Asia-Pacific / 11:43 pm

Crypto Exchange CEO Sentenced to 3-Year Jail Term for Faking Trading Volume

Two executives from South Korean crypto exchange Komid have been handed down jail time for faking trading volume and deceiving investors. According to a report from CoinDesk Korea, the firm’s CEO Hyunsuk Choi received a three-year sentence for his role in the crime, as well as for embezzlement. Another member of the team, Park Mo, […]

Asia-Pacific / 2:05 am

New Zealand Police Keeping ‘Open Mind’ on Cryptopia Hack

UPDATE (Jan. 16, 2019, 15:50 UTC): Ethereum network data indicates that some of the funds from the hack were sent to Binance. Changpeng Zhao, the exchange’s founder and CEO, said on Twitter that the company was “able to freeze some of the funds.” “I don’t understand why the hackers keep sending to Binance. Social media will […]

Asia-Pacific / 3:33 am

New Zealand Crypto Exchange Cryptopia Goes Offline Citing Hack

New Zealand-based cryptocurrency exchange Cryptopia has gone offline citing a major hack. The exchange announced the news on Twitter this morning, stating that it “suffered a security breach which resulted in significant losses.” No information has yet been provided on the value of the losses, the tokens and currencies affected or any measures to refund users. […]

Asia-Pacific / 9:09 am

Malaysia to Regulate ICOs as Securities Offerings from Tuesday

Malaysia’s securities watchdog will have powers to regulate digital asset offerings and crypto exchanges as of Tuesday. According to a notice from the country’s Securities Commission (SC), the Capital Markets and Services (Prescription of Securities) (Digital Currency and Digital Token) Order 2019 will come into force on Jan. 15 following a statement from the finance minister this […]

Asia-Pacific / 5:13 pm

Coincheck Wins Crypto Exchange License 12 Months After Major Hack

Japanese crypto exchange Coincheck, which suffered a $530 million hack in January of last year, is now a licensed entity. Monex Group, the Japan-based online brokerage firm that acquired Coincheck for $33.5 million following the cyberattack, announced Friday that the exchange is now registered with the Kanto Financial Bureau, under the country’s Payment Service Act, […]

Asia-Pacific / 12:49 am

China’s Internet Censor to Start Regulating Blockchain Firms Next Month

China’s internet censorship agency has approved a set of regulations for blockchain service providers in the country that will take effect in mid-February. The Cyberspace Administration of China (CAC) published its new “Regulation for Managing Blockchain Information Services” on Thursday, defining blockchain information service providers as “entities or nodes” that offer information services to the public using […]

Asia-Pacific / 4:38 pm

Two Thirds of Korean Crypto Exchanges Fail Government Security Check

Only a third of cryptocurrency exchanges inspected got a full pass in a recent government security audit. The Ministry of Science and ICT, the Korea Internet & Security Agency and the Ministry of Economy and Finance inspected a total of 21 crypto exchanges from September to December 2018, examining 85 different security aspects. Notably, only […]

Asia-Pacific / 12:33 pm

Thai Finance Ministry Awards Licenses to 4 Crypto Firms, Rejects 2

Thailand’s Ministry of Finance has granted digital asset business licenses to four crypto firms, while rejecting two other applications. The news was announced Tuesday by the country’s Securities and Exchange Commission (SEC), which clarified that crypto businesses are regulated under the “Emergency Decree on Digital Asset Businesses B.E. 2561 (2018).” The four firms receiving licenses […]

Asia-Pacific / 3:31 pm

Japan Eyes Regulation of Unregistered Crypto Investment Schemes

Japan’s financial regulator is reportedly looking to close a legal loophole that lets unregistered investment firms solicit funds in cryptocurrencies rather than cash. According to a report from Sankei Shimbun on Tuesday, Japan’s Financial Service Agency (FSA) is planning revisions to bring such schemes under the country’s Financial Instruments and Exchange Act, although no timeline […]

Asia-Pacific / 1:45 pm

Japan’s Financial Regulator May Approve Crypto ETFs: Report

Japan’s Financial Services Agency (FSA) is apparently open to approving crypto exchange-traded funds (ETFs). A Bloomberg report on Monday, citing a person “familiar with the matter,” said that the FSA is currently ascertaining institutional interest in ETFs that track cryptocurrencies and could ultimately give them the go ahead. Japan’s ruling Liberal Democratic Party will reportedly […]