Huobi Plans Backdoor IPO Attempt in Hong Kong, Document Suggests

Cryptocurrency exchange Huobi appears to be inching towards a reverse initial public offering (IPO), according to a document posted with Hong Kong Stock Exchange (HKEX). In the filing, dated Sept. 10, Hong Kong-listed electronics manufacturer Pantronics Holdings Limited, acquired by Huobi last August, disclosed it will change its name to Huobi Technology Holdings Limited. The company transferred more than 221 million ordinary shares to Huobi Group at its acquisition, according to shareholding disclosures. The $77 million deal made the cryptocurrency exchange the majority shareholder in Pantronics, with an over 73 percent…

South Korean Watchdog Plans Direct Supervision of Crypto Exchanges

A South Korean financial watchdog under the Financial Services Commission (FSC) is planning to more closely supervise cryptocurrency exchanges. The agency in question, the Financial Intelligence Unit (FIU), has said it will directly regulate crypto trading platforms, which currently are indirectly controlled via guidance given to banks, says a report in Business Korea on Wednesday. For example, last year, the FSC amended the anti-money laundering rules applying to cryptocurrency exchanges, which was to be carried out by requiring domestic banks to tighten up monitoring of exchange-held accounts. In today’s report, Lee Tae-hoon, director…

Disgraced Ex-Enron CEO Plans Blockchain Comeback after 14-Yr Jail Term

A little over a month after being released from prison for his involvement in one of the grandest corporate scandals in history, Jeffrey Skilling, the former chief executive of collapsed U.S. energy giant Enron is reportedly eyeing the blockchain sector, according to the Wall Street Journal report. The report adds that Skilling has met with ex-Enron executives as well as software developers and blockchain and cryptocurrency specialists. Per sources, the early-stage project is basically a digital platform which will connect investors to energy projects. One of the former Enron executives…

‘No Change’ to Bitcoin Futures Plans, CME Says, as Cboe Pulls Back

It’s business as usual for CME Group’s bitcoin futures market, despite a retrenchment by rival derivatives exchange operator Cboe Global Markets. Contacted by CoinDesk Friday, a spokesperson for CME said the exchange has “no changes to announce re our bitcoin futures contract” and declined to comment on Cboe’s pullback. The affirmation is notable in light of the news Thursday that Cboe will not add a bitcoin futures contract for trading in March. This means that after the last currently traded futures expire in June, this market will essentially come to…

Blockchain Project Polkadot Plans ICO to Raise Another $60 Million: Report

Blockchain project Polkadot is reportedly seeking to raise up to $60 million through another initial coin offering (ICO). According to a report from The Wall Street Journal on Thursday citing “people familiar with the matter,” the startup’s latest token fundraising effort would bring the value of all its tokens to $1.2 billion, when those not in circulation are included. Polkadot previously raised more than $145 million via a token sale in October 2017. Soon after, though, it had ether tokens to the value of $98 million frozen due to a bug…

IBM, Aetna, PNC Explore Medical Data Blockchain for 100 Million Health Plans

IBM is collaborating with a group of major players in the healthcare space to improve the way sensitive data is shared and make health claims and transactions more efficient – all in the form of a “blockchain-based ecosystem.” Announced today, Big Blue is joined in this effort by Aetna (acquired last November by pharmacy and health plan provider CVS Health), health plan provider Anthem, Health Care Service Corporation (the largest customer-owned health insurance provider in the U.S.) and PNC Bank. These providers combined account for close to 100 million healthcare…

Thai Stock Exchange Plans to Launch a Token Trading Platform

The Stock Exchange of Thailand (SET) is looking to capitalize on investor interest in cryptos by offering a new digital assets exchange. According to a report from Bangkok Post on Thursday, the SET is planning to apply for a license from the country’s Ministry of Finance to operate the platform. The move comes as the exchange looks to capture the growing investor demand for cryptos, Pattera Dilokrungthirapop, vice-chairwoman of the SET board of governors, said in the report. The stock exchange will work to have a sound technical system in…

Thailand Plans Blockchain Token for Instant Securities Settlement

A prominent securities markets body in Thailand is preparing a blockchain-based token that will power instant clearing and settlements of corporate bonds. After researching blockchain technology for a bond registrar services platform, the Thai Bond Market Association (TBMA) has revealed its intention to create a “Bond Coin”, a custom token on a private blockchain between permissioned participants including issuers and investors alongside regulators and registered firms. Notably, the TBMA has already received permission from the Securities and Exchange Commission, the country’s securities market regulator, to develop the blockchain in a…

BitTorrent Has ‘No Plans to Change’ After $120 Million Tron Acquisition

Peer-to-peer file sharing service BitTorrent seemingly pushed back against claims that it would begin using cryptocurrencies after being acquired by the Tron Foundation. In a statement posted to its website Tuesday, BitTorrent wrote that the company has “no plans to change” its business model and will not charge fees for any of its services. Further, the company stated that it has “no plans to enable mining of cryptocurrency now or in the future.” The company was recently acquired by the Tron Foundation’s Justin Sun, according to a report from Variety.…

Australia Plans Blockchain Prototype to Deliver Welfare Payments in 2019

Join our community of 10 000 traders on Hacked.com for just $39 per month. The Australian government’s digitization agency has revealed plans to explore the implementation of blockchain technology in delivering social security welfare payments to citizens. Speaking at a conference in Sydney last week, Digital Transformation Agency (DTA) chief executive Randall Brugeaud underlined welfare payment delivery as an early use case for its blockchain implementation effort. The DTA was established in 2015, part of the government’s broad digitization agenda that tasks the agency to engage other government bodies and…