Kakao establishes its blockchain branch

Along with the blockchain solution South Korean messenger prepares ICO launch
05 March 2018   118

Today, on March 5 Kakao announced its subsidiary with a premature brand Kakao Blockchain. Along with such establishment service provider for KakaoTalk eyes an ICO launch. As running ICOs is illegal in Korea, experts suggest it'll be held either in Singapore or Hong Kong.

Most likely with the launch of the ICO, a native token will be introduced as well - Kakao Coin. As a token for the whole platform, it will be used as a native currency in a number of Kakao apps like KakaoTalk, Kakao Drive, Kakao Games, etc. The representative of the new organization appointed to the CEO of a tech startup incubator Future Play - Jae-sun Han.

The rate pf penetration of Kakao apps and the whole ecosystem is astonishing in South Korea: specific markets like messaging and fintech have almost 90% of Kakao involvement. Thus, today's move to establish own blockchain platform should be not only successful, but almost surely solidify even more the strong positions of Kakao services.

Kakao, which operates KakaoTalk and KakaoPay that have 90% penetration in messaging and fintech markets in South Korea, created a blockchain company, first reported by @CryptoKorean

Several major media outlets hint Kakao launching its own cryptocurrency


Joseph Young‏ @iamjosephyoung


To remind the readers, South Korea has confirmed at the end of January that iit has intention to ban cryptocurrencies.

SEC to Start Crypto Hedge Funds Check

To date, the regulator has identified at least 100 funds working with crypto-currencies
23 March 2018   10

The US Securities and Exchange Commission is preparing to check about 100 hedge funds that work with crypto-currencies. The Wall Street Journal writes about this with reference to a source familiar with the situation.

The initiative followed the announcement of the verification of dozens of crypto-currency start-ups suspected of spreading securities under the guise of digital tokens.

Although the agency will pay attention to various violations during its audit, the main task is to inform the market participants about the policies that the regulator adheres to the crypto currency, the source said.

The audit will begin within 2 months, the source said. The Commission will pay attention to whether the assets that buy hedge funds match those that they offer to their investors. The SEC will also check how hedge funds inform investors about the risks and how their documents describe the trading strategy for crypto-currencies and tokens. To date, the regulator has identified at least 100 funds working with crypto-currencies.

The SEC directly regulates hedge funds under the control of which there are assets worth more than $ 150 million, and smaller companies check periodically. In 2017, 84 crypto-currency hedge funds were launched.