Asia crushes cryptocurrency trading volumes even though the UK has the most exchanges
It appears that Asian countries are absolutely dominating the charts for cryptocurrency trading volumes – despite the recent string of regulatory clampdowns. Research from banking giant Morgan Stanley indicates that exchanges originating from countries like China, South Korea, and Hong Kong account for the trading volume globally. The research also showed that while the UK has the highest number of cryptocurrency exchanges registered with it, it only accounts for one percent of the total trading volume. The nearest competitors Hong Kong, the US, and Singapore are far behind the UK in terms of the number of cryptocurrency exchanges they host.… This story continues at The Next Web
KUALA LUMPUR: Malaysia’s target to achieve high-income nation status by 2020, as set by the previous administration, has been pushed back by at least four years as the new government resets its growth priorities.
KUALA LUMPUR (Oct 18): The government expects the budget deficit for 2019 to rise to 3% due to the large amount of debt inherited from the previous government which needs to be paid, said Prime Minister Tun Dr Mahathir.
Speaking to reporters after tabling the Mid-term Review of the 11th Malaysia Plan in Parliament, Dr Mahathir said if nothing is done about the debt, the country will get a more negative rating from credit rating agencies.
The latest episode of the Forbes Asia Investment Briefing comes from Yifan Hu, who is UBS Wealth Management's regional CIO and chief China economist. She tells us what's caught her eye this week, and what she'll be watching for in future.