GCR

BTC.com launches PoS Ethereum mining; LINE’s new cryptocurrency; Baidu’s new blockchain; Korea Province to release cryptocurrencies

Top News in Asia from Wednesday to Friday

Baidu has injected US$7.3 million to set up a blockchain subsidiary Dulian Internet Technology in Hainan, China. http://bit.ly/2PTZUcf

Japanese social messaging giant LINE has launched its own cryptocurrency and in-house blockchain. http://bit.ly/2N5Fuic

Geyongbuk, a province on the eastern coast of South Korea, has announced efforts to replace its local currencies with a state-issued cryptocurrency. http://bit.ly/2N3vo1a

Reserve Bank of India has published its annual report, and it specifically talks about “the need to explore a digital currency for the country. http://bit.ly/2PQiVwx

Bitmain’s Mining Pool BTC.com is launching a PoS Ethereum mining operation. http://bit.ly/2NcUf2R

Japanese e-commerce giant Rakuten, market capitalization of over $12.5 billion, has acquired domestic crypto exchange, Everybody’s Bitcoin, for $2.4 million. http://bit.ly/2ND4gDn

Thailand is becoming a critical country for blockchain. https://tcrn.ch/2PsJGGm

A leaked Bitmain Pre-IPO document shows a $299 million loss in BCH crash. http://bit.ly/2N2vbve

Deals

Huobi Group acquired 199 million shares of the Pantronics Holding Ltd at $0.35 per share, through its two subsidiaries — Huobi Universal and Huobi Capital. http://bit.ly/2N8gMNS | Full filing in Chinese here

Lambda, a Singapore-based decentralized infrastructure startup that provides unlimited data storage on the blockchain and for the Internet of Things, received an investment from FBG Capital. http://bit.ly/2PVcPec

$650 million Private Equity Group ‘PIR Equities’ is investing $50m inblockchain. http://bit.ly/2PU1k6Q

Coin and Token News

People’s Insurance Company of China (PICC), one of the largest insurer globally with $126 billion total assets, is opting to embrace blockchain technology with the help of DNV GL and VeChain. https://read.bi/2NCEQWq

CertiK AutoScan Engine has been released to enterprises and smart contract startups. http://bit.ly/2NBA5fC

Interview with ICON CEO on ICON’s long-term goals and open culture, along with insights regarding startup spirit and regulations in Korea. http://bit.ly/2otYpoY

Exchange News

Huobi Group has teamed up with Singapore-based National Trading Union Congress Learning Hub to introduce a series of new courses on blockchain for cryptocurrency enthusiasts and fintech professionals in the region. http://bit.ly/2N5EGKc

Regulation News

Japan’s National Police Agency is to fund development of new software to help track individuals behind illicit crypto transactions. http://bit.ly/2PsqHvu

A Korean lawmaker stresses need to designate cryptocurrency special zone for ICOs. http://bit.ly/2PRXc7j

The growing digital trend is expected to increase remittance volume in the Philippines to $42 billion by 2023 using digital currencies, wearable technologies and biometrics. http://bit.ly/2C2OhNB

The Securities Commission of Malaysia has is reviewing LaVida Coin, a newly launched cryptocurrency by a local celebrity, to determine whether there has been a breach of securities law. http://bit.ly/2NBMhNw

Thai regulators are reviewing six applications for ICO portals, which are expected to be approved in the fourth quarter of this year. At least one company in Thailand is already issuing a token without obtaining approval. http://bit.ly/2CcHPDs

The head of a government watchdog in Thailand has admitted that domestic cases of cryptocurrency crime are few and far between despite calling for increased preparedness to combat it in the future. http://bit.ly/2PTLaKw

Business News

JD.com, one of China’s largest e-commerce players, and Australia’s Monash University together signed a blockchain strategic cooperation agreement. http://bit.ly/2PU3xiE

Recruitment firm Robert Walters has seen a 50 percent increase in the number of roles related to blockchain or cryptocurrencies in Asia since 2017. https://cnb.cx/2PVef8i

Don’t Forget

For New York City-based Crypto folks, our Blockchains for Schools Mentorship Program have officially started accepting applications for mentors for the school year.

The mentees are 40 high school students from all over New York City, and each of them has gone through a rigorous interview process to make sure that they have a basic understanding of blockchain.

The program meetup will take place once a month, on a weekend, for 1.5 hours in the city. You will be matched with a mentee once you fill out this application here, it literally takes 1 minute.

We want to build something long-lasting. Help us, and help you, to build a supportive crypto community here. We look forward to seeing you at the meetup.