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Bitcoin traded above US$30,000 to hold onto the strong gains made this week on the back of growing institutional interest in the token as an emerging asset.

Amid growing regulatory scrutiny in the U.S., crypto firms eye Hong kong for its strategic location and friendly regulations, yet Singapore and Dubai remain strong competitors, says FinTech Association of Hong Kong’s Neil Tan.

Independent Reserve may have a new Hong Kong office in the “next few months,” the Singapore chief of the Australian crypto exchange said in an exclusive interview. Focusing on institutional clientele, the exchange aims to double trade volumes and expand its user base this year.

As the US escalates its crackdowns on digital asset companies, it’s also losing its dominance in crypto — to Asia’s advantage, writes Henry Liu of BTSE.

The final story in a three-part series on Asia metaverse developments looks at China’s national strategy, which has seen dozens of cities and provinces release spending plans and training schemes to adopt this digital world in real-world industries. China’s initiatives, however, face challenges from regulation and global competition.

Bitcoin and Ether continued to slide amid lawsuits against top crypto exchanges in the U.S.

Bitcoin trading remains stuck under the US$26,000 resistance line. Ether dips while other top 10 crypto were mixed.

The SEC’s one-two punch of Coinbase and Binance couldn’t have come at a better time for Hong Kong and Singapore, as US crypto firms look to shift to friendlier shores, writes Hamilton Keats of Krayon Digital.

Most top 10 cryptos rebounded, despite the SEC suing Coinbase exchange a day after it sued Binance’s U.S. arm.

The Society for Worldwide Interbank Financial Telecommunication (Swift) and blockchain data provider Chainlink will work with more than 12 major banks across the world to test the use of existing Swift infrastructure to transfer tokenized assets across public and private blockchain networks, Swift said on Tuesday.  See related article: SWIFT, Chainlink announce cross-chain interoperability partnership […]

The SEC sued Binance on Monday, amid mounting regulatory scrutiny of crypto exchanges. Industry experts shared insights on what this could mean for Binance and how it could drive crypto innovation out of the U.S.

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.

Bitcoin, Ether traded little changed Monday morning in Asia, along with most other top 10 non-stablecoin cryptocurrencies. However, both Solana and XRP rose.

Dubai-headquartered Bybit said it will exit the Canadian crypto market and stop accepting new accounts from Wednesday, citing a “recent regulatory development.”

For crypto to grow for the long term, the industry must show greater respect for global standards that combat crime, writes Slava Demchuk of AMLBot.

While U.S. regulators continue debating over whether cryptocurrencies are securities or commodities, the digital assets industry is being pleasantly welcomed by several Asian cities. And the competition is really hotting up now.

Seychelles-headquartered cryptocurrency exchange Bitget announced on Tuesday that it successfully registered as a virtual asset service provider in Poland.

Bitcoin gained 1.71% and Ether climbed 2.35%. Polygon gained the most in 24 hours followed by Tron.

Bitget is looking to hire 300 more people across operations, compliance, research and development, and customer support, the cryptocurrency exchange said.

China’s top legal authority issued a commentary on Monday about the risks and potential in NFTs, highlighting the need for legislation.

South Korean prosecutors have raided Upbit, Bithumb and the crypto wallet unit of Kakao, as part of their investigation into lawmaker Kim Nam-kuk.

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.

Regulatory hurdles have once again hit Binance in North America, with the world’s largest cryptocurrency exchange announcing on Friday that it would cease operations in Canada due to tightened crypto rules.

Goldman Sachs, Microsoft, Deloitte, Moody’s and other institutions are partnering with Digital Asset for the launch of the Canton blockchain.

Free of the hierarchies and power dynamics in traditional companies, DAOs can allow Web3 organizations to do better, writes Arjun Kalsy of Mantle.

Binance says it works closely with law enforcement to freeze funds and the news agency’s report left out “critical facts.”

Top blockchain and crypto news: JPMorgan swoops as another bank falls. NFT market rivalry heats up. Bitget seeks Hong Kong exchange license.

CFTC and SEC disagree over whether cryptocurrencies are securities, and two big lawsuits clouding the industry’s future invoke laws that long predate the digital era.

Seychelles-based cryptocurrency exchange Bitget expects more clarity on Hong Kong’s licensing regime from June as the city pushes ahead with plans to attract blockchain and cryptocurrency entrepreneurs.

Coinbase said the Securities and Exchange Commission seems to be undermining its own role as the monitor of companies registering to sell shares to the public

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

The current US approach to regulating crypto flies against its history of supporting tech innovation and undermines its own national interest, writes Hamilton Keats of Krayon Digital.

New York-based investment bank H.C. Wainwright has initiated a “buy” rating on publicly traded Coinbase Global Inc., the largest cryptocurrency exchange in the U.S., saying the company is poised to benefit from growth in the global digital asset economy as the so-called “crypto winter” of falling prices is over.

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

Bitcoin fell to near US$28,000 on Friday morning in Asia, with Ether trading flat and most other top 10 non-stablecoin tokens losing steam.

Bitcoin slid below the US$29,000 mark on Thursday morning in Asia. Ether lost hold of US$2,000 in a sell-off across all top 10 non-stablecoin tokens.

Seattle-based crypto exchange Bittrex Inc. has rejected charges by the U.S. Securities and Exchange Commission (SEC) that it and co-founder Bill Shihara operated an unregistered national securities exchange, broker and clearing agency. The SEC filed the charges on Monday. See related article: U.S.-based cryptocurrency exchange Bittrex lays off 83 employees Fast facts See related article: U.S. SEC […]

Traditional institutions are testing crypto waters, but given last year’s market carnage, it’s not easy to gain their confidence, writes Simon Schaber of Spool.

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 Australian securities regulator has canceled Binance Australia’s derivatives license.

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

Paxful Bitcoin exchange announced the indefinite suspension of the marketplace on Tuesday, citing regulatory challenges and staff departures.

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.

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.

Bitcoin fell Tuesday morning in Asia along with most other top 10 non-stablecoin cryptocurrencies after the U.S. filed a lawsuit against Binance.

Binance and founder Changpeng Zhao have been sued by the CFTC for allegedly violating derivative rules

Filing taxes on crypto assets is a ‘massive pain in the proverbial butt,’ writes Don Gossen of Nevermined. As IRS deadlines loom large, how can responsible investors avoid underreporting or overpaying?

If there was a lesson from the crypto implosions of 2022, it is the demonstration of the superiority of open code and decentralization over central intermediaries, argues Voorhees at DC Blockchain Summit.

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.

Amid the NFT hype in 2022, Chinese buyers’ complaints about NFT scams and price manipulations surged 30,000% to 59,700 from 198 in the year before.

NFTs have entered China’s Two Sessions, with a delegate to propose an NFT regulatory framework.

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.

Binance, the world’s largest cryptocurrency exchange, reportedly didn’t disclose the extent of its ties and control over Binance.US, WSJ reported.

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.

Crypto industry’s interaction with regulators is important and quite common in Asia but missing in the US, says Brooks Entwistle of Ripple Labs.

Bitcoin remained resilient around the US$24,000 level on Tuesday despite Wall Street’s worst day of the year so far. Industry experts are eyeing a potential retest of the US$25,000 psychological level, as a failure to reclaim it may result in a downtrend to around US$21,500.

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.

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

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.

What makes Web3 compelling to many is its promise to shift power from centralized players to individual users, but China is doing the opposite, writes Lily King.

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

The digital asset space is ripe for regulation, and tokenized real estate is no exception. But views differ when it comes to finding a framework that fits.

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.

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.

Jingtan, one of China’s major NFT marketplace, has relaxed its rules on NFT transfer between users.

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.

Beijing’s market regulator warned that projects marketed in the country as non-fungible tokens or with metaverse-related concepts risk being involved in illegal fundraising or fraudulent activities.

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