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Bitcoin mining rig maker Canaan to open service center in Kazakhstan
Canaan, one of the largest crypto mining rig makers in the world, is opening its first-ever service center outside China—in Kazakhstan.

Ripple accuses SEC of ‘noncompliance’ in sharing XRP, Bitcoin and Ether communications
Ripple is also asking court to order SEC to reveal the agency’s internal employee policies on trading cryptocurrencies and other digital assets.

CoinShares lists Bitcoin, Ethereum and Litecoin ETPs on Germany’s Börse Xetra
CoinShares has announced that its Bitcoin, Ethereum and Litecoin physically-backed exchange traded products have cross-listed on Germany’s Börse Xetra exchange.

Binance launching NFT platform with ‘100 Creators’ campaign
Binance today announced a “100 creators” campaign featuring creative talents from around the world as part of the launch of its non-fungible token marketplace on June 24.

Smartphone giant Huawei doubles down on blockchain technology
Following blockchain’s mention as a next-wave technology in China’s five-year plan, Huawei unveils applications for government and in-house services.

El Salvador poised to adopt Bitcoin as legal tender
El Salvador is proposing a bill to adopt Bitcoin as legal tender in the Central American nation. In a videotaped announcement shown at the Bitcoin 2021 Conference in Miami, President Nayib Bukele said he would submit the bill this week.

South Korean crypto exchange executives face ban from own platforms
South Korea’s Financial Services Commission has announced plans to ban executive employees and exchange operators from trading on their own platforms, prompting a chorus of complaints. Fast Facts: The FSC’s Financial Intelligence Unit recently met with officials from cryptocurrency exchanges to explain upcoming amendments to the Act on Reporting and Use of Certain Financial Transaction Information, […]

NortonLifeLock bids to turn users into home Ethereum miners
Users of cybersecurity product NortonLifeLock will soon be able to mine Ethereum on their home computers through a new feature named Norton Crypto.

Shanghai in US$3M e-CNY windfall ahead of Dragon Boat holiday
Following a digital yuan giveaway announced for Beijing last week, Shanghai will distribute 350,000 red envelopes to people across the city during next week’s Dragon Boat Festival.

Crypto mining rig maker Goldshell to launch ‘mine-at-home’ kits in Asia
Crypto mining equipment manufacturer Goldshell has announced that it will launch a new line of mining rigs designed specifically for home use in Asian markets.

Weibo blocks crypto accounts as Chinese clampdown continues
Microblog platform Weibo has blocked more than 30 influential Chinese cryptocurrency-related accounts amid a series of actions by Beijing against crypto mining and trading.

Australia’s first Bitcoin capital growth fund gaining interest
Australia’s first capital growth fund to offer institutional exposure to BTC has announced its received inquiries from some of the country’s largest companies.

What blockchain games like Alien Worlds say about life outside metaverses
In a special Q&A, Sarojini McKenna of Alien Worlds discusses play-to-earn gaming, digital assets like Trilium, and lives increasingly lived inside virtual worlds.

Luno crypto exchange looks to expand into Indonesia and SE Asia
Global crypto exchange Luno is in talks with conglomerate Lippo Group to launch operations in Indonesia in order to enter the Southeast Asian market.

How serious is the threat of Bitcoin mining to the environment?
Is Bitcoin’s carbon footprint a growing risk to Earth, or is it a red herring? On this year’s United Nations World Environment Day, crypto mining is a hot topic.

Prominent Chinese economist urges public to ‘avoid confusion’ between digital currency and cryptocurrencies
It is important to distinguish between developing a digital currency for currency digitalization and digitalization of assets or cryptocurrencies so that China can be more focused on preventing risks in the financial sector, said Fan Gang, a Peking University professor and a prominent advocate in China for economic reform. Fast Facts: In a keynote speech […]

Regulators in Hainan warn of illegal crypto fundraising schemes
Regulators Hainan province have issued a warning against illegal fundraising schemes using crypto or blockchain..

South Korea will tax overseas crypto assets starting next year
S. Korea residents with accounts in foreign crypto exchanges may have to report their crypto holdings starting in 2022. Above what amount is taxable?

UK watchdog: Crypto firms fall short on anti-money laundering rules
Many of Britain’s crypto firms are failing to meet required anti-money laundering and counter-terrorism financing laws, says the country’s watchdog.

BitFlyer to launch Bitcoin-Japanese yen pair for U.S. traders
BitFlyer announced today that it is launching a Bitcoin-to-Japanese yen pair for currency traders in the U.S.

NFT sales slump amid May crypto crash
The market for non-fungible tokens took a beating in May amid turmoil in the cryptocurrency sector, according to industry data.

Ripple execs seek info to defend XRP trades from 16 foreign crypto exchanges
To defend themselves against SEC lawsuit, Ripple’s CEO and chairman ask court for help getting XRP info from a who’s who list of offshore crypto exchanges.

DBS Bank tapping on tokenized bonds as a new way to invest
From digital bonds to real estate, blockchain-enabled security token offerings and tokenization are redefining corporate fundraising and investing.

South Korean crypto exchange Upbit in the dock over botched transfers
Eleven users of Upbit have filed a class action lawsuit against its owner, Dunamu Inc., seeking damages over a suspected technical failure.

Ethereum is rocketing out of this world with SpaceX and SpaceChain
Can Ethereum, also known as the ‘World Computer,’ function outside this world — in space? A SpaceX rocket launch today will put that to the test.

Google to lift ban on ads for crypto wallets, exchanges
Google has announced plans to lift a ban on advertising cryptocurrency wallets and exchanges that has been in place for almost three years. A ban on advertising initial coin offerings will remain, however. Fast Facts: An advertising policy update on the company’s main webpage states that advertisers of crypto wallets and exchanges targeting the US […]

Standard Chartered, BC Group to launch digital asset trading platform
Standard Chartered and BC Group to launch digital asset trading platform for corporate and institutional clients in Europe and the UK.

Bitcoin mining rig maker Canaan reports huge jump in overseas sales
Chinese Bitcoin mining hardware maker Canaan says overseas sales accounted for almost four-fifths of its revenue during the first quarter of 2021.

‘Green’ crypto mining should be spared crackdown, Canaan chief says
Green crypto mining operations should be spared China’s recent crackdown on the sector, according to the CEO of Canaan Inc.

Cardano and Nervos to launch cross-chain bridge
Input Output Hong Kong and Nervos announced today that they will be launching a cross-chain bridge to connect the two networks.

Is India’s central bank greenlighting crypto? Bitcoin fees fall to new lows. Cardano rolls out Alonzo upgrade for DeFi.
Other top blockchain and crypto news: Thailand’s SEC tries to rein in DeFi via regulation. Will China’s future DCEP digital yuan offer smart contracts?

WazirX launches India’s first NFT marketplace
WazirX launched the country’s first NFT marketplace on Tuesday, featuring artists from India and other South Asian nations.

China to give away digital yuan worth US$6.3M in latest e-CNY test
China is set to hand out 200,000 virtual red envelopes, each containing 200 yuan (US$31.30) of the country’s prototype digital currency, to Beijing residents.

Cryptocurrency behind spike in illegal gambling, Asian racing body says
Illegal gambling in Asia is on the rise, facilitated in part by sites accepting bets in cryptocurrency.

Dogecoin to list on Coinbase Pro
Dogecoin has gained an additional measure of credibility, with crypto exchange Coinbase announcing that it will add DOGE to its professional trading platform.

Ethereum investment products hit market-share high of 27%, report says
Ethereum has hit a market-share high of 27% of all digital asset investment fund products following recent price corrections.

Australian Tax Office issues reminder of cryptocurrency tax obligations
ATO will contact 400,000 Australian crypto holders over concerns that they may not be fully aware of their crypto tax obligations. Tax cheats beware!

What’s up with Taproot, the biggest proposed change to Bitcoin since 2017?
Bitcoin’s proposed Taproot update for smart contracts and privacy has wide verbal support from miners, but will they put their crypto where their mouth is?

S. Korean banks process US$57B linked to crypto exchanges
South Korean banks processed over 64 trillion won (US$57 billion) of deposits and withdrawals linked to crypto exchanges in the first quarter.

Robinhood’s Chinese rivals to launch crypto services abroad
China-based trading apps Futu and Tiger Brokers have announced plans to move into crypto to compete outside China with apps such as Robinhood and eToro.

Financial Stability Board seeks faster, cheaper cross-border payments
The Financial Stability Board has launched a public consultation on global targets for cross-border payments.

How blockchain technology is revolutionizing KYC in financial services
‘Know your customer’ is key to anti-money laundering efforts. Isabelle Corbett of R3 explains why blockchain is uniquely suited for KYC/AML.

Thailand’s DeFi sector targeted for regulation over coin offerings
Thailand’s Securities regulator has announced that digital tokens issued and offered for transactions must have its approval.

Bitcoin suffers second-biggest monthly price drop in May
Bitcoin dropped by 37.5% in May after hitting a low of US$34,195 yesterday, the second-largest drop on record after it fell 40% in September 2011.

Singapore’s DBS Bank launches its first digital bond
Singapore’s DBS Bank has announced its first security token offering on the DBS Digital Exchange.

Indian central bank in climbdown over crypto ban
India’s central bank has said that banks and other finance sector businesses should not adhere to a prohibition it imposed on lenders dealing in cryptocurrencies.

Gold vs. Bitcoin: Which one is better as a safe-haven asset?
Gold prices are rising again and at a three-month high. How does gold — a store of value for over 2,500 years — compare to Bitcoin as a refuge from market turmoil?

Privacy coin Monero surges as US and Australia target crypto gains
Privacy-centric coins like Monero, ZCash and Dash are seeing big price rises as the IRS and ATO issue warnings on taxable crypto transactions.

South Korean finance watchdog set to take over crypto regulation
South Korea is in the process of tasking a branch of the Financial Services Commission with regulating cryptocurrency exchanges.

Digital yuan is not a surveillance tool, says Chinese ex-central bank director
Former People’s Bank of China Director Yao Qian says that the country’s digital yuan is not a surveillance tool for the government.

Chinese crypto traders dodge clampdown in move to OTC, P2P platforms
Since Beijing’s announcement of tighter restrictions on cryptocurrency trading earlier this month, investors have found a workaround in over-the-counter and peer-to-peer transactions.

Cardano rebounds 15% as Alonzo smart contact testnet launches
Following the launch of Cardano’s first testnet for its smart contract platform, Alonzo, ADA’s price rebounded by 15% on Monday morning to reach US$1.65.

Bitcoin mining difficulty drops 16% amid Chinese regulatory headwinds
The latest Bitcoin mining difficulty adjustment, made at 1 a.m. UTC on May 30, saw the difficulty of Bitcoin mining drop 15.97%.

Ripple’s XRP communications off-limits to U.S. securities regulator, court rules
The U.S. Securities and Exchange Commission has failed in a bid to gain access to any legal communications Ripple Labs sought or received as to whether sales of XRP were subject to federal securities law.

Indian lenders cling to overturned central bank crypto ban as customers fume
Banks in India, including some of the country’s largest lenders, are notifying their customers not to engage in cryptocurrencies, adhering to a central bank rule from 2018 that bans them from dealing in cryptos — despite the fact the ban was overturned by the Supreme Court more than a year ago.

Turkey’s crypto clampdown underwhelms as investors claim ‘business as usual’
Turkish regulators have tightened their grip on cryptocurrencies, but small traders and investors appear to have barely noticed.

Are 73 SEC actions against crypto enough warning to Ripple about XRP?
SEC says Ripple had plenty of ‘notice’ that XRP transactions could be violating the law via its many enforcement actions against other crypto companies.

Cardano launches first Alonzo smart-contract testnet
Input Output Hong Kong, one of the companies behind the Cardano blockchain, today announced the launch of the first testnet for Cardano’s Alonzo upgrade.

Bridging the DeFi data gap with indexing blockchain data
Blockchain technology has massive data requirements, but the data can be difficult and costly to access. What are some of the solutions?

Huge cryptocurrency scam boosts S. Korea’s crypto crime losses to US$5B
Police in South Korea have arrested 14 individuals in a cryptocurrency fraud case estimated to have cost 69,000 investors a total of US$3.85 billion, taking the country’s losses to US$5 billion over the past five years.

Crypto sector faces tougher enforcement over sanctions-busting, report says
Sanctions enforcement affecting the cryptocurrency industry has intensified rapidly in the past two years, according to a new report by crypto compliance consultancy Elliptic.

Hong Kong crypto exchanges seek to wash hands of dirty power problem
Hong Kong-based cryptocurrency exchange Crypto.com has announced that it is committed to becoming carbon-negative within 18 months, following carbon-neutral initiatives launched by other Hong Kong-based cryptocurrency exchanges FTX and BitMEX.

Chinese province’s hydropower gives hope to crypto miners following crackdown elsewhere
Energy regulators in the southwestern Chinese province of Sichuan, which has abundant hydropower resources, will hold a seminar on June 2 to assess the province’s cryptocurrency mining industry, fanning hopes among miners that the beleaguered sector may be given a reprieve from its recent hardships in China.

U.S. securities watchdog looks to regulate crypto trading like stock exchanges
Gary Gensler, chairman of the U.S. Securities and Exchange Commission, has said he wants to see regulation to protect consumers built into the operations of cryptocurrency exchanges.

Almost four in ten consumers have bought cryptocurrencies, study finds
Consumer adoption of cryptocurrencies has grown, with 38% of respondents to a survey saying they have either invested in or bought a cryptocurrency, according to digital wallet provider Skrill, part of payments provider Paysafe.

Will China become the new digital currency superpower?
The U.S. dollar reigns supreme as the current world reserve currency. Could the USD’s status change with the rise of CBDCs like China’s DCEP digital yuan?

Tokenization to transform financial system, DBS Bank CEO says
The power of tokenization can fundamentally transform the fabric of the financial system, Singapore’s DBS Bank CEO Piyush Gupta told the Consensus by CoinDesk 2021 conference taking place this week.

How Ripple found new ways to grow XRP business despite SEC lawsuit
Ripple’s CEO Brad Garlinghouse says Ripple was hit hard financially after SEC filed its lawsuit, but the company is now expanding uses for XRP’s technology.

Asia-Pacific fintech investment more than doubles in first quarter
Fintech companies in Asia-Pacific pulled in US$2.35 billion in investment during the first three months of 2021, more than the total amount raised in the first half of the previous year.

Hong Kong treasury chief says new rules will boost crypto despite investment threshold
A proper regulatory system for cryptocurrencies and virtual assets can facilitate development, protect investors, and adhere to international regulatory standards, says treasury chief Christopher Hui

Vitalik Buterin speaks: What lies in the future of Ethereum?
Breaking into occasional Mandarin at a Hong Kong conference, Ethereum’s visionary creator tells all — including why Ethereum 2.0 is taking so long.

Crypto miner BitDeer blocks China users as Beijing gets tough on sector
BitDeer, one of China’s biggest crypto mining operators, blocked access to anyone using a mainland Chinese IP address last night.