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.

South Korea

Exchange Accidentally Drops Tokens to Users: Coinnest, a South Korean exchange accidentally airdropped cryptocurrencies worth USD 5.3 million to its users. The incident occurred when the exchange executed a command to airdrop We Game Tokens (WGT). A computer error caused other cryptocurrencies to be used instead of WGT.

A leaked footage of Samsung’s upcoming S10 mobile hints that it may have a built-in crypto wallet feature. The wallet feature has been labeled as “Samsung Blockchain Keystore” and apparently supports only Ethereum at the moment.

Japan

Financial Institution Funds Blockchain Project: The Tokyo-based financial institution, SBI Group, has funded crypto smart card wallet company Tangem. The reported amount is to the tune of USD 15 million. Tangem is one of the pioneering companies in blockchain that has created an ultra slim hardware wallet that it describes as “physical banknotes of bitcoin.”

The Japanese government has approved the trial of a Yen pegged stablecoin under its new sandbox regulations. The Yen based stablecoin will be tested by a subsidiary of the Japanese giant internet group, Digital Garage.

Singapore

Regulator Stops Token Event: The Monetary Authority of Singapore (MAS) has ordered the halt of a token generation event that aimed to distribute security tokens. The regulator insists that all security token offerings have to register with MAS and seek permission first.  An exemption is allowed if certain rules are followed, that include advertising. The issuer of the security token apparently violated the exemption rule by setting up a promotional article on LinkedIn.

Standard Chartered Singapore division has successfully completed its first blockchain based trade finance deal. The use of blockchain enabled an agricultural deal to be finalized and completed within a day. Normal, traditional banking in the country take around 5 days for the complete process.

Malaysia

New Regulations Introduced by Malaysian Government: To date, an astounding 15 new regulations have been introduced by the Malaysian government in a bid to bring order to the country’s chaotic crypto market. Such a large number of regulations may seem counterproductive to the crypto friendly country, but the government insists that through these, investors will gain confidence due to improved securities.

Thailand

Stock Exchange to Launch Digital Exchange: Stock Exchange of Thailand (SET) is set to start a regulated, fully compliant digital asset exchange in the country. The country’s national stock exchange will apply for the necessary licenses in the next year though, as reported by The Bangkok Post.

China

Chinese Varsity Teams up with Ripple: A Chinese university has teamed up with Ripple, the cryptocurrency aimed towards banks, to start a blockchain research scholarship. Beijing’s Tsinghua University’s Institute for Fintech Research announced the Blockchain Technology Research Scholarship Program that will bring the best and the brightest of the Chinese nation to study blockchain, its industry, and impacts.

Australia

ATM Operator Increased Sales: The crypto market may be down globally, but one bitcoin ATM operator in Australia says otherwise. Auscoin is an ATM firm that runs more than 30 automated teller machines across the continental country. According to the company, it generates USD 360,000 a week in sales through the selling of bitcoins.

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