Southeast Asia is in the grip of a fresh surge of paedophile activity with predators orchestrating and watching abuse on live-streaming sites and via webcams, and paying for it with near-untraceable cryptocurrency, victims and children's charities warn. With widespread poverty, lax laws, and creaking judicial systems, Thailand, Cambodia, Vietnam, Lao, and the Philippines have long been seen as soft spots by foreign and local paedophiles seeking out underage sex in person.&nb
Bitcoin started the week badly, as prices for the popular cryptocurrency fell 7% to dip below US$8,000. The sudden sell-off follows from Twitter’s decision to ban advertising for cryptocurrencies. Twitter is joined by Facebook and Google who have both banned advertisements for initial coin offerings and token sales on their respective platforms.
Cryptocurrencies have been the talk of the town, or rather the region in recent times, especially after bitcoin hit a peak of almost US$20,000 at the end of 2017. Cryptocurrencies are digital currencies that use encryption techniques to secure transactions and to regulate the generation of units of the currency.
Spotlight on energyThis week, The ASEAN Post highlighted some challenges that ASEAN is facing in terms of deploying renewable energy and electrification throughout the region. As the region’s energy demands grows, countries such as Myanmar are moving forward in order to quench the thirst for electricity.
These days, money launderers have one more avenue to channel their proceeds through: cryptocurrencies like Bitcoin. Money launderers use Bitcoin because of the anonymity factor, whereupon users are simply identified by a 30-character alphanumeric code, or address which links them to the transactions they perform. No other identification is required to obtain a Bitcoin address.
South Korea is preparing to shut down cryptocurrency exchanges in the country, its justice minister warned Thursday, sending prices of bitcoin and other virtual units into a tailspin.A series of measures have failed to curb overheated virtual currency speculation in the country and Justice Minister Park Sang-Ki said it would be "devastating if the bubble bursts"."The ministry is preparing legislation that basically bans any transactions based on a virtual currency through the t
Bitcoin cryptocurrency has been receiving some bad press in Asia recently because of the lack of a central regulating authority for transactions. While Southeast Asian governments’ have their reservations about Bitcoin, they are remarkably interested in the underlying technology called blockchain.Breaking down the blockchainAt its most basic level, a blockchain is just a data structure combining different technologies into one, depending on an operator’s choice of configuration.
Singapore, on Tuesday, issued a warning about cryptocurrencies after a recent surge in prices sent investors flocking to bitcoin."The Monetary Authority of Singapore advises the public to act with extreme caution and understand the significant risks they take on if they choose to invest in cryptocurrencies," the city-state's central bank said in a statement.
The seminal financial event of this year, the current decade, and possibly our generation is here: Futures trading in bitcoin has begun.But the derivative that would really damp the current crypto frenzy and make digital tokens a speculator-friendly – if not investment-worthy – commodity, currency, tulip, or whatever, isn't futures. It's options.It's hard to see how even existing futures trading rules can deal with something as volatile as bitcoin.Cboe Global Markets Inc.
Elaine Ou, a blockchain engineer and Bloomberg View columnist, answered questions about cryptocurrencies from Bloomberg Terminal customers in a TOPLive chat on Tuesday with Julie Verhage, who covers markets for Bloomberg News. Since then, bitcoin has skyrocketed to new heights and Cboe Global Markets Inc. plans to launch bitcoin futures trading on Sunday. Here's a lightly edited transcript.Verhage: Bitcoin and other crypto-assets have had crazy runs this year.
Bitcoin hit a fresh record of $14,000 Thursday as investors piled in, triggering a warning the cryptocurrency was "like a charging train with no brakes" which would inevitably slip back.It touched a new a high of $14,400 in Asian trade before slipping back to $13,900, according to Bloomberg News.
The Philippines is looking at regulating so-called initial coin offerings, as the use of cryptocurrencies gains ground in the Southeast Asian nation.Bangko Sentral ng Pilipinas Governor Nestor Espenilla said the central bank is in talks with the nation’s Securities and Exchange Commission on ways to oversee ICOs, in which companies raise funds through the sale of digital tokens.