Welcome to the Asia Pacific Morning Brief—your essential digest of overnight crypto developments shaping regional markets and global sentiment. Grab a green tea and watch this space.
South Korea’s central bank supports cautious won stablecoin development while the ruling party accelerates digital asset legislation. OpenAI’s GPT-6 memory announcement failed to uplift AI crypto tokens, underscoring the disconnect between technological advancements and market sentiment.
South Korea’s BOK Governor Backs Won Stablecoin with Bank-First Approach
Bank of Korea Governor Rhee Chang-yong made his first public remarks on stablecoins since the new administration took office. Speaking to parliament’s finance committee on Tuesday, Rhee endorsed won-denominated stablecoin development but advised caution. He suggested that banks should lead the initial issuance before gradually extending to other institutions.
Rhee stressed that the central bank doesn’t fully oppose stablecoin innovation. He pointed out that digital currency evolution needs programmable money features for conditional payments. However, he cautioned that non-bank issuers might facilitate money laundering and bypass capital regulations.
The governor’s cautious approach contrasts with the increasing political momentum for digital asset legislation. The ruling Democratic Party is forming a special committee to push forward stablecoin and cryptocurrency ETF proposals. Party officials reference President Lee Jae-myung’s campaign promises and the necessity for coordinated government-parliament action.
Altman’s GPT-6 Memory Reveal Fails to Lift AI Crypto Tokens
OpenAI CEO Sam Altman announced that GPT-6 will feature persistent memory capabilities for personalized user experiences. This signals quicker AI model release cycles compared to GPT-5’s timeline. However, despite claims of technological progress, AI-focused cryptocurrency tokens exhibited muted market reactions.
Worldcoin, closely tied to Altman’s projects, remained stagnant following the GPT-6 announcement. This subdued response emphasizes the widening disconnect between significant AI product launches and crypto market sentiment.
BeInCrypto’s Asian Coverage
China is considering yuan-backed stablecoins to counter US dollar dominance, with pilot projects planned for Hong Kong and Shanghai. Read
SBI Holdings is collaborating with a Singapore startup to launch a blockchain platform for tokenized stock trading by 2026-2027. Read
Toyota Blockchain Lab has unveiled the MON framework, utilizing Avalanche to convert vehicles into tradable digital assets via NFTs. Read
APAC Bitcoin mining is transitioning towards renewable energy, despite China’s ongoing underground operations making up 21% of the hashrate. Read
More Highlights
Crypto organizations are rallying behind Trump’s CFTC pick Brian Quintenz, despite opposition from the Winklevoss twins, highlighting political divisions within the industry. Read
Dogecoin has dropped 9%, leading to $10 million in long liquidations as diminishing bullish momentum threatens further declines. Read
LIBRA meme coin surged as a US judge unfreezes $57.5 million from promoters amidst a rug-pull scandal. Read
EminiFX founder Eddy Alexandre has been ordered to pay $228 million for a fake AI Ponzi scheme aimed at immigrants. Read
Harvard economist Kenneth Rogoff admits to misjudging Bitcoin while criticizing US regulatory failures, despite the university’s $116M ETF investment. Read
The post Bank of Korea Acknowledges Stablecoin Merits: APAC Brief appeared first on BeInCrypto.
