profit organizations, thus promoting market stability. South Korea intends to lift the eight-year-long ban on corporate cryptocurrency transactions. The background for this includes the implementation of the Virtual Asset User Protection Act, which has laid the foundation for user protection, as well as changes in the market environment such as the entry of major overseas enterprises into the market.

4. Thailand SEC Recognizes USDT and USDC as Compliant Cryptocurrencies link

The Securities and Exchange Commission (SEC) of Thailand has officially approved USD₮ as a compliant cryptocurrency, enabling it to be legally traded in the Thai market and potentially used for payments. This regulation will come into effect on March 16th, 2025, aiming to enhance the flexibility of the digital asset industry and drive digital asset innovation in the country. Additionally, the Thai SEC has added USDC to the list of approved cryptocurrencies. Previously, only BTC, ETH, XRP, XLM, and certain tokens used in the Bank of Thailand’s settlement system had received regulatory approval.

5. Pakistan Establishes Cryptocurrency Committee link

The Government of Pakistan has established the Pakistan Cryptocurrency Commission (PCC), which is responsible for overseeing the integration and use of blockchain technology and digital assets in the country’s financial sector. Minister of Finance Muhammad Aurangzeb will serve as the chairperson of the commission. Pakistan is currently one of the countries with the highest cryptocurrency adoption rate, with an estimated 20 million active cryptocurrency users and cryptocurrency transactions exceeding $20 billion.

6. Binance Kazakhstan Introduces New Derivatives, Options, and Futures Copy Trading link

Binance Kazakhstan has announced that it will launch new products at 15:00 on 2025–03–13 (UTC+5), including options, futures copy trading, and derivatives. Eligible users can now use these tools on Binance Kazakhstan. Previously, Binance Kazakhstan had received formal permission from the Astana Financial Services Authority (AFSA).

7. Sony’s Blockchain Division Announces Partnership with Japanese Social Media Giant LINE link

Sony’s blockchain division has announced a partnership with Japanese social media giant LINE. Four mini — apps on the LINE platform, namely Sleepagotchi, Farm Frens, Puffy Match, and Pocket Mob, will be integrated into Sony’s Soneium blockchain network. The goal of this collaboration is to enhance in — game rewards and trading functions. It is reported that the LINE platform currently has approximately 200 million active users. Soneium is a blockchain project jointly developed by Sony and Singapore — based Startale Labs, which was officially launched in January this year.

8. China Banknote Printing and Minting Group: “Never Issued Virtual Currency Through Any Channel, Beware of Scams” link

On March 13th, the China Banknote Printing and Minting Group Co., Ltd. released a statement. Recently, the company has received reports from the public that illegal elements are posing as the company to sell virtual currency on websites and apps. The company hereby solemnly declares that it has never sold virtual currency through any means. The public is advised to be vigilant against being deceived and avoid losses to their economic interests.

9. Japanese Listed Company Metaplanet to Issue 2 Billion Yen in Bonds, Fully Allocated for Bitcoin Purchases link

The board of directors of Metaplanet Inc., a Japanese listed company, has passed a resolution to issue the 8th series of ordinary bonds to EVO FUND, a subsidiary of Japanese EVO Company. The issuance scale is 2 billion yen (about $13 million), and the coupon rate is 0%. All the funds raised from this financing will be used to purchase Bitcoin.

10. Mingcheng Group Announces Wholly-Owned Hong Kong Subsidiary Acquired 333 Bitcoin at an Average Price of $81,555 link

Lead Benefit (HK) Limited, a wholly — owned Hong Kong subsidiary of Mingcheng Group, purchased 333 bitcoins at an average price of $81,555 per bitcoin on February 28, 2025, with a total investment of approximately $27 million. Mingcheng Group plans to use its idle funds to purchase bitcoins as a short — term investment to capture the potential appreciation of bitcoins and increase its assets. Mingcheng Group is a Hong Kong — based company mainly engaged in mud and water engineering. In January, Lead Benefit (HK) Limited purchased 500 bitcoins at a price of $94,375 per bitcoin, with a total investment of approximately $47 million.

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