GCR

Korea seeking direct supervision over crypto; Binance doesn’t want to be #1; India traders getting away from crypto ban

What Crypto insiders are reading on Asia.

Happy Friday! The news from the SEC on ETH not being a security was a great way to end the week. This statement has large implications for the crypto community, and should set a precedence for many of the Asian countries regulators. I trust that over a long time, regulators from all over the world will come to a consensus (perhaps on a blockchain) on how cryptocurrency should be regulated. That is, except China. More to come on that this weekend.

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Top News

“The regulators like to talk to number one guy. We try very hard to not be number one all the time”- CZ on Binance. http://bit.ly/2JKLibN

India’s crypto traders may have discovered a way around the govt’s ban. Hint: one bank doesn’t fall under purview. http://bit.ly/2Mv8WL9

South Korean is the first government seeking direct supervision over Crypto exchanges. http://bit.ly/2tartnc

Congratulations to EOS for launching. http://bit.ly/2JKDNBz
I am really looking forward to the post-mortems from this process as the voting took longer than many had anticipated for many reasons, including security concerns with the voting process.

Coin and Exchange News

China’s Ministry of Industry and Information Technology’s (MIIT) Global Public Chain Technology Evaluation has selected 30 projects for evaluation, including Nebulas. Public blockchains cannot apply. http://bit.ly/2MqOZoS 
This is the same gov’t institution that provided a ranking on cryptocurrencies not too long ago. I suspect all the top ranked cryptocurrencies then will be part of the list now.

Ripple expects the India gov’t to rescind its current ban on cryptocurrency businesses. http://bit.ly/2Mswy3e

Ripple Managing Director of Growth spots opportunity in Southeast Asia, whom he believes are more open to cryptocurrencies. http://bit.ly/2tabiGC

Business and Regulation News

This is the Chinese story that I mentioned yesterday, which involved the feud between Li Xiaolai, INBlockchain partner and Kuaidi CEO. As told by Coindesk. http://bit.ly/2JMmaS1

Municipal gov’t of Chongqing, China, originally planned for a “blockchain digital asset exchange” for non-standard assets, but the central gov’t ordered it to be suspended. http://bit.ly/2sYaQvB

Updated the events list! If you are traveling to Asia or the US this summer, why not catch some of the companies while you are there?