SOL ETF, Crypto PM, and Russian Reforms,Asia’s Bold

The Hong Kong Securities and Futures Commission (SFC) has approved the first Solana (SOL) spot ETF in the region. Issued by ChinaAMC (Hong Kong), the fund will begin trading on the Hong Kong Stock Exchange (HKEX) on October 27 under the ticker 03460, with a 1% management fee.

This is the third crypto spot ETF approved in Hong Kong, following Bitcoin and Ethereum. It is also the first SOL spot ETF in Asia, offering new access to institutional investors tracking Solanas market performance.

Kyrgyzstan and Russia Expand Crypto Use

Kyrgyzstan is preparing to issue a national stablecoin on the BNB Chain, according to a post by Binance founder CZ. The project includes plans for a government-linked CBDC, a national crypto reserve that includes BNB, and localized support for Binances platform.

In Russia, Finance Minister Anton Siluanov confirmed an agreement with the Central Bank to support crypto use in foreign trade. The Ministry is working on legislative steps to formalize the process. Siluanov said,

Enforcement Actions Across Southeast Asia

In Thailand, regulators are investigating World, a digital ID platform formerly known as Worldcoin. Officials from the Securities and Exchange Commission and Cyber Crime Bureau accused the company of operating without a license. World responded by stating, “We only distribute tokens where local laws permit.”

Singapores Monetary Authority has launched a review of DW Capital Holdings, a family office linked to Chen Zhi. The office is under scrutiny for activities conducted under the MAS 13X scheme. Assets under management reportedly include wine, yachts, and automotive ventures.

Political and Institutional Movement in Japan and Hong Kong

Sanae Takaichi, Japans newly elected prime minister, has previously supported the acceptance of cryptocurrency donations. During her time in public office, she said that donations in digital assets were permitted under existing laws.

Standard Chartered Hong Kong is preparing to offer virtual asset ETF trading. The service is scheduled to launch in November. A bank representative noted,