Places Asia

In mid-June 2018 Bithumb was hacked for $31 million worth of cryptocurrency and subsequently halted all withdrawal and deposit services. On Aug. 4, however, Bithumb resumed the services for 10 specific cryptocurrencies. Recovery from Large-scale Hack South Korean cryptocurrency exchange Bithumb announced on Twitter that deposit and withdrawal services will resume at 11 a.m. KST on […]

Continuing its decisive development spree for the optimal growth of the cryptocurrency sector, the Bank of Thailand (BoT) passed a resolution to allow local banks to set-up cryptocurrency-focused subsidiaries for dealing with related businesses. Thailand’s Cryptocurrency Push As reported by local news outlet Blognone on August 3, Thailand’s locally incorporated banks can now provide cryptocurrency […]

After a police raid over allegations of fraud and insolvency, UpBit, South Korea’s leading cryptocurrency exchange demonstrated full financial competence after a final audit report. Dunamoo, UpBit’s parent company, cited a report proving the exchange has ample assets to match its balance sheets. In fact, UpBit currently operates with a 27% surplus of funds, according to the […]

In 2014, Mt.Gox declared bankruptcy after losing over 744,000 Bitcoin in a large-scale hack. Released August 1, 2018, Mt.Gox creditors revised their proposal to claim Bitcoin repayments and expedited compensation procedures. Creditors to Be Paid in BTC and BCH Mt.Gox creditors released a revised basic policy for their Bitcoin (BTC) repayments following the Tokyo District […]

Global investment firms and cryptocurrency exchanges are rushing to develop new digital asset markets in preparation for impending regulations. Announced on July 31, 2018, SBI Holdings invested $9 million in Clear Markets to create a cryptocurrency derivatives trading platform. SBI Crypto Investment Makes First Move Japanese financial services powerhouse SBI Holdings invested 1 billion yen […]

A possible ICO scam is under investigation in South Korea after a much-publicized shipwreck attracted the suspicions of local authorities. Sunken Treasures As reported by local outlet Korea Joongang Daily on August 1, 2018, Seoul-based Shinil Group is facing the heat as a critical figure in the scam. Earlier in July 2018, Shinil allegedly promised […]

Emerging cryptocurrency regulations are putting greater scrutiny on exchanges and companies worldwide. Starting August 1, 2018, Korean cryptocurrency exchange Bithumb will no longer issue new virtual accounts due to the failure to renew a banking contract. South Korea Cracks Down on KYC and AML Bithumb has suspended new bank-linked virtual accounts after failing to establish […]

Leaked financial data has allegedly revealed that cryptocurrency mining juggernaut Bitmain captured a monolithic $1.2 billion USD in profit for the first quarter of 2018, as well as hinting toward details of the upcoming Bitmain IPO. Announced by Fortune’s Term Sheet, the data — purportedly obtained via an email delivered to the media outlet by […]

The regulatory body overseeing Japan’s digital currency and trading market introduced a rule that could potentially affect thousands of traders in the cryptocurrency-crazy nation. Regulating Crypto, One Step a Time As reported by Nikkei Asia Review on July 25, 2015, the Japan Virtual Currency Exchange Association (JVCEA)  announced a widespread crackdown on the country’s margin […]

Chinese government officials in the South Eastern province of Xiong’an have engaged the services of Ethereum incubator ConsenSys to help turn their agriculture-intensive economy to a technological powerhouse. Xiong’an’s Blockchain Push As reported by South China Morning Post on July 24, 2018, Xiong’an authorities are seemingly missing no steps in making President Xi Jinping’s dreams of […]

Days after marking its first-year anniversary, leading exchange Binance is reportedly poised to enter South Korea. Seeing more than $600 million worth of cryptocurrency traded every day, the South Korean market is the fifth-most active in the world. While Binance — the world’s largest exchange by trade volume — is yet to issue an official […]

The third round of blockchain rankings has been released by China’s CCID Research Institute and EOS received the top rating for the second time in a row. Ethereum and Nebulas followed close after. Despite the complications Block.One faced during EOS’s main net release, CCID still felt that EOS remained supreme among all the blockchain projects […]

A prominent South East Asia-based fund management company is considering the launch of a cryptocurrency custodial service targeting regional institutional investors. The Demand for Cryptocurrency Custodians As reported by South China Morning Post on July 22, 2018, the Singapore-based Fusang Investment Office is planning to offer cryptocurrency holding services after clients expressed rising interest in […]

South Korea’s financial authority confirmed on July 19, 2018, the implementation of a policymaking department focused exclusively on blockchain technology and related domains. Rising Technology “Leads Financial Innovation” As reported on The Korea Times, the country’s Financial Services Commission decided after careful consideration of the burgeoning blockchain industry and a crucial need for regulation to […]

The State Bank of Vietnam (SBV), the East Asian country’s central bank, announced on July 19, 2018, the import of cryptocurrency miners to the nation is indefinitely suspended.

With the impending legalization of cryptocurrency exchanges and businesses, South Korea continues to make way for blockchain development. A leader in the industry, South Korea is considering reducing taxes for blockchain startups to fuel ‘growth through innovation.’ Meeting on ‘Growth Through Innovation’ On July 13, 2018, the South Korean Ministry of Strategy and Finance met […]

In 2018, within a span of two months, the largest crypto exchanges in Japan and South Korea were hacked. A New York-based cyber security firm declared more breaches are yet to come. According to BLAKFX president Robert Statica, crypto exchanges are easier to hack than most online platforms, especially for experienced hackers. Statica explained that […]

Imitating the infamous trend of adding “internet” to a company’s name during the dot-com bubble of 1999, China is experiencing a surge in companies registering their businesses with “blockchain” in their names. Adopting “Blockchain” According to the South China Morning Post, from January to July 2018 the number of companies undertaking such a step has risen […]