Today’s Asia Crypto News- June 4th

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

To get the latest alerts on China and Asia Cryptocurrency happenings, subscribe to our newsletter below. It’ll be a quick, hassle-free update to your inbox daily.


Top News

Hitbtc, the world’s eighth largest crypto exchange, has announced a service suspension for Japanese residents. http://bit.ly/2xGRMH5

Japan’s SBI Holdings launched the first bank-backed Crypto Exchange and will focus on trading XRP. http://bit.ly/2xGS4xF

Indonesia Trade Department’s Futures Exchange Oversight Committee has decided to treat digital currencies as futures or exchange-traded commodities. http://bit.ly/2JdUepS

The Philippine finance department is weighing the use of blockchain applications in a number of areas, among them tax payments and red-tape reduction. http://bit.ly/2JfIdAv

An interesting, in- depth coverage on how dApps are already being deployed in Southeast Asia to solve everyday business problems. http://bit.ly/2xIc17q

Coin and Exchange News

Japanese corporation offers loans backed by cryptocurrency. http://bit.ly/2JhOUSx


Business News

Singapore start-up Fusion secures $12.3 billion in assets for blockchain platform. http://bit.ly/2Ji7jPe

Baidu’s Super Chain attempts to handle the critical issue of the high energy consumption of cryptocurrency mining operations. http://bit.ly/2Jg5an1

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. http://bit.ly/2xDbh3y

In the Shanghai Stock Exchange, only 19 out of the 54 companies with blockchain initiatives have actual income from their blockchain business. http://bit.ly/2JevMVz

Japan’s Cryptocurrency Support Center has launched an intensive crypto investment course for middle-aged and elderly adults. http://bit.ly/2xIcneg


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). http://bit.ly/2JfRA2Q


Leave a Reply

More from GCR

Community

GCR Community Report

Introduction Global Coin Research (GCR) is a research and investment DAO focused on Web3. Our mission is to pioneer the future of community-driven investing. At

Featured

What’s the Difference Between a...

by Carlos Solana Why own an NFT when you could just download the image depicted on it, save it, and look at it as many

Featured

How Web3 is Disrupting Traditional...

The application of blockchain technology is catching the attention of the nonprofit community. By Bleu Blakslee To survive the pandemic, nonprofits have had to navigate