Bhutan Partners With Bitdeer on Crypto Mining Fund

Buysell Standards and AGST collaborate to expand security token projects in Southeast AsiaBuysell Standards, a South Korean company operating fractional investment platform Piece, is accelerating its expansion into the Southeast Asian market through a recent business collaboration.A report from Korean news outlet Financial News indicates that the company has signed a memorandum of understanding (MOU) with AGST, a subsidiary of blockchain-focused investor Fundiant Holdings. This collaboration aims to launch security token projects within the Association of Southeast Asian Nations (ASEAN) region.Photo by Kelvin Zyteng on UnsplashSingapore in Q1 2024As an asset manager in Singapore and Japan, AGST is set to play a pivotal role in the issuance and distribution of security tokens in these markets. Their strategy includes launching security token products in Singapore in the first quarter of next year. These products will be backed by assets from Buysell Standards.The partnership between Buysell Standards and AGST is set to be multifaceted, encompassing several key areas of collaboration. Together, they will focus on developing new investment products and building the necessary infrastructure to support them. They will also focus on marketing and promotional efforts in the ASEAN region.Anticipating regulatory exemptionBuysell Standards is among the seven companies that received approval from the South Korean Financial Services Commission to issue security tokens. The company is anticipating a regulatory exemption from the government, which would allow them to introduce fractional investment products linked to ship finance.Buysell Standards expects that its partnership with AGST will facilitate quicker access to funding from international sources for high-quality investment products in South Korea. Meanwhile, AGST seeks to introduce a range of Korean assets to the global security token market.Emphasizing the quick adoption of fintech by ASEAN investors and their fondness for South Korea, Shin Beom-jun, CEO of Buysell Standard, stated that the company is committed to actively promoting Korean security token products on the global investment stage.Kim Chang-soo, Chairman of Fundiant Holdings, expressed his ambition to strengthen the Korean security token market. He observed that the market is currently in an early stage of development, leading to the undervaluation of underlying assets. He believes that introducing Korean security tokens to international markets will reciprocally aid in the expansion and maturation of the domestic market.

Japan’s Financial Services Agency (FSA) is advancing proposals to authorize exchange-traded funds (ETFs) backed by specific cryptocurrencies, a move that fleshes out previously reported plans to apply a flat 20% separate tax to crypto gains. According to agency materials released on Dec. 26 and reported by CoinPost, the regulator has now clarified that crypto-linked ETFs and derivatives will be integrated into this new tax framework.Photo by Jakub Żerdzicki on UnsplashThe materials, part of the tax reform framework for the fiscal year 2026, indicate that the regulator intends to align the tax treatment of crypto-linked ETFs with that of stocks and foreign exchange trading. Under the current system, cryptocurrency gains in Japan are classified as miscellaneous income, subjecting investors to progressive tax rates that can reach approximately 55% when local levies are included. The proposed reforms aim to integrate crypto assets into the Financial Instruments and Exchange Act (FIEA), a legislative package slated for debate during the 2026 Diet session. Derivatives also subject to separate taxBeyond ETFs, the regulator plans to adjust the taxation of derivative products based on certain crypto assets. While these derivatives would remain classified as miscellaneous income—similar to conventional futures—the method of taxation would shift from comprehensive taxation to a separate self-assessment model. Despite the outlined tax reductions, market observers anticipate that full implementation may be delayed until 2028 due to the time required to amend the relevant laws and government ordinances. FSA restructures to better oversee cryptoIn parallel with regulatory updates, the FSA is restructuring its internal operations to better address digital finance. Nikkei reported that the agency has decided to elevate its Crypto-Assets and Blockchain Innovation Office to the status of a division beginning in the administrative fiscal year starting July 2026. This restructuring follows an August proposal in which the FSA cited the need to bolster its capacity to handle financial services transformed by financial technology, crypto trading, and generative artificial intelligence (AI). The agency noted that it faces accumulating challenges, including fraud prevention and the government's broader goal of positioning Japan as a leading asset management nation. Additionally, the establishment of a new Asset Management and Insurance Supervision Bureau is expected as part of the reorganization. The regulatory shifts coincide with broader efforts to integrate blockchain technology into Japan's financial infrastructure. A separate Nikkei report last week stated that policymakers have agreed to prepare for the issuance of local government bonds as blockchain-based security tokens. The government plans to submit the necessary legislation during the next ordinary Diet session, aiming to streamline settlement processes and enable real-time monitoring of investor data. Corporate crypto strategies persist despite concernsIn the private sector, Tokyo Stock Exchange-listed Metaplanet is proceeding with a corporate strategy focused on Bitcoin accumulation. Dylan LeClair, the company's Director of Bitcoin Strategy, said on X that shareholders at an extraordinary meeting approved proposals to raise capital for additional Bitcoin purchases, including the issuance of Class B preferred shares to overseas institutional investors. Earlier this year, Metaplanet shareholders authorized a long-term plan to acquire more than 210,000 Bitcoin by 2027, representing roughly 1% of the total supply. However, analysts warn that corporate models based primarily on asset accumulation face structural risks. According to Cointelegraph, industry figures such as MoreMarkets CEO Altan Tutar and Solv Protocol co-founder Ryan Chow have cautioned that companies relying solely on digital asset holdings may struggle to maintain valuations without developing operational businesses that generate consistent returns. 

South Korean digital marketing company FSN’s subsidiary Fingerlabs has been selected as a tenant of the city of Busan’s Blockchain Offshore Firm Development Center. The company confirmed that it moved in recently on Jan. 2.Photo by Héctor J. Rivas on UnsplashFostering growth and collaborationThe Blockchain Offshore Firm Development Center is part of a project conducted by the Korea Internet & Security Agency (KISA) and the Ministry of Science and ICT and operated by Busan to create a special corporate cluster of blockchain firms, thus revitalizing the blockchain industry and nurturing a sustainable industrial ecosystem. "We are excited to be a new tenant at the Blockchain Offshore Firm Development Center,” said Kim Dong-hoon, CEO of Fingerlabs. “We will share our business know-how with other tenants and commit to joint growth. We will also actively participate in various programs provided by the center to contribute to Busan's leap into becoming a digital economy city." Various companies operating blockchain-related businesses outside of Busan were selected to be a part of the development center after a comprehensive overall evaluation of factors like technological facets, marketability and contributions to innovation. Corporate residents have access to various infrastructure and benefits, including facilities and programs at the Busan Blockchain Venture Convention, also dubbed “b-space”. Fingerlabs plans to participate in various programs led by the public sector such as councils, seminars and conferences to help Busan – notably the first regulation-free special zone for blockchain businesses in South Korea – foster its digital economy based on its expertise in the field of Web3.  Innovating Web3 solutionsFingerlabs has grown to become one of the country’s major blockchain companies through its varied services and products, which are provided to corporate clients like SK Planet, Lotte Home Shopping and SK Networks. In particular, it recently launched Bling, a participatory Web3 membership platform that allows businesses to create and manage NFTs that are linked to membership-only benefits. The company also operates a Web3 content distribution hub called Xclusive and Favorlet, an NFT wallet and customer management service.