_Singapore help crypto firms w/ local bank accounts; 74% hashrt controlled by Chinese pools; Japan corp launches stablecoin_

**What Crypto insiders are reading on Asia.**

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**Top News in Asia from Monday to Wednesday**

An interesting whitepaper published by Princeton/Florida researchers points that **74% of the hashrate on the Bitcoin network is in Chinese-managed mining pools**. [http://bit.ly/2yt8bMx](https://globalcoinresearch.us17.list-manage.com/track/click?u=859b0d423a7f7baa4cdb46f26&id=1b9acb1f97&e=e8de32e54d)

**China’s government-backed organization is working to release three blockchain standards on smart contracts, privacy and deposits,** in order to better guide the development of the blockchain industry in China: [http://bit.ly/2ytrxBk](https://globalcoinresearch.us17.list-manage.com/track/click?u=859b0d423a7f7baa4cdb46f26&id=eb4b622638&e=e8de32e54d)

Japan’s GMO Internet Group to **launch yen-pegged stablecoin in 2019 to target international remittances:** [http://bit.ly/2C7msC7](https://globalcoinresearch.us17.list-manage.com/track/click?u=859b0d423a7f7baa4cdb46f26&id=792763edbd&e=e8de32e54d)

Korea messaging giant **Kakao Corp releases blockchain platform testnet ahead of Q1 2019 launch:** [http://bit.ly/2ywTZ56](https://globalcoinresearch.us17.list-manage.com/track/click?u=859b0d423a7f7baa4cdb46f26&id=63820cd100&e=e8de32e54d)

**Binance to delist Bytecoin, CHAT, Iconomi** and **TRIG**, sending all of them crashing: [http://bit.ly/2yvHdDZ](https://globalcoinresearch.us17.list-manage.com/track/click?u=859b0d423a7f7baa4cdb46f26&id=f5be286b7b&e=e8de32e54d)

**Singapore’s financial regulator is willing to lend a hand to cryptocurrency firms having problems setting up local bank accounts,** but doesn’t plan to loosen its rules to lure more crypto startups to the country: [http://bit.ly/2yt5EC1](https://globalcoinresearch.us17.list-manage.com/track/click?u=859b0d423a7f7baa4cdb46f26&id=4ad283e9f5&e=e8de32e54d)

India government- “**we are evaluating the government-backed cryptocurrency** and crypto-token”. [http://bit.ly/2yvKseD](https://globalcoinresearch.us17.list-manage.com/track/click?u=859b0d423a7f7baa4cdb46f26&id=5593db26a2&e=e8de32e54d)

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Deals and Funds

Dragonfly Capital Partners is a **new $100 million VC fund looking to help crypto start-up’s bridge China and Silicon Valley:** [http://bit.ly/2ybPYUy](https://globalcoinresearch.us17.list-manage.com/track/click?u=859b0d423a7f7baa4cdb46f26&id=f57b3b5d7d&e=e8de32e54d)

**Binance Labs invests millions in blockchain auditing platform CertiK,** specific amount not disclosed: [http://bit.ly/2yxsDvB](https://globalcoinresearch.us17.list-manage.com/track/click?u=859b0d423a7f7baa4cdb46f26&id=84c16fc7fc&e=e8de32e54d)

**a16zcrypto, Accel, Binance Labs, Pantera Capital and Polychain Capital join Oasis in launching the Oasis Startup Hub** to advance developers building privacy-first applications: [http://bit.ly/2yt8W8k](https://globalcoinresearch.us17.list-manage.com/track/click?u=859b0d423a7f7baa4cdb46f26&id=b32080b1ee&e=e8de32e54d)

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Coin and Token News

**Terra aims to push for greater use of stablecoins through e-commerce** by forming a partnership with leading e-commerce platforms in Asia to leverage on the platforms’ large and ever-growing transaction volume: [http://bit.ly/2ypOkOi](https://globalcoinresearch.us17.list-manage.com/track/click?u=859b0d423a7f7baa4cdb46f26&id=19d8609cea&e=e8de32e54d)

**XRP could be the first in the cryptocurrency history** being adopted as the official currency of the Tokyo 2020 Olympic Games. [http://bit.ly/2yqZeU0](https://globalcoinresearch.us17.list-manage.com/track/click?u=859b0d423a7f7baa4cdb46f26&id=9fd037fcae&e=e8de32e54d)

**Republic Protocol held a $34m ICO**. How its 22yo CEO runs it: [http://bit.ly/2yrYJZZ](https://globalcoinresearch.us17.list-manage.com/track/click?u=859b0d423a7f7baa4cdb46f26&id=21901b164c&e=e8de32e54d)

**DAG-based distributed ledger Perlin has made its testnet** **alpha available** for private testing: [http://bit.ly/2yt3xOB](https://globalcoinresearch.us17.list-manage.com/track/click?u=859b0d423a7f7baa4cdb46f26&id=c53e3c567d&e=e8de32e54d)

Pundi X, which develops blockchain-based payment devices, have **created the world’s first blockchain-based mobile phone called ‘XPhone’.** [http://bit.ly/2ywYBbq](https://globalcoinresearch.us17.list-manage.com/track/click?u=859b0d423a7f7baa4cdb46f26&id=daf5e6e874&e=e8de32e54d)

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Exchange News

**Digibyte founder Jared Tate lashes out at Binance’s listing fees:** [http://bit.ly/2OUajae](https://globalcoinresearch.us17.list-manage.com/track/click?u=859b0d423a7f7baa4cdb46f26&id=3aeca5427c&e=e8de32e54d)

**Bitfinex now has the second-richest tether** wallet: [http://bit.ly/2ydPOvQ](https://globalcoinresearch.us17.list-manage.com/track/click?u=859b0d423a7f7baa4cdb46f26&id=0bc22b726c&e=e8de32e54d)

**First fiat-to-cryptocurrency exchange** called EurekaPro is set to launch in Singapore:[http://bit.ly/2ILhgoI](https://globalcoinresearch.us17.list-manage.com/track/click?u=859b0d423a7f7baa4cdb46f26&id=3a888fee8a&e=e8de32e54d)

South Korean National Police Agency has produced a report of all hacking incidents in last 3 years; **a total of 7 crypto exchanges and 158 wallets hacked:** [http://bit.ly/2yqKkgD](https://globalcoinresearch.us17.list-manage.com/track/click?u=859b0d423a7f7baa4cdb46f26&id=60f3a8851f&e=e8de32e54d)

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Regulation News

**Taiwan lawmaker has proposed an amendment to the nation’s Money Laundering Control Act** to cover cryptocurrencies: [http://bit.ly/2C6nj5W](https://globalcoinresearch.us17.list-manage.com/track/click?u=859b0d423a7f7baa4cdb46f26&id=b703033b8d&e=e8de32e54d)

**Thailand to study blockchain for applications in intellectual property and trade finance:**[http://bit.ly/2IOne8j](https://globalcoinresearch.us17.list-manage.com/track/click?u=859b0d423a7f7baa4cdb46f26&id=23fbe5ee86&e=e8de32e54d)

**China man gets 3.5 years in jail for stealing train power to mine Bitcoin**: [http://bit.ly/2ywK53o](https://globalcoinresearch.us17.list-manage.com/track/click?u=859b0d423a7f7baa4cdb46f26&id=b6cf709a48&e=e8de32e54d)

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Business News

China’s Hainan Province **became the host of the country’s “first” officially licensed “‘blockchain pilot zone”:** [http://bit.ly/2QFdTSX](https://globalcoinresearch.us17.list-manage.com/track/click?u=859b0d423a7f7baa4cdb46f26&id=63e3e27ef7&e=e8de32e54d)

**Number** of compromised routers in India doubled, reaching almost 30,000: [http://bit.ly/2OfdsCj](https://globalcoinresearch.us17.list-manage.com/track/click?u=859b0d423a7f7baa4cdb46f26&id=9b40fee4e2&e=e8de32e54d)

Korean food giant Nongshim’s subsidiary taps block chain for end-to-end traceability of beef:[http://bit.ly/2C9hp4d](https://globalcoinresearch.us17.list-manage.com/track/click?u=859b0d423a7f7baa4cdb46f26&id=8c74650252&e=e8de32e54d)

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**In case you missed it**

[Our New Podcast with Jason Fang from Sora Ventures is Out!](https://globalcoinresearch.us17.list-manage.com/track/click?u=859b0d423a7f7baa4cdb46f26&id=d27affaac3&e=e8de32e54d)

In this new episode, Joyce Yang from Global Coin Research is joined by [Jason Fang](https://globalcoinresearch.us17.list-manage.com/track/click?u=859b0d423a7f7baa4cdb46f26&id=4aa620f12f&e=e8de32e54d), Managing Partner at [Sora Ventures](https://globalcoinresearch.us17.list-manage.com/track/click?u=859b0d423a7f7baa4cdb46f26&id=2f21ebd8cc&e=e8de32e54d), an Asia-based venture capital firm focused on blockchain and crypto investments. The mission of the fund to invest in entrepreneurs who can make positive changes in our world using blockchain technology. Their investments include Thunder, Urbit, Mithril, Alphaslot and more.

Additionally, the [Sora Summit](https://globalcoinresearch.us17.list-manage.com/track/click?u=859b0d423a7f7baa4cdb46f26&id=4edc0773ae&e=e8de32e54d) will be taken place in Macau on Nov 13–14th. Listen to Jason in the podcast at 28:41on why the Summit will be taken place in Macau and checkout the great line-up of speakers and attendees.

**Use Discount Code SORAMEDIA2018 to get 80% off**

![](https://hackernoon.com/hn-images/0*iLgqEX-ephYErdnK.png)

Jason was one of the earliest employees at Fenbushi Capital and started Sora Ventures when Mainland China banned ICOs in 2017. When I initially spoke to Jason, I’ve found him to be very thoughtful and his investing approach to be very unique amongst crypto investors that I’ve met. In our conversation, we talk about how Sora invests in crypto projects, Jason’s outlook for the crypto space, and his perspectives on crypto developments in the East and the West.

[**Time and Topics discussed in Our Interview**](https://globalcoinresearch.us17.list-manage.com/track/click?u=859b0d423a7f7baa4cdb46f26&id=e912763193&e=e8de32e54d)

1:24- Introduction to Jason, Sora Venture, and his background  
3:59- how did Sora Ventures get started after China banned ICOs  
6:09- why Sora doesn’t invest in Chinese projects despite being headquartered in Shanghai, China  
7:55- how Sora think about investing in the blockchain and crypto space  
19:46- why do you like the reverse-ICOs model?  
21:34- metrics to benchmark the success of reverse-ICOs  
22:54- is the blockchain space between Asia and the West going to merge?  
28:41- Checkout the upcoming [Sora Summit](https://globalcoinresearch.us17.list-manage.com/track/click?u=859b0d423a7f7baa4cdb46f26&id=60e21f0b49&e=e8de32e54d) on Nov 13–14th, use **SORAMEDIA2018** to get 80% off to tickets  
33:06- Current fund environment in Asia and how many funds have stopped investing in crypto  
34:47- Where do you see the winners coming out of in Crypto?  
35:20- Practical approaches to thoughtful investing

_You can also read Jason’s thoughts on his medium articles here, in where he lays out Sora’s investment thesis and his outlook on Asia:_  
[Sora Ventures’ Philosophy to Blockchain Investments](https://globalcoinresearch.us17.list-manage.com/track/click?u=859b0d423a7f7baa4cdb46f26&id=2436da8364&e=e8de32e54d)  
[Understanding Chinese Crypto Investors](https://globalcoinresearch.us17.list-manage.com/track/click?u=859b0d423a7f7baa4cdb46f26&id=72ec2f99b6&e=e8de32e54d)

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Top Asia Crypto News from Oct 7–10th

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