Asia

January 8, 2020 @ 8:12 am By Omar Faridi  |  

Turkey’s Capital Markets Board is reportedly planning to regulate cryptocurrency-related transactions. The Capital Markets Board of Turkey (CMB), the regulatory agency that oversees the nation’s financial securities markets, is in the process of formulating guidelines to examine, audit, and regulate the local digital asset markets,… Read More

January 7, 2020 @ 8:09 pm By Omar Faridi  |  

The ongoing race and competition between local Fintech firms for acquiring a digital banking license in Malaysia continues to intensify, particularly after Bank Negara Malaysia (BNM), the nation’s central bank, revealed additional details regarding the licensing process. BNM’s Exposure Draft on Licensing Framework for Digital… Read More

January 7, 2020 @ 9:19 am By Omar Faridi  |  

UK-headquartered Fintech firm TransferWise revealed on January 6 that it has introduced a new service that allows Singapore-based clients to receive money internationally via peer-to-peer (P2P) instant payment service provider, PayNow. Individuals based in Singapore will now be able to receive funds from overseas locations… Read More

January 7, 2020 @ 7:39 am By JD Alois  |  

The Monetary Authority of Singapore (MAS) has seen 21 different entities apply for a digital-only bank license. MAS had set a deadline for applications of December 31, 2019. MAS is offering just 5 different digital bank licenses. These licenses include two digital full bank (DFB)… Read More

January 6, 2020 @ 11:06 pm By JD Alois  |  

AngelHub says it continues to launch new securities offerings after the successful funding of its first two issuers. AngelHub is the only investment crowdfunding platform to receive regulatory approval from the Securities and Futures Commission (SFC) in Hong Kong. Last spring, AngelHub was approved for… Read More

January 6, 2020 @ 8:58 am By Omar Faridi  |  

India-based Kredent InfoEdge, a Fintech and education startup, is reportedly planning to raise $8 million within the next two years, in order to finance its growth and development by leveraging the latest technology. Kredent InfoEdge, which started its journey as a platform that offered education-focused… Read More

January 6, 2020 @ 8:30 am By Omar Faridi  |  

The Singapore Business Federation (SBF) will reportedly be joining a consortium that’s led by Ron Sim‘s V3 Group (a brand creator and developer and an Asian luxury group in the lifestyle and wellness markets) and EZ-Link, a stored-card operator that is planning to acquire a… Read More

January 5, 2020 @ 6:59 am By Xu Gao  |  

Ant Financial Applies for Singapore Digital Banking License On January 2nd, Ant Financial confirmed that it had applied a digital wholesale banking license in Singapore as an effort to promote the development of local digital banking and global financial inclusion. As early as November 19th… Read More

January 4, 2020 @ 8:17 am By Omar Faridi  |  

The Hong Kong Institute of Bankers (HKIB) has onboarded six digital banks as corporate members according to a note published by the association. The HKIB is a non-profit organization that offers training and certification programs to Hong Kong-based financial institutions. The virtual banks that have… Read More

January 2, 2020 @ 9:15 pm By Samantha Hurst  |  

South Korea officials are reportedly causing some confusion with the latest drafted legislation that will tax individual crypto profits. According to Cointelegraph, South Korea’s officials stated that under current law, the government cannot impose income taxes on individual profits that are from cryptocurrency transactions. South… Read More

January 2, 2020 @ 4:45 pm By Omar Faridi  |  

South Korea’s government aims to continue to support the development of its Fintech industry. The nation’s authorities have launched regulatory sandboxes and are assisting internet-based banks in establishing their operations. However, a recent survey reveals that South Korea still needs to make significant improvements in… Read More

January 2, 2020 @ 8:55 am By Cali Haan  |  

Virgil Griffith, an Ethereum programmer accused of advising North Korea on how to using cryptocurrencies to evade sanctions, has been released on $1 million bail in New York. The case is being covered in-person by the Inner City Press: “Upshot: for Virgil Griffith, SDNY Judge Broderick… Read More

January 2, 2020 @ 8:19 am By Samantha Hurst  |  

Hong Kong-based CoinEx Chain Foundation announced on Thursday the launch of its new support program. According to the foundation, the program was designed to support more institutions and individuals to participate in the creation of CoinEx Chain’s ecosystem. “Every quarter, the Foundation will commit up… Read More

January 2, 2020 @ 7:45 am By Omar Faridi  |  

A consortium, which includes Fintech firm Razer and the founders of Sheng Siong, has reportedly filed an application for obtaining a digital full-bank license in Singapore. The application notes that the consortium wants to mainly focus on the “underserved youth and millennials segment.” Insurance business… Read More

January 2, 2020 @ 12:34 am By Omar Faridi  |  

Private lending institution PT Bank Yudha Bhakti Tbk (BYB) has revealed that its partnership with Fintech solution provider Akulaku has enhanced the bank’s digital transformation strategy by delivering several key outcomes or results. The two organizations have developed BYB’s Hands-on Application by Yudha Bhakti (HAY)… Read More

December 31, 2019 @ 2:53 pm By Omar Faridi  |  

Japan-based JCB, an established business to business (B2B) payments company, is teaming up with the Singapore blockchain tech solution developer Keychain, in order to deploy DLT-based platforms in the country’s payments industry. According to a press release, Keychain is creating a new data security framework… Read More

December 31, 2019 @ 11:00 am By Omar Faridi  |  

China’s Securities Regulatory Commission has confirmed that it recently received an application for a blockchain-related exchange-traded-fund (ETF). The nation’s securities regulator noted that the proposal was submitted on December 24, 2019 by Penghua Fund, a Shenzhen-headquartered asset manager. According to the filing, the ETF application… Read More

December 31, 2019 @ 10:34 am By Omar Faridi  |  

The National Tax Service (NTS) of South Korea confirmed that it will be withholding taxes worth an estimated 80.3 billion Korean won (appr. $70 million) from Bithumb, the nation’s largest digital asset trading platform. Bithumb Holdings’ largest shareholder, Vidente, which operates Bithumb’s Korea division, confirmed… Read More

December 31, 2019 @ 8:15 am By Omar Faridi  |  

Over 40 Fintech companies operating as small and medium-sized (SMEs) businesses in South Korea reportedly were unable to clear the appropriate security checks needed to obtain final approval to take part in the open banking initiative. The Fintech companies had applied for operational licences in… Read More

December 30, 2019 @ 5:41 pm By Cali Haan  |  

Due to dry conditions and a 30% rise in electricity consumption expected this winter, officials in China’s Sichuan province reportedly compelled players in the region’s cryptomining sector to attend a meeting on December 27th. According to 8BTC, the meeting involved, “participation of 12…regulatory bodies including(the)… Read More