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![Indian court seeks standardized disclaimers on crypto ads 1 High Court of Delhi seeking for standardized disclaimer on crypto ads](https://forkast.news/wp-content/uploads/2021/07/High-Court-of-Delhi.jpeg)
Indian court seeks standardized disclaimers on crypto ads
The Delhi High Court has sent a notice to government agencies and crypto exchanges to seek guidelines on crypto-related advertising on national television. Fast facts The division bench of Justice D.N. Patel and Justice Jyoti Singh sought responses from the Ministry of Information and Broadcasting, the Securities and Exchange Board of India and crypto exchanges […]
![Euro CBDC looks to leave energy-intensive Bitcoin in its digital dust 2 The European Central Bank building](https://forkast.news/wp-content/uploads/2021/07/the-European-Central-Bank-ECB-1260x838.jpg)
Euro CBDC looks to leave energy-intensive Bitcoin in its digital dust
The European Central Bank has launched a two-year project to prepare for the potential issuance of a digital euro. The central bank digital currency would be supported by an underlying architecture with a negligible environmental impact compared to Bitcoin’s hugely energy-intensive blockchain. Fast facts The ECB has begun the investigation phase of a digital euro […]
![Visa to launch first Bitcoin-linked card in Australia 3 Visa](https://forkast.news/wp-content/uploads/2021/07/FF_Visa-1260x760.jpg)
Visa to launch first Bitcoin-linked card in Australia
Australians will soon be able to use Visa cards to spend their Bitcoin holdings for the first time as the global payment giant is partnering with local fintech app CryptoSpend, the Australian Financial Review reports. Fast facts CryptoSpend allows payments to be made in several cryptocurrencies to any account in the Australian banking system, crediting […]
![Polkadot chain Phala Network's Khala wins 4th Kusama parachain slot 4 Phala Khala Network Kusama Polkadot](https://forkast.news/wp-content/uploads/2021/07/Phala-Khala-Network-Kusama-Polkadot-1260x709.jpg)
Polkadot chain Phala Network’s Khala wins 4th Kusama parachain slot
Privacy-focused cloud computing project Phala Network’s “canary network” Khala this week won the fourth Kusama parachain slot auction with 132,280 Kusama (KSM) contributed by 2,759 addresses. A canary network is an experimental environment for blockchain developers to build and test out their code as well as products and services. Fast facts Phala Network is designed […]
![U.S. basketball player's game-worn shoes go on sale as NFT 5 Spencer Dinwiddie](https://forkast.news/wp-content/uploads/2021/07/FF_Dinwiddie-1260x798.jpg)
U.S. basketball player’s game-worn shoes go on sale as NFT
Ever wanted to own a piece of game-worn NBA merchandise, but without that well-worn fragrance? Now you can. Brooklyn Nets star Spencer Dinwiddie is selling a pair of shoes he has worn in-game as a non-fungible token, Forkast.News has learned. Fast facts The shoes on auction are from Dinwiddie’s K8IROS clothing range, and all proceeds […]
![Grayscale’s Bitcoin bounty. Circle’s SPAC listing controversy. NFTs for thieves. 6 Grayscale BTC](https://forkast.news/wp-content/uploads/2021/07/Grayscale-BTC.png)
Grayscale’s Bitcoin bounty. Circle’s SPAC listing controversy. NFTs for thieves.
Top blockchain and crypto news: Crypto markets await Bitcoin fund release. USDC issuer opts for the back door. In China, NFT copyrights and wrongs.
![New crypto mining firms in China now in scramble to leave 7 Golden bitcoin in front of Chinese flag, now crypto miners are scrambling to leave](https://forkast.news/wp-content/uploads/2021/07/golden-bitcoins-and-chinese-flag-PLNTQRU-1260x840.jpg)
New crypto mining firms in China now in scramble to leave
The9 and BIT Mining — non-crypto firms that pivoted to crypto mining during Bitcoin’s boom — now seek to ‘expand’ overseas.
![Chinese viral news photo debacle shakes confidence in NFTs 8 NFT theft](https://forkast.news/wp-content/uploads/2021/07/螢幕快照-2021-07-14-下午7.58.17.png)
Chinese viral news photo debacle shakes confidence in NFTs
Proliferation of copycat non-fungible tokens based on media image sparks fresh concerns over authenticity, creators’ rights.
![Turkey tells crypto firms to hand controllers' info to tax office 9 Landscape of Istanbul, turkey, where the cryptocurrecy flourishing](https://forkast.news/wp-content/uploads/2021/07/panorama-of-istanbul-turkey-2021-04-02-20-11-56-utc-1260x424.jpg)
Turkey tells crypto firms to hand controllers’ info to tax office
Turkey’s tax authorities have told companies with cryptocurrency-related business to report information on their ultimate controllers as a part of their tax filings. Fast facts An official document states that the requirement is part of meeting Organisation for Economic Co-operation and Development guidelines on tax transparency. Crypto companies must submit their first filings by Aug. 31 […]
![C.R.E.A.M. Finance’s Iron Bank and PleasrDAO execute $3.5M loan with NFTs as collateral 10 pplpleasr](https://forkast.news/wp-content/uploads/2021/07/pplpleasr-1260x709.jpg)
C.R.E.A.M. Finance’s Iron Bank and PleasrDAO execute $3.5M loan with NFTs as collateral
C.R.E.A.M. Finance’s Iron Bank today announced that it has facilitated a US$3.5 million loan with cypto art collective PleasrDAO using high-value non-fungible tokens as collateral, according to an announcement shared with Forkast.News. Fast facts Taipei-based C.R.E.A.M. Finance, part of the Yearn finance ecosystem, is a decentralized lending protocol for individuals, institutions and protocols to access […]
![India’s ICICI bank blocks foreign crypto remittances 11 india crypto3](https://forkast.news/wp-content/uploads/2020/07/india-crypto3.jpg)
India’s ICICI bank blocks foreign crypto remittances
ICICI bank, one of India’s largest lenders, has warned its customers against using its international remittance services for transferring any form of cryptocurrency, the Bharat Express reports. Fast facts The Industrial Credit and Investment Corporation of India recently made an amendment to an international remittance form compelling customers to declare: “The above remittance is NOT […]
![Singapore's Temasek posts record returns, continues investing in blockchain and AI 12 Temasek and Affinidi representatives Nicholas Foo (leftmost) and Gina Chiang (middle) engaging SATS staff on the Affinidi Unifier app, ahead of roll-out by airlines onboarded by Changi Airport Group](https://forkast.news/wp-content/uploads/2021/07/Temasek-Affinidi-1260x709.jpg)
Singapore’s Temasek posts record returns, continues investing in blockchain and AI
Singapore state-owned investment firm Temasek has announced record returns of S$381 billion (US$283 billion) for the financial year ending March 2021, up 24.5% from the year before. Fast facts According to its latest annual review, Temasek is “increasingly shaping” its portfolio in line with four trends: digitization, sustainable living, future of consumption, and longer lifespans. […]
![S&P Dow Jones launches 5 new crypto indices 13 Cryptocurrncies](https://forkast.news/wp-content/uploads/2021/07/FF_SP-1260x840.jpg)
S&P Dow Jones launches 5 new crypto indices
Financial index provider S&P Dow Jones has launched five new cryptocurrency indices, according to a company statement, bringing its total number of crypto indices to eight. Fast facts The most significant of these new indices is the Cryptocurrency Broad Digital Market (BDM) Index, which includes more than 240 coins and can be used for a […]
![Crypto derivatives exchange Bybit and Ontario Securities Commission agree on enforcement proceeding schedule 14 Bybit OSC](https://forkast.news/wp-content/uploads/2021/07/Bybit-OSC-1260x709.jpg)
Crypto derivatives exchange Bybit and Ontario Securities Commission agree on enforcement proceeding schedule
The Ontario Securities Commission in Canada and Bybit, a cryptocurrency derivatives exchange headquartered in Singapore, have come to an agreement on the schedule for Bybit’s upcoming enforcement proceeding, according to the OSC. Fast facts The first hearing between Bybit and the OSC — the agency that oversees securities legislation in Canada’s largest province by population […]
![UK police seize record US$408 million in cryptocurrency in money-laundering investigation 15 Police light, British police seized giant amout of crypto for money laundering](https://forkast.news/wp-content/uploads/2021/07/siren-light-on-roof-of-police-car-2021-04-05-03-50-16-utc-1260x840.jpg)
UK police seize record US$408 million in cryptocurrency in money-laundering investigation
London police announced on Tuesday they have seized a record £294 million (US $408 million) in cryptocurrency in less than a month, as part of an ongoing investigation into money laundering. Fast facts According to London police, their recent £180-million (US$248.8 million) seizure in cryptocurrency comes less than three weeks after a £114-million (US$157.5 million) […]
![Stablecoins promise much, but can they deliver? 16 Stablecoins USDC USDT XSGD](https://forkast.news/wp-content/uploads/2021/07/Stablecoins-USDC-USDT-XSGD-1260x709.jpg)
Stablecoins promise much, but can they deliver?
As issuer Circle prepares to list and China sounds the alarm over speculation, the mood among regulators is mixed, despite stablecoins’ clear appeal to investors.
![7 key developments in blockchain capital markets in 2021 17 7 key developments in blockchain capital markets in 2021](https://forkast.news/wp-content/uploads/2021/07/exchange-stock-market-back-view-of-young-professio-Y67SF3W-1260x841.jpg)
7 key developments in blockchain capital markets in 2021
In the second installment of a 2-part report, Lucas Schweiger of Blockdata examines the most notable current trends in blockchain and capital markets.
![Band Protocol launches Phase 2 to bring off-chain data to DeFi 18 Band Protocol](https://forkast.news/wp-content/uploads/2021/07/Band-Protocol-1260x709.jpg)
Band Protocol launches Phase 2 to bring off-chain data to DeFi
Oracle platform Band Protocol is aiming to enable data providers like Google Cloud and Bloomberg to work better with decentralized applications.
![Science school's toilets turn dumps into digital currencies 19 Screenshot 2021 07 13 at 7.01.13 PM](https://forkast.news/wp-content/uploads/2021/07/Screenshot-2021-07-13-at-7.01.13-PM.png)
Science school’s toilets turn dumps into digital currencies
Science institute building given bio-fuel boost as users poo to accrue.
![Thai faithful pay up for religious trinket NFTs 20 CryptoAmulets' blessing ceremony](https://forkast.news/wp-content/uploads/2021/07/AAA_0179-1260x840.jpg)
Thai faithful pay up for religious trinket NFTs
Non-fungible tokens have gained traction across Asia, but in Thailand, the phenomenon has taken on a distinctive local twist: amulets featuring a revered abbot of a Buddhist monastery that believers say ward off evil spirits. Fast facts Crypto Amulets is a company that develops NFT amulets on the Ethereum blockchain. Founded in March, it offers […]
![Japanese crypto scam leads to arrests after investors fleeced of US$54M 21 Japan crypto scam](https://forkast.news/wp-content/uploads/2021/07/Japan-crypto-scam.png)
Japanese crypto scam leads to arrests after investors fleeced of US$54M
Police in Aichi Prefecture in central Japan have arrested four men on suspicion of crypto investment fraud, according to a report by Kyodo News. Fast facts According to a person familiar with the matter, it was suspected that a total of at least 6 billion yen (US$54 million) was collected from more than 20,000 people […]
![China explores ways to classify cryptocurrency crimes 22 seminar](https://forkast.news/wp-content/uploads/2021/07/seminar-1260x841.png)
China explores ways to classify cryptocurrency crimes
A Shanghai procuratorate has held a seminar gathering judges, police, procurators and scholars to discuss how crimes related to cryptocurrency fit into China’s current legal framework. Fast facts The procuratorate said in a post on Monday that there had been confusion as to how to categorize cryptocurrencies. Some consider them data, while others regard them […]
![Warner Bros., Nifty’s release 'Space Jam' movie NFTs 23 The cast of Space Jam: A New Legacy at its premiere | Nifty's and Warner Bros. release Space Jam NFTs](https://forkast.news/wp-content/uploads/2021/07/GettyImages-1328420755-1260x854.jpg)
Warner Bros., Nifty’s release ‘Space Jam’ movie NFTs
Non-fungible token platform Nifty’s has announced a partnership with Warner Bros. to launch a giveaway of limited-edition NFTs of characters from the upcoming film “Space Jam: A New Legacy.” Fast facts Space Jam is one of the first major films for which collectible NFTs have been offered. Warner Bros. will give one limited-edition NFT to […]
![NFTs and the music industry: Token gesture or transformative technology? | Part 1 24 rock band Echo](https://forkast.news/wp-content/uploads/2021/07/Echo-1260x712.png)
NFTs and the music industry: Token gesture or transformative technology? | Part 1
In the first of a four-part series, Forkast.News looks at how non-fungible tokens may be changing who calls the tune in the recording business.
![Bull run or BS? Where will crypto markets go after the Bitcoin crash? 25 Bitcoin and Markets](https://forkast.news/wp-content/uploads/2021/07/Economy_BullorBust-1260x945.jpg)
Bull run or BS? Where will crypto markets go after the Bitcoin crash?
Soaring BTC and altcoin prices earlier this year drew in new investors, who now worry about the current slump. Will crypto prices rise again, or are modest valuations here to stay?
![Grayscale registers large-cap crypto fund with SEC 26 Diverse Tokens](https://forkast.news/wp-content/uploads/2021/07/FF_Grayscale-1260x473.jpg)
Grayscale registers large-cap crypto fund with SEC
Grayscale Investments — the world’s largest digital asset manager — has registered its Digital Large Cap Fund with the U.S. Securities and Exchange Commission following the filing of a registration statement Form 10 last year. Fast facts The company has also announced it is filing three additional registration statements via the same form for the […]
![Bitcoin outflows near $7M in 'quietest' crypto trading week for nine months 27 bitcoin ethereum xrp 1](https://forkast.news/wp-content/uploads/2021/07/bitcoin-ethereum-xrp-1-1260x840.jpg)
Bitcoin outflows near $7M in ‘quietest’ crypto trading week for nine months
Cryptocurrency investment products saw a total outflow of US$4 million last week in the “quietest trading week since October 2020,” according to digital asset investment firm CoinShares’ weekly digital asset fund flows report. Fast facts Cryptocurrency markets remained soft, with Bitcoin seeing US$6.9 million of outflows. Trading volumes in investment products totaled just US$1.58bn for […]
![UAE central bank announces roadmap for CBDC launch 28 CBUAE](https://forkast.news/wp-content/uploads/2021/07/FF_CBUAE-1260x848.jpg)
UAE central bank announces roadmap for CBDC launch
The United Arab Emirates plans to implement a central bank digital currency as early as 2023 Gulf News reports, as outlined in a road map for the Gulf State’s economic future. Fast facts This 2023-2026 roadmap includes seven objectives — including the CBDC rollout — with the aim of making the UAE one of the […]
![South Korean crypto exchanges get breather as banks extend contracts 29 Close up picture of South Korean won](https://forkast.news/wp-content/uploads/2021/07/close-up-picture-of-south-korean-won-P7USUET-1260x840.jpg)
South Korean crypto exchanges get breather as banks extend contracts
South Korean lenders Kbank, Nonghyup Bank and Shinhan Bank have decided to extend their affiliations with cryptocurrency exchanges until a crypto exchange law compliance deadline of Sept. 24. Fast facts Kbank’s contract ended in June, and Nonghyup and Shinhan’s end in late July. Instead of renewing their contracts with the exchanges, the three banks have […]
![Gravity DEX brings DeFi into Cosmos network's orbit 30 Cosmos Gravity Dex](https://forkast.news/wp-content/uploads/2021/07/Cosmos-Gravity-Dex-1260x709.jpg)
Gravity DEX brings DeFi into Cosmos network’s orbit
Cosmos’s DeFi capital pulling power is set to get stronger as Gravity DEX launches, with Gravity Bridge and the Emeris DeFi portal on the way.
![TikTok bans crypto promotions amid concerns over targeting of young users 31 TikTok](https://forkast.news/wp-content/uploads/2021/07/TikTok.jpg)
TikTok bans crypto promotions amid concerns over targeting of young users
Ban on branded content covers range of financial services and ‘get-rich-quick’ schemes boosted by influencers with young followings.
![Diamond sets record for most expensive object bought with crypto 32 Diamond](https://forkast.news/wp-content/uploads/2021/07/FF_Sothebys-1260x838.jpg)
Diamond sets record for most expensive object bought with crypto
A 101.38-carat diamond sold at auction in Hong Kong has become the most physical object ever to have been purchased using cryptocurrency, Bloomberg reports. Fast facts The HK$95.1 million (US$12.3 million) sale price nevertheless fell short of the expected US$15 million price, auctioneer Sotheby’s said. A spokesperson for Sotheby’s told Forkast.News it was unable to […]
![CoinDCX introduces ETH-backed Liqueth token for Ethereum 2.0 staking 33 LQTH CoinDCX](https://forkast.news/wp-content/uploads/2021/07/LQTH-CoinDCX.jpeg)
CoinDCX introduces ETH-backed Liqueth token for Ethereum 2.0 staking
India-based cryptocurrency exchange CoinDCX has announced the launch of its new Liqueth (LQTH) token, which will enable users to stake Ether — the native cryptocurrency of the Ethereum blockchain. Fast facts Users will be able to stake ETH on Ethereum 2.0 from a minimum 0.1 ETH. LQTH, an ERC-20 token, will be generated and transferred […]
![Ripple seeks to force ex-SEC director to testify on XRP next week 34 Ripple XRP](https://forkast.news/wp-content/uploads/2021/07/Ripple-XRP-1260x709.jpg)
Ripple seeks to force ex-SEC director to testify on XRP next week
Despite opposition from the U.S. Securities and Exchange Commission, Ripple is pushing ahead with plans to question former SEC director William Hinman, the former head of the regulator’s Division of Corporation Finance, telling the judge overseeing discovery in the SEC v. Ripple Labs lawsuit that Hinman’s deposition has been rescheduled to July 19, according to a […]
![Axie Infinity token AXS price hits all-time high, Small Love Potion also surges 35 Axie Infinity](https://forkast.news/wp-content/uploads/2021/07/FF_Axie_Infinity-1260x699.jpg)
Axie Infinity token AXS price hits all-time high, Small Love Potion also surges
The price of Axie Infinity blockchain game’s native token has been on a tear. Why is Small Love Potion (SLP), a token on the AXS ecosystem, also rising?
![Secret Ukraine crypto farm shut down amid suspected power theft 36 Ukraine](https://forkast.news/wp-content/uploads/2021/07/Ukraine1-1260x840.jpeg)
Secret Ukraine crypto farm shut down amid suspected power theft
Cryptocurrency miners blamed for blackouts as government eyes excess electricity for mooted state crypto mining operation.
![China closes high-profile blockchain center, citing ‘registration’ issues 37 GettyImages 1215841089](https://forkast.news/wp-content/uploads/2021/07/GettyImages-1215841089.jpeg)
China closes high-profile blockchain center, citing ‘registration’ issues
Closure of center comes despite — or perhaps because of — professional pedigree of crypto exchange founder board members.
![South Korean regulators, developers face off over blockchain game NFTs 38 Close up of three device with video games | South Korea debates on blockchain gaming](https://forkast.news/wp-content/uploads/2021/07/close-up-of-three-device-with-video-games-for-youn-72ASCJ4-1260x840.jpg)
South Korean regulators, developers face off over blockchain game NFTs
Regulators in South Korea clashed with blockchain game developers yesterday at an event entitled “The Future of Blockchain Games in Korea,” at which arguments centered on whether incorporating blockchain into gaming could lead to speculation and whether game developers were being discriminated against. Fast facts Blockchain games in South Korea include in-game items represented in […]
![Cardano overtakes Bitcoin as most-held crypto on eToro trading platform 39 eToro](https://forkast.news/wp-content/uploads/2021/07/eToro-1260x709.jpg)
Cardano overtakes Bitcoin as most-held crypto on eToro trading platform
Cardano leapfrogged Bitcoin as the most held cryptocurrency on social trading platform eToro in the second quarter of 2021, the platform reported this week. Fast facts Bitcoin, which led the cryptocurrency bull run at the start of the year, saw a 42% increase in demand, but slipped from first to second place behind Cardano. Cardano […]
![Stablecoin issuer Circle to go public in US$4.5B SPAC deal 40 Circle and Concord, Circle will go public by a merge with blank cheque company](https://forkast.news/wp-content/uploads/2021/07/circle-1260x709.jpg)
Stablecoin issuer Circle to go public in US$4.5B SPAC deal
Circle, the issuer of stablecoin USD Coin, has announced that it will go public through a merger with special purpose acquisition company Concord Acquisition Corp in a deal valuing Circle at US$4.5 billion. Fast facts Law firm Brodsky & Smith has announced an investigation of the merger agreement, saying it may violate Concord’s fiduciary duties and the law. […]
![BIS: cooperation essential for CBDCs to improve cross-border payments 41 BIS, IMF, World Bank logos](https://forkast.news/wp-content/uploads/2021/07/CBDC-BIS-1260x709.jpg)
BIS: cooperation essential for CBDCs to improve cross-border payments
In a new report, BIS says countries must work together and design CBDCs with interoperability in mind. Hong Kong and Singapore lead mCBDC efforts.
![Elizabeth Warren warns over crypto risks, presses SEC on regulation 42 Elizabeth Warren](https://forkast.news/wp-content/uploads/2021/07/FF_ElizabethWarren-1260x840.jpg)
Elizabeth Warren warns over crypto risks, presses SEC on regulation
U.S. Senator Elizabeth Warren has written to Securities and Exchange Commission Chair Gary Gensler enquiring about the SEC’s authority to regulate cryptocurrencies and asking what future congressional regulatory action is needed, according to a Reuters report. Fast facts Requesting a reply by July 28, Warren, who heads the Senate Banking Committee’s Subcommittee on Economic Policy, […]
![Crypto prices continue to fall: Is the market ailing from the Covid Delta variant? 43 crypto prices](https://forkast.news/wp-content/uploads/2021/07/crypto-prices-1260x840.jpeg)
Crypto prices continue to fall: Is the market ailing from the Covid Delta variant?
The price of Bitcoin and other cryptocurrency continue to slide as global failure to contain the Covid Delta variant lead to worries of another economic downturn.
![Hong Kong manga finds virtual home on blockchain as authorities silence publishers 44 Lootex](https://forkast.news/wp-content/uploads/2021/07/lootex.png)
Hong Kong manga finds virtual home on blockchain as authorities silence publishers
NFTs offer haven as authors self-censor amid intensifying crackdown on free expression.
![Special series: 'Let’s get serious' — how blockchain is revolutionizing payment systems 45 putting a bitcoin into a vending machine, bitcoin can be our daily payment methods](https://forkast.news/wp-content/uploads/2021/07/everyday-money-use-automatic-machine-hand-insert-b-2RN9T36-1260x840.jpg)
Special series: ‘Let’s get serious’ — how blockchain is revolutionizing payment systems
Though Dogecoin and NFTs dominate headlines, their underlying technology — blockchain — is transforming our world in more meaningful ways, according to authors Kosrow Dehnad and Joe Duncan.
![Bitcoin parallel currency plan proves a hard sell in El Salvador 46 Bitcoin](https://forkast.news/wp-content/uploads/2021/07/FF_Poll-1260x582.jpg)
Bitcoin parallel currency plan proves a hard sell in El Salvador
El Salvador’s government may face challenges in making Bitcoin legal tender, as more than three-quarters of the country remains skeptical of the plan, according to a report by Reuters. Fast facts A survey of 1,233 people across El Salvador earlier this month found that 54% of people said Bitcoin adoption was “not at all correct.” […]
![SEC says Ripple not entitled to testimony on XRP from ex-director 47 SEC Ripple XRP](https://forkast.news/wp-content/uploads/2021/07/SEC-Ripple-XRP-1260x709.jpg)
SEC says Ripple not entitled to testimony on XRP from ex-director
Is William Hinman a former ‘high-ranking’ SEC official exempt from disclosing his prior communications on XRP, or must he provide testimony to Ripple?
![Crypto exchange Gemini plans expansion in Asia and Australia 48 Asia pacific gemini crypto exchange expansion](https://forkast.news/wp-content/uploads/2021/07/Asia-pacific-gemini-1260x709.png)
Crypto exchange Gemini plans expansion in Asia and Australia
U.S.-based cryptocurrency exchange Gemini is planning to expand its Asia-Pacific operations to cash in on the region’s growth, the bourse’s Asia-Pacific Managing Director, Jeremy Ng, wrote in a blog post this week. Fast facts The new expansion is to capture the growth of its Singapore office after it was first established last year, he wrote. […]
![Bank of Thailand denounces crypto anew, warns against use of crypto as payment 49 Bangkok](https://forkast.news/wp-content/uploads/2021/07/FF_Bangkok-1260x840.jpg)
Bank of Thailand denounces crypto anew, warns against use of crypto as payment
Solidifying its stance against cryptocurrency like Bitcoin, the Bank of Thailand declared yesterday that it does not support the use of cryptocurrency as a means of payment, likening crypto transactions to “barter trade” as the bank does not consider crypto legal tender. Fast facts Siritida Panomwon Na Ayudhya, assistant governor of payment systems policy for […]
![US$1.5B South Korean ‘kimchi premium’ crypto scheme prompts 33 arrests 50 kimchi cabbage korean traditional food Z3MQQWG scaled](https://forkast.news/wp-content/uploads/2021/04/kimchi-cabbage-korean-traditional-food-Z3MQQWG-scaled.jpg)
US$1.5B South Korean ‘kimchi premium’ crypto scheme prompts 33 arrests
Customs officers use foreign exchange law to shut down cycle of foreign remittances and arbitrage.
![Key takeaways from FATF’s latest report on virtual assets 51 FATF Financial Action Task Force](https://forkast.news/wp-content/uploads/2021/07/FATF-1260x709.jpg)
Key takeaways from FATF’s latest report on virtual assets
The Financial Action Task Force — the global anti-money laundering and counter-terrorist financing standards-setter — this week released its second 12-month review on virtual assets and virtual asset service providers, and called on countries to implement the revised FATF standards, including travel rule requirements “as soon as possible.” “The global nature of the underpinning technology […]
![France, Singapore complete cross-border CBDC test 52 Banque de France and MAS logo](https://forkast.news/wp-content/uploads/2021/07/MAS-BDF-1260x709.jpg)
France, Singapore complete cross-border CBDC test
The Monetary Authority of Singapore and the Banque de France today announced the successful completion of a wholesale cross-border payment and settlement experiment using multiple central bank digital currencies (m-CBDCs). Fast facts The experiment between the two central banks, supported by J.P. Morgan’s Onyx, simulated cross-border transactions and cross-currency transactions involving a Singapore dollar CBDC […]
![Stablecoins could pose risks to global financial system, Chinese central bank official says 53 Fan Yifei](https://forkast.news/wp-content/uploads/2021/07/Fan-Yifei.jpg)
Stablecoins could pose risks to global financial system, Chinese central bank official says
Warning comes as Beijing ramps up efforts to internationalize China’s currency through launch of digital yuan.
![Robinhood sees near-threefold rise in women users, COO says 54 Woman trading](https://forkast.news/wp-content/uploads/2021/07/FF_womentrading-1260x664.jpg)
Robinhood sees near-threefold rise in women users, COO says
Trading app Robinhood has seen a 369% increase in the number of women using its services in the past year, according to COO Gretchen Howard. According to a report by Business Insider, women now make up 30% of its customer base. Fast facts The result comes following Howard’s setting up of a task force to […]
![Blockchain-based digital invoicing rollout continues apace in China 55 one checking the invoice](https://forkast.news/wp-content/uploads/2021/07/one-checking-the-invoice-1260x840.jpeg)
Blockchain-based digital invoicing rollout continues apace in China
China’s blockchain-based digital invoicing systems are being increasingly put into large-scale use in major cities and provinces. Fast facts Blockchain-based digital invoicing is being used in multiple sectors in Hainan Province, China’s only free-trade port. Digital invoicing systems are in use in 2,795 organizations, including courts, schools and banks, according to Securities Daily, a Chinese […]
![Jamaican state digital currency set for launch next month 56 Jamaican Dollars](https://forkast.news/wp-content/uploads/2021/07/FF_jamaica-1260x840.jpg)
Jamaican state digital currency set for launch next month
The Bank of Jamaica’s much-anticipated central bank digital currency will launch next month, according to a report by the Jamaica Observer. Fast facts Previously due to launch in May, the CBDC will initially be implemented through the National Commercial Bank — the biggest financial institution in the country — before being expanded to other banks […]
![Israel authorities order seizure of cryptocurrencies from Palestinian resistance group Hamas 57 NBCTF](https://forkast.news/wp-content/uploads/2021/07/NBCTF-1260x709.jpg)
Israel authorities order seizure of cryptocurrencies from Palestinian resistance group Hamas
Israel’s National Bureau for Counter Terror Financing has issued a seizure order against 84 cryptocurrency addresses associated with Palestinian resistance group Hamas as it looks to confiscate holdings of Bitcoin, Tether, Dogecoin and other cryptos. Fast facts “This action comes after a sizable uptick in cryptocurrency donations to Hamas in May following increased fighting between […]
![Spending on crypto-linked Visa cards exceeds $1B in first half of 2021 58 cryptocom crypto visa cards](https://forkast.news/wp-content/uploads/2021/07/cryptocom-visa-cards.jpg)
Spending on crypto-linked Visa cards exceeds $1B in first half of 2021
More than US$1 billion was spent on crypto-linked Visa cards in the first six months of 2021, according to a Visa blog post this week. Fast facts Apart from enabling customers to buy cryptocurrencies like Bitcoin using its cards, Visa has partnered with 50 crypto platforms on card programs — such as Coinbase, the largest […]
![Argentina proposes allowing salaries to be paid in crypto 59 Argentina Flag](https://forkast.news/wp-content/uploads/2021/07/FF_argentina-1260x840.jpg)
Argentina proposes allowing salaries to be paid in crypto
An Argentine lawmaker presented a bill this week to allow employees and those exporting services abroad to be paid in cryptocurrency, Yahoo News reports. Fast facts Congressman José Luis Ramón said that he presented this bill to allow Argentina’s people — whose local currency, the peso, currently suffers from roughly 50% inflation a year — […]
![How is blockchain going to disrupt capital markets? 60 Trader thinking about stock market, the blcokchain can change the capital market](https://forkast.news/wp-content/uploads/2021/07/trader-analyzing-stock-market-Q5UWYAS-1260x840.jpg)
How is blockchain going to disrupt capital markets?
In the first of a special two-part report, Lucas Schweiger of Blockdata explores what the future of capital markets could look like with blockchain-based infrastructure.
![Ethereum: London calling. Will the SEC ever approve Bitcoin ETFs? Foreign miners reap rewards amid China crypto crackdown. 61 EIP 1559 Ethereup on laptop screen](https://forkast.news/wp-content/uploads/2021/07/EIP-1559.png)
Ethereum: London calling. Will the SEC ever approve Bitcoin ETFs? Foreign miners reap rewards amid China crypto crackdown.
Top blockchain and crypto news: Ethereum upgrade, torque of the town. SEC in snafu over Bitcoin ETFs. Crypto miners flourish amid China fallout.
![Chinese blockchain firm Easily Visible reveals US$1.7B loss 62 Background of Stock market graph chart on LED display. Trading concept](https://forkast.news/wp-content/uploads/2021/07/background-of-stock-market-graph-chart-65WGQ7E-1260x840.jpg)
Chinese blockchain firm Easily Visible reveals US$1.7B loss
Chinese blockchain company Easy Visible has disclosed a loss of more than 11.52 billion yuan (US$1.78 billion) for 2020 in an annual report filed two months late. The loss equates to 1.74 times the company’s July 5 market value of 6.66 billion yuan. Fast facts On May 6 the company was suspended from trading on the […]
![Iran crypto mining remains suspended amid blackouts 63 Iran](https://forkast.news/wp-content/uploads/2021/07/Iran-flag-1260x945.jpg)
Iran crypto mining remains suspended amid blackouts
Iran has continued a suspension of cryptocurrency mining, with Vice President Eshaq Jahangiri urging all licensed miners to stop operating as the country continues to suffer power outages, according to a report by U.Today that cited a Farsi-language tweet by the Tasnim News Agency. Fast facts Jahangiri said the ongoing electricity supply problems could last […]
![Chinese firm shut down by central bank for trading cryptocurrencies 64 PBOC](https://forkast.news/wp-content/uploads/2021/07/Peoples_Bank_of_China_Headquarter_Beijing.jpeg)
Chinese firm shut down by central bank for trading cryptocurrencies
China’s central bank has reiterated its ban on cryptocurrency trading and yesterday said it had ordered a company in Beijing suspected of offering software services for crypto trading to shut down as part of an ongoing nationwide crackdown on the crypto industry. Fast facts A Beijing office of the People’s Bank of China and a […]
![Software firm Meitu loses US$17.3M on Bitcoin 65 girl takes selfie](https://forkast.news/wp-content/uploads/2021/07/self-portrait-1714428_1280-1260x919.jpeg)
Software firm Meitu loses US$17.3M on Bitcoin
Higher value of Ether investments softens blow to value of Bitcoin holdings.
![South Korea holds firm on AML compliance for banks serving crypto exchanges 66 korea feature](https://forkast.news/wp-content/uploads/2020/09/korea-feature.jpg)
South Korea holds firm on AML compliance for banks serving crypto exchanges
The chief of South Korea’s main finance sector regulator has spoken out again against banks that have requested exemptions from anti-money laundering compliance rules in their contracts with cryptocurrency exchanges. Fast facts Eun Sung-soo, the chairman of the Financial Services Commission said yesterday: “Banks should use their own judgement to make decisions and apply for […]
![Binance suspends SEPA euro deposits as CZ calls compliance a ‘journey’ 67 Changpeng CZ Zhao, CEO of crypto exchange Binance](https://forkast.news/wp-content/uploads/2021/07/Binance-2-1260x709.jpg)
Binance suspends SEPA euro deposits as CZ calls compliance a ‘journey’
Facing an onslaught of regulatory scrutiny, Binance CEO calls crypto regulations ‘positive sign’ of a maturing industry and announces new hires in compliance.
![Crypto.com inks partnership deal with martial arts company UFC 68 UFC and Crypto.com](https://forkast.news/wp-content/uploads/2021/07/Cryptocom-UFC-1260x709.jpg)
Crypto.com inks partnership deal with martial arts company UFC
Mixed martial arts organization UFC and Hong Kong-based cryptocurrency exchange Crypto.com today announced a partnership that will see Crypto.com become UFC’s first global official fight kit partner. Fast facts Apart from Crypto.com’s logo placement on UFC fight kits, Crypto.com will, as UFC’s cryptocurrency platform partner, have a brand presence inside the Octagon during all pay-per-view […]
![Hong Kong CBDC project looks to commercialize for cross-border payments 69 BIS general manager Agustin Carsten and Hong Kong Monetary Authority chief executive Eddie Yue speaking at a virtual event hosted by the ong Kong Academy of Finance](https://forkast.news/wp-content/uploads/2021/07/Agustin-Carsten-Eddie-Yue-1260x708.jpg)
Hong Kong CBDC project looks to commercialize for cross-border payments
Eddie Yue, CEO of Hong Kong Monetary Authority lays out the future of the territory’s digital currency at a Hong Kong Academy of Finance event.
![Will Basel Committee’s proposed rules for crypto banking fly? 70 BIS Basel Committee building](https://forkast.news/wp-content/uploads/2021/07/BIS-Basel-Committee-1260x709.jpg)
Will Basel Committee’s proposed rules for crypto banking fly?
The standards-setter for banks around the world wants to subject crypto like Bitcoin to higher capital requirements. What do industry players think?
![Hackers demand $70m in Bitcoin ransom from US software company Kaseya 71 Hacker](https://forkast.news/wp-content/uploads/2021/07/FF_Ransomware-1260x841.jpg)
Hackers demand $70m in Bitcoin ransom from US software company Kaseya
A ransomware attack on U.S. software company Kaseya has likely affected between 800 and 1,500 businesses around the world, the company said in a statement on Monday, as the group claiming responsibility for the attacks demands US$70 million in Bitcoin to release user’s data. Fast facts Cybercrime group REvil, which is linked to Russia, claimed […]
![Ethereum's London hard fork to launch Aug 4 72 Tower Bridge](https://forkast.news/wp-content/uploads/2021/07/FF_london-1260x840.jpg)
Ethereum’s London hard fork to launch Aug 4
Ethereum’s long-awaited London hard fork — which earlier was expected to go live this month — is now going to launch on August 4 between 13:00 UTC and 17:00 UTC with block 12,965,000, Ethereum developer Tim Beiko said in a recent blog post. Fast facts Following the successful release of its three testnets, Ropsten, Goerli and […]