Today in Crypto: Binance Japan to Offer 3x More Coins, HashKey Partners with imToken

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
__________

Exchange news

• Binance Japan said that it aims to offer at least 100 tokens on its platform in the short term, which is about three times the current offering, according to Bloomberg. It currently lists 34 tokens.
• Asia-based crypto exchange HashKey partnered with crypto wallet provider imToken “to merge the “trusted” and “trustless” elements of the Web2 and Web3 realms within the virtual asset landscape,” the press release said. imToken will be appointed as the official non-custodial wallet partner for HashKey Exchange, catering to users who seek self-managed digital assets, it said and added: “As one of the first recipients of the virtual asset license from the Hong Kong SFC, HashKey Exchange will offer imToken users a trusted platform to trade virtual assets where direct bank transfers for fiat on and off ramp are supported.”
• Nigerian crypto exchange Patricia released a white paper “designed to offer our users a clear understanding of Patricia Token,” which was looked at with some suspicion upon its recent release. According to the white paper, Patricia Token is not a stablecoin, but “a debt management token,” which “symbolizes a promise” by Patricia Technologies to pay holders USDT 1 for each Patricia Token in the future, “thereby ensuring asset recovery and addressing the impact of the security breach.” The Token is not on-chain, it added. Instead, it is an internal token used to represent debt, managed by Patricia, while the balance will mirror the dollar value of the converted assets.

Politics news

• South Korean parliamentary ethics subcommittee voted down a motion to expel former member of the main opposition Democratic Party (DP) Kim Nam-kuk, Yonhap reported. A majority of votes was needed for the motion to be passed, but the ruling People Power Party (PPP) and the DP were divided evenly over the motion in a 3-3 vote. Kim found himself in hot water after being accused of performing suspicious crypto trades worth about $4.5 million.

Banking news

• SEBA Hong Kong, the regional subsidiary of Switzerland-based crypto bank, SEBA Bank, received an approval-in-principle (AIP) from the Securities and Futures Commission (SFC). According to the press release, SEBA Hong Kong received the AIP for its license application to operate regulated activities in Hong Kong to deal in securities, including virtual assets-related products, such as OTC derivatives and structured products; advise on securities and virtual assets; and conduct asset management for discretionary accounts in both traditional securities and virtual assets.

Regulation news

• EOS was granted whitelist approval by the Japan Virtual and Crypto Asset Exchange Association (JVCEA). The EOS Network Foundation said that the authorization “paves the way for EOS to be traded against the Japanese yen on regulated cryptocurrency exchanges in Japan.” EOS will begin trading in mid-September on BitTrade, a cryptocurrency marketplace licensed and regulated by the country’s Financial Services Agency (FSA), it added.

Mining news

• Cathedra Bitcoin Inc. announced the results of its operations for the second quarter 2023, reporting that: the mining operations produced 77.15 gross bitcoin during Q2 2023, compared to 57.65 bitcoin during Q2 2022, an increase of 19.50 bitcoin; it recorded revenue of C$2.9m ($2.14m) during Q2 2023 compared to C$2.5m ($1.85m) during Q2 2022; as of August 29 this year, it held C$3.7m (2.73m) of cash and C$744,300 ($549,130) of bitcoin (19.55 BTC) for total cash and bitcoin liquidity of approximately C$4.4m ($3.25m).