Philippine Digest: SEC to draft ICO rules; RCBC eyes $291m rights offer

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The Philippine Securities and Exchange Commission said it is drafting the guidelines for initial coin offerings in the country instead of totally banning the fund-raising activity.

PSE ICO RCBC

Alibaba to help Kuala Lumpur reduce traffic woes in first foreign project

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Alibaba Cloud plans to make live traffic predictions and recommendations by crunching data gathered from video footage, traffic bureaus, public transportation systems and mapping apps.


Philippines: Cirtek acquires 49% in payment solutions firm Multipay

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Cirtek paid $1.96 million to acquire 441,000 shares or equivalent to 49% of the total issued and outstanding capital stock of Multipay.


Alibaba backs Israeli startup Nexar’s $30m funding round

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Nexar has developed an app that analyzes the situation on the roads in order to warn drivers of hazards in real time.


More than 10% of $3.7b raised in ICOs has been stolen: Ernst & Young

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Phishing was the most widely used hacking technique for ICOs, with hackers stealing up to $1.5 million in ICO proceeds per month.


China’s Tencent, Google agree to share patents in global tech alliance

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The agreement may smooth the U.S. company’s business in China while helping Tencent’s push to expand beyond its dominant position on the mainland.


Singapore: MAS chief hopes cryptocurrency tech will survive “crash”

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Singapore is carrying out extensive research into the distributed ledger technology that underlies bitcoin.


Indonesia’s central bank issues fresh warning over cryptocurrencies

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Last month, Bank Indonesia issued a regulation banning the use of cryptocurrencies by fintech companies involved in payment systems and said it is examining whether there’s a need to regulate trading on virtual currency exchanges.


India’s Reliance Jio planning its own cryptocurrency JioCoin

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With Mukesh Ambani’s elder son Akash Ambani leading the JioCoin project, Reliance Jio plans to build a 50-member team of young professionals to work on blockchain technology.


Crowdfunding platform OurCrowd raising $100m fund for AI, deep learning

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OurCrowd’s model tries to widen the population of startup investors by allowing accredited financiers to put down as little as $50,000 in its funds — a lot less than what would typically be required to become a partner in an investment vehicle.