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Share prices in Asia rebounded Friday on a report that President Trump and his Chinese counterpart, Xi Jinping, may meet at the Group of 20 summit in Argentina in late November.
In the U.S., Wall Street was set for an optimistic open. S&P 500 futures rebounded 1.3% to 2,781.50. Dow futures were…
Asian markets were broadly lower Thursday after Wall Street slumped on a heavy selling of technology and internet stocks.
Japan’s benchmark fell by an unusually wide margin of 3.9 percent, and China’s main index lost 4.3 percent. Markets in Hong Kong, South Korea, Australia and Southeast Asia recorded…
The number of jobs and job seekers in the Asian crypto space is growing, according to leading recruiters in the region. Also in The Daily, Colombia may soon become a crypto-friendly nation, California and Russia want to use blockchain tech for insurance and pensions, and Malaysians remain bullish on cryptocurrencies, despite market trends this year.
More Jobs and Job Seekers in the Asian Crypto Space
Jobs in the crypto and blockchain industry in Asia are enjoying increasing popularity among job-seekers from other, traditional sectors. Data from job search engine Indeed’s platforms in the region, including India, Singapore, Malaysia, and Australia, confirm the strong interest in roles in the space. Also, there’s been a 50 percent increase in the number of openings in the field since 2017, according to recruitment firm Robert Walters.
Many of the candidates, however, come from a different professional background, as the sector is still in its infancy. “We hardly ever hire from inside of crypto because most people are very inexperienced. You have very, very few experienced people who get into the crypto industry,” says Julian Hosp, co-founder of Singapore-based crypto wallet and card provider Tenx, quoted by CNBC. He also notes that the number of applicants depends on market trends.
“Not many people have the actual skill sets”, adds John Mullally, director of financial services at Robert Walters in Hong Kong. Professionals that are currently entering the sector come from a wide range of backgrounds, not only tech and financial. Many of them have prior experience in marketing, public relations and operations, the recruiting specialists point out. The findings come after earlier this week Hong Kong, a major Asian economic and financial hub, announced it’s updating its policies to facilitate the immigration of fintech professionals.
Colombia to Cut Taxes for Crypto Firms to Create Jobs
Colombia may become the next jurisdiction to create a favorable business climate for companies in the crypto and blockchain space. In an opening speech at an annual information and communication tech congress, the country’s new president, Ivan Duque, revealed his administration’s commitment to cutting down rent taxes for crypto startups for a period of up to five years. The main motivation behind the proposal is to stimulate the creation of new jobs in the industry.
According to a report by the Colombian newspaper El Tiempo, the president also declared his support for exploring the implementation of blockchain technologies in order to improve key sectors such as security, health and also curb corruption by tracking the use of public funds. “If we want to overcome corruption, technology can be instrumental. The government must start by setting an example. We take it seriously, we want a modern Colombia,” Duque stated.
The president’s remarks come just weeks after Ivan Duque took office as a head of state of the South American country. He is an acknowledged financial expert in Colombia, also known as a technology enthusiast. Representatives of the local crypto community have expressed optimism as Duque’s administration is replacing a government that was not really crypto friendly.
Blockchain Bill in California, Blockchain Pensions in Russia
The California legislature has passed a draft amending the state’s Insurance Code to lay down the basis for implementing blockchain technology, electronic signatures and smart contracts. The updated legal framework will allow the introduction of electronic records and signatures secured with blockchain. Assembly Bill 2658 also adds the term “smart contract” to the legal definition of contract which legalizes the use of blockchain-based electronic signatures in contractual relations. Lawmakers have also amended the Californian Civil Code to incorporate a legal definition of blockchain technology.
In another blockchain-related development, the Russian state pension fund has announced plans to implement the technology to monitor and track employment contract data. The management of the Pension Fund of the Russian Federation (PFR) hopes to minimize its expenses for maintaining large volumes of data. PFR is currently working on proposals to consolidate all its information systems into a single digital platform that will be based on the distributed ledger technology. Another idea under development is to introduce smart contracts and electronic signatures in labor relations.
Malaysians Still Interested in Buying Cryptocurrency
Despite the bearish trend in crypto markets this year, Malaysians seem to be more interested in acquiring cryptos, mainly for speculative purposes, than selling the digital coins. The prices of most cryptocurrencies have fallen significantly since last year’s all-time highs but demand for cryptocurrencies in the country remains strong and encouraging, according to Yusho Liu, co-founder of crypto exchange Coinhako.
“The buy side is still very robust. Generally, there have been more buyers than sellers over the years. The more people know about it, the more they will be interested in buying into the future,” he told the local outlet Sun Biz. The entrepreneur shared his observations that most clients of his platform buy and hold digital assets and the participation of mainstream traders has increased in the past six to nine months. “In the long run, we’re still bullish on cryptocurrencies,” Yusho Liu stated.
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The post The Daily: Asian Crypto Jobs on the Rise, Colombia to Cut Taxes for Crypto Firms appeared first on Bitcoin News.
Derek Holland has issued an apology for doing an insensitive Asian impression on an MLB talk show … saying, “It’s embarrassing what I did.” The San Francisco Giants pitcher went on MLB Network’s “Intentional Talk” on Wednesday and brought along…
Chinese exchange Zb.com has set up a branch in Thailand with a plan to turn it into the regional crypto trading hub in Southeast Asia. The move came as the Thai government finalizes the country’s regulatory framework for cryptocurrencies and initial coin offerings.
Creating Regional Hub
Chinese cryptocurrency exchange and wallet provider Zb.com recently announced that it has set up a full-fledged branch in Thailand, called Zbthailand (Zbth), with the aim for it to become the regional crypto trading hub in Southeast Asia, according to local media.
Zb.com already has a presence in China, the US, Canada, Switzerland, Australia, and South Korea, Matichon publication detailed, adding that Zb.com currently has over 3 million customers. According to Coinmarketcap, Zb.com lists 59 coins with a 24-hour trading volume of $ 160 million.
Dawei Li, the exchange’s co-founder, told the publication:
The company plans to expand its digital currency trading platform in Thailand…in addition to providing knowledge and understanding of blockchain technology and investment in digital assets to Thai investors, including recruiting strategic partners to attract more foreign investors to invest in Thailand.
The new exchange offers the trading of 16 cryptocurrencies against the Thai baht, BTC, and ETH. The supported cryptocurrencies at the time of this writing are BTC, LTC, BCH, ETH, ETC, EOS, QTUM, NEO, SNT, AE, ICX, ZRX, EDO, FUN, MANA, and TZB. “All transactions fees are 0.1%,” according to the new exchange’s website.
In November last year, Zb.com partnered with licensed Japanese exchange Quoine and Chinese bitcoin mining solution provider BW.com “to support and facilitate liquidity across isolated cryptocurrency & fiat markets,” the companies jointly announced.
Thailand’s Crypto Regulatory Framework
The decree to regulate cryptocurrencies and initial coin offerings (ICOs) went into effect in Thailand on May 14, putting the Thai Securities and Exchange Commission (SEC) in charge of the regulation and “requires sellers and operators of such assets to register with the SEC within 90 days,” Reuters details. The last day for registration is August 14, according to Matichon publication.
The Commission is expected to issue the regulations by the end of June after holding a public hearing. SEC secretary-general Rapee Sucharitakul was quoted by Reuters:
Offerings of digital tokens will not be allowed until the regulations are announced.
According to Rapee, the public hearing will take approximately 2-3 weeks “because investments in digital tokens are complicated and carry high risks.”
What do you think of Zb.com setting up a hub in Thailand? Let us know in the comments section below.
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Bitcoin in Brief Thursday: OECD Explores Cryptocurrencies, Central Asian Powerhouse Calls for UN Crypto RulesMay 17, 2018 | dailybusinessnews
In today’s edition of Bitcoin in Brief we’re focusing on developments in the realm of international politics and economics regarding cryptocurrencies. The Organization of Economic Cooperation and Development is looking into the possible uses of digital coins and the associated technologies. Kazakhstan is calling for the adoption of common crypto rules by the United Nations, while Iran and Russia are thinking about using cryptocurrency in bilateral trade.
OECD Explores Cryptos and ICOs
The Committee on Digital Economy at the Organization of Economic Development and Cooperation (OECD) has started exploring blockchain-based cryptocurrencies and Initial Coin Offerings (ICOs). The international body also wants to help governments of member-states develop and implement legislation aimed at protecting consumer rights in electronic trade.
According to Elina Sidorenko, head of Russia’s interdepartmental group working to assess risks and opportunities associated with cryptocurrencies, the OECD will be used as a platform to discuss matters related to cryptos and token sales. These discussions will be held in the context of ensuring the safety of consumers of financial services, she said in a post on her Telegram channel.
The OECD and the Financial Action Task Force on Money Laundering (FATF) recognize the role of cryptocurrency as a means of payment and accumulation, Sidorenko emphasized. Both organizations also view ICOs as a good mechanism to attract funding, she added. “I hope that the generally positive rhetoric on cryptocurrencies in the OECD will not change,” the Russian official said, promising to keep her followers informed on further developments.
Astana Calls for UN Crypto Rules
Kazakhstan’s President Nursultan Nazarbayev thinks that the time has come to adopt common, international rules on cryptocurrencies with the help of the United Nations. “Most countries are actively exploring the possibility to adapt their regulations to the current configuration of the financial system. At the same time, the disconnected actions of different states will lead to inefficiency. It is necessary to develop general rules,” he insisted, quoted by Zakon.kz.
During the Astana Economic Forum, Nazarbayev noted that Kazakhstan’s own project to issue an assets-backed cryptocurrency called G-Global has won institutional support from international organizations. The initiative “has been mentioned on multiple occasions during the G20 summit. Last week the Council of Foreign Ministers at the Organization of Islamic Cooperation, which includes more than 50 nations, adopted a resolution to support it,” the president revealed.
Kazakhstani officials have previously said that G-Global will be designed as a crypto “backed by assets, not just trust.” These assets have not been specified so far but the Central Asian country is rich in natural resources. Kazakhstan is the leading economy in the region, generating 60% of its GDP, primarily through the oil and natural gas industry.
Recent reports that Kazakhstan’s central bank is preparing legislation to ban the sale and purchase of cryptocurrencies, as well as crypto mining, have been dismissed by representatives of the local crypto community. According to Leonid Muravjov, VP at the Blockchain and Crypto Technology Association of Kazakhstan, the government is actually spending huge amounts of money to digitize the economy, which is currently heavily reliant on the export of mineral resources.
Kazakhstan and Belarus to Cooperate on Blockchain
Astana and Minsk intend to strengthen their ties in the field of blockchain implementation. Kazakhstan and Belarus have signed a memorandum of cooperation that will allow experts from the two former Soviet republics to exchange experience and improve their competitiveness on the world stage through wider adoption of new technologies. Both countries are members of the Eurasian Economic Union (EAEU).
“The bottom line is that this (blockchain) is a multinational technology, and the development of some real solutions, both at state level and in the private sector, does not make sense in the context of a single state. The memorandum aims to develop the most optimal solutions through exchange of experience and personnel, and to share already working solutions based on blockchain technologies and cryptocurrencies,” said Stanislav Baskov, Director of the Belarussian Distributed Ledger Technologies Association.
According to a press release by Astana Hub, Kazakhstan’s IT Park, the agreement was signed during the international expo TIBO – 2018 in Belarus. It would allow Kazakhstan to take advantage of the Belarusian experience in blockchain and cryptocurrency integration. Recently, Minsk legalized crypto-related activities for entities registered with its Hi-Tech Park with a presidential decree that came into force on March 28.
Iran and Russia to Create Crypto Alternative to SWIFT
Recognizing the opportunity to minimize dependence on the US dollar, Iranian authorities have turned their attention to cryptocurrencies. Iran’s central bank has commenced work on proposals to use cryptocurrency in international trade, as requested by the parliamentary Committee on Economic Affairs, Interfax reported.
“Cryptocurrencies offer a good opportunity to circumvent the use of the dollar, and also replace the SWIFT system,” said Mohamad Reza Purebrahimi, who heads the commission. Teheran has established cooperation with Russia on the matter following a meeting with the chairman of the Economic Policy Committee of the upper house of Russia’s parliament, Dmitriy Mezentsev. Purebrahimi said that the two countries may be the first to use cryptocurrency in bilateral trade transactions.
“Against the backdrop of US pressure, the expansion of settlements in national currencies, as well as the possible use of payment systems like [the Russian] Mir and the Iranian Shetab is promising,” Mezentsev commented. According to official sources quoted in Moscow, Russia may put its version of SWIFT, the SPFS, on blockchain as early as next year.
What are your thoughts on the highlights in today’s Bitcoin in Brief? Tell us in the comments section below.
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PR: Ubcoin Market Receives Investment from Singapore-Based Amereus Group for the Expansion into the Asian MarketMay 9, 2018 | dailybusinessnews
This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.
A Singapore-based VC fund specializing in groundbreaking tech projects has become an investor in Ubank’s blockchain ecosystem for selling and buying real goods with cryptocurrency
Ubank, the leading mobile payments app in the Eastern Europe, announced that it has secured an undisclosed amount of funding from the Singapore-based VC fund Amereus Group for the further development of its peer-to-peer blockchain platform Ubcoin Market that would allow its users to acquire cryptocurrency in exchange for real goods and its promotion in the booming Asian market.
Amereus Group is an investment fund supporting innovative tech-enabled businesses in fintech, blockchain, IoT, e-commerce, cloud services, biomedicine, mobile Internet, EdTech, VR, and AR. The fund’s portfolio includes biotech companies Cleabridge Health and Liquidia, a crowdinvesting platform Capbridge, an online aggregator of logistic carriers for international cargo Deliver, and other projects.
“We are excited to announce our decision to support the development of Ubcoin Market and its expansion into the Asian market. Ubcoin Market will become an integral part of Ubank, an app that has been successfully operating in the Eastern Europe for more than 5 years now and that is pre-installed on all Fly and Samsung smartphones, which is particularly impressive considering that only 9% of all ICO projects have a working business and/or product prior to the start of their crowdfunding campaign,“ comments Rim Hosup, Director at Amereus Group. “Apart from that, Ubank has ensured that their blockchain product meets all KYC and AML requirements and has conducted due diligence and all the other procedures proving the stability, transparency, and legality of the company and its structure. It is another very important point that sets Ubcoin Market apart from the majority of ICO projects and that has naturally influenced our decision”.
Ubcoin Market utilizes blockchain technologies to create an easy-to-use tool that would solve problems of people wishing to enter the world of crypto investments in a hassle-free manner as well as of experienced blockchain market participants in need of a convenient method of spending their crypto wealth. The project is planning to start its expansion into the Asian market during the 2nd and 3d quarters of 2019. Ubcoin Market is going to conduct a detailed preparatory research of separate national markets in order to adjust their product development strategy for local cultures, and Ubcoin Market’s partnership with the Singapore-based Amereus Group will be highly valuable in that respect.
“Asia is the most promising market for the development of our business — we believe that it is in these countries that our product will be most popular. That’s why we are thrilled to become partners with the investment fund Amereus Group that is willing to provide a financial support as well as a deep insight into different national markets of the continent,” says Felix Khachatryan, CEO and one of the co-founders of Ubank and Ubcoin Market.
Amereus Group is the third major investment fund that has supported Ubank: in 2013, Ubank received an $ 8 million investment from Runa Capital and, in April 2018, an undisclosed amount of funding from Inventure Partners.
Ubcoin Market is open to collaboration with other investment funds and pools focused on the ICO market and encourages them to contact the project now, at the stage of its token sale, when the project’s partners are guaranteed especially favourable terms.
About Ubcoin Market
Ubcoin Market is a blockchain project developing a smart ecosystem for easily investing and exiting cryptocurrency by buying and selling goods and services. Ubcoin Market was founded by the same team that founded Ubank, the leading mobile payments app in Eastern Europe that, as of today, has 2.5 million active users , more than 16 million downloads around the world, and has been pre-installed by Samsung and Fly. To learn more about the vision and the structure of the project visit its website and read is whitepaper.
This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
Unfortunately, as with any industry, scams of all shapes and sizes persist within the cryptocurrency sector. This past week has seen a Filipino couple arrested after amassing over $ 17 million USD through a bitcoin investment scam, and protests held outside the office of a Vietnamese company that swindled $ 660 through two multi-level marketing (MLM) initial coin offerings (ICOs). It appears that cryptocurrency scams are still being peddled via analog communications – with phone and snail mail-based scams being reported this week also.
Filipino Couple Amasses Nearly $ 1 Billion Philippine Pesos Through Investment Scam
Earlier this week, the Philippine National Police (PNP) arrested Arnel and Leonay Ordania – a couple who are accused of amassing approximately P900 million through a bitcoin investment scam.
The couple is accused of luring roughly 50 investors in their company, Newg, for which they were promised 30% returns every 15 days. Rosanne Maglunog, a victim of the Ordania’s scam, invested P33 million into the scheme with her family and husband during November and December 2017, before discovering via social media that Newg would no longer be issuing payouts to investors.
The PNP chief, Ronald dela Rosa, has told media that the couple was arrested on April 4th in an entrapment operation executed by the Criminal Investigation and Detection Group.
Vietnamese Company Protested for Promoting MLM ICO
Vietnamese media has reported that protests were held outside the office building of Ho Chi Minh City-based company, Modern Tech. Reports have indicated that the company is accused of swindling VND15 Trillion ($ 660 million USD) from roughly 32,000 investors through two multi-level marketing ICOs, Ifan, and Pincoin.
Ifan investors were promised gains “on a daily basis” as prominent Vietnamese musicians were to join the platform, and assured that the company abided by Singapore’s regulatory guidelines. Pincoin was described as a project based in Dubai. Investors were promised monthly returns of 48%, a full recuperation of all investments in fourth months, and an 8% commission on revenue generated by referred investors.
In reality, seven Vietnamese nationals are said to have been behind both projects, with Modern Tech serving as a means to promote what were no more than multi-level marketing schemes. Whilst investors were able to see the ‘paper’ value of their investments rise, none were able to realize their profits in any form.
Canadian Utilities Provider Issues Warning of Phone Scam
Epcor, an Alberta-based utility company proving natural gas, electricity, water, and wastewater treatment services, has warned its customers of a phone scam impersonating the company targeting businesses.
The company warned that businesses have been receiving telephone calls from an individual impersonating an Epcor representative, threatening to shut off electricity services within an hour should they fail to make a payment in bitcoin.
Tim le Riche, a spokesperson for Epcor, revealed that the company received seven calls reporting the scam, including two from businesses that had already made “substantial” payments to the scammers. Mr. Riche stated that “Epcor does not do business like this,” adding that “If there does happen to be any kind of billing issue with any customer, we always work with them […] We would never make a sudden phone call to a customer to say, ‘You’ve got to make a payment within an hour or we’re going to shut you down.’ We just don’t do that.”
Snail Mail Extortion Continues
On Friday, April 6th, two Belmont residents reported a suspicious letter threatening to release evidence of secrets should $ 8,750 worth of bitcoin not be received within ten days. The letter also contained an accompanying guide on how to use bitcoin.
In January, CNBC reported that many American men were receiving letters through the post threatening to divulge details pertaining to infidelities should $ 2,000 worth of BTC not be sent to the blackmailer.
Have you every fallen victim to a scam involving crypto? Share your experiences in the comments section below!
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The post Scam Round-Up: Asian Investment Schemes and Snail Mail Extortion appeared first on Bitcoin News.
China’s stock market benchmark plunged 5.5% on Friday and other Asian markets were off sharply after the Dow Jones industrials on Wall Street plummeted more than 1,000 points, deepening a weeklong sell-off.
Asian markets followed Wall Street down after the Dow entered “correction” territory for…