Latif Sim

Remy Blaire is joined by Peko Wan, Co-CEO at Pundi X to discuss the gradual adoption of crypto as a genuine asset class. How will we see businesses and governments integrate crypto into everyday life as international markets begin to embrace crypto? They discuss the methodology for the ranking crypto indexes around the world and how countries are utilizing defi protocols. FINTECH.TV

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Good to see Vietnam joining the batch of countries with formal Blockchain policies accented on regulation. Rules that help develop distributed ledger transformation help expand the use cases. Added to the work the European Union and others are doing outside of the financial use case, this helps the move forward. Specifically for Vietnam, supply chain seems to be a top use case where blockchain can add value. Another core use case would be digital identity and it's potential beneficial impact on tourism.

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As we have three different types of #stablecoins (bank, trust bank or money transfer-based), work has commenced to establish how to exchange one type versus another.

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In the wake of the FTX collapse in late 2022 and subsequent crypto contraction, The Atlantic published a think piece titled “You Can Forget About Crypto Now.” Sure enough, the doom and gloom outlook on digital assets was palpable for more than a year thereafter. Meanwhile, AC Ventures Founding Partner Pandu Sjahrir asserted on an episode of Indonesia Digital Deconstructed that crypto “remains intact as an asset class.” Fast forward 15 months. Jesse Choi of the Indonesian crypto exchange Reku recently joined the podcast to report that his company has become profitable. The significant resurgence in the crypto market in 2024, particularly with Bitcoin reaching all-time highs, can be primarily attributed to two major factors: the Bitcoin halving event and the legitimization of the crypto sector at large via the introduction of BlackRock’s Bitcoin ETF. ⚡ Check out the full story below! 🗞️ Subscribe to AC Insights: https://lnkd.in/g8qbFykV #podcasts #crypto #reku #profitable

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🚀 Deep Dive into Singapore Crypto Financial Reporting 🚀 Elven Global Crypto Compliance Report 🌐 Navigating crypto accounting is complex. From the IFRIC agenda in 2016 to ISCA's 2020 guidance, the landscape has evolved. We analyzed the 2023 financials of 9 MAS-licensed blockchain entities: 7 with MPI, 2 with RMO/CMS licenses. 👉 Read our latest report for an in-depth analysis: [Link to report in comment] #Elven #CryptoCompliance #Singapore #MAS #MPI #Blockchain #Research

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Thank you, Remy Blaire FINTECH.TV for having me share insights on real-world crypto adoption during the prime slot right before the opening bell. It was a remarkable experience. In countries where the currency has devalued against the US dollar, crypto plays a crucial role in people's daily lives. Do follow FINTECH.TV to learn more about the latest web3 news and trends!

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🚨 Is Binance Facing a Ban in the Philippines? 🇵🇭🔒 The Philippines' SEC has formally banned Binance due to non-compliance with local regulations. This decisive action raises major concerns among crypto traders. As of March 25, ISPs are required to block Filipinos' access to Binance, severely impacting user operations. Apple and Google have also been told to remove the Binance app from their stores. Local traders now face higher fees and a less diverse selection of crypto tokens. Despite these challenges, the move is seen as a positive one for local crypto exchanges, boosting local economy. Read more below: #recruitment #crypto #blockchain #web3

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Devcon Bangkok - Lou Kerner reporting Our very own globetrotting Web3 crusader Lou Kerner, in his recent Medium post , shared his enthusiastic impressions of Devcon in Bangkok. He was particularly struck by the electric vibe of the Ethereum Foundation community, highlighting the strong sense of shared purpose and ambition that pervades this group. Lou notes that the event reinforced his belief in Ethereum's potential to drive a decentralised future. Here are some of Lou's key observations: The choice of Bangkok as the venue was inspired - He was impressed by the city's vibrancy, affordability, and its blend of exotic culture and world-class service. He also praised the Queen Sirikit National Convention Center, a majestic and spacious venue that comfortably accommodated the 12,000 attendees. The announcement of the Beam Chain generated significant buzz - Proposed by Ethereum researcher Justin Drake, the Beam Chain is an ambitious concept aiming to enhance Ethereum's consensus layer for faster block production and finality. Lou acknowledged the community's discussions about the feasibility of implementing such a complex proposal, noting Drake's own admission that it's more of a starting point than a complete solution. Nevertheless, the Beam Chain proposal underscores the expansive ambitions of the Ethereum developer community. There was a palpable sense of Ethereum's dominance - Lou observed that Solana, often positioned as an Ethereum competitor, received little attention at Devcon. He suggested that this might reflect a growing consensus that Ethereum is on track to become the leading Layer-1 platform for the future of money and value transfer. While also a fan of Solana, Lou argued that its price movements relative to Ethereum (Sol/ETH) are not necessarily indicative of Solana "winning" over ETH but rather reflect Solana's higher beta, making it more volatile in both upward and downward market trends. Two of the 450 side events were his favourites - the Blockchain Association Stanford Summit (B.A.S.S) and CryptoMondays Bangkok, praising the quality of attendees and insightful discussions at both. His enthusiastic account of Devcon Bangkok offers a glimpse into the vibrant Ethereum community and its unwavering commitment to building a decentralised future. Click here to read the whole post https://lnkd.in/d9U5ckEz Click here to become a member of The CryptoOracle Collective  https://lnkd.in/d8NUEpcT

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Cryptocurrency In East Asia - Hong Kong & China: Chainalysis Report... 📃 📃 A digestible breakdown of all the key insights from Chainalysi's, latest data reveal. Regarding the state of the crypto industry in East Asia, jurisdictions such as Hong Kong, as well, mainland China. #Summary! 📌 Eastern Asia saw a drop in crypto activity in 2022 due to China's restrictions. 📌 Hong Kong is emerging as a crypto hub, accounting for a significant portion of global crypto activity. 📌 Despite its small population, Hong Kong's crypto transactions rival those of mainland China. 📌 Retail investors dominate South Korea's crypto market due to strict regulations. 📌 Japan balances retail and institutional crypto activity. Hong Kong's crypto resurgence may influence China's stance, but it's unclear how. 📌 Cross-border wealth preservation and international payments drive crypto adoption in the region. #TheRiseOfCryptoInEasternAsia! Crypto has undergone a remarkable transformation over the past decade. What began as a remote concept, has become a global phenomenon, with millions of users spanning numerous countries. Despite facing challenges, including a bear market in 2022, crypto adoption has surged, particularly in developing nations. Asian countries like the UAE and Singapore have been at the forefront of this growth. #HongKongsCryptoProwess! Hong Kong's crypto dominance is evident when examining raw transaction volume. Between July 2022 & June 2023, the city received an estimated $64.0B in crypto. Despite Hong Kong's small population, this figure is not far behind mainland China's $86.4B received during the same period. One of the driving forces behind Hong Kong's crypto surge is its highly active OTC market. #CryptoInSouthKoreaJapan: #ADiverseLandscape! Regulatory Challenges and Retail Dominance, in South Korea stand out, making it as a distinctive player in the Eastern Asian crypto arena. Its crypto market is characterized by a notable absence of large institutional transactions, with a majority of activity stemming from retail investors. Its argued, this disparity can be attributed to local regulations that impose significant barriers for financial institutions seeking to participate in crypto. #HongKongsCryptoGrowth: #HowItAffectsChina! Hong Kong, is a SAR of China, and has been at the forefront of crypto growth in Eastern Asia, it's an intriguing case study for the broader Chinese crypto landscape. A factor in Hong Kong's crypto resurgence is its regulatory autonomy. Unlike mainland China, Hong Kong has the authority to establish its own crypto regulations. Recent changes have allowed for regulated retail crypto trading, reflecting the region's openness to crypto within a structured framework.This newfound regulatory flexibility has also seen Chinese state owned businesses engage in crypto focused investment initiatives and collaborations with local crypto firms. #yesCHINAandHONGKONGwillbecomeASIANandGLOBALcryptoPOWERHOUSES... 🇨🇳 🇭🇰

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Lessons from Devcon Bangkok: Organising for Decentralised Communities 🌍✨ #Devcon Bangkok is setting a new standard for events aimed at decentralised communities. Breaking from the traditional top-down approach, Devcon embraces the decentralised ethos of the crypto space, putting power in the hands of attendees. Here are some key takeaways for event organisers in Web3: Decentralise the Structure: Devcon allows attendees to propose, manage, and host their own parallel events. From community-led workshops to spontaneous meetups, participants take ownership, creating a dynamic environment where everyone is integral to the experience. 🙌 Elevate Community Participation: When attendees have the chance to be creators, not just spectators, the event’s impact deepens. At Devcon, hackathons let participants collaborate, problem-solve, and share real-time projects, transforming the space into a vibrant, interactive experience. 💬 Gather Real Feedback: A truly decentralised event values feedback from the community. Devcon hosts open sessions for attendees to share their experiences, insights, and ideas for future events, reinforcing a culture of transparency and continuous improvement. 🤝 Creating events that resonate with decentralised communities means embracing collaboration and community-led initiatives. When done right, it leads to higher satisfaction and loyalty among attendees. What lessons have you taken away from decentralised events? Share your thoughts in the comments! 💭

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This shows how eager Singapore is trying to attract #blockchain engineers, half of the developers needed are #crypto related, full list can be found here, https://lnkd.in/g4VanMpz

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Korea to trial digital vouchers based on CBDC-based deposit tokens #stablecoin #CBDC #DigitalPayment #banking #DigitalCurrency  #Cryptocurrency #digitalPound #fintechnews #cbdccommunity  #blockchain #AI #finance #currency #regulatory #DigitalAssets #data #london #US #digitalmarketing #digitaleuro #Fintech #SecurePayments  https://lnkd.in/dVuEcNpX

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India's Bharat Web3 Ass'n inks MOUs with Australia' Digital Economy Council and Asosiasi Blockchain Indonesia for collaboration, standards development and more. "In Australia, the Web3 sector contributes AU$2.1 billion (USD 1.428 billion) and employs 11,600 skilled workers (source). The data from Indonesia’s Directorate General of Taxes (DJP) at the Ministry of Finance reveals that tax revenue from the VDA industry is consistently increasing. The VDA sector contributed Rp798.84 billion (USD 52.01 million) in taxes between May and June, which is 3% of the total tax collected from digital economic activities (source). In India, the Web3 industry contributed over Rs 1,260 crore (USD 150 million) in taxes in the last fiscal year (source). This data proves that the Web3 industry has tremendous potential to contribute to economic growth and job creation in our respective countries." https://lnkd.in/gHZER_jz #india #australia #indonesia #web3 #blockchain #techstartups #asiatechnews

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PUSO 🚀 PUSO is a decentralized, over-collateralized algorithmic stablecoin on the Mento Labs platform that tracks the Philippine Peso. Stablecoins can reduce the risk of price volatility. Unlike fiat-backed stablecoins, algorithmic stablecoins using an open-source, smart contract-based stability mechanism maintain their value more transparently, eliminating centralized credit or counterparty risks. Like the Celo Foundation Dollar (cUSD) and Celo Euro (cEUR), and Celo Kenya Shilling (cKES), the Philippine Peso stablecoin (PUSO) is built on the Mento Platform and backed by multiple digital assets, including USDT, USDC, BTC and ETH, within the Mento Reserve. At the time of writing, the Mento Reserver website lists a collateralization ratio of greater than 4x.

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Gemini Earn users will receive $2.18B of their digital assets back in kind--a 232% recovery. This means, for example, that if a customer lent one bitcoin in the Earn program, they will receive one bitcoin back. This ensures that customers will benefit from any and all appreciation of their digital assets since they lent them into the Earn program. This represents an unprecedented recovery among crypto bankruptcies, as well as bankruptcies in general. It has been humbling to have been part of this incredible team over the last few months, which has been tireless in its efforts and laser focused on doing the right thing to achieve this incredible outcome.  https://lnkd.in/gtHA7yeQ

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Introducing Pyth Network, Silver Sponsor at TOKEN2049 Singapore. Pyth Network secures smart contracts with reliable, low-latency market data from institutional sources such as Jane Street, CBOE, Binance, OKX, and Bybit. Learn more about Pyth Network at pyth.network

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Here are 6 crypto stories you need to read this week 🌎 🌍 🌏 Indonesia reclassifies crypto for tax purposes, Japan’s big banks pilot stablecoins and Australia outlines a 3-year roadmap for CBDCs. Can the US keep up? 🇰🇷 Starts its first check-ups of virtual asset service providers - it’s part of a new law to make sure companies are open and compliant. https://lnkd.in/eJGTY5BA 🇯🇵 Big banks will pilot stablecoins and simplify the cross-border payments process using a new system on a blockchain-based platform called Project Pax. https://lnkd.in/gm6h9TDV 🇮🇩 Regulators are preparing new tax rules to reclassify crypto as digital financial assets rather than commodities. Expected by early 2025. https://lnkd.in/eD4w3KbS 🇹🇭 Announced that securities and futures firms can carry out business involving crypto and investment tokens through separate legal entities. https://lnkd.in/e6z73ZYF 🇦🇺 The Reserve Bank of Australia is prioritizing the development of digital currencies used by banks and financial institutions in its 3-year Digital Money Roadmap. https://lnkd.in/eyX_J_X9 🇪🇺 Portugal and Finland obtain important roles for European Union crypto policy. https://lnkd.in/euKa73bY

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🎓 #Stablecoins Report by Visa Can CBDCs Compete? Let’s dive into Visa’s latest report on stablecoins: 🔍 Key Metrics: • $170B worth of stablecoins in circulation • $3.7T settled using stablecoins in 2023 • $35B+ daily trading volume Usage Insights from emerging markets (India, Indonesia, Nigeria, Turkey, Brazil): • 47% for USD access • 43% for better currency conversion rates • 32% for international payments • 39% for goods/services Why Stablecoins Have an Edge Over CBDCs: 1️⃣ Decentralization & Flexibility: Stablecoins operate on decentralized blockchain networks, offering more freedom and privacy compared to CBDCs, which are centrally controlled. 2️⃣ Global Reach & Accessibility: Stablecoins facilitate cross-border transactions, making them ideal for global commerce and regions with less financial infrastructure. CBDCs are typically confined to national borders. 3️⃣ Innovation-Driven: Driven by the private sector, stablecoins foster rapid innovation and integration into the crypto ecosystem. CBDCs face slower development due to bureaucratic hurdles. 4️⃣ Cost & Efficiency: Leveraging blockchain technology, stablecoins provide fast, low-cost transactions. CBDCs often require complex infrastructure, potentially adding costs and slowing adoption. While CBDCs offer government control and security, stablecoins deliver flexibility, global reach, and innovation for today’s digital economy. For inquiries on licensing for stablecoin virtual assets in Dubai and Abu Dhabi, reach out to us at ➡ [email protected] #StableCoin #Regulation #Compliance #USC #Circle #CDBC #Dubai #VirtualAssets #VARA #ADGM #UAE

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