India To Launch Rupee-Backed Stablecoin, Japan Rewrites Crypto Tax Rules, South Korea’s Upbit Sold To Naver
In today’s rendition of our weekly crypto Asia news bulletin, we discuss key developments in the crypto Asian landscape with special emphasis on developments in India, Japan, and South Korea that could have a major global impact.
Here are the biggest headlines from this week.
India is preparing to launch its very own Rupee-backed stablecoin sometime in Q1 2026. Polygon, an Ethereum infra company, and Anq, an Indian fintech company, are developing the token, called the Asset Reserve Certificate (ARC).
Issuers will back each ARC token 1:1 with the Indian Rupee, ensuring transparency and security. Further, it will work in tandem with the Reserve Bank of India’s (RBI) CBDC.
RBI’s CBDC aims to handle final settlements…
