Weekly Crypto Highlights in Asia | May 28th — June 1st

Coin and Exchanges

- Huobi, a major cryptocurrency exchange originally from China, is setting up shop in Brazil.

- Binance’s new US $1bn fund will be denominated in Binance tokens. Investments include funds as well, which could potentially increase institutional transactions on Binance significantly.

- On the way to EOS and TRON’s mainnet launches this week, EOS had vulnerabilities discovered by a Chinese security company and some Chinese media tried to undermine TRON’s CEO Justin Zhen. TRON has fallen 20% in the last 7 days. EOS still raised $4bn from year-long sale. To continue to follow EOS’s launch this weekend, check out streams on Steemit and YouTube

- Korea’s Exchange Bithumb banned trading in 11 countries and is lowering withdrawal limit for accounts without real-names.

Macro and Regulation Watch

We saw a number of regulatory and business developments from Korea and Japan this week, which signaled increasing maturity of those ecosystems. Chinese officials continue to push for blockchain development.

🇰🇷 South Korea has allowed domestic ICOs again after 8 months ban. The Grand Court also recognized Bitcoin as an asset, and confiscated digital currency for the first time.

🇯🇵 Japan Financial Services Agency carried out anti-money launderingsupervision on a number of digital currency companies. Also, 6 new crypto exchanges are launching.

🇨🇳 President Xi Jinping along with Chinese authorities continue to be bullish on blockchain. Looking to form National Blockchain Standardization Committee by the end of 2018.

🇮🇳 Indian said no thanks to using the Petro, launched by Venezuela, to buy the nation’s crude oil.

Business

- Bitcoin mining company Bitmain has been under scrutiny from the POW community and for its latest mining products.

Picture of the Week

Chinese cryptocurrency media companies are boycotting the Boao Blockchain Conference after the organizer used a Chairman Mao impersonator to promote the event.