Singapore's Hyperliquid Warning, Indonesia's FinFluencer Rules: Asia Crypto Regulatory Update
Vexoda Newsroom
Singapore added decentralized exchange Hyperliquid to its Investor Alert List while Indonesia introduced certification rules for crypto influencers. South Korea fined Bithumb and Japan’s SBI Holdings
Singapore's financial regulator, the Monetary Authority of Singapore (MAS), has added decentralized perpetuals exchange Hyperliquid to its Investor Alert List on June 30th. This move comes after Bybit was also placed on the list earlier this month, with KuCoin and Bitget already listed. MAS aims to protect consumers by warning them about entities that may falsely claim regulatory backing.
Meanwhile, Indonesia's Financial Services Authority (OJK) has introduced new rules for social media influencers promoting cryptocurrencies or other digital financial assets. Under Regulation No. 6 of 2026, influencers must obtain competency certifications unless they are already licensed in a separate capacity. These regulations require that recommendations only be made through authorized exchanges and that marketing campaigns go through regulated businesses.
These regulatory actions underscore the growing scrutiny on crypto-related activities across Asia. South Korea's Personal Information Protection Commission fined Bithumb $136,000 for sharing user data overseas without proper consent in a case involving Tether (USDT) order books and other exchanges. This incident highlights the importance of adhering to stringent privacy laws.
In Japan, SBI Holdings is acquiring Bitbank through a deal worth 46.7 billion yen ($289 million), creating what will be the largest crypto exchange in the country once complete. The acquisition aims to expand SBI's regulated footprint and customer base while integrating with its existing service SBI VC Trade.
These regulatory developments indicate a trend of increased oversight and standardization within Asia’s cryptocurrency market, which could impact trading practices and investor confidence. Traders should monitor these changes as they may affect the operational landscape and compliance requirements for exchanges operating in or serving Asian markets.
The next steps involve continued monitoring by regulators to ensure adherence to new guidelines and potential further actions against non-compliant entities. Investors are encouraged to stay informed about regulatory updates, especially those involving certification and data protection rules.
Source: Cointelegraph. Summarized and rewritten by the Vexoda Newsroom. This is market news, not financial advice.