US Firm Plans $100 Million ICO to Fund Electric Vehicle Production in Africa

Alternet Systems Inc (ALYI), an energy storage, military application, and electric motorcycle firm, has entered into a new partnership to launch a cryptocurrency dedicated to funding electric vehicle projects in Sub-Saharan Africa, according to a March 11 announcement.

While Alternet did not name the company it has partnered with, Alternet Systems revealed that the cryptocurrency has successfully been minted on the Ethereum blockchain.

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Japan Uneased by Chinese CBDC, Plans on Digital Yen in ‘2 to 3’ Years

China continues to pull ahead in the central bank digital currency race as more details on its secretive digital yuan project intermittently surface. As a result, more countries are beginning to worry about the potential implications.

Over the past few weeks, a number of Japanese lawmakers have publicly expressed their preference for a CBDC controlled by the Bank of Japan.

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Swiss-Regulated Digital Asset Bank Plans $95M Capital Raise

Seba, a young Swiss-based digital asset bank holding regulatory licensing, looks to attempt a secondary capital raise to garner over $95 million in additional funds.

During the raise, Seba aims to secure 100 million Swiss francs, equivalent to $96.5 million, “from new investors, including financial institutions, family offices and individuals,” Financial News London wrote in a Jan.

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SBI Plans Derivatives Platform, Huobi Eyes 30% Korean Market, Thai Four-Crypto ATM Unveiled

SBI Plans Derivatives Platform, Huobi Eyes 30% Korean Market, Thai Four-Crypto ATM Unveiled

Exchanges

Japan’s SBI Group is reportedly planning to create a crypto derivatives platform. In South Korea, Huobi is taking an aggressive approach and expects to achieve a 30% crypto market share. Meanwhile, a Thai crypto exchange has unveiled an ATM that supports four cryptocurrencies.

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South Korea Plans to End Major Tax Benefits for Bitcoin Exchanges

South Korea Plans to End Major Tax Benefits for Bitcoin Exchanges

Taxes

The South Korean government has announced a new set of tax law amendments. Under this proposal, bitcoin exchanges will no longer be eligible for income and corporate tax deductions currently enjoyed by small and medium-sized businesses. The regulators have also been considering imposing capital gains tax on the sale of cryptocurrencies.

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Bitmain Plans Overseas IPO, Earned $1 Billion in Net Profit in Q1, Sources Report

Jihan Wu, the co-CEO of crypto mining hardware giant Bitmain, is reportedly planning to conduct an overseas initial private offering (IPO), Fortune’s crypto-focused section The Ledger reports July 30.

Bloomberg had reported in June that Wu was “open” to holding an IPO in a market with U.S. dollar denominated shares — like Hong Kong — as it would allow early backers to cash in funds.

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Binance Plans to Expand Into South Korea

Cryptocurrency exchange Binance is making plans to expand operations into South Korea, reports Business Korea.

Per the report, Binance CEO Changpeng Zhao hinted at his company’s expansion plans while speaking at the Blockchain Partners Summit in Seoul last weekend.

While South Korea is presumed to be the third-largest crypto market after the U.S.

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