Recent changes in the crypto market across Southeast Asia highlight shifting investor interests and increased regulatory measures. South Korean investors are actively selling major tech company shares, while Vietnam and Thailand are implementing new rules concerning cryptocurrencies.
Changes in South Korean Investors' Interests
South Korean retail investors have begun selling shares in major companies like Tesla and Alphabet, redirecting their investments toward Ethereum-related stocks. According to Korea Securities Depository, approximately 1 trillion won ($721.6 million) of Tesla shares were sold off in the last month. Similarly, Alphabet and Apple shares experienced significant sales, with Alphabet seeing net sales of about 230 billion won ($166 million) and Apple 300 billion won ($216 million).
Locally known as 'seohak ants,' these investors represent retail participants focused on foreign stocks. They have shown a strong interest in crypto-related companies, investing around $269 million in firms like BitMine, which specializes in Bitcoin mining and holds the largest stake of Ethereum among publicly listed companies.
Launch of Crypto Exchange in Vietnam
Vietnam’s Military Bank (MB Bank), founded under the Ministry of National Defense, plans to launch its own regulated cryptocurrency exchange. The initiative will be backed technically by South Korean company Dunamu, operator of Upbit Exchange. This step could establish Vietnam’s first legally compliant crypto exchange as the country advances toward regulatory frameworks for cryptocurrencies following recent legislation that recognizes virtual and crypto assets.
Regulatory Tightening in Thailand
The Thai Securities and Exchange Commission has introduced stringent regulations targeting 'mule accounts' — accounts used in financial scams and money laundering. Crypto firms must now enforce Know Your Customer (KYC) protocols, monitor suspicious accounts, and collaborate with law enforcement. These measures place shared responsibility on crypto exchanges and related entities to prevent misuse, with significant penalties for violations, indicating Thailand’s commitment to reducing tech-related crime within its financial ecosystem.
Overall, significant changes are occurring in Southeast Asia with respect to investment preferences and the implementation of new regulatory norms, emphasizing the growing interest and attention towards cryptocurrencies amid global economic shifts.
