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.

– Thailand’s Bank of Ayudhya PCL successfully conducted a cross-border transaction with a bank in Singapore using a blockchain.

– MAS (Monetary Authority of Singapore) halts ICOs. 8 Cryptocurrency exchanges as scrutiny increases.

Coin and Exchange News

– Former Huobi CTO Zhang Jian launches FCoin, gaining investments from top venture capital firms.

– 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%).

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

  • Drops?—?Non Profit Donation Tracking on the Blockchain
  • Armada?—?Dropshipping Blockchain Platform
  •—?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

– 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.

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.

– 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.

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