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Good morning,

Welcome back to Strait Up, our weekly newsletter that makes sense of what’s going on in Southeast Asia. 

It’s a week full of crypto-related news. We obviously need to talk about the US$600 million lost by Axie Infinity, the popular play-to-earn game powered by blockchain technology. 

But also, we’re looking at Indonesia’s plan to tax crypto assets and how more regulators in Southeast Asia are taking a not-too-welcoming stance on cryptocurrency. 

Let’s dive in.

Featured image credit: Yannick van der Schot/Unsplash

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