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As the US is engulfed in regulatory strife, Asian countries are rolling out legal frameworks that attract crypto investment, protect consumers and encourage innovation.

Crypto’s current turmoil in the US stands in stark contrast to other jurisdictions that are paving paths to for the industry to shine, writes Sean O’Connor.

Bitcoin held above US$30,000 for most of the week but lost momentum as the SEC left investors guessing on how it will treat spot Bitcoin ETF applications.

Hong Kong, Japan, Singapore and Thailand have regulations supporting the growth of tokenization, showing the world the benefits of fractionalizing assets.

Bitcoin rose on Tuesday morning in Asia to hold above support at US$26,000. Ether also logged gains along with most other top 10 non-stablecoin tokens.

Tokyo-based information technology company Fujitsu will launch a new platform on June 30 to connect different economies using blockchain.

To date, none of the 30-plus crypto bills in Congress have become law, so judges are stepping up to fill the void. What does this mean for crypto in America?

From US crackdowns on Binance and Coinbase to new business-friendlier frameworks in Hong Kong and Europe, seismic shifts in crypto regulations are under way.

Top blockchain and crypto news: Binance, Coinbase in SEC firing line. Solana NFTs slump as Bitcoin’s surge. New dawn in Hong Kong crypto regulations.

FATF’s travel rule is looming over the crypto industry as an existential threat, writes Jack Jia of Unlimit. Here’s why it’s especially worrying to DeFi and self-custody wallet users.

OSL is one of only two digital assets trading platforms in Hong Kong licensed to offer services to professional investors.

In a new report, U.K. lawmakers suggest treating Bitcoin and Ether like gambling due to significant consumer financial risks.

Crypto users need not fear the increasing KYC/AML requirements around the world and loss of privacy, writes Kurt Hemecker of the Mina Foundation. Here’s why.

The U.S. Department of Justice is aiming to crack down on cryptocurrency exchanges that help criminals facilitate money laundering

Bank of Korea, the central bank, seems uncomfortable with the Financial Services Commission, the country’s regulator, having the mandate over the cryptocurrency industry. The bank is pushing for more say, arguing crypto can influence the stability of the overall financial market and that involves the central bank.

Arthur Yuen, Deputy Chief Executive of the Hong Kong Monetary Authority, urged local lenders to provide banking services to regulated crypto firms.

Binance said it has more than 700 employees in its compliance team, which includes 170 staff working to combat crypto fraud.

A clear and balanced legal framework will encourage more crypto investment, while the industry can promote best practices, writes Mahin Gupta of Liminal.

Mempool congestion issues subsided after the Bitcoin network surpassed 1 million Ordinals inscriptions.

ECB President Christine Lagarde said the digital euro would have “limited control” in a prank call.

DeFi services threaten U.S. national security and need to comply with anti-money laundering and terrorist financing laws, the U.S. Treasury said on Thursday.

The Monetary Authority of Singapore is reportedly working on guidelines to help local banks vet and provide banking services to cryptocurrency clients

CoinTrade said it has partnered with crypto custody platform Fireblocks to provide institutional clients with improved security for digital assets.

The Philippines has licensing requirements and proactively monitors crypto firms, while the US regulates by enforcement only after consumers are already badly hurt, writes Robert De Guzman of Coins.ph.

European lawmakers have adopted legislation imposing a €1,000 (US$1,084) cap on anonymous cryptocurrency transactions, as part of the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) package.

Top blockchain and crypto news: Binance targeted in CFTC lawsuit. Law catches up with Do Kwon. Chinese banks bet on Hong Kong crypto.

Seychelles-based cryptocurrency exchange OKX said it will apply for virtual asset licenses to operate digital asset services in Hong Kong.

Binance CEO Changpeng Zhao said the charges are “an unexpected and disappointing civil complaint” in response to the CFTC lawsuit filed on Monday against him and the world’s largest crypto exchange.

As banking contagion worries reignited, Bitcoin traded firmly above US$28,000 for most of the week. Considering that Bitcoin was made for a potential banking crisis, industry experts are eyeing the US$30,000 mark for BTC.

Top blockchain and crypto news: Banking woes boost Bitcoin. Arbitrum counts down to launch. Chinese billionaire faces US crypto scam charges.

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

As the U.S. banking system stared into the pit of bank runs and collapsing share prices, the authorities acted swiftly to try and pull everything back from the edge. However, Bitcoin seemed unperturbed. Is this what a safe haven looks like?

Unique in the world, Singapore is a big investor and player in digital assets while advancing regulations that favor institutions over individual crypto users, writes Danny Chong of Tranchess.

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

A crypto tech firm and three of its executives have been indicted for allegedly operating unlicensed Bitcoin ATMs in the U.S. that profited from 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.

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.

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.

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.

Greater transparency and confidence in who you are transacting with could go a long way toward alleviating public mistrust, writes Travis Nelson of Quadrata.

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

Binance expects to pay to settle U.S. authorities’ investigations into its business and past crypto offerings, according to its chief strategy officer.

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

Top blockchain and crypto news: GOPAX deal sees Binance return to South Korea. Inflation fight spooks crypto markets. Chinese liquor giant gives cheers to NFTs.

Top blockchain and crypto news: BTC mining ETF outperforms. SBF under pressure as accusations mount. ‘China’s Instagram’ embraces NFTs.

Laws to prevent another FTX blowup, crackdowns on crypto tax cheats, and a ruling on Ripple are likely imminent. A bull’s eye is also on DeFi, writes Gergo Varga of SEON.

The Dutch central bank (DNB) has fined U.S.-based cryptocurrency exchange Coinbase €3.3 million (US$3.6 million) for failing to obtain correct registrations

Top blockchain and crypto news: Genesis bankruptcy begins. FTX chief ponders a reboot. China’s CBDC gets a smart-contract upgrade.

Regulators should not legitimize “purely speculative” activity in crypto markets following the collapse of FTX, said Monetary Authority of Singapore Chairmen.

FTX is exploring options to revive its bankrupt international cryptocurrency exchange, FTX.com, CEO John Ray told the Wall Street Journal.

Hong Kong has passed a new licensing regime on for crypto exchanges that will subject providers to the same legislation and rules as traditional finance.

Federal prosecutors have issued subpoenas to several U.S. hedge funds that have dealt with the world’s largest cryptocurrency exchange, Binance Global Inc.

From Terra and FTX crises to Ethereum’s triumphant Merge and China’s inventive NFT industry, Forkast reviews a rollercoaster year and its consequences.

Japan’s Financial Services Agency (FSA) reportedly plans to allow the circulation of foreign-issued stablecoins in the local market next year.

Despite blockchain’s potential, barriers to use still stand in the way, writes Andrew Vranjes of Blockdaemon. Solving security issues and reducing risk will be key.

Top blockchain and crypto news: US senators push for crypto KYC. SBF faces the music in US courts. Alibaba Cloud to launch blockchain node.

Julia Leung, the next chief executive of Hong Kong’s Securities and Futures Commission (SFC) due to start her three-year term on Jan. 1, called for stricter crypto regulation when speaking at the city’s Fintech Week last month.

As U.S. prosecutors line up charges against Sam Bankman-Fried, the founder of the collapsed FTX cryptocurrency exchange, Senator Elizabeth Warren is seeking to pass bipartisan regulation to rein in the “dark underbelly” of the crypto industry.

Top blockchain and crypto news: SBF denied bail, US extradition likely next. The Block chief quits over secret FTX loans. Hong Kong readies digital asset rules.

FTX’s Sam Bankman-Fried has been charged by the U.S. SEC for orchestrating a years-long fraud on investors, the agency announced on Tuesday.

Bitcoin and Ether rallied in Asian trading on Tuesday afternoon. BNB was the biggest loser across the top 10 non-stablecoin cryptocurrencies

The fall from grace: Once one of the most admired figures in crypto, the former head of the FTX exchange is unlikely to see his Bahamas penthouse anytime soon after being arrested Monday on U.S. charges that are expected to lead to his extradition.

Hong Kong passed the amendment to the bill that includes a licensing regime VASP on Wednesday, which will come into effect on June 1, 2023.

The push to regulate DeFi is stronger than ever, and the sector would be wise not to fight but participate in that inevitability, writes Michael Shing of XREX.

U.S.-based cryptocurrency exchange Kraken has agreed to pay over US$362,000 to settle claims that it violated sanctions against Iran, the Treasury said Monday.

The former CEO of the collapsed crypto exchange “needs to keep his mouth shut” and stop making public comments that could be used against him in future court cases, lawyers tell Forkast.

As FTX victims and creditors sift through the pieces, how much of this blowup should regulators have seen coming — and could it happen again?

Korbit, one of South Korea’s five fully licensed crypto exchanges, announced Wednesday that it will reveal its full list of crypto reserves.

Changpeng Zhao, founder and chief executive of Binance, tells the B20 Summit in Indonesia that the world’s largest cryptocurrency exchange aims to help improve business and operation standards in the crypto industry.

Changpeng Zhao, founder of the world’s largest crypto exchange, said its earlier pledge to acquire FTX fell through partially due to regulatory concerns.

KakaoBank, one of South Korea’s online-only banks with nearly 20 million users, said it will start providing accounts for users of Coinone exchange in November.