Op-Ed

Global Coin Research: China leads global Libra search traffic, Thailand SEC talks about its stablecoin

Quick Take

  • A summary of the week’s top crypto news in Asia by Global Coin Research

This twice-weekly newsletter is republished with permission from Global Coin Research, a global research firm with a focus on Asia blockchain and related technologies. You can find more resources on Asia Cryptocurrency and Blockchain at GlobalCoinResearch.com and on Twitter at @globalcoinrsrch

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Top News

China Leads the World in Google Searches for Facebook’s Libra. Source 

Japan’s government is leading a global push to set up an international network for cryptocurrency payments, similar to the SWIFT network used by banks, in an effort to fight money laundering. Source

U.S. Regulator Probing Crypto Exchange BitMEX Over Client Trades. Source 

Libra’s Perceived Threat Towards the Chinese RenminbiSource 

Binance is starting to participate in staking, starting with Stellar, to airdrop 9 million Stellar. SourceSomewhat relatedly, checkout our recent piece on The Rising Trend of Exchanges Participating as EOS BPs

GCR Workshop takeaways with Awa Sun Yin, co-founder of Cryptium Labs on PoS variants and East and West developer community. Awa highlights the active projects in Asia and also how its increasingly difficult for projects as some jurisdiction will start comparing incoming protocols with existing popular ones. Source

Op-Ed: What to do when you are a crypto business in a prolonged market full of retail investors. Source 

 

Investments

Singapore-based market maker Altonomy Raises $7M in Funding Round Led by Polychain Capital. Source

A startup founded by the Russian Waves platform team, Vostok, has been sold to one of the project’s earliest investors. Source

Venture funding in blockchain tumbled 60% this year – Smart Money Said ‘Skip Bitcoin, Bet on Blockchain.’ Not Any More. Source

 

Coins and Mining

Binance Jersey has started offering a British pound-backed Binance called GBP Stablecoin (BGBP). Source 

Top-5 Crypto Tokens Pronounced ‘Dead’ — NEM and BCC Head the List. Source

Circle CEO is joining Justin Sun’s meal with Warren Buffet. Source

Crypto wallet Renrenbit, which raised pre-sale LEO tokens, will be one of the first to support storage and management of CKBytes, the native token of the Nervos Network. Source

GCR interviews David Lee, Professor of Singapore University of Social Sciences On Libra. Source 

 

Exchange

Japan’s Exchange Bitpoint Hack Shows That Regulators’ Scrutiny Does Not Equal Safety. Source 

Exchange Huobi is upgrading its current HUSD solution, transitioning it from a stablecoin basket to a new, ERC-20, USD-pegged stablecoin, HUSD Token. Source

GCR Workshop #7: Everything You Want to Know about Exchange Huobi- Exchange Developments; Expansions and Product Launches. Source

 

Business

Underground Bitcoin Business in China: $10k for Creating a Cryptocurrency run like a Ponzi scheme. Source 

Tencent Security report that they monitored a Virus-ransomware named Ryuk encrypts data on an infected device and demands a ransom in bitcoin. The ransom is generally very high (recent ransom reached 11 Bitcoins, worth about 750,000 yuan). Source

U.K. Releases economic crime action plan, which details regulatory action on cryptocurrencies to prevent their use in criminal activities. Source

Nearly 70% of polled companies by E&Y in Asia-Pacific don’t trust blockchain technology because they are still grappling to understand how reliable it is. Over two-thirds of enterprises also lack a solid understanding of blockchain tech and how to apply it. Source

 

Regulation

The Hangzhou Internet Court pointed out that “virtual property” attribute of Bitcoin, recognized it as a virtual property with value. Source 

Taiwan is the new home for Hong Kongers seeking political safety. Source

Municipal-Crypto is Spreading Around the World, in areas such as Berkeley, California, to Busan, Korea Source

Thailand economist: Libra is not just about Facebook, it is about the US’s continued domination of the world financial market. Source

Thailand SEC says its stablecoin won’t be employed as a fundraising tool, but instead as an e-payment medium for clearing and settlement. Source