Search results: MAS

Fractionalizing assets on-chain can greatly increase liquidity, security and market efficiency, writes Hamilton Keats. Here are the key trends and challenges.

Bitcoin fell over 10% this week and dipped to a two-month low following Evergrande’s bankruptcy filing.

Bitcoin traded at around US$26,800 on Thursday morning in Asia after hitting a two-month low of around US$25,400. Ether fell below US$1,700.

Global institutional intrigue in digital currencies grows but the cryptocurrency market shows no signs of rallying.

Top blockchain and crypto news: Singapore steps up stablecoin rules. DeGods decline. Hong Kong’s third crypto license.

Bitcoin, Ether and Top 10 crypto fell on Thursday morning in Asia. Coinbase receives futures approval.

Binance will shut down its cryptocurrency payment service Binance Connect on Aug. 16, a Binance spokesperson confirmed. 

The Monetary Authority of Singapore unveiled a stablecoin regulatory framework on Tuesday as the city-state aims to become a global hub for the crypto industry.

Wall Street thought crypto would be a passing fad. But more big institutions are having a change of heart, in spite of crypto’s protracted market woes.

NFT data reveals a staggering 876,000 transactions across DMarket, DraftKings, Gods Unchained, and Sorare. DMarket alone boasts over 15 million NFTs. Combined, these giants account for nearly one-third of all NFT transactions.

The FTX founder faces charges of wire fraud, securities fraud, commodities fraud and money laundering related to the exchange’s collapse in November.

Bitcoin edged higher on Tuesday morning in Asia. Ether also edged up, while other top 10 non-stablecoin tokens traded flat to higher. Solana led the winners.

Australian banks are heightening scrutiny on digital asset exchanges and restricting crypto payments due to rising scams and frauds. Caroline Bowler, CEO of BTC Markets highlights the challenges and opportunities faced by the industry in the country.

Sam Bankman-Fried, founder of the collapsed crypto exchange FTX, was jailed Friday and his bail revoked ahead of his trial for fraud scheduled for October 2.

Bitcoin briefly rose above US$30,000 twice this week, but failed to remain the support level despite positive catalysts in the industry like the launch of PayPal’s new stablecoin. Bitcoin will have to close the week above US$29,300 for upward momentum, industry experts told Forkast.

Recently proposed by Singapore in collaboration with fintech heavy hitters, PBM can be a powerful tool for promoting accountability and efficiency, writes Anndy Lian. But it’s not without risks.

PayPal launches stablecoin. Traditional gamers take on NFTs. Tough times ahead for Huobi.

Rumors of arrest and insolvency plague the Huobi cryptocurrency exchange, which enjoys close ties to the Tron founder Justin Sun. How will Huobi respond?

Wreck League: New PVP NFT game with custom mechs set to dominate. Partnerships with Yuga Labs and Bored Ape Yacht Club promise big potential in shifting NFT market landscape.

Bitcoin and Ether fell during Tuesday afternoon trading in Hong Kong, along with most of the top 10 non-stablecoin cryptocurrencies by market capitalization. Long term investors continue accumulating Bitcoin, despite the asset’s recent price action, industry experts told Forkast.

Combining blockchain with AI, two of the greatest innovations of this era, will unlock myriad benefits for consumers and businesses alike, writes Eugen Kuzin.

Bitcoin edged up on Tuesday morning in Asia after U.S. multinational payment giant PayPal launched a U.S. dollar-pegged stablecoin on Monday.

As war rages in eastern Europe, this first installment in a two-part series looks at the growing use of crypto funding in global conflicts, focusing on the small but significant provision of supplies to pro-Russian mercenary groups in Ukraine.

Welcome to Forkast IQ, presented by Angie Lau, where we look beyond the headlines to get you insights that power smarter decisions. Coming up on today’s show:

Japan’s blockchain group urges tax change. Bitcoin NFT struggles but it may be a sleeping giant. Litecoin falls after halving.

Revenue for NFT services on the Bitcoin network, or the aggregate value of marketplace fees and creator royalties, declined over July even as total Ordinals inscriptions crossed 20 million.

The Republic of Kenya has suspended Worldcoin, a cryptocurrency project co-founded in 2019 by OpenAI chief Sam Altman, while the country’s security and data protection services look into the authenticity and legality of the project, the Ministry of the Interior and National Administration said on its Facebook page on Wednesday.

If Web3 wants to be an alternative to traditional finance, the industry must make itself less vulnerable to hacks and security breaches, writes Richard Meissner.

Bitcoin and Ether slipped during Monday afternoon trading in Hong Kong along with all other top 10 non-stablecoin cryptocurrencies by market capitalization, except the BNB token, with crypto markets poised for an uneventful month ahead, industry experts told Forkast.

Concerns arise over Worldcoin’s free crypto. NFT market does a crabwalk. Japan’s next big thing for the metaverse.

Bitcoin and Ether slipped during Thursday afternoon trading in Hong Kong, while all other top 10 non-stablecoin cryptocurrencies by market capitalization rose, except Dogecoin.

The U.S. House Financial Services Committee passed a bill Wednesday aimed at defining whether cryptocurrencies are securities or commodities.

Bitcoin gained Thursday morning in Asia, but not enough to breach US$29,500 after the Fed raised interest rates by the expected quarter point.

Bitcoin and Ether slipped during Wednesday afternoon trading in Hong Kong, while most other top 10 non-stablecoin cryptocurrencies by market capitalization rose, led by Dogecoin.

CyberKongz plans a shift to the Ronin blockchain alongside Axie Infinity as Sky Mavis gears up for its first PFP collection and third-party NFT mint.

Bitcoin traded flat on Wednesday morning in Asia as risk-aversion remained the market theme, though the token managed to hold above US$29,000.

Already home to most of the world’s gamers, Asia has a rich pedigree in seeding and embracing new technologies, writes Robbie Ferguson of Immutable.

Top blockchain and crypto news: Ripple not clear of hurdles | NFTs in historically slow period | Hong Kong banks dither

Despite ample Ethereum holdings, traders appear less willing to invest in NFTs. Ethereum wallet growth data in 2023 suggests low NFT sales, while Ether used for NFT sales has dropped to 2021 levels.

Shinhan Bank, the second largest bank in South Korea, and SCB TechX, the technology unit of Siam Commercial Bank, the oldest bank in Thailand, announced on Tuesday that they completed a second stablecoin transaction trial on the Hedera, a public distributed ledger network. 

As the US is engulfed in regulatory strife, Asian countries are rolling out legal frameworks that attract crypto investment, protect consumers and encourage innovation.

A favorable U.S. court ruling for Ripple boosted Bitcoin prices. All top 10 non-stablecoin cryptos rallied with XRP prices gaining 62% in the past 24 hours.

Top blockchain and crypto news: Standard Chartered eyes US$120,000 per Bitcoin | Another week of declines in NFT market | Sega and Line team up.

As stores of our identity, customs and creativity, NFTs will drive Web3 adoption and become central to the new digital economy, writes Yat Siu, executive chairman of Animoca Brands.

Bitcoin trade volumes dropped in the last 24 hours but the token is holding steady above US$30,500. Binance’s BNB token posted the biggest gain while most other top 10 cryptocurrencies traded mixed.

Bitcoin rose on Wednesday morning in Asia to trade above US$30,500. Ether traded flat while most other top 10 non-stablecoin tokens gained. SOL led winners.

Blur has been adding demand for specific collections by incentivizing floor NFT trading, which may have mitigated aggressive price undercutting for liquidty.

The key to making crypto easier to use while less prone to skulduggery lies in centralizing some security and UX features, writes Hsuan Lee of Blocto.

Crypto’s current turmoil in the US stands in stark contrast to other jurisdictions that are paving paths to for the industry to shine, writes Sean O’Connor.

While Asia nations such as Singapore and Thailand seem to be following the U.S. regulator in frowning upon certain products offered by crypto exchanges, the approach in Asia so far seems to be clarity instead of court battles, in contrast with North America

Crypto buying subsided as the U.S. regulator made no official comment on Bitcoin exchange-traded fund (ETF) applications and executives quit Binance, the world’s largest crypto exchange.

Bitcoin fell below US$30,000 on Friday morning in Asia as traders took profits amid worries about interest rate hikes in U.S. markets.

Southeast Asia steps up regulation. No end in sight for NFT market decline. Voyager’s shrinking portfolio.

Cryptocurrency service providers in Singapore will have to keep customer assets under a statutory trust before the end of the year, for safekeeping purposes, the city state’s central bank announced Monday.

Digital assets funds have been flowing in waves all over the world since crypto’s inception, writes Amy Yu, CEO of SEBA Bank. Where is crypto capital going now?

South Korea approved a bill to protect cryptocurrency investors as part of building the country’s first legal framework devoted to digital assets.

Dmitri Cherniak’s generative art NFT, ‘The Goose’, sold for US$5.4 million at Sotheby’s. The sale, a second highest for generative art, signals NFT art’s growing prominence and potential in the Web3 era.

Ripple Labs’ Asia-Pacific branch is offering digital payment services in Singapore after receiving in-principle approval of its license application from the MAS on June 22. What does that mean for the company’s Asia business?

The market now has 26,000 different cryptocurrencies and the total number of coins in circulation approaches infinity. How do those tokenomics make any sense?

Top blockchain and crypto news: Fidelity Investment is reportedly close to filing its own Bitcoin ETF. NFT traders seek liquidity. Singapore eyes asset tokenization.

Geisha, kimono, tea ceremony — the Japanese city of Kyoto is a place rich in traditional culture. But as the national government pivots toward the cutting edge potential of digital assets and Web3, the city is this week playing host to one of Asia’s largest crypto get-togethers.

Collaborative venture building involves pooling resources, expertise and ideas — a strategy ideal for Web3 startups to succeed, writes Katherine Ng.

Azuki’s Elementals launch may be a turning point for the NFT market, with the continued decline of top projects’ floor prices.

The Monetary Authority of Singapore (MAS), the city state’s central bank, has proposed a framework for designing open, interoperable networks for digital assets, developed jointly with the Bank for International Settlements and other financial institutions. 

Five countries in South and Southeast Asia now rank in the global top 10 for cryptocurrency adoption, embracing DeFi and defying government attempts to discourage crypto use. Is this a harbinger of larger trends to come?

Despite its potential, Web3 gaming has had mixed reviews from gamers and developers, writes Freddie Ng. Here are the challenges and opportunities.

Bitcoin traded above US$30,000 to hold onto the strong gains made this week on the back of growing institutional interest in the token as an emerging asset.

Top blockchain and crypto news: Wall Street backs new crypto exchange. NFT traders remain cautious. Alibaba’s incoming chairman is a crypto fan.

The Asia-Pacific arm of San Francisco-based technology firm Ripple Labs saidThursday it received in-principle approval to start offering digital payment services in Singapore.

The Monetary Authority of Singapore (MAS) released on Wednesday a whitepaper for “purpose bound” money, detailing a technical overview of digital currencies designed for specific purposes.

The relationship between Hong Kong and crypto will likely only grow stronger over time, as it’s based on mutual respect as well as need, writes Lily King.

Ethereum developers inspired by Bitcoin’s ordinals launch ‘Ethscriptions’, a new on-chain collectible.