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The Monetary Authority of Singapore (MAS) wants to build the city-state into a “crypto hub” fueled by instant settlements, tokenized assets and programmable money, not “speculating in cryptocurrencies,” Ravi Menon, the central bank’s managing director, said at the Singapore FinTech Festival on Thursday. 

Digital wallet service provider Cryptillian Payment Systems has requested to file an amicus brief to support Ripple Labs Inc. in the latter’s ongoing court battle against the U.S. Securities Exchange Commission (SEC).

Digital asset and blockchain highlights of event draw huge crowds, even as industry figures say they want the technology behind them to become just a normal component of the finance system.

Markets: Bitcoin and Ether fall with crypto top 10 as Fed raises rates 75 bps

Singapore-based StraitsX, a payments infrastructure for digital assets, will pilot stablecoin applications at the ongoing Singapore Fintech Festival. 

As governments look towards zero carbon emission goals, new means of creating climate-related financial products are being tested on the blockchain.

While October saw the emergence of two very popular NFT collections, sales failed to break US$500 million in the lowest figures since July 2021.

DBS, the largest bank in Southeast Asia, said it tested trading of foreign exchange and government bonds using permissioned decentralized finance (DeFi) liquidity pools on a public blockchain as part of the city-state’s Project Guardian exploration of blockchain in finance.

The bank is in the center of developments shepherded by the Monetary Authority of Singapore to explore digital financial technologies emerging around blockchain.

Bitcoin and Ether were little changed in Wednesday morning trading in Asia along with most of the cryptocurrency top 10 by market capitalization, excluding stablecoins.

Bitcoin and Ether traded up in Tuesday afternoon trading in Asia, while memecoins Dogecoin and Shiba Inu were the biggest gainers among the top 10 coins by market capitalization excluding stablecoins.

Crypto exchange Coinbase has requested to file an amicus brief in support of Ripple to weigh in on the ongoing lawsuit between the SEC and Ripple.

Bitcoin and Ether prices fell in Tuesday morning trading time in Asia, while memecoin Dogecoin and Shiba Inu had the biggest gains among the top 10.

A hybrid middle ground between Web 2.0 and Web 3.0 is necessary before full Web 3.0 integration, argued Jehan Chu, co-founder and managing partner of blockchain venture capital firm Kenetic Capital, adding that “it’s not the fully decentralized future we were promised, but it’s the one we’re going to get first.”

Bitcoin and Ether fell in Monday morning trading in Asia, along with most other top 10 cryptocurrencies by market capitalization, excluding stablecoins.

The use of blockchain technology in finance will have an impact similar to that of YouTube on the media industry, said Lee Jun-haeng, CEO of South Korea-based blockchain company Streami.

Busan, S. Korea’s designated blockchain city, plans to make itself a global center for the technology. Binance, the world’s largest crypto exchange, plans to help.

Bitcoin’s recent price gains came to a halt in Friday morning trading in Asia though it remained above the US$20,000 support line.

The National Bank of Kazakhstan [NKB] will be testing the integration of their central bank digital currency (CBDC) on the BNB Chain.

Hong Kong is mulling plans to legalize retail crypto trading to regain its status as a global digital asset hub.

Bitcoin extended its rally and rose nearly 2%, with top 10 cryptocurrencies by market capitalization, excluding stablecoins, mostly higher on the day, led by Dogecoin’s 18% gain as Elon Musk’s purchase of Twitter neared completion.

Binance CEO Changpeng Zhao believes education is key to a wider, safer adoption of blockchain technology.

Pixelated pictures and cartoonish drawings have typically dominated the world of Non-Fungible Tokens (NFTs), but some exhibits at Hong Kong’s Xperience art fair show new means of applying the technology.

Bitcoin continued its price run higher in Thursday morning trading in Asia as it neared US$21,000. Ether and the rest of the top 10 cryptocurrencies by market capitalization, excluding stablecoins, also rose. The total crypto market cap exceeded US$1 trillion for the first time since mid-September. Leading memecoin Dogecoin was the best performer, while the […]

Hong Kong-based crypto investment firm Q9 Capital has received a provisional virtual asset approval from Dubai’s Virtual Asset Regulatory Authority (VARA), the company said on Wednesday in a statement shared with Forkast.

The central bank is also considering options such as banning crypto firms from offering credit facilities, leverage or staking services to retail traders.

The People’s Bank of China (PBOC) has reminded financial technology (fintech) firms to comply with financial laws and regulations, in the central bank’s new set of guidelines released earlier this month.

Bitcoin posted a three-week high in afternoon trading in the Asia time zone. Ether led gains across all top 10 cryptocurrencies by market capitalization, with a 12% surge. Cardano’s ADA and Solana’s token also registered double-digit gains.

Meta is collaborating with a Taiwan LGBT advocacy group and a local cryptocurrency exchange to issue charity NFTs as part of the Taiwan Pride celebration.

The lead counsel for the plaintiff in the case has called Friday’s ruling a decision with implications for the global blockchain industry

South Korea’s Busan signs agreements global cryptocurrency exchanges Crypto.com and Gate.io to grow the city’s blockchain ecosystem.

Reddit non-fungible token (NFT) avatar trade volumes hit an all-time high, with sales exceeding US$2.5 million in the past 24 hours.

The singer-actress and son Harrison Yu said they launched the Theirsverse NFT brand in New York to engage marginalized groups in the early building of Web 3.0.

The BIS Innovation Hub Hong Kong Centre has completed its CBDC study, Project Aurum, which examined the feasibility of intermediated CBDCs and CBDC-backed stablecoins.

Bitcoin rose in Monday evening trading in Asia in a mixed day across the top 10 cryptocurrencies by market capitalization, excluding stablecoins. Ether gained more than 2% and Polygon had a strong run up of more than 6%. XRP fell. Different picture for Hong Kong stocks, where the Hang Seng Index plunged to lows last […]

Bitcoin and Ether were both gaining in Monday morning trading in Asia, as were all other top ten cryptocurrencies by market capitalization, excluding stablecoins.

South Korean police raided local software company Hancom and home of chairman Kim Sang-cheol on Thursday amid speculation that Kim created a slush fund using crypto token Arowana, according to local media reports.

Bluesky, the decentralized social media protocol founded by former Twitter CEO Jack Dorsey, announced on Friday morning Hong Kong time that 30,000 people had signed up on its preview app waitlist 48 hours after it was announced.

Bitcoin fell, but traded back above the US$19,000 support level in Friday morning trading in Asia. Ether lost ground along with most other top 10 cryptocurrencies by market capitalization, excluding stablecoins, but leading memecoin Dogecoin rose and Tron also edged higher. See related article: Twitter user prevents 200 billion BitBTC bridge exploit, highlighting major vulnerability […]

The crypto market continued its sluggish performance during Thursday evening trading in Asia, with Bitcoin and Ether lower and XRP’s 0.63% rise marking the biggest gain among the top 10 cryptocurrencies by market capitalization, excluding stablecoins. See related article: Japan eases token vetting process to expand crypto offerings: report Fast facts Bitcoin fell 0.35% in […]

Kwon Do-hyung, the cofounder and chief executive officer (CEO) of Terraform Labs Pte. Ltd., also known as Do Kwon, left Singapore last month and landed in Dubai, United Arab Emirates, South Korean prosecutors confirmed with Forkast.

Bitcoin and Ether both fell in Thursday morning trading in Asia and with the exception of stablecoins, all other top 10 cryptocurrencies by market capitalization lost ground.

Top blockchain and crypto news: Mark Zuckerberg’s empty metaverse. South Korea to roll out blockchain IDs. Macau bets on digital money.

The first XRP Ledger (XRPL) Ethereum Virtual Machine (EVM) compatible sidechain has gone live on the parallel test network, XRPL Devnet, Ripple developers announced on Monday.

Markets: Bitcoin price rises amid sweeping gains across top 10 crypto, Polygon increases 7%

“No finders keepers’ law”: Coinbase considers legal action against some 1,000 users in east Europe’s Georgia who took advantage of a pricing glitch on the platform.

The Commodity Futures Trading Commission and the Securities and Exchange Commission of the U.S. are investigating whether bankrupt crypto hedge fund Three Arrows Capital (3AC) misled investors about its balance sheet and failed to register with the two agencies, according to a Bloomberg report which cites two people familiar with the matter. See related article: […]

Bitcoin and Ether rose as all top 10 tokens by market capitalization, excluding stablecoins, gained in Tuesday morning trading in Asia. Polygon led the list. Solana followed on news a leading non-fungible token (NFT) marketplace will suspend transaction fees. See related article: Gold commodities market could enter the blockchain, according to new industry initiative Fast […]

A partnership between the World Gold Council (WGC) and Swiss-based DLT infrastructure and application provider aXedras Group could make gold trading more accessible and streamlined, though insiders are skeptical, according to a Bloomberg report Sunday.  See related article: Diamond Standard raises US$30 mln to ramp up tokenized asset distribution Fast facts The WGC’s initiative “Gold247” […]

Meta Platforms Inc.’s internal documents show the company’s metaverse platform Horizon Worlds is underperforming in terms of attracting and maintaining users, the Wall Street Journal (WSJ) reported Saturday. See related article: Meta’s attempts at building a metaverse will ‘misfire’: Vitalik Buterin Fast facts Meta’s initial goal was to gather 500,000 monthly active users (MAU) on […]

Bitcoin and Ether were trading higher along with top 10 tokens by market capitalization excluding stablecoins in Monday morning trading in Asia, as the world’s largest cryptocurrency remained above US$19,000. XRP was the only token on that list to fall. See related article: Ethereum supply would have grown by 350,000 tokens under PoW Fast facts […]

Decentralized finance sites are the preferred choice of hackers as crypto heists look to be on course to hit a record high this year.

China’s judicial blockchain platform has stored more than 2.6 billion pieces of evidence, a Supreme People’s Court spokesman said at a press conference on Thursday, according to a report by the local media Legal Daily. See related article: China has seen blockchain’s future and it doesn’t include cryptocurrencies  Fast facts See related article: How blockchain […]

The Indian police unit in Firozabad city in the northern state of Uttar Pradesh has launched an online complaint portal powered by Ethereum scaler Polygon. See related article: Blockchain in India got off on wrong foot, says former finance chief  Fast facts The pilot portal, policecomplaintonblockchain.in, leverages blockchain technology’s immutability, which means complaints cannot be […]

‘Risky or illicit’ transactions represent the highest rate of any region measured by the blockchain analytics firm.

Cryptocurrency exchange Blockchain.com has received in-principle approval from the Monetary Authority of Singapore (MAS) for a license to offer “digital payment token” services in the city-state.  See related article: Singapore’s MAS says needs to do better job explaining crypto policy Fast facts Blockchain.com is the second crypto exchange to earn the central bank’s in-principle approval […]

OpenSea, the peer-to-peer non-fungible token (NFT) marketplace, has launched native support for the Avalanche blockchain, according to the platform’s verified Twitter account. See related article: Warner Music taps OpenSea NFT marketplace to guide artists to Web3 Fast facts Starting on Oct.12, content creators on Avalanche can display, list, and trade their NFTs on the world’s […]

South Korean media has reported that local crypto exchanges may become a “playground” for North Korean hackers.

The crypto world has been watching how one of the world’s largest blockchains responds to a hack last week and the questions it raises about the state of decentralization in the industry.

Bitcoin fell but held above US$19,000 in Wednesday morning trading in Asia as the world’s leading cryptocurrency continued its month-long dalliance with that support level. Excluding stablecoins, most of the top ten cryptocurrencies by market capitalization fell, led by Solana. Dogecoin was the only token on the list to gain ground. See related article: BNB […]

Malaysia looks towards blockchain in its future plans- but how could a national public blockchain help?

Singapore-based Coinhako cryptocurrency exchange, one of a handful to have a full license to operate in the city-state, has launched “Coinhako Treasures” to offer more products that suit the needs of institutional clients, like corporates and family offices, as it seeks to grow its institutional user base.   See related article: How a market slump may […]

The founder of blockchain network Tron, Justin Sun, and crypto exchange FTX founder Sam Bankman-Fried each denied for a second time that they have participated in purchasing a majority stake in Huobi Global, after crypto media outlet Wu Blockchain said on Monday that Sun was actually the Chinese crypto exchange’s behind-the-scenes purchaser, with Bankman-Fried was […]

What’s wrong with ‘fat protocols’ like Ethereum and Solana, and why should there be alternatives for the little guys? Yaoqi Jia of AltLayer explains.

The Monetary Authority of Singapore is exploring blockchain-based payments solution to solve the challenges in cross-border transactions.  See related article: Singapore warms up to crypto industry — on its own terms Fast facts The current state of cross-border payments “is slow, costly, opaque, and inefficient, relying on an archaic network of correspondent banks,” Ravi Menon, […]

When times are tough, a DAO must trim fat and focus on providing a better product or service to its community, writes Redmption of Harvest Finance.

Through quick identification and cooperation of network validators, most funds were saved in last week’s BNB Chain exploit.

Bitcoin has gained slightly but was still trading below US$20,000 on Monday morning in Asia, having fallen below that support line late last week after fluctuating around that level for most of the past month. Ether and the rest of the crypto top 10 by market capitalization also rose slightly, with XRP seeing by far […]

The Reserve Bank of India (RBI) will soon begin to pilot the digital rupee for specific use cases, it said in a concept note on its central bank digital currency (CBDC). See related article: Sweden’s central bank to test use of retail CBDC for instant payments Fast facts India’s central bank said in the concept […]

MY E.G. Services Berhad (MYEG) and Mimos Technology Solutions Sdn Bhd (MTSSB) signed a memorandum of understanding (MOU) on Thursday to co-develop and operate Malaysia’s national blockchain infrastructure to onboard the nation’s private and public sectors to Web 3.0.  See related article: Huobi Global talking to Malaysian regulator about being put on investor alert list […]

Binance’s BNB Chain has come back online after being suspended earlier in the morning when an exploit was identified, the blockchain announced on Twitter on Friday afternoon in Asia. See related article: Binance suspends BNB blockchain on potential exploit; Peckshield reports US$572 mln hack Fast facts Changpeng Zhao, cofounder and chief executive officer of Binance, […]

Emerging markets dominated the 2022 Global Crypto Adoption Index, with Latin America second in transaction volume growth.