South Korea's Ministry of Economy and Finance has cemented its 2026 tax revision plan, which notably omits any further postponement of the crypto gains tax. If passed by the National Assembly, profits from virtual asset trading exceeding 2.5 million won will be subject to a 22% tax starting next year, with the first filing due in May 2028. The levy has already been delayed three times, and opposition parties have introduced a bill to abolish it, facing strong pushback amid the current market downturn.

India's Central Board of Direct Taxes has revised its global tax reporting framework, extending the Foreign Account Tax Compliance Act and Common Reporting Standard to include specified crypto assets, central bank digital currencies, and digital currency products. The updated rules tighten due diligence for financial institutions and require enhanced scrutiny of high-value accounts with balances over $1 million, covering banks, mutual funds, insurers, custodians, and other investment entities.

Japanese convenience store giant Lawson will conduct the country's first point-of-sale stablecoin payment trial at two Tokyo stores on August 6 and 17. The experiment will use JPYC, USDC, and USDT through HashPort Wallet and MetaMask, with settlement handled by Canal Payment Service's PAYTREE multi-code gateway, eliminating the need for dedicated payment terminals.

China Securities Regulatory Commission Chairman Wu Qing announced in Hong Kong that the commission will deepen bilateral cooperation with Hong Kong regulators, including policy coordination on artificial intelligence and blockchain. The initiative aims to promote sustainable information disclosure pilots among listed companies, align international rules, and elevate China's influence in global financial governance.

Retail investor participation in South Korea's KOSPI market has tumbled to about 31.5% in July, down sharply from 48.1% in January, as volatile markets erode sentiment. Even minor index rebounds now trigger selling as investors rush to recover principal, accelerating capital outflows. Since June, foreign investors have overtaken retail as the dominant force, accounting for roughly 38% to 39% of KOSPI trading volume.

Trading volumes in leveraged ETFs tied to South Korea's chip giants have collapsed following regulatory measures to curb speculative demand. A KODEX ETF tracking SK Hynix saw volume drop to 59 million shares, the lowest since June 4, while a similar Samsung Electronics ETF hit its lowest since launch. An NH Investment & Securities analyst noted that the speculative leverage bubble in major tech stocks has been suppressed from both directions, as high cash requirements for new purchases effectively ended retail leveraged trading.

South Korea's Financial Services Commission did not conduct stress tests on individual leveraged ETFs before granting approval, nor did it simulate the market impact of major declines in core weights like Samsung Electronics and SK Hynix, according to a lawmaker's office. The FSC confirmed that no independent or external stress tests were performed, raising questions about the oversight of products recently blamed for amplifying market volatility.

Altcoin trading volume on Binance has climbed to 60% of total exchange activity, while Bitcoin accounts for just 22% and Ethereum 18%, a sharp reversal from May when Bitcoin dominated nearly 40%. CryptoQuant analysts note that Bitcoin spot volumes have sunk to levels last seen in the late 2023 bear market, with investors rotating into altcoins to chase rebound potential after deeper corrections, though the strategy carries high risk.

China's stock market staged a strong rebound, led by the ChiNext board surging 5.64% on turnover of 2.21 trillion yuan. Over 3,600 stocks rose, with more than 100 hitting the daily limit. Computing rental, CPO, PCB, and semiconductor equipment sectors rallied, while AI application stocks remained active. The move reflects renewed appetite for tech names after a prolonged slump.

Digital asset brokerage FalconX has laid off 10% of its workforce as it navigates a prolonged crypto downturn, with about half of its Singapore office cut. The firm is pivoting to crypto derivatives that do not require licensing and is withdrawing its application to the Monetary Authority of Singapore, while maintaining its Asia-Pacific presence and expanding in Europe.

On-chain data shows the crypto investment firm Spartan Group transferred tokens worth approximately $3.92 million to Coinbase Prime, including 2.045 million PENDLE ($2.74 million), 5.377 million SYRUP ($860,000), and 813,000 ETHFI ($320,000). The move suggests a portfolio clear-out by the Asia-based venture capital firm.

Tencent's Hunyuan team has released its latest speech recognition model, Hy ASR 3.0 preview, which leverages the new Hy3 large language model to deliver more accurate, coherent transcriptions in complex real-world scenarios. The model is now available via Tencent Cloud API and has been integrated into Tencent's Yuanbao assistant, with applications spanning intelligent customer service and content understanding.

Hyperliquid has launched a Unitree (UNITREE) pre-IPO perpetual contract, trading at $74.25. The listing allows traders to speculate on the valuation of the Chinese robotics company ahead of a potential public offering, reflecting growing demand for private-market exposure on decentralized platforms.