Asian Crypto Landscape This Week: India Audits, Japan Facilitates Expansion, Vietnam Dubuts Crypto Exchange

Asian crypto momentum is in full swing. Regulators are warming up to exchanges, and banks and fintechs are exploring tokenisation. The entire region is looking like a serious playground for digital assets.

Here’s what transpired this week in the Asian crypto landscape.

Vietnam Gears Up For A Crypto Exchange Debut

Vietnam has emerged in the Asian crypto landscape as a promising destination for crypto enthusiasts in the last few years.

The country recently greenlit a pilot program for cryptocurrency exchanges under Resolution 05/2025, Vietnam’s legal framework for piloting a regulated crypto trading market over five years.

The framework mandates that firms must hold a minimum of $68M (VND 10 trillion) in charter capital and requires 65% institutional ownership. Banks, securities firms, insurers, or tech companies will hold the remaining 35%.

As a result, there’s been a flurry of activities from financial institutions.

Vietnam enters the crypto era!
Vietnam is set to launch its first regulated cryptocurrency exchange, with Upbit leading the way.
A major step forward under Resolution 05/2025, paving the path for a stronger blockchain ecosystem.#CryptoNews #Vietnam #Blockchain #Upbit pic.twitter.com/Bcepktp4OD

— Blackcroww (@blackcroww_com) September 15, 2025

Vietnamese securities firms such as SSI Securities launched SSI Digital Corporation in partnership with Tether, U2U Network, and AWS to build blockchain infrastructure in the country.

Other securities firms, such as Techcom Securities (TCBS), created TCEX, scaling its capital from $20M to $690M, and VIX Securities launched VIXEX, growing from $1M to $6.8M.

Banking institutions in Vietnam have also joined the fray. The country’s MB Bank teamed up with South Korea’s Dunamu Group, the force behind Upbit, to facilitate technology transfer and compliance.

PI NETWORK NEWS : MB Bank Partners with Dunamu (South Korea) to Launch a Digital Asset Exchange in Vietnam
15:10 | 13/08/2025

In Vietnam, the Military Commercial Joint Stock Bank (MB Bank) has signed a Memorandum of Understanding (MOU) with Dunamu Inc. – the owner and… pic.twitter.com/6AbxgFQMhW

— JoJo-π (@jojo102102) August 14, 2025

Additionally, VPBank is developing a tokenised asset exchange through VPBank Securities, which is also preparing for an IPO.

While early signs signal institutional momentum, the program’s success depends on how well Vietnam balances innovation with investor protection and regulatory oversight.

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India’s FIU Directs Cybersecurity Checks On Crypto Companies

India’s Financial Intelligence Unit (FIU) has issued a directive that requires all crypto service providers in the country to undergo mandatory cybersecurity audits.

According to a report published by a local publication on September 17, 2025, the FIU aims to tighten its digital asset oversight in the country through this directive.

The directive also ensures that firms comply with its anti-money laundering (AML) and counter-terrorism financing (CTF) regulations.

Further, it mandates that government-certified auditors must conduct the audits, and firms must submit their reports to the FIU within a fixed timeframe.

NO AUDIT, NO CRYPTO LICENSE IN INDIA

According to The Economic Times, all Indian crypto exchanges must now undergo mandatory audits by CERT-In empanelled cybersecurity firms — directly tied to FIU registration under AML laws.

What’s Ordered
•Govt-approved… pic.twitter.com/pSi44B9n8j

— Ganraj K (@Ganrraj) September 17, 2025

The directive applies to both offshore and domestic entities operating in the country, including exchanges, custodians, and wallet providers.

This follows FIU’s earlier enforcement actions, including show-cause notices and website blocks targeting non-compliant offshore platforms.

The publication quoted Harshal Bhuta, a partner at a Mumbai-based chartered accountancy firm, as saying, “The introduction of cyber security audits is in all likelihood triggered by recent crypto thefts in a few exchanges.”

While some legal experts view this move as a positive for user protection, it raises doubts about whether traditional financial auditors can address crypto-native risks.

Meanwhile, the crypto industry in India grapples with high taxation and regulatory ambiguity.

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Japan’s Credit Saison Backs US Expansion In The Asian Crypto Landscape

Credit Saison, Japan’s third-largest credit card issuer, launched Onigiri Capital, a $50 million blockchain-focused fund to support US-based startups working on real-world asset (RWA) applications.

The fund is operated by its venture arm Saison Capital and has already raised $35M with an intended close at $50M.

Saison Capital, the venture capital arm of Japan's Credit Saison Co., Ltd., has announced the establishment of a blockchain-focused investment fund named Onigiri Capital. The fund aims for an initial target size of $50 million and has already secured commitments totaling $35… pic.twitter.com/SjZzNdDnfF

— Norbert Gehrke (@norbertgehrke) September 16, 2025

Onigiri Capital is aimed at early-stage companies building payment tools, tokenisation platforms, stablecoins and decentralised financial infrastructure. Particularly, it focuses on connecting US developers to Asian markets.

Fund managers underscored that many US-based entities struggle to navigate the regulatory and institutional complexities of the Asian crypto landscape.

Noting the growing importance of Asia in blockchain finance, Onigiri Capital offers access to local networks across Japan, Singapore, Indonesia, Korea, Malaysia and the Philippines.

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