Asia and Australia

Welcome to another weekly blockchain news roundup from around the world. Here we present to you all the latest Bitcoin news continent by continent and country by country.

China

US-China Trade war may have fueled BTC price: The Bitcoin price index may have recently benefited from the recent barbs exchanged between China and USA as their mutual trade war intensifies. Ever since Donald Trump has announced the latest increase in tariffs, BTC price index has shot up more than 25%.

The Yuan itself is now at its lowest level in six months and apparently, Bitcoin price and the Chinese currency show an inversely proportional trend. 

India

Trade body calls for crypto regulation in Regulatory Sandbox: Indian tech and crypto lobbyists are now working in full swing to introduce industry-friendly regulations in the country with a latest effort to include crypto startups in the regulatory sandbox being constituted by the government for fintech sectors.

The second most populous nation in the world has a blanket ban on cryptocurrencies which is stifling the growth of the sector in the whole region. It is hoped that with the inclusion of crypto startups into the sandbox, more and more legitimacy will be given to the sector which will eventually result in better understanding and recognition by the government. 

Facebook’s Stablecoin will be tested in India: Facebook’s latest stablecoin project will be tested in India, the largest userbase of the social media service in the world. The reason is that there are some challenging laws that forbid the pairing of bank accounts with crypto related projects. 

It is yet to be seen how Facebook will handle the project in the country. 

Thailand

Central Bank Signs Partnership with Hong Kong for Central Bank Digital Currencies: The central banks of Thailand and UK have recently agreed on a partnership to jointly work on different projects including one on the development of Central Bank Digital Currencies. 

According to the latest development, Hong Kong Monetary Authority (HKMA) and the Bank of Thailand (BoT) will work together on the project alongside each other as the decentralized sector becomes more and more appealing for the banking regulators around the world. 

Japan

IBM Country Head Talks Blockchain: The head of the IBM’s Japan blockchain operations Tsuyoshi Hirayama has expressed his views regarding blockchain technology and said that the application of blockchain technology differs on a case to case basis. 

He also welcomed increasing competition in the sector and hoped it would bring more benefit to the industry. 

South Korea

Hacked Exchange Bithumb Resumes Post Hack Operations: Bithumb, the cryptocurrency that had multiple hacks in recent history is now hoping to resume its services after months long hiatus. Only three cryptocurrencies, namely XRP, Bitcoin Cash and EOS will be allowed for trading for the time being. 

Bithumb has been working with law enforcement agencies to ensure the protection of its funds following the hacks and went on a rehabilitation program. 

In other news, the South Korean government is now looking to stop bringing cryptocurrencies under regular Anti Money Laundering Laws (AML) and is now looking to bring them under their own unique direct regulations. 

Australia

CommBank of Australia and World Bank do the First Blockchain Bond Bank Transactions: The World Bank and the Commonwealth Bank of Australia (Commbank) have recently completed their first ever blockchain bond transaction. 

The banking institutions were able to record a secondary transaction for bond-i, a blockchain debt instrument based on distributed technology for this purpose. The bond was issued by the World Bank. 

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