Search results: law

Yuval Rooz of enterprise blockchain company Digital Asset Holdings, predicts traditional banks like JPMorgan and Goldman Sachs will tokenize more assets to provide more privacy and scalability.

In South Korea, a new presidential administration will be chosen in March. Here’s where the four major candidates stand on Korea’s booming virtual asset space.

In South Korea, virtual asset investors with more than 500 million Korean won, or approximately US$418,935, worth of crypto assets in overseas accounts must report to their regional tax authorities beginning in 2023. Fast facts According to a new year guidebook by the Ministry of Economy and Finance, any resident or domestic corporation with overseas […]

The world’s largest crypto exchange continues struggling to stay compliant, but it has seen some luck in the Middle East.

Love it or hate it, Bitcoin can be a powerful force for good — and it’s here to stay, writes Peter Vessenes, co-founder of The Bitcoin Foundation.

2021 was a big year for crypto. As we enter a new year, Forkast.News asks market watchers what might be in store for the next 12 months.

With wider acceptance as a financial asset, a teenage Bitcoin may not see the explosive 200% average annual returns of the past, but also may experience less price volatility.

A regulatory hurricane swept away half of South Korea’s crypto exchanges in 2021. Who are the survivors — and are there larger lessons for the rest of the world?

It’s a myth that crypto transactions are anonymous, writes Warren Paul Anderson of Discreet Labs. Confusing anonymity with privacy is what causes trouble.

From China’s ban to FATF’s travel rule, crypto regulations have been top of mind this year. How might regulatory impulses and current trends play out?

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.

Global shifts are underway in crypto regulations, writes Huong Hauduc of Bequant. How might the political and market forces play out next year?

Who in the crypto world deserves Santa love this year, and whose chimney should be snubbed? The elves at Forkast.News help the big man with his list.

China tries to stamp out Bitcoin mining while increasing its influence over blockchain technology and preparing the digital yuan for launch. What lies in store for 2022?

Curious to use Bitcoin but don’t know where to start? Forkast.News explains how.

Liquidity mining plays a unique role in the DeFi ecosystem. How does it work?

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

U.S.-based tax preparation service company H&R Block has filed a trademark infringement case over Square’s new name, Block. Fast facts The lawsuit states: “Block brings this lawsuit to protect consumers from being deceived and to prevent a Silicon Valley tech company from stealing Block’s name.” According to a press release from H&R Block, fintech firm […]

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

Federal regulators have turned their sights on stablecoins. But is the attempt to tame this digital currency too late?

Games like Axie Infinity are now the darlings of big investors. Does it matter that revenue is falling and many players earn less than the minimum wage?

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

The National Unity Government recognizes Tether as an official currency, defying the cryptocurrency ban imposed last year.

Crypto 1 will consider acquisition targets worldwide but steer clear of digital assets companies in China and Hong Kong. Are the lights dimming on a major crypto hub?

Crypto 1 Acquisition Corp., a U.S.-incorporated blank check company, has completed its initial public offering (IPO) with gross proceeds of US$230 million, according to a company statement released Friday. Fast facts The company’s units commenced trading on the Nasdaq Global Market under the ticker symbol “DAOOU” on Dec. 7. Acting as a special purpose acquisition […]

Confusion surrounded the Solana blockchain community over the weekend as a sudden drop in transaction speeds was initially believed to be a distributed denial of service (DDoS) attack, resulting in a lengthy debate as to the cause of the delay. Fast facts Solana-based non-fungible token (NFT) platform Blockasset was one of the first to highlight […]

Chief business officer of the first SEC-registered digital security says crypto companies got caught with their hands in the cookie jar.

Decentralized autonomous organizations are ripe for robot takeovers, says SingularityDAO’s Marcello Mari. After all, why do decentralized entities need leaders?

India’s proposed rules for digital assets would ban cryptocurrency for payments while the Securities and Exchange Board regulates exchanges. Will it become law?

Investment banks’ hunger for a new revenue stream is likely to drive up the popularity and registration of crypto derivatives products.

Lee Jae-myung, the ruling Democratic Party’s candidate for the 2022 South Korean presidential election, says cryptocurrency is already an integral part of the lives of Korean citizens and the country needs to be a leader in virtual assets. Fast facts At an invitational lecture at Seoul National University’s finance and economics seminar, Lee said that […]

Kotak Mahindra Bank, a leading private bank in India, has struck a partnership with crypto exchange WazirX, the Economic Times reported. Fast facts WazirX has opened an account with Kotak that can be used to pay and receive money from investors, according to the ET report. The account will be activated after the completion of […]

Tourism officials want to attract more crypto-wealthy travelers to Thailand’s shimmering shores. But will the crypto faithful come if Thailand still has a ban on SHIB and Dogecoin?

Experts expect more disruption as the crypto industry matures and a younger generation places different values on status and job security.

A jury cleared Craig Wright of all but one charge in a civil trial brought by the estate of his alleged former business partner, David Kleiman.

Singapore-based crypto exchange had claimed the fan token would support BTS members — while the band’s agency denied any association with it.

Supply chain woes are deepening as seasonal consumer demand meets a logistics logjam. Dennis Delgado of SyncFab explains how blockchain can help. 

A cabinet note suggests the government intends to regulate cryptocurrencies as assets with the Securities and Exchange Board of India at the helm.

LUNA is now the 12th largest crypto, and Terra’s platform has been called ‘Alipay on the blockchain.’ What are Terra’s investment risks? Forkast.News explains.

A former finance secretary says too much is yet unknown about the new crypto bill for investors to expect the worst.

Conversation between current and former SEC chairs at annual digital asset compliance summit focused on regulating crypto.

Top blockchain and crypto news: Are India’s CBDC plans crowding out crypto? Jack Dorsey goes full Bitcoin bro. China’s digital yuan hopes claim another victim.

Huobi Group, which operates Chinese cryptocurrency exchange Huobi Global, has decided to set up a regional hub in Singapore, a representative of company has told Forkast.News. Fast facts In November, Huobi Global pledged to stop offering services to Singapore-based users from March 31, 2022, to comply with local laws, according to a company statement. Huobi […]

Now that South Korea’s crypto tax is delayed a year, what will the final form look like? Should crypto gains be taxed like stock profits — or winning the lottery?

Korea crypto tax postponed, meanwhile CoinDCX looks to IPO

Hong Kong Stock Exchange-listed Huobi Technology Holdings today announced that it will be launching Huobi Lending, a cryptocurrency lending service for institutions and high net worth individuals (HNWI) through its new digital asset brokerage platform Huobi Brokerage, according to a company announcement. Fast facts Alongside growing institutional interest in digital assets, crypto lending services leveraging […]

Omicron hits markets meanwhile Japanese novel released as NFT

A new amendment to South Korea’s income tax law, which includes delaying the taxation on crypto gains by one year, was agreed upon by South Korean political parties at the National Assembly today. Fast facts The ruling Democratic Party and the opposing conservative People Power Party officially made a resolution at the National Assembly Strategy […]

The director of China’s central bank’s anti-money laundering office said the People’s Bank of China will establish a tracking system for the virtual assets, such as cryptocurrencies and NFTs, for cracking down on virtual-related crimes, adopting technologies such as artificial intelligence and machine learning, mainland China local media reported. Fast facts Gou Wenjun said at […]

Chinese companies are rushing to the fore to develop their metaverse ideas, though state media have recently warned about the associated risks the emerging technology could bring. Fast facts An opinion piece published yesterday by state-owned Economic Daily said the hotter the metaverse gets, the more the public should stay calm. The author wrote that […]

South Korea reaches a tentative agreement to delay a pending tax on virtual assets. Crypto investors in next-door Japan already face taxation up to 55%.

Tether, issuer of the world’s most popular stablecoin USDT, has responded in multiple tweets saying it will work with policymakers, after the U.S. Senate Banking Committee earlier this week sent letters to several stablecoin issuers — including Tether — to inquire about their operational features. Fast facts In the tweets, Tether said it appreciates the interest from […]

A bill to delay a pending tax on virtual assets failed to pass the National Assembly’s standing committee at a meeting yesterday, while the topic remains a huge factor in the upcoming presidential election. Fast facts The South Korean National Assembly’s tax subcommittee under its Strategy and Finance Committee had discussed an amendment to the […]

Gamevil, the South Korean mobile game software developer, has acquired blockchain technology company Zenaad with plans to grow as a platform for blockchain-based games. Fast facts Gamevil revealed yesterday that it has entered the final stage of constructing its blockchain ecosystem with the acquisition of Zenaad. The tech force at Zenaad has been internalized into […]

Cardano ADA and Tron TRX will no longer be available to eToro’s US customers next year while CRO reflects Crypto.com ‘going from strength to strength.’

India proposes crypto ban meanwhile Metaverse race heats up

The Australian Securities and Investments Commission (ASIC) has accused the owners of Gold Coast-based business A One Multi of scamming 92 investors out of AU$25 million (US$18 million) and are now in possession of a cold wallet believed to hold almost US$20 million in Bitcoin purchased with the defrauded funds, according to a report by […]

The Pacific island nation of Palau has partnered with San Francisco-based blockchain payments company Ripple on a U.S. dollar-backed digital currency for the country — the world’s first government-based national stablecoin — using the XRP Ledger, according to a Ripple announcement. Fast facts Ripple will provide Palau with technical, business, design and policy support for […]

The US Internal Revenue Service is taking a hard look at cryptocurrency transactions to crack down on tax dodgers. How can crypto holders protect themselves?

Three U.S. agencies released a joint statement outlining a plan to fast-track crypto-asset regulation in 2022.

Inner Mongolia police bust yet another digital yuan money laundering case.

South Korea’s Financial Services Commission (FSC) says some NFTs (non-fungible tokens) will be taxed from next year, overturning the finance minister’s stance on the topic announced just last month. The scope of taxable NFTs is yet to be determined by the tax authorities. Fast facts The FSC’s vice chairman Doh Kyu-sang said at the national […]

Korea stands firm on NFT games, meanwhile Laos introduces crypto regulations

Despite the global boom of play-to-earn games, South Korea will still ban blockchain-based video games that reward cashable NFTs.

The US Infrastructure Act has provisions that should make crypto advocates shudder, writes Alex Shipp of Offshift. Who will stand up for crypto’s core values?

El Salvador — the first country in the world to adopt Bitcoin as legal tender in September — plans on building the world’s first “Bitcoin City,” an entire city to be funded by Bitcoin bonds and powered by geothermal energy from one of the country’s many volcanoes, according to El Salvador’s official presidential Twitter page. […]

The securities markets regulator ordered $3.85B in fines, while new actions included ‘emerging threats’ in the crypto industry.

The promise of financial democratization forms the bedrock of DeFi’s appeal. But who’s in charge — and who to hold responsible when things go south?

Every morning at Upbit, the nation’s largest cryptocurrency exchange, a brief and odd surge in random altcoin prices takes place. Which crypto will it be tomorrow?

The U.S. Internal Revenue Service — the department responsible for collecting tax revenue — seized US$3.5 billion worth of cryptocurrencies during fiscal year 2021, accounting for 93% all assets seized by tax enforcement that year, according to the agency’s 2021 Criminal Investigation Report released Thursday. Fast facts An agency official said on a call with […]

17,437 virtual strangers chipped in over $40 million to jointly buy a rare copy of the US Constitution. They lost their bid but now has everyone asking: What is a DAO?

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 […]