Search results: cryptocurrency

Amid growing concerns around algorithm biases and their societal impact, India Prime Minister Modi calls for international consensus on ethical AI and crypto governance at the B20 summit. 

Cryptocurrency issuers in Japan are now exempt from paying a 30% corporate tax on unrealized gains on tokens.

Ghassan Jumblat, fintech director at financial services company Integrated Communications Channel discusses the evolution of the cryptocurrency and blockchain industry in Dubai in the United Arab Emirates, as the city positions itself as a future hub for digital assets.

In a new report, U.K. lawmakers suggest treating Bitcoin and Ether like gambling due to significant consumer financial risks.

The three-day NexTech Week trade show kicked off Wednesday in Tokyo, celebrating all things technology, including blockchain and Artificial Intelligence.

India is not against the blockchain technology, but currencies have to be monitored by either the government or the central bank, Finance Minister Nirmala Sitharaman said on Saturday. 

South Korea’s legislation on how to regulate digital assets passed the first phase of review in the country’s National Assembly on Tuesday.

UAE’s Securities and Commodities Authority said Monday it has started accepting applications for operating licenses from cryptocurrency businesses.

Seattle-based crypto exchange Bittrex Inc. has rejected charges by the U.S. Securities and Exchange Commission (SEC) that it and co-founder Bill Shihara operated an unregistered national securities exchange, broker and clearing agency. The SEC filed the charges on Monday. See related article: U.S.-based cryptocurrency exchange Bittrex lays off 83 employees Fast facts See related article: U.S. SEC […]

The SEC has charged the Beaxy crypto trading platform and its executives for operating as an unregistered exchange, broker, and clearing agency.

Seychelles-based cryptocurrency exchange OKX said it will apply for virtual asset licenses to operate digital asset services in Hong Kong.

The Group of Seven industrial countries will discuss tougher rules on cryptocurrencies to improve transparency, protect investors.

Robinhood says it’s cooperating with an SEC investigation into the company’s trading and handling of cryptocurrencies.

The Blockchain Association Chief Policy Officer Jake Chervinsky said the U.S. Congress will ultimately set the laws in the country to govern the cryptocurrency industry and not the Securities and Exchange Commission

Seattle-based cryptocurrency exchange Bittrex is laying off 83 employees, according to the U.S. Employment Security Department’s layoff alert.

The U.S. House of Representatives has created a new congressional subcommittee focused on digital assets, as one of its first moves under the control of the Republican Party.

Coinbase, the world’s second largest cryptocurrency exchange by trade volume, is cutting jobs and closing down most of its operations in Japan.

The U.S. Federal Reserve, FDIC and the OCC have issued a joint statement to warn banks of the risks with crypto assets.

Japan’s ruling party approved a proposal that exempts companies issuing crypto from taxes on unrealized gains on retained tokens.

Interpol fugitive Kwon Do-hyung flew to the Republic of Serbia last month, South Korean prosecutors told Forkast, confirming local media reports.

Wemade Co. Ltd. said its in talks to have Binance Institutional Services take custody of its native cryptocurrency, WEMIX.

Crypto lender BlockFi Inc. and eight of its affiliates have filed for Chapter 11 bankruptcy reorganization in the U.S.

Cryptocurrencies are getting in the way of the mass adoption of blockchain technology, especially by tech businesses, says Red Date Technology chief Yifan He.

The country is one of the first to say it will act to set up regulations to prevent a collapse similar to FTX, which filed for bankruptcy protection and froze the assets of hundreds of thousands of investors.

Bitcoin also received additional entries to the annual list, now a record holder for the “oldest cryptocurrency,” the “most valuable cryptocurrency” and the “first blockchain.”

Tornado Cash, the Ethereum coin mixer slapped with sanctions by the U.S. Treasury back in August, has returned to the software hosting website GitHub amid a flurry of lawsuits against the Treasury for its action.

In the first of a two-part report on this year’s cryptocurrency gathering in Singapore, defiance outshone defeatism despite industry’s struggles.

Cryptocurrency lobby group Chamber of Digital Commerce (CDC) has received approval from a U.S. federal court to be an amicus curiae (Latin for friend of court) in the lawsuit that the U.S. Securities and Exchange Commission (SEC) filed in 2020 against Ripple Labs. See related article: Ripple objects to SEC’s relief suggestion in XRP lawsuit […]

Crypto exchanges in India say the number of female investors isn’t huge, but it is growing even as prices slide and new taxes eat into revenue.

Cryptocurrency advocacy group Chamber of Digital Commerce (CDC) has sought to be an amicus curiae (Latin for friend of court) in the lawsuit between the Securities and Exchange Commission and Ripple Labs. See related article: Ripple opposes SEC request to seal expert witness identities in XRP lawsuit Fast facts CDC Wednesday filed several documents in […]

Cryptocurrency-related insurance is a vast untapped market, with less than 1% of crypto investments covered amid hacks and losses in the industry running into the billions of dollars, Cointelegraph reported, citing an executive from decentralized insurance protocol InsurAce. See related article: DeFi insurance: Why buy coverage for your digital assets? Fast facts Dan Thomson, the […]

The western Argentine province of Mendoza — the fifth most populous in the country — now accepts cryptocurrency as a payment option for taxes, the Mendoza Tax Administration (ATM) announced on Saturday. See related article: El Salvador’s Bitcoin adoption, one week on Fast facts Mendoza’s roughly 2 million residents will now be able to pay […]

Report by Chainalysis says both use cases fell in dollar terms in first half of year and while legitimate usage by value far exceeds criminal, illicit activities fell by a much narrower margin.The report attempts to explain why.

Hong Kong-based cryptocurrency exchange OSL is reportedly laying off 40 to 60 employees, or about 15% of its workforce, to join a growing list of digital asset companies in scaling down operations amid tanking cryptocurrency prices. See related article: Coinbase, biggest US crypto exchange, cuts workforce by 18% Fast facts The job cuts are not […]

Cryptocurrencies were listed for the first time as a means to launder and transfer money related to the drug trade by the China Ministry of Public Security on Thursday. See related article: China explores ways to classify cryptocurrency crimes Fast facts See related article: The SEC is building a SWAT team to combat crypto crime

European Central Bank (ECB) President Christine Lagarde said cryptocurrencies are “worth nothing” on a Dutch television program aired Sunday, calling for greater regulation over what she described as “highly speculative assets.” See related article: EU to introduce bill next year to plan a digital euro Fast facts “My very humble assessment is that [cryptocurrency] is […]

The Australian Taxation Office (ATO) warned the country’s cryptocurrency investors to appropriately report any capital gains or losses from digital assets — including non-fungible tokens (NFTs) — in an announcement on Sunday ahead of the upcoming tax season, starting July 1. See related article: Australian Tax Office warns: taxpayers on the hook for crypto tax […]

Pakistan’s federal government has formed three subcommittees to explore the future of cryptocurrencies and related services, local media report.  See related article: Pakistani central bank echoes RBI’s concerns over crypto Fast facts The first panel is chaired by the law secretary with the State Bank of Pakistan (SBP), with the Federal Investigation Agency (FIA) and […]

A month after South Korea adopted the Financial Action Task Force’s (FATF) travel rule, two solution providers VerifyVASP and CODE have linked their services on Monday to allow seamless access to exchanges for investors. See related article: DeFi, NFT access at stake as FATF travel rule takes effect in South Korea Fast facts The FATF […]

South Korean megacorporation SK Group’s information technology-investment arm, SK Square, is preparing to launch a cryptocurrency this year to build a blockchain-based virtual economy that would link its group of information and communications technology (ICT) businesses. See related article: South Korea wants to be the physical home of the metaverse Fast facts SK Square established […]

Meta, formerly Facebook, has filed eight trademark applications with the United States Patent and Trademark Office (USPTO) relating to blockchain, crypto and the social media giant’s metaverse push. See related article: Meta showcases focus on AI, announces new voice assistant program Fast facts One of these applications includes a trademark for cryptocurrency services including exchange […]

Ukrainian President Volodymyr Zelenskyy has signed a virtual assets bill into law to legalize cryptocurrencies in a country that is receiving millions in crypto donations for military and humanitarian aid in its war against Russia. See related article: Ukraine crypto donations top $36M amid Russian invasion Fast facts The law determines the legal status for […]

War-mongering Russia is finding itself increasingly isolated. Can cryptocurrency help the rogue state soften the blow of sanctions?

Ransomware payments in crypto tallied higher than US$602 million in 2021, according to blockchain forensics firm Chainalysis, with average payments recording US$118,000, or 34% higher than the 2020 average.  Fast facts

South Korean game developer Netmarble announced its crypto and play-to-earn (P2E) strategies at a press conference on Thursday, including plans to issue its own cryptocurrency. Fast facts Netmarble CEO Kwon Young-sik said the company is preparing to issue and list a crypto token that would act as a key currency for Netmarble games. Netmarble has […]

Thailand’s financial authorities have unveiled a plan to issue regulations that would “limit the widespread adoption of digital assets as a means of payment for goods and services” in a bid to protect the country of 70 million people. Fast facts Thailand’s Securities and Exchange Commission (SEC), Ministry of Finance (MOF) and The Bank of […]

If you’re intrigued about Bitcoin’s price history or Ethereum’s all-time highs, you might be wondering if you’re missing out on financial gains. To explore how to get started in investing in cryptocurrency, Forkast has created a quick explainer video on what to do and the options. What you’ll learn: What are the two types of […]

While increasing crypto adoption was predictable, 2021 also saw much that was unexpected. Here are the events that shocked even crypto natives.

Macroeconomic factors and a spate of bad news override bullish outlook in crypto market as the year lurches toward its end.

South Korea reaches a tentative agreement to delay a pending tax on virtual assets. Crypto investors in next-door Japan already face taxation up to 55%.

Apple CEO Tim Cook has revealed that he owns cryptocurrency during a discussion yesterday at the New York Times’ Dealbook conference, responding to a question as to whether he owned either Bitcoin or Ethereum. Fast facts While he did not reveal which cryptocurrencies he held, the tech boss said in an interview with Andrew Ross […]

The price of Solana (SOL), the native cryptocurrency of the high-performance proof-of-stake Solana blockchain, hit a new all-time high US$245.69 this morning Asia time and briefly overtook Tether as the fourth-largest cryptocurrency by market value, according to CoinGecko data. Fast facts Solana’s price surge comes ahead of the inaugural Breakpoint conference organized by the Solana Foundation, which will […]

NYC Mayor-elect Eric Adams said he wanted to ‘look at what’s preventing the growth of Bitcoins and cryptocurrency in our city.’

Australians are now able to buy a house using cryptocurrency, as Lloyds Auctions Australia has announced it is accepting Bitcoin for purchases of real estate in online auctions, according to a press release shared with Forkast.News. Fast facts While Covid lockdowns impacted how in-person real estate auctions could take place in Australia, Lloyds began looking […]

Ukrainian President Volodymyr Zelenskyy returned a cryptocurrency bill to Parliament for revision on Tuesday, demanding the National Securities and Stock Market Commission of Ukraine be designated the country’s main crypto regulator. Fast facts The crypto bill had passed the second parliamentary hearing on September 8. Had Zelenskyy signed the bill, it would have made the country the fifth […]

Nirmala Sitharaman says ‘a futuristic thing can’t be shut out’ as the country considers crypto regulation, including a possible blanket ban.

African countries collectively received US$105.6 billion worth of cryptocurrency between July 2020 and June 2021, a year-on-year increase by more than 12 times, blockchain data platform Chainalysis said in a report. Fast facts The adoption rate of cryptocurrency in Africa at the grassroots level is the highest in the world. And retail transactions in Africa […]

Broctagon Fintech Group is launching what it hopes will become a new global standard for cryptocurrency exchanges to reduce price discrepancies. Will it work?

Nigeria, a country with one of the world’s highest cryptocurrency adoption rates, is moving ahead with its plan for a central bank digital currency pilot project called Project Giant. The Central Bank of Nigeria has selected Bitt Inc., a Barbados-based fintech startup, as its technical partner for the project, which is scheduled to launch on […]

The ruling by Shandong’s High Court backs up China’s official stance against trading in cryptocurrencies. What does this mean for investors?

As cryptocurrencies gain increasing adoption, the profile of crypto investors in Singapore — one of Asia’s biggest hubs for traditional finance as well as the emerging crypto industry — is broadening from younger investors to mature investors who see crypto as a viable long-term investment, according to the State of Crypto in Singapore report published today. […]

Gold and cryptocurrency have more in common than not, and savvy investors would do well to hold both, writes Sylvia Carrasco of Goldex.

The city of Miami is set to launch its own cryptocurrency, MiamiCoin, tomorrow. The token will allow people to invest in the city to fund infrastructure projects and events, according to a report by Decrypt. Fast facts The token is being released in partnership with CityCoin, a project that facilitates cities releasing their own tokens […]

Celsius Network CEO says crypto lenders are using Wall Street’s ‘safest’ business tactic to provide high interest rates to customers. What are the risks?

Retailers reluctant to accept currency they are said not to trust even as large finance sector players offer crypto products and beef up their holdings.

London police announced on Tuesday they have seized a record £294 million (US $408 million) in cryptocurrency in less than a month, as part of an ongoing investigation into money laundering. Fast facts According to London police, their recent £180-million (US＄248.8 million) seizure in cryptocurrency comes less than three weeks after a £114-million (US＄157.5 million) […]

A Shanghai procuratorate has held a seminar gathering judges, police, procurators and scholars to discuss how crimes related to cryptocurrency fit into China’s current legal framework. Fast facts The procuratorate said in a post on Monday that there had been confusion as to how to categorize cryptocurrencies. Some consider them data, while others regard them […]

A legislator from the ruling Democratic Party of Korea today announced a proposal to defer tax on virtual assets for one year, after which income derived from cryptocurrencies would be treated as financial investment income for tax purposes. Fast facts Noh Woong-rae proposed deferring the levying of tax on income from crypto transactions until January […]

Vietnamese Prime Minister Phạm Minh Chính has asked the country’s central bank to pilot a cryptocurrency program from 2021 to 2023, English-language newspaper Việt Nam News reports. Fast facts The plan was signed off in Prime Minister’s Decision No. 942/QĐ-TTg on the country’s broad development strategy of moving towards digital government. It also encompassed artificial […]

Crypto-related crime in the US increased an average of over 300% per year from 2017 to 2020with a total of 82,135 cases last year alone.

Global securities index MSCI plans to launch a cryptocurrency index, according to CEO Henry Fernandez.

The National Republican Congressional Committee in the US will begin accepting donations in cryptocurrency.