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.
New Regulations Released for Protecting Investors: The Japanese Financial Services Agency (FSA) has recently released new regulations for cryptocurrency exchanges in the country. The move comes despite new self-regulatory moves by the Japanese cryptocurrency exchange association in recent weeks.
The new regulations are aimed at addressing different hacking incidents, privacy issues and margin trading within exchanges. In addition, the regulation also targets Initial Coin Offerings (ICOs) and their workings. According to FSA, more than 11 meetings were held by an agency study group before finally proposing these new regulations.
The Japanese Virtual Currency Exchange Association is yet to devise a strategy based on these latest regulations.
Port Receives Blockchain Updates for Logistics Purposes: A partnership between different government ministries is working to modernize the logistics system of the South Korean port of Busan using decentralized technology. Busan is one of the largest and busiest ports of transit in the world.
The South Korean ministries of Science, ICT and Future Planning (MSIP) and Ministries of Oceans and Fisheries are working together on this project with the main intention of increasing container efficiency. The trial will begin this month at the Busan port.
Busan port is also partnering with IBM and its shipping platform for increasing efficiencies.
Media Alliance Looking to Use Blockchain for Copyright Protection: Recently, a media copyright protection alliance was formed in the Chinese capital of Beijing to use the latest technological advantages for media copyrights preservation purposes, states a segment from state-run International Finance News.
According to Qi Huisheng, Secretary of the former Communist Party group of the China Association of Journalists:
“Reporters and newspapers should establish copyright awareness, solve common problems in copyright protection through technology and other means, and actively communicate with relevant technical teams to protect original copyright…”
It is yet to be seen how the new alliance will act in the future for this purpose.
Government to Tighten Crypto Laws After a Lax Period: The Hong Kong government’s securities arm, Securities and Exchange Commission is set to tighten the laws related to cryptocurrency regulation in the country.
The move includes the commissioning of a temporary regulatory sandbox for companies before they attempt to ask for a license to operate. Hong Kong has historically seen one of the laxest laws when it comes to cryptocurrency regulation in the world but now the government seems focused to introduce tougher legislation to have more control in the matter.
Research Shows Economy may Benefit from Blockchain: A New Zealand-based study has shown that the Kiwi population will benefit from adopting blockchain technologies. The research titled ‘Distributed Ledgers and Blockchains: Opportunities for Aotearoa New Zealand‘ was conducted in the country by Callaghan Institution, a state-run innovation and research hub.
The research found out that the country’s burgeoning Information Technology (IT) sector will be complemented by the adoption of the new distributed approach. The sector already generates more than 16 billion dollars for the economy and employs 100,000 people.
However, the report also said that banking restrictions are hampering the development of the DLT sector and that is why only a small portion of the ICO industry made it to the Kiwi shores. The research calls for urgent action by the government in this regard.
Students Using Bitcoin to Transfer Money After Sanctions are Reimposed: Iranian students living in the United Kingdom are using bitcoin for international money transfer after the USA unilaterally imposed sanctions on the country again. The sanctions were especially hit hard on the SWIFT international money transfer system that is controlled by the US and such that Iranians face a lot of trouble in sending money from abroad.
A small number of Iranian students living in the UK are now using Bitcoin to transfer money. The number may grow in the future as the people run out of options.
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