Across Asia, governments are rethinking how digital assets fit into financial systems. In a move towards balanced regulation, Hong Kong is establishing a stablecoin regime, Thailand is preparing rules for exchange-issued tokens, Malaysia is overhauling its digital asset exchange framework, and South Korea is aligning virtual-asset firms with its venture ecosystem. This shift signals a departure from blanket bans to ensure responsible innovation while safeguarding investors. The IOTA Foundation is at the forefront of this change, advocating for privacy-preserving compliance through feedback on these regulatory developments. We’ve been engaged in consultations across Asia, providing constructive input on regulations being developed by regulators like Hong Kong’s Monetary Authority (HKMA) and Thailand’s Securities and Exchange Commission (SEC), among others.