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Tokenization is on the rise not only in the private sector. In Asia, governments are leading the charge to use this technology for the greater public good.
SBF is found guilty of fraud, Hong Kong hosts Fintech Week, Neo advances Web3, Backpack launches NFT exchange, and more.
The lender, known as K-bank, said it will also open three additional crypto subsidiaries.
Blockchain technology in Thailand could soon receive a boost by new Prime Minister Srettha Thavisin, who had promised during his campaign to give 10,000 baht (US$300) through digital wallets to every Thai citizen aged 16 years and above.
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Hong Kong, Japan, Singapore and Thailand have regulations supporting the growth of tokenization, showing the world the benefits of fractionalizing assets.
Southeast Asia steps up regulation. No end in sight for NFT market decline. Voyager’s shrinking portfolio.
Leaders in Hong Kong’s Web3 industry announced the formation of two new associations, Hong Kong Licensed Virtual Assets Association (HKLVAA) and Web3 Harbour, on Monday.
Hong Kong will allow licensed cryptocurrency trading platforms to offer services to retail investors and will implement a slew of measures to protect individual traders, the Securities and Futures Commission (SFC) said on Tuesday.
Thailand’s main opposition party said it would distribute US$15 billion worth of digital tokens to citizens if it wins the general election
The Thai Finance Ministry will waive corporate income tax and value-added tax for firms that conduct initial coin offerings (ICOs), according to a spokesperson.
The Securities and Exchange Commission of Thailand issued new rules for cryptocurrency custody services on Tuesday.
Thailand’s Securities and Exchange Commission (SEC) has written to cryptocurrency exchange Zipmex Thailand seeking clarification on whether it has been operating as a digital-asset fund manager without permission, according to a Bloomberg report.
Bitkub, one of the largest crypto exchanges in Thailand, is aiming to list in Hong Kong as early as 2024 when it goes public.
The Thailand Securities and Exchange Commission (SEC) has prohibited cryptocurrency companies from offering digital assets lending and staking products, or depository services. See related article: Thailand’s SCBX scraps plan to buy 51% stake in crypto exchange Bitkub Fast facts The regulator said in a press release on Thursday that the decision was made to protect […]
The Securities and Exchange Commission of Thailand (Thai SEC) has filed a police complaint against cryptocurrency exchange Zipmex and Akalarp Yimwilai, cofounder of the company and CEO of its Thai unit, for non-compliance. See related article: Thailand mandates warnings on crypto ads Fast facts In a statement, Thai SEC said it had ordered Zipmex to […]
Cryptocurrency advertisements in Thailand must indicate potential risks of investing in the nascent asset class, the nation’s Securities and Exchange Commission (SEC) said in a statement on Thursday. See related article: Singapore central bank warns against crypto marketing, promotion Fast facts Crypto businesses in the Southeast Asian nation must report all details of advertisements and […]
Naver Z, the operator of South Korea-based Zepeto metaverse, has signed a memorandum of understanding (MOU) with Thai telecommunications and digital services provider True Corporation to grow Thailand’s metaverse ecosystem. See related article: Naver’s Zepeto metaverse starts blockchain initiative with Solana Fast facts Utilizing Zepeto as a platform, True will provide future-oriented, online-to-offline experience that […]
Thailand’s oldest lender SCBX Pcl has announced it is withdrawing from an earlier decision to purchase a 51% stake in the crypto exchange Bitkub for US$500 million, citing regulatory issues. See related article: Thailand’s central bank to get more power in crypto regulation overhaul: report Fast facts In a statement addressed to the Stock Exchange […]
Thailand’s central bank will receive more power as the South-East Asian nation steps up regulation of digital assets, said Thai Finance Minister Arkhom Termpittayapaisith. See related article: Thailand bans Bitcoin and crypto payments Fast facts Thailand plans to tighten its supervision of platforms and exchanges that offer trading in cryptocurrencies and other digital assets, Bloomberg […]
How does a centralized internet browser plan for a decentralized future? Reinvention, and finding a receptive audience. First stop, Southeast Asia.
Crypto exchange Zipmex, which announced that it is in serious discussions with potential investors on Monday, is looking to raise US$50 million to cover its exposure to Babel Finance and Celsius Network, Bloomberg reported. See related article: Zipmex says considering possible offer Fast facts Zipmex’s fundraising target is close to its exposure to Babel Finance, […]
The adoption of cryptocurrencies is still low compared to traditional investment classes such as equities, payment technologies and private equity allocation by institutions, a joint report by Boston Consulting Group (BCG), Bitget and Foresight Ventures said. See related article: Led by Vietnam and India, global crypto adoption jumps over 880% Fast facts The report estimates […]
The Securities and Exchange Commission of Thailand (Thai SEC), has sought clarification from cryptocurrency exchange Zipmex on its decision to freeze withdrawals, according to a statement on its website. See related article: Celsius bankruptcy deepens chill over crypto sector Fast facts The regulatory authority for Thailand’s capital markets, in a letter dated July 20 issued […]
BlockFi’s Zac Prince says they have fully liquidated 3AC positions. Meanwhile, Hong Kong’s central bank works with the Bank of Israel to study CBDC security.
Huobi Thailand will shut its cryptocurrency trading platform’s Thailand unit on July 1 after the country’s Securities and Exchange Commission (SEC) revoked its license. See related article: Can Thailand emerge as a ‘crypto-positive’ travel destination? Fast facts Huobi Thailand said the firm will no longer have any connections or legal bindings with Huobi Group following […]
US authorities says North Korea is responsible for Ronin hack. Meanwhile, Binance and Gulf Energy initiate joint venture.
Binance has entered into a joint venture agreement in collaboration with billionaire Sarath Ratanavadi’s Gulf Energy Development to set up a crypto exchange in Thailand. See related article: Binance wins Abu Dhabi nod for another MENA outpost Fast facts Once the joint venture is established, it will apply for a digital asset exchange license with […]
Cryptocurrency payments will be banned in Thailand starting April 1, the Securities and Exchange Commission (SEC) announced on Wednesday. See related article: Thailand eases crypto tax burden until 2023 to promote industry Fast facts The SEC said price volatility, lack of customer safeguards, money laundering and cyber theft risks drove the decision to ban cryptocurrencies […]
Thailand crypto investor tax burdens are being relaxed from April 2022 until the end of 2023, according to the results of a finance ministry cabinet meeting on Tuesday. See related article: Thailand to regulate cryptocurrency as payment method Fast facts The cabinet approved tax relief measures, including the exemption of a 7% value-added tax (VAT) […]
Thailand has axed plans to apply a 15% withholding tax on crypto transactions after a backlash from crypto traders within the country, the Financial Times reported. Fast facts Last week, Thailand’s financial authorities announced plans to tighten regulation on the industry — including the 15% tax — aimed at limiting the widespread adoption of digital […]
Hong Kong’s central bank digital currency (CBDC) project with three other central banks and the Bank of International Settlements (BIS) will enter its pilot stage this year to test international trade settlements, a Hong Kong government official said. Fast facts Christopher Hui, Hong Kong’s Secretary for Financial Services and the Treasury, said on Wednesday the […]
Thailand’s financial authorities have unveiled a plan to issue regulations that would “limit the widespread adoption of digital assets as a means of payment for goods and services” in a bid to protect the country of 70 million people. Fast facts Thailand’s Securities and Exchange Commission (SEC), Ministry of Finance (MOF) and The Bank of […]
The Bank for International Settlements (BIS) Innovation Hub announced on Tuesday that its Hong Kong Center will explore this year whether decentralized finance (DeFi) can improve financing for small and medium enterprises. Fast facts In Hong Kong, the BIS has been working with central banks of China, Hong Kong, United Arab Emirates and Thailand on […]
Binance partners with Gulf Energy for Thai crypto exchange, meanwhile, Polygon’s upgrade live
Binance signed a memorandum of understanding with Bangkok-based power company Gulf Energy Development to establish a digital asset exchange in Thailand, the Southeast Asian nation with a population of 70 million people. Fast facts According to Gulf Energy’s letter to the Thai Stock Exchange on Monday, its local resources coupled with Binance’s exchange technology would […]
Tourism officials want to attract more crypto-wealthy travelers to Thailand’s shimmering shores. But will the crypto faithful come if Thailand still has a ban on SHIB and Dogecoin?
Thailand’s oldest bank, Siam Commercial Bank, has acquired a majority stake in the country’s largest crypto exchange Bitkub. Fast facts Siam Commercial Bank Securities, a subsidiary of SCB, has purchased 51% stake in Bitkub for approximately US$535.6 million, according to an announcement on Tuesday. The transaction is expected to be completed by the first quarter […]
Central Retail Corp., one of Thailand’s biggest department store chains, has developed a blockchain-based digital currency called C-Coin and is now testing it among employees, Bloomberg reported yesterday. Fast facts The company is currently distributing C-Coin to its 80,000 employees as bonus to their usual salary. Employees can use the crypto coin to shop at […]
The Miss Universe Thailand 2021 pageant has partnered with Bangkok-based crypto exchange Bitkub to feature non-fungible tokens (NFTs) as part of the competition, Bitkub announced. Bitkub claims the event will mark the first NFT beauty pageant. Fast facts Bitkub will mint NFT collectible cards of the pageant contestants. The company also will provide participants with […]
Thailand’s Securities and Exchange Commission (SEC) on Wednesday launched a public consultation on its proposed amendments to regulations for the custody of crypto holdings in digital asset businesses. Fast facts The additional regulations — which the SEC said are intended to enhance investor protection — include requiring digital asset businesses to comply with “the principles […]
The Brooker Group, a publicly listed financial consultancy and capital management company in Bangkok, this week reported that it held US$23.86 million of digital assets, according to its financial results for the first six months of 2021. Fast facts The Brooker Group also reported an impairment loss of US$12 million in the first half of […]