Korea's Jeju Island May Become ICO Hub

Governore belives that blockhain can help South Korea
14 August 2018   474

The governor of the South Korean province of Jeju Won Hee-ryong plans to make his island the center of the blockсрфшт industry. Despite the tough position of the state in relation to crypto-currencies, Jeju Island can be allocated to a special zone for ICO and cryptocurrency. This is reported by Korea JoongAng Daily.

Governor Won announced the proposal at a meeting with the South Korean government. The event, among others, was visited by the country's finance minister Kim Don Yong.

Blockchain can cut costs, provide stable transactions and essentially has the potential to become a game changer that could alter the ecosystem of the internet platform industry. For Korea to become a leader rather than a consumer of this new global industry, we need to quickly allow [the operation of] blockchain and cryptocurrency [firms].
 

Won Hee-ryong

Governor, Jeju

According to the plan of the governor Won, the blockchain start-ups in Jeju can easily conduct the initial offers of coins (ICO) and collect the necessary funds.

Also, the authorities of the Jeju province propose to create a special structure together with representatives of the state and experts in the crypto-currency area, which will deal with issues of state support for the block industry. There's no news on the mining regulation in Jeju.

Last fall, the South Korean authorities have banned the conduct of ICO, as well as all types of lending in digital currencies, including margin trading.

Сould you please attach your email address for us to send you the most interesting ICO's rating and reviews. No spam.

Bitmain to File IPO Application

The application was sent to Hong Kong Stock Exchange (HKEX)
27 September 2018   422

The largest mining company Bitmain has submitted to the Hong Kong Stock Exchange (HKEX) listing application for an initial public offering (IPO), according to CoinDesk.

The application is a draft option, and some of its details, in particular the number of shares offered for sale and the immediate date of the IPO, are still in the process of editing.

Nevertheless, the document indicates that last year Bitmain's revenue was $ 2,517,719,000. This figure is higher than in 2016 ($ 277,612,000). As of June 30, 2018, the company's revenue was $ 2,845,467,000.

The application said that in 2017 the gross profit of the company was $ 1 212.7 million, which is also higher than in 2016 ($ 151,351,000).

Earlier, the head of Bitmain, Jihan Wu, expressed his indignation over the actions of the company's chief financial officer, who disclosed the figures for the first quarter 60 days after his end, and not after 90, as he had expected.

The media suggested that in the run-up to the IPO the publication of such information could have a negative effect on the company's investment attractiveness.

In addition, the document confirmed the media's information that Bitmain owns a 3% stake in Opera's Internet browser thanks to an investment of $ 50 million.

The application also indicates that the underwriters of the IPO are China International Capital Corporation Hong Kong Securities Limited, Commerce and Finance Law Offices, Maples and Calder LLP, KPMG and Frost & Sulliva