DeepSeek US Ban, Swiss-Asia Crypto Ties Strengthen

US Restricts AI and Semiconductor Investments Abroad Amid Espionage Concerns

The U.S. Treasury Department has unveiled proposed regulations aimed at blocking investments in certain artificial intelligence projects, referred to as “Super Intelligence” projects, and high-risk semiconductors in adversarial nations. These measures, primarily targeting geopolitical rival China, will now extend to other adversaries including Russia, Iran, North Korea, and Cuba. The rules are slated to implement the COINS Act from December 2025 and broaden the existing Outbound Investment Security Program, which took effect in January 2025.

These new regulations build upon prior restrictions on the sale of advanced AI chips to China. The U.S. has begun enforcing these measures, recently imposing a $200,000 penalty on Amidi, LLC, for failing to report an investment by its Chinese subsidiary into Shanghai Qiongche Intelligent Technology, also known as Noematrix, a company specializing in embodied AI and robotics.

DeepSeek Products Banned from US Federal Civilian Agencies

In a separate development, the U.S. Department of Homeland Security has mandated the removal of DeepSeek products from federal civilian agency IT systems, citing espionage fears. The order, issued on Monday, also encompasses DeepSeek affiliates and any third-party products or services developed using DeepSeek’s technology. Affected agencies are also prohibited from making new purchases of these products.

The DHS warned that the use of DeepSeek by government employees and contractors could potentially expose sensitive information to China, including details about U.S. citizens and federal programs.

Solana Accelerate Event in Shanghai Postponed

The Solana Accelerate event in Shanghai has been postponed after pre-registration numbers surpassed the cap set by local authorities, according to Lily Liu, president of the Solana Foundation. Liu stated on X that event registrations quadrupled overnight following publicity, leading organizers to postpone the event to “comply with local requirements.” Earlier on Friday, X users had reported the event was “abruptly suspended” with law enforcement present at the venue. Binance founder Changpeng Zhao had previously expressed surprise that the Solana Foundation had been permitted to open a Shanghai office, noting that BNB Chain had been unable to do so.

South Korea and Japan Partner on Yen Stablecoin Payments

South Korea’s Shinhan Card has entered into an agreement with Japan’s SBI VC Trade and SBI XDC Network APAC to pilot yen stablecoin payments for travelers and cross-border trade settlement. The pact, signed on Tuesday, will involve testing stablecoin card payments, wallet-to-wallet transactions, and cross-border trade settlement, alongside assessments of anti-money laundering and fraud detection controls. Shinhan Card is a major South Korean credit card issuer, while SBI is a prominent Japanese financial group with interests in banking, brokerages, insurance, and cryptocurrency exchanges.

Super League Shareholders Approve Metaplanet Stake

Shareholders of Super League, a Nasdaq-listed gaming and digital media company, have approved a deal that will grant Japanese Bitcoin treasury firm Metaplanet a 93.7% ownership stake. This move is expected to facilitate Super League’s expansion into U.S. capital markets through a publicly traded Bitcoin treasury entity. Metaplanet has also announced plans to repurchase approximately $160 million of its own shares.

South Korean Finance Officials Consult on Crypto Taxation

Finance officials reportedly met with major cryptocurrency exchanges this week, shortly after a lawmaker introduced legislation that could postpone the implementation of a new crypto tax by two years. The meeting served as a consultation on crypto taxation, with representatives from Upbit, Bithumb, Coinone, DigitalX, and Gopax, along with executives from the Digital Asset Exchange Alliance (DAXA), in attendance. South Korean regulators have delayed the crypto tax three times, with the latest postponement pushing the start date to 2027 amid ongoing political disagreements and industry opposition.

Injective and BDACS to Introduce Won-Backed Stablecoin

Blockchain network Injective has signed a memorandum of understanding with South Korean digital asset custodian BDACS to introduce a won-backed stablecoin to its tokenized asset markets. This initiative could enable institutions to settle transactions without relying on U.S. dollar stablecoins. Separately, Kakao, KakaoBank, and KakaoPay have established a new stablecoin task force to develop the necessary infrastructure for won stablecoin issuance, custody, and payments, with an initial focus on shopping and gifting applications.

Malaysia Launches Tokenized Bond Platform

Malaysia’s central bank has launched a distributed ledger-based platform for the issuance and holding of tokenized bonds, integrating digital securities records with a payment system designed for 24/7 operation. Bank Negara Malaysia (BNM) stated that its next-generation Scripless Securities Depository System (SSDS+) supports the issuance, depository, and safekeeping of tokenized debt securities, including Islamic bonds known as sukuk.

Bitget Plans Acquisition of Thai Crypto Exchange

Crypto exchange Bitget has announced its intention to acquire Thailand’s GMO-Z.com Cryptonomics, a move aimed at expanding its presence in Southeast Asia. This announcement comes weeks after a significant hack affected Bitget’s hot and warm wallets. The proposed transaction involves BTGT Management (Thailand), a company in which Bitget holds an interest, according to a statement shared with Cointelegraph. The acquisition is expected to enable Bitget to introduce its trading platform to Thai users.

Chinese National Arrested in Thailand for Money Laundering

Thai police have arrested a 37-year-old Chinese national wanted by Chinese authorities for alleged involvement in an international crime network and money laundering. Investigators reported that the network handled over 500 million yuan ($75 million) in transactions, according to Thai media outlet Khaosod English. The suspect is alleged to have facilitated cryptocurrency and foreign-currency exchanges for criminal groups through more than 133 accounts. He reportedly attempted to evade arrest by using forged documents and changing vehicle registration plates before being apprehended at a luxury residence in Bangkok.

Vietnam Explores Crypto in Tourism and Tech Cooperation

Da Nang, Vietnam’s fourth-largest city, is utilizing a controlled sandbox environment to enable businesses to deploy crypto-related applications within the tourism sector. The city welcomed 15.9 million visitors in the first nine months of 2026. Vietnam has also signed a free-trade agreement with Switzerland, Iceland, Norway, and Liechtenstein. Following a meeting with the Vietnamese Prime Minister, Swiss President Guy Parmelin proposed linking Switzerland’s “Crypto Valley” hub with Vietnam’s innovation ecosystem to foster cooperation in blockchain, AI, and quantum technology.

Singapore-Backed Bank Launches Spot Bitcoin ETF in Switzerland

Singapore Gulf Bank, licensed in Bahrain, has announced that its retail customers can now convert between dollars for USDT or USDC via its mobile banking app. Meanwhile, Singapore-backed BIT Asset Management has launched Switzerland’s first Bitcoin ETF. Formerly known as Matrixport, its Zurich arm has received approval from the Swiss Financial Market Supervisory Authority to launch the country’s inaugural spot Bitcoin ETF, which is also the only spot Bitcoin ETF in Europe.