Contributor
Ningwei is a Research Associate at Forkast. She focuses on China beat with her previous experiences in major Chinese media of Caixin, CCTV and People's Daily. Ningwei holds a Masters degree in Journalism from the University of Hong Kong.
Regulation
Turkey’s deputy finance minister says a draft bill to create a cryptocurrency regulatory framework will be submitted to parliament in October, according to a report by CNN Türk. Fast facts The bill will define different types of virtual currencies and principles for their issuance and distribution. The country’s Capital Markets Commission will supervise companies handling […]
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Regulation
Britain’s financial crimes enforcement agency is set to launch a campaign costing £11 million (US$15.2 million) to warn young people about the risks of investing in cryptocurrencies. Fast facts Financial Conduct Authority CEO Nikhil Rathi said social media users aged 18 to 30 would be the target audience. “As with the GameStop episode, more people see investment as […]
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Regulation
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 […]
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Regulation
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) […]
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DeFi News
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. […]
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Regulatory News
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 […]
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Advanced Blockchain Technologies
The Bureau of Economics and Information Technology in the Chinese city of Wuhan plans to cultivate more than 100 blockchain companies within three years. Fast facts Authorities in Wuhan issued a document outlining the blueprint, according to which rewards of up to 2 million yuan (about US$309,000) and blockchain technology research program subsidies of 500,000 yuan (US$77,250) […]
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Regulation
Crypto exchange Huobi yesterday issued an announcement in simplified Chinese saying that it would implement a “T+1” withdrawal freezing time for all over-the-counter trades, meaning that traders can transfer cryptocurrency out only 24 hours after depositing it. In some cases, the freeze will last up to 36 hours. Fast facts At present, the announcement appears […]
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Regulation
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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Regulation
Chinese stock trading app Futu Niuniu has suspended Chicago Mercantile Exchange cryptocurrency futures services and stopped supplying crypto market information.
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