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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.
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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.
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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.
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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.
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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.
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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 […]
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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.
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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.
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‘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.
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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.
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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?
FF NFT

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.
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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.
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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.
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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.
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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.
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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!
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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?
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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%.
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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.
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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.
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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.
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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.
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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.
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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?
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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.
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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.
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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.
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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.
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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.
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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.
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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?
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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.
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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.
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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.
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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
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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. 
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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.
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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.

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