On July 2, 2026, three significant developments shaped the Asian crypto landscape: Taiwan’s passage of its first dedicated crypto service law, Binance’s entry into the Philippines through the central bank’s regulatory sandbox, and Japanese listed firm Metaplanet’s purchase of 2,823 Bitcoin. These events highlight regulatory progress, compliance-driven market access, and continued institutional accumulation.
Taiwan Passes First Crypto Service Act, Mandates VASP Licensing
Taiwan’s Legislative Yuan passed the Crypto Asset Service Act on July 2, 2026, marking the region’s first comprehensive legislation for virtual assets. The law requires all Virtual Asset Service Providers (VASPs) to obtain an operating license from the Financial Supervisory Commission (FSC). Penalties for unlicensed operations include fines up to NT$50 million (approx. US$1.56 million) and up to five years of imprisonment. Key provisions cover Anti-Money Laundering (AML), consumer protection, asset custody, and mandatory disclosures. The law transitions Taiwan from a self-regulatory framework to full statutory oversight.
Binance Enters Philippines via Regulatory Sandbox
Binance, the world’s largest crypto exchange, announced on the same day that its Philippine subsidiary received approval from the Bangko Sentral ng Pilipinas (BSP) to operate under the central bank’s regulatory sandbox. This enables Binance to offer spot trading and fiat on-ramp/off-ramp services to a limited number of local users. It marks the first time Binance has entered the Philippines as a regulated entity after prior regulatory warnings. The Philippines is one of the most active crypto markets in Southeast Asia with over 20 million users, and Binance’s entry is expected to intensify competition.
Metaplanet Adds 2,823 BTC, Total Holdings Reach Record High
Japanese listed company Metaplanet (formerly a Web3 infrastructure firm) disclosed on July 2 that it had acquired an additional 2,823 Bitcoin for approximately US$260 million (at an average price of ~US$92,000 per BTC). This brings its total holdings to about 12,000 BTC, valued at over US$1.1 billion. The purchase, funded by convertible bonds and operating cash flows, is the largest single BTC acquisition by Metaplanet since it adopted Bitcoin as a primary reserve asset in 2024. The move echoes MicroStrategy’s strategy and signals continued institutional confidence in Bitcoin despite its recent pullback to the $90K level.