Asia Crypto Roundup: India Pushes Bank Restrictions, Taiwan Passes New Law

India’s central bank has reportedly asked lawmakers to keep commercial banks away from crypto and private stablecoins. Officials told a parliamentary panel that banning crypto for payments is still on the table, warning that treating crypto like regular finance could make it look safer than it is. They asked that tokenized bonds and government securities be treated separately from crypto.

Russia Confirms Digital Ruble Timeline

Russia’s central bank chief said the country is ready to launch its digital ruble on September 1, despite earlier EU sanctions targeting the project.

Mining And Enforcement News

Japan’s SBI Crypto is shutting its Bitcoin mining pool, currently the world’s 12th largest, by the end of July. Separately, US authorities sanctioned over 130 crypto wallets tied to ISIS-K, with Tether freezing most of the funds.

Taiwan Passes First Crypto Law

Taiwan’s legislature approved rules requiring licensing for crypto firms and reserve backing for stablecoins, joining Japan, Singapore and Hong Kong in regulating the sector. Meanwhile, Dubai’s crypto regulator hit 50 licensed firms, outpacing both Hong Kong and Singapore.