Latest Crypto News on Asia — May 24

Korbit bans Dash Monero; Thailand bank conducts blockchain transaction; Singapore halts ICOs

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Top News

– South Korean cryptocurrency exchange Korbit has announced its decision to withdraw support for five cryptocurrencies, Dash, Monero, 3 more altcoins, following a similar decision in recent days from Japan’s Coincheck exchange. http://bit.ly/2LsbBVl

– Thailand’s Bank of Ayudhya PCL successfully conducted a cross-border transaction with a bank in Singapore using a blockchain. http://bit.ly/2x8IYtd

– MAS (Monetary Authority of Singapore) halts ICOs. http://bit.ly/2x5NhFTWarns 8 Cryptocurrency exchanges as scrutiny increases. https://bloom.bg/2IK3npX

Coin and Exchange News

– Former Huobi CTO Zhang Jian launches FCoin, gaining investments from top venture capital firms. http://bit.ly/2Ltz74i

– Huobi announced that they would be launching a ‘Main Force’ Crypto Market Index that consists of 10 coins: Bitcoin (25.96%), Huobi Token (25.57%), EOS (15.57%), Ethereum (12.30%), Bitcoin Cash (5.55%), XRP (4.30%), LTC (3.31%), IOST (3.02%), Ethereum Classic (2.57%), Dash (1.82%). http://bit.ly/2Lpnpry

– EOS’s Hackathon 1 Video Pitch Competition winners are:

  • Drops?—?Non Profit Donation Tracking on the Blockchain
  • Armada?—?Dropshipping Blockchain Platform
  • iRespo.com?—?Certificates Stored on the Blockchain
  • Loan-Block?—?A Decentralized, Peer-to-Peer Bank Application
  • Bee Social?—?A blockchain platform that connects volunteers, commercial companies, and nonprofits

You can check out the videos here http://bit.ly/2LpuHf2

– Indian cryptocurrency trading platform Unocoin announced that the platform will provide Bitcoin for all users affected by technical failure earlier this week.

Business News

-On May 24th, the “Intelligent Tax” Innovation Laboratory was jointly established by Tencent and the Shenzhen Municipal Office of the State Administration of Taxation. http://bit.ly/2x5PlO9

Macro and Regulation Watch

– China’s State Council, the country’s central administrative branch of government, has sent a highest-level order demanding that local authorities speed up blockchain technology development. http://bit.ly/2LokbVc

– Japan Financial Services Agency’s cryptocurrency exchange research institute: 58% of mining pool is in China and 16% in the United States

– India considers 18% tax on Cryptocurrency trading as blockchain startups leave. http://bit.ly/2IFrzxD

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