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The South Korean Flag in a dark sky with a seagull flying behind | 14 fake accounts by exchanges busted in South Korea

South Korea points to crypto regulation efforts after calls for watchdog to quit

South Korea’s presidential office has reacted defensively to a petition calling for the chief of the country’s main finance sector regulator to step down over comments he made about cryptocurrencies.
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Survey: 32% of novice traders only invested in crypto in past year

Nearly one in three novice traders reported making no traditional investments outside crypto over the past year, according to a survey published today by Overbit, a Singapore-based cryptocurrency exchange. In contrast, 85.3% of professional traders reported diversifying their investment portfolios to stock, real estate or other traditional assets. Fast facts: The survey of 3,000 traders […]
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Australian auction house begins accepting crypto for all items

Auction house Lloyds Auctions Australia has begun accepting cryptocurrency for all purchases on its marketplace.
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Rig maker Bitmain offers help to Chinese miners looking to relocate abroad

Chinese mining rig maker Bitmain is offering assistance to clients that want to relocate their cryptocurrency mining operations from China to other countries.
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Binance NFT marketplace launches with auction of Dali, Warhol

Crypto exchange Binance is launching a non-fungible token marketplace, auctioning NFTs of artworks by Andy Warhol and Salvador Dali.
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Court grants Ripple access to SEC’s internal trading policies on XRP

A judge has granted Ripple’s request to force the U.S. Securities and Exchange Commission to reveal its non-public policies regarding whether agency employees may buy and sell XRP and other cryptocurrencies, according to a screenshot of a new legal filing shared by the lawyer representing XRP holders. Fast facts: Earlier this month, Ripple sought the […]
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John McAfee dead by suicide in Spanish jail before extradition to US

John McAfee has died by suicide in a prison cell in Barcelona after a Spanish court authorized his extradition to the US where he faced tax evasion charges.
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Bitcoin: Follow the money. Titan goes Titan-ic. China’s footloose miners.

Top blockchain and cryptocurrency news: Bitcoin’s still winning. Titan’s troubles as a teachable moment. Beijing creates a crypto mining diaspora.
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Chinese crypto mining rig maker Bitmain suspends sales as prices drop

Chinese mining rig maker Bitmain has stopped selling in-stock cryptocurrency mining equipment amid a plunge in the prices following a shutdown of major mining pools in China.
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What lies ahead for CBDCs, Bitcoin and other digital currencies?

In a new report, Bank for International Settlements extols central bank digital currency (CBDC) as the future of money. Will CBDCs replace Bitcoin someday?
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Bitcoin mining rig maker Canaan breaks ground in Kazakhstan

Canaan, one of the world’s biggest crypto mining rig makers, has launched its own crypto mining business in Kazakhstan.
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South Korean crypto exchange Upbit in dock in trading tech case

South Korean crypto exchange Upbit — the country’s biggest — is facing a lawsuit filed by a university foundation alleging patent infringement.
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Taiwan developing Covid-19 blockchain platform to track jab history

A team of doctors and engineers in Taiwan is developing a blockchain-based platform that could keep track of residents’ vaccination histories and health conditions.
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U.S. SEC settles with Loci over unregistered securities offering

The U.S. SEC has settled charges against Loci and its CEO, John Wise, for allegedly making false statements in connection with a sale of digital asset securities.
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Indian crypto investors could be stung by 2% foreign operator levy

Indian cryptocurrency investors could face a 2% levy on transactions made through foreign-owned crypto exchanges operating in the country.
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Iran seizes record haul of 7,000 crypto mining machines

Iranian police have confiscated 7,000 cryptocurrency mining machines from an abandoned factory in western Tehran, the largest batch discovered in recent days.
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Chinese payment giant Alipay starts selling NFTs

Chinese payment app Alipay has started selling non-fungible token artwork, finding buyers for a combined 8,000 editions of two artworks within one day.
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U.S. Treasury nominees pledge beefed-up crypto AML enforcement

Two nominees to the U.S. Treasury Department have promised, if they are confirmed in their posts, to implement new regulations relating to cryptocurrency.
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Bitcoin price rebounds after falling below $30K for first time in 6 months

After a spate of bad news, Bitcoin’s price tumbled to its lowest level this year before climbing back up to $34,000. Where are BTC prices likely to go next?
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Report: US cryptocurrency crimes surging by 300% a year

Crypto-related crime in the US increased an average of over 300% per year from 2017 to 2020with a total of 82,135 cases last year alone.
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Polkadot DeFi hub Acala’s Karura network wins first Kusama auction

Decentralized finance hub Acala Network’s sister network, Karura, has won the first parachain lease auction on Kusama, Polkadot’s pre-production network, and is now successfully producing blocks, according to an announcement today. Fast facts: The successful completion of Kusama’s first parachain slot auction and Karura’s launch brings Polkdot ever closer to its rollout. Karura raised more […]
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What is Ethereum, and could it become the future of blockchain?

Ethereum is much more than a cryptocurrency, and it has already attracted huge interest among investors. What’s all the fuss about? Forkast.News explains.
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Chinese crypto miners head west as Beijing’s crackdown gains pace

Kazakhstan offers nearby bolthole as North America and Europe beckon.
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How NFTs can increase efficiency in trade finance

Better known for uses in art and collectibles, non-fungible tokens can also improve supply chains and prevent fraud. Richard Crook of LAB577 explains how.
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South Korean crypto exchange Upbit to sue Pica Project after delisting coin

South Korean cryptocurrency exchange Upbit is preparing legal action against crypto coin issuer Pica Project, whose tokens it has delisted from its platform.
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French central bank, SEBA Bank wrap CBDC securities settlement test

France’s central bank has successfully completed a central bank digital currency experiment involving the settlement of listed securities with Switzerland’s SEBA Bank.
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Bearish crypto sentiment focused on Bitcoin, CoinShares says

Bitcoin is in its sixth consecutive week of institutional outflows, with US$89 million exiting the coin, according to a weekly fund flows report.
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Iron Finance’s DeFi bank run — and how Mark Cuban got ‘rekt’

Iron Finance, once a DeFi darling, went from billions to bust in a day. Should investors have seen the crash coming? How stable are algorithmic stablecoins?
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Bybit joins growing list of crypto exchanges in Canadian regulator’s crosshairs

The Ontario Securities Commission (OSC) is seeking to bring enforcement action against Singapore-based crypto derivatives exchange Bybit for allegedly violating the Canadian province’s securities laws, according to a statement. Fast facts: “Bybit, incorporated in the British Virgin Islands, is operating an unregistered crypto asset trading platform, encouraging Ontarians to use the platform, and allowing Ontario […]
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Sotheby’s will accept Bitcoin and Ether for 101-carat diamond auction

Sotheby’s has announced it will be accepting cryptocurrency as payment in an upcoming auction for a 101.38-carat diamond with flawless clarity.
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Chinese central bank orders lenders to cut cryptos’ financial lifelines

The People’s Bank of China has told the country’s big banks and other finance sector heavyweights to cut off financing sources for cryptocurrency transactions.
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Bitcoin and Ethereum prices fall: Is the crypto market in an over-leveraged bubble?

Against a backdrop of El Salvador’s BTC boosts, famed investor Michael Burry warns about a crypto price bubble and China intensifies its crypto clampdown.
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Iran bans blockchain association, citing regulatory breaches

Iran’s interior ministry has suspended the Iran Blockchain Association over alleged breaches of government regulations.
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Over 3,000 ATMs in Beijing now support digital yuan withdrawals

Two of China’s largest state-owned banks, the Industrial and Commercial Bank of China (ICBC) and the Agricultural Bank of China (ABC), are now offering two-way exchange between fiat cash yuan and e-CNY digital currency through more than 3,000 ATMs in Beijing, according to reports in local media.  Over 3,000 ATMs in Beijing managed by ICBC […]
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S. Korean banks start crypto exchange reviews as contract renewals loom

South Korean lenders have started money laundering risk assessments of the country’s “big four” cryptocurrency exchanges, with which they have contracts to provide real-name accounts.
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CoinShares partners with Germany’s Finanzen Zero on crypto ETPs

European digital asset manager CoinShares hasannounced a partnership with German financial news portal Finanzen.net to bring crypto exchange traded products to investors with no trading fees.
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Bitcoin hashrate plunges as Chinese crypto mining crackdown hits Sichuan

The Bitcoin hashrate plunged over the weekend following a clampdown on cryptocurrency mining by the southwestern Chinese province of Sichuan.
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Paraguay may adopt Bitcoin as lawmaker seeks to follow El Salvador

Following El Salvador’s move to become the first country in the world to recognize Bitcoin as legal tender, a Paraguayan congressman has announced plans to do the same in the South American nation next month.
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Asia’s newest unicorn, crypto trading firm Amber Group, raises $100 million

Forkast.News speaks with Michael Wu, Amber Group’s co-founder and CEO, on how the crypto firm is going from $100 million to $1 billion in valuation.
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Survey: Crypto investing gender gap is narrowing in Australia

The number of Australian women investing in cryptocurrency has grown this year from 7% in January to 11% in June.
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As Shanghai gives away digital yuan, we hit the streets with a man spending it

Money may be easy to part with when it’s free, but as Shanghai’s first experimental e-CNY giveaway shows, it’s not so easy finding shops to take it.
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Miami woos crypto miners fleeing China

The city’s mayor says it welcomes an exodus of miners from China amid a generalized clampdown on the industry.
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Chinese crypto mining ban coming to Sichuan — reports

Miners face imminent shutdown as power companies told to cut electricity, according to multiple reports.
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U.S. securities watchdog’s regulatory agenda turns blind eye to crypto

Dashing hopes of greater regulatory clarity for the cryptocurrency industry, the U.S. Securities and Exchange Commission’s recently released annual regulatory agenda does not mention Bitcoin or cryptocurrency regulations.
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MSCI to launch cryptocurrency index

Global securities index MSCI plans to launch a cryptocurrency index, according to CEO Henry Fernandez.
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Grayscale eyes 13 more crypto assets including Polygon, Bancor

Institutional digital asset manager Grayscale announced today that it is exploring 13 more assets for its trusts, mainly related to decentralized finance.
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‘China’s Robinhood’ halts CME crypto futures services amid sector clampdown

Chinese stock trading app Futu Niuniu has suspended Chicago Mercantile Exchange cryptocurrency futures services and stopped supplying crypto market information.
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New Singapore telco to offer contract-free, blockchain-backed services

Gorilla Mobile, Singapore’s newest mobile virtual network operator, is set to roll out blockchain technology to offer contract-free services.
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Angry Aussie crypto investors eye Binance class action

Australian investors adversely impacted by repeated system failures on Binance are considering taking a class action lawsuit to recoup their losses.
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U.S. Republican Party to accept donations in cryptocurrency

The National Republican Congressional Committee in the US will begin accepting donations in cryptocurrency.
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How DeFi exchanges like SynFutures may challenge TradFi and CeFi

Singapore-based decentralized exchange SynFutures has closed a $14 million series A round to bring crypto derivatives to new users around the world.
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South Korean crypto exchanges face ban on listing own tokens

South Korea’s Financial Services Commission today revealed plans to ban cryptocurrency exchanges in the country from listing their own coins.
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Chinese blockchain behind financial SOEs to set up new HQ in Chongqing

Yunphant is set to build a second headquarters for its blockchain company in the southwestern Chinese city of Chongqing, according to a report by China News.
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Bitcoin price dips but BTC dominance rises with US inflation fears

Bitcoin sheds 4% but BTC’s share of the total crypto market grows after US Fed projects higher inflation and plans interest hikes earlier than expected.
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Singapore DeFi derivatives exchange SynFutures closes US$14M fund raise

SynFutures, a Singapore-based decentralized derivatives exchange, today announced the closure of a US$14 million series series-A funding round led by Polychain Capital.
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How Singapore and Cambodia see digital currencies for cross-border use

In a recent conference, central bankers from Cambodia and Singapore discuss how digital currencies are transforming existing payment systems for the better.
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Singapore’s PSB Academy launches Ethereum-hosted blockchain diploma

PSB Academy, a private education institution in Singapore, ACCESS, a crypto non-profit, and learning platform Skilltree today announced the launch of a blockchain diploma program.
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Airbnb to face decentralized rival as Dtravel launches

Former executives from online travel platforms have partnered with Binance-backed Travala.com to launch an Airbnb-like decentralized home-sharing platform.
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El Salvador feels confused over salary payments in Bitcoin

The El Salvadorean Department of Labor and Social Welfare has had to clarify it is not within its purview to determine whether salaries can be paid in Bitcoin.
Bitcoin in Sand

Bitcoin bounces back. Criminals choose crypto. Chinese mining redoubt faces scrutiny.

Top blockchain and crypto news: Bitcoin finds fresh favor in Global South. Why would hackers demand a Bitcoin ransom? Chinese miners eye Yunnan probe.
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The internet paradigm shift is here: Are you prepared for Web 3.0?

Permissionless, open source and decentralized, Web 3.0 will transform computing and data storage. Maria Paula Fernandez of Golem Network explains how.
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Blockchain-powered air quality sensor test launches in Hong Kong

France-based PlanetWatch, which records air quality data on Algorand’s blockchain, has launched its first test sensor in Hong Kong.
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China’s public Chang’An Chain gets upgrade to accelerate processing

Chinese homegrown public blockchain platform Chang’An Chain has been equipped with 96-core blockchain-specific chips, and 23 companies joined its ecosystem yesterday.
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BitDAO raises US$230M with Peter Thiel, VCs to drive DeFi adoption

BitDAO — a new decentralized autonomous organization that aims to promote and propel the mass adoption of open finance and the decentralized tokenized economy — has announced the completion of a US$230 million private sale.
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Diginex and crypto exchange EQUOS rebrand as EQONEX

Nasdaq-listed Diginex, a Singapore-based digital asset financial services company, today announced a rebranding of its businesses, including the EQUOS cryptocurrency exchange, as EQONEX.
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India reviews cryptocurrency ‘ban’ legislation

The Indian government and leading industry stakeholders are reviewing elements of legislation that proposed a ban on cryptocurrencies.
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South Korean crypto exchanges race to comply with strict new rules

Fifty South Korean crypto exchanges have applied for certification under the country’s Information Security Management System — the first step in meeting stringent new crypto exchange regulations.
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R3 and ASEAN network partner on CBDC sandbox for banks and fintechs

The ASEAN Financial Innovation Network (AFIN) is partnering with enterprise software firm R3 on a central bank digital currency (CBDC) sandbox.
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Coinbase Pro adds Shiba Inu, Chiliz and Keep, causing prices to spike

Coinbase will add Shiba Inu, Chiliz and Keep Network to its professional trading platform with full trading beginning at 9am PT if liquidity conditions are met.
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Court denies SEC request for info on Ripple’s recent XRP transactions

A judge has denied the U.S. Securities and Exchange Commission’s request for documents related to Ripple’s XRP transactions and lobbying efforts that took place after the SEC filed its lawsuit last December, according to a new legal filing. Fast facts: “As discussed in the Court’s earlier Opinion and Order denying access to Ripple’s privileged communications, […]
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Chinese province of Yunnan puts crypto mining under the microscope

Following rumors of a possible ban on cryptocurrency mining in the province last week, its energy regulator has clarified an approach to the industry that looks set to rein in rogue operators.
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ConsenSys, Hong Kong university launch Ethereum-powered Covid passport

The Chinese University of Hong Kong and Ethereum software company ConsenSys today announced the launch of a Covid-19 digital health passport.

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