Singapore's Hyperliquid Warning and Indonesia’s FinFluencer License: Asia Moves to Regulate Crypto

The Monetary Authority of Singapore (MAS) has recently placed decentralized perpetuals exchange Hyperliquid on its Investor Alert List alongside Bybit and other exchanges like KuCoin and Bitget. This move is part of the city-state’s efforts to protect investors from misleading claims by unregulated entities. While MAS did not impose any enforcement action, it serves as a warning for potential users in Singapore.

Simultaneously, Indonesia's financial regulator has implemented new certification requirements for social media influencers promoting cryptocurrencies and other digital assets. Under Regulation No. 6 of 2026, these influencers must obtain competency certifications unless they are already licensed under separate rules. The regulation mandates that recommendations be made through authorized exchanges only.

In a related development, South Korean authorities fined Bithumb $136,000 for breaching personal information protections by sharing user data with overseas exchanges without proper consent. This incident highlights the increasing scrutiny on cryptocurrency platforms regarding privacy and security standards in Asia.

Meanwhile, Japan's SBI Holdings is acquiring full control of crypto exchange Bitbank through a deal worth 46.7 billion Japanese yen ($289 million). The acquisition aims to bolster SBI’s regulated footprint and customer base, potentially enhancing its distribution channels for stablecoins and tokenized assets.

These regulatory moves across Asia underscore the growing importance of compliance in the cryptocurrency space. They also indicate that governments are increasingly looking to tighten oversight on social media influencers who promote cryptocurrencies to ensure transparency and protect consumers.

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Source: Cointelegraph. Summarized and rewritten by the Vexoda Newsroom. This is market news, not financial advice.