Welcome back to Continuum Risk Update. Every Friday we pull the top Asia headlines on digital-asset regulation, cyber risk, industry moves and insurance signals, with concise takeaways and practical actions for insurers and corporate risk teams.
📋 REGULATORY
1. Taiwan passes its first crypto and stablecoin law. All VASPs now need FSC approval to operate, and stablecoin issuers must hold reserves in trust and submit to regular audits.
https://bit.ly/4gq6nuq
2. South Korea shifts Polymarket scrutiny from users to the platform. The country’s media review body is giving Polymarket a chance to respond before issuing a corrective order over gambling concerns.
https://bit.ly/4pd1rvf
🔒 HACKING & PHYSICAL RISKS
3. BonkDAO drained of $20M via malicious governance proposal on Solana. An attacker pushed through a rogue on-chain vote to empty the project’s treasury; BONK dropped 7% on the news.
https://bit.ly/3Rvjmki
4. CertiK: Crypto hacks fell 47% in H1 but the ecosystem is not safer. North Korean hackers drove a 59% quarter-on-quarter spike in Q2, and total incident numbers more than doubled year-on-year.
https://bit.ly/44lJXDm
📊 INDUSTRY & MARKETS
5. Japan’s collapsing yen is pushing corporate treasuries into Bitcoin and XRP. SBI VC Trade says corporate crypto demand is climbing as the yen trades near a 40-year low, with registered accounts doubling to 2 million in 12 months.
https://bit.ly/4vjijSj
6. SBI Holdings leads a $76M Series C for institutional crypto exchange EDX Markets. SBI is building out the full institutional crypto stack in Asia, having also acquired Bitbank and launched yen and dollar stablecoins in Japan this year.
https://bit.ly/4vnRoou
🔍 INSURANCE SPOTLIGHT
7. Stablecoin volumes hit a record $1.79T in June even as market cap fell to its lowest since TerraUSD. High velocity against shrinking reserves points to concentration risk that digital asset insurers should be watching.
https://bit.ly/4wG93cl
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