Gsbt

Cryptocurrency  The chairman of Korea’s Fair Trade Commission – the economic competition regulator – has blasted efforts to shutter cryptocurrency exchanges before calling on the government to regulate the industry instead. In a radio interview yesterday, FTC chairman Kim Sang-Joo plainly opined it is “not realistically possible” to shut down cryptocurrency exchanges, adding that the law does not permit authorities like the justice ministry to close cryptocurrency exchanges. In quotes reported by JoongAng, Korea’s largest media network, Kim said of the proposed ban in translated statements by  CCN : “[Shutting down cryptocurrency exchanges] is not realistically possible. Based on electronic commerce law, the government does not have the authority to close down cryptocurrency trading platforms.” The official was offering his take on the recent controversial statements by the country’s justice minister Park Sang-ki. In a press briefing a week ago, the lat

Prominent venture capitalist and prolific tech and bitcoin industry investor Tim Draper is making a return to the Indian market for early stage investing in startups in one of the world’s fastest growing economies. The investment into India’s blossoming technology sector, despite common consensus of it being overvalued to the point of being a ‘ tech bubble’ , will occur through Mumbai-based Blume Ventures, an early-stage venture firm that now joins Draper’s DVN (Draper Venture Network) as a member, according to  TechCrunch . Having existed since the early Silicon Valley boom era during the 90s, the DVN has backed over 600 startups over two decades, cashing out on a third of its portfolio that sees companies of the likes of Skype, Baidu and Twitch. The Draper Venture Network, formerly known as DFJ Innovation, has invested in bitcoin startups around the world and previously had a presence in India after setting up shop in 2007. However, the local branch was shut down