Regulatory Shakeups Hit Asia: South Korea Imposes Crypto Tax, Russia Bans Mining

South Korea's government has confirmed plans to introduce a 22% tax on cryptocurrency gains exceeding 2.5 million won, starting in 2027.

This move is seen as providing regulatory clarity for markets, which could positively impact Bitcoin's price expectations in the long term.

In contrast, Russia has banned crypto mining in Moscow and surrounding areas until 2032, suggesting a tightening regulatory environment that may reduce global mining operations.

Binance has expanded its operations in the Philippines by acquiring a sandbox license, while Uzbekistan is creating a tax-free crypto mining zone in Karakalpakstan with mining income exempt until 2035.