Thursday’s blockchain and crypto news, from Asia and beyond
Korean lawyers, Taiwanese money laundering controls, Israeli 'e-shekels,' booming Bitcoin jobs and why we should no longer be using the 'b word'
Korean lawyers call for crypto-currency and investor protection laws: South Korea’s Bar Association has lobbied its government to establish a legal framework for the blockchain and crypto-currency industries that will help protect investors. At a press conference held at parliament, that Reuters says was a rare public campaigning move by the Association, the government was urged to “break away from negative perceptions and hesitation and draw up bills to help develop.”
Money Laundering fears see Taiwan ban anonymous crypto transactions: Taiwan has ordered all crypto-currency exchanges operating in the country to identify users through know-your-customer checks. Taiwan’s highest legislative body, the Legislative Yuan, passed amendments last week to the Money Laundering Control Act and the Terrorism Financing Prevention Act that now gives financial watchdog the Financial Supervisory Commission the authority to fine anyone involved in anonymous virtual currency transactions.
Time to ditch the ‘b-word’? An article in Fortune highlights new research that claims “continued hype and unrealistic promises drive risk of a looming blockchain winter.” The article says firms are ditching “the b-word” in favor of “DLT,” which means “distributed ledger technology.” It doesn’t really have the same ring to it and actually sounds more like a sandwich.
Bitcoin and blockchain related jobs jump 300%: A new report from Glassdoor – yes, that site you check to leave nasty comments about your old co-workers – confirms that the Bitcoin and blockchain job sector is booming. Unsurprisingly New York and San Fransisco lead the job openings table and internationally London is at the top, followed by Toronto, Singapore and Hong Kong.
No ‘e-shekel’ for Israel: While Iran, Venezuela and the Marshall Islands are all, in quite different ways, looking to release their own crypto-currencies, Israel’s central bank has released an unequivocal report that “does not recommend that the country issue digital currency in the near future.” The report argues that “no advanced economy has yet issued digital currency for broad use” because their payment systems “are efficient and provide good alternatives.”