Today’s Asia Crypto News- June 4th

Exchange suspends Japan residents; Indonesia treating digital currencies as futures; Philipines considers blockchain for tax use case

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Top News

Hitbtc, the world’s eighth largest crypto exchange, has announced a service suspension for Japanese residents.

Japan’s SBI Holdings launched the first bank-backed Crypto Exchange and will focus on trading XRP.

Indonesia Trade Department’s Futures Exchange Oversight Committee has decided to treat digital currencies as futures or exchange-traded commodities.

The Philippine finance department is weighing the use of blockchain applications in a number of areas, among them tax payments and red-tape reduction.

An interesting, in- depth coverage on how dApps are already being deployed in Southeast Asia to solve everyday business problems.

Coin and Exchange News

Japanese corporation offers loans backed by cryptocurrency.

Business News

Singapore start-up Fusion secures $12.3 billion in assets for blockchain platform.

Baidu’s Super Chain attempts to handle the critical issue of the high energy consumption of cryptocurrency mining operations.

Huobi has joined forces with Chinese VC New Margin Capital and Korean online brokerage Kiwoom Securities to jointly launch a 100 billion won ($93 million) investment fund.

In the Shanghai Stock Exchange, only 19 out of the 54 companies with blockchain initiatives have actual income from their blockchain business.

Japan’s Cryptocurrency Support Center has launched an intensive crypto investment course for middle-aged and elderly adults.

Macro and Regulation Watch

A Chinese healthcare firm has reportedly raised 120 million yuan ($18 million) by issuing a custom cryptocurrency, despite China’s 2017 ban on initial coin offerings (ICOs).

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