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Morning News: MailChimp Issues Crypto Ban, Yahoo Crypto Move Still On

Tim Alper
Last updated: | 3 min read

MailChimp Issuing Crypto Ban? Yahoo Japan Hints it May Yet Buy an Exchange BitFlyer Strikes Deal with Mobile Bank Dip in Brand Ratings for S Korean Exchanges

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.

MailChimp Issuing Ban on Cryptocurrency – and ICO-related Accounts?
A number of media outlets, blockchain experts and cryptocurrency firms have claimed that MailChimp, a popular emailing service that automates email campaigns is set to block marketing efforts for ICOs and cryptocurrencies from April. A number of users have taken to Twitter and Reddit to complain they have received emails from MailChimp, who, per these users, say blockchain and cryptocurrency-related accounts may be closed. MailChimp responded to a tweet from Full Tilt Capital managing partner Anthony Pompliano, saying, “Cryptocurrency-related information isn’t necessarily prohibited. It can be sent as long as the sender isn’t involved in the production, sale, exchange, storage, or marketing of cryptocurrencies.” MailChimp also updated its user policy on March 29, inserting a similarly worded clause about cryptocurrencies and ICOs.

Yahoo Japan Hints it May Yet Buy a Cryptocurrency Exchange
Yahoo Japan’s CEO Kentaro Kawabe says tightening scrutiny from the country’s financial regulator has forced his company to seek acquisition as a way to enter the cryptocurrency exchange market. Yahoo Japan is hoping to launch its own exchange platform, and has reportedly submitted an application with the regulatory Financial Services Agency (FSA). However, the FSA has recently toughened its stance on security and customer refund policies, and faces a backlog of applications, meaning Yahoo’s new exchange might not be operational until 2019. Last week, Japanese media reports claimed Yahoo’s foreign exchange subsidiary was set to buy a 40% stake in existing platform BitARG, with the latter refuting the claim. But, speaking to Sankei Biz, Kawabe seemed to indicate an acquisition deal with an FSA-registered exchange remained on the cards. He said, “Our foreign exchange customers are now demanding cryptocurrency trading. The FSA says its review process for new exchange license applications has become stricter. It will be very difficult for us to offer cryptocurrency services if we do not acquire an existing exchange.”

BitFlyer Strikes Deal with Mobile Bank for ‘24/7’ Yen-Crypto, Crypto-Yen Transfers
Exchange platform BitFlyer has announced it has struck a deal with mobile finance firm Jibun Bank, which it says will allow customers to make real-time deposits and withdrawals between BitFlyer wallets and Jibun Bank accounts. BitFlyer said, in a statement, that the service will allow immediate transactions even outside normal banking hours with “24-hour, 365-day” operating hours. Jibun, a joint venture launched by financial giant Bank of Tokyo-Mitsubishi UFJ Group and mobile operator KDDI, does not have physical branches, and instead conducts business with customers via mobile apps, the internet and telephone.

Analysis Reveals Dip in Brand Ratings for S Korean Exchanges
Big data analysis from the Korea Research Center (KRC) has placed Bithumb at the top of the center’s Cryptocurrency Exchange Brand Rankings. The exchange was followed by Upbit in second place, with Coinone taking third spot. The KRC said its rankings were based on analyzing participation figures, examining media data, communication statistics and online community data. Bithumb has reclaimed the top spot from Upbit, who claimed the No 1 spot in February’s rankings. The KRC says March was a bad month for all of South Korea’s exchange platforms, and that Bithumb (whose ratings actually fell by 19% in March) was only able to regain its spot at the top thanks to a fall of nearly 40% in Upbit’s ranking score.