Blockchain & Cryptocurrency Regulation across Asia Pacific with Joyce Yang

Global Coin Research Team

April 23, 2019

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Blockchain & Cryptocurrency Regulation across Asia Pacific with Joyce Yang

Joyce Yang, founder of Global Coin Research is back on the Analyse Asia podcast to share an overview of the regulatory landscape for blockchain technology and cryptocurrency across Asia Pacific, including China. She discusses the major misconceptions on the regulation of cryptocurrency and blockchain by governments across the Asia Pacific region, and how startups and major corporations need to do in order to navigate the ever-changing industry with blockchain and cryptocurrency.

Here are the interesting show notes and links to the discussion (with time-stamps included):

Joyce Yang (@JoyceInNYC , LinkedIn), Founder of Global Coin Research [0:25]
- Since our last conversation, what have you been up to? [0:41]
  - The recent surge of bitcoin and other alt-coins prices.
  - Trip to Thailand on security token offering.
  - Travel guide from Global Coin Research (Upcoming)
Cryptocurrency and Blockchain Regulation across Asia Pacific [4:00]
- Let’s take a global perspective, with ICOs faltering and most cryptocurrency and blockchain companies still finding product-market fit, how are US and European regulators thinking about the sector? [4:38]
- We often hear that Asia is the most welcome when it comes to blockchain and cryptocurrency, specifically Korea, Japan and Singapore. Is that perception true or are there nuances with the region which people do not know about? [9:10]
- Blockchain gaming in Japan and Korea. In China, the BAT has their own blockchain type projects starting in 2014. [14:39]
- What are the most common misconceptions about cryptocurrency and blockchain regulation globally or specifically in Asia? [15:50]
  - Quality of media on blockchain and cryptocurrency is weak across Asia Pacific.
  - How regulators interact with cryptocurrency and blockchain projects and the ranking of crypto alt-coins not be objective in China.
  - Lack of showcase of high quality blockchain projects in the region.
- Given that Monetary Authority of Singapore and Hong Kong Monetary Authority are very vocal and open to interact with blockchain projects, is it associated with them being the financial hubs in the region and have developed the sophistication to dealing with the topic at hand? [19:35]
- We have discussed this previously that blockchain and cryptocurrency are pretty much intertwined for the rest of Asia, whereas in China, it is broken into two separate parts, blockchain applications and ban of ICOs & crypto-exchanges, how does it work for companies positioning themselves in the region? [21:05]
- Comments on blockchain and cryptocurrency projects tied to the core competency of the country are correlated. [24:02]
- Let’s start with the region, splitting China and the rest of Asia, is there a spectrum to where the financial regulators are looking at the cryptocurrency and blockchain from favorable to not favorable? [25:29]
- What are the key legislation in different countries which are the most interesting and exciting for companies dabbling in cryptocurrency & blockchain? [27:18]
  - Banning of bitcoin or crypto mining in China. Note that China previously owns 50% of the bitcoin mining activity in the world.
- Will bitcoin mining shift into the rest of Asia from China? [29:05]
- With the hype cycle of ICOs now in dwindling mode, how are Asian governments looking at companies doing ICOs, and are they shifting towards looking at tokens as securities? [29:51]
  - Cryptocurrency exchanges offering their own initial exchange offerings (IEOs) at much smaller scale than ICOs.
- If I am part of the executive leadership of a crypto or blockchain company, what will I be most worried about from regulators? [30:58]
Closing [32:52]
- Can you recommend a book or movie or podcast or anything which recently made an impact to your work and personal life? [33:00]
  - Joyce’s recommendation: Lee Kuan Yew “The Singapore Story“
  - BL’s recommendation: Lee Kuan Yew “From the Third World to First“
- How do my audience find you? [34:11]

Podcast Information:

The show is hosted by Bernard Leong (@bernardleong & weibo) and are sponsored by Ideal Workspace (Twitter, Facebookand LinkedIn) with their new Altizen Desk (Twitter, Facebook, Medium). Sound credits for the intro music: Taro Iwashiro, “The Beginning” from Red Cliff Soundtrack and this episode is edited by Carol Yin, and co-produced by Carol Yin and Bernard Leong.