Friday, July 30, 2021

Crypto news from Asia: Week in review

The Takeaway:

Week in review: 21 Sep - 28 Sep 2019. Asia persists a contradictory connection with the Crypto world. Where some countries embrace the spirit of cryptocurrencies, others try to regulate it. Miss nothing and stay acquainted with the weekly Asian crypto trends.

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Asia is a crypto money hearth. Several Asian countries have evolved as influential leaders in the cryptocurrency space. The national adoption of digital coins reflects its global growth. Asia accounts for major mining and trading of cryptocurrencies.

 

Crypto News from India

Blockchain interest surges by 700%

The interest of Indians in Blockchain has sprouted immensely. According to the reports by Applancer.com, India has shown a keen interest in Blockchain technology with the demand increasing by 700% in the past few years. The report cites a higher demand in the Southern region. The involvement of specialists in blockchain development has risen by 75% since 2017. 

 

Crypto News from China

Fintech firms’ investments surge amidst the upcoming launch of China’s Crypto 

The imminent launch of Beijing’s digital currency has led to sprouting investments in China’s fintech stocks. The CSI fintech theme index, a tracker of major financial technology firms, has gained more than 50% so far this year. Beijing Certificate Authority and 360 Security Technology Inc. are among the big gainers with a jump of 200% and above 50% in shares respectively.  

 

China’s digital currency holds no timetable for its emergence

China dismissed the reports circulating about the launch of its cryptocurrency. Yi Gang, the governor of the People’s Bank of China (PBOC), denied the speculations of the country launching its central-bank backed cryptocurrency in November. As clarified, the currency will not replace the Yuan in the retail sector and will follow every necessary regulation before coming into action. 

 

Crypto News from Japan

BitFlyer supports five new altcoins

BitFlyer, the Tokyo-based crypto exchange has added five new altcoins to its Europe and United States platform. Bitcoin Cash (BCH), Ethereum Classic (ETC), Litecoin (LTC), Lisk (LSK), and Monacoin (MONA), are now available for buying and selling in Europe; however, the US customers have access to only three of these coins, BCH, ETC, and LTC

 

Kuroda calls for international participation for crypto regulation

Bank of Japan’s Governor, Haruhiko Kuroda urges for global cooperation in the regulation of the cryptocurrencies. The governor took under consideration the severe impact Libra can impose on the society and highlighted the supreme importance of international solidarity to apply the highest level of regulations on digital assets. 

 

Japan possesses the fairest trading platforms

BTI market surveillance reported Japan’s leading position among the countries with the cleanest crypto exchanges. The Blockchain Transparency Institute stated the legal and regulatory standards as the main reason behind honest trading. 

 

Crypto News from South Korea

Upbit lists Kakao’s crypto

Klay, the cryptocurrency of instant messaging giant Kakao now features on Upbit Indonesia and is soon expected to list on Upbit Singapore.

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Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Thomas Gonzales
Thomas Gonzales
Thomas is a Stanford University graduate who loves to talk about the financial world. Though he has a demonstrated history of working in the real estate industry but ever since he came into the crypto space, he has developed a keen interest in researching and writing about bitcoin and blockchain.

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