Cryptocurrency

Thailand introduces laws governing cryptocurrencies

A new set of laws governing cryptocurrencies has been introduced in Thailand. According to the government, the new laws aren’t intended as a blanket ban on cryptocurrencies but serve to regulate such digital assets and tokens while protecting investors from the uncertainties of the cryptocurrency market. This new piece of legislation will also come down hard on the illicit use of cryptocurrency, especially in money laundering, tax evasion and unauthorised transactions.

15 May 2018
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Is ASEAN ready for physical cryptocurrencies?

We often associate cryptocurrencies with the realm of the intangible, existing in the perplexing world of coding and data. This thought process will now be a thing of the past as physical bitcoin notes have been launched in Singapore. Tangem, a crypto start-up which positions itself as the developer of “the first smart banknote for digital assets,” has just introduced the pilot sale of “Tangem notes” in the island nation.

11 May 2018
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Has the cryptocurrency bubble burst?

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.

27 March 2018
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Banks in Thailand are embracing blockchain

Previously seen as a disruptor to traditional banking methods, blockchain technology is now being adopted by banks in Thailand. In an unprecedented move last week, 14 banks came together and jointly launched the Thailand Blockchain Community Initiative.Apart from the 14 commercial banks, the Thailand Blockchain Community Initiative will also involve seven corporations and state enterprises.

22 March 2018
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The State Of Cryptocurrency In Southeast Asia

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.

9 March 2018
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Even using Bitcoin, money launderers can’t win

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.

16 January 2018
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S.Korea plans to close cryptocurrency exchanges, bitcoin dives

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

11 January 2018
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Singapore issues cryptocurrency warning

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.

20 December 2017
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An Expert's Guide To Navigating The World Of Bitcoin

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.

11 December 2017
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Singapore central banker sees bubble in fintech hype

Be selective.That’s the message Monetary Authority of Singapore Managing Director Ravi Menon has for pundits and investors trying to navigate the wave of technology euphoria sweeping the financial services industry.While technological innovations such as blockchain and the area of big data analytics can result in powerful applications, people should be wary of some peer-to-peer lending platforms and the rapidly rising values of cryptocurrencies, Menon said in an interview with Bloomberg News

7 November 2017
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Singapore won't regulate cryptocurrencies, remains alert to risk

Singapore doesn’t plan to regulate cryptocurrencies such as bitcoin, but will remain alert to money laundering and other potential risks stemming from their use, the head of the country’s central bank said.“As of now I see no basis for wanting to regulate cryptocurrencies,” Monetary Authority of Singapore Managing Director Ravi Menon said in an interview.

25 October 2017
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How is cryptocurrency disrupting ASEAN businesses?

Due to their unregulated nature, cryptocurrencies and the businesses that they have created occupy a grey area in Southeast Asia. However, they have undoubtedly become a major focus area for ASEAN businesses.This isn’t surprising, considering the advantages that cryptocurrencies bring to the table. Their adoption can reduce costs and increase security and convenience for both consumers and businesses.The cryptocurrency market is expected to see massive growth over the next six years.

20 October 2017
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