Search results: China

Closure of blockchain business may be related to regulatory concerns, but unlikely to hit crypto industry hard, observers say.

Facebook’s Novi, a digital wallet designed for its digital currency, Diem, is in hiring mode in the Philippines. Fast facts Facebook’s careers page currently shows five openings in the country for positions dedicated to Novi, including help operations investigator, onboarding coordinator and learning business partner. It has only one other opening in the entire Asia-Pacific […]

Bit Mining pivots overseas as Ethereum creator Vitalik Buterin joins animated crypto series ‘Stoned Cats’ cast.

Three blockchain and crypto-related companies have donated hundreds of millions of yuan to China’s Henan Province, which has suffered deadly floods since last week. Fast facts Bitmain, a crypto mining firm was the first to announce a donation of 10 million yuan (US$1.54 million) on July 23 to a charity federation in Zhengzhou, the provincial […]

Binance, the world’s biggest cryptocurrency exchange by trading volume, appears to be expanding its Singapore office. At the time of publishing, Linkedin showed that it had 261 job vacancies in Singapore — where its CEO, Changpeng Zhao, allegedly lives — among 964 vacancies globally.  Fast facts The talent Binance is seeking ranges from futures growth […]

Chinese cryptocurrency mining rig maker Bitmain has partnered with Enegix, which runs one of the biggest crypto mining data centers in Kazakhstan, to host its Antminer machines in the Central Asian nation. Fast facts Bitmain said in a statement on Friday that it had joined hands with Enegix, a data center operator in Kazakhstan, to […]

BIT Mining — a New York Stock Exchange-listed company that only months ago became a big investor in Chinese cryptocurrency mining — has decided to exit its Chinese lottery-related business and focus more on mining outside the country. Fast facts BIT Mining, formerly known as 500.com, has operated online sports lottery services, but announced on […]

Amid growing concerns surrounding ransomware attacks in the U.S., Senator Gary Peters has announced a bipartisan investigation of how cryptocurrencies could be facilitating such activity, Bitcoin.com reports. Fast facts In a statement, Sen. Peters, who is also the chairman of the Homeland Security and Governmental Affairs Committee, said: “The increased use of cryptocurrencies as the […]

Valkyrie is among a growing number of asset managers at the SEC’s door, seeking approval to offer a Bitcoin ETF. Will a Bitcoin ETF ever get the green light in the United States?

Speaking at an SCB 10X DeFi virtual summit, Binance CEO Changpeng Zhao says an IPO is not out of the question, but that the exchange first needs to set up corporate structures as it navigates increased regulatory scrutiny.

Case could be first fatality associated with mining, although hot-running equipment has history of starting fires.

A digital yuan wallet app launched by China’s central bank will include an electricity bill payment feature designed by the country’s State Grid, according to Economic Information Daily, a local financial media outlet.  Fast facts Users will be able to pay their electricity bills through the digital yuan app directly and do not need to […]

Indonesia has seen red-hot growth in the crypto asset market, but the country’s regulators are just beginning to get to grips with burgeoning industry and formulate policy responses.

Ping An trials e-CNY while Core Scientific is the next to get on the SPAC train.

China’s trial of e-CNY, the digital version of the national currency, the yuan, has extended to the insurance industry, with conglomerate Ping An encouraging medical staff in the southern city of Shenzhen to pay premiums for a Covid-19 insurance plan using the new currency. Fast facts One Ping An branch in Shenzhen is offering insurance […]

Hong Kong-based blockchain gaming company Animoca Brands and global venture accelerator Brinc have launched Launchpad Luna, a new accelerator program to identify, mentor, and invest in promising blockchain and non-fungible tokens (NFT) startups, according to a company statement. Fast facts Projects accepted into the accelerator program will receive training, end-to-end support and funding of up […]

Tesla CEO Elon Musk said while Bitcoin mining is steadily becoming more environmentally friendly through the use of renewable energy, he is not yet sure that it’s enough for Tesla to resume accepting the cryptocurrency as payment for purchases. Fast facts Speaking at the virtual Bitcoin event “The ₿ Word” with fellow panelists Twitter CEO […]

Top blockchain and crypto news: FTX swells to $18 billion valuation. Etherum and Dogecoin disowned by creators. US pols call for Olympics boycott of e-yuan.

As Bitcoin’s carbon footprint continues to make ESG investors uneasy, a new clean-energy crypto mining ETF aims to allay their environmental concerns.

US Senators urge E-CNY ban while Russia woos crypto-miners

Demand for non-fungible tokens appears insatiable as industry distances itself from crypto sector to avoid crackdown.

Privacy concerns prompt call for Americans to avoid e-CNY as lawmakers point to use of WeChat app to ‘surveil, threaten and arrest Chinese citizens.’

Retailers reluctant to accept currency they are said not to trust even as large finance sector players offer crypto products and beef up their holdings.

U.S. Treasury Secretary Janet Yellen says that the United States needs “to act quickly to ensure there is an appropriate U.S. regulatory framework in place” for stablecoins. Fast facts Yellen made her comments at a Meeting of the President’s Working Group on Financial Markets, held on July 19. According to a readout of the meeting, […]

E-CNY white paper explains how it will work with physical RMB while Malaysia steamrolls mining rigs.

In viral video, Borneo police use a giant steamroller to destroy 1,069 crypto mining rigs that had been caught running on stolen electricity.

A round of crowdfunding for Ethereum documentary “Ethereum: The Infinite Garden,” which is set to feature Ethereum co-founder Vitalik Buterin and Ethereum Foundation Executive Director Aya Miyaguchi, has exceeded its target of 750 ETH, raising 1,035.96 ETH (around US$2 million). Fast facts In the spirit of decentralization, the fundraising exercise, which ended on July 16, […]

While the West has first mover advantage in traditional banking, Asia — not wedded to ol infrastructure — now has an edge in the crypto era, says Michael Shaulov of Fireblocks.

Bitcoin interest declines while Rolling Stone gets into NFTs.

The price of gold is rising with inflation. Then why is ‘digital gold’ Bitcoin’s price stagnant — and public interest in BTC falling to a new low?

Bishijie’s suspension deprives users of industry news and community forum as Beijing continues campaign targeting cryptocurrency sector.

Tether stablecoins linked to funds funneled to banks in Singapore and elsewhere amid worldwide cryptocurrency crime increase.

Singapore-based crypto derivatives exchange Bybit today announced the launch of a new cryptocurrency spot trading platform. Fast facts The spot trading platform offered BTC/USDT, ETH/USDT, XRP/USDT and EOS/USDT trading pairs at its launch, and more will be introduced. Traders will be able to buy and sell crypto coins at current market prices once orders are […]

The Reserve Bank of Australia is researching the implementation of a central bank digital currency — despite not seeing a need for it.

Privacy-focused cloud computing project Phala Network’s “canary network” Khala this week won the fourth Kusama parachain slot auction with 132,280 Kusama (KSM) contributed by 2,759 addresses. A canary network is an experimental environment for blockchain developers to build and test out their code as well as products and services. Fast facts Phala Network is designed […]

Top blockchain and crypto news: Crypto markets await Bitcoin fund release. USDC issuer opts for the back door. In China, NFT copyrights and wrongs.

ICICI blocks crypto transfers as South Korean banks are to report crypto crime.

Proliferation of copycat non-fungible tokens based on media image sparks fresh concerns over authenticity, creators’ rights.

ICICI bank, one of India’s largest lenders, has warned its customers against using its international remittance services for transferring any form of cryptocurrency, the Bharat Express reports. Fast facts The Industrial Credit and Investment Corporation of India recently made an amendment to an international remittance form compelling customers to declare: “The above remittance is NOT […]

As issuer Circle prepares to list and China sounds the alarm over speculation, the mood among regulators is mixed, despite stablecoins’ clear appeal to investors.

South Korean financial watchdog says the nation’s crypto laws will apply to foreign exchanges.

In the first of a four-part series, Forkast.News looks at how non-fungible tokens may be changing who calls the tune in the recording business.

Soaring BTC and altcoin prices earlier this year drew in new investors, who now worry about the current slump. Will crypto prices rise again, or are modest valuations here to stay?

Crypto industry gets the ‘overleveraged’ label and authorities are cracking down on derivatives providers. Alexander Höptner of 100x believes the pushback foreshadows the industry’s next big thing — derivatives.

In a new report, BIS says countries must work together and design CBDCs with interoperability in mind. Hong Kong and Singapore lead mCBDC efforts.

The price of Bitcoin and other cryptocurrency continue to slide as global failure to contain the Covid Delta variant lead to worries of another economic downturn.

NFTs offer haven as authors self-censor amid intensifying crackdown on free expression.

Though Dogecoin and NFTs dominate headlines, their underlying technology — blockchain — is transforming our world in more meaningful ways, according to authors Kosrow Dehnad and Joe Duncan.

Korea issues penalties for kimchi premium arbitrage as China holds its 15th digital yuan pilot trials.

Warning comes as Beijing ramps up efforts to internationalize China’s currency through launch of digital yuan.

The Bank of Jamaica’s much-anticipated central bank digital currency will launch next month, according to a report by the Jamaica Observer. Fast facts Previously due to launch in May, the CBDC will initially be implemented through the National Commercial Bank — the biggest financial institution in the country — before being expanded to other banks […]

Chinese tech giant forecasts a US$17.3 million loss in its BTC investment as more musicians in Asia lean towards NFTs.

Chinese blockchain company Easy Visible has disclosed a loss of more than 11.52 billion yuan (US$1.78 billion) for 2020 in an annual report filed two months late. The loss equates to 1.74 times the company’s July 5 market value of 6.66 billion yuan. Fast facts On May 6 the company was suspended from trading on the […]

China’s central bank has reiterated its ban on cryptocurrency trading and yesterday said it had ordered a company in Beijing suspected of offering software services for crypto trading to shut down as part of an ongoing nationwide crackdown on the crypto industry. Fast facts A Beijing office of the People’s Bank of China and a […]

Higher value of Ether investments softens blow to value of Bitcoin holdings.

Facing an onslaught of regulatory scrutiny, Binance CEO calls crypto regulations ‘positive sign’ of a maturing industry and announces new hires in compliance.

Eddie Yue, CEO of Hong Kong Monetary Authority lays out the future of the territory’s digital currency at a Hong Kong Academy of Finance event.

Ethereum’s long-awaited London hard fork — which earlier was expected to go live this month — is now going to launch on August 4 between 13:00 UTC and 17:00 UTC with block 12,965,000, Ethereum developer Tim Beiko said in a recent blog post. Fast facts Following the successful release of its three testnets, Ropsten, Goerli and […]

The supply of BTC held on exchanges has hit its lowest point since January, suggesting the worst of the coin’s selloff is over, according to data from crypto analytics firm Santiment. Fast facts Santiment tweeted yesterday: “The 6-month low is a promising sign, as it generally will indicate there is a decreased risk of more […]

Japan’s plan to launch a digital yen is likely to come into sharper focus in late 2022, a lawmaker overseeing the ruling Liberal Democratic Party’s digital currency strategy has told Reuters.  Fast facts The Bank of Japan launched the first phase of a central bank digital currency experiment in April. It hopes to move to […]

Crypto exchanges WazirX and Binance look to implement stronger compliance measures. Forkast News speaks with FTX founder and CEO Sam Bankman-Fried about crypto regulatory measures in Asia. Chinese district rewards residents with e-Yuan for counting footsteps. We’ll have more on these stories and other news shaping the cryptocurrency and blockchain world in this episode of […]

El Salvador recently became the first country to recognize Bitcoin as legal tender, and it seems unlikely to be the last. Samson Mow, chief strategy officer of Bitcoin technology company Blockstream, looks forward to a future in which Bitcoin edges out fiat currency.

As countries step up their implementation of the Financial Action Task Force’s standards, the list of regulators that have Binance in their crosshairs just keeps growing longer. Fast facts Thailand’s Securities and Exchange Commission today filed a criminal complaint against Binance — the world’s largest cryptocurrency exchange by trading volume — for operating a digital asset […]

Elon Musk has once again sent a coin’s price skyward with a simple tweet; this time more than doubling the price of the memecoin Baby Doge by inserting its name into the lyrics of popular children’s song, “Baby Shark”. Fast facts Replacing the title of the song with the name of the coin, the tweet […]

Crypto exchange Huobi yesterday issued an announcement in simplified Chinese saying that it would implement a “T+1” withdrawal freezing time for all over-the-counter trades, meaning that traders can transfer cryptocurrency out only 24 hours after depositing it. In some cases, the freeze will last up to 36 hours.  Fast facts At present, the announcement appears […]

Demand for blockchain analytics is on the rise as FTX partners up with NFL superstar quarterback Tom Brady and supermodel Gisele Bündchen.

Adoption of e-CNY for urban transport networks marks first step in wider introduction of state-backed digital money.

Hex Trust, a Hong Kong-based digital asset custodian, today announced that it has secured investment from Cyberport, a technology incubator project backed by the Hong Kong government.

In the last installment of a 3-part series on blockchain in Asia, Forkast.News examines: Everyone knows money has value. But does it also have ‘values’?

Although institutional interest in Bitcoin is rising, there is still the volatility conundrum to consider. Bitcoin’s market fluctuations, however, make it a poor store of value. But, at the same time, there is an advantage to keeping capital stored in crypto: cashing out crypto into fiat is almost always a taxable event and not ideal […]

South Korea’s top asset managers are racing to get into the metaverse game while Forkast.News visits a decentralized theme park in Hong Kong.

Top three digital asset market trends shaping the future Three key trends in the digital asset market are: Tokenization of widely traded traditional assets, such as stocks and bonds; Tokenization of previously untraded or under-traded assets, such as real estate and fine art; Institutional adoption and trading of digital tokens. During the past year the […]