Guangdong Province Supports Financial Technology’s Applications
Guangdong Province in China published Policies and Measures for Further Promoting Technological Innovation on January 7, in which Art. 8 encourages prefectural-level cities and above to develop fintech industries and therefore attract fintech companies and professionals. Guangdong government showing support to the application of cloud computing, big data, blockchain, and AI in finance.
Japan Financial Services Agency LimitsCryptocurrency Investments
According to the news released by Japan’s Industrial and Economic Newspaper on January 8, the Japan Financial Services Agency limits cryptocurrency investments. In additional, financial companies use cryptocurrencies to raise funds is subject to the National Financial Instrument and Exchange Law.
Thailand Ministry of Finance Approved Business Licenses for Four Digital Asset Companies
According to Bangkok Post’s news on January, the Thailand Ministry of Finance approved four business licenses for four digital asset companies while denying two others’ applications. Among those approved, Bitcoin Co. Ltd. (bx.in.th), Bitkub (bitkub.com) and Satang Corporation Co. Ltd. (Satang.pro) are authorized digital asset exchanges. Coins.co.th (Coins.co.th) is a cryptocurrency specialist and dealer. Cash2Coins (www.cash2coins.com) and Seadex (seadex.io) were rejected.
China Established a Filing System for Blockchain Information Services and Will Conduct Periodic Inspection
Cyperspace administration of China released the Administration of Blockchain Information Services on January 10. The release indicates that the provider of blockchain information services should be included in a filing system and inspected periodically, starting from February 15.
Kaohsiung City in Taiwan is Launching the Government-Backed Stablecoin Pilot Program
According to Cryptonews, Kaohsiung, one of the major cities in Taiwan, is launching stablecoins. The program is backed by the local tourism bureau and financial institutions. The move is a direct response to an influx of, particularly South Korean, tourists.
It will be launched on January 18 at three popular tourist destinations: Nanhua Market, Guanghua Market, and Liuhe Night Market. The government indicated that the program was based on the blockchain technology and that users could use stablecoins with smartphones.
