Search results: service

The fall of Silvergate, SVB and Signature has left crypto firms scrambling for new banks. Will crypto banking head offshore for the long term?

The Monetary Authority of Singapore (MAS) aims to publish cryptocurrency and stablecoin consultations feedback by the middle of this year, it said Monday.

Over 80 foreign and Mainland China companies have expressed their interest in establishing a Web3 company in Hong Kong, ahead of new crypto regulations that will take effect from June

Crypto in Taiwan remains largely unregulated, but lawmakers have requested the cabinet to appoint a regulator by May 16 to oversee all things crypto.

Paris-based Kaiko will move its Asian headquarters to Hong Kong as it sees growing crypto-related opportunities in the city.

Salesforce has partnered with Polygon Labs to help its clients develop non-fungible token (NFT) based loyalty programs on the Polygon blockchain.

Signum Digital said it’s the first company to win preliminary approval in Hong Kong to operate a platform to trade security tokens.

As bank after bank topples, fingers are pointing everywhere. But crypto is not to be blamed for this unfolding crisis, writes Winston Hsiao of XREX.

US, and German shuttered ChipMixer, a cryptocurrency service that allegedly laundered more than US$3 billion in crypto since 2017.

Top blockchain and crypto news: USDC stabilizes after SVB collapse. Silvergate closes shop. China tightens financial supervision.

Bitcoin and Ether rose on Wednesday afternoon in Asia, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization. Solana and Polygon were the biggest gainers, both rising above 5% in the last 24 hours.

Digital asset platform Anchorage Digital will lay off 75 employees as it restructures to meet regulation challenges.

The decision to shut down Signature Bank at the weekend was not related to cryptocurrencies, the New York regulator told Reuters on Tuesday.

Bitcoin and Ether continued strong price gains, with most of the top 10 non-stablecoin cryptocurrencies logging advances for the past seven days.

India’s crime fighting agencies have been investigating crypto exchanges and individuals on money laundering charges and have now put the onus on exchanges to report suspicious transactions.

The recent U.S. banks fallout is a stress test for both traditional finance and digital assets but to weather the storm side by side is a powerful opportunity, says Circle Chief Strategy Officer Dante Disparte.

What began as novel collectibles and rampant speculation is maturing into real-world utility across a multitude of industries, writes Tom Chalmers of Banxa.

Euler Finance, a decentralized finance lending protocol has lost approximately US$197 million in an exploit, according to online crypto security analysts.

U.S. regulators closed New York-based Signature Bank, one of the biggest lenders in the crypto industry, due to risks of a systemic failure.

Bitcoin and other leading cryptocurrencies slid Friday morning in Asia, tracking equities amid red flags on interest rates and concern about fallout from the Silvergate collapse.

In the race to tame crypto’s excesses, we need to avoid regulatory clashes while DeFi draws lessons from TradFi, writes Rachel Lin of SynFutures.

NFT sales and market capitalization show rising investor activities, but recycled liquidity and wash trading may tell a different story, Forkast Labs co-CEO says.

Contagion, regulation worries grow after crypto bank’s demise

South Korea is investing 27.7 billion Korean won (US$21 million) into local services looking to utilize the metaverse, the ministry of science announced Wednesday, following Tuesday’s news that it would establish a US$30 million metaverse fund to help startups expand their businesses. See related article: Japanese tech, finance firms sign pact to build metaverse economic […]

Silvergate Capital said Wednesday it will cease operations and liquidate its bank unit.

The shuttering of Silvergate Bank was not unexpected, but it still drove Bitcoin and most of the top 10 non-stablecoin cryptocurrencies lower on Thursday morning in Asia.

The Thai Finance Ministry will waive corporate income tax and value-added tax for firms that conduct initial coin offerings (ICOs), according to a spokesperson.

Top blockchain and crypto news: Silvergate woes spark bankruptcy talk. LDO dips on false enforcement rumors. Chinese leaders push digital development.

Stablecoins could have a place in the U.S. financial services sector if appropriate regulation is put in place, Federal Reserve Chairman Jerome Powell said on Tuesday at a hearing before Congress.

Ethereum validators are benefiting from the increasingly heated competition between the two largest NFT marketplaces that is driving up gas fees, but the windfall may not last much longer.

WeChat, China’s leading social networking and payment app, has integrated the digital yuan into its payment network, which may help adoption of the CBDC.

The Korea Customs Service has identified US$4.3 billion worth of illegal foreign currency transactions last year involving cryptocurrencies.

U.S.-based cryptocurrency exchange Kraken is working on establishing its own bank, despite the recent regulatory headwinds

Bybit suspended U.S. dollar deposits and withdrawals via wire and bank transfers due to “service outages from a partner.”

Bitcoin and other top 10 cryptocurrencies fell on Monday morning amid concern about the troubled crypto bank Silvergate.

Bitcoin and Ether fell by the end of Asian trading hours on Friday afternoon, together with all other top 10 non-stablecoin cryptocurrencies by market capitalization, weighed by the financial woes of crypto-focused bank Silvergate.

Look for blockchain, self-reliance in technology discussions in China’s biggest political meetings of the year as China’s President Xi Jinping’s aims to build a digital economy.

USDC issuer Circle said Friday that it is withdrawing from “certain services that involve” California-based cryptocurrency bank Silvergate.

DAOs are supposed to be democratic, egalitarian and inclusive, but those ideals are far from the current reality, writes Awa Sun Yin of Namada.

Bitcoin and Ether prices slumped in Friday morning trading in Asia, along with all other top 10 non-stablecoin cryptocurrencies.

Australia has outlined potential use cases and providers for a central bank digital currency (CBDC), with a pilot program to be launched in the coming months.

China is promoting digital yuan to Hong Kong visitors, but has not received much enthusiasm so far.

South Korea will expand the existing law on voice phishing to include crypto related phone scams.

DBS bank’s digital exchange, which serves institutional clients, said macroeconomic conditions last year were not suitable for security token offerings (STO), but it will explore opportunities for such listings in 2023 and plans to add more crypto tokens.

Top blockchain and crypto news: Blur wash trading explodes. Coinbase extends developer foray with Base test. Hong Kong crypto embrace gets Beijing’s nod.

Bitcoin fell in Wednesday morning trading in Asia, although held above the US$23,000 lower resistance line. Polkadot led the losers, while Litecoin rose.

Bitcoin and Ether fell in Tuesday afternoon trade in Asia, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization, despite U.S. equities rising on Monday after last week’s selloff. Asian stock markets mostly rose on Tuesday as investors absorbed key economic indicators across the region.  

Chinese smartphone maker Huawei partnered with multiple overseas Web3 firms, as part of the company’s blockchain and metaverse venture.

Coinbase, the world’s second largest cryptocurrency exchange, said Monday it is suspending trade in the Binance USD (BUSD) as of March 13.

The Metabirkins case makes clear that NFT trademarks belong to the original creator, bolstering future profit-making opportunities for fashion houses as well as other companies, writes Justin Banon of Boson Protocol.

Lotte Group plans to expand its non-fungible token (NFT) business onto the global market through a partnership with the Polygon blockchain.

The blockchain sector’s gender divide is narrowing. Its newness and founding ideals also allow for more flexible workplaces, writes Anastasia Kor of Choise.com.

A Taiwanese lawmaker has reiterated that the cabinet will have to mandate an acting central authority to shape regulatory frameworks and development roadmap for the cryptocurrency industry by May 16, a move that would push Taiwan closer to adequate crypto regulation.

NBA will partner Ant Group – Chinese tech giant Alibaba’s fintech affiliate – to issue NBA-themed NFTs and create content on Alipay.

Gate Group announced on Wednesday that it is applying for a new cryptocurrency license in Hong Kong, joining a growing list of Web3 firms entering the city.

Hong Kong’s proposed crypto licensing regime received Huobi Global’s pledge to return to the city, and more companies may follow, industry experts told Forkast.

Top blockchain and crypto news: Blur’s success spurs changes at OpenSea. Is Binance eyeing US exit? Taiwan asset disclosure rules may include crypto.

Hong Kong is allocating HK$50 million (US$6.37 million) to develop its Web3 sector, the Financial Secretary Paul Chan announced Wednesday.

Coinbase reported an increase in its Q4 earnings on Tuesday, even as overall users declined throughout the period.

Bitcoin and Ether fell on Wednesday morning trading in Asia along with all other top 10 non-stablecoin cryptocurrencies by market cap.

Multi-billion dollar bankruptcies, fraud allegations, scandal, and plunging cryptocurrency prices in 2022 all characterized why investors came to distrust centralized exchanges. Yet, some commentators expect platforms to become ever more centralized … and regulated.

FTX Japan, the Japanese subsidiary of Sam Bankman-Fried’s bankrupt FTX, resumed withdrawal of customer holdings on Tuesday.

Bitcoin and Ether prices rose in Tuesday afternoon trade in Asia, while all other top 10 non-stablecoin cryptocurrencies were mixed. XRP led gains at 2.37%, while Solana and Polygon dropped saw the largest declines.

The Philippines’ Bataan province wants to streamline systems and procedures of government services through blockchain technology and tokenization, Bataan Governor Joet Garcia told Forkast.

The Hong Kong Securities and Futures Commission is calling for public feedback on its new proposals to regulate the crypto industry set to take effect in June.

Taiwan’s Ministry of Justice said on Wednesday that it may be adding cryptocurrencies to the list of properties for public servants to declare. 

The cryptocurrency industry this week reacted to the recent moves by U.S. authorities against Kraken and Paxos. Meanwhile, India has been calling for a collaborative approach to crypto regulations.

Bitcoin and Ether fell Friday morning in Asia, curtailing a strong run up in the week, after the U.S. January PPI rose much faster than expected.

The SEC’s latest heavy-handed approach toward crypto will leave investors less protected while benefitting dodgy offshore companies, writes Danny Talwar of Koinly.

Bitcoin broke through the US$24,000 price ceiling for the first time in two weeks to reach its highest price since mid-August in Thursday morning trading in Asia, as investors liquidated almost US$70 million of mostly short-position bets.

Top blockchain and crypto news: Paxos halts BUSD issuance. Kraken faces disclosure charges. Beijing backs new blockchain research center.

DBS Digital Exchange (DDEx), one of Asia’s first bank-backed digital exchanges, has reported a year-on-year increase of 80% in Bitcoin traded in financial year 2022, while the number of Bitcoin custodized with the bank doubled from 2021.