Japan FSA Seminar: Derivatives Dominate 80% of Crypto Trading
The Japanese Financial Services Agency (FSA) held its seventh cryptocurrency exchange seminar. Official data revealed that among Japan’s 16 registered exchanges, 7 offer derivatives trading, accounting for 80% of domestic crypto transactions (spot trading constitutes only 20%). Notably, crypto-related complaints surged to 376 cases this year, far exceeding the 75 cases tied to forex trading.
Qtum CTO Critiques DApp Ecosystems
Zhong Wenbin, Qtum’s China CTO, recently argued that most decentralized applications (DApps) serve pseudo-demands. He highlighted:
- Token Incentives Lack Real-World Utility: Many projects design tokenomics without viable use cases, leading to inflated valuations.
- Users ≠ Speculators: The so-called "users" are often traders, not genuine adopters. True token utility remains scarce across projects.
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Bitfury Partners with PatentBot for Copyright Protection
Bitcoin mining giant Bitfury announced a collaboration with PatentBot to safeguard intellectual property via blockchain. Earlier, Bitfury engineered a Lightning Network-compatible coffee vending machine, streamlining Bitcoin micropayments.
India’s First Crypto ATM Launches in Bengaluru
Unocoin has adapted a traditional bank ATM in Kemp Fort Mall to facilitate cryptocurrency transactions, marking India’s debut crypto ATM. Key details:
- Minimum deposit/withdrawal: ₹1,000 (multiples of ₹500).
- Location: Bangalore’s Kemp Fort Shopping Center.
Korean Exchanges Expand Across Asia
Leading South Korean exchanges are targeting Southeast Asia:
- Coinone: Plans 2025 expansions into Singapore and Hong Kong.
- Bithumb & Upbit: Eyeing Thailand and Singapore for new branches.
FAQ Section
Q: Why does Qtum’s CTO criticize DApps?
A: Zhong Wenbin believes most DApps lack real-world utility, relying on speculative token models rather than genuine user adoption.
Q: What’s unique about India’s crypto ATM?
A: It’s the country’s first, requiring ₹1,000 minimum transactions and located in a major Bangalore mall.
Q: How significant are crypto derivatives in Japan?
A: They dominate 80% of trades, overshadowing spot markets.
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