DAT panic dumps 73,000 ETH, India’s crypto tax stays: Asia Express

CoinTelegraph

by Yohan Yun

February 2, 2026

AI-Generated Deep Dive Summary

The cryptocurrency markets in Asia have seen significant developments recently, with major players making headlines. Trend Research, a prominent Ethereum (ETH) whale linked to Yi Lihua, founder of Liquid Capital, has dumped over 73,000 ETH, marking a shift in their strategy after accumulating over 651,000 ETH by late January. This move came as the company faced pressure from market conditions and leveraged positions, leading to a series of sales on platforms like Binance to repay DeFi loans. Yi admitted that turning bullish on ETH too early was a mistake, as prices dropped below $2,200 despite their belief in Ethereum's undervaluation compared to Bitcoin (BTC). Meanwhile, India’s crypto tax policies remain unchanged, leaving investors frustrated. The government rejected calls for tax reforms in the 2026 Union Budget, maintaining its strict 30% flat tax on crypto gains and a controversial 1% TDS on transactions. Industry leaders argue that these rules are stifling growth and driving talent overseas, while the finance minister proposed stricter penalties for non-compliance, further tightening the regulatory environment. In South Korea, regulators are taking a proactive approach to market manipulation by leveraging artificial intelligence. The Financial Supervisory Service (FSS) has upgraded its Virtual Assets Intelligence System for Trading Analysis (VISTA), which uses advanced algorithms to detect price manipulation down to the second. This marks a significant step in enforcing crypto regulations and sets a precedent for other nations looking to combat market abuse through technology. These developments highlight the challenges and opportunities facing the global crypto industry. Trend Research’s ETH dump underscores the risks of leveraging DeFi platforms and the volatility inherent in cryptocurrency markets. India’s rigid tax policies continue to hinder growth, while South Korea’s AI-driven regulatory framework offers a model for effective oversight. For investors and businesses in Asia, these trends emphasize the importance of adapting to evolving market conditions and regulatory frameworks.

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Originally published on CoinTelegraph on 2/2/2026