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SEC’s Gensler says proof-of-stake cryptocurrencies may be securities

When is a cryptocurrency a security and when is it not? Financial regulators around the world are raising that question. The answer that comes out of the U.S. may set the tone, but South Korea is also ahead in tackling it.

As “The Merge” succeeds, rival ETHPoW fork falters

ETHPoW, the Ethereum hard fork blockchain intended to preserve proof-of-work after the native chain transitioned to proof-of-stake, is facing technical difficulties despite months of anticipation.  See related article: Ethereum says Merge upgrade successfully completed, more to come Fast facts Prior to the fork, it was announced that ETHW tokens would be airdropped to Ethereum holders. […]

S.Korea finance regulator: crypto can be subject to capital markets law

South Korea’s Financial Supervisory Service (FSS) governor Lee Bok-hyun says he disagrees with the view that crypto cannot be seen as financial investment products or securities, while revealing he assisted local prosecutors in designating Terra-LUNA tokens as securities, according to local media reports. See related article: Securities or not? South Korea to evaluate Terra’s LUNA […]

Markets: Bitcoin dips below US$20,000; Ether, ETC fall post-Merge

Bitcoin fell below the US$20,000 support line in Friday morning trading in Asia, while Ether saw a sell-off following the long-awaited network “Merge” on Thursday. The total cryptocurrency market capitalization fell below US$1 trillion as all top 10 tokens were trading down. See related article: Ethereum says Merge upgrade successfully completed, more to come Fast […]

Singapore grants capital markets license to SBI’s digital asset arm

SBI Digital Markets Pte. Ltd. (SBI DM) has received a Capital Markets Services (CMS) license from Singapore’s central bank, which allows it to provide custodial services and offer capital markets products. See related article: Singapore’s MAS says needs to do better job explaining crypto policy Fast facts SBI DM plans to launch a digital asset […]

Thailand bans crypto lending and staking services

The Thailand Securities and Exchange Commission (SEC) has prohibited cryptocurrency companies from offering digital assets lending and staking products, or depository services.  See related article: Thailand’s SCBX scraps plan to buy 51% stake in crypto exchange Bitkub Fast facts The regulator said in a press release on Thursday that the decision was made to protect […]

Merge finally arrives; India’s female traders

Welcome to The Daily Forkast – September 15, 2022 – presented by Megha Chaddah. Coming up on today’s show: Ethereum’s Merge is complete. Indian women start to plug into cryptocurrency trading. And finally, can the crypto world shrug off carbon footprint concerns? We’ll have more on those stories — and other news shaping the cryptocurrency […]

CEL price rallies to US$4.26 during Ethereum’s Merge

The bankrupt crypto lender Celsius Network’s native CEL token suddenly spiked to US$4.26, during Ethereum’s much-anticipated Merge, according to data from CoinGecko. See related article: Celsius CEO Alex Mashinsky floats restructuring as custody business amid bankruptcy proceedings Fast facts CEL’s price has since dropped to US$1.94, making it the 61st largest cryptocurrency by market capitalization, […]

Asia dominates Chainalysis’ 2022 crypto adoption index, China returns to top 10

APAC is leading in crypto use and adoption, according to a new report from U.S. blockchain analysis firm Chainalysis released on Wednesday, with China returning to the report’s top 10 countries for crypto adoption after it fell out of the list last year. APAC accounted for six of the top 10 countries in the index. […]

Markets: Prices rise as Ethereum Merge boosts ETH, linked tokens

Cryptocurrency markets trended higher in Thursday afternoon trading in Asia, with global market capitalization up 0.4% in 24 hours, trading at US$995.9 billion, still under the US$1 trillion benchmark it dropped below last night. All cryptocurrencies in the top 10 by market cap, with the exception of Bitcoin, strengthened.  See related article: Markets: Bitcoin little […]

Ethereum says Merge upgrade successfully completed, more to come

The Merge is a milestone in slashing electricity use on the Ethereum blockchain, but there are plenty more upgrades in the pipeline.

Fed vs The Merge; Crypto regulation conversations

Welcome to The Daily Forkast – September 14, 2022 – presented by Megha Chaddah. Coming up on today’s show: Will the Merge solve the market’s woes? Regulators paying heed to crypto. We’ll have more on those stories — and other news shaping the cryptocurrency and blockchain world — in this episode of The Daily Forkast […]

Binance launches Ethereum staking ahead of Merge upgrade

Top blockchain and crypto news: Binance bets on Ethereum Merge. What does Terra’s sudden resurgence mean? China seeks to expand e-CNY ecosystem.

Markets: Bitcoin, Ether slide, crypto market cap drops under US$1 trillion

Cryptocurrency markets continued their skid in Wednesday afternoon trading in Asia, with the global market capitalization dipping to around US$997 billion, down 6% in the last 24 hours. All cryptocurrencies in the top 10 by market cap fell. Solana led the losers, with Bitcoin coming in second. Stock markets slumped. See related article: Markets: Bitcoin, […]

China’s two systems for crypto: Trading is banned, but virtual assets can be protected

In a decision involving Litecoin, a Chinese court says there are no rules ‘that negate the protectability of cryptocurrency itself as virtual property.’

South Korea issues arrest warrant for Terraform Labs CEO Do Kwon

South Korean prosecutors investigating the collapse of Terra-LUNA have issued an arrest warrant for Terraform Labs cofounder and chief executive officer Kwon Do-hyung, also known as Do Kwon, the Seoul Southern District Prosecutors’ Office told Forkast. See related article: Securities or not? South Korea to evaluate Terra’s LUNA token Fast facts “Violation of the capital […]

Bitcoin mining difficulty reaches all-time high, up 3.5% in latest adjustment

Bitcoin mining difficulty rose by 3.45% on Wednesday, reaching an all-time high, according to data from BTC.com. See related article: Argentinian tax agency conducts first-ever raids on illegal crypto mining farms Fast facts The mining difficulty reading was at 32.05 trillion, as of block height 753,984, the data showed. The difficulty level, which changes about […]

Huobi becomes third global exchange to sign with S.Korea’s Busan city

Global cryptocurrency exchange Huobi Global announced it will sign a memorandum of understanding with South Korea’s Busan city on Wednesday to help the city establish its first crypto exchange and promote its blockchain ecosystem. See related article: Binance to help S. Korea’s Busan build first city-backed exchange Fast facts The agreement entails Huobi providing technical […]

Bitcoin drops 4% after U.S. August CPI rises 0.1% from July

Bitcoin, the largest cryptocurrency by market capitalization, dropped over 4% at 9.40 p.m. Hong Kong time, after the U.S. Bureau of Labor Statistics reported that the consumer price index (CPI) had inched up 0.1% in August from July.  See related article: Markets: Bitcoin, Solana continue rally, Ether slips in anticipation of Merge Fast facts The […]

NFT double disruption?; Web3 women celebrated

The NEAR foundation, in partnership with Forkast, has announced the Women in Web3 winners.

Filecoin service provider RRMine leaves China for Singapore

Tighter restrictions on cryptocurrency usage in China have prompted leading storage service platform RRMine Global to close its mainland China operations and move its headquarters to Singapore. See related article: China has seen blockchain’s future and it doesn’t include cryptocurrencies Fast facts “As Singapore has been one of the world’s most open economies for a […]

Argentinian tax agency conducts first-ever raids on illegal crypto mining farms

Argentina’s tax collection agency (AFIP) has concluded its first-ever operations against illegal and “clandestine” crypto mining farms operating within the country, the agency announced last week. See related article: Crypto miners should disclose energy data, US lawmakers say Fast facts The AFIP conducted four raids on crypto farms that were under the guise of other […]

Crypto Fraud and Asset Recovery Network in U.K. launches Hong Kong chapter

The Crypto Fraud and Asset Recovery Network (CFAAR), which calls itself the first global network of its kind, has launched a Hong Kong-based chapter in collaboration with seven local finance, law, and crypto regulation experts.  See related article: Australia establishes federal crypto police unit Fast facts The Crypto Fraud and Asset Recovery network began in […]

Singapore central bank says data on crypto holdings by general public not available

The Monetary Authority of Singapore (MAS) said it is unable to determine the proportion of cryptocurrency holdings by the general public in the city-state as these include transactions with both Singapore-based as well as overseas service providers.   See related article: Singapore’s MAS says needs to do better job explaining crypto policy Fast facts “Data on […]

Huobi to delist ‘privacy tokens’ including Monero, citing regulatory pressure

Crypto exchange Huobi has ceased topping-up service for seven kinds of privacy-focused tokens on its exchange as it prepares to delist the tokens on Sept. 19, citing regulatory concerns. See related article: Privacy protocol Monero completes upgrade to make transactions more private Fast facts See related article: Huobi-incubated Chinese NFT platform iBox ends international operations

All aboard the good ship Ethereum for The Merge. Next stop? 

The most critical upgrade in Ethereum’s history is just around the corner, so what will it mean for prices of cryptocurrency?

Ripple opposes SEC request to seal expert witness identities in XRP lawsuit

Cryptocurrency firm Ripple Labs filed a letter of response on Monday to oppose the U.S. Securities and Exchange Commission’s request to seal portions of legal filings that contain information identifying the SEC’s proposed expert witnesses, as the SEC’s lawsuit against Ripple Labs drags on. See related article: SEC seeks to seal information exposing expert witness […]

Fidelity considers Bitcoin trading on brokerage platform: WSJ

The financial services giant Fidelity Investments is considering a move that would allow its individual brokerage customers to trade Bitcoin (BTC), according to a Wall Street Journal report.  See related article: Fidelity’s crypto arm wants to add Ethereum trading, plans hiring spree Fast facts The WSJ cited “people familiar with the matter” and a statement […]

Central banks of France, Nigeria latest to join Hyperledger Foundation

Banque de France and the Central Bank of Nigeria will headline the newest batch of eight members joining the Linux Foundation’s enterprise blockchain ecosystem, the Hyperledger Foundation. See related article: Back to the future: Blockchain returns to the real world Fast facts See related article: How enterprises are fueling blockchain adoption among SMEs

SEC to open digital asset office as it cranks up regulatory scrutiny of cryptocurrencies

Amid an increased focus on cryptocurrency among global regulators and lawmakers, the U.S. Securities and Exchange Commission (SEC) is launching a new office dedicated to reviewing filings related to digital assets. See related article: MicroStrategy and Michael Saylor sued by District of Columbia for evading taxes Fast facts The SEC is adding the Office of […]

Markets: Bitcoin back above US$20,000, Ether rallies, Solana leads gains in Top 10

Bitcoin and Ether rallied in late Friday afternoon trading in Asia, helping drive up the global cryptocurrency market capitalization more than 5% to back above the US$1 trillion mark.  Solana led the gains among tokens in CoinMarketCap’s top 10 by market capitalization.  See related article: Markets: Bitcoin, Ether little changed; Polkadot leaps Dogecoin into crypto […]

US$30 mln seized from North Korea hacking group: report

Over US$30 million worth of cryptocurrency stolen by North Korea-linked hackers has been seized by law enforcement, with the help of crypto organizations like the Chainalysis Crypto Incident Response Team. See related article: North Korea behind Ronin hack: US Fast facts This marks the first time that digital assets stolen from North Korean hacking groups […]

US raises red flag on crypto mining with concerns over carbon emissions

White House says carbon footprint of crypto industry does not align with goals to decarbonize the economy.

The Ethereum Merge approaches; Building better systems

The Bellatrix upgrade for Ethereum is now live, but what should we be expecting as the merge comes closer?

Elon Musk Dogecoin lawsuit heats up with new parties joining

The US$258 billion lawsuit filed against Tesla CEO Elon Musk by an American Dogecoin investor accusing him of running a Dogecoin cryptocurrency pyramid scheme is heating up as new players are summoned in the case. See related article: Markets: Dogecoin still in the dog house; Bitcoin, Ether make up some ground Fast facts First filed […]

Crypto lender Nexo introduces spot, futures trading

Cryptocurrency lender Nexo has launched a spot, margin and futures trading platform for retail clients with the launch of Nexo Pro. See related article: Nexo and Fidelity Digital Assets expand institutional lending services Fast facts The London-based crypto platform aims to offer retail clients access to institutional-grade aggregated liquidity with no minimum funding requirements, the […]

Thai regulator files police complaint against Zipmex for non-compliance

The Securities and Exchange Commission of Thailand (Thai SEC) has filed a police complaint against cryptocurrency exchange Zipmex and Akalarp Yimwilai, cofounder of the company and CEO of its Thai unit, for non-compliance. See related article: Thailand mandates warnings on crypto ads Fast facts In a statement, Thai SEC said it had ordered Zipmex to […]

FTX partnership boosts GameStop despite mixed quarterly results

GameStop shares jumped over 11% in after-market trading on Wednesday following an announced partnership with the cryptocurrency exchange giant FTX US, which will focus on “new e-commerce and online marketing initiatives.” See related article: FTX agrees to help South Korea’s Busan build its own crypto exchange Fast facts The announcement came in tandem with GameStop’s […]

China’s non-crypto blockchain

China’s BSN pushes use of its Spartan Network – a non-crypto blockchain – outside of China.

SEBA Bank launches Ethereum staking services as ‘Merge’ nears

Switzerland-based SEBA Bank, a global cryptocurrency lender, has introduced Ethereum staking services aimed at enabling clients to earn staking rewards on Ethereum. See related article: Ethereum’s Bellatrix upgrade now live despite concerns Fast facts Ethereum staking services would enable clients to earn rewards on a monthly basis, with adjustable lock-up periods available post-Merge, SEBA Bank […]

Binance pushes out USDC in aggressive move to boost its own stablecoin

Top blockchain and crypto news: USDC gets the boot from Binance. MicroStrategy looks for Lightning strikes. STEPN heads to Hong Kong.

Markets: Bitcoin stays under US$19,000, Ether biggest loser among top 10 crypto

Bitcoin fell further in Wednesday afternoon trading in Asia, while Ether lost the most ground among the top 10 cryptocurrencies by market capitalization. Ethereum Classic fell more than 15%.   See related article: Markets: Bitcoin slumps below US$19,000, Ether drops despite Merge progress Fast facts Bitcoin dropped 5.6% in the past 24 hours to US$18,801.4 at […]
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China has seen blockchain’s future and it doesn’t include cryptocurrencies

China’s Blockchain-based Service Network wears two hats in building blockchains: one for business in China and one for everywhere else, but it doesn’t see a role for crypto in either.

Crypto could pose ‘major’ risk to S.Korea’s financial stability, think tank says

The country’s growing ties to crypto could expose its financial sector to volatility and ‘damage its credibility,’ a researcher says.

RBI asks 4 state-run banks to test digital rupee, in talks with fintech: report

India’s Reserve Bank of India has asked four state-run banks to test its central bank digital currency (CBDC), due for launch this financial year, even as the central bank seeks a ban on cryptocurrency trading in the country.  See related article: RBI is causing crypto hesitancy among Indian banks Fast facts RBI has chosen the […]

World Economic Forum argues for CBDCs, Australia latest to test use-case technology

With over 100 countries experimenting with the technology behind Central Bank Digital Currencies, the World Economic Forum of Davos fame lays out its views on the potential benefits and drawbacks of CBDCs.

Binance halts USDC support; Inflation hits crypto

Binance puts it’s own stablecoin, BUSD, at the forefront. Meanwhile, inflation casts its own shadow across the crypto.

Crypto exchange Bybit barred from brokering securities in Brazil

The Securities and Exchange Commission of Brazil (CVM) has banned Singapore-based cryptocurrency exchange Bybit from brokering “securities” within the country.   See related article: Thailand mandates warnings on crypto ads Fast facts The CVM released a declaratory act, in an announcement on Monday, that ordered the suspension of Bybit’s security offerings and intermediation services directly or […]

Binance move to remove USDC and others raise questions about market conduct

The world’s largest cryptocurrency exchange said the move was designed to “enhance liquidity and capital-efficiency for users.” 

Indian police arrest alleged crypto trickster in US$31 mln scam: report

Indian police in the state of Maharashtra have arrested a man on charges of cheating 1,441 investors in a fake cryptocurrency scam, according to a local media report.  See related article: Tax authorities recover US$9M from India’s biggest crypto exchanges Fast facts The scam may be in excess of 2.5 billion rupees (US$31.2 million) and […]

Australia establishes federal crypto police unit

The Australian Federal Police (AFP) have set up a crypto crime unit that will trace and seize illicit cryptocurrency linked to money laundering and other criminal activity, the Australian Financial Review (AFR) reported Monday. See related article: Ukraine National Police takes down crypto fraud cybercrime group Fast facts Launched in August, the unit will help […]

Singapore’s DBS commits to crypto offerings despite slump: report

Singapore’s largest bank, DBS, aims to expand its cryptocurrency and digital assets offerings to 300,000 new clients in the face of the crypto bear market, according to a Financial Times report on Tuesday.  See related article: Why DBS’ move into the digital asset space is more than a token gesture Fast facts In an interview, […]

Why play-to-earn gaming is losing steam and where GameFi must go next

Axie Infinity’s decline shows that earning can’t be everything, writes Riaz Lalani of Gambit Games. What went wrong with P2E and what can we learn from it?

Poolin pauses withdrawals from Pool Accounts, admits liquidity issues

Poolin has paused withdrawals from its wallets known as “Pool Accounts”, the major Bitcoin and cryptocurrency mining pool said in a statement on Monday. See related article: Poolin partners with crypto trading firm Quant Satoshi to expand US business Fast facts A recent surge in withdrawal demand is the primary root of the mining pool’s […]

Where will DeFi be after crypto winter ends?

The collapse of Celsius and Anchor wasn’t a failure of DeFi, writes Kaaran Kalantari of WingRiders. They failed to assess risk, and crypto Darwinism took shape.

New hire in Saudi Central Bank to work on crypto regulations: report

Saudi Arabia’s central bank has appointed Mohsen AlZahrani, a former managing director at consultancy firm Accenture, to head its virtual assets and central bank digital currency (CBDC) initiative, Bloomberg reported. See related article: Governments pushing for CBDCs smell blood in Terra Classic’s struggles Fast facts With the United Arab Emirates aiming to be a global […]

Anti-crypto U.S. congressman says too much power, money prevent all-out ban

U.S. Congressman Brad Sherman, who chairs a House subcommittee on investor protection and a leading crypto skeptic in Washington, is seeking more stringent cryptocurrency regulation, if not all-out bans, according to a report by the LA Times. See related article:  CFTC, SEC seek input on hedge fund crypto reporting rules Fast facts In an interview […]

India crypto exchanges plan long-term future as day traders flee 

In facing a government hostile to cryptocurrency trading, Indian exchanges are trying to attract new business with suites of different investment products.

Markets: Bitcoin, Ether edge up; Cardano, Solana lead gains in crypto top 10

Bitcoin rose slightly in Monday morning trading in Asia, but the world’s largest cryptocurrency was trading below the key resistance line of US$20,000 after falling below that mark on Saturday. Ether edged up, along with Cardano and Solana, while most other tokens in the top 10 by market capitalization were little changed. See related article: […]

Blockchain unchained: How crypto can empower women

How can blockchain help women gain financial independence? And how can female participation be boosted? Social entrepreneur Wendy Diamond explains

Thailand mandates warnings on crypto ads

Cryptocurrency advertisements in Thailand must indicate potential risks of investing in the nascent asset class, the nation’s Securities and Exchange Commission (SEC) said in a statement on Thursday.   See related article: Singapore central bank warns against crypto marketing, promotion Fast facts Crypto businesses in the Southeast Asian nation must report all details of advertisements and […]

Binance chief Changpeng Zhao reiterates Binance not a Chinese company

Binance founder and CEO Changpeng Zhao reiterated that Binance is not a Chinese company and it “was never incorporated in China,” as the country continues to ban cryptocurrency trading. See related article: Binance to help S. Korea’s Busan build first city-backed exchange Fast facts In a blog post published on Thursday, Zhao wrote that the […]

Binance says it complies with regulators following US anti-money laundering probe report

Binance, the world’s largest cryptocurrency exchange by trading volume, said it has worked with regulatory agencies from around the world to address outstanding compliance questions, following a Reuters report that U.S. federal prosecutors asked the exchange to offer internal records involving founder and CEO Changpeng Zhao for anti-money laundering checks in late 2020. See related […]

Crypto lender Celsius to return US$50 mln to locked out users

Celsius Network Ltd., which has filed for Chapter 11 bankruptcy, has filed a motion to return around US$50 million worth of tokens to a portion of holders as these funds are not part of the bankruptcy estate, unlike funds from Earn and Borrow clients. The hearing on the filing will take place on Oct. 6. […]

Bitcoin fluctuates, Ether gains, MATIC jumps on Robinhood inclusion

Bitcoin was fluctuating around US$20,000, while Ether was among the biggest gainers in the cryptocurrency top 10 by market capitalization in early Friday morning trading in Asia. Most other tokens on the list were little changed, though Cardano rose. See related article: Markets: Bitcoin, Ether, Cardano slip; remnants of Terra – USTC and LUNC – […]

BABL tanks 92% after Babylon Finance announces shut down

BABL, the native cryptocurrency of Babylon Finance, has lost 92% of its value after the decentralized finance (DeFi) asset management protocol’s founder Ramon Recuero on Wednesday announced plans to shut down its services. See related article: Chainalysis says $2 bln stolen in cross-chain bridge hacks this year, more expected Fast facts The token was trading […]

PoW fork supported?; Making DeFi better

We take a look at how the Ethereum PoW fork has gained crypto exchange backings in this episode of The Daily Forkast.

South Korea’s taxman keeps circling crypto – airdrops look to be the next target

South Korea last week said crypto token airdrops are subject to a gift tax of as much as 50% under existing laws, but what is the likelihood this rule can be applied to digital holdings?

Markets: Bitcoin, Ether, Cardano slip; remnants of Terra – USTC and LUNC – jump

Bitcoin slid back down under the US$20,000 mark late afternoon in Asia, with the rest of the top 10 tokens by market capitalization turning lower. Terra’s fallen cryptocurrency surged, likely due to LUNA Classic’s recent network upgrade. See related article: Markets: Bitcoin edges up; U.S. stocks, bonds post worst returns in 5 decades Fast facts […]

Ukraine National Police takes down crypto fraud cybercrime group

The National Police of Ukraine (NPU) said on Tuesday it took down a network of call centers targeting Ukrainian and European Union citizens, who have already been duped by crypto scams. See related article: Ukraine seizes funds from crypto wallet funding Russian forces Fast facts According to NPU’s official announcement, the cybercrime network was disguised […]

Crypto education in local languages; Decentralizing data

Crypto advocates in Asia want to educate people using regional languages to promote cyber-safety awareness.

Fed’s inflation fight batters crypto market as pressure mounts

Top blockchain and crypto news: Is crypto in for a long cold spell? Ava Labs lashes out at CryptoLeaks claims. China eyes blockchain power trading.