New DeepSeek ban in US, Swiss-Asia crypto ties deepen: Asia Express

The U.S. has banned DeepSeek from federal civilian agencies due to spying concerns. Singapore's firm, behind Europe's first spot Bitcoin ETF, is set to launch in Switzerland, with Vietnam partnering on crypto technology. The U.S. Treasury has introduced new rules blocking investment in AI projects and specific high-risk semiconductors in countries like China, Russia, Iran, North Korea, and Cuba.

These rules implement the COINS Act and expand the Outbound Investment Security Program. The U.S. is also penalizing companies, such as Amidi, LLC, for failing to report AI investments. The DHS ordered the removal of DeepSeek products from federal agencies, claiming they could expose sensitive information to China. The Solana Accelerate event in Shanghai was postponed due to registration exceeding the cap set by local authorities.

South Korea's Shinhan Card has partnered with SBI VC Trade and SBI XDC Network APAC to test yen stablecoin payments for cross-border trade and transactions. A Nasdaq-listed gaming firm, Super League, saw its ownership stake purchased by a Japanese Bitcoin treasury firm, Metaplanet, which also plans to repurchase shares. Korean regulators delayed the crypto tax, pushing the start date to 2027.

Injective has teamed up with South Korean digital asset custodian BDACS to introduce a won-backed stablecoin to its markets. Malaysia's central bank has launched a platform for tokenized bonds using a distributed ledger, and Bitget plans to acquire Thailand's GMO-Z.com Cryptonomics to expand in Southeast Asia.