Search results: China crypto ban

Except for a bout of recession in March 2020, Bitcoin has been fairly resilient to the vagaries of global financial crisis. But with murmurs of another recession gaining steam, Forkast examines the cryptocurrency’s relevance as a safe haven.

There’s never a dull moment in the news business. Now, as media outlets explore blockchain, the Associated Press’s Dwayne Desaulniers says more change is coming.

Bilibili, a video streaming platform popular with China’s Generation Z, Thursday announced a batch of Ethereum-based non-fungible tokens (NFTs) for sale overseas. See related article: Resist the temptation on NFTs, Chinese state-backed developer says Fast facts Bilibili said the NFTs will be a series of auto-generated characters with different features such as faces, clothes, skin […]

As many as 600 NFTs featuring a montage of audio calls and complaints made by Shanghai residents as they interacted with medical staff and neighborhood compound managers have appeared on OpenSea.

The Bitcoin Mining Council, a voluntary forum of cryptocurrency mining companies supported by Michael Saylor’s MicroStrategy Inc., said its latest quarterly survey showed the global Bitcoin mining industry is relying more on electricity from sustainable sources.  See related article: Can Ethereum’s proof-of-stake transition save the planet? Fast facts The global Bitcoin mining industry had a […]

Joe Biden’s executive order on crypto has put America on course for solid success in the digital asset space, says the Blockchain Association’s Kristin Smith.

While the cryptocurrency industry continues to wait with bated breath for a spot-traded Bitcoin exchange-traded fund (ETF) to be approved in the U.S., three separate crypto funds were given the green light in Australia this week.  Australia’s ETFS Management (AUS) Ltd., or ETF Securities, launched a Bitcoin and an Ethereum fund, in partnership with Switzerland-based […]

Bitcoin miners saw a 1.26% drop in mining difficulty on Thursday, the third time this year, while the price fell to less than US$40,000. See related article: Cryptos slump over inflation, Shanghai lockdown and war concerns Fast facts The mining difficulty level is now at 28.23 trillion at block height 731,808, after it saw an […]

In an exclusive interview with Forkast, the head of government-founded Blockchain-based Service Network (BSN) cautioned against packaging NFTs as investment products despite the temptation to profit off the euphoria.

Top blockchain and crypto news: Market contagion hits crypto. Ethereum developer pays price for bad Korea move. China whacks more crypto miners.

The Depository Trust & Clearing Corporation (DTCC), one of the largest financial service providers in the U.S., unveiled “Project Lithium” to test infrastructure in support of a U.S. digital currency using blockchain technology.  See related article: 5 US digital dollar pilots launching to chase China’s CBDC lead Fast facts Project Lithium is based on blockchain […]

The market for non-fungible tokens soared, then slumped. That doesn’t worry Spores Network’s Duc Luu, who’s betting on brands to fuel its future growth.

Authorities in Hong Kong moving to block retail investors from accessing non-derivative crypto products could undermine the presence of Bitcoin ATMs in the city with the most crypto ATMs in Asia.

By offering China’s digital currency in trial as a payments option in all pilot areas, payments giant WeChat Pay is paving the way for the wider adoption of the digital yuan in the world’s most advanced digital payments market. See related article: China’s digital yuan is now in 23 cities Fast facts WeChat Wednesday said […]

The metaverse is envisioned as the next iteration of the internet, introducing an immersive digital universe. Find out what this means for the future of our online lives — beyond all the marketing hype — in this Forkast.News explainer.

Our virtual and in-person events bring people together to join conversations that matter. Previous Events Crypto Rising CBDCS & Stablecoins: The Asia Perspective We are in a history defining moment where money is evolving. It’s not easy to replicate cash, and central bankers around the world face unique challenges. The U.S. is softening up to […]

Pioneers take arrows. No one knows it better than Binance. The world’s biggest cryptocurrency exchange by volume wants to set the industry standard when it comes to compliance and security as past missteps hold it in good stead.

As the world’s biggest cryptocurrency exchange battles the onslaught of regulators globally, cofounder Yi He is stepping out of the shadows to help steer the company.

DLT projects are defined by their network effects, writes Donald Thibeau of HBAR Foundation. Here’s why open networks and community are critical for success.

Binance is racing to anchor its sprawling global operations as regulators in China, where it was founded in 2017, go after firms for lax know-your-customer practices.

Xiamen has revealed its three-year action plan to nurture its cluster of metaverse firms involved in non-fungible tokens (NFTs), VR/AR, chips and related hardware with over 100 million yuan (US$15 million) in revenue, according to the local government’s working plan. See related article: ‘Metaverse’ enters government radar at China’s Two Sessions Fast facts See related […]

Russia State Duma deputy and Energy Committee chairman Pavel Zavalny proposed Bitcoin and national currencies as payment options for energy exports to “friendly countries,” such as Turkey and China, at a press conference on Thursday. See related article: EU says crypto included in sanctions against Russia and Belarus Fast facts Zavalny proposed gold and Russia’s […]

As NFT adoption grows, massive amounts of capital are pouring into the industry.  January 2022 saw the close of investment rounds in several high-profile companies, including NFT marketplace OpenSea, which raised US$300 million in Series C funding from investors led by Paradigm and Coatue. The new investment valued OpenSea at US$13.3 billion. Hong Kong-based Animoca Brands, […]

Asia looks set to become the next big market for NFTs, with some experts predicting the region may surpass the West as early as this year. Global Google search interest for the term “NFT” surged past “crypto” in January, with the search engine’s data showing growth originating in the East. Data from Taiwan, Japan and […]

Crypto exchange Binance has won a license to operate in Bahrain. Meanwhile in Southeast Asia, Singapore’s Monetary Authority has designated Russian banks amid growing sanctions.

US crypto exchange Coinbase has blacklisted 25,000 Russian wallet address in response to the ongoing Russian-Ukraine conflict. Meanwhile in Asia, English-language newspaper South China Morning Post announces the launch of its metaverse experience.

Top blockchain and crypto news: Digital currency battling Russian invasion. Ethereum remains NFT projects’ chain of choice. China to lock up crypto traders.

The multi-faceted metaverse provides new channels for gaming, socialization, art exhibitions and more. Who’s leading the race and how?

A new electricity rate hike for crypto miners in China’s southeastern province Zhejiang is a penalty, not a green light, province capital Hangzhou authorities said, the China Times reported on Wednesday.  See related article: China’s Zhejiang province busts dozens of state-owned entities for mining crypto Fast facts Zhejiang Province announced this month that it would […]

Kazakhstan’s energy authority has identified and disconnected 13 unauthorized crypto mining farms in the country, as the government continues to ramp up efforts to regulate the sector. See related article: Crypto mining’s Great Migration continues — out of Kazakhstan Fast facts The Ministry of Energy said on Monday that an inspection team has shut down […]

As businesses wake up to the potential of the metaverse, we ask The Sandbox’s Sebastien Borget whether its creator-driven promise will persevere.

Animoca Brand’s nWayPlay sold out second batch of Bing Dwen Dwen mascot NFTs on Thursday as prices of first set fetched 900% in average resale value.

The price of NEO climbed by 6.2% over the last 24 hours to US$25.13 on Thursday morning Asia time, following China-based Neo’s Tuesday announcement of its Jiuquan Chain’s integration to China’s state-backed blockchain network. See related article: BSN to integrate Neo’s chain to bolster NFT issuance in China Fast facts NEO hit a daily high […]

Popular video game Genshin Impact developer miHoYo announced on Monday the launch of HoYoverse for its global expansion while hinting its entry into the metaverse race. Fast facts The China-based game developer wants to provide a virtual world with a “high level of freedom and immersion,” miHoYo CEO Haoyu Cai said in a statement.  MiHoYo […]

Bitcoin’s hashrate reached an all-time high over the weekend, despite many miners being forced to move operations out of Kazakhstan. Fast facts The total Bitcoin hashrate surged by 31.7% to an all-time high of 248.11 exahashes per second in raw values on Saturday, according to data from Blockchain.com. The latest hashrate read at 209.63 EH/s […]

As stablecoins face pressure to adopt traditional safeguards, the industry’s efforts to self-regulate should not be overlooked, writes Charlie Martin of Gro.

The European Commission announced Wednesday it will propose a bill in early 2023 to introduce a digital euro, according to a report by Politico. Fast facts The European Central Bank (ECB) is already experimenting with the digital euro and is expected to begin working on a prototype by the end of next year. A digital […]

The United Nations specialized agency for telecommunications standardization, ITU-T, has approved a non-fungible token (NFT) technical framework proposed by Chinese tech giants including Tencent Holdings and Ant Group, state-owned media reported.   Fast facts The framework, which introduces an NFT standard, proposes technical and security requirements for digital collectibles on the blockchain.  The international standards approved […]

PBoC pushes for e-CNY standardization, meanwhile Indian crypto unicorn CoinDCX hits 10 million users

CBDCs are vulnerable to hacking and the powers of quantum computing, cybersecurity expert Amnon Samid writes. Central banks must heed the warning.

Indian Finance Minister Nirmala Sitharaman confirmed at the parliament budget session on Tuesday that the Reserve Bank of India (RBI) will issue a digital rupee based on blockchain, as she proposed the issuance for financial year 2022-23. Fast facts “Digital currency will also lead to a more efficient and cheaper currency management system,” the minister […]

The owner and operator of cryptocurrency exchange FTX.COM announced Monday it closed US$400 million in a Series C fundraise that now values the company at US$32 billion. Fast facts Investors participating in this round included Temasek, SoftBank Vision Fund 2 and Tiger Global, among others. The company said all of the investors have participated in […]

The recent crypto price plunge has done little to rattle new investors. Are they just buying the dip, or is there more to it? Q9 Capital’s James Quinn explains.

CBDCs can increase financial inclusion and prevent crime, according to blockchain expert Tiana Laurence. What’s not to like about state-backed digital money?

The amount of cryptocurrency used in money laundering activities increased 30% in 2021 compared to the year before, but represents a smaller portion of total transactions, according to an annual crypto money laundering report by Chainalysis, a blockchain data analytics firm.  Fast facts Cybercriminals laundered US$8.6 billion worth of cryptocurrency last year, with the total […]

The tech-savvy nation is deemed a prime environment to grow the metaverse. What comes next, and will some be left out by a digital divide?

The Bitcoin mining difficulty level rose to an all-time high in its latest adjustment on Friday while the total Bitcoin hashrate also reached an all-time-high during a global cryptocurrency sell-off. Fast facts The mining difficulty level rose by 9.32% to 26.64 trillion at block height 719.712, reflecting its most difficult level in history, according to […]

Though the world’s most powerful central bank does not stake a position, its discussion paper is a big step toward supporting a future US digital currency.

The U.S. Federal Reserve’s report on central bank digital currencies (CBDCs) released on Thursday did not contain policy recommendations or decisions on digital dollar issuance. Fast facts The paper acknowledged that the Fed will not proceed in creating a digital dollar without clear support from lawmakers, ideally through a specific authorizing law. The Fed said […]

Several mainland tech giants are launching digital collectibles as a novel gifting option for the Chinese New Year holiday season, which starts Feb. 1. Fast facts Digital collectibles are essentially non-fungible tokens (NFTs), but the term has been discouraged by authorities. Chinese search engine Baidu’s XuperChain has launched its digital collectibles platform, with a series […]

Binance’s CEO is now the richest Asian man, but the crypto exchange giant’s presence in Asia—where Binance got its start—is withering under regulatory heat.

Xiamen University of southeast China is warning its staff and students to not use Norton 360 antivirus software for its Ether mining function, citing the nation’s crypto mining ban policy. Fast facts

If 2021 was a breakout year for crypto, this year may mark a similar advance for regulation of the industry, says Caroline Malcolm, Chainalysis’ new policy chief.

The U.S. Federal Reserve is deferring to Congress to decide whether to introduce a central bank digital currency (CBDC), Lael Brainard told the Senate banking committee Thursday at her Fed vice chair nomination hearing. Fast facts Republican Senator Cynthia Lummis asked whether the vice chair nominee believed that the digital dollar should be available to […]

Stablecoins and CBDCs will likely co-exist in the city, experts say, as Hong Kong looks to thrive as crypto hub.

A computer database at a supermarket in eastern China is being held hostage by cybercriminals demanding 0.042 Bitcoin, which amounts to US$1,832, according to a Chinese media report. Fast facts

Since China’s crypto bans, Kazakhstan has become a popular destination of energy-intensive crypto mining companies.

NFTs are finding novel uses across many sectors, from fashion to real estate. What industries stand to benefit most from this technology in the year ahead?

Looking beyond this year’s headlines like El Salvador’s Bitcoin adoption, here are the key developments in blockchain technology that will have lasting impact in the new year and beyond.

While China made a big moves in banning crypto this year, US lawmakers appear to be warming up to the industry, setting the stage for next year.

An investor who received $1.25M in Bitcoin by accident will not be criminally penalized, raising questions on the legal status of cryptocurrencies.

Bitcoin’s current price is not indicative of the crypto’s future prospects, says Mark Yusko, who looks forward to the tokenization of everything.

Top blockchain and crypto news: Can stablecoins bankroll democracy? Nike swooshes into the metaverse. Animoca and Bored Apes venture deeper into the gaming jungle.

OpenSea IPO plans in choppy waters. Crypto markets crumble. Bitcoin mining power struggles.

South Korean game shares fell sharply, just a few weeks after announcements of new NFT metaverse ventures sent the shares up.

NFT privacy concerns meanwhile AussieMates raises mental health awareness

Why the Federal Reserve and other major central banks are likely to speed up development of retail CBDCs.

The Federal Reserve Bank of New York has joined hands with the Bank for International Settlements (BIS) to launch an innovation hub in New York— dubbed the New York Innovation Center (NYIC) — to explore and build financial technology products for the central bank community. Fast facts The NYIC will focus on five areas — […]

Omicron hits markets meanwhile Japanese novel released as NFT

Metaverse picks up momentum, on the other hand Binance tweet gets yellow card

SafeMoon, known for high fees and social media hype, is now 85% below its all-time high. What lies in SafeMoon’s future?

As interest in the metaverse continues to gain pace, big names in entertainment including Snoop Dogg, deadmau5 and Shaun Neff have joined leading crypto VC firm Outlier Ventures to invest and advise start-ups to accelerate the Open Metaverse. Fast facts Since launching its Base Camp Accelerator in 2019, Outlier Ventures has helped raise over US$250 […]