Search results: service

As international regulators seek to implement oversight, crypto industry players say it is a positive sign that regulators are now considering including stablecoins in banking regulations.

According to a Shenzhen state-owned newspaper, Shenzhen now has nearly 120,000 e-CNY pilot program application scenarios, ranking first in the country. Fast facts In October last year, Hong Kong’s neighboring city, Shenzhen, became the first e-CNY pilot city, which rolled out the first batch of 50,000 e-CNY red packets with a total value of 10 […]

A South Korean tech company is partnering with the largest organization of professional journalists in the country to develop digital tools and techniques to tackle problems in the journalism industry. Fast facts Media technology developer PUBLISH recently announced signing a memorandum of understanding (MOU) with the Journalists Association of Korea (JAK), which represents over 11,000 […]

Decentralized finance may look like it’s consuming TradFi, writes Will Hamilton of TCM Capital. But here’s why one won’t survive without the other.

China’s Blockchain-based Service Network (BSN) — a public-private nationwide infrastructure project to spur mass adoption of blockchain technology — is setting up more portals overseas, as it moves a step closer to more international exposure. Fast facts Red Date Technology, the company China tapped to manage its BSN, announced today that it is working to […]

The companies have a longstanding working relationship on virtual currency investigations with government agencies.

As blockchain nodes multiply around the world, the need for interconnectivity has never been greater. John DeVadoss of InterWork Alliance explains why.

Singers and musicians are embracing non-fungible tokens, but will their non-crypto active fans buy it?

As South Korea’s ongoing efforts at regulating cryptocurrency continues, a top financial services official said DeFi (decentralized finance) businesses need legal review before they are officially recognized as providers of financial services such as loan-for-consumption. Fast facts At the National Assembly’s annual review, lawmaker Oh Gi-hyoung, member of the National Policy Committee, asked Jeong Eun-bo, Korea’s Financial […]

Binance — the largest cryptocurrency exchange in the world — is looking at setting up regional headquarters in Ireland, according to Reuters. Fast facts “Historically, we claim that we don’t have headquarters. We are actually just in the process of establishing a few headquarters in different parts of the world,” Binance CEO Changpeng Zhao told […]

  Jerome Powell’s remarks on Sept. 30 following his testimony about the financial hardships of the pandemic caught the attention of crypto enthusiasts. Taking questions from the House Committee on Financial Services, Chairman Powell said the Federal Reserve would not seek a ban on crypto but reiterated that stablecoins should be regulated.  Bitcoin jumped by […]

Coinswitch Kuber becomes unicorn meanwhile Australians reminded over crypto tax

Notabene, a travel rule solution provider, this week announced that it has successfully completed travel rule test transactions between four Abu Dhabi Global Market (ADGM)-licensed firms and three crypto companies in Singapore. Fast facts In July, the Financial Action Task Force (FATF) — the global anti-money laundering (AML) and counter-financing of terrorism (CTF) standards-setter — […]

Singapore’s United Overseas Bank (UOB) and digital securities exchange ADDX today announced the digitization of a S$50 million (US$37 million) sustainability-linked bond using blockchain and smart contract technology. Fast facts The bond allocation was part of a S$675 million (US$496 million) sustainability-linked bond issued on Sept. 29 by Singapore-based energy provider Sembcorp Industries, through its […]

The importance of digital privacy, freedom of expression and civil liberties and how Web 3 can protect them.

Top blockchain and crypto news: US leads charge in ramping up cybersecurity. Crypto fans crow as Facebook flops. China bears down on metaverses.

Blockchain payments company Ripple has partnered with Qatar National Bank (QNB) to improve cross-border payments and launch a new remittance platform, Ripple announced on Tuesday. Fast facts QNB will pilot RippleNet, a network of banks and other payment companies developed using Ripple’s technology, with QNB Finansbank in Turkey as part of a group rollout, the […]

Brazil’s legislators are expected to discuss in the next few days a bill that seeks to establish a regulatory framework for cryptocurrencies, which may be a major step toward making Bitcoin a legal “payment currency” in the country if approved by the congress. Fast facts Bill 2.303/15, proposed by Federal Deputy Aureo Ribeiro, aims to […]

A lawmaker claims Upbit earned hundreds of millions by listing sketchy cryptocurrencies, while the exchange rebuts that it follows fair and strict standards.

The Bank for International Settlements (BIS) Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) today published a joint report proposing that international standards for payment, clearing and settlement systems should be applied to “systemically important stablecoin arrangements.” Fast facts The BIS, CPMI and IOSCO report comes amid the […]

The U.S. Securities and Exchange Commission has no plans to ban cryptocurrencies, chair Gary Gensler said during a congressional hearing on Tuesday. He added that any decision to ban crypto is “up to Congress.” Fast facts Gensler responded to Rep. Ted Budd’s question about whether the U.S. plans to ban crypto along the lines of […]

What does it mean to provide ‘institutional’ crypto services, and what role does blockchain technology play? Robert Cooper of Digivault explains.

Korea crypto tax pause called for meanwhile Tiktok jumps into NFTs

Crypto investors say virtual asset gains will be taxed on uneven grounds compared to stock capital gains.

As China intensifies its crypto crackdown, regulatory clarity is a beacon for safer shores in Southeast Asia.

Hong Kong, a hotbed for crypto startups and exchanges, is at a crossroads, writes Jeremy Ng of Gemini. Here’s how the industry can better secure its future.

Much of the growth in the region is driven by strong grassroots adoption rates led by Vietnam, India and Pakistan, new data from Chainalysis shows

Bitcoin investment products saw inflows of US$69 million last week amid improving investor sentiment, according to digital assets fund manager CoinShares. Fast facts “We believe this decisive turnaround in sentiment is due to growing confidence in the asset class amongst investors and more accommodative statements from the U.S. Securities [and] Exchange Commission and the Federal […]

China’s telecom giants to bring digital yuan transactions to mobile chatting boxes.

In a special Q&A, a Canadian law advisor who works with Chinese clients breaks down the ban’s potential legal boundaries and concerns held by overseas Chinese.

Chinese communications giant China Mobile and Industrial and Commercial Bank of China jointly released an e-CNY wallet based on the upgraded SMS service Message over 5G. The wallet allows users to transfer money, check balances, pay bills, and perform other functions through the chat window. Fast facts Message over 5G is an upgraded text message […]

The country sees a rise in the amount of illegal currency transactions across the border while the use of virtual assets makes it almost impossible to track down.

Stablecoins combine the portability of crypto with the price stability of fiat currencies. But are they all that stable?

Technical woes continue to beset decentralized finance (DeFi) protocol Compound this week as a hack resulted in 202,472 COMP, or US$68 million at the time, being transferred from its reservoir to its Comptroller where the funds remain vulnerable to being drained by subsequent transactions. Fast facts Yearn.Finance developer Banteg tweeted about the hack late Sunday […]

Mainland China’s recent clampdowns on crypto are reverberating beyond its borders. In a special Q&A, former regulator and crypto industry leader Angelina Kwan discusses what this means for Hong Kong.

The Monetary Authority of Singapore (MAS) today granted licenses to DBS Vickers (DBSV), the brokerage arm of DBS Bank, and Independent Reserve, an Australian cryptocurrency exchange, to provide digital payment token services under the Payment Services Act (PS Act). Fast facts Formal approval from MAS, which follows its earlier “in-principal approval” granted to both companies […]

Markets on Tuesday in the U.S. were unsettled by the prospect that energy crises in Europe and China could lift inflation to new highs, compelling central banks to reverse accommodations sooner than expected. US Treasuries reacted with a fierce rise in yields and that spilled over to the equity markets.  Although the markets drove down […]

The Hainan International Art Exchange Center on Wednesday launched an NFT art-trading platform that supports e-CNY payments, according to China News’ report. According to the staff of the center, the blockchain platform provides services for the purchase and sale of art between art institutions. Institutional traders will be able to tokenize physical artworks as NFTs […]

DeFi benefits from China ban while Gamevil increases Coinone stake

Chinese social media has been abuzz since authorities lowered the boom on crypto. Forkast.News has been following the chatter. Here’s what they’re saying on Weibo, the Chinese equivalent of Twitter.

Decentralized wallet imToken is restricting access to some of the services it offers for users in China, in the wake of the latest ban imposed by top Chinese authorities last Friday. Fast facts The company has restricted users in China from accessing and using third-party financial applications, including those from decentralized crypto exchanges, stake mining […]

DeFi tokens like dYdX soared after China’s latest move to throttle crypto. Is this a short-term spurt or decentralized finance shifting into high gear?

As Chinese authorities take aim at crypto violations outside mainland borders, Forkast.News asks lawyers in the know: Who is in China’s line of fire?

Against the global tide of digital asset adoption, China’s harshest crypto ban yet heralds golden opportunities, writes Richard Byworth of EQONEX. Other governments should take note.

China crackdown legal concerns as Korea also discusses virtual asset law

Top blockchain and cryptocurrency news: Beijing’s crypto crusade comes to a head. Chinese mining caves in. Mr. Goxx reaps robust returns.

China’s stepped-up cryptocurrency ban continues to send shockwaves through the industry, as more crypto service providers are shutting their doors to users in China. BeePool and Tiger Brokers are among the latest to announce service suspensions. Fast facts China-based BeePool, the fourth-largest Ethereum mining pool in hashrate, said Tuesday that it has stopped registering new […]

China fallout hits mining meanwhile Korea digital custody competition heats up

China’s Blockchain-based Service Network (BSN) — a public-private nationwide infrastructure project to spur mass adoption of blockchain technology — is moving a step closer to more international exposure, as the company behind it is working to register a foundation based in Singapore. Fast facts Red Date Technology, the company China tapped to manage its BSN, […]

China’s crypto ban is part of a global battle over freedom and ideology, writes Michael B. Greenwald. How can the US lead the world in a different path?

China’s earlier efforts to eradicate mining may not have been as effective as the government had hoped, but Friday’s announcement is having an impact.

At the Cardano Summit over the weekend, IOHK founder Charles Hoskinson revealed a slew of partnerships and other developments for the Cardano blockchain

Amid growing regulatory heat, Binance — the world’s largest cryptocurrency exchange by trading volume — will restrict users in Singapore from buying cryptocurrencies using fiat, spot trading and liquid swaps on its main Binance.com platform starting Oct. 26, according to a company announcement. Fast facts Binance is advising Binance.com users in Singapore to cease all […]

South Korea’s virtual asset industry is expected to withstand major regulatory reconstruction

China’s crypto crackdown and what it means

Amid China’s new clampdown, why is DeFi surging and the RMB-to-crypto market important? Sam Bankman-Fried analyzes what it all means and why FTX is leaving Hong Kong for a new home.

Huobi’s diversified businesses outside of China reached nearly 70% in terms of trading volumes, and have been on the rise, its co-founder tells Forkast.News.

China’s intensified crackdown on cryptocurrency leaves service providers looking to stay compliant with Friday’s abrupt announcement.

India’s crypto industry will grow over 200% to reach $241M by 2030, a new study says.

How is China’s latest clampdown on crypto different from its previous bans — and how do authorities plan to catch the scofflaws? Henri Arslanian of PwC breaks it down.

China’s hardline stance against crypto is already rippling beyond its borders. A mainland crypto insider explains the global shakeup yet to come.

A profound shift is underway in online culture, writes Anndy Lian of BigOne Exchange. Here’s how decentralized finance might one day power the NFT and metaverse economy.

GIGXPAD, a decentralized finance (DeFi) project based in Africa, is partnering with public blockchain network Conflux to tokenize real-world assets, according to a company statement shared with Forkast.News. Fast facts The collaboration, which marks the Chinese blockchain Conflux’s first use case in Africa, will see GIGXPAD deploying a decentralized crowdfunding platform on Conflux. According to […]

Around 35 virtual asset exchanges will vanish as of midnight Friday, as the country imposes new rules designed to protect consumers.

Bitcoin and Ethereum prices fall after Beijing intensifies crackdown on crypto trading, mining.

D-day for Korean crypto exchanges meanwhile e-CNY project speeds up

While a US digital dollar is stuck at pole position, China’s digital yuan is nearing the finish line. Michael B. Greenwald of Tiedemann Advisors explains why it matters to the future global economy.  

Until recently, most Southeast Asians had no internet. Now the region is abloom with blockchain innovation. How did they do it?

Survey shows growing consensus on adoption, investment and use cases. ‘Blockchain is here to stay.’

Amber Group, a Hong Kong-based crypto financial services company, is eyeing a direct listing in the U.S. within the next two years, Amber Group co-founder and CEO Michael Wu told the South China Morning Post in an interview. Fast facts Founded in 2017, Amber Group propelled to unicorn status this year following its US$100 million Series […]

The country’s crypto industry has been turned upside down with stricter operating rules that take effect tomorrow.

VC names jump in on NFTs meanwhile crypto investors brush off Evergrande