Infinite Block Receives Certification for Information Security Management System of Blockchain…

Blockchain and fintech company Dunamu has decided to release videos and presentations from the Upbit D Conference (UDC) 2023 — one of the biggest blockchain events in the country this year — for free on the official UDC YouTube channel, as stated in an official press release on Tuesday (KST). According to the company, it aims to support and revitalize the blockchain industry by making the content publicly available, although the offline event had an admission fee.Photo by Andrei Stratu on UnsplashExpert insightsNow in its sixth year, UDC has evolved into a comprehensive conference covering not only technology, but policies, finance and culture as well. Touting the slogan “All That Blockchain,” this year’s event brought together 39 local and international experts to present an in-depth vision of the trajectory of the blockchain industry. The conference featured a series of sessions led by key industry figures such as Matt Sorg, Head of Technology at the Solana Foundation; Roger Ver, founder of Bitcoin.com; and Oh Se-hyeon, Executive Vice President of SK Telecom, who spoke on various topics like AI, blockchain and Web3. Active online participationThis year’s UDC was also the first to be held both on and offline in a hybrid format to expand access for a bigger audience. The offline event was held at the Grand Walkerhill Seoul hotel on Nov. 13 and was streamed via YouTube. It attracted a record number of online visitors, with more than 100,000 total views on the livestream and up to 10,000 viewers watching at once. The online sessions featured guests like Laura Shi, Head of International Expansion at Consensys, who explained the convenience of using digital asset wallets for managing digital asset transactions. In addition, Pacman Blur, Core Contributor at Blur, touched on the future of NFTs and their role in Web3 ecosystems. A summary of the conference’s events and discussions can be found in the UDC 2023 Report, which is available in both Korean, English and Chinese on the UDC website. “We hope that content from UDC 2023 will bring knowledge and vision of blockchain to more people,” the company said.UDC has become increasingly popular since its inception, with more than 23,100 attendees participating over the last six years. All of the videos from this year’s conference have racked up a cumulative view count of 1.28 million as of November.

India has once again emerged as the global leader in cryptocurrency adoption for the second consecutive year, according to the latest Chainalysis Global Crypto Adoption Index for 2024. Despite strict regulations, including high taxes and restrictions on foreign exchanges, India continues to see widespread participation in digital assets, showcasing resilience in the country’s growing cryptocurrency ecosystem.Photo by Jovyn Chamb on UnsplashIndia leads in crypto adoptionIndia ranked first out of 151 countries in the 2024 Chainalysis report, maintaining its top position from 2023. Indian investors have continued engaging with both centralized and decentralized finance (DeFi) platforms despite regulatory challenges such as the 30% capital gains tax and a 1% tax deducted at source (TDS) on crypto transactions. This activity highlights the country's strong interest in digital assets. India received $143 billion in crypto inflows from July 2023 to June 2024, placing second in the Central and Southern Asia and Oceania (CSAO) region behind Indonesia, which received $157 billion. CSAO as a whole accounted for $750 billion in crypto assets over the same period, making up 16.6% of global crypto activity. Offshore exchange restrictions and workaroundsIn December 2023, India’s Financial Intelligence Unit (FIU) issued show-cause notices to nine offshore cryptocurrency exchanges, including Binance, Kraken and KuCoin, for non-compliance with anti-money laundering laws. The FIU also blocked access to these platforms for Indian users. However, many investors found ways to bypass these restrictions, continuing to access these exchanges via pre-downloaded apps. Despite these regulatory hurdles, Binance and KuCoin have since re-entered the Indian market after paying fines and complying with local laws. Binance settled a $2.25 million fine in June 2024, while KuCoin resolved a $41,000 penalty in March 2024. Indonesia’s rapid growth in cryptoIndonesia on the other hand has emerged as the fastest-growing crypto market in the CSAO region, climbing four places to third in the global rankings. The country experienced a nearly 200% year-over-year increase in crypto activity, driven primarily by retail investors seeking alternative investments such as meme coins. Indonesia received $157.1 billion in crypto inflows during the 12-month period, reflecting strong engagement with decentralized finance services. Broader regional trendsSeven of the top 20 countries in Chainalysis’ adoption index come from the CSAO region, including Vietnam, the Philippines and Pakistan. This growth is fueled by investment opportunities and an embrace of digital assets as new financial tools. Countries with lower purchasing power tend to have higher adoption rates, with retail-sized transactions making up a significant portion of activity.India’s resilient crypto marketDespite regulatory challenges, India’s crypto market continues to thrive. The government's strict policies have done little to dampen enthusiasm for digital assets. Chainalysis found that investors remained committed to crypto, even as the country enforces strict tax policies. India’s high adoption rate reflects strong demand and adaptability in the market. Future outlook for India’s crypto ecosystemIndia’s leadership in crypto adoption is expected to continue. The FIU is reviewing applications from more foreign exchanges, with at least two expected to be approved by the end of 2025. As the regulatory landscape evolves, clearer guidelines could encourage further growth and innovation in the digital asset space.

The blockchain network underpinning Bitcoin, the world’s largest cryptocurrency, requires an energy volume comparable to the annual consumption of Thailand. According to Digiconomist’s Bitcoin Energy Consumption Index, the protocol utilized roughly 204.44 terawatt-hours (TWh) of electricity between Nov. 18, 2024, and Nov. 18, 2025.Photo by Fré Sonneveld on UnsplashFiscal losses drive Malaysian oversightAmid these intense energy demands, Malaysia’s primary electricity utility has recorded substantial financial impairments attributed to illicit activities. Tenaga Nasional Bhd (TNB) reported losses totaling 4.57 billion ringgit ($1.1 billion) from illegal crypto-mining operations over a five-year span. In a Nov. 19 report by The Edge Malaysia, the Ministry of Energy Transition and Water Transformation (Petra) disclosed these figures to parliament, specifying that the unauthorized mining occurred at 13,827 locations between 2020 and August of this year. To counter these infractions through regulatory channels, Petra has formed a special committee scheduled to convene before year-end. This body aims to recommend enhancements to the Electricity Supply Act, which currently delineates penalties based on the offender's classification. Domestic violators face fines ranging from 1,000 to 50,000 ringgit ($240 to $12,000), imprisonment of up to one year, or both. Penalties escalate for non-domestic entities, involving fines between 20,000 and one million ringgit ($480 to $240,000) and potential prison terms of up to five years. Despite these provisions regarding electricity theft, a specific legal code regulating the act of crypto mining remains absent, creating a jurisdictional void. International bans and grid reallocationStrategies to curtail electricity usage by crypto miners are becoming evident elsewhere in Southeast Asia as well. Laotian Deputy Energy Minister Chanthaboun Soukaloun told Reuters last month that the nation intends to suspend electricity supplies to crypto miners by early 2026. He cited the sector's minimal economic contribution and low job creation as primary factors. Consequently, the state plans to redirect power to high-priority sectors, including AI data centers, metals processing, and electric-vehicle manufacturing. Parallel restrictions are emerging globally. In October, the government of British Columbia enacted a permanent prohibition on new BC Hydro connections for crypto miners to safeguard the Canadian province’s energy reserves. Officials pointed to the industry’s "disproportionate energy consumption and limited economic benefit" as the rationale for the policy. The debate over thermal innovationConversely, some enterprises are exploring methods to capture thermal output from Bitcoin mining to heat residential and commercial properties. If viable, such repurposing could utilize the considerable thermal byproducts of mining. A K33 Research study cited by CNBC indicates the industry generates roughly 100 TWh of heat annually, a figure sufficient to warm the entirety of Finland. However, industry consensus on the feasibility of these applications remains elusive. Proponents suggest that mining infrastructure could be situated in proximity to heat consumers. Skeptics, however, contend that the reliance on application-specific integrated circuit (ASIC) chips makes this impractical, arguing that the technical difficulty of mining a block renders household participation unfeasible. Despite these differing views, the concept continues to attract attention as a potential avenue for innovation in energy distribution. As jurisdictions like Malaysia and British Columbia tighten regulatory oversight, the cryptocurrency sector faces mounting pressure to address its energy footprint. The divergence between government restrictions and industry-led efficiency proposals underscores the complex relationship between digital asset infrastructure and global energy resources. Given the shifting landscape of policy and technology, the outlook for sustainable large-scale crypto mining remains uncertain, as governments weigh energy demands against economic benefits and the industry searches for more efficient ways to operate.