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Istanbul Cryptocurrency Firm Loses $2.47 Million, Hackers In Custody

An undisclosed cryptocurrency exchange in Istanbul, Turkey was hacked this week of a reported USD 2.47 million. The company was attacked by a group which has now been detained by Turkish authorities after a nationwide investigation across 8 provinces, and so far has only recovered USD 256,000 of the stolen funds. The exchange alerted the authorities at the time, reporting …

Depreciating Cost of Mining Machines, Bitcoin Price Hit GMO Group

Its latest company report published this week confirmed that the GMO group suffered losses of JPY 1.3 billion (USD 12 million) in 2018, mainly due to a drop in cryptocurrency mining activity. A company spokesman for the Japanese company which supports internet infrastructure, internet finance, and cryptocurrency mining business, put the down the losses to the declining price of Bitcoin in …

Indonesia’s New Crypto Rules Tough on Futures Trading

Indonesia’s New Crypto Rules Tough on Futures Trading

Newly-released rules for Indonesia’s cryptocurrency sector have been met with concern by industry players, who accuse the government of limiting the industry’s effectiveness, as reported by the Jakarta Post. New government regulations, given the green light last week, require cryptocurrency traders to maintain a deposit of IDR 80 billion (Indonesian rupiah or approximately USD 5.7 million) in order to participate …

Chinese Billionaire Claims Bitcoin Patience Will Reap Rewards

As the much-discussed intuitional investment, hailed as cryptocurrencies jumpstart to a new crypto era, still awaits, a Chinese Bitcoin billionaire calls for patience. Zhao Dong, one of the world’s largest over-the-counter traders of Bitcoin, made the plea to the industry suggesting that it could be well into the year before the market gets the boost it needs. The entrepreneur was …

UnionBank in Philippines Launches Crypto ATMs

UnionBank in Philippines Launches Crypto ATMs

Crypto adoption in the Philippines continues to take form with the Union Bank of the Philippines (UnionBank) launching a two-way cryptocurrency ATM under its sandbox program. In a statement to local media outlet The Philippine Star, the bank said: “The bank’s continued quest to cater to the evolving needs and tastes of customers, including clients who use virtual currency, the …

South Korea’s “Sampo Generation” Find Escape in Crypto Amid Rigid Society

South Korea's _Sampo Generation_ Find Escape in Crypto Amid Rigid Society

For many of South Korea’s millennials, cryptocurrency has proven the only way to escape the rigors of the country’s social demands. Many of South Korea’s young are now calling themselves “dirt spoons”, a reference in South Korea to economic and social status, with gold and silver spoons being the best off and dirt spoons being the worst. Older Koreans refer …

Asia and Australia: Crypto and Blockchain News Roundup 2-8 February 2019


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. Malaysia New Amendments for Digital Asset Markets: Malaysian financial regulator, the Security Commission announced amendments to its Guidelines on Recognized Markets, bringing digital asset and crypto trading at par …

Philippines Sets Out Digital Asset Token Offering Regulations

Philippines Sets Out Digital Asset Token Offering Regulations

The Philippines is about to set its new regulations for the cryptocurrency industry in the South East Asian county, overseen by the regulatory body, the Cagayan Economic Zone Authority (CEZA). The new rules, which require all operators of cryptocurrency firms operating in the country to submit more thorough documentation, will be called Digital Asset Token Offering (DATO) regulations; an exchange will …

India Seeks External Advice on Crypto Regulation

India Seeks External Advice on Crypto Regulation

A Right to Information (RTI) report has revealed that the Indian government is seeking outside legal help in order to finalize its long-awaited cryptocurrency regulations. The Indian government is still under pressure over the cryptocurrency debate. As time moves on, it is becoming hard to see how the government will be able to hold back the inevitable tidal wave of …

Report: Japan, South Korea Playground for Bad Actors in 2018

Report: Japan, South Korea Playground for Bad Actors in 2018

The latest CipherTrace report into cybercrime has revealed that much of the USD 1.7 billion worth of cryptocurrency stolen in 2018 came from the Asian Bitcoin arena of Japan and South Korea. In the “Cryptocurrency Anti-Money Laundering Report, 2018 Q4”, it is stated that out of the funds either stolen through hack or scams, about USD 950 million came from cyber …

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