Forkast.News is now Forkast Labs

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.
and

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.

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?
and

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.