Asia tech news roundup – Dec 28

Photo credit: andreha / 123RF Stock Photo

In case you missed it, here’s the latest tech news from across Asia.

Cryptocurrency

South Korea to further regulate cryptocurrency trading (South Korea). The nation’s government plans to impose additional measures, including the possible closure of some exchanges, to control speculation in cryptocurrency trading. It claims that prices of most virtual currencies are much higher on South Korean exchanges than they are on exchanges in other countries. South Korea had previously announced a plan to tax capital gains from crypto coins. (Reuters)

Mobile

Huawei’s China smartphone sales chief detained (China). The world’s third-largest smartphone maker said the China sales head of its consumer business division was detained by police for “the suspected crime of accepting bribes as a non-state functionary.” Huawei has moved past the likes of Xiaomi, Samsung, and Apple to become China’s top smartphone seller in recent years. (Reuters)

Prosecutors seek to extend jail for Samsung heir Lee (South Korea). South Korean prosecutors have sought a 12-year jail term for Samsung vice chairman Jay Y. Lee, who had been convicted of bribing Park Geun-hye, the country’s former president. The demand was made before the Seoul High Court, which is hearing an appeal by Lee against a five-year jail term handed down by a lower court last August. The lower court had ruled that the bribe helped Lee strengthen his control over one of the world’s top tech firms. (Reuters)

WeChat rolls out ‘instant games’ (China). China’s most-used app wants to make itself even more ubiquitous by allowing people to find and play games inside it. It has rolled out mini games, which work only within WeChat and don’t require downloading or installing. (Tech in Asia)

Video streaming

Google’s makes first big investment in game streaming (China). The US tech giant has injected US$77 million into China’s Chushou TV, which specializes in live mobile game streaming. This marks Google’s first major investment in this space after it missed out on the acquisition of massively popular Twitch, which is now owned by Amazon. (Technode)

Finance

Qbao CEO surrenders to police (China). Zhang Xiaolei has turned himself in to Chinese police as the government probes his company’s alleged illegal fundraising activities. This follows investor complaints against the internet finance platform. Qbao users can register as members of the website after paying US$15,250 and get money back by watching advertisements, competing questionnaires, and carrying out other similar tasks online. Qbao also functions as an ecommerce site where businesses can open online stores by paying a deposit. In August, some members complained they were unable to withdraw their money through the site and that the company’s Shanghai headquarters had been closed. (Technode)