01-23-2018: South Korea Fines Domestic Cryptocurrency Exchanges $130,000

Nasdaq is still estimating whether “it is the right thing to” launch its own Bitcoin futures to compete with the futures products of Chicago Board Options Exchange (CBOE) and Chicago Mercantile Exchange (CME). Nasdaq is currently looking for the ways to produce something “unique enough” to make it different from its competitors and attractive for users, said CEO Adena Friedman. Friedman stated “We have been working with the industry … to look at whether or not [launching our own futures product] is the right thing for us to do,” Friedman said, adding that Nasdaq is “still evaluating that” (cointelegraph).

The Enterprise Ethereum Alliance (EEA) has appointed Ron Resnick, the former president and chairman of the Airfuel Alliance, as the first executive director. Resnick also served as the President and Chairman of the WiMAX Forum, working with Intel’s Broadband Wireless Business on the launch of one of the first 4G broadband modems. Chairman of the EEA board Julio Faura stated in a press release: “4G wireless broadband changed the world. We believe Blockchains will have a similar impact on society. Ron’s task as our first Executive Director is to build-out the organization, engage with members and foster the continued development of technical content” (cointelegraph).

The South Korea government has issued fines totaling $130,000 to domestic cryptocurrency exchanges for providing insufficient user data protection. In a public announcement, the Korea Communications Commission (KCC) said the penalty is a result of an investigation that the agency conducted from October 10th to December 28th in 2017 across 10 domestic crypto exchanges. Launched as a ministry-level agency, KCC is responsible for regulating the broadcasting and telecommunications sector, as well citizen’s information protection. Among the 10 surveyed companies, eight were found to be violating the Information and Communication Network Act, which mandates user privacy protection methods. The eight penalized companies are: Upbit, Ripple4y, Coinpia, Youbit, Korbit, Coinone and Coinplug, as well as Eyalabs, a cryptocurrency wallet service (coindesk).

And lastly, Huobi, the cryptocurrency exchange, has announced that they will issue a token, the ‘Huobi Token’ or HT. The offering will be capped at 500 million tokens, of which 300 million will be offered to investors and the remainder kept as user incentives or team rewards. The offering, though, is not to be understood as an ICO, with the Huobi press release indicating that only users who are actively participating in the platform can receive HT (cointelegraph)

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