1. Overall Operation of Crypto Industry in UAE Remains Stable link
Despite weeks of U.S. and Israeli military operations against Iran that have disrupted energy and transportation systems across the Middle East, the UAE’s crypto industry has remained largely stable. Industry insiders note that crypto firms rely heavily on cloud infrastructure and global trading platforms, allowing employees to work remotely or temporarily relocate abroad while operations continue. There are no significant signs of capital flight from the UAE due to the conflict.
Meanwhile, several regional events have been canceled or postponed, including Dubai’s major crypto conference TOKEN2049, which was rescheduled from April 2026 to April 2027 due to security concerns. Financial institutions such as Citibank have also closed most of their UAE branches and instructed staff to work remotely.
2. South Korea’s Main Opposition Party Proposes Full Abolition of 22% Crypto Income Tax link
South Korea’s largest opposition party, the People Power Party, has proposed a bill to fully abolish the planned cryptocurrency capital gains tax scheduled for implementation in 2027. Previously, South Korea intended to impose a 22% tax (20% national income tax + 2% local tax) on crypto asset profits exceeding 2.5 million KRW (approximately $1,865) starting in 2025. The bill also references the U.S. SEC’s guidance classifying most cryptocurrencies as commodities, arguing that crypto assets should not be treated as securities.
3. Bursa Malaysia Issues Consultation Paper №1 of 2026 link
Bursa Malaysia has issued Consultation Paper №1 of 2026, proposing amendments to the Main Market Listing Requirements and relevant guidelines to allow the listing and trading of Digital Currency ETFs on the exchange. The public consultation period will last until April 10. The proposed amendments include adjusting the Main Market listing requirements and exchange guidelines to provide a regulatory framework for the listing and trading of Digital Currency ETFs.
4. Central Bank of Russia Considers Allowing Digital Financial Assets (DFA) Issuance on Public Chains to Expand Cross-Border Financing Channels link
The Bank of Russia is studying the possibility of allowing the issuance of Digital Financial Assets (DFAs) on public blockchain networks and plans to propose a relevant legal framework as early as the summer of 2026. Analysts say that in the future, Russian companies may issue such assets on public blockchains like Ethereum, and circulate them on cryptocurrency exchanges or in the DeFi market, with the aim of attracting foreign capital and expanding cross-border financing channels.
5. Japan’s FSA Plans to Strengthen Penalties for Crypto Asset Violations link
Japan’s Financial Services Agency (FSA) plans to strengthen penalties for violations related to crypto assets. For entities engaging in unregistered cryptocurrency sales, the proposed maximum prison term will be increased from up to 3 years to up to 10 years, and the upper limit of fines will also be raised from 3 million yen to 10 million yen. The relevant legislative amendment plan will be submitted to the Diet in the near future to enhance investor protection.
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6. South Korea’s FIU Imposes KRW 36.8 Billion Fine on Crypto Exchange Bithumb link
South Korea’s Financial Intelligence Unit (FIU) has fined local cryptocurrency exchange Bithumb 36.8 billion won (approximately $24.6 million) for anti-money laundering violations and ordered a six-month partial suspension of its operations. The regulator stated that the exchange was involved in around 6.65 million violations, of which roughly 3.55 million were related to failures to implement Know Your Customer (KYC) procedures, and about 3.04 million involved failures to block restricted transactions. The suspension only affects newly registered users; existing users can still trade and transfer funds normally.
7. Times of Israel Reporter Receives Death Threats from Polymarket Gamblers Over Altered Missile Attack Reports link
The Times of Israel reported that its military reporter Emanuel Fabian recently received death threats from multiple Polymarket participants, who demanded he alter his coverage of Iran’s missile attack on Israel on March 10. The prediction market on Polymarket titled “Will Iran attack Israel on the specified date?” attracted over $14 million in wagers. Under the platform’s rules, intercepted missiles do not count toward a “Yes” outcome. Gamblers who bet “No” demanded the reporter revise his story from “missile struck an open area” to “intercepted debris.” One bettor claimed the original report caused him a $900,000 loss. Polymarket officially condemned the threats in the strongest terms, announced it had banned all involved accounts, and said it would refer the relevant information to law enforcement for handling.
8. Metaplanet Completes Approximately JPY 40.8 Billion Financing via Third-Party Private Placement link
Japan-listed Metaplanet has raised approximately 40.8 billion yen (about $270 million) via a third-party private placement targeting global institutional investors, with the new shares priced at a roughly 2% premium to the market price. Concurrently, the company issued warrants with a strike price at a roughly 10% premium; full exercise is expected to bring in an additional 44.5 billion yen (about $300 million). The total potential financing could reach up to 85.3 billion yen (about $570 million). The firm stated the funds will be used to advance its target of holding 210,000 BTC.
Metaplanet announced a revision to its Capital Allocation Policy. The company currently holds approximately 35,102 BTC. Under the new policy, Metaplanet will raise capital through perpetual preferred shares, common stock issuances, corporate bonds, and credit lines secured by BTC collateral. When the mNAV (market-to-net asset value ratio) falls below 1x, the company will prioritize share buybacks to boost the amount of BTC held per share. Additionally, Metaplanet will retain the option to conduct a Rights Offering to accumulate more BTC during bear markets when it is in the long-term interests of shareholders, and plans to cap overall leverage at around 10% of BTCNAV (BTC net asset value).
9. Crypto.com Partners with South Korea’s Largest Payment Gateway KG Inicis to Enable Crypto Payments for Foreign Tourists link
Crypto.com has partnered with KG Inicis, South Korea’s largest payment gateway and Value-Added Network (VAN) service provider. The two parties plan to integrate Crypto.com Pay, enabling foreign tourists to use digital assets to pay for goods and services across KG Inicis’ merchant network in South Korea. KG Inicis processes over 400 million transactions annually and holds a market share of approximately 40%.
10. Binance: Iran-Related Funds Not Sourced from Platform; Around $126 Million Flowed into Related Wallets via Multi-Layer Transfers link
Binance has issued a compliance statement refuting media reports regarding Iran-linked fund flows, stating the reports contain inaccuracies. According to Binance’s investigation, a complex funding network spanning Asia and the Middle East was uncovered. The funds originated from regulated stablecoin issuers and Singaporean digital payment service providers, and after passing through multiple layers of wallets, approximately $126.1 million flowed into Iran-linked wallets — of which around $24.1 million was associated with Iran’s Islamic Revolutionary Guard Corps.
Binance emphasized that the funds neither originated from nor terminated on its platform. Upon identifying suspicious activity, the exchange suspended the relevant accounts and reported the matter to law enforcement agencies. The company also denied dismissing employees in connection with compliance investigations. Binance added that its compliance investments have drastically reduced sanctions-related risk exposure, and it continues to cooperate with law enforcement authorities.
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