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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.

The crypto market has rebounded after one of its biggest crashes. Bitcoin is a ‘safe haven’ for many investors.

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

Mass liquidations are observed across exchanges as the crypto market continues to struggle. Meanwhile, institutions explore DeFi.

Chainlink, a data oracle, has joined the Hedera Governing Council, which oversees the distributed governance of the Hedera network, an enterprise-grade public network for the decentralized economy.

The world’s biggest cryptocurrency may have found a new trading range after being battered yesterday following an apparent Chinese clampdown on cryptos, partly reversing losses of around 30% seen when investors dumped their coins on Wednesday.

Former CFTC chairman Chris Giancarlo and Accenture’s David Treat are not in a CBDC race, but a ‘contest’ to develop money that reflects societal values.

China’s newest warning against crypto sends market into nosedive and Bitcoin dips below US$40,000 for the first time since February.

Professional crypto traders appear to be taking the recent plunge in the price of Bitcoin in their stride as they look ahead to an upswing in the cryptocurrency’s fortunes.

RippleNet has partnered with National Bank of Egypt and UAE-based payment services firm LuLu International Exchange for the processing of cross-border funds transfers from the United Arab Emirates to Egypt.

American Bitcoin miner Riot Blockchain’s mining revenue skyrocketed almost tenfold to US$23.2 million in the first quarter of 2021, according to a U.S. Securities and Exchange Commission filing.

China has slapped a ban on finance sector businesses, including payment firms, from offering cryptocurrency services.

Banks in Singapore are leading blockchain and DLT developments while South Korean game developer WeMade entrusts its US$130 million crypto holdings to KODA.

Deutsche Bank Securities Services in Singapore and Singapore fintech firm Hashstacs, or STACS, today announced the completion of a tokenized securities proof-of-commercialization test named Project Benja.

The final phase of Polkadot’s rollout — with parachains — just kicked off. Here’s what you need to know about Polkadot and parachains, and why it matters.

The appetite in the United Arab Emirates for cryptocurrency investment is growing, with younger Emiratis more bullish about digital assets than their Western counterparts, according to a study by financial services firm Holborn Assets.

A group of cryptocurrency developers has launched a new coin named $STOPELON, aiming to limit Elon Musk’s influence over the cryptocurrency market.

American consumers have lost an estimated US$80 million in cryptocurrency investments since October 2020, according to new data from the Federal Trade Commission, which calculated that digital currency scams had jumped tenfold year on year.

Tesla founder Elon Musk has lost his position as the world’s second-richest person following a 2.2% decline in the electric carmaker’s share price.

FUD has taken over Bitcoin’s FOMO sentiment as iconic YouTube video ‘Charlie Bit Me’ gets immortalized as an NFT.

Fund managers have reacted swiftly to the latest price volatility in the cryptocurrency market triggered by recent Elon Musk tweets that have raised doubts over Tesla’s future relationship with Bitcoin, the Financial Times reports. Fast Facts: T Rowe Price President and Head of Investments Rob Sharps recognized the impact of cryptocurrencies across capital markets, but […]

New York-based artist Brian Donnelly, also known as KAWS, is launching his latest project in Britain, “KAWS:HOLIDAY UNITED KINGDOM,” featuring a 42-meter tall hot-air balloon that people can pay cryptocurrency to take rides in. Fast facts Crypto and fiat payment processor FTX Pay has partnered with Hong Kong production company AllRightsReserved to be the official […]

A single tweet by Tesla founder Elon Musk wiped more than US$55 billion off the cryptocurrency market after he implied on Sunday that the company might have sold its Bitcoin holdings. Fast Facts: Bitcoin’s price fell to below US$43,500 after Musk appeared to agree with a Twitter post that Tesla should divest its Bitcoin holdings. […]

A tweet about Dogecoin by Tesla founder Elon Musk provoked a terse response from high-profile figures in the cryptocurrency industry on Sunday. Fast Facts: Musk responded to a tweet in which Twitter user @itsALLrisky claimed that Dogecoin was superior to Bitcoin, tweeting back: “Ideally, Doge speeds up block time 10X, increases block size 10X & drops […]

It’s only a matter of time that digital currency ‘is going to overshadow all the other forms of money,’ says Neeraj Khandelwal of CoinDCX.

The Asian crypto industry reacts to the US Department of Justice and Internal Revenue Service money laundering probe into Binance. In South Korea, the nation’s largest internet company plans to join Bank of Korea’s CBDC ventures. Over in Singapore, Southeast Asia’s largest lender DBS Bank expands its crypto services for its private bank clients by […]

As many as 46 million U.S. consumers will consider using cryptocurrency to make retail purchases, regardless of whether or not they currently own crypto, a joint study by media outlet PYMNTS and Bitcoin payment service BitPay shows. Extrapolation indicates that purchases made using cryptocurrency could conservatively represent around 1% of all retail sales in the […]

An Australian computer scientist has become the latest person to claim to have developed Bitcoin, an assertion he hopes might bring him a £4 billion (US$5.6 billion) windfall. Craig Wright, who claims to have invented Bitcoin, and the identity behind the Satoshi Nakamoto pseudonym, has filed a lawsuit in a UK court to retrieve a […]

Bitcoin ATM provider Coinsource is expanding in Alaska after receiving the state’s first and only Alaska Money Transmitter License. Coinsource joins four other operators of Bitcoin ATMs — known as BTMs — in Alaska, none of which have such a license. The Alaska Division of Banking and Securities license provides a guarantee that money transmitters […]

Singapore’s DBS Private Bank has announced the launch of Asia’s first bank-backed trust offering for cryptocurrencies. The service, operated via the lender’s wholly-owned licensed trust subsidiary, DBS Trustee, allows clients to invest, custodize and manage their digital assets. The service will handle only those cryptocurrencies hosted on the DBS Digital Exchange — Bitcoin, Ether, Bitcoin […]

Binance, the world’s biggest cryptocurrency exchange, is being investigated by the U.S. Department of Justice and Internal Revenue Service over alleged illegal activities. Officials responsible for investigating money laundering and tax breaches have interviewed individuals familiar with Binance’s activities, according to a report by Bloomberg. In March, the U.S. Commodity Futures Trading Commission said it […]

Asia’s crypto industry reacts to Tesla backtracking Bitcoin payments, while Animoca Brands raises US$88,888,888 in a new funding round.

China-founded cryptocurrency exchange Huobi Group has launched a US$100 million investment arm to focus on early-stage blockchain and decentralized finance projects over three years. The new operation, named Huobi Ventures, will make strategic acquisitions to diversify and expand Huobi’s offerings and establish a US$10 million non-fungible token fund, the company said in a statement sent […]

Gibraltar’s distributed ledger technology regulations have been credited with the success of Latin American crypto platform BITSO’s latest US$255 million fundraising. The series-C equity round was led by hedge funds Tiger Global and Coatue Management, and boosted BITSO’s value to US$2.2 billion. Gibraltar’s DLT legislation is the world’s first purpose-built regulatory framework for businesses using […]

Facebook’s much-anticipated foray into cryptocurrency has got off to a modest start, with the project it is backing confirming that it will launch a stablecoin pegged to the U.S. dollar. The social media giant had announced ambitious plans to launch a global digital currency named Libra in partnership with Visa and PayPal in 2019, but […]

US carmaker Tesla has backed away from accepting Bitcoin as payment for its electric vehicles, citing the enormous environmental cost of mining and processing cryptocurrency transactions. In a Tweet posted on Wednesday, Tesla founder Elon Musk said the company would suspend vehicle purchases using Bitcoin. He said, “We are concerned about rapidly increasing use of […]

Other top blockchain and cryptocurrency news: How Dogecoin copycat SHIB coin vaulted into crypto’s top 20. China unveils fingerprint ID for digital yuan.

Shiba Inu is the new “Doge killer” and Chinese investors “can’t get enough” of it, says Gate.io, as #SHIB trends in Weibo.

The United States’ Securities and Exchange Commission has emerged as a top cryptocurrency regulator, bringing 75 enforcement actions and 19 trading suspension orders between July 2013 and 2020, according to a study by Cornerstone Research. “In the last seven years or so, the SEC has established itself as one of the main regulators policing the […]

Indonesia’s tax authority is studying a proposal to tax cryptocurrency trading as interest in digital currencies gains momentum among local investors. Directorate General of Taxes spokesman Neilmaldrin Noor was quoted by Reuters as saying, “If there is a profit or capital gain generated from a transaction, the profit is an object of income tax. So […]

Cryptocurrency investment in India has reportedly slowed to a trickle as both investors and cryptocurrency exchanges grapple with banks’ refusal to accept digital currency transactions. Despite the face-off, industry executives are hopeful that banking support will resume soon, according to a report by Moneycontrol. As reported by BloombergQuint, most crypto exchanges, including WazirX, CoinDCX, Zebpay, […]

Bangkok-headquartered financial consultancy and capital manager The Brooker Group is set to invest US$48 million in a portfolio of decentralized applications and decentralized finance tokens, a move that will see the company commit around half of its assets to the sector. The firm has identified what it describes in a press release as “huge” growth […]

Software company Block.one today announced the launch of new subsidiary Bullish Global. An independent entity that will operate under Block.one’s parentage, Bullish Global is focused on the rollout this year of Bullish, a blockchain-based cryptocurrency exchange, according to a press release sent to Forkast.News. Bullish aims to combine the performance, user privacy and compliance offered […]

FTX CEO Sam Bankman-Fried joins Forkast.News to share how the exchange is able to provide new financial products while still satisfying regulators.

Alpha Finance Lab has developed an oracle aggregator with data from oracle providers Band Protocol and Chainlink to address challenges related to scalability, flexibility and security as the decentralized finance landscape continues its rapid evolution. A data oracle is a platform that combines and integrates real-world data and application programming interfaces that control smart contracts. […]

Dogecoin is on its weekend hangover as trading volumes in India’s WazirX for DOGE reaches new heights. Meanwhile, ESG investments tackle crypto.

London-based regulatory technology startup ALT/AVE today launched its docStribute distributed ledger product, which aims to tackle the paper waste problem generated by companies in the financial services industry. Built on the Hedera Hashgraph network, docStribute enables financial institutions to distribute mandatory and highly regulated documents to customers, offering a secure and more sustainable digital alternative […]

The head of a Philippine electricity generator and distributor says that blockchain-enabled trading of electricity can thrive in the country, so long as the right regulatory environment exists.   Emmanuel Rubio, president and CEO of Aboitiz Power, told the Manila Bulletin blockchain offered an opportunity in the electricity market, particularly in unleashing the potential of […]

Canada-based alternative investment manager Ninepoint is to set aside a portion of its management fees to offset the carbon footprint of the Bitcoin held in an exchange-traded fund it operates. Its aim to provide investors prioritizing environmental, social and governance investment opportunities with carbon-neutral exposure to the world’s biggest cryptocurrency. Cryptocurrencies have attracted considerable criticism […]

Cambodian lender SBI LY HOUR Bank has launched the first blockchain-based remittance services between Cambodia and Vietnam.   SBI LY HOUR Bank is providing the new services with Vietnamese lender TP Bank, in which its parent, SBI Holdings, has a stake, according to a report by the Phnom Penh Post. The lender is the first […]

Cryptocurrency startup Dfinity is set to unveil an “internet computer,” which it says can provide a faster, cheaper alternative to Ethereum and can rival Amazon Web Services and other cloud computing companies, according to a report by the Financial Times. The company’s self-described internet computer is a group of technologies designed to support next-generation decentralized […]

Canadian manufacturing and logistics firm Geometric Energy Corporation has announced that its Doge-1 Mission to the Moon — the first commercial lunar payload in history — will be paid for in its entirety with the meme-inspired cryptocurrency Dogecoin. The moonshot will involve a collaboration between Geometric Space Corporation mission management and SpaceX that will carry […]

Union Bank’s financial supply chain platform to be integrated with XLOG’s logistics platform. Union Bank of the Philippines and fintech firm XLOG have teamed up to offer the Philippines’ first blockchain-powered supply chain financing solution embedded in a logistics platform. “We are firm believers in how blockchain technology can bridge gaps in different industries. We […]

Financial artificial intelligence firm seeks to use technology to mitigate risks in complex, volatile trading environment. BlockBank, which develops artificial intelligence for both decentralized and traditional, centralized finance, is using its technology to bring AI-enabled analytics and risk management practices to the crypto space. The company is working to offer a built-in fiat currency gateway […]

While Bitcoin Cash surges, we visit a Japanese coffee shop owner who just started accepting BCH as payment.

Currency-trading giant says crypto trading, custody and financing all under consideration amid growing demand from asset managers, hedge funds. Citigroup is considering launching cryptocurrency services following a surge in interest in digital currencies among its clients, according to a report by the Financial Times. The report cited Citi’s global head of foreign exchange, Itay Tuchman, […]

R3’s Corda — one of the most widely used blockchains of Corporate America — is coming to China. What does it mean for the US and Europe?

Developer of Arte by Antonio Citterio partners with blockchain platform to allow buyers to pay with cryptocurrency. Sapir Corp, the developer of the Surfside district condominium, has teamed up with blockchain and securities trading platform SolidBlock to allow buyers of the luxury residences to purchase them using cryptocurrency. The partnership between Sapir Corp and SolidBlock […]

Central Asian nation follows Pakistan and Afghanistan with blockchain-powered digitization initiative. Tajikistan is partnering with the Fantom Foundation to develop e-government infrastructure using Fantom’s blockchain-based IT products. Under the deal, the Ministry of Industry of New Technologies will provide Fantom with access to its data flows and documentation to develop a customized customer relationship management/management […]

Startup association presents recommendations for regulatory framework as it pushes boost for business instead of blanket ban. IndiaTech.org, an industry association representing startup founders and investors, has called for the registration of homegrown, locally registered cryptocurrency exchanges in a five-point policy framework aimed at crypto regulation. It proposes that cryptocurrencies should be given the status […]

With Bitcoin Cash prices rising in advance of its May 15 network upgrade, investors want to know: What’s the difference between Bitcoin Cash and Bitcoin?

Win for tax enforcer as California federal court gives it green light to seek information on Kraken exchange cryptocurrency deals. The U.S District Court for the Northern District of California has given the Internal Revenue Service approval to issue a “John Doe” summons seeking information on customers of San Francisco-based cryptocurrency exchange Kraken. A John […]

New iteration outperforms predecessor amid concerns over costs, complexity. Uniswap founder Hayden Adams has declared Uniswap’s v3 launch day a greater success by volume than that of its v2 iteration, despite a slew of complaints from users about its costs. Adams wrote in a tweet dated May 7 that during its first 24 hours live, […]

More than $200 million of assets seized from firm identified as VGlobal. South Korean police have raided a Seoul-based cryptocurrency exchange over an alleged multi-level marketing fraud. The exchange, identified as VGlobal, according to a report by Bitcoin.com, stands accused of stealing millions of dollars from investors. According to the Yonhap news agency, police raided […]

The Chia craze keeps on going while the Indian crypto industry speaks out against banks blocking crypto transactions.

Appetite for auction remains robust despite delays, pressure on Polkadot token. Since the Polkadot mainnet launch in 2020, the planned launch of the network’s eponymous and Kusama parachains has generated much eager anticipation. Yet delays to the auction of slots that have put pressure on Polkadot’s native token appear not to have dampened enthusiasm for […]

National Payments Corporation of India refuses to ban cryptocurrency trading, putting decision on whether to block trades in hands of lenders. India’s national payments authority has handed banks the responsibility for deciding whether or not to ban cryptocurrency trading. The National Payments Corporation of India has advised lenders across the country to impose bans on […]

Tie-up between Bitcoin trading platform and fintech firm will allow bank customers to use the cryptocurrency in their accounts. NYDIG, the Bitcoin subsidiary of alternative asset manager Stone Ridge, and fintech heavyweight FIS have joined forces in an industry-first partnership that will allow banks to offer customers the ability to buy, sell and hold Bitcoin […]

South Korea’s finance department on Wednesday announced a new rule imposing a 20% capital gains tax on cryptocurrency transaction gains starting in 2022. However, cryptocurrency investors are entitled to a tax deduction for expenses incurred during mining. The country’s Ministry of Economy and Finance explained cryptocurrency transaction gains exceeding 2.5 million won (about US$2,230) would […]

Football team adds world’s biggest crypto asset manager to roster of corporate sponsors as sector firms make inroads into sports. The New York Giants have announced an exclusive partnership agreement with digital currency asset manager Grayscale Investments, which had $46.6 billion of assets under management as of April 30. The arrangement, a first in the […]

Institutional interest propels cryptocurrencies into mainstream for wealthy investors looking to diversify portfolios. High net worth Australians are committing increasing sums in cryptocurrencies as digital assets move from the fringes of investment markets and become steadily more mainstream. Leigh Travers, executive director of technology investment firm DigitalX, says he has observed a growing trend toward […]

Finland-based mobile phone manufacturer Nokia unveiled its blockchain-enabled Nokia Data Marketplace on Wednesday, said to offer monetized data exchange and analysis capabilities. In a statement, the company said the service would allow its partners from various industries to collaborate via private blockchain, leveraging AI and automated mechanisms in real time to address rapidly growing data […]