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Binance Embraces Visa, Mastercard for Crypto Purchases

Binance Embraces Visa, Mastercard for Crypto Purchases

The world’s largest cryptocurrency exchange by volume, Binance, is to enable the purchase of cryptocurrency using both Visa and Mastercard credit cards. The announcement yesterday that users would now be able to Bitcoin (BTC), Ether (ETH), Litecoin (LTC) and Ripple (XRP) using their credit cards has come as a boon to regular users of the exchange. The new facility has …


Malaysian Crypto Market on Par with Equity Crowdfunding, P2P Financing

Malaysian Crypto Market on Par with Equity Crowdfunding, P2P Financing

A news report today by news outlet The Star Online has revealed that digital asset trading in Malaysia will now be recognized as a market on equal footing with equity crowdfunding (ECF) and peer-to-peer financing (P2P). According to the post, the Malaysian financial regulator, Securities Commission (SC), made the announcement earlier today in a briefing with the press when it highlighted …


Chip Makers Blame Slow Profits on Mining Slump, Phone Sales Also Down

Chip Manufacturers Blame Mining Slump But Phone Sales Also Down

Taiwanese chip manufacturer United Microelectronics Corporation (UMC) has blamed its 10% drop in revenue for the last quarter of 2018 on a downturn in mining. Mining hardware sales are always affected when the demand for cryptocurrency is slow, due to reduced levels of mining activity, but there are some who feel mining is too often the scapegoat for a drop in …


SBI, R3 Venture to Further Adoption of Enterprise Blockchain

SBI, R3 Venture to Further Adoption of Enterprise Blockchain

A notice released today by Tokyo-based financial service firm SBI Holdings has revealed a joint venture with R3 where it holds a major outside shareholder, to further the adoption of enterprise-grade blockchain solutions. As per the notice, the joint venture is to be sited in Eastern Asia and will take JPY 500 million (USD 4,572,500)  to set up. Expectations include facilitating the …


Bank of Korea Says No Urgent Need for CBDC

Bank of Korea Says No Urgent Need for CBDC

South Korean news agency The Korean Herald reported today that the nation’s central bank has said it has no plans of issuing a digital currency in the near future. Cryptocurrency has taken center stage in many financial institutions around the globe and has found its way into major economic discussions in recent times, this includes the World Economic Forum held …


South Korean Crypto Exchanges Combine to Tighten AML Security

South Korean Crypto Exchanges Combine to Tighten AML Security

South Korean exchanges Coinone, Corbit, Upbit, and Bithumb have joined in implementing heightened levels of anti-money laundering (AML) security in view of high-level hacks over time. Despite the country’s high level of regulation, requiring companies offering cryptocurrency products to implement AML security, hackers have proven to find ways of infiltrating some exchanges’ safeguards. The four exchanges will focus on activities …


Asia and Australia: Crypto and Blockchain News Roundup 19 to 25 January 2019

Asia

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 …


Iran’s Proposed Rial Revaluation Could Open Door for Bitcoin

Iran’s Proposed Rial Revaluation Could Open Door for Bitcoin

The Central Bank of Iran is proposing a further step towards the long-debated revaluation of the country’s national currency, the rial. It paves the way for Bitcoin to find more prominence in an already struggling economy. Central Bank governor Abdolnaser Hemmati made the following comments yesterday, suggesting that government mismanagement has finally led to the government being forced to take …


Accidental Airdrop Made Exchange Users $5.3 Million Richer

Airdrop

South Korea-based crypto exchange Coinnest has announced that it accidentally sent cryptocurrencies worth USD 5.3 million to its customers during an airdrop. The exchange is now trying to take back its lost assets. The incident occurred when the exchange was trying to airdrop We Game Tokens (WGT). Last year, Kim Ik-hwan, CEO of Coinnest, was arrested by South Korean police …


Can Japan Make Bitcoin Splash at Tokyo Olympics?

Can Japan Make Bitcoin Splash at Tokyo Olympics?

Those promoting the adoption of Bitcoin and other cryptocurrencies as a form of payment in Japan will be hoping that next year’s Games of the XXXII Olympiad (Tokyo Olympics) will bring out the crypto spenders. The Japanese are traditionally a nation of cash spenders, unlike China and South Korea who have taken more to credit and debit cards for their …


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