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China’s Xi Jinping Eyeing Regional Support for ‘Digital Silk Road’ Development

November 28, 2020 CBDC, China, News, Regional Eddy 0

It has been a busy week for China President Xi Jinping, speaking at two major virtual conferences with both global and regional leaders. Urging his fellow G20 leaders to pursue a shift to a digital economy and also move forward with a concerted effort to further central bank digital currency (CBDC) development, Xi spoke at […]

Singaporean Man Sentenced to 3 Years Jail & 12 Strokes of Cane in 2018 Bitcoin-Related Scam

September 12, 2020 Frauds, News, Regional Eddy 0

In one of the harsher sentences ever meted out for being involved in a Bitcoin scam, a Singaporean man will be facing a three-year jail term and also corporal punishment, which the city island became infamous for in 1994 after sentencing an American teenager to six strokes of the cane for vandalism. Jaromel Gee Ming […]

Major Korean Bank Collaborates with Blockchain Firm to Introduce Blockchain-Based KYC

August 29, 2020 Blockchain, Blockchain Tech, News, Regional Eddy 0

Blockchain firm ICONLOOP is reportedly working with South Korea’s second largest commercial bank, Shinhan Bank and bringing blockchain tech to the KYC certification process that is necessary for certain financial offerings for bank customers, such as opening accounts. This will be done through ICONLOOP’s proprietary decentralized identity (DID) technology via its mobile app Zzeung. “This […]

Fidelity-Affiliated DIgital Assets Firm Obtains Hong Kong Regulatory Approval

August 22, 2020 Business, News, Regional, Regulations Eddy 0

Digital assets firm OSL Digital Securities, backed by investment company Fidelity, has been granted a principal license from Hong Kong’s Securities and Futures Commission (SFC), the first crypto business to do so under Hong Kong’s new crypto regulations, according to Reuters. Introduced in November 2019, under the new laws, it is not compulsory for crypto […]

Multiple Korean Banks Delving into Crypto Custody Services

August 15, 2020 Business, News, Regional, Regulations Eddy 0

According to South Korean news media Money Today Network (MTN), four major Korean banks are now vying for a piece of the crypto custody space, namely Woori, Shinhan, Kookmin and Nonghyup banks. Virtual assets and the crypto market have gained immense traction this year as it is increasingly known as a viable and alternative store […]

Singapore Crypto Association Releases New Standards to Oversee Crypto Practices

August 15, 2020 Blockchain Tech, Business, Fintech News, News, Regional, Regulations Eddy 0

The Association of Cryptocurrency Enterprises and Start-ups Singapore (ACCESS) has introduced a Code of Practice for crypto-related businesses in the country in collaboration with the Monetary Authority of Singapore (MAS) and The Association of Banks in Singapore (ABS), aimed at standardizing guidelines to “help digital asset players strengthen regulatory compliance”. This is supplementary material that […]

Category: Regional