China Warns Foreign Spies About Crypto While Singapore Leads Asia’s Market

China’s Ministry of State Security has hardened its tone on digital assets, calling them “accomplices” in espionage, money laundering and cyberattacks. It said overseas hostile forces use crypto to disrupt financial order, and that foreign agencies tell recruits virtual currency is hard to trace. The message looked aimed at would-be spies: the blockchain is being watched. That holds for Bitcoin and Ethereum, though Monero and Zcash stay private when used properly. China has banned exchanges since 2017 and mining since 2021.

Singapore Crypto Economy Growth

Cointelegraph reported, Chainalysis reports Singapore’s crypto activity rose 55.4% to $284 billion in the year to June 2026, making it the biggest market in Central and Southeast Asia and Oceania again, even as the wider region shrank 6.8%. Institutional activity jumped 94% to $60 billion, driven by a few market makers, OTC desks and brokerages.

South Korea Crypto Market Maker Rules

South Korea’s Financial Services Commission is weighing a market-making system after JPYC, a yen stablecoin, hit 37.6 won on Upbit against an opening price of 12 won on Sept. 17. Current law offers no market-making exemption. MoonPay has also opened a Korean subsidiary, pending approvals.

Crypto Payments in Japan and Hong Kong

Binance Pay will let overseas visitors spend over 100 cryptocurrencies at PayPay merchants through HIVEX, settled in USDT. In Hong Kong, the SFC and AFRC agreed to coordinate audits and inspections of licensed crypto firms, while HSBC plans a phased RedCoin stablecoin rollout.