A consortium comprising of a Singaporean government body and a number of major banks has completed the ASEAN region’s first-ever proof-of-concept for a Know Your Customer (KYC) blockchain. The Infocomm Media Development Authority of Singapore (IMDA), the country’s information communications and media regulator, has collaborated with a number of major...
A Japanese financial services group is drawing plans to issue its own tradeable digital currency to be used for payments and instant P2P transfers. Japan’s SBI Holdings, a major financial services group already invested in digital currencies and blockchain technology (via Ripple), is set to issue its own digital currency for payments....
South Korean authorities have confirmed that hackers from North Korea targeted bitcoin exchanges in the country in multiple attempts to steal the cryptocurrency. The Republic of Korea’s National Police Agency (NPA) has published details of its investigation surrounding several claims of cybersecurity incidents involving hackers from North Korea. As covered by CCN...
China is a Bitcoin powerhouse. An Article by Willie Tan in Cointelegraph recently concluded that 70 percent of Bitcoin mining is located in China. The Chinese have taken to Bitcoin like fish to water and there is no reason why they shouldn’t. China and Bitcoin are like a match made...
China’s cryptocurrency ban could be a temporary move to appease international agencies and certain communist party members ahead of the upcoming Communist Party convention, according to Panos Mourdoukoutas, an economics author and professor at LIU Post in New York, writing in Forbes. Mourdoukoutas observed that China’s government and major banks are threatened...
Japan's Financial Services Agency (FSA) has issued operating licenses to 11 bitcoin exchanges. In an announcement today, the regulator confirmed the action, one that follows an amendment to the payment services law that mandated all cryptocurrency exchanges register with authorities by the end of September. Passed in April, the new law established...
Crypto bulls should be delighted by the market action today, as the major coins rebounded quickly from the South Korean ICO ban sell-off. Bullish reaction to negative news; it is arguably one of the strongest indications of buying power behind a trend. That said, the most valuable currencies are still...
BTCC has stopped accepting yuan and cryptocurrency deposits today as it prepares to shutter its operations in China this month. Chinese cryptocurrency giant BTCC, the operator of the oldest cryptocurrency exchange in what was previously the largest trading market in the world, has stopped accepting deposits today at 12:00 noon,...
Earlier this week, two local bodies representing the local financial technology (fintech) industry have revealed that Singaporean banks have denied banking services to bitcoin and blockchain startups. Singapore’s Cryptocurrency and Blockchain Industry Association, or Access, submitted a formal complaint to the Singaporean government, requesting officials to step in and create...
Beginning October, Japanese Bitcoin and cryptocurrency exchanges will be fully surveilled and investigated by local authorities as a part of a larger initiative to create a more regulated and robust Japanese Bitcoin exchange market. Earlier this month, the Chinese government enforced a nationwide ban on Bitcoin and cryptocurrency exchanges, forcing large-scale cryptocurrency...