Thai and Singaporean regulators increase scrutiny on crypto projects and private wealth firms.
The Hong Kong Securities and Futures Commission (SFC) has approved the first Solana (SOL) spot ETF in the region. Issued by ChinaAMC (Hong Kong), the fund will begin trading on the Hong Kong Stock Exchange (HKEX) on October 27 under the ticker 03460, with a 1% management fee.
This is the third crypto spot ETF approved in Hong Kong, following Bitcoin and Ethereum. It is also the first SOL spot ETF in Asia, offering new access to institutional investors tracking Solana’s market performance.
Kyrgyzstan is preparing to issue a national stablecoin on the BNB Chain, according to a post by Binance founder CZ. The project includes plans for a government-linked CBDC, a national crypto reserve that includes BNB, and localized support for Binance’s platform.
In Russia, Finance Minister Anton Siluanov confirmed an agreement with the Central Bank to support crypto use in foreign trade. The Ministry is working on legislative steps to formalize the process. Siluanov said, “Crypto assets play a role in cross-border payments and transfers.”
In Thailand, regulators are investigating World, a digital ID platform formerly known as Worldcoin. Officials from the Securities and Exchange Commission and Cyber Crime Bureau accused the company of operating without a license. World responded by stating, “We only distribute tokens where local laws permit.”
Singapore’s Monetary Authority has launched a review of DW Capital Holdings, a family office linked to Chen Zhi. The office is under scrutiny for activities conducted under the MAS 13X scheme. Assets under management reportedly include wine, yachts, and automotive ventures.
Sanae Takaichi, Japan’s newly elected prime minister, has previously supported the acceptance of cryptocurrency donations. During her time in public office, she said that donations in digital assets were permitted under existing laws.
Standard Chartered Hong Kong is preparing to offer virtual asset ETF trading. The service is scheduled to launch in November. A bank representative noted, “Clients are looking to access digital assets through regulated platforms.”
