Crypto adoption may rise as industry self-regulates
Crypto regulations are lagging the market’s needs, and the industry should help create order to gain greater public trust, writes Imgesu Cetin of Defy Trends.
Non-US XRP investors petition for congressional investigation of SEC
Lawyer for 63,000 XRP investors invites non-US investors to demand a congressional investigation of the SEC for impropriety.
India to place 30% tax on crypto income
Indian Finance Minister Nirmala Sitharaman said in her budget speech on Tuesday that a 30% tax will be levied on income from all cryptocurrency or digital assets transfers. Fast facts The levy on cryptocurrency will also apply to non-fungible tokens (NFTs) and gifts, where the recipient will be taxed. In case of losses from crypto […]
Solana wallet Phantom brings valuation to $1.2B after $109M Series B
Phantom announced that it has raised US$109 million in Series B funding led by investment firm Paradigm to raise its valuation to US$1.2 billion, the Solana-based crypto wallet announced on Monday. Fast facts Its app also launched for iOS devices on Monday after its browser extension wallet on Solana gained nearly 2 million monthly users […]
Meta sells stablecoin Diem project for $182M
Meta (formerly Facebook)-backed stablecoin project Diem’s intellectual property and assets have been sold to cryptocurrency bank Silvergate Capital Corporation for US$182 million, both entities confirmed on Monday. Fast facts “[W]e identified a need for a U.S. dollar-backed stablecoin that is regulated and highly scalable to further enable them to move money without barriers,” said Silvergate […]
FTX reaches US$32B valuation after closing $400M series C
The owner and operator of cryptocurrency exchange FTX.COM announced Monday it closed US$400 million in a Series C fundraise that now values the company at US$32 billion. Fast facts Investors participating in this round included Temasek, SoftBank Vision Fund 2 and Tiger Global, among others. The company said all of the investors have participated in […]
Warner Music partners with The Sandbox; Crypto Lunar New Year gifts
Warner Music partners with The Sandbox for metaverse, meanwhile crypto still a niche gift for lunar new year
When the going gets tough, the tough get their wallets out
The recent crypto price plunge has done little to rattle new investors. Are they just buying the dip, or is there more to it? Q9 Capital’s James Quinn explains.
Are crypto e-red packets a thing for the Lunar New Year?
Digital payments are commonplace in Asia, but gifting crypto as lucky money remains niche.
Apple to turn iPhones into payment terminals
Apple is planning a new service that will allow small businesses to accept credit card payments directly on their iPhone without additional hardware, according to a report by Bloomberg. Fast facts Apple’s move has stoked speculation that the company may be paving the way for its devices to also allow crypto payments in the future. […]
SEC scrutinizing crypto lending by Celsius, Gemini, Voyager: reports
The U.S. Securities and Exchange Commission is scrutinizing the cryptocurrency companies Celsius Network, Gemini Trust and Voyager Digital about their practice of paying interest on crypto token deposits, Bloomberg.com reported on Thursday. Fast facts The SEC has begun an enforcement review focused on whether these tokens are unregistered securities, the report states, citing unnamed sources […]
Russian ministry against crypto ban; Korea plans metaverse protection
Russian Ministry of Finance against the latest crypto ban, meanwhile in Korea, there are plans to protect metaverse users.
Why governments have powerful incentives to develop digital currencies
CBDCs can increase financial inclusion and prevent crime, according to blockchain expert Tiana Laurence. What’s not to like about state-backed digital money?
Regulatory uncertainty has not slowed down India’s crypto sector
With new products and services being launched and international exchanges setting up camp, crypto startups thrive despite the shadow of a crypto ban.
Russia’s finance ministry calls for crypto regulation, not ban
The Russian finance ministry called for the regulation of cryptocurrencies on Tuesday, opposing the central bank’s proposal last week to ban crypto mining and usage. Fast facts Ivan Chebeskov, director of the finance ministry’s financial policy department, told Russian outlet RBC that a ban on crypto transactions and mining could hamper the country’s growth in […]
Crypto market briefly up, then falls as US Fed leaves interest rates unchanged
The global cryptocurrency market rose along with smaller gains in the broader equity and bond markets in the aftermath of a Federal Reserve Open Market Committee statement Wednesday afternoon that it would leave interest rates untouched at near zero but expects to raise them soon. As the market digested the latest report, prices began trending […]
Cybercriminals launder $8.6B in 2021, up 30%: Chainalysis
The amount of cryptocurrency used in money laundering activities increased 30% in 2021 compared to the year before, but represents a smaller portion of total transactions, according to an annual crypto money laundering report by Chainalysis, a blockchain data analytics firm. Fast facts Cybercriminals laundered US$8.6 billion worth of cryptocurrency last year, with the total […]
Thailand plans crypto regulation; Market concerns over Ukraine
Crypto market concerns over invasion on Ukraine;, while Thailand plans for crypto regulation.
Crypto market suffers mauling as bears go berserk
Top blockchain and crypto news: Market chills make investors shiver. Hacking storm at OpenSea. Has Beijing tamed NFTs?
Building a blockchain ecosystem today for the metaverse of tomorrow
The metaverse could be life-changing for the world’s unbanked, writes Pavel Matveev of Wirex. Interoperability between the real and virtual worlds will be key.
How to avoid regulatory pitfalls in an increasingly ‘cryptoized’ world
Crypto regulations run the gamut from wait-and-see to total prohibition. What are the dos and don’ts of smart regulation?
Survey: India wants crypto regulation clarity from Parliament
A survey of more than 1,000 digital respondents found 79% of Indians want more clarity on cryptocurrency and non-fungible token (NFT) regulations in the budget session of Parliament starting on Jan. 31, according to new survey findings. Fast facts The survey, conducted by tax and advisory firm Grant Thornton Bharat, also found that 61% of […]
Korea to survey crypto assets; China hunts for CBDC talent
Korea will include virtual assets in its financial survey, while China’s central bank hunts for CBDC talents.
Where does Singapore’s crypto policy go from here?
Despite Singapore’s reputation as a crypto-friendly hub, the truth is more complicated. Is the city-state purposely keeping out small companies?
Crypto market tumbles amid uncertainty over Russia and Ukraine
Bitcoin and Ethereum fall below psychologically important levels as rising uncertainty clouds markets. Is the Fed also depressing crypto’s prospects?
Bitcoin price slumps as mining hashrate and difficulty reach ATHs
The Bitcoin mining difficulty level rose to an all-time high in its latest adjustment on Friday while the total Bitcoin hashrate also reached an all-time-high during a global cryptocurrency sell-off. Fast facts The mining difficulty level rose by 9.32% to 26.64 trillion at block height 719.712, reflecting its most difficult level in history, according to […]
S.Korea adds crypto to annual finance survey as household asset
South Korea’s statistics bureau announced on Sunday that it will include virtual assets in its annual household finances report, which can set the stage for incoming crypto tax rules next year. Fast facts Statistics Korea (KOSTAT) will sample 20,000 households on their crypto holdings valued on March 31, but the survey results will not be […]
Korea plans metaverse leadership; Russian bank proposes crypto ban
South Korea envisons itself becoming a top metaverse leader, while Russia’s central bank proposes crypto ban.
Why Asia is poised to be the next big market for an NFT boom
Global NFT sales are exploding in 2022, but experts predict this is only the beginning of a bigger surge in Asia.
Crypto investors are being wooed in South Korea’s tight presidential election
The top contenders jockey for position on initial coin offerings and other blockchain-based innovations. How did crypto become a critical factor in the race?
Facebook, Instagram explore NFT integration, marketplace: report
Meta’s Facebook and Instagram are exploring plans that would allow non-fungible tokens (NFTs) to be used as profile pictures, according to a report. Fast facts The plans include the showcasing, minting and selling of NFTs, several insiders told Financial Times. Meta staff members are also reportedly discussing the launch of a marketplace to buy and […]
Bitcoin price falls below $40K for second time in two weeks
The price of Bitcoin dropped below US$40,000 on Friday for the second time in two weeks, in the face of headwinds from the Russian central bank’s call to ban crypto trading. Fast facts Bitcoin lost up to 11% on Friday morning Asia time and was trading at US$38,599 at press time, according to CoinMarketCap. The […]
Straight shot: How sports stars are sidestepping middlemen in Web 3.0
A pro basketball player and an ex-banker are aiming for a slam-dunk with a ‘creator first’ content platform. Calaxy co-founder Solo Ceesay explains how.
Crypto.com discloses details of US$34M hack
The fast-growing crypto exchange Crypto.com discloses large amounts of Bitcoin and Ether were stolen from 483 customers.
Russia central bank calls for ban on crypto
Russia needs new laws for a comprehensive ban on crypto and crypto-related activities within its borders, the Bank of Russia stated in a report published Thursday. Fast facts The recommendation is the latest in a global cryptocurrency crackdown from China and other Asian nations to the United States, as governments fear instability and loss of […]
Hyundai Card VP says crypto passing tulip stage; Asia’s NFT shift
South Korean company Hyundai Card’s VP says crypto passing through the “tulip stage”, meanwhile NFT is shifting towards Asia.
How is crypto different from regular money?
With all the buzz surrounding cryptocurrency, one has to wonder how it is different from traditional money. Watch this short Forkast video explainer to learn about the evolution of money and what makes cryptocurrency like Bitcoin unique. What you’ll learn: How did the financial crisis of 2008 give birth to cryptocurrency? Why is decentralization viewed […]
Google hires former PayPal exec in crypto push
Google has hired former PayPal executive Arnold Goldberg to run its payments division as the company eyes offering a broader range of financial services including cryptocurrencies. Fast facts “Crypto is something we pay a lot of attention to,” Google’s president of commerce Bill Ready told Bloomberg. PayPal has already incorporated cryptocurrency into its business, recently […]
e-CNY transactions surge; Fusang IPO green light
e-CNY transactions surge in China, meanwhile Fusang IPO ‘s get a green light
Crypto clampdowns mount in Asia as authorities ponder bans
Top blockchain and crypto news: Asian governments target crypto. Managing MATIC. China’s expanding metaverse.
Pakistani bank to customers: halt crypto transactions
One of the largest private banks in Pakistan has asked customers to avoid conducting cryptocurrency transactions through its banking channels, according to multiple media reports. Fast facts Bank Alfalah reportedly has sent SMS alerts to users informing them that cryptocurrencies are not legal tender and no entity is authorized to provide related services in the […]
Singapore crypto ATMs shut down to comply with central bank rules
Cryptocurrency ATM operators in Singapore halted operations on Tuesday to comply with new guidelines issued by the Monetary Authority of Singapore (MAS), the country’s central bank, Bloomberg reported. Fast facts Crypto ATM operators Daenerys & Co. and Deodi Pte shut their operations down as they await further clarification from MAS. New central bank guidelines issued […]
Two S. Korean presidential candidates want to bring back ICOs
Presidential candidates from South Korea’s democratic and conservative parties have said on Wednesday that initial coin offerings (ICO) should make a comeback in the nation, as crypto continues to be a key theme in the March elections. Fast facts ICOs have been banned by financial regulator in South Korea since 2017 in a booming cryptocurrency […]
Crypto-related crimes in China still high despite ban on transactions
The total number of legal judgments involving crypto-related crime in China slightly dipped in 2021 to 5,137 cases, as the nationwide clampdown continues, according to a research report. Fast facts China’s legal system published 5,170 judgments in 2020, a significant leap from 3,474 in 2019, Chinese blockchain data tracker Zhongke Lianan found in its report. […]
Fusang receives green light for US$10M equity-token IPO
Malaysian exchange will offer equity tokens representing direct shares on the blockchain, claiming it will be the world’s first fully regulated equity-token IPO.
Binance partners with Gulf Energy; Polygon’s upgrade live
Binance partners with Gulf Energy for Thai crypto exchange, meanwhile, Polygon’s upgrade live
India PM calls for global ‘common thinking’ on crypto regulation
India Prime Minister Narendra Modi called for collective and synchronized global action to tackle the challenges posed by cryptocurrency. Fast facts Speaking at the 2022 World Economic Forum’s annual Davos conference on Monday, Modi said: “The kind of technology cryptocurrency is associated with makes decisions taken by one country inadequate to meet the challenges posed […]
S. Korean broadcaster KBS opens metaverse studio for 2022 election
South Korean public broadcaster KBS launched a recreation of its Seoul studio compound on Naver’s Zepeto metaverse on Tuesday, to promote coverage of the upcoming March 9 presidential election. Fast facts Visitors can enter and experience the digital replica of the broadcaster’s news studio, stage sets, take quizzes about the election, stroll around the history […]
Burnt Finance bags $8M funding led by Animoca Brands
Solana-based non-fungible token (NFT) marketplace Burnt Finance, best known for burning then tokenizing street artist Banksy’s artwork, announced on Tuesday an $8 million Series A funding round led by Animoca Brands. Fast facts Other investors in this round include Alameda Research, Multicoin Capital, Valor Capital, Figment, Spartan Capital, HashKey, Terra and Fantom. Burnt Finance got […]
Crypto.com inks AU$27M deal with the Australian Football League
Singapore-based exchange Crypto.com has struck a five-year AU$27 million (US$19.5) sponsorship with the Australian Football League’s (AFL) men’s and women’s (AFLW) competitions on Tuesday. Fast facts The deal is the first sponsorship from a crypto firm in Australia for a major sporting league, and the first major women’s sporting league sponsorship for Crypto.com. Australian rules football […]
BTFD is more than a meme — it’s a revolution
Savvy cryptocurrency investors now know what the biggest players have long done, writes Michal Cymbalisty of Domination Finance — ‘buying the f* dip!’
Australian Open enters metaverse; Chinese university goes virtual
Australian Opens just opened in the metaverse and a Chinese university launches a virtual campus.
Singapore central bank warns against crypto marketing, promotion
The Monetary Authority of Singapore (MAS), the country’s central bank, issued guidelines to restrict cryptocurrency service providers from marketing or promoting their services to the general public on Monday. Fast facts MAS warned businesses to refrain from promoting cryptocurrencies and related services to Singaporeans in public areas, including websites and social media. However, firms are […]
As Binance shrinks away in Asia, will it put down roots in the Middle East?
Binance’s CEO is now the richest Asian man, but the crypto exchange giant’s presence in Asia—where Binance got its start—is withering under regulatory heat.
Pakistan agency wants to block crypto portals, report says
Pakistan’s top investigation agency is looking to block crypto websites over fraud and money laundering concerns, according to a news report, less than a week after the country’s central bank recommended an outright ban on cryptocurrencies. Fast facts Federal Investigation Agency (FIA) Director-General Dr. Sanaullah Abbasi said on Saturday the agency would approach the Pakistan […]
Cardano ADA beats Bitcoin as Ethereum alternative: Twitter poll
Cardano’s ADA edged out Bitcoin as the currency of choice in a Twitter poll posted by Ethereum creator Vitalik Buterin on a hypothetical future without ETH. Fast facts Buterin asked his 3.1 million followers on Friday what currency, aside from Ethereum, they would prefer to be used in 80% of all global transactions by 2035, […]
Palau plans to issue stablecoin; China rolling out NFT infrastructure
China’s Blockchain Services Network rolling out NFT infrastructure, while Palau plans to issue stablecoin.
Up to code: Bringing digital assets into the regulatory architecture
If 2021 was a breakout year for crypto, this year may mark a similar advance for regulation of the industry, says Caroline Malcolm, Chainalysis’ new policy chief.
China to launch own NFT infrastructure by end Jan, BSN confirms
A Chinese state-backed blockchain network plans to launch non-fungible token (NFT) infrastructure that has no link to cryptocurrency by the end of this month, one of its creators told Forkast. Fast facts He Yifan, CEO of Red Date Technology, a developer of the Blockchain-based Service Network (BSN), a project to spur mass adoption of blockchain […]
North Korea hacked US$400M of crypto in 2021, says Chainalysis
State-backed hackers from North Korea stole cryptocurrencies worth about US$395 million last year across at least seven cyber attacks, according to Chainalysis, a blockchain data company. Fast facts Several of the attacks were likely led by Lazarus, a group of hackers believed to be backed by North Korea’s primary intelligence agency, the Reconnaissance General Bureau, […]
Crypto ‘finfluencers’ are attracting a new following — of regulators
Online influencers may be improving crypto-financial literacy for millions of people. But regulators have growing concerns.
Korean prosecutors demand life; HK plans new crypto regulation
Korean prosecutors demand life, as HK plans new crypto regulation.
Pakistan’s central bank recommends ban on crypto, reports say
Pakistan’s central bank has recommended that all cryptocurrencies should be officially banned in the country, according to multiple local media reports, in response to an ongoing lawsuit before a provincial high court. Fast facts In a report submitted on Wednesday to the Sindh High Court, which is hearing a case on cryptocurrencies, the central bank […]
Hackers demand 0.042 Bitcoin from Chinese supermarket
A computer database at a supermarket in eastern China is being held hostage by cybercriminals demanding 0.042 Bitcoin, which amounts to US$1,832, according to a Chinese media report. Fast facts
S. Korean prosecutors seek life sentence for crypto execs in fraud case
Prosecutors in South Korea are demanding life sentences for seven former executives of a now-defunct cryptocurrency exchange who were charged with defrauding investors of just under US$1.9 billion. The executives are not yet convicted, and the trial judge will deliver a verdict on Feb. 11. Fast facts The executives of V Global allegedly took about […]
Kim Kardashian sued for alleged crypto pump-and-dump
An investor is suing Kim Kardashian; boxer Floyd Mayweather, Jr.; Hall of Fame basketball player Paul Pierce, and the cofounders of Ethereum Max for allegedly colluding to promote the cryptocurrency last spring in a pump-and-dump scheme, according to papers filed on Jan 7. Fast facts The investor, Ryan Huegerich, brought the federal suit in the […]
Indian crypto scam investigated; Kakao’s webtoon NFTs sell out
Indian crypto scam investigated meanwhile Korea’s Kakao’s webtoon NFTs sell out
Kazakhstan crypto mining fortunes falter as regime unplugs internet
Top blockchain and crypto news: Bandwidth bust in Kazakhstan. Binance chief CZ tops rich list. Digital yuan app adoption grows.
Indian government may double tax on crypto, report says
The Indian government is mulling the taxation of cryptocurrencies as business income, in a decision which could double the tax burden on investors, according to a local report. Fast facts Currently, crypto earnings are taxed as capital gains, which stand at 20%, while business income rates reach as high as 42%. Taxing each crypto transaction […]
Indian authorities seize assets in alleged $162M crypto scam
The Enforcement Directorate in India seized assets of a businessman worth around US$4.9 million in a money laundering case involving a crypto scam, according to a press release on Monday. Fast facts Nishad K and his associates allegedly perpetrated a crypto scam in which some 900 investors were cheated out of approximately US$162.4 million. The […]
Arming up for a better fight against crypto-related crime
The current technologies in use do little to deter crypto money laundering, writes Dr. Mark van Staalduinen. What can nations do about this?
Jay Chou dethrones Bored Ape Yacht Club; Bitcoin dips below US$40k
Taiwanese’s superstar Jay Chou’s NFT dethrones Bored Ape Yacht Club. Meanwhile Bitcoin dips below US$40k mark.