Topic: The Asian Crypto Forecast: News and Predictions For Digital Currencies and ICOs (Read 137 times)

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If you do not like the crypto weather in Asia now, just wait a few minutes. The chances are high that it will change. We decided to examine the current situation with digital currencies and ICOs in some major Far Eastern countries in order to produce our own market forecast.

CHINA

While leading in the number of blockchain patent applications, China’s relationships with cryptocurrencies have been somewhat stormier, from constantly tightening the screws on the crypto market, to officially banning all ICOs, to talks about implementing a government-controlled digital currency. All these measures seem to have been taken with one fundamental aim: to protect the yuan. Recently, the country has been taking action that is widely interpreted as a sign that things might start to clear up. In particular, fervent hopes are pinned on Yi Gang, who has been appointed Governor of PBoC. However, the country will not simply veer off course; it has been announced that crackdowns on cryptocurries will continue.

JAPAN

Until quite recently Japan had been rather permissive. Yet the latest news is hinting that it may be getting a bit chilly out there. First, the FSA ordered that Binance, one of the major exchanges, suspend its operation. This was followed by Japan’s financial watchdog closing two more exchanges, and by five more platforms withdrawing their applications with the FSA. More shutdowns are now being expected. In addition, rumor has it that the Japanese government has been ruminating about imposing regulations on ICOs. So the question now is if the chance of showers will be upgraded to a major storm warning?

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