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. 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

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