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While fears of a complete ban on virtual currencies have been dispelled, Indian investors are still in the lurch about what may or may not be allowed.

Algorand (ALGO) — the native cryptocurrency of the Algorand blockchain — soared 50% from just under US$1.70 noon Asia time today to a new two-year high of US$2.66, according to CoinGecko data. But the surge was short-lived, with ALGO currently trading just under US$2 as of publishing time. Fast facts Algorand’s surge amidst the wider […]

Billions have been stolen through hacks from decentralized finance protocols, with Ethereum seeing the bulk of losses, according to a report by Elliptic.

Singapore-based cryptocurrency trading platform Coinhako has received in-principle approval from the Monetary Authority of Singapore for a digital payment token (DPT) service license — making it the first local native cryptocurrency exchange to announce that it is close to being granted the much-coveted license. Fast facts Coinhako is now working through the conditions of its […]

Ethereum blockchain software company ConsenSys today announced the completion of a US$200 million funding round, bringing the company’s valuation to US$3.2 billion as it seeks to spearhead the growth of Web 3.0. Fast facts ConsenSys’ announcement comes as the number of monthly active users of its MetaMask non-custodial wallet product exceeded 21 million — a 38-fold increase from […]

Central banks around the world are exploring digital currencies, writes Aymeric Salley of StraitsX. Here’s why Southeast Asia may be especially ripe for them.

A ticket to the metaverse is highly coveted in South Korea, whether it’s by an individual, a public company or a city government.

China’s mining exodus has flowed to the cowboy state that embraces crypto, but it might have to take into consideration the surging power loads.

First it was crypto derivatives FTX jumping into the game in Miami. Now Singapore-based Crypto.com has stepped it up a notch by dropping more than US$700 million to rename the iconic Staples Center in Los Angeles to Crypto.com Arena for 20 years, according to the Los Angeles Times. Fast facts This figure makes it one […]

The projects topped 300 rivals in their potential to improve the future digital Singapore dollar in payment services and financial inclusion. Who were the other winners?

The tiny island nation of Barbados announced it will build a virtual embassy in Decentraland.

While a significant legislative achievement for U.S. President Joe Biden, the US$1 trillion bipartisan infrastructure bill signed into law on Monday included provisions relating to cryptocurrency tax reporting requirements that has many in the industry nervous. Fast facts As Forkast.News previously reported, provisions were added to the bill as it was being drafted in August […]

As Circle expands into Asia as part of a global expansion plan, what does the investment in a yen-back stablecoin mean for the market?

While the government has yet to figure out the details, a crypto regulatory regime is expected to be released before February.

LuLu Exchange, a financial services company in the United Arab Emirates (UAE), and Pakistan’s Bank Alfalah are partnering to bring faster and more cost-effective cross-border payments and remittances from the UAE to Pakistan using RippleNet. Fast facts Bank Alfalah’s integration with RippleNet — Ripple’s global payments network for financial institutions — and its launch with […]

The creator of the Mirror protocol and its CEO Do Kwon have little recourse but to comply with the SEC subpoena to produce documents and testify.

As crypto projects are relocating from China to friendlier shores, it represents ‘huge opportunity’ for Taiwan.

As central bank digital currencies begin picking up steam around the world, the Central Bank of Nigeria announced on Friday the digital wallet for its own digital currency, the eNaira, has been downloaded 488,000 times in 160 countries — in just 19 days after its launch. Fast facts According to local news reports, after President […]

Developing regulations for decentralized finance is easier said than done. Attorneys Victor Ho, Andre Da Roza and Saranpaal Calais discuss the many legal and practical hurdles.

In another sign of increasing adoption of blockchain technology in the gaming industry, Forte — a leading provider of blockchain solutions for game publishers — has secured US$725 million in a Series B fundraising round, the firm announced. Fast facts Led by Sea Capital and Kora Management, this follows from the US$185 million it raised […]

First Digital Trust, a Hong Kong-regulated trust and custodian specializing in digital assets, has become the first official custodian of IX Swap, a security token and cryptocurrency exchange, according to a company announcement today. Fast facts IX Swap is a decentralized finance (DeFi) automated market maker and liquidity pool for security tokens and tokenized stocks. […]

The Financial Intelligence Unit (FIU) has accepted Coinone’s compliance report with South Korea’s latest crypto regulations, while Bithumb is left as the only crypto trading platform out of the country’s four major exchanges to not be officially registered under the FIU. Fast facts Coinone became the third official cryptocurrency exchange of South Korea, following Upbit […]

Charities are just beginning to explore the potential of NFTs, writes Billy Sebell of XinFin Network. Here’s how NFTs can help raise big money beyond artwork auctions.

Covid laid bare the gaps in people’s access to banking services. Moeda Seeds is looking not just to fill the gaps but to change the banking paradigm.

Only two days after hinting via Twitter that leading social media platform Discord may support Ethereum, company co-founder and CEO Jason Citron has clarified the platform “has no current plans” to integrate the two. Fast facts Tweeting in response to the original post, Citron thanked community members for their perspectives and reiterated the firm is […]

Trying to move beyond XRP, Ripple hopes its customers will join RippleNet with a wallet that supports fiat and other cryptos like Bitcoin and Ether.

Bitcoin & Beyond

Despite movement from both the ruling Democratic Party and the conservative party to delay the 20% virtual asset gains tax, South Korean finance minister still thinks it should start as planned for Jan. 1, 2022.

Panel looks at best practices in news coverage from Decrypt Media, CoinDesk, South China Morning Post.

While El Salvador carved out its place in history as the first country in the world to adopt Bitcoin as legal tender, there are others that may follow for an array of reasons.

From China’s crackdowns to El Salvador’s Bitcoin adoption, where is the world headed in how governments regard crypto? An expert panel explores the future of decentralized finance in the global economy.

Apple CEO Tim Cook has revealed that he owns cryptocurrency during a discussion yesterday at the New York Times’ Dealbook conference, responding to a question as to whether he owned either Bitcoin or Ethereum. Fast facts While he did not reveal which cryptocurrencies he held, the tech boss said in an interview with Andrew Ross […]

Cryptocurrency exchange Huobi Global will stop serving Singapore-based customers from March 31, 2022 to comply with Singapore laws, according to a company announcement on Nov. 9. Fast facts “To comply with the laws of Singapore, we will have to include Singapore as a restricted jurisdiction. Regrettably, this means Huobi Global can no longer offer services […]

Crypto is ‘a behavioral economics experiment,’ says Real Vision co-founder Raoul Pal. ‘Your incentive system is not a like button on Facebook, it’s money.’

As Ethereum has become the preferred blockchain for smart contracts, what’s the future of the Bitcoin blockchain?

Trust, data privacy and job elimination are some of the challenges that society will face as blockchain ushers in Web3.0, according to Don Tapscott.

What makes 2021’s roaring crypto market different from 2017’s are the banks and VCs piling in, writes Calvin Shen of Hex Trust. What’s behind their crypto adoption?

The highly competitive cryptocurrency exchange industry appears to be consolidating, according to blockchain analytics provider Chainalysis as part of its Competitive Landscape Report that will be released next week. Fast facts The number of active cryptocurrency exchanges peaked at 845 in August 2020 and stood at 672 as at August 2021, Chainalysis reported. The exchanges […]

Crypto market cap breaks US$3 trillion, also APAC crypto cards to launch

Top blockchain and crypto news: Ethereum rises and rivals follow. Taxing times for US investors. New life for reborn crypto miner.

Speaking at the Singapore FinTech Festival, Singapore central bank chief Ravi Menon announces the launch of Project Orchid, a digital dollar project.

New Jersey-based crypto banking services provider BlockFi and investment management firm Neuberger Berman jointly filed for a Bitcoin spot exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission on Tuesday. Fast facts In September, the U.S. got its first Bitcoin-linked ETF with the launch of ProShares Bitcoin Strategy Fund. But ProShares’ ETF was backed […]

Digital assets are disrupting financial services in ways not seen since the Middle Ages, writes Alex Tapscott of Ninepoint Partners. Here is the taxonomy for the future of finance.

As China continues to crack down on the private tutoring sector, one education-tech company has decided to pivot into blockchain and cryptocurrency mining. Fast facts Nasdaq-listed Meten Holding Group, which officially changed its name from Meten EdtechX Education Group in August, has moved forward with plan for the new business venture in the crypto world, […]

hashport, a public utility that facilitates the movement of digital assets between distributed ledger technology networks without the need for a native network token, today announced that it will launch on Nov. 9, according to a media statement. At launch, hashport will connect the Hedera public distributed ledger to the Ethereum and Polygon networks. Fast […]

As Solana surges to new all-time highs, 50 fintech experts surveyed by Finder offer predictions on SOL’s price outlook for the end of the year and longer-term.

The traditional financial industry is getting its feet wet in tokenization of assets, and there’s an influx of interest in the private asset space, as Mathew McDermott, managing director of Goldman Sachs, said today at a Hong Kong Fintech Week panel moderated by Angie Lau, editor-in-chief and founder of Forkast.News. Fast facts McDermott said Goldman […]

Blockdata co-founder Jonathan Knegtel thinks so. Almost a teenager, Bitcoin is reaching a level of maturity that’s defying the predictions of its critics.

22 private sector finance heavyweights together with the BIS and central banks of China, Hong Kong, Thailand, and UAE aim to achieve a production-ready international trade settlement platform using CBDCs.

London-headquartered fintech startup Revolut is looking to build its own crypto exchange, according to a new job posting. Fast facts The selected candidate will lead neobank Revolut’s “technical team to architect and build Revolut Crypto exchange,” the job posting says. The candidate will need experience in building order matching engines, like those used on crypto […]

Equities and Bitcoin have a clearly demonstrated bond, but now oil is strengthening its relationship to crypto, too

Solana prices keep cresting to new heights, making SOL a top-five cryptocurrency by size. What makes Solana and its ecosystem stand out? Forkast.News explains.

Lee Jae-myung, the ruling Democratic Party’s candidate for the upcoming presidential election in South Korea, may include in his election pledges setting up a government sector dedicated to supervising the virtual asset industry. Fast facts It is reported that Lee is considering including a plan in his presidential campaign to set up a unit similar […]

DeFi is here to stay, but regulations are still lacking. Jason Blick of EQIBank explores the challenges and how authorities can move forward.

e-CNY scam investigated meanwhile S Korea gets metaverse bug

BTS’ label dreams bigger than just dominating the K-pop world — they want to digitize the IP even more.

Information Technology (IT) firms in South Korea set up shop in the realm of the metaverse, with their first step being non-fungible token (NFT) platforms.

Police crack a tele-fraud case related to digital yuan money laundering, potentially thanks to the CBDC’s ‘managed anonymity’ feature.

Pay-for-play on Web 3.0 will instigate seismic shifts from centralized social media to community-driven platforms, writes Solo Ceesay of Calaxy. How would it work?

One of Asia’s largest fintech events returns for its sixth year with a hybrid format of live and virtual sessions. Regulators, corporations and experts share what’s important now in crypto.

Blockchain technology company Huobi Group is celebrating its 8th-year anniversary with a slew of events and giveaways — including a space trip “to the outer perimeters of Earth” — and a focus on expanding its global footprint, according to a company announcement. Fast facts Founded in 2013 in China, Huobi has made global expansion a priority […]

Yi Gang reiterates the PBOC’s stance to protect data, while failing to address privacy concerns over digital yuan.

Top blockchain and crypto news: Stablecoins at regulatory crossroads. Squid Game crypto players suffer shocking fate. Are metaverses China’s new national insecurity?

Amid debate in Australia surrounding the banking sector’s relationship with cryptocurrency, the country’s largest bank, Commonwealth Bank, will soon be allowing customers to buy, sell and hold crypto assets directly through its app — making it the first bank in the country to do so. Fast facts Partnering with leading global crypto exchange and custodian […]

The outcome of a Miami civil trial may uncover who Bitcoin creator Satoshi Nakamoto really was, and who owns his rumored US$66 billion in Bitcoin.

The highly awaited report outlines recommendations for stablecoin regulation and asks regulatory bodies to combat risks until Congress introduces new laws.

In a city where memories disappear every day, people are turning to blockchain to preserve news archives — so the first drafts of history will survive.

DOT, the native cryptocurrency of the Polkadot blockchain network, crossed the US$50 mark for the first time on Nov. 1 and reached a new all-time high (ATH) of US$50.87, surpassing its previous peak of US$48.73 in May, according to CoinGecko data. DOT, currently the 8th-largest cryptocurrency by market value, was trading at US$48.69 as of […]

Shanghai outlined its plan to expand digital yuan pilot programs into the city’s five-year plan, in a recently released policy statement, “Shanghai’s Five-Year Plan of Comprehensive Promotion of Urban Digital Transformation.” Fast facts The plan said the city will expand pilot program for online and offline payments, transportation and government services. Shanghai is among the […]

Stablecoins and central bank digital currencies (CBDCs) may not live up to their promise of increasing financial inclusion and improving cross-border payments in emerging markets, according to a new report by the Bank for International Settlements. Fast facts According to the report, the most important contribution of stablecoins is that they have drawn attention to […]

Red Date Technology, the company China tapped to manage its Blockchain-based Service Network (BSN), said today it plans to fully launch an infrastructure for non-fungible tokens (NFTs) by the end of January 2022. Fast facts Red Date revealed on Friday an NFT infrastructure plan — BSN-Distributed Digital Certificate (DDC) — at its BSN Open Permissioned […]

The global AML watchdog provides clarifications on how crypto is to be regulated — and why DeFi could see more scrutiny.