Your Morning News Update

Goldman Sachs’ Move to Crypto Korean Government Staff Sold off Cryptocurrency Prior to Crackdown Economist: “Cryptocurrencies Likely to Become Legal Tender” MS Japan to Launch Blockchain Fintech Products Chinese Blockchain Company Makes Hotel Bid

Catch up on the most essential cryptocurrency and blockchain news stories breaking in Asia and the Americas while the rest of the world was asleep.

Goldman Sachs’ Move to Crypto
Goldman Sachs is set to enter the cryptocurrency arena in response to “requests from its clients to facilitate clearing.” The company’s CFO also says blockchain technology has “great and very broad application potential.” Goldman Sachs is still reeling from the shock loss of its executive director, Phillip Gillespie, the company’s former head of European foreign exchange G10 business. Gillespie recently announced he would be taking over as the CEO of Tokyo-based cryptocurrency venture B2C2 Japan.

Korean Government Staff “Sold off Cryptocurrency Prior to Government Crackdown Announcement”
South Korea’s Financial Supervisory Service (FSS) has admitted that at least “one or two” staff members sold off unknown quantities of cryptocurrencies prior to the government body’s recent crackdown announcements. The FSS says it is reviewing the case internally, and has asked civil servants to refrain from cryptocurrency trading until the new laws come into effect. Opprosition politicians have accused FSS staff of insider trading.

Japanese Economist: “Cryptocurrencies Likely to Become Legal Tender”
Leading Japanese economist and scholar Katsuhito Iwai says he believes the chances of cryptocurrencies becoming legal tender have significantly improved since the dawn of bitcoin. Katsuhito is a professor at the International Christian University and emeritus professor at the University of Tokyo, and told Asahi Shimbun, “The possibility of cryptocurrencies becoming legally recognized is no longer remote.”

MS Japan to Launch Blockchain Fintech Products
Microsoft Japan is set to launch financial transaction system products based on blockchain technology, claiming blockchain “can significantly reduce the cost of financial transactions such as international remittances.”

Chinese Blockchain Company Makes Hong Kong Hotel Bid
Chinese blockchain company Sharing Economy has moved to buy a five-star hotel in Hong Kong. The hotel in question, the Mira Moon, once served as a temporary home to Edward Snowden, who stayed there during his Hong Kong hideout in 2013.