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.
Kazakh crypto miners remain hopeful, assess satellite option amid unrest
Internet blackouts are partially restored but access remains unpredictable to support full crypto mining, industry players say.
Is Bitcoin’s rocky start to 2022 a sign of things to come?
The 2022 crypto market has had a tough start as Bitcoin and Ethereum dipped below significant price points. But crypto experts say it’s not all doom and gloom.
Binance CEO Changpeng Zhao is the richest Asian, Bloomberg data shows
Binance CEO Changpeng Zhao is now the richest Asian person with an estimated net worth of US$96 billion, even without counting his crypto fortune, according to the Bloomberg Billionaires Index. Fast facts The daily index ranks the world’s 500 richest people, a list on which the 44-year-old Canadian founder would place 11th, according to the […]
Aussie tennis star rides NFT wave as Australian Open looms
Australian cryptocurrency exchange BTC Markets has partnered with the country’s No. 2 tennis star Ajla Tomljanovic ahead of the Australian Open to release limited edition non-fungible tokens (NFTs). Fast facts The NFTs will be in the form of Proof of Attendance Protocol, akin to a digital concert ticket stub proving attendance, that will allow owners […]
e-CNY app downloaded 16 million times; Kazakhstan outages hit miners
China’s e-CNY app downloaded 16 million times meanwhile in Kazakhstan the outages hit miners
Is the CFTC expanding its powers over crypto without authorization from Congress?
The CFTC is asserting greater regulatory powers over the crypto industry than ever before. But does the agency have the statutory backing to do so?
Kazakhstan internet restoration still not enough for crypto miners, NetBlocks says
Limited restoration of internet access in Kazakhstan is not enough to bring the world’s second-largest crypto mining hub back fully online, according to internet tracker NetBlocks. Fast facts Last week, internet access in the central Asian nation was shut off after protests over fuel prices spread across the country, resulting in more than 100 deaths […]
PayPal confirms exploring USD-backed stablecoin for payments
Payments giant PayPal confirmed it is exploring its own stablecoin after evidence of such a project was found in its iPhone app’s code. Fast facts “We are exploring a stablecoin; if and when we seek to move forward we will of course, work closely with relevant regulators,” PayPal’s Senior Vice President of Crypto and Digital […]
Hyundai plans Meta-Factory; Crypto divergence ahead
Hyundai plans to open a “Meta-Factory”, meanwhile crypto divergence ahead for the year 2022.
Blood, sweat and tiers: Why layer 2 remains the bedrock of Bitcoin development
How has layer-2 innovation saved Bitcoin from becoming a victim of its own success? Blockstream chief Adam Back explains.
Race to be crypto hotspot heats up in Miami, New York
What’s behind the crypto cheerleading by U.S. mayors? Are their city coins savvy moves — or will the bespoke crypto end up worthless?
Bitcoin’s biggest test may come at next TradFi sell-off
Traditional equities and global markets are due for a correction. Valkyrie CEO Leah Wald wonders whether Bitcoin would hold strong in a global sell-off.
Kazakh riots hit miners; Fed hits crypto market
Kazakh riots hit miners, meanwhile Fed hits crypto market
Kazakh riots hit crypto miners amid internet blackout
Bitcoin hashrates tumble as miners unprepared for an outage, experts say.
Besides crypto, what other digital assets can you invest in?
Have you already made your first Bitcoin trade? Perhaps you already have and would like to know more about other digital assets. This Forkast.News video explainer explores what investors can hold in their portfolios as alternatives to cryptocurrency. What you’ll learn: What digital assets can you invest in other than Bitcoin and altcoins? What are […]
Flash crash hits crypto market, but prices steady throughout Asia trading day
Bearish concerns over Federal Reserve rate hikes show a continued correlation with traditional markets, but industry watchers see changing dynamics at play.
LG to follow Samsung adding NFT features to flagship TVs
The ability to display, buy and even mint NFTs is seeping into mainstream products from South Korea’s largest corporations.
Tax authorities recover US$9M from India’s biggest crypto exchanges
Some of India’s largest crypto exchanges, including WazirX, blame ambiguity in the regulation of cryptocurrencies for missed tax payments.
Bored Ape NFT frenzy; Play-to-earn sustainability questioned
China’s e-CNY pilot app is ready for download as Bored Apes headline NFT frenzy.
CBDCs and the year that may reshape crypto markets
Top blockchain and crypto news: CBDCs at the crossroads. A token gesture from Samsung. NFTs survive in China.
Chinese mining rig maker Canaan deploys 10K machines in Kazakhstan
Chinese cryptocurrency mining rig maker Canaan announced Tuesday that it has entered into multiple partnerships in Kazakhstan and deployed over 10,000 mining machines in the country, as the company steps up efforts to expand globally. Fast facts Canaan said in a statement it has successfully launched the last batch of mining machines online under its […]
Bitcoin, Ethereum price level sluggish while NFT sales volume surges
The crypto market leaders are trading sideways so far in the new year. But NFT trading volume has exploded, with strong Q1 performance expected.
What are the 3 key trends in cybersecurity in 2022?
Cryptocurrency is fueling crimes like malicious mining and ransomware attacks, writes Andrew Brandt of Sophos. What can a company do to protect itself?
Crypto is presidential election campaign issue for South Korea
In South Korea, a new presidential administration will be chosen in March. Here’s where the four major candidates stand on Korea’s booming virtual asset space.
China CryptoPunk sale; Use cases key to DeFi
A CryptoPunk is sold in a Shanghai auction house despite an existing crypto ban in China.
CryptoPunk NFT sells for $820K, reflecting Chinese investor interest
A CryptoPunk non-fungible token (NFT) — CryptoPunk #8690 — was sold at an auction in Shanghai organized by Shanghai Jiahe Auction earlier this week for 5,232,500 yuan (US$823,300), with a starting price of 1.5 million yuan (US$236,000), reflecting growing investor interest in NFTs in China despite criticism from state-controlled media. Fast facts V.V Yu, general manager […]
Top 5 NFT trends to watch in 2022
NFTs are finding novel uses across many sectors, from fashion to real estate. What industries stand to benefit most from this technology in the year ahead?
Bitcoin at 13; Raising capital on the blockchain.
Bitcoin is now a teenager but it’s not a celebration for some as Indian tax authorities raid crypto businesses.
South Koreans required to report overseas crypto accounts
In South Korea, virtual asset investors with more than 500 million Korean won, or approximately US$418,935, worth of crypto assets in overseas accounts must report to their regional tax authorities beginning in 2023. Fast facts According to a new year guidebook by the Ministry of Economy and Finance, any resident or domestic corporation with overseas […]
China moves to ban internet marketing services for crypto
The Chinese government published a draft regulation on Dec. 31 stating that no organization or individual is allowed to provide internet marketing for illegal financial activities, which include cryptocurrency transactions. Fast facts The regulation, drafted by the People’s Bank of China — China’s central bank — and other Chinese government institutions stipulates that any organization or […]
Binance faces regulatory rebuke in Ontario, obtains preliminary approval in Bahrain
The world’s largest crypto exchange continues struggling to stay compliant, but it has seen some luck in the Middle East.
Happy birthday, Bitcoin! You’re still killing it
Love it or hate it, Bitcoin can be a powerful force for good — and it’s here to stay, writes Peter Vessenes, co-founder of The Bitcoin Foundation.
After a stellar year for Bitcoin and record crypto prices, what to expect in 2022
2021 was a big year for crypto. As we enter a new year, Forkast.News asks market watchers what might be in store for the next 12 months.
Bitcoin at 13: The new age of crypto
With wider acceptance as a financial asset, a teenage Bitcoin may not see the explosive 200% average annual returns of the past, but also may experience less price volatility.
Top 5 blockchain trends for 2022 and beyond
Looking beyond this year’s headlines like El Salvador’s Bitcoin adoption, here are the key developments in blockchain technology that will have lasting impact in the new year and beyond.
South Korea crypto exchange underdogs: Where are they now?
A regulatory hurricane swept away half of South Korea’s crypto exchanges in 2021. Who are the survivors — and are there larger lessons for the rest of the world?
Crypto in Asia: 5 top fintech regulatory stories of 2021
Countries acted to encourage — or discourage — cryptocurrency and other blockchain-based assets, sending markets wildly up and down.
The top 5 ‘Ethereum killers’ of 2021
Ethereum was game-chaging at its 2015 launch, but today it’s showing its age. As Eth2 upgrades slowly unfold, who are the top rivals trying elbow out the #2 blockchain?
What lies ahead for crypto regulations in 2022
From China’s ban to FATF’s travel rule, crypto regulations have been top of mind this year. How might regulatory impulses and current trends play out?
Will 2022 be the year of crypto regulation?
Global shifts are underway in crypto regulations, writes Huong Hauduc of Bequant. How might the political and market forces play out next year?
Countries will jump aboard the crypto bus in 2022 or get left in its dust, says WazirX founder
Despite the looming parliamentary debate over banning private digital currency in India, the founder of Mumbai-based crypto exchange WazirX predicts thousands of new crypto startups.
Crypto Santa’s naughty and nice list for Christmas 2021
Who in the crypto world deserves Santa love this year, and whose chimney should be snubbed? The elves at Forkast.News help the big man with his list.
Year in review: Top China blockchain news in 2021
China tries to stamp out Bitcoin mining while increasing its influence over blockchain technology and preparing the digital yuan for launch. What lies in store for 2022?
Why I got a Bitcoin wallet, and how it can be used for crypto gift-giving and receiving
Curious to use Bitcoin but don’t know where to start? Forkast.News explains how.
What Sam Bankman-Fried thinks will happen with NFTs and crypto exchanges in 2022
Which blockchain sector will flourish, and what’s not yet ripe for mass adoption just yet? FTX CEO Sam Bankman-Fried offers his crystal ball in a special Forkast.News video.
Court overturns Korean Bitcoin ruling; Days numbered for SWIFT?
Court overturns Korean Bitcoin ruling, also are the days numbered for SWIFT?
Bitcoin sent by mistake, recipient will not be punished for keeping it: South Korea ruling
An investor who received $1.25M in Bitcoin by accident will not be criminally penalized, raising questions on the legal status of cryptocurrencies.
xSpend allows GameFi tokens, stablecoins to pay for real-world goods and services
Crypto finance platform XLD Finance wants to enable users to spend GameFi tokens and stablecoins to pay for real-world goods and services. Fast facts The company has launched its first project, xSpend, which allows users from Bangladesh, India, Indonesia, Malaysia and the Philippines to purchase mobile prepaid credits on the platform using GameFi tokens and stablecoins. Users may also pay Philippine-based […]
Bitcoin’s price is a lie, says Morgan Creek Capital chief
Bitcoin’s current price is not indicative of the crypto’s future prospects, says Mark Yusko, who looks forward to the tokenization of everything.
New Cosmos, Mastercard projects to boost Ethereum scalability
With Ethereum usage at all-time high, a Cosmos ‘bridge’ to other blockchains and Mastercard rollups aim to solve a major problem plaguing the Eth network.
Regulators and the problem of unstable stablecoins
Federal regulators have turned their sights on stablecoins. But is the attempt to tame this digital currency too late?
The Forkast.News guide to last-minute blockchain and crypto gift ideas
Not yet done with your holiday shopping? Here are ideas for all the loved ones on your list, whether they are tech-savvy or merely crypto-curious.
Delay likely for India’s crypto bill; Crypto’s landmark year
Delay likely for India’s crypto bill, none the less 2021 becomes crypto’s landmark year.
Game company Nexon America now accepts crypto for in-game payments
Asia’s gaming giant Nexon’s US subsidiary supports cryptocurrencies for players in buying items inside its popular online games.
Court in Beijing says losses caused by crypto mining deals not protected by law
In a contract dispute case, a Beijing court in Chaoyang district on Wednesday ruled a legal arrangement for Bitcoin mining to be invalid, signaling how China’s legal system may view future crypto-related disputes. Fast facts In May 2019, the plaintiff, Fengfu Jiuxin company, signed purchases and services contracts with blockchain technology company Zhongyan Zhichuang, with the latter […]
Venture capitalists are falling for play-to-earn gaming startups
Games like Axie Infinity are now the darlings of big investors. Does it matter that revenue is falling and many players earn less than the minimum wage?