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Top blockchain and crypto news: Hong Kong rethinks digital assets. CBDC to debut in India. China’s e-yuan privacy problem.

Bitcoin and Ether dropped in Wednesday afternoon trading in Asia amid losses among all top 10 cryptocurrencies by market capitalization, excluding stablecoins, led by Shiba Inu.

As governments look towards zero carbon emission goals, new means of creating climate-related financial products are being tested on the blockchain.

DBS, the largest bank in Southeast Asia, said it tested trading of foreign exchange and government bonds using permissioned decentralized finance (DeFi) liquidity pools on a public blockchain as part of the city-state’s Project Guardian exploration of blockchain in finance.

The bank is in the center of developments shepherded by the Monetary Authority of Singapore to explore digital financial technologies emerging around blockchain.

The issuer of the world’s second-largest stablecoin is joining a fleet of companies in the digital asset industry moving into Singapore. What’s the attraction?

Bitcoin and Ether were little changed in Wednesday morning trading in Asia along with most of the cryptocurrency top 10 by market capitalization, excluding stablecoins.

Deputy director of monetary and capital markets at the IMF, Dong He, said at Hong Kong Fintech Week on Tuesday that his message to the crypto industry is to embrace regulation.

JPMorgan Chase and Standard Chartered execs were in disagreement at Hong Kong Fintech Week over how significant Bitcoin and the wider crypto industry are.

The country looks to pass an initial bill that focuses on protecting digital asset investors and preventing unfair trade acts, ahead of wider legislation.

Hong Kong will increase funding for startups, including fintech companies, Secretary for Commerce and Economic Development Algernon Yau said on Tuesday.

Many DAOs suffer from voter apathy and are hobbled by too much decentralization. What can help DAOs make better decisions?

India’s central bank, the Reserve Bank of India (RBI), will pilot the country’s first digital rupee in the wholesale segment (e₹-W) from Nov. 1 and has identified nine banks for participation in the trial. 

Singapore-based Alta, a digital marketplace for alternative investments, has acquired private digital securities exchange Hg Exchange (HGX) for an undisclosed amount. 

Hong Kong reveals digital asset policies to distinguish itself from China, where cryptocurrency trading was banned in September last year.

Privacy protection is “top on our agenda,” but combating crime is equally important for the digital yuan, central bank governor Yi Gang said at the Hong Kong Fintech Week.

Bitcoin fell in evening trade in Asia along with almost all other top 10 cryptocurrencies by market capitalization, excluding stablecoins, with the sole gain seen in Polkadot’s uptick.

The Bitcoin white paper, published 14 years ago this day, launched an industry that is now subsidizing clean energy and turning waste into digital gold, writes Will Szamosszegi of Sazmining.

The city is seeking to allow digital asset-based exchange-traded funds (ETFs) to be publicly listed and traded in the city.

A hearing is scheduled in Singapore on a lawsuit filed against Terraform Labs’ Do Kwon on behalf of investors who lost about US$57 million in the collapse of Terra-LUNA.

It is the one-year anniversary of Facebook’s rebrand as Meta, a major step in the company’s foray into virtual reality and Web3. However, in actual reality, not everything has gone to plan for the platform’s new parent company.

Bitcoin dropped nearly 3% in afternoon trading in Asia. All other top 10 cryptocurrencies by market capitalization, excluding stablecoins, declined following a strong two-day rally by most tokens.

Binance has confirmed its participation in Tesla Chief Executive Officer Elon Musk’s Twitter acquisition as an equity investor.

The use of blockchain technology in finance will have an impact similar to that of YouTube on the media industry, said Lee Jun-haeng, CEO of South Korea-based blockchain company Streami.

Busan, S. Korea’s designated blockchain city, plans to make itself a global center for the technology. Binance, the world’s largest crypto exchange, plans to help.

When China banned cryptocurrency trading and mining in September 2021, it was feared that policy would make its way into Hong Kong. Seems that concern is getting a rethink.

When the Grim Reaper comes, will he take all your Bitcoins, too? Here’s how to ensure your crypto wealth will survive and live on for your heirs.

LooksRare is the latest NFT marketplace to make paying creator royalty fees optional as the industry struggles amid an ongoing slump in the NFT market.

The United Kingdom High Court has shut down PGI Global UK Ltd. for allegedly running a crypto scam and has appointed the official receiver as the company’s liquidator. 

The Nasdaq-listed company expects to deplete its cash resources by the end of this year.

Bitcoin extended its rally and rose nearly 2%, with top 10 cryptocurrencies by market capitalization, excluding stablecoins, mostly higher on the day, led by Dogecoin’s 18% gain as Elon Musk’s purchase of Twitter neared completion.

Binance CEO Changpeng Zhao believes education is key to a wider, safer adoption of blockchain technology.

Bankman-Fried says the global crypto industry needs a “passporting” policy framework that lowers barriers for crypto businesses.

The future of the burgeoning Web3 sector will be gaming and non-fungible tokens, said Eric Anziani of global digital asset exchange Crypto.com.

Meta’s metaverse division Reality Labs lost US$3.7 billion in the third quarter of this year, bringing its accumulated losses in 2022 to US$9.4 billion.

A stablecoin that is not stable is an ‘oxymoron,’ said Henry Chang, CEO of South Korea-based blockchain game developer Wemade.

Europe’s new MiCA framework for regulating crypto shows the good that can happen when government works with and not against the industry, writes Nick Saponaro of Divi Labs.

Bitcoin continued its price run higher in Thursday morning trading in Asia as it neared US$21,000. Ether and the rest of the top 10 cryptocurrencies by market capitalization, excluding stablecoins, also rose. The total crypto market cap exceeded US$1 trillion for the first time since mid-September. Leading memecoin Dogecoin was the best performer, while the […]

Cash App users in the U.S. can now buy, send, and receive Bitcoin using the Lightning Network, directly within the app. 

Top blockchain and crypto news: Aptos launch falls short. Why FTX chief is calling for crypto regulations. Is Hong Kong paving way for a retail CBDC?

The pilot successfully executed real-value cross-border transactions involving four currencies and 20 commercial bank participants across four jurisdictions, the HKMA said.

The central bank is also considering options such as banning crypto firms from offering credit facilities, leverage or staking services to retail traders.

The People’s Bank of China (PBOC) has reminded financial technology (fintech) firms to comply with financial laws and regulations, in the central bank’s new set of guidelines released earlier this month.

Bitcoin posted a three-week high in afternoon trading in the Asia time zone. Ether led gains across all top 10 cryptocurrencies by market capitalization, with a 12% surge. Cardano’s ADA and Solana’s token also registered double-digit gains.

Two Chinese intelligence officers allegedly paid a double agent to help steal files related to a federal investigation into a China-based global telecom firm, reported to be Huawei.

Survey reveals popularity of crypto ownership among voters, their hopes for the industry’s growing potential and the need for regulation to protect consumers.

South Korea’s Busan signs agreements global cryptocurrency exchanges Crypto.com and Gate.io to grow the city’s blockchain ecosystem.

Bitcoin was trading above US$20,000 for the first time in almost three weeks on Wednesday morning trading in Asia.

Bitcoin traded flat on Tuesday afternoon in Asia hours, while Ether edged higher in a mixed day for prices among the top 10 cryptocurrencies by market capitalization, excluding stablecoins. XRP led the losers for the second consecutive day. Polygon’s Matic token held onto recent gains and Dogecoin also moved higher.

Family offices and high net worth individuals (HNWI) will drive the adoption of digital assets across Asia, according to a joint report by professional services firm KPMG China and Hong Kong-based crypto asset management platform Aspen Digital. See related article: Hong Kong, BIS explore CBDC-backed stablecoins in retail prototype Fast facts The report, largely based […]

Cryptocurrency was created to be accessible to the masses. So why are retail investors getting shut out from the best analytical and trading tools?

Bitcoin dipped in Tuesday morning trading in Asia, but held above the US$19,000 support line where it has been fluctuating for several weeks.

Rishi Sunak, who previously spearheaded the UK’s crypto hub ambitions as finance minister, has been elected by the Conservative Party on Monday following Liz Truss’ resignation last week. 

Bitcoin mining difficulty has reached a new high after a 3.44% increase in Monday’s biweekly adjustment, according to data from BTC.com.

The BIS Innovation Hub Hong Kong Centre has completed its CBDC study, Project Aurum, which examined the feasibility of intermediated CBDCs and CBDC-backed stablecoins.

Bitcoin rose in Monday evening trading in Asia in a mixed day across the top 10 cryptocurrencies by market capitalization, excluding stablecoins. Ether gained more than 2% and Polygon had a strong run up of more than 6%. XRP fell. Different picture for Hong Kong stocks, where the Hang Seng Index plunged to lows last […]

A lack of regulations means anyone can say bad things about crypto to stir up fear — and push you to sell. Even if they stand to make money from your losses.

iQIYI, one of China’s largest online video platforms with over 100 million subscribers, is tapping Ethereum smart contract standard ERC-3475 to solve copyright-related issues, according to a press release on Sunday from the standard’s inventor, decentralized bond protocol DeBond.

Institutional adoption of Web3 in finance means getting traditional banks involved, which will in turn reshape the way banks work, says SC Ventures’ Alex Manson.

Why has Ripple Labs been in the U.S. SEC’s crosshairs and what’s the difference between Ripple and XRP?

India’s lack of regulatory clarity on crypto and Web 3.0 is a driving force of critical human capital flight, according to a new report by Nasscom.

Bitcoin traded at US$19,045.18 at 4 p.m. in Hong Kong, while Ether fell 0.48% to US$1,286.01, according to data from CoinMarketCap. 

The international police organization Interpol has launched its own metaverse to assist law enforcement in protecting communities in virtual realms. The development comes after wanted Terraform Labs cofounder Do Kwon quietly slipped from Singapore to Dubai and possibly elsewhere. See related article: India police launch blockchain-based complaint portal on Polygon  Fast facts Interpol claims theirs […]

Warner Bros. Entertainment Inc. will launch Lord of The Rings non-fungible tokens (NFTs) on Eluvio, as part of the entertainment giant’s Web 3.0 movie experience coined “Movieverse.”

After Solana’s Magic Eden marketplace said it was bowing to pressure and making payment of royalties “optional” to NFT creators, industry insiders tell Forkast the policy is wrongheaded and damaging.

South Africa’s financial markets regulator has declared crypto assets as a financial product, setting the legal grounds to bring cryptocurrencies under regulatory purview. See related article: Nigeria to become 1st African country to launch a central bank digital currency Fast facts Crypto is not issued by a central bank but can be traded, transferred and […]

JP Morgan Chase has hired former Celsius executive Aaron Lovine as executive director of digital assets regulatory policy, the latest move in the bank’s oscillating regard for the crypto industry.  See related article: JPMorgan Chase executive says crypto usage for payments decreasing   Fast facts A JPMorgan spokesperson confirmed the appointment after Lovine, who headed policy […]

Fidelity Digital Assets will allow clients to trade Ether from Oct. 28, according to a company email shared by Fidelity’s customers via Twitter. See related article: Fidelity considers Bitcoin trading on brokerage platform: WSJ Fast facts Institutional investors will be able to buy, sell and trade ETH, the second-largest cryptocurrency by market cap. “With the […]

In a Q&A with Forkast, First Digital Trust Chief Executive Officer Vincent Chok shared his views on Hong Kong getting back into crypto, regulations, and how the crypto pie in Asia is big enough for rivals Singapore and Hong Kong.

Kwon Do-hyung, the cofounder and chief executive officer (CEO) of Terraform Labs Pte. Ltd., also known as Do Kwon, left Singapore last month and landed in Dubai, United Arab Emirates, South Korean prosecutors confirmed with Forkast.

The crypto sector operates mainly in English, but more than 6 billion people — many of whom crypto would benefit the most — use other languages, writes Wei Zhou of Coins.ph.

Top blockchain and crypto news: Mark Zuckerberg’s empty metaverse. South Korea to roll out blockchain IDs. Macau bets on digital money.