Category: Asia
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Hong Kong considers removing the “Professional Investor-Only Requirement” and allowing retail investors to trade cryptocurrency.
Securities and Futures Commission (SFC) of Hong Kong’s director of licensing and head of the fintech division both confirmed that the regulator is taking into consideration allowing retail investors to invest directly in crypto assets. “We’ve been regulating this industry for four years… We believe that now might be a good time to seriously consider…
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Report: A bill to make digital currencies legal tender is being discussed in Macau
According to a report, Macau, one of China’s special administrative regions, recently finished debating a bill that would make digital currencies legal tender. A fine of between $123 and $1,230 may be imposed on those who refuse to accept legal tender, according to the report. Improving Macau’s Legal System An executive council of Macau, a…
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India freezes bitcoin at Binance amid a Wazirx cryptocurrency exchange investigation
More than 77.6 bitcoins that were transferred from the Indian cryptocurrency exchange Wazirx to Binance have reportedly been frozen by India’s Enforcement Directorate (ED). An investigation into money laundering involving a mobile gaming app is what prompted the freeze. According to India’s Prevention of Money Laundering Act, the Directorate of Enforcement (ED) announced on Wednesday…
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Xtreme Token officially launched the XTR utility token in Bangkok, Thailand
PRESS RELEASE. Dubai-based firm Xtreme Token officially launched the XTR utility token on September 16 in Bangkok, Thailand. Xtreme Token (XTR) is a BEP-20 traded digital asset native to the Xtreme ecosystem. With the vision of not being limited to the real world, but directly connecting and communicating with the crypto world creating the most…
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After the government began enforcing the new cryptocurrency tax, Binance saw a record rise in Indian users.
Since the Indian government started taxing cryptocurrency transactions, the number of Indian users on the cryptocurrency exchange Binance has increased dramatically. However, since the new tax laws went into effect, daily trading volumes at some significant cryptocurrency exchanges with headquarters in India have decreased by over 90%. After a 1% tax deducted at source (TDS)…
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Non-Transferable NFTs are given to local governments as rewards in Japan.
According to reports, the Japanese government is one of the first governments to award non-fungible tokens (NFTs) to local governments that excelled in a digitization competition as an additional prize. Local governments received the honors as a thank you for their efforts in utilizing digital technology to address local issues. Issuing and Distributing NFTs via…
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A Thai regulator accuses a provider of digital asset services of refusing to respond to an information request; the matter has been referred to law enforcement
The chief executive officer of Zipmex’s Thai unit, Akalarp Yimwilai, and the country’s securities regulator were recently referred to the Royal Thai Police’s technology crime division. The regulator claimed it took this action after Yimwilai and his business refused to provide information about customers’ digital wallets to a government official. Zipmex Fails to Share Details…
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Thailand’s new regulations mandate that cryptocurrency advertisements include explicit investment warnings.
Thailand has enacted stricter regulations that require cryptocurrency businesses to adequately disclose the investment risks in their advertisements. The new rules forbid companies in the sector from making false or exaggerated claims. According to Bloomberg and Reuters, Thailand’s Securities and Exchange Commission (SEC) has approved new guidelines for cryptocurrency advertisements. The modifications, according to a…
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Binance will support the development of the blockchain ecosystem in the South Korean city of Busan.
The South Korean city of Busan is receiving assistance from Binance to “grow crypto adoption within the city and beyond.” The development of the city’s blockchain ecosystem as well as the Busan Digital Asset Exchange will be assisted by the international cryptocurrency exchange. The Memorandum of Understanding (MOU) between Binance and Busan Metropolitan City was…