Market
Indonesia Roadmap, Thai Sandbox, and More

Asia’s crypto industry is witnessing profound changes as governments across the region implement stricter regulatory measures while fostering innovation.
Key developments in India, Thailand, Japan, Hong Kong, and Indonesia highlight a collective move toward a more structured approach to digital assets, with each country overcoming its unique challenges and opportunities.
Tax Tensions: Binance Hit with $86 Million Demand in India
India’s Directorate General of GST Intelligence (DCGI) has issued a notice to Binance, demanding $86 million in Goods and Services Tax (GST) payments. The DCGI alleges that Binance, classified as an online information database access or retrieval (OIDAR) service provider, has failed to remit the appropriate taxes.
The company collected fees from Indian customers trading virtual digital assets but did not deposit the taxes. Local media reported that Binance’s earnings from transaction fees charged to Indian customers were substantial, reportedly amounting to at least $476 million. The fees were credited to Nest Services Limited, a Binance Group Company based in Seychelles.
Read more: The State of Crypto Regulation in India
Japan Takes Cautious Stance on Crypto ETFs
Japan continues to take a measured approach to the crypto market, particularly concerning the approval of crypto-linked exchange-traded funds (ETFs). Hideki Ito, commissioner of Japan’s Financial Services Agency (FSA), emphasized the need for careful consideration before following other markets like the US and Hong Kong in approving these financial products.
Despite Japan’s technological openness, the FSA remains cautious, prioritizing investor protection over rapid market expansion. This approach could delay the launch of crypto ETFs, even as major financial institutions like SBI Holdings prepare for potential market entry.
In late July, SBI Holdings partnered with US investment firm Franklin Templeton to establish a digital asset management company in Japan to launch crypto ETF products as soon as the FSA approves. Local media reports noted that SBI Holdings will hold a 51% majority stake, and Franklin Templeton will own the remaining shares.
Sota Watanabe, CEO of Startale and Founder of Astar Foundation, commented on the potential of Bitcoin ETFs in Japan. He views this move could prompt serious discussions for the much-needed crypto tax reform.
“With the current disparity between securities and cryptocurrency tax rates, ETF approval could highlight the need for a more uniform approach. This reform could unlock significant investment in the crypto space, potentially leading to a major shift in market dynamics,” Watanabe elaborated to BeInCrypto.
Hong Kong’s Spot Crypto ETFs Face Tough Terrain
Hong Kong’s foray into crypto ETFs has seen mixed results, with recent data showing both inflows and outflows. According to SoSo Value’s data, the spot Bitcoin ETF in Hong Kong recorded an inflow of 69.94 BTC on August 9.
This inflow is noteworthy because it is the first time the funds have recorded an inflow after consecutive days of flows and outflows since July 19. The total net assets of these ETFs have decreased significantly from their peak of $342.16 million on July 29 to $271.21 million as of August 9.

Ethereum-based ETFs in Hong Kong have also experienced similar volatility. On August 8, these ETFs recorded an outflow of 399.09 ETH, followed by an inflow of 1,250 ETH on August 7. Similar to its Bitcoin counterparts, the total net assets of these funds have also declined from their peak.

During a panel discussion at the Foresight 2024 conference, Gary Tiu, Executive Director and Head of Regulatory Affairs at OSL, a leading Hong Kong crypto exchange, highlighted systemic issues within the market that hinder the growth of ETFs. Tiu pointed out that the market structure in Hong Kong creates challenges for ETFs to gain traction as financial instruments.
“In Hong Kong, especially when it comes to funds and structured products, typically in between the issuer and the end investors, there is a very rich layer of intermediaries—brokers, banks, private banks, retail banks, et cetera. Those intermediaries make a lot of money from distributing financial products. So, I think the incentive system in Hong Kong is one of the reasons why ETFs do have a bit of a hard time growing as a financial instrument,” Tiu said.
Indonesia’s Roadmap for Crypto Regulation from 2024 to 2028
Indonesia is taking a structured approach to regulating digital assets. The Financial Services Authority (OJK) released a detailed roadmap for 2024-2028. This roadmap outlines the phased development of regulatory frameworks and industry standards aimed at strengthening Indonesia’s position in the Asia crypto industry.
The roadmap’s initial phase focuses on building strong regulatory foundations, while subsequent phases will highlight industry growth and long-term sustainability. Notably, the OJK has also introduced a regulatory sandbox to facilitate innovation within a controlled environment, allowing businesses to test new technologies while ensuring compliance.
In addition to regulatory development, Indonesia is tightening controls on crypto marketing, particularly by influencers. The new rules, which restrict promotional activities to official channels, have sparked debate within the crypto community.
Some crypto influencers have raised their concerns that excessive regulation could stifle innovation. However, the OJK maintains that these measures are necessary to protect investors and ensure market integrity.
Thailand’s Regulatory Sandbox Paves the Way for Digital Asset Innovation
Thailand is also making strides in the Asia crypto sector with the launch of its Digital Asset Regulatory Sandbox. This initiative, led by the Securities and Exchange Commission of Thailand (SEC Thailand), aims to provide a controlled environment for the testing and development digital asset services. By offering a structured framework, the sandbox allows businesses to innovate while adhering to regulatory guidelines, ultimately fostering a more secure and dynamic market.
Participants in the sandbox, including exchanges, brokers, and fund managers, must maintain transparency and solid operational systems. Furthermore, the SEC Thailand has set a clear framework for continuous reporting and risk management, ensuring that the innovation process does not compromise investor protection.
Read more: Crypto Regulation: What Are the Benefits and Drawbacks?
The sandbox is expected to be crucial in expanding the range of digital asset services available to investors in Thailand. Businesses interested in participating can start applying from August 9, with the SEC Thailand evaluating submissions within 60 days. Approved participants will have one year to conduct their tests, possibly extending the period or concluding the experiment early, depending on the outcomes.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
3 Meme Coins to Watch For The Last Week of February 2025

DOGEai, TST, and BROCCOLI are three meme coins drawing attention for the last week of February. DOGEai, launched on Solana, is up 110% in the past seven days, positioning itself as a leading AI meme coin.
TST remains one of the most popular meme coins on the BNB chain despite a recent correction. At the same time, BROCCOLI, inspired by Binance co-founder CZ’s dog, has also seen significant volatility.
DOGEai (DOGEAI)
DOGEai is an artificial intelligence coin launched on Solana. Its market cap is now $32 million, up 82% in the last seven days. This rise has positioned DOGEai as one of the most talked-about AI meme coins in recent days.

DOGEai leverages multiple narratives, including Dogecoin’s popularity, the growing interest in DOGE (Department of Government Efficiency), and the broader AI cryptos trend. It defines itself as “an autonomous AI agent here to uncover waste and inefficiencies in government spending and policy decisions,” offering bill summaries and insights into government expenditures.
If the current uptrend continues, DOGEai could test the resistance at $0.048, with potential targets at $0.059 and $0.069. However, if a downtrend emerges, DOGEai has support at $0.030, and if that level is lost, it could drop to $0.018 or even $0.0092.
Test (TST)
TST has emerged as one of the most popular meme coins on the BNB chain, benefiting from the chain’s growing volume, which recently even surpassed Solana.
In the days following its launch, TST reached a market cap close to $500 million, then entered a strong correction phase. Its market cap has since dropped to $78 million.

If the BNB narrative gains strength again, TST could benefit as one of its most popular meme coins and may test the resistance at $0.10. A breakout above this level could push TST to $0.20 or even $0.25 if buying pressure intensifies.
However, if TST fails to regain strong upward momentum, it could test the support at $0.0719 and potentially drop to its lowest levels since February 9.
CZ’S Dog (BROCCOLI)
BROCCOLI was launched a few weeks ago after Binance co-founder CZ revealed his dog’s name, sparking a flood of BROCCOLI tokens on the market.
The largest of these tokens quickly surged to a $249 million market cap in its early days but has since dropped to $52 million.
Like TST, BROCCOLI benefited from the recent rise of the BNB ecosystem but has since entered a strong correction phase. It is down 40% in the last seven days.

If the downtrend continues, BROCCOLI could test support near $0.04, and a break below this level could push it to its lowest price since launch.
However, if the BNB ecosystem and meme coins regain traction, BROCCOLI could benefit, especially given the popularity of dog-related meme coins like Dogecoin and Shiba Inu. In this bullish scenario, BROCCOLI could rise to test the resistance at $0.113.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Ethereum Rollback Debate Intensifies After Bybit Hack

The crypto community is divided over calls for an Ethereum blockchain rollback following a massive security breach at Bybit.
On February 21, the exchange lost nearly $1.5 billion in ETH to hackers, sparking discussions about whether Ethereum should intervene to recover the stolen funds.
What is a Blockchain Rollback?
A blockchain rollback, also known as a reorganization, involves reversing confirmed transactions to restore the network to an earlier state.
This process usually happens after a major security breach or exploit. Validators must reach a consensus to discard the affected blocks, effectively erasing the malicious transactions.
Despite its potential benefits, a rollback remains a controversial and rarely used measure due to its impact on a blockchain’s trust and decentralization.
Blockchains operate on the principle of immutability, meaning transactions are expected to be final once confirmed. So, rolling back transactions challenges this principle, raising concerns about the security and reliability of the network.
Crypto Leaders Clash Over Ethereum Rollback Proposal
BitMEX co-founder Arthur Hayes has been vocal in advocating for a rollback to solve the ByBit hack. He pointed to the 2016 DAO hack, where Ethereum underwent a hard fork to recover stolen funds, as precedent.
Hayes argued that since Ethereum previously compromised on immutability, another intervention should not be off the table.
“My own view as a mega ETH bag holder is ETH stopped being money in 2016 after the DAO hack hardfork. If the community wanted to do it again, I would support it because we already voted no on immutability in 2016,” Hayes said.
JAN3 CEO Samson Mow also supported the rollback, stating it could prevent North Korea from using the stolen funds to fund its nuclear weapons program.
However, not everyone agrees. Pseudonymous crypto trader Borovik strongly opposed the idea, arguing that a rollback would jeopardize Ethereum’s credibility and neutrality.
Bitcoin advocate Jimmy Song also dismissed the possibility, stating that the Bybit hack cannot be compared to the 2016 DAO exploit. Song emphasized that the DAO hack allowed for a 30-day intervention, whereas the Bybit attack is already finalized, making a rollback impractical.
“I know people are expecting the Ethereum Foundation to roll back the chain, but I suspect it’s already too much of a mess to do it cleanly,” Song added.
Meanwhile, Ethereum supporter Adriano Feria introduced an alternative perspective. He argued that Bybit could have avoided this situation by using a Layer 2 (L2) solution with conditional reversible transactions.
According to Feria, blockchain technology needs some form of reversibility to ensure real-world adoption.
“Whether through social recovery or another pre-determined, immutable, and transparent decision-making process, real-world mass adoption will not work without reversible transactions. Without this capability, transactional activity will inevitably gravitate toward TradFi systems that already provide it,” Feria stated.
This debate raises a fundamental question for Ethereum: should it prioritize immutability or intervene in extreme cases?
While some see a rollback as a necessary response to an unprecedented loss, others fear it could undermine the core principles of decentralization. Ethereum’s next steps will likely shape its long-term credibility and trust within the crypto space.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Berachain (BERA) Falls 15% After Recent Rally Surge

Berachain (BERA) is down almost 15% in the last 24 hours, with its market cap now at $778 million, although its price remains up nearly 20% over the past seven days. This sharp pullback comes after a strong rally between February 18 and February 20, when BERA reached levels above $8.5.
BERA’s Relative Strength Index (RSI) has dropped from overbought levels, signaling a loss of bullish momentum, while its Directional Movement Index (DMI) shows growing bearish pressure. As BERA navigates this correction phase, it faces key support at $6.1, with potential resistance levels at $8.5, $9.1, and $10 if bullish momentum returns.
BERA RSI Is Dropping Steadily After Touching Overbought Levels
Berachain Relative Strength Index (RSI) is currently at 50.6, down sharply from 86.7 just two days ago when its price surged above $8.5. RSI is a momentum oscillator that measures the speed and change of price movements, ranging from 0 to 100.
It is commonly used to identify overbought or oversold conditions, with values above 70 indicating overbought levels and below 30 suggesting oversold territory.
The steep decline in BERA’s RSI reflects a significant loss of bullish momentum after reaching overbought levels above 86, where a correction was likely.

With RSI now at 50.6, BERA is in a neutral zone, suggesting that buying and selling pressures are relatively balanced.
This could indicate a period of consolidation as the market digests recent gains. If RSI continues to decline below 50, it could signal increasing bearish momentum. This could lead to a further price drop for BERA.
Conversely, if RSI stabilizes and begins to rise, it could suggest renewed buying interest and a potential recovery in Berachain price.
BERA DMI Chart Shows Buyers Are Losing Control
Berachain Directional Movement Index (DMI) chart shows its Average Directional Index (ADX) currently at 50.5, after peaking at 60.2 yesterday, up from just 13.3 five days ago. ADX is an indicator used to measure the strength of a trend, regardless of its direction, ranging from 0 to 100.
Values above 25 typically indicate a strong trend, while values below 20 suggest a weak or sideways market. The sharp rise in ADX reflects a significant increase in trend strength, confirming that BERA has been experiencing strong directional movement recently.

Meanwhile, BERA’s +DI is at 24.4, down from 48.4 two days ago, indicating weakening bullish momentum. Meanwhile, -DI has risen to 15.1 from 4.9, suggesting growing bearish pressure.
This shift signals that the bullish trend that drove prices higher is losing steam, and selling interest is beginning to increase.
If -DI continues to rise above +DI, it could indicate a bearish crossover, signaling a potential reversal or deeper correction in BERA’s price. However, if +DI stabilizes and moves upward again, it could suggest a continuation of the uptrend, albeit with reduced momentum.
Will Berachain Fall Below $6 Soon?
Berachain surged 53% between February 18 and February 20, pushing its price above $8.5 after the coin struggled following its airdrop. However, after this sharp rally, BERA entered a correction phase and is currently down almost 15% in the last 24 hours.
This pullback suggests profit-taking and a shift in market sentiment as buyers hesitate to push prices higher. If the downtrend continues, BERA could soon test the support at $6.1, and a break below this level could lead to a further decline towards $5.48, reflecting increased selling pressure.

On the other hand, if Berachain can regain its bullish momentum from a few days ago, it could rise above $8.5 again, potentially testing the next resistance levels at $9.1 or even $10.
To confirm this bullish scenario, Berachain would need to see renewed buying interest and strong upward momentum. If buyers can defend key support levels and push the price above resistance zones, it could indicate the continuation of the uptrend.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
-
Altcoin18 hours ago
BTC, ETH Drop As $566M Liquidated Amid Bybit Hack
-
Market17 hours ago
FTX Survey Shows Crypto ReInvestment and Possible Bias
-
Ethereum16 hours ago
Grayscale’s Ethereum ETF On The Brink Of Major Change With NYSE’s Staking Proposal
-
Market22 hours ago
Franklin Templeton Files For Solana Staking ETF
-
Altcoin22 hours ago
Will XRP Price Hit $300 If US SEC Calls Off Ripple Lawsuit?
-
Market21 hours ago
SEC Ends OpenSea Investigation, No NFT Securities Action
-
Altcoin21 hours ago
Analyst Identifies Key Support For Cardano Price Bullish Momentum
-
Market20 hours ago
Solana Price Shows Recovery Signs as Bearish Pressure Eases