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Thailand’s digital assets industry has been booming in recent months. According to the country’s SEC, cryptocurrency trading accounts have rocketed from 160,000 at the end of 2020 to 470,000 by the start of February. In March, the Bank of Thailand (BOT) issued policy guidelines on how stablecoins are to be regulated, but these still leave many areas of ambiguity for lawyers and businesses in the market. 
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Cryptocurrency, and in particular bitcoin, is having quite the moment. On Tuesday, it vaulted above $50,000 for the first time, continuing a rally that has seen it rise nearly 900 percent since March 2020. Reuters reported that most of the gains coming after electric carmaker Tesla, owned by the outspoken entrepreneur Elon Musk, said it had bought $1.5 billion in bitcoin. 
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India’s Supreme Court on Wednesday allowed banks to handle cryptocurrency transactions from exchanges and traders, overturning a central bank ban that dealt the thriving industry a major blow.
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Several cryptocurrency exchanges have moved closer to mainstream markets by buying listed companies, looking to raise funds and present themselves as embedded in the traditional financial services world they once spurned.
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Japan’s Financial Services Agency (FSA) on Wednesday gave the cryptocurrency industry self-regulatory status, permitting the Japan Virtual Currency Exchange Association to police and sanction exchanges for any violations.
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White & Case had advised Gumi, a Japanese mobile game publisher and developer, on its launch of a global blockchain investment fund called Gumi Cryptos.
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South Korean prosecutors raided the country’s biggest cryptocurrency exchange, Upbit, on Thursday and Friday on suspicion of fraud, Yonhap news agency reported.
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South Korea plays an outsized role in the global cryptocurrency market, and lawyers there have been busy helping companies based in the country as well as abroad with everything from raising money through a new digital currency venture, to navigating the changing, and occasionally confusing, regulatory landscape.
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South Korea’s cryptocurrency industry is anticipating much better times as the market regulator changes tack from its tough stance on the virtual coin trade, promising instead to help promote blockchain technology.