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HashKey Exchange and OSL — the only two cryptocurrency exchanges licensed by the Hong Kong SFC — received license upgrades Thursday to service retail investors.

The Republic of Kenya has suspended Worldcoin, a cryptocurrency project co-founded in 2019 by OpenAI chief Sam Altman, while the country’s security and data protection services look into the authenticity and legality of the project, the Ministry of the Interior and National Administration said on its Facebook page on Wednesday.

Tokenization is having a breakout year, but providers must learn from the past to prevent another FTX or Celsius-level crisis, writes Philipp Pieper of Swarm.

Speaking at the WebX Asia conference in Tokyo, Circle’s Singapore-based vice president of strategy and policy discusses U.S. regulation, growing pains in the crypto industry and Asia’s burgeoning role as a Web3 innovator.

The U.S. House Financial Services Committee passed a bill Wednesday aimed at defining whether cryptocurrencies are securities or commodities.

NAB, one of Australia’s “big four” banks, announced it is taking action to block some payments to “high-risk” cryptocurrency exchanges, as part of its new measures aimed at protecting customers from scams.

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

Alex Mashinsky, founder and CEO of Celsius Network, pleaded not guilty after being arrested in the U.S. Thursday on several fraud-related criminal charges.

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.

While Asia nations such as Singapore and Thailand seem to be following the U.S. regulator in frowning upon certain products offered by crypto exchanges, the approach in Asia so far seems to be clarity instead of court battles, in contrast with North America

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.

Southeast Asia steps up regulation. No end in sight for NFT market decline. Voyager’s shrinking portfolio.

Cryptocurrency service providers in Singapore will have to keep customer assets under a statutory trust before the end of the year, for safekeeping purposes, the city state’s central bank announced Monday.

Digital assets funds have been flowing in waves all over the world since crypto’s inception, writes Amy Yu, CEO of SEBA Bank. Where is crypto capital going now?

South Korea approved a bill to protect cryptocurrency investors as part of building the country’s first legal framework devoted to digital assets.

The U.S. Securities and Exchange Commission (SEC) said the recent series of spot Bitcoin exchange-traded fund (ETF) applications by asset managers were inadequate and not sufficiently clear, according to a report by Wall Street Journal on Friday. 

Binance Abu Dhabi’s chief Dominic Longman discusses the UAE’s approach to cryptocurrencies and the state’s support for innovation.

Paul Chan, Hong Kong’s financial secretary, said more than 150 Web3 companies had registered at the Cyberport business park.

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.

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?

All top 10 cryptos, including Binance’s BNB, gained on Tuesday afternoon trade in Asia for the first time this week amid ongoing lawsuits with the U.S. SEC.

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.

Bitcoin rose but failed to break through US$26,000. Ether slipped, while other top 10 crypto were mixed as SEC chair Gary Gensler doubled down on reasons for suing U.S. crypto exchanges.

Bitcoin Ordinals are also called NFTs, but intellectual property laws may not treat them the same as Ethereum- and Solana-minted NFTs, writes Cameron Pick.

Local legislator suggests global cryptocurrency exchanges such as U.S.-based Coinbase set up operations in Hong Kong as the city’s new licensing regime for crypto retail trading took effect on June 1.

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.

Nearly all top 10 tokens rebounded as investors look beyond U.S. regulator’s lawsuits against two of the world’s most influential crypto exchanges.

The U.S. SEC sued Coinbase, the largest cryptocurrency exchange in the U.S., for allegedly breaching securities rules, less than 24 hours after the regulator sued Binance on similar charges. 

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.

All top 10 non-stablecoin cryptocurrencies took a sharp fall Tuesday morning in Asia, after the SEC sued Binance over alleged securities violations.

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.

DeFi has the potential to revolutionize finance, but hacks, poor user experience, and a lack of a regulations make many wary, writes Arthur Firstov of Mercuryo.

Virtual assets will receive the same regulatory clarity in Hong Kong as their real-world counterparts, says former Hong Kong SFC regulator Angelina Kwan.

Binance Marketplace, Binance’s NFT trading platform, is launching a new service Friday where users can loan Ether by using NFTs as collateral.

Top blockchain and crypto news: Asia’s crypto hub race. Is US debt ceiling fight a boon or a bane for crypto? China’s red carpet for metaverse investment.

Analysts say the move could signal a bull run in cryptocurrencies.

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.

Hong Kong will allow licensed cryptocurrency trading platforms to offer services to retail investors and will implement a slew of measures to protect individual traders, the Securities and Futures Commission (SFC) said on Tuesday.

The Philippines Securities and Exchange Commission warned the public last week not to use crypto exchange Gemini’s derivatives platform.

Stablecoins are a key part of the crypto ecosystem, but banks like JPMorgan are now exploring deposit tokens as an alternative. Which is better, and why?

Circle Vice President of Global Policy Corey Then says he is optimistic that U.S. regulatory developments can eventually benefit local players despite ongoing scrutiny.

Rollout of the central bank digital currency in Hong Kong is a potential game-changer and a move that others may soon look to follow.

World’s largest cryptocurrency exchange halts Australian dollar services after payment provider cuts off service.

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.

As part of the ongoing legal dispute between the two, the U.S. Securities and Exchange Commission said it would not be hurried into a response to Coinbase demands.

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.

The U.S. is resisting digitization of the dollar due to it being a threat to the country’s dominance over traditional financial system, said Christopher Giancarlo, former chair of the Commodity Futures Trading Commission (CFTC) and author of “Crypto Dad: Fight for the Future of Money.”

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

The administration of U.S. President Joe Biden is campaigning for a tax on cryptocurrency miners equal to 30% of the cost of the power they use, citing what it calls “negative spillovers” from the industry.

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.

NFT IP allows traders to multiply their brands and grow. The Nakamigos collection has leveraged this advantage of the technology.

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

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.

Hong Kong’s Web3 industry can look forward to more regulatory clarity, with the city set to release its cryptocurrency exchange licensing framework in May

South Korea’s legislation on how to regulate digital assets passed the first phase of review in the country’s National Assembly on Tuesday.

‘Proof of reserve’ is the new catchphrase and promise by crypto leaders eager to allay investor fears. But loopholes remain and audits might not mean what you think, writes Anndy Lian.

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

South Korea’s Do Kwon went from a poster boy of digital finance as a co-founder of the US$40 billion Singapore-based Terraform Labs to a fugitive on Interpol’s wanted list, all in a matter of several rollercoaster years. He’s now in a Montenegro jail where he may face more time in detention as the U.S. and South Korea demand his extradition to face a long list of charges, including securities fraud – allegations he has repeatedly denied. The following is a timeline of how we got here.

What are ‘trustless oracles,’ and how will they shape the development of the metaverse and Web3? Markus Levin of XYO and XY Labs explains.

The Bank of England may set limits on use of stablecoins, citing concern rapid introduction of such digital currencies could lead to financial instability, Deputy Governor Jon Cunliffe said in a speech on Monday.

The failed FTX cryptocurrency exchange has recovered around US$7.3 billion in assets and is considering the option of restarting its business.

Singapore-headquartered crypto mining firm Bitdeer Technologies is set to go public on Nasdaq on April 14 via a SPAC merger following multiple delays in closing the US$4 billion deal.

Adam Sullivan, whose most recent role was managing director of XMS Capital Partners, will will work on financial and strategic matters while assisting with the negotiation of a reorganization plan.

The U.S. SEC Investor Advisory Committee urged the federal agency to continue its aggressive enforcement on crypto players that offer unregistered securities.

Bitcoin and Ether rose in Monday afternoon trade in Asia, along with most other top 10 non-stablecoin cryptocurrencies by market capitalization.

Top blockchain and crypto news: Arbitrum to segment AIP-1. DeGods NFT collection moves to Ethereum. Crypto on the agenda at ‘China’s Davos.’

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.