Where STEPN runs in Asia

This is the STEPN Asia hub: one map, eight country guides and a set of short notes for the markets that don’t have their own page yet. If you live in Tokyo, Seoul, Taipei, Hong Kong, Hanoi, Mumbai, Manila or Jakarta, the rules that decide how you buy, hold and get taxed on Green Satoshi Token (GST) are very different from one city to the next. The map above lets you see those differences at a glance, and each country page goes deeper.

We built this section because most STEPN content online is written for a single, imaginary “global” reader. In reality, a runner in Osaka faces a tax rate that can reach about 55%, a runner in Hong Kong usually faces no capital gains tax at all, and a runner in Shanghai cannot use the app’s GPS features. Same game, same sneakers, completely different situation.

How to use the STEPN Asia map

Each country on the map has a colour that shows its broad status. Green-toned markets have a working licensing or registration regime for crypto platforms. “Evolving” markets are building a new legal framework but are not finished yet. Mainland China is marked as restricted. Hover a country (or tap it on your phone) and you get two or three short facts: usually the regulator, the tax headline and something about the local STEPN scene.

Countries with a full guide are clickable. That’s Japan, South Korea, Taiwan, Hong Kong, Vietnam, India, the Philippines and Indonesia. Thailand and Singapore are on the map with brief notes, and we cover them further down this page. If your country is not highlighted at all, the general route in our how to buy GST guide still applies; you just need to check your own local rules.

A quick word on what the map is not. It is not a legal opinion, it does not tell you whether a specific exchange will accept you, and it cannot replace the in-app information STEPN shows you. Regulation in Asia moves fast. Treat the map as a starting point, then read the country page and the official sources we link from it.

Why Asia matters so much for STEPN and GST

STEPN was co-founded by Jerry Huang and Yawn Rong, both based in Australia, and launched on Solana before expanding to BNB Chain. But a large share of its story has been written in Asia. The clearest early signal was the April 2022 collaboration with ASICS, the Japanese sportswear brand. It was STEPN’s first major brand collab: a run of NFT sneakers sold through an IGO on Binance NFT, with more than 195,000 participants reported. ^[source] That sale landed in the same weeks GST hit its all-time high of $8.51 on Solana, on 28 April 2022.

Japan has stayed central since then. By search demand it is the biggest STEPN market in Asia, and Japanese runners kept showing up long after the 2022 boom faded. FSL’s January update described STEPN BOOST Season 4, a marathon series running through Hirakata, Kyoto, Osaka, Tokyo, Nagoya and Fukui. ^[source] More recently, FSL pointed to “renewed community interest” in the Polygon realm, “particularly in Japan”. ^[source]

Korea matters for a different reason: liquidity. GMT has won-denominated markets on Upbit and Bithumb, and FSL even used Upbit for a GMT liquidity operation in early 2025. Taiwan matters because MAX still lists GST against the Taiwan dollar, which is unusual now that most exchanges have dropped the token. India, Vietnam and Korea each have an official STEPN Telegram group in the local language, alongside Japan.

The flip side is mainland China. In May 2022 STEPN announced it would cut GPS and IP location services for mainland-China users, with the change effective from 15 July 2022. GMT dropped sharply on the news, even though the founders said fewer than 5% of users were on the mainland. ^[source] It was an early lesson that in Asia, regulation can move token prices as fast as game updates can.

Comparing STEPN and GST rules across Asian markets

The table below is the short version of every country guide. “Local GST / GMT” means whether we could confirm a spot market for that token on a well-known exchange based in the country. A blank or “not confirmed” usually means the exchange API did not show a pair, or we could not check it, so you should verify before you plan around it.

Notice how rarely the last column says “GST”. That is the single most important thing to understand about buying Green Satoshi Token from Asia, and we will come back to it in a moment.

Patterns that repeat across Asia

Once you read the eight country guides side by side, the same themes keep coming back. They are worth knowing even if your country is not on the list.

Local exchanges list GMT, not GST

GST is a micro-cap token now. On the Solana realm it trades for fractions of a cent, and its total market value is small. Most big platforms have walked away from it: KuCoin stopped trading GST in April, Gate shows it as delisted, Bitget and MEXC no longer have a pair, and Binance never listed GST at all. GMT is a different story. It is listed on Binance, OKX, Bybit and many others, and in Asia you can find it against the Korean won (Upbit, Bithumb), the Indian rupee (CoinDCX) and the Indonesian rupiah (Bittime). If you want to understand why the two tokens are treated so differently, our GST vs GMT comparison explains the roles.

Regulation is getting stricter and more formal

Almost every market here has tightened its rules in the past two years. Korea’s Virtual Asset User Protection Act forces exchanges to keep user deposits with banks and most assets in cold storage. Hong Kong licenses platforms one by one through the SFC. Taiwan has passed a dedicated Virtual Asset Service Act that will replace its older registration model. Vietnam moved crypto out of a legal grey zone and into a tightly controlled pilot. The Philippines now requires offshore platforms that market to Filipinos to register with the SEC. The result is that licensed local platforms focus on large, liquid coins, which is one more reason GST rarely appears on them.

Tax rules are changing, but slowly

Japan and Korea both have big tax changes on the table, and both have a history of delays. Japan’s flat 20% separate taxation for crypto is expected from January 2028, not today. Korea’s 22% tax on gains has been pushed back several times and the ruling party has asked for another delay. India, by contrast, has kept its strict 30% plus 1% TDS model in place. Indonesia has moved to a very low final tax per sale. If you earn GST by walking, the hard question in every country is the same: is it income when you earn it, a gain when you sell it, or both? That is exactly where you need local advice.

Each realm is its own economy

This one is not about regulation, but it trips up Asian users constantly. STEPN today runs three realms: Solana, BNB Chain and Polygon. The old Ethereum realm was replaced by Polygon in August 2025. GST is a different token in each realm (sGST, bGST and pGST), and the official FAQ is clear that GST is not shared across realms. Each version has its own price, its own pools and its own buyers. Our guide to the three GST realms shows the contract addresses so you can avoid fake tokens.

How runners in Asia usually buy GST

Because local fiat markets for GST are so rare, the path most Asian players take looks almost identical from country to country. The details change (which exchange, which currency, which tax form), but the shape stays the same.

1. Choose your realm

   Decide whether you will play on Solana, BNB Chain or Polygon. You need that realm’s base coin (SOL, BNB or POL) for gas and swaps.

2. Buy the base coin on a regulated local exchange

   Use a platform that is licensed or registered in your country, with full KYC. In Korea, India or Indonesia you can also buy GMT directly in local currency.

3. Withdraw to your STEPN wallet on the right network

   Send the coin to the 12-word self-custody wallet inside the app. Double-check the network matches your realm before you press send.

4. Swap inside the app

   Use the in-app swap (it runs on FSL’s DOOAR DEX and charges 1%) to turn SOL, BNB, POL or GMT into that realm’s GST.

5. Keep records for tax

   Note the date, amount and local-currency value of each purchase, swap and sale. Your future self (and your accountant) will thank you.

There are two alternatives worth knowing. If you live in Taiwan, you can buy GST directly against TWD on MAX, though the order book is thin. And outside Asia, GST spot pairs still exist on Coinbase (GST-USD) and Kraken (GSTUSD); whether those platforms serve your country is a question for their own terms of service, not for us. Our full step-by-step GST buying guide covers each route, and the STEPN wallet guide explains how to protect the wallet you are sending to.

Before you swap, check the live GST price for your realm. The three GST tokens can sit at very different prices, and a swap in a thin pool can move the price against you.

Thailand, Singapore and mainland China: short notes

These three markets show up on the map without a full guide. Here is what you need to know.

Thailand

Thailand’s SEC licenses digital asset businesses, so exchanges serving Thai residents should hold an SEC licence. The interesting part is tax: a Ministerial Regulation gives individuals a five-year personal income-tax exemption on crypto capital gains made on SEC-licensed platforms, from 1 January 2025 to 31 December 2029. Companies are excluded. ^[source] That exemption is about trading gains on licensed platforms. It does not automatically cover tokens earned in a game or swapped in a self-custody wallet, so Thai runners should ask a local adviser how STEPN earnings fit. Use the English guides on this site for gameplay and buying.

Singapore

Singapore runs one of the strictest regimes in the region. Retail digital payment token services need a MAS licence under the Payment Services Act, and since 30 June 2025 the newer DTSP rules require Singapore-based firms serving only overseas clients to be licensed or stop. MAS has said such licences will rarely be granted. ^[source] As general knowledge, Singapore has no capital gains tax for individuals, but someone trading as a business may be treated differently. Singaporean runners follow the same base-coin route described above.

Mainland China

Crypto trading is banned on the mainland, and STEPN itself cut GPS and location services for mainland-China accounts in July 2022. Without GPS tracking, the core move-to-earn loop simply does not work. If you are reading from the mainland, we cannot point you to a compliant way to play, and we will not suggest workarounds. Hong Kong is a separate legal system; our Hong Kong guide explains how its rules differ.

Pick your country guide

Each guide below covers the local regulator, the current tax position, which local exchanges list GMT or GST, the practical buying route, community channels and the risks specific to that market. They are written separately for each country, so you won’t find the same paragraph copied eight times.

🇯🇵 Asia

GST in Japan

FSA rules, tax on STEPN income and the JP runner scene.

Read guide

🇰🇷 Asia

GST in South Korea

VASP rules, local exchanges and the Korean M2E crowd.

Read guide

🇹🇼 Asia

GST in Taiwan

VASP registration, local platforms and taxes.

Read guide

🇭🇰 Asia

GST in Hong Kong

SFC licensing, tax position and how locals access GST.

Read guide

🇻🇳 Asia

GST in Vietnam

The new legal status of crypto assets and the M2E scene.

Read guide

🇮🇳 Asia

GST crypto in India

30% tax, 1% TDS and GST price in INR.

Read guide

🇵🇭 Asia

GST in the Philippines

SEC & BSP rules, e-wallet ramps and the PH community.

Read guide

🇮🇩 Asia

GST in Indonesia

OJK oversight, crypto tax and local exchanges.

Read guide

New to the game itself? Start with our STEPN beginner guide, then come back to your country page once you know which realm and sneaker type suit you.

Risks that apply wherever you live

A few risks are universal. GST has no supply cap, its price sits near its all-time low, and liquidity in every realm is shallow. Small buys are usually fine, but large swaps can move the price. Scammers target Asian STEPN communities with fake moderators, fake “stealth mint” links and lookalike tokens; official moderators never DM you or ask for codes. ^[source] And regulation can change with little warning, as mainland-China users found out in 2022.