Friday’s blockchain news, from Asia and beyond
Friday brings another Indian ban, a Korea-Israel blockchain JV, a Binance school, an 'offensive research' firm and a new crypto for UAE and Saudi
Has India at last formally banned crypto-currencies? The ongoing has it or hasn’t regulatory saga in India regarding the country’s crypto-currency ban has been intriguing and illuminating for observers yet frustrating for crypto industry players. The latest twist is a government panel is now recommending a “complete ban” on all crypto-currencies but, as those who have been following this story will well know, this will not be the end of the story. It means nothing until bills are drafted and that could take months. Or years.
Korea’s Kakao invests in Israeli blockchain firm: Korean social media giant Kakao has put money into Israeli blockchain startup Orbs. Kakao, which runs South Korea’s biggest messaging app platform, did not disclose the size of the investment, but earlier this year said it would establish a specialist blockchain unit. Orbs said the investment will build on its existing partnership with the Kakao blockchain subsidiary, Ground X, that has seen the two companies working on blockchain dApps and research and development projects.
Binance starts crypto learning platform: Proudly known as the world’s leading crypto-currency by volume – although the position is closely challenged by OKEx – the Chinese-founded, Malta-based trading platform is never far from the news. It is making headlines once again with the launch of Binance Academy, a site to teach people about crypto-currencies. Available in 15 languages, the site has primers on everything from the history of blockchain to mining. It’s not clear if its courses are going to cover digital currency regulations.
LINE acquires ‘offensive research’, counter-hacking firm: A Korean subsidiary of Japanese social media firm LINE has bought GrayHash, an online security research center specializing in “offensive research” and counter-hacking techniques. GrayHash will be tasked with developing and optimizing security solutions for LINE’s crypto-friendly offerings, that include messaging, FinTech, AI, blockchain and its digital asset exchange services.
UAE and Saudi Arabia to launch crypto-currency: The United Arab Emirates and Saudi Arabia are creating a digital currency that will be used in cross-border transactions. It will be limited to inter-bank transactions. Both countries have been hard at it to become regional blockchain leaders, with Saudi’s central bank working on blockchain settlement systems and the UAE piloting both blockchain exchange and government admin platforms.