Global Coin Research: Binance co-founder talks Venus, Liquid CEO gives view on regulatory environment in Japan

The following weekly newsletter is republished with permission from Global Coin Research, a global research firm with a focus on Asia blockchain and related technologies. You can find more resources on Asia Cryptocurrency and Blockchain at GlobalCoinResearch.com and on Twitter at @globalcoinrsrch

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Top News

Bitcoin Co. Ltd. (BX.in.th), one of Thailand’s largest cryptocurrency exchanges, abruptly announced that it is shutting down later this month. Source

Binance acquires crypto derivatives exchange JEX to offer options, futures and perpetual contracts. Source

Bitfinex CTO says non-custodial p2p lending is in the works.

Binance co-founder He Yi explains why she calls the Venus project “Belt and Road version of Libra.” And she says the crypto-platform behemoth can handle regulators better than Facebook. Source

Some details:
-Venus will likely run on a new chain, rather than the Binance Chain
- Binance will seek govt & co. partners in non-Western regions
- A 10-ppl team in legal, BD & tech is in place
- More details incl. partners TK in 3 months

Forbes previously reported that the People’s Bank of China is giving its first round of central bank digital currency (CBDC) to eight institutions: online retail giant Alibaba, Internet giant Tencent, five banking organizations and another unknown entity. Nevertheless, a few hours after later, a source told Sina Finance (one of China’s largest financial news providers) that the statement in the report was an inaccurate guess. Source

Relatedly, Binance research takes a look at the CBDC. Source

Chinese wallet Bitpie Wallet recently accused the largest Ethereum wallet ImToken of faking DEX transactions and ImToken responds with data evidence and threatens legal action against Bitpie; ImToken also announce that they have now 9.15mn downloaded devices. Source

Global Coin Research interviewed Japanese exchange Liquid CEO Mike Kayamori on the regulatory environment in Japan, and advice for new projects looking to enter the Japanese market. Source

Investments

Algorand’s $200mn VC fund announces investment into: Securitize, Idex, BlockDaemon and OTCXN. Source

Tokyo-headquartered Bizit, the operator of M&A platform Bizit M&A, announced that it has raised ¥150 million ($1.4 million) from SBI Investment’s Blockchain and AI Fund. Source

Coins and Mining

Samsung Galaxy S10 now supports 33 cryptocurrencies, including stable currencies such as Maker and TUSD. Source

Zcash Q3 report: Q2 significant work included community and regulatory engagement in Japan, Singapore and S. Korea. But looking to curtail certain activities, including hiring plans in Asia and engagement given market environment. Source

Planning your trip to DevCon? Here are Some Resources from the Locals. Source

Exchange News

Japanese cryptocurrency exchange Coincheck has announced it is reducing the scope of its leveraged trading options to comply with local rules. Source

Business

South Korean internet giant Kakao is reportedly planning to list its cryptocurrency Klay on a Chinese crypto exchange and one local exchange. Source

Brazil’s leading payment processor, Cielo, which operates 1.4 million point-of-sale devices and is a leading credit card provider in Brazil, is rolling out crypto payments. Source

HSBC says blockchain could ease small firms’ financing woes and also announces the completion of the world’s first Chinese yuan-denominated letter of credit blockchain transaction. Source

Philippines’ CEZA Approves First Digital Asset Token Offering (DATO). Source

Cryptocurrencies, Currency Competition and the Impossible Trinity. Source

“Big Four” consulting firm PwC’s Luxembourg branch will accept bitcoin payments from its clients, beginning Oct. 1. Source

Philippine boxer and senator Manny Pacquiao launches his own cryptocurrency, to be listed on an exchange. Source

How should one account for taxes in Japan when exchanging cryptocurrencies with electronic money platforms? Source

Regulations

The central bank of Argentina has imposed restrictions on U.S. dollar (USD) purchases in an effort to revive its plunging currency, the Argentine peso. Individual Argentinians will now be limited to USD purchases of $10,000 a month. Source

The Ministry of Economy of Kyrgyzstan has submitted the draft law “On Amending the Tax Code” with the aim of introducing cryptocurrency mining taxation. Source

A Chinese Arrested for Luring Victims to Use Bitcoin Cold Wallet He Created, Stealing over 200 bitcoins. Source

Crypto inquiries in Japan continue to drop for the fifth quarter in a row. Source

Investors up their gold holdings for the third consecutive month amid trade-war risks. Source