Today’s Crypto News on Asia — Jun 28th
Binance to launch crypto-fiat exchange in Uganda, Korea’s new Crypto regulation; Messaging App line to release an exchange; JD working with Huobi
What Crypto insiders are reading on Asia.
Binance is about to launch a crypto-fiat exchange in Uganda, supporting the Ugandan Shilling, alongside major cryptocurrencies. http://bit.ly/2tCsO7w
Korea has revealed a new crypto regulatory framework and guidelines pertaining to AML and KYC requirements for crypto exchanges. It’s investigating into three major banks and having banks alert suspicious fund movements to avoid the “kimchi premium” from happening. http://bit.ly/2N5OhOg
Line is launching its own exchange supporting 30 cryptocurrencies, including bitcoin, ethereum and litecoin, at a trading fee of 0.1%. The Japanese messaging app makes a big push into financial services to compete against WhatsApp and WeChat. https://on.ft.com/2ySsKWa
JD.com’s cloud arm is working with Huobi to build blockchain-based technology and applications. JD most recently was supported by the Chinese gov’t to create asset backed tokens.
Coin and Exchange News
China’s Huobi opens London office in a move towards European market. http://bit.ly/2tCrscU
Hacked Bithumbit has now reduced its stolen damage by almost half after collaborating with worldwide exchanges, and it has also disclosed the accounts and crypto assets that were stolen during the breach. http://bit.ly/2tMv0IL
Plair, the first gaming platform and the first ICO to launch on VeChainThor platform, is having a live AMA. http://bit.ly/2tCqgX0
Redditor claim EOS’s 21 nodes is too few to deter cartels and currently nodes are dominated by Bitfinex, Huobi, Chinese, Koreas. http://bit.ly/2tBUU2L
Business and Regulation News
Hong Kong’s de facto central bank is planning to work Abu Dhabi to develop a cross-border trade finance system that is built with distributed ledger technology. http://bit.ly/2tAzW4c
Blockchain can legally authenticate evidence, Chinese judge rules. http://bit.ly/2tJU96R
CEO of SBI, one of Japan’s financial giants and longtime Ripple partner in Asia, talked about his belief in blockchain to get Japan’s economy back on track to regain the global position it once held. http://bit.ly/2tCJJGT
China Banking Regulatory Commission researchers are advocating that domestic regulators issue licenses for crypto-related activities, including any capital transaction that relates to distributed ledger accounts, blockchain, cryptocurrency and its derivatives, ICOs and exchange operations. http://bit.ly/2ySAxDw
Did I miss anything big today? Share with me the link, if you saw anything interesting. If I’m swayed, I’ll include your bit tomorrow (with attribution)!
Check our past 3 weekly pieces on Binance, Bitmain, and China’s Crypto winners
I’m conflicted about the news that Facebook may potentially acquire Coinbase, it reinforces centralization but then also bring legitimacy to the space. Perhaps the latter is more important right now.