Asia Blockchain news roundup 16 Jan


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The first “SEA blockchain summit” in Thailand

The first “Blockchain summit in Southeast Asia” will be solemnly held in Royal Thai Navy Convention Centre on Jan.19th, 2018. The schedule of the summit is to discuss hot topics, such as policy orientation in Southeast Asia, application and technology innovation, investment atmosphere and other issues, including the development and application of global blockchain and new opportunities to Southeast Asia bought by the technological revolution of blockchain.

This forum has been fully supported by Royal Thai Government. 

India's financial capital, Mumbai

Maharashtra, India Uses Blockchain Technology to Secure Public Data on the Internet

According to India’s local media “India Today” , Maharashtra government has decided to implement blockchain technology to ensure the security of online public data.  S.V.R. Srinivas , the chief secretary of science and information technology department in Maharashtra government, said that blockchain technology could help government to ensure the safety of multiple departments, such as citizen income, police information, land records, education and personal health records, etc.

He said “We will soon release financial technology policies. Blockchain technology will help ensure better credibility and transparency in financial transactions. Management will be more effective.”

According to reports, FICCI (Federation of Indian Chambers of Commerce & Industry) will hold the first Maharashtra Technology Summit on Jan 17th, 2018 (Wednesday). The submit will focus on blockchain technology.

What deserved to be mentioned is that some other reginal governments in India, in addition to Maharashtra, also begin to expand the application of blockchain technology, including Andhra Pradesh and West Bengal.

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IRB (Inland Revenue Board) Freezes Luno’s Malaysia Bank Account on January 13

On January 13th, the Inland Revenue Board (IRB) frozen the bank accounts of Luno, who facilitates Bitcoin storage and transactions such as buying, selling and paying through their Bitcoin wallet services. LUNO (formerly BitX) is a Bitcoin company headquartered in London with operations in Indonesia, Malaysia, Nigeria, South Africa the United Kingdom and 35 other European countries. 

Luno explains to Edge Markets Financial Publication “IRB is investigating a case involving the difference between tax rates. As a part of it, IRB requires us to provide all the information of Malaysia customers: identification, deposits/withdrawals and transactions.” Luno also requires its customers to comply with the tax regulations. At the same time, Luno customers in Malaysia can still use MYR to trade Bitcoin and Ethereum.

Subsequently, BNM (Bank Negara Malaysia) proposes a strict KYC/AML checking to domestic digital currency exchanges and works out a supervision draft for digital currencies to protect citizens and enterprises. BNM says “The public has realized that digital currency is not legal tender in Malaysia.” 

    Adapted from: cointime Author: cointime Executive editor: jessie
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