Asia's weekly TOP10 crypto news (Nov 10 to Nov 16)

1. Investors in Multiple Regions of China Are Required by Tax Authorities to Pay Supplementary Tax on Overseas Investment Income link

As reported by Yicai, investors in multiple regions including Beijing, Shanghai and Hangzhou have recently received notices from Chinese tax authorities, requiring them to pay supplementary taxes on their overseas investment gains. Back in June, Bloomberg reported that China is stepping up scrutiny over the offshore incomes of the middle class, covering investment returns, dividends and employee stock options. The tax rate on such investment gains can be as high as 20%, and tax authorities will pay special attention to citizens investing in the U.S. and Hong Kong stock markets.

2. MAS Plans to Pilot Tokenized Notes and Advance Stablecoin Legislation link

At the Singapore FinTech Festival, Chia Der Jiun, Managing Director of the Monetary Authority of Singapore (MAS), stated that MAS will pilot the issuance of tokenized MAS bills in 2026 and roll out a draft law on stablecoin regulation, with key emphasis on “adequate reserve backing and reliable redemption capability”.

DBS Bank, Oversea-Chinese Banking Corporation (OCBC) and United Overseas Bank (UOB), the three major banks in Singapore, have successfully completed the first real-environment overnight interbank lending pilot using Singapore dollar wholesale Central Bank Digital Currency (CBDC). Subsequently, they will extend CBDC settlement to the tokenized MAS bills.

In addition, MAS is supporting settlement tests using tokenized bank liabilities and regulated stablecoins under the “Blue Initiative”. It will also release regulatory guidelines for tokenized capital market products this week.

3. Taiwan Is Studying to Include Bitcoin in Strategic Reserves link

Taiwan is studying the inclusion of Bitcoin in its strategic reserves, and plans to use seized BTC “to be auctioned” as the source of pilot holdings, while starting to draft a more friendly Bitcoin regulatory framework.

4. Japan Exchange Group Is Exploring Ways to Curb Listed Companies’ Cryptocurrency Hoarding link

Japan Exchange Group (JPX) is considering tightening regulations to restrict the further expansion of “coin-hoarding type” listed companies (DAT), due to the huge losses incurred by retail investors amid the crypto hoarding boom. Sources stated that JPX is evaluating the stricter application of backdoor listing rules, requiring relevant companies to conduct re-audits, and has asked 3 listed companies planning to purchase coins to suspend their plans, warning that if they insist on taking coin purchases as their main business strategy, their financing capacity will be restricted. Japan currently has 14 listed companies that are Bitcoin buyers, the most in Asia, and the stock price of the largest DAT, Metaplanet, has plummeted more than 75…

South Korean Kim Ji-hoon recently donated 30 million won in Bitcoin (BTC) to the Jeju Development Center to support the development of blockchain technology in the region. Kim stated that it will convert the BTC into fiat currency in accordance with government guidelines and incorporate it into the development fund. Kim said Bitcoin is a “new donation tool in line with the trend of the times” and hopes to promote the spread of the digital asset donation culture. It is reported that Kim has donated 1 Bitcoin each to the Korean Red Cross and the Seoul Metropolitan Social Welfare Foundation this year, with cumulative donations exceeding 1 billion won.