This Week In Crypto Asia: India’s Youth Drives Crypto Adoption, Philippines Nabs Chinese Crypto Scamsters, China Ramps Up BTC Accumulation

Another week has come and gone, and the emergence of Asia within the larger crypto landscape has been ever-rapid and consistent. Its tech-savvy population, mobile-first economies, and an ever-increasing appetite for financial innovation have fueled crypto’s widespread adoption in Asia.

While there are differences in the regulatory approaches of different countries toward crypto, it cannot be denied that Asia as a whole has come into its own as a crypto powerhouse.

Here are some of the big headliners from this past week.

Binance CEO Richard Teng: India Drives Crypto Growth In Asia

India has become a major player in the global crypto scene. Binance CEO, Richard Teng, believes that India’s tech-savvy youth is a big reason why. In a CNBC interview, Teng called India a very important market and explained that in countries with large, digitally native populations, crypto adoption tends to happen much faster.

Further, he pointed out that India ranks high on Chainalysis’s Global Crypto Adoption Index, all thanks to its demographics and growing interest in digital assets.

BREAKING: Binance CEO Richard Teng says India could be the next crypto superpower, citing its young, tech-savvy population and ongoing talks with regulators. pic.twitter.com/Y44ikFWSQP

— Crypto India (@CryptooIndia) November 3, 2025

While there are many regulatory hurdles to deal with, Teng is optimistic about India, as he thinks that clearer rules from the government will help India strengthen its position in crypto Asia.

Moreover, he emphasized the importance of smart regulation and voiced out Binance’s experience in working across 22 licensed jurisdictions.

“If the regulator can give a lot of clarity and come up with smart regulation to support the likes of stablecoins, utility, crypto trading, crypto asset management, custody, the better it is for the industry and the greater the crypto adoption that we will see,” he said.

Meanwhile, India’s stance on crypto has remained cautious. However, it has made some progress, especially after a recent court ruling that recognized crypto as property, giving it legal standing.

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Trump Says US Must Lead As China Ramps Up BTC Adoption

In a recent interview, US President Donald Trump said that China is getting heavily involved in Bitcoin and crypto, as he voiced his concerns that the US could, in the near future, lose its lead in digital finance.

He told CBS that, “China is getting very big into Bitcoin and crypto right now,” and that falling behind could hurt America’s economy and tech leadership.

Trump doubles down on digital dominance:

“I only care about one thing — will the U.S. be number one in $crypto? China is getting into it very big.” pic.twitter.com/M5cG5KsqYk

— COACHTY (@TheRealTRTalks) November 3, 2025

Trump also defended his decision to pardon Binance Co-Founder Changepeng Zhao (CZ). He called the case a Biden witch hunt and said that CZ is “a highly respected, successful guy” who was treated unfairly.

“I didn’t know him personally,” Trump said, “but I thought he was treated with great unfairness. He was a victim of a vicious group in the Biden administration.”

BREAKING: President Trump speaks about the pardon for CZ.

“They said, what he did is not even a crime, wasn’t a crime… I gave him a pardon at the request of a lot of good people.” pic.twitter.com/abvBTaxkxl

— CoinDesk (@CoinDesk) October 23, 2025

He mentioned that his sons are more involved in crypto than he is, but he sees digital assets as important to the US economy. Trump claimed, “We’re number one in crypto in the whole world because I’m the president.”

China has quietly re-entered the crypto space despite its blanket ban on crypto in its country. Data from Bitbo shows that China holds 194,000 BTC ($20.89 billion), slightly less than the US’s 198,012 BTC (worth $21.32 billion).

(Source: Bitbo)

Trump ended by saying, “We are number one, and that’s the only thing I care about. I don’t want China or anybody else to take it away.”

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Crypto Scam Network Busted: 2 Chinese Natives Held In The Philippines

Meanwhile, in the second operation, the Bureau of Immigration (BI), the National Bureau of Investigation (NBI), and the Department of Information and Communications Technology (DICT) arrested another Chinese national working for the same scam group.

Investigators found software and scripts on their computers that were used to trick victims into investing in fake crypto platforms.

“Scammers pretend to train victims to invest. They show fake profits to make the victims believe they are earning,” said BI-FSU Chief Rendel Sy.

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