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Beijing Capital Airport, E-CNY rollout continues as Beijing Capital Airport accepts CBDC payment

E-CNY soft rollout continues as Beijing Capital Airport accepts CBDC payment

The soft rollout of the electronic Chinese yuan (e-CNY) continues across China in advance of its expected formal launch in time for the Beijing Winter Olympics in February. In the latest sign, Beijing Capital International Airport has become the first airport in the country to support payment by the central bank digital currency (CBDC), which […]
London

Ripple joins Digital Pound Foundation as it looks to expand its CBDC business

Ripple, a San Francisco-based blockchain payments company, has joined the Digital Pound Foundation, a non-profit organization supporting the implementation of a digital pound in the United Kingdom, according to a Ripple blog post. Fast facts As a foundation member, Ripple will be represented on the board by Susan Friedman, Ripple’s head of policy. Other foundation […]
Sothebys

Sotheby’s to auction digital art in a digital world

Sotheby’s, the 277-year-old auction house, is launching its own immersive digital experience to offer prospective buyers a new way of engaging with the latest art-world craze — non-fungible token (NFT) artworks — according to a press release shared with Forkast.News. Fast facts Sotheby’s is creating a metaverse to allow users to explore and learn about […]
Person paying pay through smartphone using NFC, Chinese state-run bank teamed with telecom giant to launch an SIM-card-based E-CNY wallet

China Mobile launches a network-less E-CNY wallet

The state-run Industrial and Commercial Bank of China (ICBC) and telecommunications service giant China Mobile on Wednesday jointly announced the launch of a fiat digital-yuan hard wallet that allows equipped phones to transact in e-CNY without a mobile network. Fast facts The wallet, SIM Pay, is a super-SIM card with near-field communication (NFC) technology. NFC […]
Binance Chief Regulatory Liaison Officer Mark McGinness

Binance taps former Dubai financial services official as regulatory liaison chief

Binance — the world’s biggest cryptocurrency by trading volume — today announced the appointment of Mark McGinness, former head of international relations at the Dubai Financial Services Authority (DFSA), as its chief regulatory liaison officer, according to a company statement. Fast facts McGinness’ appointment comes as Binance bolsters its compliance efforts and navigates regulatory headwinds […]
AntPool

Crypto mining pool AntPool to stop IP access from mainland China

AntPool, currently the world’s second-largest Bitcoin mining pool in terms of real-time hashrate, announced today that it is stopping the connection of IP addresses from the Chinese mainland beginning Friday. Fast facts AntPool said in its statement it decided to make the adjustment to abide by the Chinese government’s relevant rules on crypto mining and […]
mining

U.S. leads in Bitcoin mining as China’s share drops to zero: Cambridge data

U.S., Kazakhstan, Russia take up largest Bitcoin hashrate shares as the exodus of Chinese miners continues.
XREX

Taiwanese fintech startup XREX collaborates with TRM Labs to ramp up security

XREX Inc., a Taipei-headquartered crypto-fiat exchange and trade technology platform, today announced a partnership with TRM Labs, a blockchain intelligence provider, to ramp up its platform’s security and enhance its ability to combat fraud and suspicious activities. Fast facts XREX said in a statement it has put to use the risk management tools developed by […]
East Asia's cryptocurrency value received by country - China, South Korea, Japan, Hong Kong (July 2020 to June 2021)

East Asia falls from 1st to 4th place in share of global crypto transaction volume

East Asia’s share of global cryptocurrency transactions plunged to 14% in June 2021 from 31% in April 2019 when it was by far the world’s largest crypto economy, according to blockchain data provider Chainalysis’ 2021 Eastern Asia Report published today. Fast facts China’s crypto crackdown in May saw East Asia — with China the biggest […]
NFT, Another Chinese state-run media outlet faults NFT hype

Another Chinese state-run media outlet faults NFT frenzy

The Chinese government-aligned newspaper Guangming Daily published an opinion article to criticize non-fungible token (NFT) hype, which is “definitely not good for the healthy development of NFT.” Fast facts The article cited Gartner, a global technology research company, and its report Hype cycle for emerging technology, indicating that NFTs are at a high point of hype. The […]
Gate.io, Cobo

Crypto platforms Cobo, Gate.io leave mainland following China crypto ban

Cryptocurrency investors on the Chinese mainland continue to feel the chill from the country’s latest crypto ban, as more and more industry players exit the Chinese market. Cobo, a Singapore-based crypto management platform, is among the latest to opt out. Fast facts In order to reflect the regulatory requirements on the mainland, Cobo said Wednesday […]
Nervos cross-chain bridge connecting Nervos and Ethereum blockchains

Public blockchain Nervos launches cross-chain ‘Force Bridge’ on mainnet

Nervos, a public blockchain backed by China Merchants Bank International and Sequoia China, today announced the mainnet launch of its cross-chain “Force Bridge,” according to a company statement shared with Forkast.News. Fast facts The Force Bridge enables cross-chain transactions between Nervos and Ethereum, with support for ETH and whitelisted ERC-20 tokens, including Dai (DAI), Tether […]
earth with blockchain nodes connecting

Why global regulations for stablecoins can help catalyze crypto adoption

In this special Q&A, industry leaders tell Forkast.News why global stablecoin regulations can help catalyze crypto adoption.
NFT artworks that will be showcased at the ImpactNFT exhibition | Hong Kong's new NFT exhibition to showcase NFTs-for-good

Hong Kong exhibition to showcase NFTs for good causes

An NFT art exhibition demonstrates how digital tokens can be used to promote United Nations sustainability goals.
Sydney

Australian Securities Exchange to launch crypto-related ETF

Hot on the heels of a similar exchange-traded fund being approved in the U.S., the Australian Securities Exchange is close to launching the “BetaShares Crypto Innovators ETF,” which will grant exposure to global companies working in the digital asset space, according to the Financial Review. Fast facts Using the ticker “CRYP,” the ETF aims to […]
BSN

China’s state-backed blockchain network, U.S. firm team up to enhance CBDC efficiency

China’s Blockchain-based Service Network (BSN) — a public-private nationwide infrastructure project to spur mass adoption of blockchain technology — is partnering with a New York-based blockchain company to advance interoperability as BSN actively expands its global presence to lure more developers to use the blockchain network. Fast facts Cypherium, a smart contract technology provider focusing on central […]
Celsius repays over US$113 mln in debt; recovers US$122 mln in collateral

Crypto lender Celsius bags US$400M despite regulatory heat

In spite of ongoing regulatory issues, cryptocurrency lender Celsius Network has raised US$400 million in an investment round pegging the valuation of the company at US$3 billion. Fast facts The funding was led by U.S. growth equity firm WestCap and Caisse de dépôt et placement du Québec (CDPQ), a global investment group.  Celsius will use the funds to […]
Bitcoin - Illustrations of Cryptocurrency

Bitcoin bulls set for stampede amid six-figure forecasts

Top blockchain and crypto news: Big money heads for Bitcoin. How fishy are Squid Game NFTs? China mothballs mining.
TikTok

TikTok’s first NFT collection auction goes live featuring rapper Curtis Roach

Popular short-video app TikTok has started its non-fungible token (NFT) auction of “TikTok Top Moments” that feature works of a series of rappers and artists, as the social media giant appears keen to jump on the NFT bandwagon. Fast facts The auction of Detroit rapper Curtis Roach’s “Bored in the House” NFT has gone live, […]
Bitmain

Bitmain to supply 10K Antminer rigs to Bit Digital for U.S. expansion

Crypto miners in China may be under siege and driven out of business or forced to flee to friendlier shores. But one corner of the country’s crypto mining industry — the mining machine manufacturers — does not seem to be affected much. Chinese mining rig maker Bitmain, for example, has recently secured a deal with […]
Crypto exchanges diversify amid growing competition

Crypto exchanges diversify amid growing competition

As non-crypto players like Twitter and PayPal take up digital assets, Coinbase, Binance and others look for ways to expand offerings.
Binance

Binance to shut down yuan trading on C2C platform after China’s crypto ban

Binance — the largest cryptocurrency exchange in the world by market value — is set to close down the yuan trading feature on its customer-to-customer platform on Dec. 31, the company said today in a statement, in a move to “meet regulatory requirements of the local government.” Fast facts Binance also said it will conduct […]
Coinone logo | South Korean exchange Coinone builds center for anti-money laundering

South Korean crypto exchange toughens anti-money laundering efforts

Coinone, one of South Korea’s major cryptocurrency exchanges, is creating a new center to strengthen its anti-money laundering capabilities. Fast facts Coinone announced yesterday it has established an anti-money laundering (AML) center and is making Suspicious Transaction Reports (STRs) to financial authorities. Coinone’s AML Center, along with its partner NH Nonghyup Bank, will conduct know-your-customer […]
Hex Trust integrates Hedera Hashgraph

Hex Trust integrates Hedera Hashgraph into custody platform

Hong Kong-based digital asset custodian Hex Trust has integrated enterprise-grade public blockchain network Hedera Hashgraph into its Hex Safe custody platform, the company announced today. Fast facts With the integration, Hex Trust’s Hex Safe custody platform will support HBAR — the Hedera network’s native cryptocurrency — and tokens issued using the Hedera Token Service (HTS), […]
'Squid Game' card NFT page on OpenSea | Netflix show Squid Game NFTs being traded on OpenSea

‘Squid Game’ NFTs being traded on OpenSea

An unidentified NFT (non-fungible token) creator with user name 9194C0 on digital marketplace OpenSea has created nearly 2,000 NFTs that replicate the globally popular Netflix series ‘Squid Game’ with some being traded for more than 1 ETH. Fast facts The NFTs replicate a card that appears on the television series inviting the protagonist to join […]
Ripple and Nelnet logos; solar panels

Ripple to fund solar energy projects in the U.S.

San Francisco-based blockchain payments company Ripple has partnered with Nelnet Renewable Energy, the renewable energy investment business of NYSE-listed Nelnet, on a US$44 million clean energy fund to support solar energy projects in the United States, the company said. Fast facts The solar projects financed by the Ripple Nelnet Renewable Energy Fund are estimated to […]
Blockchain analytics firm Elliptic bags US$60M from Softbank, Wells Fargo and others

Blockchain analytics firm Elliptic bags $60M from SoftBank, Wells Fargo, others

Blockchain analytics company Elliptic has raised US$60 million in its Series C funding round led by Evolution Equity Partners and Japanese investment giant SoftBank, the company has announced. Fast facts Elliptic counts a number of marquee investors among its existing backers who participated in the current financing round, including Digital Currency Group, Wells Fargo Strategic […]
mining rig

China to ‘outdate’ crypto mining industry with more restrictions

The country’s top economic planner hopes to prohibit investment in what it considers an energy-intensive sector.
and
Bitcoin

Bitcoin price poised to retest all-time high

Crypto market watchers tell Forkast.News what’s behind Bitcoin’s latest resurgence and predict Bitcoin’s price heading into Q4 2021.
Screenshot of the McDonalds NFT Big mac cube, McDonald's China launches first NFT to commemorate 31 years in mainland market

McDonald’s China launches first NFT to commemorate 31 years in mainland market

Working with Chinese blockchain Conflux, McDonald’s China has launched its first NFT to commemorate its 31st anniversary in the Chinese mainland market and the official opening of its new headquarters in Shanghai. The NFT, “Big Mac Cube,” is a three-dimensional digital token inspired by McDonald’s branding and the shape of its new headquarters building.  Fast […]
U.K. gambling watchdog is investigating soccer-NFT platform Sorare

UK gambling watchdog takes shot at soccer NFT platform Sorare

The U.K. Gambling Commission has launched an investigation into Sorare, the French fantasy soccer non-fungible token (NFT) platform. Fast facts The gambling watchdog said that any activity on Sorare by British citizens falls outside of gambling regulations in Great Britain, since Sorare is not registered with the commission. Therefore, the notice advised Sorare users to […]
CNY money counter, Postal Savings Bank has become a digital RMB research and development bank

Postal Savings Bank of China tapped for development role in digital yuan payments

The Postal Savings Bank of China has become one of the appointed research and development institutions for the electronic Chinese yuan (e-CNY), allowing the bank to hold a first-mover advantage in the competition for position in China’s electronic payments market, its owner, the state-owned China Post Group, said in an article. Fast facts The bank […]
Axie Infinity's Official Website | Samsung participates in US$152 million investment of Sky Mavis, developer of blockchain-based game Axie Infinity

Samsung backs blockchain-based gaming, invests in Axie Infinity

South Korean conglomerate Samsung is increasingly involved in the burgeoning world of blockchain-based gaming, while within Korea, games with blockchain elements are banned from official release in the country. Fast facts Samsung Next, the tech giant’s investment subsidiary, participated in a US$152 million Series B round of Sky Mavis, the Vietnam-based blockchain game company and […]
Satoshibles

Altcoin Stacks STX price surges 70% as crypto market slumps

While most of the market was down around 5% coming into the Asia trading day this morning, altcoin Stacks was up over 70% in 24 hours on Sunday night, according to data from CoinMarketCap, hitting a high of US$2.45 — the highest point the token had reached since the market-wide crash in May. The price has fallen […]
Market cap stablecoins

A look at how global stablecoin regulations are evolving

As international regulators seek to implement oversight, crypto industry players say it is a positive sign that regulators are now considering including stablecoins in banking regulations.
Sri Lanka forms panel to study blockchain and crypto regulation

Sri Lanka to study digital banking, blockchain and crypto mining regulation

Sri Lanka has formed a panel to recommend a regulatory framework covering the growth of digital banking, blockchain and cryptocurrency mining, the government has announced. Fast facts Developing an integrated system of digital banking, blockchain and cryptocurrency mining is crucial for Sri Lanka to keep up with its regional neighbors while expanding international trade, the […]
Shenzhen, China, Shenzhen has the most e-CNY pilot programs, Chinese state-owned media says

Shenzhen has the most e-CNY pilot program uses, Chinese state-owned media says

According to a Shenzhen state-owned newspaper, Shenzhen now has nearly 120,000 e-CNY pilot program application scenarios, ranking first in the country. Fast facts In October last year, Hong Kong’s neighboring city, Shenzhen, became the first e-CNY pilot city, which rolled out the first batch of 50,000 e-CNY red packets with a total value of 10 […]
PUBLISH CEO Sonny Kwon (left) and Journalists Association of Korea Chair Kim Dong-hun (right) | South Korean tech company partners journalist association to improve news ecosystem through blockchain

Blockchain technology to aid journalists in South Korea

A South Korean tech company is partnering with the largest organization of professional journalists in the country to develop digital tools and techniques to tackle problems in the journalism industry. Fast facts Media technology developer PUBLISH recently announced signing a memorandum of understanding (MOU) with the Journalists Association of Korea (JAK), which represents over 11,000 […]
Brisbane

Cryptocurrency now on the table for Aussie homebuyers

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 […]
crypto and cash, Is DeFi at war with traditional finance—and should TradFi be scared

Is DeFi at war with traditional finance, and should TradFi be scared?

Decentralized finance may look like it’s consuming TradFi, writes Will Hamilton of TCM Capital. But here’s why one won’t survive without the other.
BSN

China’s national blockchain network to expand to Turkey, Uzbekistan

China’s Blockchain-based Service Network (BSN) — a public-private nationwide infrastructure project to spur mass adoption of blockchain technology — is setting up more portals overseas, as it moves a step closer to more international exposure. Fast facts Red Date Technology, the company China tapped to manage its BSN, announced today that it is working to […]
Chainalysis boosts cybercrime-fighting ability with acquisition of Excygent

Chainalysis boosts cybercrime fighting power with acquisition of Excygent

The companies have a longstanding working relationship on virtual currency investigations with government agencies.
Jiangsu mining

China’s Jiangsu province works to wipe out covert crypto mining

China’s eastern province of Jiangsu today announced that it is cracking down on covert cryptocurrency mining activities, in response to the notice jointly issued two weeks ago by the National Development and Reform Commission (NDRC) and several other public security and information technology authorities. Fast facts The Jiangsu Communications Administration said it is strengthening its […]
K Pop Band BTS Visits "Today" Show

NFTs and the music industry: Flatten the learning curve | Part 3

Singers and musicians are embracing non-fungible tokens, but will their non-crypto active fans buy it?
Bitcoin

SEC approves next best thing to a Bitcoin ETF in the U.S.

Editor’s Note On October 8, 2021, a Forkast.News article was published with the inaccurate SEO headline “Bitcoin Futures ETF Approved By SEC.” One of our readers rightfully identified this mistake. We have made the correction, and we apologize. Serving the community is our top priority, and Forkast.News would like to thank @scottmelker for bringing it […]
187651822 2844005415913235 8290939673893953319 n

New Zealand exchange closes $12M funding round

New Zealand-based exchange Easy Crypto has closed a NZ$17 million (US$11.75 million) Series A funding round, in what may be the largest investment raised for a startup from the country. Fast facts Led by venture capital fund Nuance Connected Capital, Easy Crypto told Forkast.News the funding round was oversubscribed by 50%, helped along by participation […]
Bitcoin coins sticking out of a wallet | South Korean regulator says DeFi needs legal review

South Korea calls for legal review on DeFi businesses

As South Korea’s ongoing efforts at regulating cryptocurrency continues, a top financial services official said DeFi (decentralized finance) businesses need legal review before they are officially recognized as providers of financial services such as loan-for-consumption. Fast facts At the National Assembly’s annual review, lawmaker Oh Gi-hyoung, member of the National Policy Committee, asked Jeong Eun-bo, Korea’s Financial […]
Tether

Tether lashes out at report that claims it is not 100% backed

Tether is facing another round of scrutiny as the world’s number one stablecoin responds to a damning Bloomberg report published yesterday that claimed — among other things — that Tether is not fully backed as the company claims and is using its reserves to make crypto-backed loans. Fast facts In the article, reporter Zeke Faux […]
Dublin

Crypto exchange Binance looks to Ireland for regional HQ

Binance — the largest cryptocurrency exchange in the world — is looking at setting up regional headquarters in Ireland, according to Reuters. Fast facts “Historically, we claim that we don’t have headquarters. We are actually just in the process of establishing a few headquarters in different parts of the world,” Binance CEO Changpeng Zhao told […]
Ukraine flag, President of Ukraine returns cryptocurrency bill to parliament for modification

Ukrainian president seeks revision of cryptocurrency bill

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 […]
Healthcare and tech, How blockchain can unify healthcare and improve public health

How blockchain can unify healthcare and improve public health

Global healthcare data sharing suffers from lack of security, clear ownership, interoperability and accessibility. Can blockchain provide solutions?
crypto coin and cash, What are the biggest challenges for institutions that adopt crypto

What Powell’s ‘No intention to ban’ means for crypto

  Jerome Powell’s remarks on Sept. 30 following his testimony about the financial hardships of the pandemic caught the attention of crypto enthusiasts. Taking questions from the House Committee on Financial Services, Chairman Powell said the Federal Reserve would not seek a ban on crypto but reiterated that stablecoins should be regulated.  Bitcoin jumped by […]
Seven firms complete cross-jurisdiction testing of Travel Rule with Notabene

Crypto travel rule transactions tested between Abu Dhabi, Singapore

Notabene, a travel rule solution provider, this week announced that it has successfully completed travel rule test transactions between four Abu Dhabi Global Market (ADGM)-licensed firms and three crypto companies in Singapore. Fast facts In July, the Financial Action Task Force (FATF) — the global anti-money laundering (AML) and counter-financing of terrorism (CTF) standards-setter — […]
The picture of NFT concept, 2021 is a banner year for NFTs. Here’s what you need to know

2021 is a banner year for NFTs. Here’s what you need to know

The NFT boom is transforming the art world, writes Laura Ballman and Michael Greenwald. Collectors would be wise to learn all they can about this new technology.
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India gets second crypto unicorn within two months

India gets second crypto unicorn within two months

Indian crypto exchange CoinSwitch Kuber has become the country’s second crypto unicorn after raising US$260 million in a Series C funding round, the startup announced. Fast facts The latest funding round drew in marquee investors — it was led by Coinbase Ventures and Andreessen Horowitz (a16z). Existing investors Sequoia, Paradigm, Ribbit and Tiger Global also participated […]
Ripple XRP

Judge makes XRP holders ‘friends of court’ in SEC’s lawsuit against Ripple

A US court has denied XRP holders’ bid to join the SEC v. Ripple lawsuit as third-party defendants, but XRP advocates say being ‘amici curiae’ is still a win.
The National Assembly of South Korea | Korea to tax crypto from next year but not NFTs

South Korea will tax crypto but not NFTs

South Korea’s finance minister says that while income from virtual asset transactions will be taxed starting Jan. 1, 2022, NFTs (non-fungible tokens) are not to be taxed yet. Fast facts At the National Assembly’s annual review on Wednesday, Minister of Economy and Finance Hong Nam-ki said the government plans to start taxing virtual asset gains […]
SHIB

SHIB price surges, biggest gains since May

Outstripping the explosive growth of Dogecoin in the past week, copycat memecoin SHIB was up over 300% over the past four days this morning, briefly reaching a five-month high of US$0.00003436, according to CoinGecko. Fast facts Trading at US$0.00003079 at press time, this marks the second massive jump in the Shiba Inu coin’s price since […]
Monaco

U.S. crypto enforcement team to target cybercrime

Making the most of cybersecurity awareness month, which marks its 18th year this October, the U.S. Department of Justice has announced it is launching a national cryptocurrency enforcement team targeting cybercrime. Fast facts During a virtual speech at the Aspen Cyber Summit on Wednesday, Deputy Attorney General Lisa Monaco said: “Cryptocurrency exchanges want to be […]
ATO

Australian Tax Office warns: taxpayers on the hook for crypto tax earnings

Officials are concerned that many investors may not be aware crypto trading is taxed in a similar way to share trading.
UOB and ADDX

Singapore’s UOB and ADDX exchange partner on US$37 million sustainability-linked digital bond

Singapore’s United Overseas Bank (UOB) and digital securities exchange ADDX today announced the digitization of a S$50 million (US$37 million) sustainability-linked bond using blockchain and smart contract technology. Fast facts The bond allocation was part of a S$675 million (US$496 million) sustainability-linked bond issued on Sept. 29 by Singapore-based energy provider Sembcorp Industries, through its […]
Democratic National Convention: Day 1

How should the world tackle crypto criminals and digital dangers?

Top blockchain and crypto news: US leads charge in ramping up cybersecurity. Crypto fans crow as Facebook flops. China bears down on metaverses.
Ripple partners with Qatar's central bank to improve cross-border payments

Ripple partners with Qatar’s largest bank to improve cross-border payments

Blockchain payments company Ripple has partnered with Qatar National Bank (QNB) to improve cross-border payments and launch a new remittance platform, Ripple announced on Tuesday. Fast facts QNB will pilot RippleNet, a network of banks and other payment companies developed using Ripple’s technology, with QNB Finansbank in Turkey as part of a group rollout, the […]
National flag of Brazil, Brazil's legislators to establish a regulatory framework for cryptocurrencies.

Brazil seeks to make Bitcoin a legal ‘payment currency’

Brazil’s legislators are expected to discuss in the next few days a bill that seeks to establish a regulatory framework for cryptocurrencies, which may be a major step toward making Bitcoin a legal “payment currency” in the country if approved by the congress. Fast facts Bill 2.303/15, proposed by Federal Deputy Aureo Ribeiro, aims to […]
mining

Bitcoin mining difficulty rose to the hardest since June

Bitcoin miners saw another mining difficulty adjustment on Tuesday, with an increase of 4.71%, according to data from BTC.com. Fast facts The mining difficulty level is now at 19.89 trillion at block height 703,584, reflecting the most difficult level since a previous adjustment on June 14, the data show. The latest increase follows five increases after four […]
Kazakhstan flag

Kazakhstan, hotbed for crypto mining, mulls restrictions amid power shortages

Xive co-founder says its one mining farm in the south of the Central Asian nation has been forced to disconnect from the grid.
Upbit's official website | South Korean exchange Upbit accused of listing faulty tokens for commission profits

Top South Korean exchange accused of listing faulty tokens for fees

A lawmaker claims Upbit earned hundreds of millions by listing sketchy cryptocurrencies, while the exchange rebuts that it follows fair and strict standards.
Axie

Sky Mavis receives $3B valuation in funding round amid tumultuous period for Axie Infinity

Sky Mavis, the company behind leading non-fungible token game Axie Infinity, has raised US$152 million in a Series B funding round with a valuation of nearly US$3 billion, according to news outlet The Information. Fast facts Led by venture capital firm Andreessen Horowitz, Sky Mavis said it will use the funds to improve its blockchain […]
Bitcoin

Bitcoin price crosses $50K, but market dominance continues falling

This is the second time the world’s largest cryptocurrency has hit the mark in recent months. Does that mean this price point is here to stay?
Fifth largest U.S. Bank launches crypto custody services

U.S. Bank launches Bitcoin custody service as more banks enter crypto realm

U.S. Bank, the country’s fifth-largest retail bank, will now offer custody services for cryptocurrencies, starting with Bitcoin, the bank announced on Tuesday. New York Digital Investment Group, a fintech firm dedicated to Bitcoin, is the first crypto sub-custodian in the bank’s network of providers, the statement said. Fast facts The services are geared toward institutional […]
coins

Global bodies propose regulatory standards and greater oversight for stablecoins

The Bank for International Settlements (BIS) Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) today published a joint report proposing that international standards for payment, clearing and settlement systems should be applied to “systemically important stablecoin arrangements.” Fast facts The BIS, CPMI and IOSCO report comes amid the […]
SEC chair Gensler: A crypto ban would be up to Congress

SEC chair Gensler: No plans to ban crypto, says it’s ‘up to Congress’

The U.S. Securities and Exchange Commission has no plans to ban cryptocurrencies, chair Gary Gensler said during a congressional hearing on Tuesday. He added that any decision to ban crypto is “up to Congress.” Fast facts Gensler responded to Rep. Ted Budd’s question about whether the U.S. plans to ban crypto along the lines of […]

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