India is set to introduce a rupee-backed stablecoin, ARC, in the first quarter of 2026. Developed by Polygon and Anq, the stablecoin aims to facilitate smart payments and remittances while adhering to foreign exchange regulations. This announcement follows the dismantling of a $62 million crypto money laundering network involving 27 exchanges, including Coin DCX and WazirX, due to inadequate KYC checks. In Japan, the government has reduced the crypto tax rate to 20% and reclassified Bitcoin as a financial product. This move comes with the introduction of stricter regulations and insider trading rules to better govern the crypto market. Meanwhile, South Korea's largest crypto exchange, Upbit, has been acquired by Naver. The tech giant plans to integrate crypto services and launch a won-backed stablecoin, expanding its footprint in the digital currency space.