Singapore flags Hyperliquid; Indonesia certifies crypto influencers
In brief
- Singapore's MAS added Hyperliquid to its Investor Alert List as a consumer protection measure.
- Indonesia requires crypto influencers to certify and recommend only authorized exchange assets.
- South Korea fined Bithumb $136,000 for unauthorized overseas user data transfers.
- Japan's SBI Holdings acquiring Bitbank for 46.7 billion yen, closing by October.
Singapore's Alert Expands
Hyperliquid joins Bybit, KuCoin, and Bitget on Singapore's list. MAS added Bybit on June 17, and the list has grown since. Hyperliquid pushed back, saying it's never claimed MAS authorization and that nothing about its permissionless infrastructure has changed. The statement suggests the alert came as a surprise to the platform.
The Investor Alert List serves a narrow purpose. It identifies entities that may be wrongly perceived as licensed or regulated by MAS. Inclusion doesn't mean the regulator thinks the platform is breaking the law—it's a clarification tool, not a punishment.
Indonesia's Influencer Crackdown
Indonesia's Financial Services Authority introduced certification requirements for influencers recommending crypto under Regulation No. 6 of 2026, announced Wednesday. The move tightens rules on who can promote digital assets to the public.
Certified influencers face real constraints. They may recommend only digital assets listed on authorized exchanges, and any service provider they recommend must also be licensed. Indonesia joins Australia, the United Kingdom, and the Philippines in tightening oversight of crypto marketing by social media personalities.
Enforcement Across the Region
South Korea's Personal Information Protection Commission ordered Bithumb to pay $136,000 for breaching data protection rules. The exchange transferred user information overseas without separate consent. Between September and November 2025, Bithumb shared Tether order books with BingX despite consent only to share with Stellar, and sent user data to 13 overseas exchanges total.
Japan's SBI Holdings is moving on a different front—acquisition. SBI signed agreements to acquire full control of Bitbank for 46.7 billion yen ($289 million). The deal is expected to close around October pending regulatory approval. Bitbank's trading volume has stayed below $50 million daily for most of the past four months, with BTC/JPY dominating at 39.5%. Combining Bitbank with SBI VC Trade would give the group roughly 1.1 trillion yen in assets under custody and about 2.92 million crypto accounts—ranking first among Japanese exchanges.
Stablecoin Settlement
Chainlink joined a working group with European and South Korean banking organizations to explore stablecoins for foreign exchange settlement. The initiative signals growing institutional interest in crypto infrastructure for traditional banking use cases.
