🌟 Top News in Asia from Monday through Wednesday
Binance is looking to create a new unified stablecoin market. http://bit.ly/2P7AiY2
‘Many crypto exchanges have expressed interest In joining our regulatory sandbox’, said CEO of Hong Kong Securities and Futures Commission. http://bit.ly/2ztCJPG
Given recent mining rig price decline-induced FUD, F2Pool founder Mao Shixing discusses what’s happening: http://bit.ly/2zxXols
Bitmain is facing a class action lawsuit of $5 million from an LA resident that alleges its S9 miners mined cryptocurrency for its own benefit prior to being configured on its customers’ devices. http://bit.ly/2P8MN5A
💰 Coin and Token News
Tether launched a redesigned platform for direct Tether redemption via fiat and started accepting applications from new users. http://bit.ly/2zoP8nZ
💸 Exchange News
Upbit, South Korea’s largest crypto exchange by volume according to CoinMarketCap, has been approved by the Korea Internet and Security Agency for having a strong infrastructure in place. http://bit.ly/2ztiHEG
Hong Kong-based cryptocurrency exchange OKEx is delisting a second swathe of trading pairs due to “weak liquidity”, removing a further 49 trading pairs from its order book:http://bit.ly/2TOPjS1
Hacked Japanese cryptocurrency exchange Coincheck has begun trading a wider range of assets Nov. 26, ten months after funds worth over $530 million were stolen. http://bit.ly/2P7gSSS
An overview of the quant fund Amber AI’s allegations on OKEx. http://bit.ly/2P6q7Tq
Tether at one point this week became the seventh most valuable crypto in ranking after overtaking Litecoin amid some intense selling in the past few days: http://bit.ly/2KAg48u
🎌 Regulation News
South Korea’s Ministry of Science and ICT, and the National Election Commission will develop a blockchain-based online voting system by December. https://zd.net/2P6BpXG
Malaysia will enact regulations for cryptocurrency and Initial Coin Offerings in Q1 2019. http://bit.ly/2P5iyfN
A new Singapore bill will put electronic wallets and digital payment tokens such as bitcoindirectly under the supervision of Singapore’s central bank, the Monetary Authority of Singapore, after realizing that the existing legislation does not cover them: http://bit.ly/2TOp0v8
A minister serving in India recently stated that a local state was working on plans that would help make it possible for local firms to operate without having to rely on the policy frameworks put in place by the National government: http://bit.ly/2DNUAne
💼 Business News
Hong Kong’s 2nd largest container terminal operator adopts blockchain developed by Maersk and IBM to document logistics data: http://bit.ly/2Sf6A54
🌹In case you missed it
*NEW* A Weekly Report on the State of Asia Cryptocurrency and Blockchain
Based on our reader feedback, we are introducing a new weekly series to contextualize and analyze the latest happenings in Asia. So far we have come up with 4 high-level topics, and every week we will be writing about one of these topics, and rotating through them in the following order.
- China (providing commentary on recent regulatory trends, media sentiment, and touching on exchanges and company developments)
- Asia Countries ex-China (providing commentary on recent regulatory trends, media sentiment, and touching on exchanges and company developments)
- Exchanges And Mining (Binance, Huobi, Upbit, Bitmain, Canaan, etc)
- Crypto Projects and Funding Trends
For this week, we published our thoughts on the first and arguably the most important topic — China.
Here’s the quick take:
China’s Cyberspace administration has been pushing for an acceleration of blockchain standards this month. Simultaneously, in the background, it’s swiftly gathering user information, centralizing data and shutting down user accounts of large tech companies- Baidu Alibaba and Tencent and others. The regulators have also been making moves on education and implementing its internet practices internationally. We are seeing a new digitally-enabled governing central power unveiling before us.
We also write about Chinese regulator’s recent crackdown on airdrops, why Hong Kong and China banks are implementing different blockchain technologies and recently mining machine induced market FUD.
READ THE ENTIRE POST HERE.