Archives

Xiamen has revealed its three-year action plan to nurture its cluster of metaverse firms involved in non-fungible tokens (NFTs), VR/AR, chips and related hardware with over 100 million yuan (US$15 million) in revenue, according to the local government’s working plan. See related article: ‘Metaverse’ enters government radar at China’s Two Sessions Fast facts See related […]

Singapore-based cryptocurrency exchanges Crypto.com and Bybit have announced that they will be setting up offices in Dubai, as the industry continues its migration towards the United Arab Emirates (UAE).  See related article: As Binance shrinks away in Asia, will it put down roots in the Middle East? Fast facts See related article: Ripple launches first […]

Despite criticisms of play-to-earn games, blockchain innovations are here to stay and represent gaming’s future, writes William Wu of Catheon Gaming.

The country’s attempt to profit from digital asset gains puts off new investors to the asset class, even as existing ones redeploy funds into traditional assets.

Australian crypto exchange BTC Markets has partnered with Mastercard to allow its customers to make direct debit, prepaid or credit card payments to purchase cryptocurrencies from the platform. See related article: Mastercard partners with Australian exchange for crypto card Fast facts The move is part of a broader trend by payments giants like Mastercard and […]

Greyscale Investments might sue the U.S. Securities and Exchange Commission (SEC) if its filing to convert its US$30 billion Bitcoin trust into an exchange-traded fund (ETF) is rejected, company CEO Michael Sonnenshein told Bloomberg. See related article: Bitcoin price hits all-time high after ProShares ETF debut Fast facts The SEC’s deadline to approve or reject […]

Binance US is on track for an initial public offering (IPO) in two to three years, with a “couple of hundred million dollars” in funding to be announced in April, Binance US CEO Brian Shroder said at the Binance Blockchain Week on Monday.  See related article: Binance US under probe for ties with trading affiliates: […]

Aided by crypto like Monero, ransomware crimes are on the rise globally, writes Srinivas Mukkamala of Ivanti. Android users are especially vulnerable.

The Australian Securities Exchange (ASX) has announced its highly anticipated AU$250 million (US$187 million) blockchain project has been delayed for release until late 2023 at the earliest. See related article: Australian Securities Exchange to launch crypto-related ETF Fast facts CHESS, or Clearing House Electronic Subregister System, was initially slated for a blockchain upgrade by April […]

World of Women (WoW) Galaxy, the second non-fungible token collection launched by WoW, a community focused on increasing diversity and inclusion, was sold out within three days after launching with US$14 million in primary sales.   See related article: Ukraine’s NFT museum of Russian conflict goes live Fast facts Total WoW Galaxy sales in the past […]

The Japanese trustee for Mt. Gox is likely to distribute the remaining trove of Bitcoins held by the defunct cryptocurrency exchange sooner than later, former CEO Mark Karpeles tells Jake Adelstein in an exclusive interview for Forkast.

A Hangzhou-based data firm has confirmed that it is working on the application of the digital yuan and the metaverse in the upcoming 2022 Asian Games.  See related article: China’s digital yuan app now publicly accessible, one step closer to launch Fast facts See related article: 2022 Asian Games in Hangzhou to sell torch NFTs […]

Bitcoin, the largest cryptocurrency by market capitalization, crossed US$47,000 on Monday Asia time after a sudden spike, the first time since early January.  See related story: Bitcoin wakes up to pass $40,000 before going back to sleep Fast facts Bitcoin has traded below US$45,000 since January, but broke out to trade at US$46,823 on Monday […]

South Korea’s Ministry of Science and ICT (MSIT) is recruiting extended reality, artificial intelligence, and non-fungible token (NFT) experts for its upcoming boot camp designed to train future metaverse professionals.  See related article: South Korea wants to be the physical home of the metaverse Fast facts MSIT is launching what it calls the nation’s first […]

Ukraine’s Ministry of Digital Transformation launched the Meta History Museum of War on Friday, a museum hosted on the Ethereum and Polygon networks that chronicles the country’s war with Russia through non-fungible tokens (NFTs). See related article: Zelenskyy legalizes cryptocurrency in Ukraine Fast facts “Disinformation is used by Russia on a par with deadly military […]

Chinese state-backed real estate giant Greenland Group has formed a partnership, through its financial arm, with Singapore-based digital securities exchange MetaVerse Green Exchange (MVGX), to offer cross-border digital carbon credits trading services. See related article: China eyes blockchain for carbon trading Fast facts The partnership will allow accredited, institutional investors to trade digital carbon credits […]

Azuki, an anime-inspired NFT avatar collection, surged over 140% in the past 24 hours to top Friday’s sales volume chart, surpassing Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club, according to CryptoSlam data.  See related article: Azuki, CryptoPunks battle it out for week’s top NFT title Fast facts With its latest spike, Azuki’s […]

Flexibility allowed in new rule requiring crypto companies to comply with anti-money laundering guidelines leads to some confusion.

Volatility has been the name of the game in the past few months, but experts tell Forkast that may be coming to an end.

Malaysia’s deputy finance minister Shahar Abdullah turned down a proposal to adopt Bitcoin as legal tender on Thursday, calling cryptocurrency unfit for payments.  See related article: Malaysia ministry: adopt crypto as legal tender to engage the young Fast facts Abdullah voiced concerns around cryptocurrencies’ price volatility and cyber security risks. Zahidi Zainul Abidin, the deputy […]

South Korea’s financial watchdog has passed on the compliance of private cryptocurrency wallets to exchanges, as the Financial Action Task Force (FATF) travel rule went into effect on Friday. See related article: FATF updates regulatory guidance for crypto industry Fast facts “The travel rule only regulates transactions among individuals. There isn’t any rule pertaining to […]

EarnU, a play-to-earn crypto sports and esports prediction platform, has forayed into India, to target betting Indians looking to earn crypto rewards for correct predictions.  See related article: How sports and crypto are knocking it out of the park Fast facts EarnU is a game that is free to play for BETU token holders.  While […]

China’s anti-graft watchdog has warned that authorities are keeping a close eye on possible corruption behind underground cryptocurrency mining that persists even after the government banned the sector.  See related article: China ousts former official for supporting crypto mining, corruption Fast facts The Central Commission for Discipline Inspection (CCDI) of the Chinese Communist Party said […]

Russia State Duma deputy and Energy Committee chairman Pavel Zavalny proposed Bitcoin and national currencies as payment options for energy exports to “friendly countries,” such as Turkey and China, at a press conference on Thursday. See related article: EU says crypto included in sanctions against Russia and Belarus Fast facts Zavalny proposed gold and Russia’s […]

With explosive growth in the past 12 months, the non-fungible token industry is getting too big to ignore IP licenses, experts say.

Cryptocurrency payments will be banned in Thailand starting April 1, the Securities and Exchange Commission (SEC) announced on Wednesday.  See related article: Thailand eases crypto tax burden until 2023 to promote industry Fast facts The SEC said price volatility, lack of customer safeguards, money laundering and cyber theft risks drove the decision to ban cryptocurrencies […]

Bollywood icon Amitabh Bachchan is in the crosshairs of Indian tax authorities again, this time for NFT sales.

Chinese telecommunications equipment maker ZTE has successfully registered a number of metaverse-related English trademarks. See related article: ‘Metaverse’ enters government radar at China’s Two Sessions Fast facts ZTE’s trademarks fall under the scientific equipment and communication services categories, setting the stage for the firm to provide related services in the metaverse. The partially state-owned Chinese […]

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 […]

DAOs promise radically inclusive and rewarding workplaces, writes Parker McCurley of Decent Labs. Here’s how it would work.

BAYC is one of the hallmark NFT collections and a billion-dollar ecosystem. This Forkast explainer explores the cartoon primates and what makes them so special.

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 […]

Top blockchain and crypto news: Bitcoin buzz in Malaysia. Yuga Labs teases Otherside. Blockchain verdict in China.

Conflict in Ukraine takes a toll on Malaysian exchange’s $10 million IPO just a week before planned listing.

Blockchain gaming unicorn Animoca Brands co-founder and executive chairman Yat Siu said Web 3.0 needs rapid adoption in order to become more decentralized at Australia Blockchain Week in Melbourne on Wednesday. See related article: FTX heads Down Under as Australia looks to crypto industry Fast facts “If people don’t move into the space quickly enough, […]

Ethereum Classic (ETC) is leading the crypto market’s weekly rally by gaining 79.2% over the past seven days, a time frame in which all but five non-stable tokens in the top 100 by market cap landed in the green.  See related article: How Ethereum Classic’s 51% attacks reveal risks to Bitcoin and Ethereum Fast facts […]

Strong sales from leading NFT series may be a sign the market is maturing as investors become more discerning, observers say.

Bored Ape Yacht Club creator Yuga Labs announced on Wednesday Asia time that it has raised US$450 million in a funding round, bringing the Web 3.0 company to a total valuation of US$4 billion.  See related article: The future is decentralized: How Web3 can reshape the world Fast facts The funding round was led by […]

Adding to its ambitious roster of sports sponsorships, Crypto.com will be the exclusive cryptocurrency trading platform backing the Qatar World Cup after bagging the deal for an undisclosed amount, the international soccer association announced on Wednesday, Asia time.  See related article: Crypto.com discloses details of US$34M hack Fast facts Singapore-based Crypto.com stands to gain massive […]

Traditional banks are failing the nearly 2 billion people in the world without access to financial services, writes Khalid Howladar. But DeFi can be a lifeline.

China’s state-backed Blockchain-based Service Network (BSN) has announced the addition of “Zhong Yi Chain,” developed by telecommunications giant China Mobile, to its open permissioned blockchain ecosystem to bolster the growth of home-grown non-fungible tokens (NFTs). See related article: BSN to integrate CasperLabs’ chain to support NFT issuance in China Fast facts The new chain serves […]

Inspired by the success of Beeple, Miguel Wang created CryptoTigers to generate pixelated tiger images for the Year of the Tiger.

Sichuan and Inner Mongolia are two regions that recently announced their first cases using blockchain-stored evidence, local media reports. See related article: How blockchain technology is shaking up courtrooms in Asia Fast facts See related article: Court in China says trading in cryptocurrency ‘not protected by law’

Algorand is planning a series of upgrades to bolster the network’s privacy and speed, and developing permissioned co-chains with a trustless decentralized bridge between chains, founder and MIT professor Silvio Micali said at Blockchain Week Australia on Tuesday.  See related article: What is Algorand and why is it a blockchain to watch? Fast facts Algorand […]

Malaysia’s deputy minister of its Communications and Multimedia Ministry told the parliament on Monday the country should consider adopting cryptocurrencies like Bitcoin as legal tender, local media The Star reported. See related article: Will El Salvador’s lead on Bitcoin inspire others to follow suit? Fast facts Zahidi Zainul Abidin, the deputy minister, said the communications […]

In a move that may adversely impact crypto adoption in the country, India’s government said its pending tax law for virtual digital assets will not allow offsetting gains on one crypto with losses from another. See related article: India may impose 28% GST on crypto transactions Fast facts India’s government plans to collect a 30% […]

The Korea Forest Service is starting a tree-planting campaign in the metaverse in conjunction with fintech company Dunamu — for every tree planted in the metaverse, it will plant two trees in the fire-affected mountain forest of Andong. See related article: South Korea places $185M bet on the metaverse Fast facts An event is planned […]

Ethereum’s market value passing up Bitcoin’s may not be a matter of if, but when. Dr. Kosrow Dehnad and Joe Duncan offer a predictive model.

Goldman Sachs announced its first over-the-counter crypto options trade on Monday, becoming the first major U.S. bank to do so, marking a milestone for crypto adoption on Wall Street. See related article: Goldman Sachs: Bitcoin could reach $100K price by beating gold Fast facts The trade was in the form of a Bitcoin non-deliverable option […]

The $320 million Wormhole hack laid bare the vulnerability of cross-chain bridges, writes Alex Smirnov of deBridge. How can we plug the gaps?

Bahamas-based crypto exchange FTX announced the establishment of an Australian branch on Monday Asia time as part of the company’s global expansion plans. See related article: New crypto regulation — including tax reform — coming to Australia Fast facts FTX Australia will be headquartered in the nation’s financial capital Sydney and will be fully licensed […]

Australian senator Andrew Bragg called for “urgent” regulation of decentralized autonomous organizations (DAOs) under the nation’s Corporations Act as part of his Digital Services Act proposal at Blockchain Week Australia on Monday.  See related article: ​​New crypto regulation — including tax reform — coming to Australia Fast facts DAOs can replace companies and are therefore […]

Yuga Labs, creators of the Bored Apes Yacht Club (BAYC) non-fungible token (NFT) collection, teased the launch of its metaverse called Otherside, coming in April. See related article: BAYC’s floor price surpasses 100 ETH since ApeCoin launch Fast facts The teaser video released by Yuga Labs on Saturday featured Yuga Labs NFTs including Mutant Ape […]

Financial Action Task Force (FATF) travel rule compliance service providers VerifyVASP and CODE have signed a memorandum of understanding to link their services before the rule goes into full effect in South Korea this Friday. See related article: South Korean crypto businesses scramble to meet FATF travel rule Fast facts The two entities are backed […]

MaiCoin, Taiwan’s largest cryptocurrency exchange, is considering a Nasdaq listing within two years, Bloomberg reported on Friday. See related article: Taiwan has a chance to develop crypto amid China’s clampdown, Filecoin Foundation director says Fast facts MaiCoin is also completing its Series C funding round which would value the company at US$400 million. MaiCoin expects […]

The People’s Bank of China and four state departments confirmed their support for bidding regions in the southeastern province Zhejiang to carry out the next batch of digital yuan pilots. See related article: PBOC branch chief seeks clarity on digital yuan as legal tender Fast facts See related article: Hong Kong makes apt testbed for […]

The Indian government is working to determine whether cryptocurrencies can be classified as goods or services, which can impose a different taxation scheme on digital assets, local media reported. See related article: India’s crypto tax will incur losses for government, says WazirX CEO Fast facts Government officials believe crypto trading is similar to gambling and […]

Sweeping reforms are coming to Australia’s crypto sector, including a new tax system, additional protections for investors, and regulation for crypto exchanges and brokers. See related article: Australia on track for a crypto boom by 2030, EY report says Fast facts The Australian government will release documents relating to the regulation on Monday as it […]

Capital control limiting outflows may be less of an issue in the future with e-CNY being a ‘controllable currency,’ experts say.

Weibo, a social media platform known as the Chinese equivalent of Twitter with 249 million daily active users, launched its non-fungible token (NFT) marketplace TopHolder on Thursday, allowing users to mint their original posts into NFTs and sell them. See related article: Zuckerberg confirms NFTs coming to Instagram Fast facts Users will need to pass […]

Europe’s first metaverse-themed exchange-traded fund (ETF), the ETC Group Global Metaverse UCITS ETF (METR), listed on the London Stock Exchange Thursday, available for sale across Europe. See related article: Hong Kong gears up for its first metaverse ETF Fast facts The ETF will track the Solactive ETC Group Global Metaverse Index, which currently offers exposure […]

South Korean financial institution Shinhan Financial Group’s credit card subsidiary announced Friday that all of its employees are headed to the Gather.town metaverse for training on data usage in business operations. See related article: S. Korean, S. African banks team up for stablecoin-based remittances Fast facts Shinhan Card employees will complete missions on the metaverse […]

Nasdaq-listed crypto exchange Eqonex has appointed Jonathan Farnell, a former head of Binance U.K., as its new CEO and a director on the board. See related article: UK regulator may cancel Eqonex’s registration over Binance, Bifinity ties Fast facts Helen Hai, president of Binance’s payment arm Bifinity, has also been appointed to the board. The […]

Tokyo-based mobile financial platform Kyash has raised US$41.2 million (about 4.9 billion yen) in its Series D funding joined by Jack Dorsey’s Block. See related article: After Facebook’s name change to Meta, Square has now become Block Fast facts Kyash has accumulated a total funding of about US$107.7 million since its launch in 2015, which […]

The largest U.S. crypto exchange Coinbase announced on Friday support for the Solana ecosystem through its wallet browser extension, allowing users to manage their Solana (SOL) and Solana-based SPL tokens See related article: Solana wallet Phantom brings valuation to $1.2B after $109M Series B Fast facts Solana’s integration with the wallet enables users to access […]

The Central Bank of Russia has given the country’s largest bank, Sberbank, a license to issue and exchange digital assets only two months after the central bank had called for a full ban on cryptocurrency. See related article: Russia retreats from crypto ban as it pushes rules for industry Fast facts The move may allow […]

Around 4 million trees are required to offset the nearly 240 million kilograms of carbon dioxide produced by the CryptoKitties non-fungible token (NFT) collection, according to research by NFT Club, an NFT education company.  See related article: ​​NFTs and music: Is the fan outcry over NFTs’ environmental impact warranted? Fast facts Sorare, Axie Infinity, Art […]

Ethereum’s merge on the Kiln testnet on Wednesday was a success, as the blockchain passed the final public test before its highly anticipated transition from a proof-of-work (PoW) consensus mechanism to proof-of-stake (PoS), which is expected to happen by the end of Q2, 2022. See related article: The best of Ethereum 2.0 is yet to […]

South Korean digital asset experts gathered at the National Assembly on Thursday to discuss president-elect Yoon Suk-yeol’s crypto campaign promises, which included his plan to bring back initial coin offerings (ICOs). See related article: A crypto bull wins the presidency: What it means for South Korea Fast facts The head of crypto exchange Upbit’s investor […]

Bored Ape Yacht Club’s (BAYC) floor price surged to 106.5 ETH since the launch of ApeCoin, while its spin-off collection Mutant Ape Yacht Club’s (MAYC) floor price rose to 23.65 ETH at press time. See related article: Bored Ape Yacht Club teams up with Animoca Brands to develop play-to-earn game Fast facts The ApeCoin launch […]

Binance has received a virtual asset license in Dubai to offer services to qualified investors, as the world’s largest crypto giants continue their Middle East drive.  See related article: Binance wins license in Bahrain, explores acquisition of Brazilian brokerage Fast facts The license will allow Binance to operate within Dubai’s “test-adapt-scale” model and serve pre-qualified […]

Chinese crypto mining rig maker Canaan announced Wednesday its plans to buy back up to US$100 million worth of shares over the next two years. See related article: Chinese mining rig maker Canaan secures purchase order from Genesis for 30K units Fast facts The Nasdaq-listed company’s latest move comes after it completed its previous US$20 […]