Forkast.News is now Forkast Labs
bitcoin and charts in smartphone in hand C3DDPP5

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?
julia roberts 2639315 1920

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.
FF TradingCrypto

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.
network 3664108 1920

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.
wooden blocks with the word kyc know your customer RB9NZ4S

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.
Bangkok CBD

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.
FF Markets

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.
stock 1863880 1920

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.
gateway of india mumbai 4GGF335

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 bar on stacks of gold bullions close up A9MSTGY scaled

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 in the US

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.
Golden bitcoins and South Korea flag | South Korea's tax law amendment allows authorities to seize crypto from cold wallets

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.
pile of chinese money A4DUKRZ scaled

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.
digital rmb final

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 hits new high price

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 from the soil RK9L5Z3 scaled

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%.
FF Documents

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 finance law 69ADV8K scaled

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.
panorama of istanbul GRESBDF scaled

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.
ripple circuitboard candlesticks wo

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 torn paper wo

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.
bridge H88TTNE 1 scaled

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?
concept computer keyboard with red key that says f SZZWB9E scaled

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.
handcuffs and bitcoins P5G6UD4 scaled

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.
stockvault bitcoin in grass266900 scaled

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.
dam discharge water during summer time P52X4Y3 scaled

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.
new york stock exchange in manhattan finance distr LKSLMNJ scaled

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.
business 3194671 1920

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.
us and chinese yuan with white puzzle for exchange E9M4H7U scaled

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?
DBS Singapore 2 scaled

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.
Brad Garlinghouse

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.
cropped image of woman paying with mobile phone pa 5J3VKGC scaled

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 skyline hong kong china 4MRBAGJ scaled

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 startmeuphk

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.
bitcoin and crypto mining farm big data center RUQ89FJ

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.
bitcoin coins sticking out of a wallet PVKHR4Z 1

PayPal to let users move their crypto into third-party wallets

Global payments giant PayPal plans to let its users move the cryptocurrency they hold on its platform into third-party wallets.
smartphone mobile work hand man technology 1205069 pxhere.com scaled

Digital currencies gain ground as governments launch CBDC initiatives

Cashless payment methods are on the rise as governments step up central bank digital currencies (CBDCs) initiatives.
Bitcoin Mining mother board scaled

Can Elon Musk shrink Bitcoin mining’s carbon footprint? PancakeBunny’s $200 million hack. Ray Dalio admits to owning crypto.

Other top blockchain and crypto news: Australia signals progressive approach to crypto as Hong Kong moves closer to banning retail crypto trading.
blockchain 3585516 1920

Polygon and Aleph.im partner to protect NFTs from disappearing

Fast-growing Ethereum scaling platform Polygon and decentralized storage network Aleph.im join forces to ‘supercharge’ Polygon’s NFT ecosystem.
muscat 2455049 1920

Ripple partners with Oman’s Bank Dhofar for cross-border mobile payments

Ripple is partnering with Bank Dhofar, Oman’s second largest bank, to facilitate cross border mobile payments through RippleNet.
papers 3819540 1920

Ripple faces SEC request for further discovery over XRP transactions

The U.S. SEC is seeking additional discovery from Ripple on its XRP transactions and documents related to its lobbying efforts.
toronto 164813 1920

Crypto exchange Poloniex faces sanctions over alleged securities breaches

Ontario Securities Commission is taking enforcement action on crypto exchange Poloniex for its alleged violation of Ontario securities law.
farm 2852024 1920 1

BIT Mining to invest US$9M in crypto mining in Kazakhstan

Chinese crypto mining firm BIT Mining is investing US$9.33 million to construct and operate a mining data center in Kazakhstan.
1 1

Inner Mongolia takes steppes to tighten crypto mining ban

The Chinese region of Inner Mongolia – once a thriving cryptocurrency mining hub that has recently enacted a series of measures to rein in the sector – has unveiled eight new proposals designed to give added force to its recently imposed, all-out ban on crypto mining.
satellite 1030779 1920

SpaceChain to send blockchain technology into orbit in Ethereum first

SpaceChain, a Singapore-based startup that focuses on the integration of blockchain with space technology, will be launching two missions to space next month to deploy decentralized satellite infrastructure and multi-signature services for its corporate customers.
close up picture of indonesian rupiah banknotes P2SFDCL scaled

Indonesia to launch digital rupiah as online payments soar

Indonesia is planning to launch a digital version of its national currency, central bank Governor Perry Warjiyo said on Tuesday.
bank notes 941246 1920

Tether’s market cap tops US$60B despite crypto outflows

Despite recent outflows from crypto, U.S. dollar-linked stablecoin Tether (USDT) has surpassed US$60 billion for the first time this week.
cryptocurrency trading platform software L3426JU scaled

DeFi has boosted challenger banks. Now it’s their customers’ turn

New and innovative lenders are taking advantage of DeFi’s low costs to offer savings account interest rates that Main Street banks simply can’t match.
ADA cubes up and down

Cardano sees US$10M inflows as big investors switch to proof-of-stake coins

Amid declines in Bitcoin and Ethereum, Cardano and its native cryptocurrency ADA saw US$10 million inflows as institutional investors switch to proof-of-stake coins.
china

China’s cryptocurrency mining sector becomes target of fresh clampdown 

Chinese authorities’ latest regulatory offensive against the crypto industry may not be as bad for the sector as it appears.
farm 2852024 1920

Marathon to host 73,000 Bitcoin miners in Texas as Chinese exodus looms

Marathon Digital Holdings has announced a deal with Compute North to host 73,000 of Marathon’s Bitcoin miners at a new data center in Texas.
Bitcoin miner scaled

Bitcoin rallies as Elon Musk meets with miners in green energy push

Bitcoin has rallied to nearly US$40,000, boosted by tweets from Tesla founder Elon Musk and MicroStrategy CEO Michael Saylor announcing that they have met with North American miners of the cryptocurrency to promote a renewable energy initiative.
hong kong skyline at night china PWWU4YY scaled

What will happen if Hong Kong bans retail investors from trading crypto?

Hong Kong is poised to ban small investors from buying cryptocurrencies, while making exchanges get licences. Industry experts discuss how this might play out. 
and
ethereum and bitcoin PQBN9RE scaled

What is the outlook for Bitcoin and Ethereum for the rest of 2021?

The current dip aside, what are Bitcoin and Ethereum’s longer-term price forecasts? Finder’s brain trust of 35 crypto experts peers into a crystal ball.
gold bitcoin over euro coins WZX547K scaled

Bitcoin dominance rises to 45% as altcoins crash over China crypto crackdown

As the crypto sell-off continued over the weekend, Bitcoin once again proved its resilience relative to other cryptocurrencies in not bleeding as much.
stocks revenue money investing in crypto currency HFUXLX9 scaled

Half of hedge funds are now investing in crypto, says PwC report

PwC and Elwood Asset Management have published their third annual report on the global crypto hedge fund landscape. Here are its findings.
market decline

Bitcoin price plunges and altcoins sell-off as crypto market decline intensifies

Bitcoin and altcoin prices take heavy hits and sell-off deepens as more bad news, including a blatant DeFi exit scam, continue battering crypto markets.
farm 2852025 1920

Bybit crypto derivatives exchange launches cloud mining for Ether

Crypto exchange Bybit is launching cloud mining to provide exposure to Ether. What happens when Ethereum moves from proof of work to proof of stake?
Bank of Korea in Daegu, South Korea

South Korea forges ahead on its digital currency development

Kicking the digital won’s development into higher gear, Bank of Korea is calling for bids to be a technology supplier for its digital currency (CBDC) project.
bitcoin 5001164 1920

China announces plan to crack down on Bitcoin mining

The price of Bitcoin fell by over 10% following an announcement by China’s State Council today that it is planning to crack down on Bitcoin mining and trading and “resolutely prevent the transmission of individual risks to society.” Fast Facts: The 51st meeting of the State Council Financial Stability and Development Committee called for the […]
hong kong business retail cbdc scaled

Hong Kong to close crypto exchanges to all but ‘professional investors’

Cryptocurrency exchanges in Hong Kong will have to obtain licenses from the territory’s markets regulator and limit their service offerings to “professional investors”, according to the results of a consultation published today.
blocks nft non fungible token and money connected 2F85EB2 scaled

How NFTs could trigger lawsuits and anti-money laundering regulation

Non-fungible tokens may be a boon for art and sports collectibles, but the technology is also spawning a host of thorny regulatory and legal issues.
, and
22786901990 d21dca54b2 k 1

Solana gets Coinbase listing after SOL prices surge amid crypto market crash

Coinbase Pro adds Solana’s native token, opening the doors for US investors after SOL outperforms Bitcoin and most other cryptos amid market crash.
bitcoin 2008262 1920

Singapore’s DBS Bank says no investment discussion can omit Bitcoin

Diversification to allocate funds to Bitcoin is an “opportunity that (fiat) money cannot buy”, says DBS Bank’s chief investment officer.
south korea flag waving against cloudy sky DVGMXHR scaled

S. Korean crypto exchange Bithumb distances itself from scandal-hit ex-chairman

Bithumb, one of South Korea’s biggest cryptocurrency exchanges, is attempting to disassociate itself from its former chairman amid fears that its links to him may pose a threat to its license to operate.
coins bitcoin against the background of the chines WJ4P2BG scaled

Meitu, Chinese crypto-invested firms’ stock slammed by Bitcoin crash

Hong Kong-listed beauty app Meitu and other companies that have invested in cryptocurrencies have seen millions of dollars wiped off the value of their stock following the huge global Bitcoin sell-off this week.
Ripple XRP Bitcoin Ethereum

US Treasury calls on firms to report to IRS on crypto transactions over US$10K

The U.S. Department of the Treasury is calling for business to report cryptocurrency transactions worth more than US$10,000 to the Internal Revenue Service.
abstract network background ZLNCLFP scaled

Bank on change: DeFi’s challenge to traditional finance and fintech

As mainstream finance embraces decentralized finance, neither it nor its younger challengers are likely to escape the evolutionary forces at work.
thai 1549084 1920

Thailand’s The Brooker Group still bullish on crypto, planning US$3M investment in DeFi

The Booker Group announced that it now holds approximately US$35 million in crypto and plans to invest US$3 million into DeFi in Q2.
Gary Gensler

U.S. SEC chair Gary Gensler says regulator will enforce crypto rules ‘aggressively and consistently’

U.S. SEC chair Gary Gensler says as technology and markets evolve, regulators should be ready to bring cases involving crypto.
a piggy bank and coins on a table XV5RFH5

What’s really behind the Bitcoin market crash? Tether USDT lifts veil on reserves. Facebook-backed Diem going to California.

Other top blockchain and cryptocurrency news: BlockFi’s accidental BTC millionaires. China’s Inner Mongolia asks citizens to report illegal crypto mining.
Kenny Dalglish 1980s

NEM’s Symbol blockchain launching NFT footballer collectibles

NEM Group is launching NFTs with former Liverpool footballer and manager Sir Kenny Dalglish and current Manchester City player Riyad Mahrez.

Delivered weekly on Thursdays

The Current Forkast

An unmissable weekly round up of the biggest stories in emerging tech from an Asian perspective, featuring commentary from Forkast Editor-in-Chief Angie Lau. Check out recent editions.