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    Crypto News Asia: India To Launch Rupee-Backed Stablecoin, Japan Rewrites Crypto Tax Rules, South Korea’s Upbit Sold To Naver

    CryptoGateBy No Comments5 Mins Read


    In as we speak’s rendition of our weekly crypto Asia information bulletin, we talk about key developments within the crypto Asian panorama with particular emphasis on developments in India, Japan, and South Korea that would have a serious international influence.

    Listed here are the most important headlines from this week.

    Crypto Information Asia: India To Debut Its Rupee-Backed Stablecoin In Q1 2026

    India is getting ready to launch its very personal Rupee-backed stablecoin someday in Q1 2026. Polygon, an Ethereum infra firm, and Anq, an Indian fintech firm, are growing the token, known as the Asset Reserve Certificates (ARC).

    Issuers will again every ARC token 1:1 with the Indian Rupee, ensuring transparency and safety. Additional, it will work in tandem with the Reserve Financial institution of India’s (RBI) CBDC.

    RBI’s CBDC goals to deal with last settlements with the safety of India’s financial system in thoughts. However, ARC serves as a private-sector layer that helps sensible funds, programmable transactions, and remittances.

    Moreover, ARC will comply with India’s partial foreign money convertibility guidelines. Whereas the Rupee could be freely used for commerce and enterprise, it can’t be used for unrestricted investments overseas.

    Solely Enterprise accounts will mint ARC tokens and must preserve compliance with India’s international trade legal guidelines. To stop misuse, ARC will use Uniswap v4’s tech to verify tokens can solely be swapped by permitted customers.

    The objective of the stablecoin is to maintain cash and innovation inside India’s economic system reasonably than letting it movement into dollar-backed stablecoins.

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    India Uncovers $62M Crypto Laundering Community Throughout 27 Exchanges

    The Indian Ministry of House Affairs (MHA) has uncovered what might be the nation’s largest crypto cash laundering case involving round ₹623 crore (approx. $62 million) throughout 27 crypto exchanges.

    In line with a neighborhood publication, investigators on this case consider Chinese language-controlled entities to be behind this rip-off. They use faux mortgage apps to extort cash from Indian residents after which convert these funds to crypto earlier than shifting them overseas.

    Crypto exchanges akin to Coin DCX, WazirX, Giottus, ZebPay, Mudrex, and CoinSwitch have been flagged by the MHA as channels utilized by cyber criminals to launder cash.

    The rip-off concerned hawala-style transactions, shell firms, and cross-border transfers, which the Enforcement Directorate (ED) and the Delhi Police are investigating for the time being.

    Moreover, authorities discovered that a number of exchanges didn’t correctly conduct KYC (Know Your Buyer) procedures, which allowed suspicious actions to go unchecked.

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    Japan Slashes Crypto Tax To twenty%, Classifies Bitcoin As A Monetary Product 

    Japan’s Monetary Providers Company (FSA) has skilled its eyes on a serious regulatory reimagination. It plans to reclassify 105 cryptocurrencies, together with Bitcoin (BTC) and Ethereum (ETH), as monetary merchandise below the Monetary Devices and Alternate Act (FIEA).

    That means, main exchanges might want to comply with stricter guidelines, much like authorities securities, together with detailed disclosures about every token, reporting necessities, and market surveillance.

    Additionally, for the primary time, insider buying and selling guidelines will apply to cryptocurrency in the identical means they apply to conventional finance, like shares or bonds.

    Along with this reclassification, the nation is pushing to slash its crypto tax from a excessive of 55% to a flat 20%. As of proper now, Japan treats crypto earnings as “miscellaneous earnings,” which may closely burden high-earning merchants.

    The brand new taxation construction will apply to each people and establishments.

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    South Korea’s Largest Alternate Offered To Naver

    South Korean tech large Naver is reportedly buying Dunamu, the father or mother agency of Upbit, by way of a inventory swap deal managed by Naver Monetary. This brings together the nation’s largest tech agency and the most important trade in a bid to alter the monetary panorama within the nation.

    Throughout an upcoming board assembly, each firms will finalize the deal and ensure the transaction. As soon as full, Naver will combine Dunamu’s crypto experience with its personal digital funds, which already processes practically ₩80 trillion (about $58 billion) yearly.

    Wanting past this acquisition, Naver and Dunamu plan to launch a Received-backed stablecoin to place themselves as leaders within the South Korean fintech house.

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    Key Takeaways

    • India plans rupee-backed stablecoin ARC to strengthen home liquidity and innovation
    • Japan cuts crypto tax to twenty% and classifies Bitcoin as a monetary product
    • Naver acquires Upbit, signaling main consolidation in South Korea’s crypto and fintech sector

    The put up Crypto News Asia: India To Launch Rupee-Backed Stablecoin, Japan Rewrites Crypto Tax Rules, South Korea’s Upbit Sold To Naver appeared first on 99Bitcoins.





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