If you’ve had a busy week just like the crypto world, here are the top news events that took place all over Asia, which you can’t afford to miss. Bitcoin (BTC) started the week $8217.90, and after a rollercoaster ride, it is currently trading at $8120.93 as the week comes to an end.
Japan shows support for crypto with new regulations.
Japan’s Financial Services Agency (FSA) issued a draft of guidelines for investments done in crypto assets on 30th September. The new guidelines advise the funds to be cautious while investing in crypto-assets and keep the possible risks like volatility and liquidity in mind. Recent changes in guidelines were made, keeping in mind the unexpected collapse of Mt Gox in 2014 and the hacking of Coincheck in 2018.
Japanese brokerage firms unite to boost STOs
Recently, six major brokerage firms from Japan have come together to form a Security Token Offering Association in Tokyo. Rakuten Securities, Nomura Securities, Daiwa Securities, SBI Securities, Kabu.com Securities, and Monex have teamed up to promote the STOs as a fund-raising model in the country.
China’s mining firm denies fire rumors
On 30th September, a video circulated on Twitter showing a building burning down, and it was reported that it belonged to ASIC mining rigs manufacturers, Innosilicon. However, on 1st October, Innosilicon tweeted and called it fake news and informed people that there had been no damage to Innosilicon property or miner equipment in any way. It was told that equipment worth $10 million burned down in the “mining farm fire.”
As @OGBTC already broke it, here is the real footage of a local mega farm caught on fire…
Which claimed a lost of $10M worth of mining machines pic.twitter.com/bMihmIwTNO
— Dovey Wan 🗝 🦖 (@DoveyWan) September 30, 2019
In the last couple of days,a rumor is circulating about a fire in alleged Innosilicon farm causing ten million dollars miner equipment loss. We can say with 100% certainty that the fire was not related to Innosilicon and there has been ZERO Innosilicon property or equipment loss.
— Innosilicon Miner (@Inno_Miner) October 2, 2019
Bithumb Global planning to enter India with regulated crypto exchange
South Korean exchange Bithumb’s co-founder, Javier Sim, informed his plans of entering India with a regulated cryptocurrency exchange in partnership with local crypto exchanges. India is still awaiting a review on the crypto ban, and amid this, Javier is willing to talk and work with the regulators to bring back the crypto wave in India.
Australian tech firm to run energy trading trials in Kento Region
Power Ledger, an Australian tech firm, has decided to run blockchain-enabled energy trading trials in the Kanto region in Japan. In association with electricity retailer eRex and solar provider Sharing Energy, Power Ledger is running the tests to track surplus solar energy levels and demonstrate the benefits of distributed energy systems. Participants will be able to set the prices and track the energy trading process in real-time to understand the settlements of solar transactions.
Electricity prices to go up for crypto miners in Uzbekistan
Ministry of Energy in Uzbekistan has introduced a new bill in which the electricity price per unit might increase for the cryptocurrency mining industry. This move is carried out by the government to spread awareness regarding power saving, the effectiveness of power consumption, and the excessive electricity needed by the mining industry. According to the bill, the miners will have to pay 3 times what they are paying now, irrespective of their power capacity.
Hands tied of Indian Police due to India’s Crypto ban
The cybercrime unit of Pune police hired a company called Discidium Internet to convert 244 BTC (INR 14.7crores) into rupees, but the crypto ban led to freezing the company bank account. This amount of BTC was seized from a Bitcoin ponzi scheme in 2018. Discidium Internet has challenged the RBI’s order and requested RBI to instruct the Central Bank of India to unfreeze their bank account and give access to the Bitcoins.
Nomura Holdings and Line App ready to form blockchain alliance
Nomura Holdings, Japanese messenger app Line, and LVC Corporation have come together to explore the blockchain industry for business opportunities. These companies are forming a capital alliance and financial alliance to focus on blockchain technology and its development for a better future.