Tag Archives: Asian Bitcoin & Blockchain News

South Korean Police Did Not Raid Cryptocurrency Exchanges, FUD Triggers Market

This week, several Western mainstream media outlets have falsely reported that South Korean cryptocurrency exchanges were “raided” by local police and authorities. More inaccurate reports regarding the current state of the South Korean cryptocurrency exchange market led the entire cryptocurrency market to decline in value, demonstrating a similar effect to that (more…)

South Korean Investor Brags About $24 Million Bitcoin Profit, Government Now Chasing Taxes

On January 9, MoneyToday, one of the most widely read finance and business news publications in South Korea, reported that a South Korean investor has made a $22 million profit off a $90 investment in bitcoin he likely made in 2011. For a $90 investment to turn into $22 million, the (more…)

South Korean Cryptocurrency Mania: Exchanges are Adding More Employees Than Banks

South Korean cryptocurrency exchanges including Bithumb, Coinone, and Korbit are adding more employees than banks and financial institutions, local mainstream news networks have reported. YTN, one of South Korea’s largest mainstream media outlets, revealed that Bithumb, which processes more than $2.6 billion worth of cryptocurrency trades on a daily basis, has (more…)

Indian Policy Think Tank Develops Blockchain Proof-of-Concept

Image credit: Sun setting at Connaught Place in Delhi, by Ville Miettinen, via Flickr NITI Aayog, a policy think tank of the government of India, is exploring the use of blockchain. The agency is developing a proof-of-concept to leverage technology in key sectors such as education, health and agriculture, a senior (more…)

South Korea’s Bitcoin Regulation is Highly Optimistic, False Reports Claim Ban

Over the past 24 hours, a series of false reports from news publications including Reuters have claimed that the South Korean government is planning on banning or closing down cryptocurrency exchanges. An initial report from Reuters, which has since been corrected, stated that the South Korean government is expected to close (more…)

Several South Korean Banks May Close Down The Accounts of Bitcoin Traders

Woori Bank, the third largest commercial bank in South Korea behind Shinhan and Kookmin, is planning on closing down the existing accounts of cryptocurrency exchanges. Last week, mainstream media outlet Hankyoreh reported that Woori Bank is planning to shut down services for the country’s 3 largest cryptocurrency exchanges: Bithumb, Korbit, and Coinone who account (more…)

South Korean Government Will Regulate Bitcoin Exchanges, Refutes Ban Rumors

The South Korean government has officially refuted various reports on the possibility of a cryptocurrency trading ban within the country. On Wednesday, December 13th, the South Korean government, central bank, and financial authorities had held an emergency meeting to discuss the legality of cryptocurrencies and the current state of the bitcoin (more…)

Singapore Telcoin Targets the Unbanked with New ERC20 Cryptocurrency

A young startup from Asia called Telcoin is looking to partner with telco operators around the world to facilitate the adoption of its cryptocurrency for payments and other financial services. Partnerships have already been signed proof-of-concept agreements with Etisalat from the United Arab Emirates, Dutch VEON Group and Telecom Tunisie. The (more…)

South Korean Minister’s “Bitcoin is Corrupting Kids” Logic is Flawed

South Korean Prime Minister Lee Nak-yon has recently called for the imposition of strict and rigid regulatory frameworks for cryptocurrency businesses, given the exponential growth of the global bitcoin market. Lee emphasized that currently, cryptocurrency exchanges and investors have complete freedom, as the South Korean cryptocurrency exchange market is not regulated (more…)

Malaysia Financial Regulator Unveils Blockchain Pilot Project

Image credit: SC Chairman Tan Sri Ranjit Ajit Singh giving his opening address at the SCxSC2017 Digital Finance Conference, @SecComMY, Twitter The Securities Commission (SC) Malaysia is exploring the use of distributed ledger technology for the over-the-counter (OTC) market. The pilot project, run through SC’s Alliance for Fintech (aFINity) program, aims (more…)