Every Friday we pull the top Asia headlines on digital-asset regulation, cyber risk, industry moves and insurance signals — short, actionable for insurers and corporate risk teams.
1) Regulatory
Hong Kong – Stablecoin Licensing: Hong Kong will issue its first stablecoin licenses by early 2026 under its new regulatory regime, as Financial Secretary Paul Chan announced at Davos . This move shifts Hong Kong’s crypto framework from legislation to implementation, aiming to balance fintech innovation with prudent investor protection .
South Korea – Crypto Investment Ban Lifted: South Korea ended a nine-year ban on corporate crypto investing, allowing listed companies and funds to allocate up to 5% of their equity capital into digital assets . Regulators will limit eligible investments to the top 20 cryptocurrencies on licensed exchanges, part of a 2026 growth strategy to safely integrate institutional money previously kept out of the market .
2) Hacking & Physical Risks
Cross-Chain Exploit Halts Saga Network: A cross-chain exploit forced Layer-1 project Saga to halt its SagaEVM sidechain after attackers drained nearly $7 million in USDC and bridged the funds off-network . The team is working with exchanges and bridge operators to blacklist the hacker’s address, illustrating how DeFi breaches can trigger urgent industry-wide containment efforts .
DeFi Oracle Attack on Makina Finance: Decentralized platform Makina Financesuffered a $5 million loss when an attacker used a 280 million USDC flash loan to manipulate its price oracle . The exploiter drained a stablecoin pool (much of which was intercepted by an MEV bot) and exposed continued vulnerabilities even in “institutional-grade” DeFi protocols
3) Industry & Markets
MicroStrategy’s $2.13 B Bitcoin Buy: Bitcoin heavyweight MicroStrategy (trading under “Strategy”) disclosed it bought about $2.13 billion worth of Bitcoin (~22,300 BTC) in just eight days (Jan 12–19) . The purchase brings its holdings to roughly 709,715 BTC and signals unwavering institutional demand, even as crypto-market volatility has pressured the firm’s stock price .
ICE Launches 24/7 Tokenized Trading: Intercontinental Exchange (parent of the NYSE) unveiled a new platform for 24/7 trading and on-chain settlement of tokenized U.S. securities . The system — which uses stablecoin-based funding and is pending regulatory approval — aims to leverage blockchain tech to streamline equity markets and meet growing demand for round-the-clock trading .
4) Insurance Spotlight
Sidecar Capacity Boost in Asia: Global insurer MS Amlin expanded its Phoenix Re sidecar to a record $115 million for the 2026 underwriting year, raising new investor funds via a Singapore-based vehicle . Surpassing the $100 million mark reflects strong performance and rising investor appetite for Asian catastrophe risks, which in turn bolsters reinsurance capacity for regional insurers .
Cyber Reinsurance Market Softens: January 1 cyber reinsurance renewals saw abundant capacity and falling prices, tilting the market in favor of buyers . With 2026 supply outpacing demand, loss-free programs achieved rate reductions of 15–25%, even as underwriters continue to emphasize robust cyber risk controls and clarity in coverage terms .
