Welcome to the Asia-Pacific Morning Brief—an essential summary of overnight cryptocurrency developments shaping regional markets and global sentiment. Keep an eye on this space while sipping green tea.
The Korean Central Bank supports a cautious approach to won-based stablecoin development, and the ruling party is accelerating digital asset legislation. OpenAI's GPT-6 memory announcement failed to boost AI cryptocurrency tokens, highlighting the disconnect between technological advancement and market sentiment.
Korean BOK Governor Supports Won Stablecoin with Bank-First Approach
Bank of Korea Governor Lee Chang-yong made his first public statement on stablecoins since the new Korean government's launch. On Tuesday, at the National Assembly's Finance Committee, the Governor supported the development of a won-based stablecoin but urged caution. He recommended banks lead initial issuance and gradually expand to other institutions.
The Governor emphasized that the central bank is not entirely opposed to stablecoin innovation. He acknowledged that digital currency development requires programmable money functions for conditional payments. However, he warned that non-bank issuers could facilitate money laundering and circumvent capital regulations.
The Governor's cautious stance contrasts with the accelerating political momentum for digital asset legislation. The ruling Democratic Party is establishing a special committee to push forward stablecoin and cryptocurrency ETF bills. Party officials cite President Lee Jae-myung's campaign promises and the need for coordinated action between government and parliament.
Altman Reveals GPT-6 Memory... AI Coins Fail to Rise
OpenAI CEO Sam Altman announced that GPT-6 will feature persistent memory capabilities for personalized user experiences. This announcement signals a faster AI model release cycle compared to GPT-5 development timelines. However, despite technological advancement claims, AI-centered cryptocurrency tokens showed minimal market reaction.
Worldcoin, closely associated with Altman's project, remained unchanged after the GPT-6 announcement. This minimal response highlights the growing disconnect between major AI product announcements and cryptocurrency market sentiment.
BeInCrypto Asia Coverage
China is considering a yuan-backed stablecoin to challenge dollar dominance, planning pilots in 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 reveals the MON framework using Avalanche to convert vehicles into tradable digital assets via Non-Fungible Tokens. Read
Despite China's continued underground operation accounting for 21% of hash rate, APAC Bitcoin mining is transitioning to renewable energy. Read
More Highlights
Cryptocurrency organizations support Brian Quintenz as Trump's CFTC nominee, despite Winklevoss brothers' opposition, highlighting industry political divisions. Read
Dogecoin drops 9%, triggering $10 million in longing liquidations, with further decline threatened by weakening momentum. Read
LIBRA meme coin surges after a US judge unfreezes $57.5 million for promoters, despite a rug pull scandal. Read
EminiFX founder Eddie Alexandre is ordered to pay $228 million for a fake AI Ponzi scheme targeting immigrants. Read
Harvard economist Kenneth Rogoff admits misjudging Bitcoin, criticizing US regulatory failure despite the university's $116 million ETF investment. Read
