{"id":59947,"date":"2025-11-23T15:31:36","date_gmt":"2025-11-23T15:31:36","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=59947"},"modified":"2025-11-23T15:31:36","modified_gmt":"2025-11-23T15:31:36","slug":"crypto-news-asia-india-to-launch-rupee-backed-stablecoin-japan-rewrites-crypto-tax-rules-south-koreas-upbit-sold-to-naver","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=59947","title":{"rendered":"Crypto News Asia: India To Launch Rupee-Backed Stablecoin, Japan Rewrites Crypto Tax Rules, South Korea\u2019s Upbit Sold To Naver"},"content":{"rendered":"<div>\n<p>In today\u2019s rendition of our weekly crypto Asia news bulletin, we discuss key developments in the crypto Asian landscape with special emphasis on developments in India, Japan, and South Korea that could have a major global impact.<\/p>\n<p>Here are the biggest headlines from this week.<\/p>\n<h2><strong>Crypto News Asia: <\/strong>India To Debut Its Rupee-Backed Stablecoin In Q1 2026<\/h2>\n<p>India is preparing to launch its very own Rupee-backed stablecoin sometime in Q1 2026. Polygon, an Ethereum infra company, and Anq, an Indian fintech company, are developing the token, called the Asset Reserve Certificate (ARC).<\/p>\n<p>Issuers will back each ARC token 1:1 with the Indian Rupee, <a class=\"general-link\" href=\"https:\/\/www.coindesk.com\/markets\/2025\/11\/20\/india-s-debt-backed-arc-token-eyes-tentative-january-2026-debut-sources-say\" target=\"_blank\" rel=\"noopener nofollow\">ensuring <\/a>transparency and security. Further, it\u00a0will work in tandem with the Reserve Bank of India\u2019s (RBI) CBDC.<\/p>\n<p>RBI\u2019s CBDC aims to handle final settlements with the protection of India\u2019s monetary system in mind. On the other hand, ARC serves as a private-sector layer that supports smart payments, programmable transactions, and remittances.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/16.0.1\/72x72\/1f1ee-1f1f3.png\" alt=\"\ud83c\uddee\ud83c\uddf3\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\">BREAKING<img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/16.0.1\/72x72\/1f525.png\" alt=\"\ud83d\udd25\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"><\/p>\n<p>India launches its FIRST stablecoin, ARC<\/p>\n<p>Fully backed 1:1 by the Indian government treasuries.<\/p>\n<p>A new era for digital rupee stability begins. <img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/16.0.1\/72x72\/1f4aa.png\" alt=\"\ud83d\udcaa\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"><img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/16.0.1\/72x72\/1fae1.png\" alt=\"\ud83e\udee1\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> <a href=\"https:\/\/t.co\/fBGdIN6A6z\" rel=\"nofollow\" target=\"_blank\">pic.twitter.com\/fBGdIN6A6z<\/a><\/p>\n<p>\u2014 Bitinning (@bitinning) <a href=\"https:\/\/twitter.com\/bitinning\/status\/1986019091627540847?ref_src=twsrc%5Etfw\" rel=\"nofollow\" target=\"_blank\">November 5, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Furthermore, ARC will follow India\u2019s partial currency convertibility rules. While the Rupee can be freely used for trade and business, it can not be used for unrestricted investments abroad.<\/p>\n<p>Only Business accounts will mint ARC tokens and will have to maintain compliance with India\u2019s foreign exchange laws. To prevent misuse, ARC will use Uniswap v4\u2019s tech to make sure tokens can only be swapped by approved users.<\/p>\n<p>The goal of the stablecoin is to keep money and innovation inside India\u2019s economy rather than letting it flow into dollar-backed stablecoins.<\/p>\n<p><strong>EXPLORE:\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/best-solana-meme-coins\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\">Top Solana Meme Coins to Buy in 2025<\/a><\/strong><\/p>\n<h2>India Uncovers $62M Crypto Laundering Network Across 27 Exchanges<\/h2>\n<p>The Indian Ministry of Home Affairs (MHA) has uncovered what could be the country\u2019s largest crypto money laundering case involving around \u20b9623 crore (approx. $62 million) across 27 crypto exchanges.<\/p>\n<p>According to a local <a class=\"general-link\" href=\"https:\/\/www.timesnownews.com\/india\/india-biggest-crypto-laundering-27-exchanges-mha-rs-623-crore-article-153176845\" target=\"_blank\" rel=\"noopener nofollow\">publication<\/a>, investigators on this case believe Chinese-controlled entities to be behind this scam. They use fake loan apps to extort money from Indian citizens and then convert those funds to crypto before moving them abroad.<\/p>\n<p>Crypto exchanges such as Coin DCX, WazirX, Giottus, ZebPay, Mudrex, and CoinSwitch have been flagged by the MHA as channels used by cyber criminals to launder money.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/16.0.1\/72x72\/1f4f0.png\" alt=\"\ud83d\udcf0\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> 27 Indian crypto exchanges involved in Rs 623 crore money laundering scandal, I4C found. Investigation highlights crypto&#8217;s role in illicit funds transfer.<\/p>\n<p>Download Fynx App: <a href=\"https:\/\/t.co\/YRuRkMtizq\" rel=\"nofollow\" target=\"_blank\">https:\/\/t.co\/YRuRkMtizq<\/a><\/p>\n<p> <a href=\"https:\/\/twitter.com\/hashtag\/Crypto?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\" target=\"_blank\">#Crypto<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/India?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\" target=\"_blank\">#India<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/MoneyLaundering?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\" target=\"_blank\">#MoneyLaundering<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Scandal?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\" target=\"_blank\">#Scandal<\/a> <a href=\"https:\/\/t.co\/eLOdSgibC0\" rel=\"nofollow\" target=\"_blank\">pic.twitter.com\/eLOdSgibC0<\/a><\/p>\n<p>\u2014 FYNX | Crypto News App (@Fynx_Crypto) <a href=\"https:\/\/twitter.com\/Fynx_Crypto\/status\/1991128097564061901?ref_src=twsrc%5Etfw\" rel=\"nofollow\" target=\"_blank\">November 19, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The scam involved hawala-style transactions, shell companies, and cross-border transfers, which the Enforcement Directorate (ED) and the Delhi Police are investigating at the moment.<\/p>\n<p>Additionally, authorities found that several exchanges failed to properly conduct KYC (Know Your Customer) procedures, which allowed suspicious activities to go unchecked.<\/p>\n<p><strong>EXPLORE:\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/next-1000x-crypto\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\">Next 1000X Crypto \u2013 Here\u2019s 10+ Crypto Tokens That Can Hit 1000x This Year<\/a><\/strong><\/p>\n<h2><strong>Japan Slashes Crypto Tax To 20%, Classifies Bitcoin As A Financial Product\u00a0<\/strong><\/h2>\n<p>Japan\u2019s Financial Services Agency (FSA) has trained its eyes on a major <a class=\"general-link\" href=\"https:\/\/www.asahi.com\/articles\/ASTCG3V2HTCGULFA02DM.html\" target=\"_blank\" rel=\"noopener nofollow\">regulatory reimagination<\/a>. It plans to reclassify 105 cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH), as financial products under the Financial Instruments and Exchange Act (FIEA).<\/p>\n<p>Meaning, major exchanges will need to follow stricter rules, similar to government securities, including detailed disclosures about each token, reporting requirements, and market surveillance.<\/p>\n<p>Also, for the first time, insider trading rules will apply to cryptocurrency in the same way they apply to traditional finance, like stocks or bonds.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">JUST IN: <img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/16.0.1\/72x72\/1f1ef-1f1f5.png\" alt=\"\ud83c\uddef\ud83c\uddf5\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> Japan is proposing to cut tax on <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\" target=\"_blank\">#Bitcoin<\/a> gains from ~55% down to 20% <img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/16.0.1\/72x72\/1f440.png\" alt=\"\ud83d\udc40\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> <a href=\"https:\/\/t.co\/rKViKMBt2O\" rel=\"nofollow\" target=\"_blank\">pic.twitter.com\/rKViKMBt2O<\/a><\/p>\n<p>\u2014 Swan (@Swan) <a href=\"https:\/\/twitter.com\/Swan\/status\/1899109521575878810?ref_src=twsrc%5Etfw\" rel=\"nofollow\" target=\"_blank\">March 10, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In addition to this reclassification, the country is pushing to slash its crypto tax from a high of 55% to a flat 20%. As of right now, Japan treats crypto profits as \u201cmiscellaneous income,\u201d which can heavily burden high-earning traders.<\/p>\n<p>The new taxation structure will apply to both individuals and institutions.<\/p>\n<p><strong>EXPLORE:\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/new-cryptocurrency\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\">Best New Cryptocurrencies to Invest in 2025<\/a><\/strong><\/p>\n<h2>South Korea\u2019s Largest Exchange Sold To Naver<\/h2>\n<p>South Korean tech giant Naver is reportedly acquiring Dunamu, the parent firm of Upbit, through a stock swap deal managed by Naver Financial. This <a class=\"general-link\" href=\"https:\/\/www.koreatimes.co.kr\/business\/tech-science\/20251119\/naver-to-confirm-plan-to-acquire-leading-crypto-exchange-operator-dunamu-at-board-meeting-next-week-sources\" target=\"_blank\" rel=\"noopener nofollow\">brings together<\/a> the country\u2019s largest tech firm and the largest exchange in a bid to change the financial landscape in the country.<\/p>\n<p>During an upcoming board meeting, both companies will finalize the deal and confirm the transaction. Once complete, Naver will integrate Dunamu\u2019s crypto expertise with its own digital payments, which already processes nearly \u20a980 trillion (about $58 billion) annually.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">&lt;Naver and Upbit, a Story of Leadership Change&gt;<\/p>\n<p>At Token2049 Singapore, one question kept coming up from foreign attendees. \u201cSo, Naver acquired Upbit. Is that like Binance buying CoinMarketCap?\u201d<\/p>\n<p>At first glance, it might look similar, a big platform buying a crypto company. But\u2026 <a href=\"https:\/\/t.co\/6MPlkw2Atf\" rel=\"nofollow\" target=\"_blank\">pic.twitter.com\/6MPlkw2Atf<\/a><\/p>\n<p>\u2014 Professor Jo (@0xProfessorJo) <a href=\"https:\/\/twitter.com\/0xProfessorJo\/status\/1974754218755211409?ref_src=twsrc%5Etfw\" rel=\"nofollow\" target=\"_blank\">October 5, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Looking beyond this acquisition, Naver and Dunamu plan to launch a Won-backed stablecoin to position themselves as leaders in the South Korean fintech space.<\/p>\n<p><strong>EXPLORE:\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/high-risk-high-reward-crypto\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\">9+ Best High-Risk, High-Reward Crypto to Buy in 2025<\/a><\/strong><\/p>\n<div class=\"nnbtc-key-takeaways\">\n<h2 class=\"nnbtc-key-takeaways__title\">Key Takeaways<\/h2>\n<ul class=\"nnbtc-key-takeaways__list\">\n<li class=\"nnbtc-key-takeaways__list-item\">\n        India plans rupee-backed stablecoin ARC to strengthen domestic liquidity and innovation    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        Japan cuts crypto tax to 20% and classifies Bitcoin as a financial product    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        Naver acquires Upbit, signaling major consolidation in South Korea\u2019s crypto and fintech sector    <\/li>\n<\/ul><\/div>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/altcoins\/crypto-news-asia-india-to-launch-rupee-backed-stablecoin-japan-rewrites-crypto-tax-rules-south-koreas-upbit-sold-to-naver\/\">Crypto News Asia: India To Launch Rupee-Backed Stablecoin, Japan Rewrites Crypto Tax Rules, South Korea\u2019s Upbit Sold To Naver<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>In today\u2019s rendition of our weekly crypto Asia news bulletin, we discuss key developments in the crypto Asian landscape with special emphasis on developments in India, Japan, and South Korea that could have a major global impact. Here are the biggest headlines from this week. Crypto News Asia: India To Debut Its Rupee-Backed Stablecoin In [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-59947","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/59947","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=59947"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/59947\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=59947"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=59947"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=59947"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}