The government of the Republic of Uzbekistan has ordered a 300% increase on electricity tariffs for cryptocurrency miners. According to a Sept. 27 announcement, the Cabinet of Ministers of the Republic of Uzbekistan has decreed that cryptocurrency miners must pay three times more the existing electricity tariffs. The provision follows an Aug. 22, 2019 decree from President Shavkat Mirziyoyev entitled “On Accelerated Measures to Improve Energy Efficiency of Economic Sectors and the Social Sphere, Implement Energy Saving Technologies and Develop Renewable Energy Sources” and to further motivate the rational use of electrical energy by consumers. Uzbekistan’s approach to crypto and …

Major Asia’s blockchain-focused venture capital firm CMCC Global has launched a new institutional tracker fund for Bitcoin (BTC). Custody by Hong Kong Stock Exchange-listed firm Called the Liberty Bitcoin Fund, the Bitcoin index fund deploys Anxone, a custodial solution developed by BC Group, tech and digital asset company listed on the Hong Kong Stock Exchange, according to a press release published on Sept. 17. As one of Asia’s first blockchain VC firms, Hong Kong-based CMCC Global has initiated the Liberty Bitcoin Fund in a move to provide institutional-level access to Bitcoin without the burden of buying and safekeeping coins, the …

The United Kingdom, the United States, Hong Kong and Singapore have the largest number of registered digital currency exchanges, according to data from Bitfury’s blockchain analytics platform Crystal. Crystal published its “Report on International Bitcoin Flows 2013–2019” on Sept. 9, in which it provides insight into cryptocurrency operations and Bitcoin (BTC) transactions around the world between Jan. 1, 2013, and June 30, 2019. U.K. and U.S. lead the rating The findings show that the largest number of registered crypto exchanges are in the U.K., the U.S., Hong Kong and Singapore. Countries such as Argentina, India, Mexico, Russia and Indonesia report …

Thailand-based multinational energy conglomerate PTT and blockchain energy nonprofit Energy Web Foundation (EWF) are jointly building a blockchain-based renewables platform. According to a press release shared with Cointelegraph on Sept. 11, the parties are developing a regional solution based on the Energy Web Chain. The new product will also be compliant with the International Renewable Energy Certificate (I-REC) Standard, which certifies renewable energy sources. I-REC certificate demand Energy producers can apply for I-REC tracking certificates from an issuer appointed by a government or trade organization. Once the tickets are submitted to a central registry, energy suppliers and purchasers can prove …

Hong Kong-based cryptocurrency futures exchange CoinFlex has received $10 million through a funding round that closed last week. Recent funding and goal Asia-focused newspaper South China Morning Post (SCMP) reported the news on Aug. 26. According to the report, CoinFlex received funding from Bitcoin Cash (BCH) advocate and Bitcoin.com CEO Roger Ver, as well as Polychain Capital, NGC Ventures and Divergence Digital Currency. Polychain Capital and Digital Currency Group joined CoinFlex’s investment consortium back in March. CoinFlex is now reportedly looking to increase business from Asian retail investors. A safe haven from price manipulation? Per SCMP, CoinFlex describes itself as …

Cointelegraph is pleased to announce that we are continuing to increase our presence in Asia with the launch of Cointelegraph Korea. Today, Aug. 23, we celebrated the launch of a Korean-language version of Cointelegraph and the opening of our Korean headquarters in Seoul. To commemorate the move, Cointelegraph hosted an event in the city’s financial district, attended by over 150 guests from the finance and blockchain industries. Guests included representatives from banking giants Woori Financial Group and Shinhan Financial Group, as well as Busan-based securities operator Korea Exchange. The city of Busan’s vice mayor for economic affairs also gave a …

Upon its inception, Bitcoin was envisioned as a borderless currency that could be used by its owners without being affected by the regulatory impositions of any centralized agency or government body. And while this idea in itself is quite grand, the fact of the matter is that today's crypto owners (across the globe) are subject to varying tax restrictions on their digital holdings by local regulatory bodies. Also, over the course of the past few months, a number of tax agencies around the globe, (such as the United States Internal Revenue Service) have been in the process of creating new …

Taiwanese crypto exchange Maicoin is in talks with Facebook about becoming a member of the Libra Association. As local media outlet the Taipei Times reported on Aug. 21, Maicoin wants to join the nonprofit responsible for developing the social network’s long-awaited stablecoin. The company is specifically looking to operate a node on the blockchain-based network, which would validate and record transactions on the shared ledger. Participation in Libra development Maicoin CEO Alex Liu reportedly expressed confidence in the exchange’s chances for participating in the development of Libra, stating that: “When we reached Facebook and discussed getting involved in the project, …

The number of South Korean digital currency projects leaving the country to list their products on foreign exchanges is increasing, experts say. South Korean news outlet Business Korea reported on Aug. 19 that industry experts have noticed a surge in cryptocurrency and blockchain-focused projects seeking to list their early-stage products on overseas platforms. Experts define reasons behind projects’ departure Experts named several key reasons that local projects are leaving, including stricter domestic cryptocurrency exchange market conditions, wherein investors are not able to make or withdraw deposits in the Korean won on Korean exchanges. Another reason named is low transaction volume. …

South Korean cryptocurrency exchange Coinone has released a set of criteria for determining whether to list new digital currency projects on the exchange. In a blog post published on Aug. 8, Coinone described nine criteria cryptocurrency projects should comply with in order to be listed on the exchange. Coinone will specifically consider such issues as sustainability of business models, transparency of governance, token distribution plan, vision and value, market size, use case, team formation, roadmap achievement rate and marketability. Focus on the South Korean market In detailing the criteria, Coinone stressed that a crypto project should have a South Korean …

Privacy-focused cryptocurrency Zcoin is now available for spending in Thailand at any merchant registered with the Thai QR code system through Satang App. According to an announcement published by Zcoin on Aug. 15, over 50 million users of Satang App can now use Zcoin at local merchants both in-store and online by scanning a QR code. The system instantly settles transactions and allows merchants to be paid in Thai Bhat via regulated exchange Satang Pro. Although the development is an important step in the mainstream adoption of digital currencies, Zcoin noted in its announcement that: “One common problem with convincing …

Australian energy technology company Power Ledger and Japanese Kansai Electric Power Co. (KEPCO) have completed a joint trial of a blockchain-based system for post-FIT (feed-in tariff) surplus power in Osaka. P2P transaction of surplus power In an announcement published on Aug. 12, Power Ledger revealed the test completion of a peer-to-peer system demonstrating benefits for post-FIT surplus power in the Japanese city of Osaka. The system purportedly enabled KEPCO to conduct a P2P transaction of surplus power autonomously and automatically, which included settlements with digital currency. Fumiaki Ishida, KEPCO representative general manager, commented on the development: “Although there are still …