Top Crypto News from Asia- Aug 6th- Aug 8th

Top Crypto News from Asia- Aug 6th- Aug 8th

What Crypto insiders are reading on Asia.

We added a “Deals” section to bring you the latest relevant Crypto deals from Asia, funded by the top US and Asian Crypto investors.

Top News from Monday through Wednesday

Korea’s Jeju Special Self-governing Province Governor pledges to make Jeju a blockchain hub city, issue a cryptocurrency, dubbed “Jeju Coin,” and use the raised funds for the residents of the island.

Bank of Thailand passed a resolution to allow local banks to set-up cryptocurrency-focused subsidiaries for dealing with related businesses.

*China Media* Binance announcement?—?looking to launch 3 cryptocurrency exchanges this year. Can launch decentralized exchange in as little as a half a year. Google translated

Singaporean blockchain startup Rate, with its Cross-Border Payment Protocol built on Stellar, and a Credit Scoring Protocol built on ethereum, has raised $15 mn private sale from Matrix Partners China, Fenbushi, Node Capital, Kenetic, FBG Capital, AlphaCoinFund and IOST.

Japan’s primary financial regulator is looking at updating its regulatory framework for the cryptocurrency sector to curb speculative investments.

Michael Arrington, the Founder of Techcrunch and the Partner Arrington XRP Capital said that XRP is better than Bitcoin and Ethereum in terms of transactions.

*China media* INBlock along with several Chinese firms released a The Blockchain Game Industry Whitepaper in 2018. Google Translated

Crypto Deal News

Singapore-based ODX Pte. Ltd., a global decentralized marketplace to deliver free internet access to consumers in emerging markets, has raised $60mn from notable investors including BlockTower Capital, Pantera Capital, Kenetic Capital from Hong Kong, DNA Fund, Andromeda from Switzerland.

*China Media* EveriToken, a blockchain technology built on EOS and used to digitize real-world certificates and tickets, has received millions of dollars in financing, led by Fenbushi capital, Yuandao Capital, Qianfang Fund, Shuimu Fenghua Fund. Google translated

Bitmain has reportedly secured China’s biggest technology company Tencent and Japan’s Softbank, Uber’s biggest shareholder, as investors in a pre-IPO financing round.

Crescent Crypto Asset Management, a cryptocurrency index fund manager led by Goldman Sachs alumni, completed its Series A and launch of its offshore Cayman fund, led by FBG Capital.

The blockchain payment platform EPC has received strategic investment of US$30mn led by Fenbushi, partner Shen Bo will also be the project strategy consultant.

Coin and Token News

New ICON (ICX) repurchase program authorizes the foundation to repurchase up to $5 million of currently circulating ICX + new open source release schedule.

In China, a MacCoin, a physical token which is given away with the purchase of a Big Mac in McDonalds, has been hyped up to 800Rmb or $115.

Blockchain platform VeChain has been selected to be among the first batch of partners for NTT Docomo’s 5G Open Partner Program. NTT Docomo is Japan’s largest telecom company with over 76mn subscribers.

Roger Ver has recently sent the governor of Jeju Island of South Korea $100 worth of Bitcoin Cash at a public event.

BitTorrent has been elected as a Super Representative in TRON’s Super Representative Elections.

Exchange News

In India, exchange Zebpay has enabled Trueusd (TUSD) trading, deposits and withdrawals.

Huobi streamlines Token listing application process.

UPbit, currently the biggest crypto exchange in South Korea, came out clean in an audit report which proved the exchange had 100% of the amount its balance sheet demonstrated.

Da Hongfei and Erik Zhang on NEO from last week’s Reddit AMA.

The Korean government announced a new set of tax amendment which will strip away substantial tax benefits for bitcoin exchanges.

Business News

Director-general of the Institute of Digital Money of the People’s Bank of China shared his thoughts the Chinese central bank’s two-layer Digital Fiat Currency model in a New York Conference.

7 large banks in Hong Kong are working together to promote the development and launch of a Hong Kong trade finance blockchain platforms, led by the Hong Kong Monetary Authority.

China’s Fudan University creates decentralized exchange for unused power.

Korea’s Macrogen, Bigster to create blockchain-based medical data platform.

Regulation News

Japan Virtual Currency Exchange Association, a body comprised of all 16 licensed cryptocurrency exchanges, have formally applied for certification from the country’s financial regulator to form a self-regulatory body.

The Financial Services Bureau of Sichuan Free Trade Zone has cooperated with blockchain startup PrimeLedger, a subsidiary of UCF Group, to jointly establish a financial regulatory sandbox system. and the Cagayan Economic Zone Authority looking to build Philippines’ first blockchain hub in a bid to promote technology in local business processes.

The Central Bank of the Philippines is exploring the possibility of issuing the central bank’s digital currency.

How to end Japan’s deflation? Abolish cash. A national digital currency is an experiment worth trying.

Malaysia authorities raided an illegal cryptocurrency mining center, occupying two floors of a shophouse at Uni Central Commercial Centre for stealing electricity.

Our third podcast is out in the iTunes store. Check it out! ?

In our upcoming podcast episode, our guest will be Zac Cheah, CEO of Pundi X, who will be sharing his observations of the Southeast Asia Crypto markets- Singapore, Thailand, Malaysia, Indonesia, as well as his insights on the Cryptocurrency market evolution and adoption. Be sure to follow him on Twitter to learn more about Pundi X.

If you haven’t already, please help our podcast get discovered by rate on Apple Podcasts. Also share it with your friends on Facebook, Twitter, or Linkedin. THANK YOU!

Check our past 6 weekly pieces on A Guide to Asia Crypto funds/investors, Takeaways on Asia Crypto from Techcrunch Zug, Cryptokitties, Binance, Bitmain, and China’s Crypto winners

Leave a Reply

Your email address will not be published. Required fields are marked *

More from GCR


Exploring Farcaster & Frames – ...

Farcaster is a decentralized social networking platform similar to Twitter that is based on Optimism, Ethereum’s layer 2. Farcaster’s main goal is to facilitate communication ...


GCR Community Events Recap – ...

GCR IRL: Savor & Smoke: An Exclusive Dubai Experience with GCR, GCRx, and Rooch The excitement was palpable throughout “Savor & Smoke: An Exclusive Dubai ...

Featured GCR Announcement GCR Exclusive GCR Quarterly Review

GCR Market and Investment Trends ...

By Global Coin Research Team Highlights GCR is a research and investment community. As a collective, we source investments, conduct research and diligence, and make investments ...