Morning News: Huawei’s Sirin Deal?, S Korean Gov’t to Regulate Crypto

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Tim Alper

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Tim Alper

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Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...

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June 26, 2023 06:53 EDT

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Report: Huawei Strikes Deal with Blockchain Phone Maker Sirin S Korean Minister: “Gov’t Will Regulate Crypto” Blockchain Property Trader Plans Expansion to Arizona and Colorado S Korean P2P Loan Developer Strikes Blockchain Deal

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.

Report: Huawei Strikes Deal with Blockchain Phone Maker Sirin
Photos have emerged suggesting Chinese mobile giant Huawei has teamed up with Sirin Labs, the company who last year unveiled the world’s first blockchain mobile phone. A Chinese social media poster, claiming to be an industry insider, claims that the pictures were taken at Sirin’s base in Tel-Aviv, Israel. Indeed, the pictures clearly show senior Huawei staff posing with senior Sirin personnel, such as Co-CEO Zvika Landau and chief marketing officer Nimrod May. The poster claims the two companies signed a deal that will allow Huawei devices to incorporate Sirin technology, thus allowing Sirin to make its entry in the Asian mobile market.
Sirin posted one of the same pictures on its official Twitter account earlier this month, with the caption: “Still excited about our meeting yesterday with Huawei about possible collaboration. Can’t wait until we can tell you all about it.” Sirin and Huawei held what the former described as “an amazing meeting” at last month’s MWC in Barcelona.
Huawei has shown great enthusiasm for blockchain technology in the recent months – and this week also unveiled a new tool that it says can stress-test the performance of major blockchain platforms.

S Korean Finance Minister: “Gov’t Will Regulate Crypto”
South Korea’s Finance Minister Kim Dong-yeon has reiterated that regulation remains firmly on the government’s agenda, despite a recent softening of its stance towards bitcoin and altcoin trading. Kim told TBS Radio, “The cryptocurrency market seems to be stabilizing on its own. […] But cryptocurrencies are subject to market manipulation and illegal activities and require some regulation. Discussions with ministries are ongoing, as we look for a sound, safe system to work with.” Kim will be representing South Korea at the upcoming G20 Finance Ministers summit in Argentina, but refused to comment on what international regulations – if any – South Korea would be pushing for in Buenos Aires.

Blockchain Property Trader Says “Arizona and Colorado Are Next” After Vermont House Sale
Real estate venture Propy has hinted it will begin trading properties throughout the United States on its blockchain platform. The news comes after the company successfully sold a property on its Ethereum-based blockchain platform in Vermont. The sale was a major coup for the company, which is currently running a pilot land registry scheme with the Vermont city of South Burlington. Per media outlet Digital Journal, a Propy spokesperson stated, “This first deal makes it much easier for the rest of the 49 states to iterate the process. In fact, Arizona and Colorado are next.”

S Korean P2P Loan Developer Strikes Blockchain Deal
South Korean investment and peer-to-peer (P2P) loan specialist Korea Funding has signed a memorandum of understanding with GenerCrypto. The agreement will see the companies develop smart contract technology for initial coin offering investors and blockchain-powered P2P loan guarantees. The move is potentially significant – as it marks the first time a South Korean blockchain startup has joined forces with an established P2P loan development enterprise. Kim Hae-dong, Korea Funding’s CEO, stated that the companies will aim to build a “unified” platform secured by “unlisted stocks.”