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MetaMask Institutional partners with crypto custodians BitGo, Qredo, Cactus Custody

MetaMask Institutional (MMI), the version of the MetaMask decentralized finance (DeFi) wallet for institutions, today announced its partnership with digital assets custodians U.S.-based BitGo, British Virgin Islands-headquartered Qredo, and Hong Kong-based Cactus Custody to facilitate companies seeking access to DeFi. Fast facts The partnership comes amid growing institutional interest in DeFi and aims to address […]
crypto coin and cash, What are the biggest challenges for institutions that adopt crypto

What are the biggest challenges for institutions that adopt crypto?

What does it mean to provide ‘institutional’ crypto services, and what role does blockchain technology play? Robert Cooper of Digivault explains.
Golden bitcoins and South Korea flag | Online petitioners oppose looming 20% tax on crypto gains

Petitioners oppose looming 20% crypto tax in South Korea

Crypto investors say virtual asset gains will be taxed on uneven grounds compared to stock capital gains.
TikTok announces high-profile entry into NFT market in New York Times

TikTok makes high-profile entry into NFT market with NY Times ad buy

TikTok, an app that is popular for making and sharing short videos, is jumping onto the non-fungible token (NFT) bandwagon. TikTok placed a full-page advertisement in the New York Times to promote its entry into that market. Fast facts The fast-growing social media platform, which has just surpassed 1 billion monthly users worldwide, announced plans […]
Axie Infinity

Axie Infinity revenue plunges, while AXS price breaks new ground

It’s been quite a run for the world’s leading play-to-earn game, but as its monthly revenue takes a hit, what’s in store for the future of the game?
Singapore city skyline

How Singapore is emerging as a safe harbor for the Chinese crypto industry exodus

As China intensifies its crypto crackdown, regulatory clarity is a beacon for safer shores in Southeast Asia.
Hong Kong city scape, What is Hong Kong’s future as a crypto industry hub

What is Hong Kong’s future as a crypto hub?

Hong Kong, a hotbed for crypto startups and exchanges, is at a crossroads, writes Jeremy Ng of Gemini. Here’s how the industry can better secure its future.
Hoi An

Central and Southeast Asia among fastest-growing regions in global crypto adoption: Chainalysis

Much of the growth in the region is driven by strong grassroots adoption rates led by Vietnam, India and Pakistan, new data from Chainalysis shows
bitcoin

Bitcoin funds lead 7th consecutive week of inflows: CoinShares data

Bitcoin investment products saw inflows of US$69 million last week amid improving investor sentiment, according to digital assets fund manager CoinShares. Fast facts “We believe this decisive turnaround in sentiment is due to growing confidence in the asset class amongst investors and more accommodative statements from the U.S. Securities [and] Exchange Commission and the Federal […]
Laos fiat, Laos cooperates with Japan blockchain startup Soramitsu for study on CBDC

Laos hires Tokyo blockchain startup to explore CBDC

Laos enlisted Soramitsu, a blockchain company headquartered in Tokyo, Japan, to explore a central-bank backed digital currency (CBDC). The Lao Central Bank and Soramitsu’s research will begin as early as this month. Fast facts The Central Bank of Laos reportedly has recently signed a memorandum with the Japan International Cooperation Agency to discuss the development […]
Hong Kong skyline

Hong Kong issues technical white paper on e-HKD

The Hong Kong Monetary Authority (HKMA) on Monday released a white paper proposing potential technical architecture and design for the infrastructure of a digital Hong Kong dollar. The paper is one of the deliverables described in Project e-HKD, a feasibility study the HKMA announced in June 2021. Fast facts Hong Kong began its exploration of […]
Travelers waiting in Chinese airport

Why domestic and overseas Chinese should worry about China’s crypto ban

In a special Q&A, a Canadian law advisor who works with Chinese clients breaks down the ban’s potential legal boundaries and concerns held by overseas Chinese.
The screenshot of

e-CNY wallet launched in China allows transfer via chat window

Chinese communications giant China Mobile and Industrial and Commercial Bank of China jointly released an e-CNY wallet based on the upgraded SMS service Message over 5G. The wallet allows users to transfer money, check balances, pay bills, and perform other functions through the chat window. Fast facts Message over 5G is an upgraded text message […]
A person handing another a yellow envelop | Amount of illegally transacted money using crypto breaks record high

Illegal foreign exchange transactions using crypto in South Korea break record, grow fortyfold

The country sees a rise in the amount of illegal currency transactions across the border while the use of virtual assets makes it almost impossible to track down.
Tether, a kind of stablecoin

What are stablecoins, and why are some governments so afraid of them?

Stablecoins combine the portability of crypto with the price stability of fiat currencies. But are they all that stable?
Compound Labs

Bug bites DeFi protocol Compound again

Technical woes continue to beset decentralized finance (DeFi) protocol Compound this week as a hack resulted in 202,472 COMP, or US$68 million at the time, being transferred from its reservoir to its Comptroller where the funds remain vulnerable to being drained by subsequent transactions. Fast facts Yearn.Finance developer Banteg tweeted about the hack late Sunday […]
HK dollar exchange of bitcoin

How will China’s new dictates affect Hong Kong’s future as a crypto hub?

Mainland China’s recent clampdowns on crypto are reverberating beyond its borders. In a special Q&A, former regulator and crypto industry leader Angelina Kwan discusses what this means for Hong Kong.
People riding a bike on a bridge in the Bahamas

Crypto on the beach: FTX and other players find paradise in the Caribbean

This week, FTX announced it is moving its headquarters from Hong Kong to the Bahamas, as the larger Caribbean region takes on a bigger role as host to virtual currency exchanges.
Singapore DBS Independent Reserve

Singapore grants crypto licenses to DBS and Australian exchange Independent Reserve

The Monetary Authority of Singapore (MAS) today granted licenses to DBS Vickers (DBSV), the brokerage arm of DBS Bank, and Independent Reserve, an Australian cryptocurrency exchange, to provide digital payment token services under the Payment Services Act (PS Act). Fast facts Formal approval from MAS, which follows its earlier “in-principal approval” granted to both companies […]
Bitcoin and other cryptocurrencies

Tech selloff positions Bitcoin as an inflation hedge

Markets on Tuesday in the U.S. were unsettled by the prospect that energy crises in Europe and China could lift inflation to new highs, compelling central banks to reverse accommodations sooner than expected. US Treasuries reacted with a fierce rise in yields and that spilled over to the equity markets.  Although the markets drove down […]
Sunset glow in Sanya, the capital city of Hainan province

Government-backed NFT art-trading market launched in China’s new duty-free port

The Hainan International Art Exchange Center on Wednesday launched an NFT art-trading platform that supports e-CNY payments, according to China News’ report. According to the staff of the center, the blockchain platform provides services for the purchase and sale of art between art institutions. Institutional traders will be able to tokenize physical artworks as NFTs […]
Logo of Gamevil | South Korean game developer Gamevil acquires large share of Coinone for blockchain game development

South Korean game developer, crypto exchange team up for next level gaming

Mobile game company Gamevil buys a large share of crypto platform Coinone, planning to develop blockchain-based gaming.
A crypto-trading hamster, Mr. Goxx, is outrunning Warren Buffet

A crypto-trading hamster is outrunning Warren Buffett

Although scarcely the size of a human palm, Mr. Goxx is earning big returns in the virtual currency market, raking in a 16% return as of Tuesday.
sina

After the crackdown: go underground, go along, or buy the dip?

Chinese social media has been abuzz since authorities lowered the boom on crypto. Forkast.News has been following the chatter. Here’s what they’re saying on Weibo, the Chinese equivalent of Twitter.
Tehran bourse CEO steps down after discovery of illegal crypto mining rig

Tehran bourse CEO steps down after discovery of illegal crypto mining in basement

Ali Sahraee, the CEO of Tehran Stock Exchange, has resigned after Iranian authorities recently busted an illegal crypto mining operation in the basement of the bourse building, according to a report by Iran’s state media. Fast facts The authorities discovered the illegal mining rigs during a sudden inspection. The operation was being run by several […]
dydx surges to new all time high

dYdX price surges 80% in a week to all-time high

dYdX, the governance token for the dYdX exchange protocol, surged to a new all-time high of US$27.86 today, according to CoinGecko data. Fast facts dYdX is a decentralized exchange (DEX) built on Ethereum that currently supports perpetual contracts, margin trading and spot cryptocurrency trading, as well as lending and borrowing. It is a non-custodial exchange […]
imToken

Following crypto ban, digital wallet imToken restricts some access for China users

Decentralized wallet imToken is restricting access to some of the services it offers for users in China, in the wake of the latest ban imposed by top Chinese authorities last Friday. Fast facts The company has restricted users in China from accessing and using third-party financial applications, including those from decentralized crypto exchanges, stake mining […]
Why China’s latest crypto ban is turbo-charging DeFi growth

Why China’s latest stomp on crypto is turbo-charging DeFi growth

DeFi tokens like dYdX soared after China’s latest move to throttle crypto. Is this a short-term spurt or decentralized finance shifting into high gear?
justice and law concept, Who in the world should worry about China’s new crypto ban?

Who in the world should worry about China’s new crypto ban?

As Chinese authorities take aim at crypto violations outside mainland borders, Forkast.News asks lawyers in the know: Who is in China’s line of fire?
Ripple launches $250M for creators building on XRP Ledger

Ripple launches $250M fund for NFT creators to build on XRP Ledger

Ripple, a San Francisco-based blockchain payments company currently embroiled in litigation against the U.S. Securities and Exchange Commission, has launched a US$250 million “creator fund” for content creators, brands and marketplaces to build non-fungible token (NFT) use cases on the XRP Ledger, according to a company blog post. Fast facts Ripple’s latest move to expand […]
Bitcoin on China's national flag, the crypto market is rebounding after China;s crackdown.

How China’s crypto clampdowns could reshape the rest of the world

Against the global tide of digital asset adoption, China’s harshest crypto ban yet heralds golden opportunities, writes Richard Byworth of EQONEX. Other governments should take note.
xi'an bell tower at dusk, Xi'an cabs pilot digital RMB as fare

Cabs in Chinese city Xi’an pilot digital RMB as fare

The Xi’an taxi industry and the Bank of Xi’an launched an e-CNY pilot program to accept e-CNY as fare, becoming the first city in China to accept digital renminbi as a taxi fare, a local newspaper reported. Fast facts Ten cabs selected as pilot vehicles have QR codes posted, and passengers can scan the QR […]
Golden bitcoins and South Korea flag | South Korea's NH Nonghyup Bank makes investment in crypto custodian Cardo

South Korean banks find workaround to cash in on crypto services

NH Nonghyup is the third bank in South Korea to invest in a virtual asset custody service while they are prohibited from running their own.
china crypto ban

Unmade in China: Beijing’s crypto cold war turns hot

Top blockchain and cryptocurrency news: Beijing’s crypto crusade comes to a head. Chinese mining caves in. Mr. Goxx reaps robust returns.
Hatten Land mall

Retail malls, move over. Crypto mining is in for Malaysia’s Hatten Land

Malaysian property developer Hatten Land has signed an agreement, through a subsidiary, with Singapore-based digital asset management company Frontier to share proceeds from jointly operating at least 1,000 cryptocurrency mining rigs within Hatten Land properties in Malaysia, according to a company statement released today. Fast facts Hatten Land has previously announced that it would repurpose […]
BeePool_Tiger Brokers

BeePool, Tiger Brokers among the latest to respond to China’s crypto ban

China’s stepped-up cryptocurrency ban continues to send shockwaves through the industry, as more crypto service providers are shutting their doors to users in China. BeePool and Tiger Brokers are among the latest to announce service suspensions. Fast facts China-based BeePool, the fourth-largest Ethereum mining pool in hashrate, said Tuesday that it has stopped registering new […]
CFTC levies US$1.25M fine on crypto exchange Kraken for illegal offerings

CFTC slaps $1.25M fine on crypto exchange Kraken for illegal offerings

The U.S. Commodity Futures Trading Commission has slapped a US$1.25 million fine on Kraken, one of the largest cryptocurrency exchanges in the U.S., for Commodity Exchange Act (CEA) violations, the CFTC announced yesterday. Fast facts The CFTC, in its settlement with Payward Ventures Inc., the San Francisco-based company doing business under the name Kraken, said […]
National flag of Nigeria, developing countries are pushing CBDC projects

CBDC plans advance in Nigeria, Chile, Tajikistan

Nigeria, Chile and Tajikistan have taken major steps in their plans for central bank digital currencies (CBDCs), while mainland China, Hong Kong, Thailand and the United Arab Emirates explore the potential for CBDCs in cross-border payments. Fast facts The Central Bank of Nigeria (CBN) has launched a website for eNaira, the country’s CBDC, which will […]
Fetch.ai and Algbra

Fetch.ai, Algbra partner to bring AI-driven DeFi services to minority communities

Fetch.ai, an artificial intelligence lab based in the British city of Cambridge, today announced its partnership with Algbra, a London-based fintech platform, to bring artificial intelligence (AI) and machine learning to decentralized finance (DeFi) and the banking sector to provide minority communities with greater access to financial services. Fast facts According to a statement shared […]
Ant Group, Tencent

Ant Group and Tencent obtain the most blockchain patents in China: report

China saw a fivefold increase in blockchain patents last year despite the Covid-19 shutdown.
and
BSN

China’s BSN to set up foundation in Singapore to fuel international expansion

China’s Blockchain-based Service Network (BSN) — a public-private nationwide infrastructure project to spur mass adoption of blockchain technology — is moving a step closer to more international exposure, as the company behind it is working to register a foundation based in Singapore. Fast facts Red Date Technology, the company China tapped to manage its BSN, […]
US dollar and chinese yuan,How central banks are wielding blockchain in soft power competition

How central banks are wielding blockchain in soft power competition

China’s crypto ban is part of a global battle over freedom and ideology, writes Michael B. Greenwald. How can the US lead the world in a different path?
Mining

Crypto mining players continue to flee China as latest ban kicks in

China’s earlier efforts to eradicate mining may not have been as effective as the government had hoped, but Friday’s announcement is having an impact.
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Chinese banknote and Bitcoin, Why did China throw down more crypto bans when it did

The curious timing behind China’s thunder and lightning at crypto

China assaulted crypto with a new ferocity just as Bitcoin options expired and Evergrande escaped death. Coincidence? Ben Caselin of AAX lays out the clues.
trading cryptocurrencies bitcoin ethereum

Crypto funds see 6th consecutive week of inflows led by Bitcoin: CoinShares data

Cryptocurrency investment products saw inflows of US$95 million last week, with total inflows over the past six weeks of US$320 million, according to digital assets fund manager CoinShares. Fast facts “The continued inflows suggest the recent headwinds for digital assets, such as the widened China ban, were seen as buying opportunities for investors,” wrote CoinShares […]
Input Output HK CEO Charles Hoskinson giving the keynote speech at the Cardano Summit

IOHK has big plans for Cardano, including Dish, Chainlink partnerships

At the Cardano Summit over the weekend, IOHK founder Charles Hoskinson revealed a slew of partnerships and other developments for the Cardano blockchain
Singapore securities exchange ADDX tokenizes Partner Group's global private equity fund

Singapore securities exchange ADDX tokenizes Partners Group global private equity fund

Singapore-based digital securities exchange ADDX today announced it had tokenized an allocation to a global private equity fund by Partners Group, a private equity firm listed on the SIX Swiss Exchange. Fast facts The allocation from the Partners Group Global Value SICAV Fund is the first from a major private equity firm that has been tokenized, […]
Binance Singapore

Binance to restrict Singapore users from buying crypto and spot trading on Binance.com

Amid growing regulatory heat, Binance — the world’s largest cryptocurrency exchange by trading volume — will restrict users in Singapore from buying cryptocurrencies using fiat, spot trading and liquid swaps on its main Binance.com platform starting Oct. 26, according to a company announcement. Fast facts Binance is advising Binance.com users in Singapore to cease all […]
South Korea flag waving against cloudy sky | Damage to crypto market limited in South Korea despite mass closure of exchanges

Damage to South Korean crypto market limited despite mass closure, regulator says

South Korea’s virtual asset industry is expected to withstand major regulatory reconstruction
XinFin’s XDC Network and Tradeteq

XinFin’s XDC Network and Tradeteq partner on NFTs for trade finance

Singapore-based blockchain protocol eXchange inFinite (XinFin) and trade finance distribution platform Tradeteq today announced their partnership to tokenize trade finance assets into non-fungible tokens (NFTs), according to a company statement shared with Forkast.News. Fast facts Atul Khekade, co-founder of XinFin, told Forkast.News in an interview that traditional trade finance assets that are typically paper-based such […]
Doors in Beijing, China

Chinese crypto exchange Huobi looks to the world as China shuts the door on crypto

Huobi’s diversified businesses outside of China reached nearly 70% in terms of trading volumes, and have been on the rise, its co-founder tells Forkast.News.
China

Industry players scramble, evaluate options as China bans all crypto transactions

China’s intensified crackdown on cryptocurrency leaves service providers looking to stay compliant with Friday’s abrupt announcement.
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Report: Indian crypto industry will grow over 200% to reach US$241M by 2030

Ban or no ban, Indian crypto industry is thriving

India’s crypto industry will grow over 200% to reach $241M by 2030, a new study says.
China Flag with cracked bitcoin icon, Key things to know about China’s latest crypto ban

China’s crypto ban: what you need to know

How is China’s latest clampdown on crypto different from its previous bans — and how do authorities plan to catch the scofflaws? Henri Arslanian of PwC breaks it down.
Crypto markets shrug off China’s latest ban

Crypto markets shrug off China’s latest saber-rattling

Is China’s influence over Bitcoin and the global crypto market waning? Chinese exchanges get a thrashing as decentralized exchanges get happy on clampdown news.
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Bitcoin in front of Chinese flag, China's crackdown on cryptocurrencies intensifies

What does China’s crypto ban really mean? Insights from the ground

China’s hardline stance against crypto is already rippling beyond its borders. A mainland crypto insider explains the global shakeup yet to come.
Latest Consumer Technology Products On Display At Annual CES In Las Vegas

Why DeFi holds the key to metaverse success

A profound shift is underway in online culture, writes Anndy Lian of BigOne Exchange. Here’s how decentralized finance might one day power the NFT and metaverse economy.
Lagos Nigeria

Chinese blockchain Conflux partners with GIGXPAD to tokenize real-world assets in Africa

GIGXPAD, a decentralized finance (DeFi) project based in Africa, is partnering with public blockchain network Conflux to tokenize real-world assets, according to a company statement shared with Forkast.News. Fast facts The collaboration, which marks the Chinese blockchain Conflux’s first use case in Africa, will see GIGXPAD deploying a decentralized crowdfunding platform on Conflux. According to […]
Scenery spot of Zhejiang, A city of Zhejiang province announced to adopt Blockchain for tracking carbon emissions Province,

Chinese city adopts blockchain to track carbon emissions

Huzhou City in Zhejiang, a province in eastern China, announced the launch of a blockchain to track and record carbon emissions records. Fast facts The blockchain was built by Beijing Zhongdian Puhua Information Technology Co., Ltd., a subsidiary of State Grid. The data will be provided to third-party carbon accounting agencies, governments, and individuals for […]
The9

The9 teams up with Polygon and Protocol Labs on new NFT platform, game projects

The9 Ltd., a Chinese gaming company that pivoted earlier this year to cryptocurrency mining — along with Polygon and Protocol Labs — are forming an ecosystem collaboration on The9’s non-fungible token (NFT) platform NFTSTAR and GameFi play-to-earn projects. Fast facts The company said in a statement released on Thursday that NFTSTAR and The9’s GameFi projects will […]
South Korea flag waving against cloudy sky | Doomsday for South Korean exchanges as they meet deadline for compliance with new regulations

Fewer South Korean crypto exchanges remain in business under new industry regulations

Around 35 virtual asset exchanges will vanish as of midnight Friday, as the country imposes new rules designed to protect consumers.
China

Crypto market is shaken as China declares all crypto transactions illegal

Bitcoin and Ethereum prices fall after Beijing intensifies crackdown on crypto trading, mining.
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mining

BIT Mining invests in crypto site in Ohio to expand U.S. operation

The cryptocurrency mining industry is attracting more investment money. Hong Kong-headquartered crypto miner BIT Mining said it had entered into an agreement to jointly invest in a crypto mining data center in the U.S. state of Ohio, with access to power capacity of up to 85 megawatts. Fast facts The development of the Ohio mining […]
RMB USD

Digital yuan could come to overseas users to challenge dollar dominance: policy bank expert

China may be a small step closer to internationalizing the yuan, though its central bank says the e-CNY is now mostly tested for domestic use.
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Sushiswap developer rejects claims of US$1B vulnerability

SushiSwap developer rejects claims of billion-dollar bug

SushiSwap, a Japanese decentralized exchange, has dismissed the claims of a white hat hacker who says two contracts on the exchange have a vulnerability that puts US$1 billion worth of user assets at risk. Fast facts An anonymous white hat hacker published a report on Thursday claiming there is a loophole in the emergency withdrawal […]
Sourtheast Asia flags, How Southeast Asia flowered into a global crypto hub

How Southeast Asia flowered into a global crypto hub

Until recently, most Southeast Asians had no internet. Now the region is abloom with blockchain innovation. How did they do it?
Plutus dAppStore coming to Cardano

Cardano to host storefront for developers to upload their DApps

With the Cardano blockchain now supporting smart contract capabilities, developers will soon be able to upload their decentralized applications (DApps) and make them available to others through a Plutus dAppStore, according to a blog post by Input Output HK (IOHK) ahead of the Cardano Summit taking place this weekend. Fast facts “The store will provide […]
Umbrella Network, a decentralized oracle, has acquired Lucidity, a blockchain-based advertising and analytics platform, to bring more transparency to advertisers.

Umbrella Network acquires platform for transparency in digital media buying

Umbrella Network, a decentralized oracle, has acquired Lucidity, a blockchain-based advertising and analytics platform, to bring more data transparency to advertisers, according to a company statement. Fast facts The acquisition was completed in August 2021 for an undisclosed amount, according to the company statement. Lucidity will be integrated with Umbrella Network as part of the […]
Blockchain technologies used by the top 100 public companies

81 of top 100 companies use blockchain technology, Blockdata research shows

Survey shows growing consensus on adoption, investment and use cases. ‘Blockchain is here to stay.’
Amber Group

Crypto unicorn Amber Group eyes listing in U.S. despite lack of regulatory clarity

Amber Group, a Hong Kong-based crypto financial services company, is eyeing a direct listing in the U.S. within the next two years, Amber Group co-founder and CEO Michael Wu told the South China Morning Post in an interview. Fast facts Founded in 2017, Amber Group propelled to unicorn status this year following its US$100 million Series […]
NFT startup Dapper Labs raised US$250 million this week

As big investors pour $930M into 2 NFT startups, what do the tea leaves say for the rest?

Marquee investors like Softbank and Andreessen Horowitz are heaping love on Sorare and Dapper Labs. What does this mean for the future of the non-fungible tokens sector?
Dubai panorama at sunset, UAE

UAE regulators to allow crypto-assets trading

The United Arab Emirates Securities and Commodities Authority (SCA) and Dubai World Trade Centre Authority (DWTCA) have signed an agreement to support crypto-assets trading and related financial activities in the DWTCA free zone. Fast facts The agreement allows the DWTCA to issue approvals and licenses for financial activities related to crypto assets and the SCA […]

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