Bitcoin, Ether, rise; most top 10 cryptos fall as SEC lawsuit weighs on investor sentiment
Bitcoin and Ether rose during Monday afternoon trading hours in Hong Kong, while most of the top 10 non-stablecoin cryptocurrencies by market capitalization declined. Risk appetite remained low after the U.S. Securities and Exchange Commission (SEC) sued Binance and Coinbase two weeks ago.
How Dubai and Hong Kong are shifting crypto’s power dynamics: Opinion
As the US grapples with crypto regulation, Hong Kong and Dubai are emerging as leaders in the global digital economy, writes Ben Caselin of MaskEX.
Bitcoin dips after reclaiming US$26,000, Ether falls; XRP gains, Tron leads losers in crypto top 10
Bitcoin dipped on Monday morning in Asia after reclaiming US$26,000 support over the weekend. Ether also fell back but held above US$1,700.
Independent Reserve plans Hong Kong office, explores further Southeast Asia expansions
Independent Reserve may have a new Hong Kong office in the “next few months,” the Singapore chief of the Australian crypto exchange said in an exclusive interview. Focusing on institutional clientele, the exchange aims to double trade volumes and expand its user base this year.
SEC lawsuit sees Binance.US wobble, trading platforms delist cryptos
Top blockchain and crypto news: Binance.US at risk. Ex-SEC official’s comments complicate Ripple suit. Hong Kong lawmaker aims to entice exchanges.
Back to the physical: China metaverse seeks to boost real-world economy
The final story in a three-part series on Asia metaverse developments looks at China’s national strategy, which has seen dozens of cities and provinces release spending plans and training schemes to adopt this digital world in real-world industries. China’s initiatives, however, face challenges from regulation and global competition.
How low can NFTs go?
SEC scrutiny sends NFT market into downturn. Traders liquidate or hold off as Forkast 500 NFT Index hits all-time low amidst crypto turbulence.
Bitcoin rises above US$26,000; all other top 10 cryptos gain as U.S. regulatory battle rumbles on
All top 10 cryptos, including Binance’s BNB, gained on Tuesday afternoon trade in Asia for the first time this week amid ongoing lawsuits with the U.S. SEC.
The SEC has spoken: The future of finance is not in America
The SEC’s one-two punch of Coinbase and Binance couldn’t have come at a better time for Hong Kong and Singapore, as US crypto firms look to shift to friendlier shores, writes Hamilton Keats of Krayon Digital.
Charting the digital continent — East Asia’s real-world race to build the metaverse
South Korea, China, Japan — East Asia’s three industrial powerhouses are taking their economic rivalry to the virtual world. Each is developing a domestic metaverse in a race to become the region’s industry leader. This first account in a three-part series takes a look at what’s happening in South Korea.
Insights from Dubai’s cryptocurrency scene as city looks to be global digital assets hub
Ghassan Jumblat, fintech director at financial services company Integrated Communications Channel discusses the evolution of the cryptocurrency and blockchain industry in Dubai in the United Arab Emirates, as the city positions itself as a future hub for digital assets.
Bitcoin NFTs raise unique legal issues. Here’s what you need to know
Bitcoin Ordinals are also called NFTs, but intellectual property laws may not treat them the same as Ethereum- and Solana-minted NFTs, writes Cameron Pick.
Nanjing city district announces bold metaverse goals as China competition heats up
Jiangning, a district in China’s Nanjing city, released a metaverse plan on Saturday that includes training thousands of professionals for the industry.
Inside The Sandbox: A glimpse into the metaverse with co-founder Sebastien Borget
Sebastien Borget of The Sandbox and Yehudah Petscher of Forkast Labs discuss the promise of the metaverse, the role of NFTs and the potential impact of Apple’s Vision Pro.
The grand experiment in crypto compliance: What will the future look like?
From US crackdowns on Binance and Coinbase to new business-friendlier frameworks in Hong Kong and Europe, seismic shifts in crypto regulations are under way.
Why the US is waging war on Binance, Coinbase
Top blockchain and crypto news: Binance, Coinbase in SEC firing line. Solana NFTs slump as Bitcoin’s surge. New dawn in Hong Kong crypto regulations.
Crypto industry reacts to SEC’s lawsuit against Binance
The SEC sued Binance on Monday, amid mounting regulatory scrutiny of crypto exchanges. Industry experts shared insights on what this could mean for Binance and how it could drive crypto innovation out of the U.S.
Ledger is proving the perils of sacrificing security on the altar of user experience
Ledger’s attempt to simplify self-custody and key recovery triggered a community revolt. Was this inevitable or could Ledger have sidestepped this fiasco?
Why G7’s proposed crypto regulations will be bad for DeFi
FATF’s travel rule is looming over the crypto industry as an existential threat, writes Jack Jia of Unlimit. Here’s why it’s especially worrying to DeFi and self-custody wallet users.
Bitcoin little-changed around US$27,000, Ether treads water; Solana, XRP gain
Bitcoin, Ether traded little changed Monday morning in Asia, along with most other top 10 non-stablecoin cryptocurrencies. However, both Solana and XRP rose.
Hong Kong’s crypto rules offer level playing field, investor protection, says OSL exchange executive
OSL is one of only two digital assets trading platforms in Hong Kong licensed to offer services to professional investors.
What’s next for crypto miners after US debt ceiling deal?
Top blockchain and crypto news: Miners dodge tax bullet. Blur, Binance heat up NFT lending. Chinese cities’ plans reveal nationwide Web3 ambition.
UAE and Hong Kong central banks to collaborate on crypto regulation
The Central Bank of the United Arab Emirates and the Hong Kong Monetary Authority have agreed to strengthen cooperation in regulating virtual assets.
How NFT-financing can reshape the landscape of lending and borrowing
NFT-backed lending and borrowing can unlock liquidity and expand investment opportunities. Here are the best practices — and risks.
AI-themed cryptos rise; NFT lenders duke it out; US debt talks continue
Surge of interest in AI chipmaker Nvidia extends to crypto, Binance and Blur vie for top NFT lender spot, while uncertainty abounds over U.S. debt talks.
In battle to be Asia’s crypto hub, which city will emerge victorious?
Top blockchain and crypto news: Asia’s crypto hub race. Is US debt ceiling fight a boon or a bane for crypto? China’s red carpet for metaverse investment.
DAO communities – we need to talk about decentralization
Just how decentralized are today’s DAOs? When compared to the world’s largest transnational corporations, not so much, says Pat Rawson, co-founder of Web3 innovation network Curve Labs.
China’s Nanjing city launches state-backed metaverse entity
China’s Nanjing City launched a state-backed organization on Monday to promote and enhance metaverse studies throughout the nation.
VeeCon: Rekindling the NFT Community’s Fire
VeeCon 2023 NFT conference inspires and strengthens the market with community focus and innovation. Gary Vaynerchuk’s keynote resonates with fans worldwide.
Hong Kong to open crypto to retail traders, plans guardrails
Hong Kong will allow licensed cryptocurrency trading platforms to offer services to retail investors and will implement a slew of measures to protect individual traders, the Securities and Futures Commission (SFC) said on Tuesday.
Hong Kong? Singapore? Tokyo? Seoul? Dubai? The race is on for the Web3 hub of Asia | Part 1
As U.S. regulators file lawsuits against cryptocurrency platforms, prompting some digital asset companies to seek more favorable jurisdictions, a fleet of cities in Asia are putting out the welcome mat, seeking to attract the jobs and investment that Web3 technologies promise. Right now, Hong Kong seems to be grabbing the limelight, but it has competition.
Is Tether unmoored — or just dandy?
Top blockchain and crypto news: Fighting words over USDT erupt on Twitter. Litecoin surges amid memecoin fever. Chinese city bids for blockchain business.
Hong Kong’s e-HKD pilot puts the world on notice
Rollout of the central bank digital currency in Hong Kong is a potential game-changer and a move that others may soon look to follow.
China’s top prosecuting body issues warnings, guidance about country’s NFT market
China’s top legal authority issued a commentary on Monday about the risks and potential in NFTs, highlighting the need for legislation.
How DeFi can keep out bad apples while upholding crypto’s core ideals
Crypto users need not fear the increasing KYC/AML requirements around the world and loss of privacy, writes Kurt Hemecker of the Mina Foundation. Here’s why.
It’s a fight for the future of money in the US, says Christopher Giancarlo
The U.S. is resisting digitization of the dollar due to it being a threat to the country’s dominance over traditional financial system, said Christopher Giancarlo, former chair of the Commodity Futures Trading Commission (CFTC) and author of “Crypto Dad: Fight for the Future of Money.”
Japan government’s crypto czar touts nation’s Web3 capabilities
Japan was an early believer in blockchain and cryptocurrencies until exchange hacks brought a crackdown. But that was then. Now the government has become a crypto cheerleader.
Bitcoin network buckles under weight of BRC-20’s runaway success
Top blockchain and crypto news: Memecoin fever strains BTC network. Binance slams brakes on Bitcoin withdrawals. Chinese court allows crypto for repaying debt.
Why DAOs and collective collaboration are key for Web3 to realize its potential
Free of the hierarchies and power dynamics in traditional companies, DAOs can allow Web3 organizations to do better, writes Arjun Kalsy of Mantle.
Hong Kong NFT firm Artifact Labs raises US$3.25 mln in seed round
The startup, originally incubated by the South China Morning Post, has closed a financing round led by Blue Pool Capital and Animoca Ventures.
What JPMorgan’s First Republic takeover means for the crypto industry
Top blockchain and crypto news: JPMorgan swoops as another bank falls. NFT market rivalry heats up. Bitget seeks Hong Kong exchange license.
Trading, talent and tech leveling up in NFTs
NFT prices and trading volume are dropping but this could be an indicator of a maturing market.
Securities or not, crypto in the US needs new regulations and clearer guidance
CFTC and SEC disagree over whether cryptocurrencies are securities, and two big lawsuits clouding the industry’s future invoke laws that long predate the digital era.
What the US stands to lose if it keeps heaping scorn on crypto
The current US approach to regulating crypto flies against its history of supporting tech innovation and undermines its own national interest, writes Hamilton Keats of Krayon Digital.
Mythical Games CEO says U.S. regulatory uncertainty accounted for firm’s conservative stance on crypto
The lack of clarity in crypto rules in the U.S. not only affects exchanges but also this U.S.-based blockchain gaming company, John Linden said.
US response to crypto is like ‘deer caught in headlights,’ says ex-CFTC chair
Christopher Giancarlo, the former chair of the CFTC, said the U.S. is resisting cryptocurrency innovation due to its threat to vested interests in the financial system.
NFTs: Bear Market or Burst Bubble?
The culture of collecting unique digital assets may be here to stay, but data suggests that NFT prices may continue to fall.
Until Web3 offers a better user experience, the masses will stay away
People won’t want to bother with a new technology if it’s painful to use, even if they’re aware of the potential benefits, writes Toby Rush of Redeem.
Japan’s Web3 pivot needs global mindset, flexibility to succeed, says incubator founder
Japan’s welcome mat for Web3 is shifting the tone from “buzzword” to opportunity, but success will hinge on the authorities adopting a global, flexible view toward this new technology, says Yudai Suzuki, co-founder of Fracton Ventures.
Crypto leaders need to collaborate with regulators more — for the industry’s own good
A clear and balanced legal framework will encourage more crypto investment, while the industry can promote best practices, writes Mahin Gupta of Liminal.
Bitcoin mining produces energy gold. Let’s use it to help save our planet
Critics have long slammed Bitcoin mining for its enormous carbon footprint. But what if all the heat that miners emit can be sustainably powered and reused?
Bittrex in SEC’s crosshairs as compliance lawsuits keep coming
Top blockchain and crypto news: Bittrex in SEC line of fire. Bored Apes fall after whale sale. Chinese banks court crypto clients.
U.K. could push out crypto regulation within a year: lawmaker Andrew Griffith
The U.K. could see digital asset regulation in the next 12 months as part of a push to turn the nation into a hub for digital assets, said economic secretary to the Treasury, Andrew Griffith
Bitcoin, Ether, other crypto fall as SEC waves big stick; Dogecoin gains; U.S. equity futures flat
Bitcoin, Ether and most other top 10 non-stablecoin cryptocurrencies dipped Tuesday morning in Asia after the SEC sued crypto exchange Bittrex on Monday.
Bank of England says stablecoins need limits on use to prevent financial instability
The Bank of England may set limits on use of stablecoins, citing concern rapid introduction of such digital currencies could lead to financial instability, Deputy Governor Jon Cunliffe said in a speech on Monday.
SEC ‘crypto mom’ Hester Peirce attacks U.S. regulator’s new exchange definition on DeFi
SEC member Hester Peirce has criticized the regulatory agency for its proposal that seeks to expand the definition of an “exchange” to DeFi platforms.
Crypto firms hardpressed to find U.S. bank partners as industry blames ‘Operation Choke Point 2.0’
NYDFS superintendent Harris called the idea of Operation Choke Point 2.0 “ludicrous,” but industry participants largely disagree. Was the shutdown of the three largest crypto-friendly institutions a coordinated effort to unbank crypto?
Ethereum rolls out Shapella upgrade amid worries over price pressures
Top blockchain and crypto news: Ethereum fork prompts price fall fears. Satoshi is found — in Apple software. Hong Kong ramps up Web3 plans.
NFT.NYC is back to deliver the Woodstock of NFTs
The NFT industry is gathering at New York for NFT.NYC, but the overloading frequency of events could be causing “event fatigue.”
Ethereum blockchain upgrade unlocks US$34 billion in Ether, what does it mean for crypto prices?
The upcoming upgrade to the Ethereum blockchain will allow users to withdraw millions of “staked” Ether, the native cryptocurrency, for potential sale. That would typically indicate a flood of selling pressure awaits the token, but not everyone is buying that.
Singapore developing guidelines for banks on crypto clients: Bloomberg
The Monetary Authority of Singapore is reportedly working on guidelines to help local banks vet and provide banking services to cryptocurrency clients
Bitcoin, Ether down with top 10 cryptos, most equities fall ahead of U.S. Jobs Report
Bitcoin and Ether fell during afternoon trading hours in Asia on Thursday, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization.
Swiss PostFinance bank to offer crypto services to 2.5 mln customers
PostFinance, a Swiss government-owned retail bank, has partnered with Sygnum Bank to provide crypto-related services.
The TradFi vs. DeFi rivalry is hitting a new peak — and that’s bad for everyone
Amid the current banking crisis, each side is exhibiting disdain for the other when neither holds the moral high ground, writes Rachel Lin of SynFutures.
Arbitrum’s AIP-1 proposal to be split after community backlash
Top blockchain and crypto news: Arbitrum to segment AIP-1. DeGods NFT collection moves to Ethereum. Crypto on the agenda at ‘China’s Davos.’
HK-based venture fund hopes to raise US$100 mln for crypto investments: Bloomberg
Hong Kong-based asset management firm Plutus VC plans to raise US$100 million by the end of 2023 to fund investments in the cryptocurrency market, according to a Bloomberg report. The fundraising comes as the city moves to regain its status as an international finance and crypto hub.
SEC Chair urges more resources to regulate crypto and technology at House Subcommittee hearing
SEC Chair urges for increased funding to address challenges posed by crypto markets and rapid technological innovation during House Subcommittee testimony.
Bitcoin rebounds above US$28,000, XRP leads gains among top 10 cryptos
Bitcoin rallied above US$28,000 in Wednesday afternoon trade in Asia after losing ground earlier in the week when U.S. regulators filed a lawsuit against Binance, the world’s biggest crypto exchange, for allegedly breaching trading rules.
Bitcoin holds ground amid Binance lawsuit, XRP continues run up, U.S. equities dip
Bitcoin rebounded in Wednesday morning trading in Asia along with all other top 10 non-stablecoin cryptocurrencies. XRP led the winners.
Bitcoin, Ether extend declines amid U.S. lawsuit against Binance; Asian equities mixed
Bitcoin and Ether continued to fall in Tuesday afternoon trade in Asia, along with most other top 10 cryptocurrencies by market capitalization, after regulators in the U.S. pulled up Binance, the world’s biggest crypto exchange, for allegedly violating trading mandates.
What impact will Ethereum’s Shanghai upgrade have on ETH and crypto markets?
Despite the potential sell pressures after Ethereum’s upcoming hard fork, it’s more likely that ETH stakers will hold for the longer term, writes Bill Xing of Bybit.
How DAOs can be remade to be more efficient and successful
DAOs are exploding in popularity but still hampered by weak governance and treasury mismanagement. What can help these novel organizations become more effective?