South Korea’s DPK to propose crypto bill with $3.58M stablecoin reserve minimum

Several Japanese companies, including Remixpoint and Metaplanet, have been increasing their Bitcoin (BTC) holdings, underscoring the growing institutional interest in cryptocurrencies in the region.Photo by Kanchanara on UnsplashRemixpoint, an energy consulting firm listed on the Tokyo Stock Exchange, recently announced an additional purchase of 32.83 BTC valued at 500 million yen ($3.4 million), according to local news outlet CoinPost. This acquisition took place on May 13 at an average price of 15.23 million yen ($104,270) per BTC, bringing the company's total BTC holdings to 648.82 BTC. Remixpoint's crypto portfolio, including BTC, is now valued at 11.1 billion yen ($76 million) and also comprises Ethereum (ETH), Solana (SOL), XRP and Dogecoin (DOGE). The firm began actively accumulating BTC late last year, motivated by multiple factors, including the positive price trend following the latest Bitcoin halving event, increased market activity after the latest U.S. presidential election and the growth in institutional participation, particularly after the approval of spot crypto ETFs in the U.S. Metaplanet becomes a major BTC holderAnother notable player, Metaplanet, a publicly traded Japanese company specializing in Bitcoin investment, has positioned itself as one of the largest BTC holders globally. As of May 12, Metaplanet’s Bitcoin yield reached 170%, with total holdings of 6,796 BTC. This places it as the 11th largest Bitcoin holder worldwide and the largest in Asia, surpassing El Salvador, which currently holds 6,177 BTC, according to data from Arkham. Metaplanet's ongoing Bitcoin accumulation aligns with CEO Simon Gerovich's advocacy for Bitcoin. In a March podcast, Gerovich said he encourages his friends to allocate "100% of their net worth into Bitcoin." The company’s strategic goal is to amass 10,000 BTC by the end of 2025 and 21,000 BTC by 2026. Reinforcing its influence, Metaplanet appointed Eric Trump, the second son of pro-crypto U.S. President Donald Trump, to its newly formed Strategic Board of Advisors in January. Evolving crypto policies, including national reservesBefore Trump's second term, Gerovich expressed his expectation that other countries would follow the U.S. once it established a national Bitcoin strategic reserve—a move formalized by President Trump through an executive order in March. In a related development, Ukraine is reportedly drafting a bill to create a similar reserve in collaboration with Binance. Meanwhile, in Taiwan, lawmaker Ko Ju-Chun has been advocating for adding Bitcoin to the country's national reserves. In a similar trend, another Japanese firm, Value Creation, disclosed plans last month to acquire 100 million yen ($660,000) worth of Bitcoin, further reflecting the growing interest among Japanese companies in crypto investments. Complementing this corporate adoption trend, Japan's Financial Services Agency (FSA) has been shaping its regulatory framework for cryptocurrencies. The agency aims to redefine digital assets as financial products under the Financial Instruments and Exchange Act, a move viewed as an attempt to balance innovation with investor protection. Building on this approach, an FSA discussion paper released on April 10, which remained open for public feedback until May 10, proposed classifying crypto assets into two categories: those used for fundraising and business activities, and those that are not—such as BTC and ETH. This regulatory evolution, alongside increasing corporate investment in BTC, reflects Japan's efforts to adapt to the evolving global crypto landscape.

Earlier this month Metaplanet, a Japanese Bitcoin treasury company, said that it was targeting 10,000 Bitcoin in 2025 but the company has raised the bar once again, planning on an acquisition of 21,000 Bitcoin by 2026. On Jan. 5, Metaplanet CEO Simon Gerovich set out a number of objectives for 2025. Among them was a goal for the company to acquire 10,000 Bitcoin in 2025. Gerovich explained that the firm intended to utilize “the most accretive capital market tools available” in order for Metaplanet to meet that target.Photo by André François McKenzie on Unsplash2025-2026 Bitcoin PlanAbout three weeks after the Metaplanet CEO announced that ambition, the company published a press release on Jan. 28 detailing its 2025-2026 Bitcoin Plan, which goes much further.  The plan outlines that 10,000 Bitcoin remains the target for 2025 but that the company has adopted the strategy to accumulate 21,000 Bitcoin by 2026. Gerovich stated that since Metaplanet embraced the Bitcoin Standard on April 8, 2024, the company has experienced exponential growth. Gerovich added: “The market has recognized Metaplanet as Tokyo’s preeminent Bitcoin company, and we are seizing this momentum to solidify our position as a global leader. Our vision is to lead the Bitcoin renaissance in Japan and emerge as one of the largest corporate Bitcoin holders globally. This plan is our commitment to that future.” Adopting MicroStrategy’s Bitcoin playbookMetaplanet has adopted the Bitcoin playbook first pioneered by U.S. business intelligence company turned Bitcoin development firm MicroStrategy. In short, that playbook involves financing Bitcoin purchases with debt. In this way, the company can capitalize on Bitcoin’s historical trend of positive returns over time, using convertible notes and equity to facilitate that.  The practice also creates a feedback loop in so far as MicroStrategy buys Bitcoin, resulting in the Bitcoin unit price increases. The MicroStrategy stock price goes up. Demand for MicroStrategy’s stock and debt goes up, enabling the company to buy more Bitcoin. In its press release, Metaplanet looked back on what had been achieved in terms of its Bitcoin strategy in 2024. In Q4 2024, the company achieved a Bitcoin yield of 309.82%, following on from a 41.7% Bitcoin yield in Q3.  At the close of the year, the Japanese Bitcoin treasury company held 1,761 Bitcoin, purchased at an average Bitcoin unit price of 11.85 million yen ($76,411). Shareholder growth has seen the company surpass 50,000 shareholders. Meanwhile, share trading volume has increased 430x, year-on-year. Since the firm adopted the Bitcoin Standard in April 2024, the company’s market capitalization has grown by 7,000%. Last month, the company celebrated the milestone of having reached a $1 billion market cap. Asia’s largest equity capital raise for BitcoinThe company has dubbed its new plan “The 21 Million Plan.” It will comprise the issuance of 21 million shares by means of moving strike warrants. Gerovich confirmed on X that at $750 million, the plan will involve Asia’s largest-ever public equity capital raise to buy Bitcoin.

Huobi Rebrands as HTX to Mark Tenth AnniversaryIn a move marking its 10th anniversary, Seychelles-registered cryptocurrency exchange Huobi has decided to rebrand itself as “HTX.”Rebranding confusionIn crypto-centric discussions on social media, the decision has sparked controversy and raised eyebrows, drawing comparisons to the now-defunct exchange FTX.The announcement of Huobi’s rebranding to HTX was made on Wednesday. According to the company, the new name is a combination of symbolic elements. The “H” represents the first letter of “Huobi,” the “T” is a nod to Justin Sun’s blockchain project Tron, and the “X” stands for the exchange itself.Alternatively, some interpret “HT” as a reference to the exchange’s native Huobi Token (HT), while the “X” symbolizes the Roman numeral for 10, commemorating the company’s 10th anniversary. Huobi’s new slogan accompanying the rebranding is “HTX, Just Trade It.”Before the official announcement, Huobi changed its social media account names to align with the new brand. The exchange’s Twitter handle is now HTX_Global, and its official Telegram group is named “HTXglobalofficial.” As of the time of writing, the website domain still retains the original Huobi name.Photo by Kate Trysh on UnsplashFTX comparisonsThe rebrand immediately drew attention on social media. In one of a range of similar comments, a user lined up the Huobi logo next to that of FTX and wrote: “I think I’ve seen this movie before.” Although a matter of speculation, there has been some chatter on social media in recent weeks, questioning the health of the Huobi business. It didn’t help the firm that in August, rumors swirled that some of the company’s executives were subject to an investigation by Chinese authorities.This isn’t the first time a crypto-related entity has seemingly borrowed part of its name from FTX. In January, the founders of the collapsed cryptocurrency hedge fund Three Arrows Capital announced plans to raise $25 million for a proposed crypto exchange called “GTX.” Huobi’s rebrand has amused some FTX creditors who had faced criticism from some in the crypto sector for wanting to resurrect the business while maintaining the same branding.In early August, Huobi refuted reports suggesting insolvency and the arrest of senior executives by Chinese authorities. Additionally, the exchange had previously been ordered to cease operations in Malaysia following regulatory actions by the country’s securities regulator in May.International marketing effortHuobi’s rebranding to HTX has undoubtedly stirred debate and curiosity within the cryptocurrency community. Justin Sun, an advisor to the project, stated at a media briefing at Token 2049 in Singapore that the HTX brand will be marketed towards Huobi’s international English-speaking users.Sun said: “It’s very hard for foreigners, Westerners, to pronounce ‘Huobi’… It doesn’t make any sense to them,” Sun said, explaining that the word Huobi means fire and coin in Chinese. “That’s why we rebranded as HTX for international branding.”As the crypto industry continues to evolve, it remains to be seen how this new identity will impact Huobi’s reputation and standing in the market. Regardless, the crypto world is known for its surprises, and Huobi’s marketing move serves as a reminder that the industry is in constant flux, filled with unexpected developments.