Bitcoin broke through $79,000 on OKX, marking a 9.09% daily gain and reaching $79,058. The surge follows a breakout above the 200-day moving average, a key long-term trend indicator. Trading volume across Asian exchanges exploded, with Korean exchange Upbit seeing a 223.8% spike in 24-hour volume to $1.67 billion.

South Korean lawmakers introduced amendments to the Specific Financial Information Act that would grant the Financial Intelligence Unit (FIU) direct enforcement authority over unregistered virtual asset service providers. The proposal allows anyone to report violations, and the FIU could investigate and refer cases to prosecutors. Currently, the FIU lacks direct tools to penalize unregistered operators, hindering anti-money laundering efforts.

Shinhan Asset Management signed a memorandum of understanding with the Solana Foundation, Etherfuse, and Orca to develop a Korean won-denominated tokenized fund proof-of-concept. Modeled after BlackRock's BUIDL, the fund would allow overseas institutional investors to purchase Shinhan-managed Korean short-term bond funds via tokenized units. The pilot will cover KYC/AML, security audits, blockchain operations, compliance, and on-chain liquidity design. Shinhan aims to lead Korea's digital financial product market ahead of the country's STO framework taking effect in February 2027.

Changpeng Zhao called for tokenizing all assets, arguing it is the best way for countries to attract foreign direct investment and for companies to sell shares globally. He acknowledged liquidity fragmentation across blockchains but argued interoperability could mitigate it. CZ highlighted BNB Chain data showing 776,000 RWA holders, a 370% increase in 30 days, underscoring the tokenization surge in Asia.

South Korea's largest exchange, Upbit, recorded a 223.8% jump in daily trading volume to $1.67 billion, according to The Block and CoinGecko. The surge came as Bitcoin held above $75,000 for the first time in over three months. Korean retail investors have historically driven outsized volume during sharp rallies, with the 'kimchi premium' often emerging. This spike underscores Asia's renewed risk appetite amid a global liquidity backdrop.

Bitcoin is on the verge of forming a golden cross, with the 50-day moving average ($63,976) rapidly approaching the 200-day MA ($69,005). A confirmed cross is widely viewed as a long-term bullish signal. Bitcoin has traded below its 200-day MA since October 2025, and a sustained break above could mark a transition from bear to bull market. Analysts note that historical golden crosses have been followed by median one-year gains of 155%.

PayFi tokens led the market's second consecutive day of gains, surging 11.46% in 24 hours, according to SoSoValue. XRP rose 16.16%, while Telcoin (TEL) gained 13.49%. Bitcoin climbed 8.26% to above $75,000, and Ethereum advanced 4.67% past $2,300. The PayFi rally reflects growing Asian interest in payment-focused crypto assets as digital finance adoption accelerates.

Strategy (formerly MicroStrategy) saw its Bitcoin holdings swing to an unrealized profit of $1.276 billion as BTC briefly touched $76,903. The company holds 840,447 BTC at an average cost of $75,385. The rally also boosted other institutional holders, with BitMine's ETH losses narrowing significantly. The milestone highlights how a single-digit percentage move in Bitcoin can translate into billions in book value for large corporate holders.

The New York Times reported that two Binance employees were recently detained in the UAE as part of an investigation into potential financial crimes linked to platform flows. A mid-level employee was held overnight at Sharjah airport, and a Dubai subsidiary executive was questioned in July. Binance stated that the staff were never targets and were released after providing standard statements. The incident underscores regulatory scrutiny facing Binance's operations in the Middle East.

Bitcoin mining pool Poolin established a creditor committee and engaged law firms to oversee its Chapter 11 bankruptcy proceedings. Creditors can now file claims via Verita Global without retaining their own lawyers. Poolin plans to sell its Texas mining facilities for $52 million. The move marks a key step in resolving one of Asia's largest crypto mining collapses, which left thousands of creditors worldwide.