Asia's weekly TOP10 crypto news: Japan Recognizes Crypto as Financial Products, South Korea Plans Tokenized Treasury Pilots, Russia Opens USDT and USDC Trading to Qualified Investors, Coinbase Opens Registration for Chinese Users, and Bybit Launches in Indonesia.

What happened

Japan officially classified cryptocurrencies as financial products, South Korea announced plans to test tokenized government bonds, Russia allowed qualified investors to trade USDT and USDC, Coinbase began registering Chinese users, and Bybit launched its platform in Indonesia.

Confirmed

Global impact / market context

These regulatory moves show Asian authorities increasingly accepting digital assets, which could broaden market participation, encourage new crypto services, and boost trading volumes across the region.

Analyst inference

The announcements arrive as global crypto markets seek clearer rules; expanding access in Japan, South Korea, Russia, China, and Indonesia may attract more users and capital, influencing price dynamics for major stablecoins and exchanges.

Analyst inference

What to watch

1. How Japan’s new classification of crypto as financial products changes licensing requirements—meaning firms must obtain a formal permission—to operate, and whether this will attract more domestic investors. Proposed
2. The results of South Korea’s tokenized treasury pilots—government bonds issued on a blockchain—will show if investors prefer digital securities, potentially increasing demand for blockchain‑based debt instruments. Proposed
3. Whether Russia’s limited USDT and USDC trading for qualified investors expands market access, which could improve liquidity—ease of buying and selling—of these stablecoins in the region. Proposed

Affected assets

• USDT — Tether
• USDC — USD Coin

Evidence

• x.com