Indonesia is considering adding Bitcoin to its national reserves, with support from the Vice President’s office and other key parties. The proposal suggests allocating about $18.3 billion to Bitcoin through the Daya Anagata Nusantara Investment Management Agency (BPI Danantara).
Proponents say this could help reduce national debt and diversify reserves.
Bitcoin advocates recently presented to the Vice President’s office, proposing Bitcoin mining as part of the national reserve strategy. Discussions focused on Bitcoin’s potential to strengthen Indonesia’s economy long-term, aligning with milestones like the country’s centenary of independence.
BPI Danantara, launched in February 2025, manages state assets independently to boost development. The Bitcoin allocation could secure up to 200,000 BTC, generating profits to ease debt pressures.
If approved, Indonesia would be among the first Southeast Asian countries to include Bitcoin in its sovereign wealth fund, marking a significant step in the region’s crypto landscape.
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The Philippines SEC has warned 10 major crypto exchanges, including OKX, Bybit, KuCoin, and Kraken, for operating without proper authorisation under new regulations. These platforms continue offering services to Filipino users despite lacking official registration, putting investors at risk.
The SEC noted that other unregistered exchanges may also be operating illegally. It plans to take enforcement actions such as cease and desist orders and criminal complaints.
The regulator will collaborate with Google, Apple, and Meta to block unauthorised marketing and app availability.
Similar crackdowns are underway across Southeast Asia. Thailand recently ordered the blocking offshore exchanges like Bybit and OKX, urging investors to withdraw funds. Indonesia has increased income tax rates on foreign crypto platforms, raising costs for offshore trading.
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China’s Ministry of State Security has warned of foreign attempts to collect sensitive biometric data via crypto schemes. The ministry warned that foreign agents are illegally harvesting iris scans and facial data, risking personal privacy and national security.
The advisory noted recent cases in which foreign intelligence services exploited biometric technologies to spy on individuals within China. Cryptocurrencies incentivised people worldwide to submit iris scans, which were sent overseas.
Although no specific companies were named, the description resembled the approach of the crypto firm World, formerly known as Worldcoin.
Biometric identification methods have proliferated across many sectors due to their accuracy and convenience. However, the ministry stressed the vulnerability of such systems to data breaches and misuse.
Iris patterns, unique and challenging to replicate, are prized by malicious actors.
Citizens are urged to remain cautious, carefully review privacy policies, and question how their biometric information is handled.
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Brazil’s House of Representatives will convene on 20 August to evaluate a bill proposing the creation of a national Bitcoin reserve. If approved, the legislation would allow up to 5% of the nation’s treasury reserves, equivalent to nearly $15 billion, to be invested in Bitcoin.
The hearing will involve several key institutions, including the Central Bank of Brazil, the Ministry of Finance, a crypto advocacy group, and financial sector stakeholders.
Supporters of the bill claim that a Bitcoin reserve would shield Brazil’s foreign reserves from currency volatility and geopolitical threats. They also argue it would encourage broader adoption of blockchain technologies.
The proposal follows similar global movements. India and Sweden are also rumoured to be exploring similar strategies.
Reactions in Brazil are mixed. While Vice President Alckmin’s chief of staff praised the initiative, calling Bitcoin’ digital gold,’ officials at the Central Bank have cautioned against integrating crypto into official reserves.
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The crackdown follows the discovery that organised criminal groups are operating scam centres across Southeast Asia, hacking WhatsApp accounts or adding users to group chats to lure victims into fake investment schemes and other types of fraud.
In one case, WhatsApp, Meta, and OpenAI collaborated to disrupt a Cambodian cybercrime group that used ChatGPT to generate fake instructions for a rent-a-scooter pyramid scheme.
Victims were enticed with offers of cash for social media engagement before being moved to private chats and pressured to make upfront payments via cryptocurrency platforms.
Meta warned that these scams often stem from well-organised networks in Southeast Asia, some exploiting forced labour. Authorities continue to urge the public to remain vigilant, enable features such as WhatsApp’s two-step verification, and be wary of suspicious or unsolicited messages.
It should be mentioned that these scams have also drawn political attention in the USA. Namely, US Senator Maggie Hassan has urged SpaceX CEO Elon Musk to act against transnational criminal groups in Southeast Asia that use Starlink satellite internet to run massive online fraud schemes targeting Americans.
Despite SpaceX’s policies allowing service termination for fraud, Starlink remains active in regions where these scams, often linked to forced labour and human trafficking, operate.
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On 3 August, social media platforms buzzed with claims that China had introduced a fresh ban on all crypto assets, including trading, mining, and related services. These reports reignited a familiar narrative, as similar rumours have emerged repeatedly over recent years.
Many users quickly reminded the community that China imposed a comprehensive ban on crypto transactions and mining back in September 2021.
The 2021 ban was driven by concerns over energy consumption linked to mining and the use of cryptocurrencies in illegal activities and capital flight. Although official crackdowns pushed many mining operations abroad, illegal activities persist within China.
Despite these facts, there has been no new official ban announced since then.
Rumours about China’s crypto regulations often cause strong reactions in the global market, given China’s large economic influence. However, many traders outside China do not verify these reports, which allows false information to spread rapidly.
Social media engagement and sensationalism continue to fuel the cycle of recurring ban rumours.
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Qatar Financial Centre calls for greater international coordination on tokenisation regulation, revealing plans to integrate real-world asset (RWA) tokenisation into the investment sector. The announcement came during the Digital Assets Policy Roundtable at the Qatar Economic Forum.
The report, created with Global Stratalogues and the Global Blockchain Business Council, urges global regulatory alignment, collaboration, and infrastructure support. It argues that tokenisation can boost financial inclusion when backed by strong policies.
Although Qatar restricts cryptocurrencies, the report confirms stablecoins will feature in the country’s strategy, focusing on regulated use in private equity, Islamic finance, and venture capital. The regulatory sandbox was also recognised globally.
Qatar is working with firms like R3, SettleMint, and The Hashgraph Association to launch a $50 million Digital Assets Venture Studio. Meanwhile, regional progress includes the first MENA-regulated tokenised money market fund from QNB (Singapore) and DMZ Finance.
RWAs are increasingly viewed as a bridge between traditional and decentralised finance, with their value expected to hit $19 trillion by 2033.
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The VINE coin experienced a notable surge following Elon Musk’s announcement about restoring access to the old Vine video archive. Musk’s post about restoring Vine sparked renewed interest, boosting the token by over 8% in a day.
Musk’s push to revive Vine ties into a broader vision for X, his rebranded social media platform. The app aims to become an AI-driven ‘super-app’ with features including cryptocurrency-powered payments.
Other tokens linked to Musk, such as Dogecoin and Grok-related coins, have also enjoyed gains following his recent social media activity.
Vine, once a pioneering platform for viral six-second videos, was discontinued in 2017 but remains fondly remembered. Though launched independently, the VINE coin has gained from speculation linked to Musk’s revival plans.
Market watchers expect Musk’s influence could fuel further altcoin momentum linked to the app’s comeback and his crypto endorsements.
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Cash will stay central to the eurozone’s financial system, the ECB confirmed, as work on the digital euro moves forward. A board member Piero Cipollone said euro banknotes and coins will be supplemented, not replaced, by a digital version to protect payment autonomy in Europe.
The ECB’s commitment follows a surge in the use of private digital currencies and stablecoins, which are increasingly used for daily transactions and international transfers. They see the digital euro as a secure answer to the rising influence of foreign stablecoins, especially US dollar-backed ones.
Despite the digital push, Cipollone stressed cash is vital, especially in crises when digital systems might fail. The ECB wants Europeans to have access to physical cash and digital euros alike, all with legal tender status and full usability.
Meanwhile, the ECB has acknowledged lukewarm interest from the public. A March study revealed Europeans were reluctant to allocate significant funds to a digital euro.
Separately, ECB adviser Jürgen Schaaf warned that Europe must implement unified regulation to avoid dominance by US dollar-backed stablecoins and preserve monetary sovereignty.
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The UK’s designation of data centres as Critical National Infrastructure highlights their growing strategic importance, yet a pressing concern remains over vulnerabilities in their OT and IoT systems. While IT security often receives significant investment, the same cannot be said for other technologies.
Attackers increasingly target these overlooked systems, gaining access through insecure devices such as IP cameras and biometric scanners. Many of these operate on outdated firmware and lack even basic protections, making them ideal footholds for malicious actors.
There have already been known breaches, with OT systems used in botnet activity and crypto mining, often without detection. These attacks not only compromise security in the UK but can destabilise infrastructure by overloading resources or bypassing safeguards.
Addressing these threats requires full visibility across all connected systems, with real-time monitoring, wireless traffic analysis, and network segmentation. Experts urge data centre operators to act now, not in response to a breach, but to prevent one entirely.
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