Asia's weekly TOP10 crypto news (Feb 12 to Feb 18)
1. Japan’s Weekly Summary 1.1 Japan’s Financial Services Agency Urges Financial Institutions to Strengthen Monitoring of “Illegal” Cryptocurrency Transfers link The Japanese Financial Services Agency (FSA) is encouraging financial institutions in the country to strengthen monitoring of “illegal” transfers to cryptocurrency trading platforms. The National Police Agency in Japan has analyzed and concluded that fraudulent activities causing losses related to illegal transfers primarily involve the use of cryptocurrency transfers. The FSA advises financial institutions to cease transfers to cryptocurrency trading platforms if the sender’s name differs from the account name. 1.2 Bitcoin Hits Historic High Against Japanese Yen, Reaching ¥7.9 Million per Coin link Bitcoin reached a historic high of 7.9 million yen on the Japanese cryptocurrency exchange bitFLYER this Monday. In comparison, the price of Bitcoin in terms of US dollars stood at $52,000, marking a 32% difference from its all-time high of $69,000 in November 2021. This price differential reflects the pressure faced by the Japanese yen due to the Bank of Japan’s (BOJ) continued loose monetary policy and inflation resurgence. Japan’s core inflation surged by 3.1% in 2023, marking the highest increase since 1982, while the yen depreciated by 8% in 2023. 2. South Korean Regulatory Body Plans to Prevent Unqualified Cryptocurrency Exchanges from Accessing the Korean Won Market link The Financial Intelligence Unit (FIU) under the South Korean Financial Services Commission has announced its 2024 work plan, aiming to prevent unqualified virtual asset exchanges from entering the Korean won market and strengthen report screening and anti-money laundering (AML) checks. In the first half of the year, the FIU will conduct preliminary reviews, considering money laundering risks, market operational capabilities, user protection, and other aspects. In the second half of the year, it will undertake thorough purges to expel unqualified virtual asset business operators. Additionally, the FIU plans to enhance business reporting requirements by revising the Specific Financial Information Act in the first half of the year to prevent unqualified virtual asset business operators from entering the market. 3. Indonesia Elects Presidential Team Supporting Cryptocurrency link Indonesia has elected a presidential team supportive of cryptocurrency. Former Defense Minister Prabowo Subianto and his running mate Gibran Rakabuming Raka will serve as the next president and vice president. They secured nearly 60% of the votes and are expected to take office in October. This signifies Indonesia’s continued pursuit of cryptocurrency-friendly policies. Prabowo has stated that his team will strengthen regulatory oversight on tax compliance for stock and cryptocurrency traders. 4. Hong Kong’s Weekly Summary 4.1 Crimes Involving New Technologies such as Virtual Currencies are Not Mainstream in Hong Kong link Hong Kong Independent Commission Against Corruption Commissioner Woo Ying-ming Danny, in an interview, expressed vigilance towards the potential misuse of new technologies for criminal activities, such as artificial intelligence, blockchain, or virtual currencies. He mentioned that while these cases are not currently mainstream in Hong Kong, they will be addressed by referencing the experiences of other countries or regions. 4.2 Hong Kong Police Have Developed Tracking Technology for Virtual Asset Transactions to Expedite Interception of Scams link Hong Kong Police Commissioner Raymond Siu Chak-yee stated that the Hong Kong Police Force has developed its own tracking technology for virtual asset transactions to expedite the interception of scams. He emphasized that many virtual assets involve complex fund flows through various wallets, and the goal is to quickly identify these flows through analytical systems for swift interception. Commissioner Siu also stressed the importance of citizens enhancing their awareness of fraud prevention, including downloading the police’s anti-fraud application. 5. Ethiopia Collaborates with Hong Kong’s West Data Group on a $250 Million Project link The state-owned Ethiopian Investment Holding Group has signed a memorandum of understanding with Data Center Service, a subsidiary of Hong Kong’s West Data Group, for a project valued at $250 million. The collaboration aims to establish cutting-edge infrastructure for Bitcoin mining and artificial intelligence training. Previously, mining service provider Luxor Technology estimated that Ethiopia has become one of the largest recipients of Bitcoin mining machines globally. 6. US Treasury Official: Hamas Uses Cryptocurrencies for Very Limited Funding link Brian Nelson, the Deputy Under Secretary for Terrorism and Financial Intelligence at the U.S. Department of the Treasury, testified on Wednesday that the terrorist organization Hamas receives minimal support in the realm of digital assets, contrary to earlier reports of it receiving millions of dollars in cryptocurrency. “Frankly, terrorists still prefer to use traditional products and services,” Nelson stated. 7. MEXC Exchange Bans Numerous Users from Mainland China Without KYC Verification link MEXC Exchange has recently started to mass ban users from mainland China who do not complete Know Your Customer (KYC) verification, allowing only contract closure and withdrawal permissions for those who are banned. Earlier, platforms like Bybit and KuCoin also implemented similar strategies. 8. Aptos Foundation Announces Collaboration with Web3 App Jambo to Launch JamboPhone link The Aptos Foundation has announced a joint venture with the Web3 app Jambo to introduce the JamboPhone, priced at $99. It comes preloaded with the Aptos ecosystem wallet Petra and JamboApp, providing direct access to the Aptos ecosystem and other ecosystems. Currently available in over 40 countries/regions, it aims to enable digital economies for users in Africa, Southeast Asia, and Latin America. 9. Com2uS Announces Collaboration with Oasys to Develop Web3 Games for the Japanese Market link South Korea’s largest mobile game developer, Com2uS, has announced a collaboration with the Oasys blockchain project to strengthen its Web3 gaming infrastructure and expand into the Japanese market. This partnership is expected to launch two Web3 games based on globally renowned IPs, including “Summoners War: Chronicle” and “The Walking Dead: All-Stars.” Oasys has previously collaborated with SoftBank, Sega, and Ubisoft. 10. Zhu Xiaohu: Bullish on AI Chips and Bitcoin-Related Stocks in 2024 link Venture capitalist Zhu Xiaohu of GGV Capital posted on social media, stating: “The most reliable investments in 2024 are AI chips and Bitcoin-related stocks: mining machines > MSTR > Coin > BTC.” Zhu Xiaohu previously purchased Bored Ape Yacht Club (BAYC) NFTs in April 2022, participated in STPEN’s running-to-earn-money project in May, and expressed his intention to return to China and invest in crypto in January 2023 on his social media circle. Follow us Wu Blockchain is free today. But if you enjoyed this post, you can tell Wu Blockchain that their writing is valuable by pledging a future subscription. You won't be charged unless they enable payments. |
Older messages
Cex Data in Jan: there's not much change in trading volume, with a 13% decrease in website traffic
Monday, February 12, 2024
The data analysis conducted by the Wu team indicates: In January, the spot trading volume of major exchanges increased by 2.6% month-on-month. The top three in terms of change rate were Bitfinex at 20%
Asia's weekly TOP10 crypto news (Feb 5 to Feb 11)
Sunday, February 11, 2024
1. The United Nations Investigates $3 Billion Worth of 58 Cryptographic Network Attacks Originating from North Korea link The United Nations sanctions monitors are investigating 58 suspected
Weekly Project Updates: Wormhole Reveals W Token Economics, EigenLayer Temporarily Opens Staking, ENS Contemplates…
Saturday, February 10, 2024
1. Wormhole Unveils W Token Economics link The cryptographic cross-chain bridge protocol Wormhole has unveiled the tokenomics of its native token W, with a maximum supply of 10 billion tokens and an
WuBlockchain Weekly: Dencun Upgrade Scheduled for March 13, Hong Kong Initiates Legislative Consultation on OTC Tr…
Friday, February 9, 2024
1. Ethereum Developers Plan Dencun Upgrade on Mainnet by March 13 link The Ethereum developers are planning to conduct the Dencun upgrade on the mainnet at block height 8626176, scheduled for March
Ethereum's New Experimental Token Standard ERC-404: A New Exploration of Token-NFT Integration - What Are the Risk…
Friday, February 9, 2024
Author: defioasis Token standards on Ethereum can be divided into ERC-20 fungible tokens (FT/Token) and non-fungible tokens (NFT) represented by ERC-721, both of which have been regarded as two types
You Might Also Like
Growth Through Participative Ideation | BanklessDAO Weekly Rollup
Saturday, September 7, 2024
Catch Up With What Happened This Week in BanklessDAO ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Bitcoin falls below $54k as market sees volatility following jobs data
Saturday, September 7, 2024
Bitcoin fell below $54000 as uncertainty over potential rate cuts led to heightened market turbulence. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
The fastest growing DePIN project 🔥
Saturday, September 7, 2024
How to get a free unlimited phone plan 📲
Weekly Project Updates: EIGEN Announces Second Season Airdrop, Ethena Concludes Second Airdrop, Matter Labs to Lay…
Saturday, September 7, 2024
The Eigen Foundation has announced the launch of the EIGEN Season 2 Stakedrop airdrop. For the second season, approximately 70 million EIGEN (around 4.2% FDV) will be allocated to stakers and operators
Curling at Futurist; Living on Litecoin; Flexa SDK launch
Friday, September 6, 2024
Ampera at the Blockchain Futurist Conference 🥌 ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
🥛 Will the Fed stick the soft landing? 🛬
Friday, September 6, 2024
PLUS: Crypto's top earners of 2024 (so far) 💰
Russia mined over $3 billion in Bitcoin last year, boosting tax revenue amid sanctions
Friday, September 6, 2024
Chainalysis warned that Russia could leverage local exchanges like Garantex for tax evasion efforts. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
NFT & Blockchain Gaming Weekly - 🐱 CryptoKitties resurges as its ‘Egg’ NFTs soar by over 40x; BAYC announces a pa…
Friday, September 6, 2024
CryptoKitties resurges as its 'Egg' NFTs soar by over 40x. BAYC announces partnership with BMW and releases a mini-game. Mysten Labs launches gaming device SuiPlay0X1, integrating the Sui
WuBlockchain Weekly: Japan May Continue Rate Hikes, 96% of NFTs Approaching 'Death', CZ Banned for Life from Manag…
Friday, September 6, 2024
The US reported an increase of 99000 jobs in August according to the ADP employment data, marking the smallest growth since January 2021, falling short of the expected 145000. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
🥛 Waddup, fat app! 🍔
Thursday, September 5, 2024
We need a wellness check on the crypto ETFs, stat!