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Topic

Asia

A collection of 56 issues

South Korea's Bold Move: Proposing a Ban on Crypto Purchases with Credit Cards

**Introduction** In a significant development, the South Korean Financial Services Commission (FSC) has announced a proposal to ban the use of credit cards for purchasing cryptocurrencies. This move comes amid growing concerns over the illegal outflow of domestic funds, money laundering, and speculative activities associated with cryptocurrency transactions. As one

CZ Officially Steps Down as CEO of Binance; Richard Teng Assumes Leadership

IntroductionBriefly introduce the major news: Changpeng Zhao (CZ) steps down as Binance CEO.Announce Richard Teng as the new CEO.Mention CZ's statement regarding his departure and future plans.Section 1: CZ's Tenure and Decision to Step DownDetail CZ's tenure at Binance, highlighting key milestones and challenges.Discuss the reasons

Bithumb CEO arrested in South Korea

The South Korean prosecutor's office has reported the arrest of Kang Jong-hyun, the de facto owner of cryptocurrency exchange Bithumb. He is charged with embezzlement and securities fraud. Authorities added that in addition to Hyun, they arrested another person. His identity was not disclosed (listed under the pseudonym Cho).

South Korea to roll out crypto-asset tracking system

Authorities in South Korea plan to roll out a digital asset tracking system. Such an initiative will help stop money-laundering and chargeback fraud in the industry. Deployment of the system is planned for the first quarters of this year, but the country's ministry says the independent mechanism will be implemented

Chinese stocks are in unprecedented demand at the start of 2023

There are plenty of reasons for foreigners to return to the Chinese market. Fundamentals are creating positive expectations: the abolition of COVID-Zero, the opening of the borders and a recovery in business activity. In addition, rating agencies are expecting strong GDP growth this year.

Pusan will have a decentralized digital commodities exchange

The Busan City Council and members of the Crypto-Exchange Promotion Committee met for the first time and decided to create a digital commodities platform that will be a bridge between traditional financial assets and blockchain-based solutions. The platform will feature tokenised assets - gold, agricultural products, real estate, goods and

India's central bank seeks total ban on cryptocurrencies

The Reserve Bank of India (RBI) has opposed legalisation of the cryptocurrency market. It believes that the term 'cryptocurrencies' is very vague and digital money itself is similar to gambling. The regulator will push for a total ban on cryptocurrency trading in his country. The central bank chief explained that

Ruthless competition and government support have led to an electric car revolution in China

When Daniel Zhu bought his first electric car earlier this year, the main motivation was not environmentalism. It was practical. Getting a license plate for a gasoline car in Beijing was almost impossible. What's more, Arcfox, a Chinese brand created by state-owned BAIC Group in 2020 as a potential Tesla

China is considering steps to repeal Covid-Zero, but no timeline yet, WSJ

According to the magazine's sources, Chinese leaders are considering lifting the tough restrictions that have held China's economy in check for nearly three years. There is growing concern that the costs of "zero tolerance" for the virus are too high. Rumors about cancellation of Covid-zero have been circulating since last

EU rethinks relations with China

"The EU sees its first priority as reducing dependence on China for technology and imports of resources," von der Leyen "We need a balanced relationship with China," President Macron.