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man with VR goggles making hand gestures | Only 4% of South Korea use the metaverse, survey reveals

Only 4% of South Koreans use metaverses, survey reveals

Only 4.2% of South Korean citizens have said that they regularly use metaverse services, a recent survey results show.
anti-money laundering in global standards

Crypto’s aversion to anti-money laundering standards is only hurting itself

For crypto to grow for the long term, the industry must show greater respect for global standards that combat crime, writes Slava Demchuk of AMLBot.
Several golden cryptocurrencies highlighting the Dogecoin coin with graphics in blue color

Bitcoin, Ether rise; Dogecoin falls despite record high transaction volume

Top 10 non-stablecoin cryptos traded mixed, while investors continue to assess U.S. debt talks.
A shot of VeeCon

VeeCon: Rekindling the NFT Community’s Fire

VeeCon 2023 NFT conference inspires and strengthens the market with community focus and innovation. Gary Vaynerchuk’s keynote resonates with fans worldwide.
Hong Kong

Hong Kong? Singapore? Tokyo? Seoul? Dubai? The race is on for the Web3 hub of Asia | Part 2

While U.S. regulators continue debating over whether cryptocurrencies are securities or commodities, the digital assets industry is being pleasantly welcomed by several Asian cities. And the competition is really hotting up now.
Warsaw, Poland.

Bitget crypto exchange registers in Poland

Seychelles-headquartered cryptocurrency exchange Bitget announced on Tuesday that it successfully registered as a virtual asset service provider in Poland.
Binance logo

Binance allegedly commingled customer funds: Reuters

Binance, the world’s largest cryptocurrency exchange, has been accused of blending client funds with its own corporate revenue in violation of U.S. financial regulations, according to three unnamed sources cited by Reuters.
Wong Tai Sin Temple in Hong Kong

Hong Kong to open crypto to retail traders, plans guardrails

Hong Kong will allow licensed cryptocurrency trading platforms to offer services to retail investors and will implement a slew of measures to protect individual traders, the Securities and Futures Commission (SFC) said on Tuesday.
Ledger Nano S hardware wallet cold storage for cryptocurrency

Governments could access Ledger wallet private keys, says CEO

Cryptocurrency wallet Ledger’s new update allows governments to access users’ seed phrases via subpoena, said Pascal Gauthier, the chief executive officer of Ledger. 
Bitcoin golden coin and dollar background. Cryptocurrency

All top 10 cryptos rise; Hotbit crypto exchange shuts down; U.S. stock futures drop

Bitcoin gained 1.71% and Ether climbed 2.35%. Polygon gained the most in 24 hours followed by Tron.
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Philippines flag and Gemini logo | Philippines regulator warns against Gemini Derivatives for unregistered securities

Philippines regulator warns against Gemini Derivatives for unregistered securities

The Philippines Securities and Exchange Commission warned the public last week not to use crypto exchange Gemini’s derivatives platform.
dot com, crypto and AI

How many of today’s AI darlings will end up in the dot-com and crypto sewage?

For every PayPal or Google, countless other startups from the bubble days of yore took investor money down the toilet, writes Naveen Agnihotri. What makes this AI boom any different?
crypto btc

Bitcoin, Ether, top 10 cryptos rise; US futures climb

The top 10 non-stablecoin cryptocurrencies, including Bitcoin and Ether, were up across the board as U.S. Fed rate talks and debt negotiation outcomes remain unpredictable.
Tourist junk boat ferry with red sails and Hong Kong skyline cityscape downtown skyscrapers over Victoria Harbour in the evening. Hong Kong, China

Hong Kong? Singapore? Tokyo? Seoul? Dubai? The race is on for the Web3 hub of Asia | Part 1

As U.S. regulators file lawsuits against cryptocurrency platforms, prompting some digital asset companies to seek more favorable jurisdictions, a fleet of cities in Asia are putting out the welcome mat, seeking to attract the jobs and investment that Web3 technologies promise. Right now, Hong Kong seems to be grabbing the limelight, but it has competition.
The popular tourist attraction of Batu Caves which are sacred Hindi limestone caves near Kuala Lumpur, Malaysia

Malaysian regulator orders Huobi crypto exchange to cease local operations

The Securities Commission Malaysia (SC), the capital markets regulator, has charged cryptocurrency exchange Huobi Global and its chief executive officer Leon Li for operating a digital asset exchange (DAX) without registration.
3 different colored bitcoin digital currency on computer keyboard with blurred background of investing chart stock market trading in monitor, future financial currency concept

Bitcoin, top 10 cryptos fall except Tron; U.S. futures slightly up; Asian equities rise

Bitcoin traded below US$27,000 in Monday afternoon trade in Asia.
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deposit slip with coins

Are deposit tokens the new stablecoins — or a wolf in sheep’s clothing?

Stablecoins are a key part of the crypto ecosystem, but banks like JPMorgan are now exploring deposit tokens as an alternative. Which is better, and why?
South Korea's Ruling Party lawmaker Lee Man-hee | S.Korean lawmaker propose public officials disclose crypto holdings |

S.Korean lawmakers propose public officials disclose crypto holdings

A South Korean ruling party lawmaker proposed all public officials and candidates disclose their crypto holdings in a new bill unveiled last Friday.
Circle’s reserve breakdown shows US$13.58B cash and US$42.12B U.S. Treasurys

Circle: US regulation can help create the ‘most stable stablecoin’

Circle Vice President of Global Policy Corey Then says he is optimistic that U.S. regulatory developments can eventually benefit local players despite ongoing scrutiny.
Cryptocurrencies

Bitcoin, Ether fall; Tron trades higher; Investors digest G7, U.S. debt ceiling implications

Bitcoin fell below US$27,000 on Sunday, dipping further Monday morning in Asia as wider macro developments continue to weigh.
Bitcoin on chart | Bitcoin, Ether fall to month lows; Polygon leads losers; U.S. equity futures up as inflation cools | Markets, BTC - Bitcoin, ETH - Ethereum, Matic - Polygon, Inflation

Weekly Market Wrap: Bitcoin trades below US$27,000 amid U.S. debt ceiling negotiations

Bitcoin traded below the US$27,000 mark for most of the week, as investor sentiment was weighed down by the prospect of the U.S. government’s potential default. Investors will be closely monitoring the ongoing debt ceiling negotiations.
Ripple XRP token and market screen backdrop | Markets: Bitcoin, Ether inch up; XRP biggest loser among top 10 | bitcoin price today, ether price today, crypto market today, crypto price, xrp news

XRP lone gainer among top 10 cryptocurrencies

Bitcoin and Ether fell during afternoon trading in Asia, along all other top 10 non-stablecoin cryptocurrencies by market capitalization, excluding XRP.
Ripple logo, Hong Kong dollars

Ripple joins Hong Kong CBDC pilot, partners with Fubon Bank

Ripple Labs has launched a new payment platform for a central bank digital currency in Hong Kong.
Golden BTC Bitcoin and XRP Ripple Coins | XRP sees gains after Ripple’s CBDC announcement; US investor sentiment up on positive debt ceiling talks; Bitcoin Ordinals tops sales

XRP gains; Lift-off for Space Pepe NFTs; US investor sentiment up on positive debt talks

Bitcoin and Ether prices fell on Friday morning in Asia. XRP gained after Hong Kong CBDC announcement by issuer Ripple.
electric vehicle and blockchain concept

How blockchain can shift electric car use into the fast lane

Electric vehicles remain rare in developing countries because of high costs and ‘range anxiety,’ writes George Cox of eTukTuk. Here’s how blockchain technology can remove those barriers.
Tether USDT China Litecoin

Is Tether unmoored — or just dandy?

Top blockchain and crypto news: Fighting words over USDT erupt on Twitter. Litecoin surges amid memecoin fever. Chinese city bids for blockchain business.
HKMA boss Eddie Yue

Hong Kong’s e-HKD pilot puts the world on notice

Rollout of the central bank digital currency in Hong Kong is a potential game-changer and a move that others may soon look to follow.
Binance logo displayed on screen and a kangaroo.

Binance suspends Australian dollar services

World’s largest cryptocurrency exchange halts Australian dollar services after payment provider cuts off service.
stack of Bitcoins. | January weekly crypto investment reaches highest since July 2022, says CoinShares report

Matic leads crypto rise despite Ledger security concerns

Cryptocurrencies rebounded on Thursday but wallet service provider Ledger’s latest update raised new security concerns.
(From left to right) Dexter Chan, Smart acting vice president for content business development; Peter Ing, BlockchainSpace founder and chief executive officer; Lloyd Manaloto, Smart first vice president head of prepaid and content; and Aspen Sañez, BlockchainSpace global head of marketing.

Philippine telco giant partners BlockchainSpace for Web3 creator platform

Smart Communications, one of the Philippines’ largest telcos, is entering the Web3 space through a partnership with Web3 community enabler in Southeast Asia, BlockchainSpace.
Bitcoin and cryptocurrency miner

Bitcoin mining difficulty rises to a new all-time high

Bitcoin’s mining difficulty level rose 3.22% on Thursday, hitting an all-time high, as the network’s hashrate also increased to a record high.
Flag of Montenegro, Do Kwon | Montenegro prosecutors appeal court ruling to allow bail for Terraform Labs CEO Do Kwon | do kwon, terra luna, terraform labs

Montenegro prosecutors appeal court ruling to allow bail for Terraform Labs CEO Do Kwon

Montenegro prosecutors have filed an appeal against a local court decision to approve bail for the detained Terraform Labs CEO Do Kwon.
A SIM card with Conflux logo | Conflux Network, China Telecom unveil blockchain-based SIM card | Conflux Network, China, Hong Kong

Conflux Network, China Telecom unveil blockchain-based SIM card

Conflux Network and China Telecom on Tuesday unveiled their first blockchain-based SIM card, which will be piloted in Hong Kong.
bitcoin and other cryptocurrencies | Bitcoin, Ether mixed; Polygon leads gainers; Equity futures flat as U.S. debt default worries recede

Bitcoin, Ether mixed; Polygon leads gainers; Equity futures flat as U.S. debt default worries recede

Bitcoin prices rose on Thursday morning in Asia. Ether edged down, while other top 10 non-stablecoin cryptocurrencies by market capitalization gained.
Bitcoin, cryptocurrency trading.

Bitget crypto exchange doubles down on expansion, to hire 300 more

Bitget is looking to hire 300 more people across operations, compliance, research and development, and customer support, the cryptocurrency exchange said.
Bitcoin | Bitcoin loses ground, Ether dips even as inflows rise; Litecoin edges up, with halving cited | Markets, BTC - Bitcoin, ETH - Ethereum, LTC - Litecoin, Memecoin

Ordinals inscriptions slow down but Bitcoin congestion lingers

Ordinals inscriptions have slowed down this week but Bitcoin continues suffering from congestion issues due to the BRC-20 craze.
Ripple coin on dollar banknotes. XRP Cryptocurrency on US dollar bills

Ripple Labs acquires digital asset custody provider Metaco for US$250 mln

San Francisco-based Ripple Labs, a technology and financial services firm built around the XRP cryptocurrency, said it will acquire Metaco, a Swiss-based tokenization and digital asset custody provider, for US$250 million. 
UK lawmakers propose cryptocurrency regulation as gambling

UK lawmakers propose cryptocurrency regulation as gambling

In a new report, U.K. lawmakers suggest treating Bitcoin and Ether like gambling due to significant consumer financial risks.
bitcoin on downtrend red candlestick graph background

Bitcoin slips below US$27,000, XRP leads gains in top 10 cryptos

Bitcoin prices dropped below US$27,000 on Wednesday afternoon in Asia, while XRP gained the most after positive news for Ripple Labs on its lawsuit against U.S. Securities and Exchange Commission.
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China emblem and NFT | China’s top prosecuting body issues warnings, guidance about country’s NFT market | China, Regulation & Law, NFT - Non-Fungible Token

China’s top prosecuting body issues warnings, guidance about country’s NFT market

China’s top legal authority issued a commentary on Monday about the risks and potential in NFTs, highlighting the need for legislation.
William Hinman, a former director of the SEC’s Division of Corporation Finance. Images: SEC, Envato Elements

XRP lawsuit: Judge denies SEC motion to seal documents in win for Ripple

A U.S. federal judge has denied a motion by the SEC to seal internal documents related to a speech given by the SEC’s former director on whether cryptocurrencies are securities.
Web 3.0

Web3 needs to engage with local communities. Its future depends on it

Web3’s terrible user experience, scams and lack of diversity could be solved if its leaders take a cue from environmentalists and ‘act locally,’ writes Tim Williamson of NieuxCo.
Ripple coin isolated on black background. Cryptocurrency. Top view | XRP gains as U.S. denies SEC motion; NFT index down; U.S. equities anticipate debt ceiling deal | hinman speech, ripple sec, crypto news, crypto price, bitcoin, ether, nft, biden debt ceiling

XRP gains as SEC motion denied; NFT index down; US investors anticipate debt ceiling deal

Bitcoin prices fell on Wednesday morning in Asia but remained above the US$27,000 line. Ether gained but still posted a weekly drop. XRP led gainers among other top 10 non-stablecoin cryptocurrencies.
Screenshot of image on Bitcoin sale in 2010, as displayed on Bitcointalk.org.

Bitcoin history shows first financial transaction was almost an NFT

Internet sleuths unearth the first financial transaction on Bitcoin, showcasing the potential of NFTs.
Bitcoin on a home computer chart and money and investment

Bitcoin, Ether fall, Solana leads declines; U.S. stock futures trade flat; Asian equities mixed

Bitcoin fell 0.58% while Ether dropped 0.36%. Solana was the biggest loser of the day, dropping 1.67%.
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EU crypto MiCA

EU’s MiCA gets unanimous nod from European Council

European Union finance ministers unanimously approved MiCA, a set of cryptocurrency rules aiming to reshape the digital asset industry across the EU bloc.
Logos of SEC and Coinbase

SEC in no rush to respond to Coinbase calls for regulatory clarity

As part of the ongoing legal dispute between the two, the U.S. Securities and Exchange Commission said it would not be hurried into a response to Coinbase demands.
Lawmaker Kim Nam-kuk and Seoul Southern District Prosecutors' Office | South Korea raids firms Upbit, Bithumb, Kakao over local lawmaker’s crypto scandal

South Korea raids firms Upbit, Bithumb, Kakao over local lawmaker’s crypto scandal

South Korean prosecutors have raided Upbit, Bithumb and the crypto wallet unit of Kakao, as part of their investigation into lawmaker Kim Nam-kuk.
anti-money laundering, crypto coins

How DeFi can keep out bad apples while upholding crypto’s core ideals

Crypto users need not fear the increasing KYC/AML requirements around the world and loss of privacy, writes Kurt Hemecker of the Mina Foundation. Here’s why.
bitcoin crypto currency diagram | Bitcoin, Ether gains; Litecoin continues bull run; optimism solution to US debt crisis will be reached

Bitcoin, Ether gains; Litecoin continues bull run; optimism a solution to US debt crisis can be reached

Bitcoin prices rose along with Ether, while Litecoin continues to lead gainers among other top 10 non-stablecoin cryptocurrencies.
Cryptocurrency golden bitcoin

Bitcoin, Ether push higher, Litecoin biggest gainer in top 10 cryptos; U.S. stock futures, Asian equities gain

Bitcoin rose 2.07% to US$27,409 in 24 hours while Ether gained 1.27% to US$1,829. Litecoin was the biggest gainer of the day, rising 7.65%.
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DOJ Logo

Head of U.S. DOJ crypto enforcement eyes crackdown on non-compliant crypto exchanges: FT

The U.S. Department of Justice is aiming to crack down on cryptocurrency exchanges that help criminals facilitate money laundering
blockchain and NFT abstract concept

Tokenization is changing the world, from finance to art

Fractionalizing assets on the blockchain opens up investment opportunities for the public and the capital market’s access to liquidity, writes Bob Ras. Here’s what’s holding it back.
E-CNY icon and office supplies | China’s Jiangsu Province to expand digital yuan adoption in education sector | China, CBDC - Central Bank Digital Currencies, Digital Yuan

China’s Jiangsu Province to expand digital yuan adoption in education sector

China’s Jiangsu Province plans to expand the use of digital yuan to its public education system, as the province seeks to spearhead the country’s CBDC pilot.
bitcoin korean won | Bank of Korea and financial regulator in turf war over who supervises crypto industry

Bank of Korea and financial regulator in turf war over who supervises crypto industry

Bank of Korea, the central bank, seems uncomfortable with the Financial Services Commission, the country’s regulator, having the mandate over the cryptocurrency industry. The bank is pushing for more say, arguing crypto can influence the stability of the overall financial market and that involves the central bank.
China flag and yuan icon | China’s Fuzhou City offers cash benefits to attract blockchain companies, investment | China, DLT - Distributed Ledger Technology, Regulation & Law

China’s Fuzhou City offers cash, subsidies to attract blockchain companies, investment

China’s Fuzhou City on Friday unveiled a raft of policies to attract investment by blockchain-related companies, including rent subsidies and cash awards.
The national flag of Canada. Image: Envato Elements

Binance exits Canada amid increased regulation in North America

Regulatory hurdles have once again hit Binance in North America, with the world’s largest cryptocurrency exchange announcing on Friday that it would cease operations in Canada due to tightened crypto rules.
Bitcoin, ether

Bitcoin, Ether edge higher; Litecoin leads gainers; investors weigh impact of US debt crisis

Bitcoin prices rose on Monday morning in Asia to above US$27,000. Ether managed to rise above the US$1,800 support level as Litecoin leads gainers.
Sebastien Guillemot, Web3 developer in Japan

Looking to expand Web3 activities into Japan? Watch the biggest firms for clues, says gaming protocol founder.

While the community might be small, there’s a growing buzz around Web3 in Japan, with overseas companies now taking note. For clues on how to make it big in the land of the rising sun, follow the lead of the nation’s largest firms, says Sebastien Guillemot, co-founder of Paima Studios.
ElonMusk

Elon Musk’s NFT rocket launch. What has he done to Milady?

NFTs were ready for takeoff this week and Elon Musk’s tweet blasted it off.
Coins with bitcoin symbol on red light and crypto stocks chart background. Concept of a cryptocurrency market crisis.

Weekly Market Wrap: Bitcoin dips to US$26,166 as memecoins flood the blockchain

Bitcoin briefly fell to US$26,166 this week, as BRC-20 memecoins flooded the blockchain, raising network congestion issues. Market analysts told Forkast that a weekly close under US$26,111 signals more bearish momentum
Bitcoin tokens above dollar banknotes

Bitcoin, Ether fall along with most top 10 cryptos; U.S. futures rise ahead of debt ceiling negotiations

Bitcoin and Ether fell during Friday afternoon trading in Asia, along with most of the top 10 non-stablecoin cryptocurrencies by market capitalization, apart from the XRP token.
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Binance.US founder Changpeng Zhao. Image: Binance/Twitter

Binance.US may reduce founder Changpeng Zhao’s ownership stake: The Information

Binance.US is reportedly exploring ways to cut founder Changpeng Zhao’s ownership stake in the company, The Information reported on Thursday, citing two sources familiar with the matter.
Tokyo Big Sight venue, Japan

Japan government’s crypto czar touts nation’s Web3 capabilities

Japan was an early believer in blockchain and cryptocurrencies until exchange hacks brought a crackdown. But that was then. Now the government has become a crypto cheerleader.
Bitcoin on chart | Bitcoin, Ether fall to month lows; Polygon leads losers; U.S. equity futures up as inflation cools | Markets, BTC - Bitcoin, ETH - Ethereum, Matic - Polygon, Inflation

Bitcoin, Ether fall to month lows; Polygon leads losers; U.S. equity futures up as inflation cools

Bitcoin prices slid under US$27,000 on Friday morning in Asia. Ether fell below support at US$1,800 as all top 10 non-stablecoin tokens retreated.
Terraform’s Do Kwon pleads not guilty to passport forgery; lawyers propose US$437,000 bail

Terraform’s Do Kwon pleads not guilty to passport forgery; lawyers propose US$437,000 bail

Terraform Labs chief Do Kwon denied charges of attempting to travel with fake travel documents during a court hearing Thursday in Montenegro.
Animoca Brands co-founder and chairman Yat Siu | Animoca Brands slashes Web3 fund target to US$1B: Bloomberg | ftx, animoca brands, star atlas

Animoca Brands says it holds US$3.4 bln in assets

Animoca Brands revealed US$2.7 billion in off-balance sheet token reserves in its latest unaudited financial update.
BRC-20 makes Bitcoin network a victim of its own success

Bitcoin network buckles under weight of BRC-20’s runaway success

Top blockchain and crypto news: Memecoin fever strains BTC network. Binance slams brakes on Bitcoin withdrawals. Chinese court allows crypto for repaying debt.
A screenshot of Bitcoin Punks, on the Ordinals.Market NFT marketplace

Bitcoin congestion issues continue amid BRC-20 memecoin, Ordinals surge

Bitcoin network faces heightened congestion with over 5 million inscriptions, exacerbating block space demand as BRC-20 tokens achieve a market cap milestone of $1 billion, contributing to increased activity on the network.
Gold bitcoin coin falling to water. Bitcoin and water splash.

Bitcoin, Ether fall along with most cryptos; U.S. futures strengthen as inflation in April slowed

Bitcoin and Ether fell during Thursday afternoon trading in Asia, along with most of the top 10 non-stablecoin cryptocurrencies by market capitalization, with Polygon’s Matic leading losses for a second consecutive session.
Japan Nextech week conference hall

Japan looks to regain its place in the cryptocurrency world pecking order

The three-day NexTech Week trade show kicked off Wednesday in Tokyo, celebrating all things technology, including blockchain and Artificial Intelligence.
China emblem on circuit | China’s national blockchain research center aims to train 500,000 blockchain professionals | China, DLT - Distributed Ledger Technology, Government

China’s national blockchain research center aims to train 500,000 blockchain professionals

China’s national blockchain research center was launched in Beijing on Wednesday and plans to train over 500,000 blockchain professionals for the country.

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The Current Forkast

An unmissable weekly round up of the biggest stories in emerging tech from an Asian perspective, featuring commentary from Forkast Editor-in-Chief Angie Lau. Check out recent editions.