Hong Kong is expediting its regulatory framework for virtual assets and stablecoins, aiming to enhance oversight and investor protection. Meanwhile, Russia has announced that its comprehensive crypto regulations will come into effect in 2027, providing a long-term roadmap for the industry. In South Korea, authorities are contemplating allowing financial institutions to issue virtual assets, potentially broadening the market's scope. Kazakhstan is taking steps to build national crypto reserves using assets seized from illegal activities, reflecting a strategic approach to digital currency management. Additionally, Japan has initiated a public consultation to gather input on proposed regulations for cryptocurrencies and payment systems, signaling a proactive stance in shaping its digital economy.