Blockchain technology can make a big impact on the world we live in, according to authors Kosrow Dehnad and Joe Duncan. A prime example: Tesla’s driverless vehicles.
Wolfram Blockchain Labs and Cardano are set to host a livestream event in which items from Wolfram’s computational universe will be “Liveminted” as NFTs on the Cardano network. Details of the event were shared on the website of Cardano’s parent company, Input Output Hong Kong recently, which said it would take place on July 28. […]
Chinese cryptocurrency mining rig maker Bitmain has partnered with Enegix, which runs one of the biggest crypto mining data centers in Kazakhstan, to host its Antminer machines in the Central Asian nation. Fast facts Bitmain said in a statement on Friday that it had joined hands with Enegix, a data center operator in Kazakhstan, to […]
BIT Mining — a New York Stock Exchange-listed company that only months ago became a big investor in Chinese cryptocurrency mining — has decided to exit its Chinese lottery-related business and focus more on mining outside the country. Fast facts BIT Mining, formerly known as 500.com, has operated online sports lottery services, but announced on […]
Cryptocurrencies are gaining traction in Singapore, especially among younger investors. A survey of 1,000 Singaporeans carried out by Toluna, a consumer insights provider, has shown that 43% of Singaporeans own crypto and that 74% of them have increased their wealth by using it as an investment. Fast facts The survey is said to have been […]
Amid growing concerns surrounding ransomware attacks in the U.S., Senator Gary Peters has announced a bipartisan investigation of how cryptocurrencies could be facilitating such activity, Bitcoin.com reports. Fast facts In a statement, Sen. Peters, who is also the chairman of the Homeland Security and Governmental Affairs Committee, said: “The increased use of cryptocurrencies as the […]
FTX CEO Sam Bankman-Fried says it’s time to move on from high leverage in crypto trading. Binance also seeks new CEO with a stronger regulatory background.
India updates its CBDC plans and Korea threatens to block exchanges
Speaking at an SCB 10X DeFi virtual summit, Binance CEO Changpeng Zhao says an IPO is not out of the question, but that the exchange first needs to set up corporate structures as it navigates increased regulatory scrutiny.
The cryptocurrency community is watching Ethereum closely, with the EthCC event in Paris having wrapped up, Ether prices showing new strength and the London upgrade just around the corner.
Authorities in Sichuan — a southwestern Chinese province that was once a hotbed for crypto mining, thanks to its abundant hydropower resources — is tightening scrutiny of small hydropower stations, without giving any exact reasons behind the move. Fast facts The Sichuan Provincial Water Resources Department said that it had listed 5,131 small hydropower stations […]
US Securities and Exchange Commission staffers say their appointed leaders’ views do not reflect the agency’s stance on Ripple and XRP.
Case could be first fatality associated with mining, although hot-running equipment has history of starting fires.
India plans to implement the country’s digital currency in phases, Reserve Bank of India’s deputy governor Shri T Rabi Sankar said at a webinar organized by the Vidhi Centre for Legal Policy, New Delhi. Fast facts “CBDC (central bank digital currency) will be in the arsenal of most if not all central banks in the […]
Indonesia has seen red-hot growth in the crypto asset market, but the country’s regulators are just beginning to get to grips with burgeoning industry and formulate policy responses.
Ping An trials e-CNY while Core Scientific is the next to get on the SPAC train.
U.S. cryptocurrency miner Core Scientific Holding is set to list on the Nasdaq exchange through a merger with a special-purpose acquisitions company, boosting the value of the combined business to around US$4.3 billion. Fast facts Core Scientific, one of the biggest crypto mining companies in the U.S., announced yesterday that it had entered into merger […]
The prospect of a ban on cryptocurrencies has haunted the industry for years, but it appears to be receding as delayed rules give policymakers time to think before they act.
In a special Q&A, Mukaya ‘Tai’ Panich of SCB 10X, the venture arm of Siam Commercial Bank, marvels at decentralized finance innovations. ‘Whatever traditional finance has, there’s a parallel version in DeFi.’
FTX closes record fundraise. Additionally, China Mobile gets hot wallet patent.
Top blockchain and crypto news: FTX swells to $18 billion valuation. Etherum and Dogecoin disowned by creators. US pols call for Olympics boycott of e-yuan.
Optimum Mining Host-Black Rock Petroleum plan comes as Canaan seeks greener operations through Czech partnership.
Fee-free trading app Robinhood is seeking a market valuation of US$35 billion in its upcoming initial public offering, according to a filing to the U.S. Securities and Exchange Commission. Although the amount is significant, it is lower than the US$40 billion initially estimated, due in part to slow crypto trading in recent months. Fast facts […]
Fast-growing FTX just pulled off the largest-ever fundraise for a crypto exchange to date. Will heightened regulatory scrutiny lie in its near future?
Singapore-based Enjin, a non-fungible token and gaming blockchain platform, today announced it is joining the United Nations Global Compact corporate sustainability initiative as part of its efforts to develop a sustainable NFT ecosystem. Fast facts The Global Compact is a voluntary sustainability initiative for companies working towards implementing the UN’s Sustainable Development Goals. Through its […]
US Senators urge E-CNY ban while Russia woos crypto-miners
Demand for non-fungible tokens appears insatiable as industry distances itself from crypto sector to avoid crackdown.
Plentiful electricity, cold climate are among drawcards as Chinese mine operators flee crackdown at home.
Retailers reluctant to accept currency they are said not to trust even as large finance sector players offer crypto products and beef up their holdings.
U.S. crypto lending platform BlockFi has been ordered by the New Jersey Bureau of Securities to stop accepting new customers who are based in New Jersey for its interest-bearing accounts due to alleged violations of securities laws. The order takes effect from from July 22. Fast facts In a series of tweets, BlockFi’s CEO and […]
The European Securities and Markets Authority should regulate digital currencies in the European Union, according to a proposal by the Autorité des marchés financiers, France’s securities regulator. Fast facts The AMF said it made sense for a single body to take charge of regulation across the bloc to ensure a Europe-wide framework could be applied, […]
U.S. Treasury Secretary Janet Yellen says that the United States needs “to act quickly to ensure there is an appropriate U.S. regulatory framework in place” for stablecoins. Fast facts Yellen made her comments at a Meeting of the President’s Working Group on Financial Markets, held on July 19. According to a readout of the meeting, […]
Turkey’s deputy finance minister says a draft bill to create a cryptocurrency regulatory framework will be submitted to parliament in October, according to a report by CNN Türk. Fast facts The bill will define different types of virtual currencies and principles for their issuance and distribution. The country’s Capital Markets Commission will supervise companies handling […]
Cryptocurrency investment manager Grayscale has started a fund focused on decentralized finance tokens and based on CoinDesk’s new DeFi-specific index, the company has said in an announcement. Fast facts The fund offers investors a selection of leading DeFi protocols through a market capitalization-weighted portfolio designed to track the index. It allows investors to allocate funds […]
E-CNY white paper explains how it will work with physical RMB while Malaysia steamrolls mining rigs.
Decentralized lending platform Aave will build “Twitter on Ethereum,” its founder, Stani Kulechov, tweeted during the weekend. His message came seemingly in response to an announcement that Twitter founder Jack Dorsey was developing a Bitcoin-oriented fintech platform resembling Aave. Fast facts Dorsey, who is also CEO of payments company Square, tweeted that the firm was […]
The U.S. Securities and Exchange Commission (SEC) and Ripple Labs have agreed to reschedule the deposition of William Hinman, the former head of the SEC’s Division of Corporation Finance, to July 27. Fast facts Last week, U.S. Magistrate Judge Sarah Netburn ruled to authorize Hinman’s deposition to proceed, with a delay to allow the SEC […]
While the West has first mover advantage in traditional banking, Asia — not wedded to ol infrastructure — now has an edge in the crypto era, says Michael Shaulov of Fireblocks.
Why is social media’s current centralization problematic, and what would a decentralized Twitter or Facebook look like?
Ripple scores major discovery win as judge rules ex-SEC official William Hinman must answer ‘central question’ on Ethereum in the globally-watched case about XRP.
India seeks crypto advice meanwhile K-drama joins NFT bandwagon
Tether stablecoins linked to funds funneled to banks in Singapore and elsewhere amid worldwide cryptocurrency crime increase.
Ever wanted to own a piece of game-worn NBA merchandise, but without that well-worn fragrance? Now you can. Brooklyn Nets star Spencer Dinwiddie is selling a pair of shoes he has worn in-game as a non-fungible token, Forkast.News has learned. Fast facts The shoes on auction are from Dinwiddie’s K8IROS clothing range, and all proceeds […]
ICICI blocks crypto transfers as South Korean banks are to report crypto crime.
The9 and BIT Mining — non-crypto firms that pivoted to crypto mining during Bitcoin’s boom — now seek to ‘expand’ overseas.
Proliferation of copycat non-fungible tokens based on media image sparks fresh concerns over authenticity, creators’ rights.
Turkey’s tax authorities have told companies with cryptocurrency-related business to report information on their ultimate controllers as a part of their tax filings. Fast facts An official document states that the requirement is part of meeting Organisation for Economic Co-operation and Development guidelines on tax transparency. Crypto companies must submit their first filings by Aug. 31 […]
ICICI bank, one of India’s largest lenders, has warned its customers against using its international remittance services for transferring any form of cryptocurrency, the Bharat Express reports. Fast facts The Industrial Credit and Investment Corporation of India recently made an amendment to an international remittance form compelling customers to declare: “The above remittance is NOT […]
Financial index provider S&P Dow Jones has launched five new cryptocurrency indices, according to a company statement, bringing its total number of crypto indices to eight. Fast facts The most significant of these new indices is the Cryptocurrency Broad Digital Market (BDM) Index, which includes more than 240 coins and can be used for a […]
As issuer Circle prepares to list and China sounds the alarm over speculation, the mood among regulators is mixed, despite stablecoins’ clear appeal to investors.
In the second installment of a 2-part report, Lucas Schweiger of Blockdata examines the most notable current trends in blockchain and capital markets.
South Korean financial watchdog says the nation’s crypto laws will apply to foreign exchanges.
Police in Aichi Prefecture in central Japan have arrested four men on suspicion of crypto investment fraud, according to a report by Kyodo News. Fast facts According to a person familiar with the matter, it was suspected that a total of at least 6 billion yen (US$54 million) was collected from more than 20,000 people […]
A Shanghai procuratorate has held a seminar gathering judges, police, procurators and scholars to discuss how crimes related to cryptocurrency fit into China’s current legal framework. Fast facts The procuratorate said in a post on Monday that there had been confusion as to how to categorize cryptocurrencies. Some consider them data, while others regard them […]
Grayscale Investments — the world’s largest digital asset manager — has registered its Digital Large Cap Fund with the U.S. Securities and Exchange Commission following the filing of a registration statement Form 10 last year. Fast facts The company has also announced it is filing three additional registration statements via the same form for the […]
Korean banks extend partnerships with crypto exchanges — for now. And also in Korea, how to earn crypto during bathroom breaks.
A 101.38-carat diamond sold at auction in Hong Kong has become the most physical object ever to have been purchased using cryptocurrency, Bloomberg reports. Fast facts The HK$95.1 million (US$12.3 million) sale price nevertheless fell short of the expected US$15 million price, auctioneer Sotheby’s said. A spokesperson for Sotheby’s told Forkast.News it was unable to […]
Despite opposition from the U.S. Securities and Exchange Commission, Ripple is pushing ahead with plans to question former SEC director William Hinman, the former head of the regulator’s Division of Corporation Finance, telling the judge overseeing discovery in the SEC v. Ripple Labs lawsuit that Hinman’s deposition has been rescheduled to July 19, according to a […]
Crypto industry gets the ‘overleveraged’ label and authorities are cracking down on derivatives providers. Alexander Höptner of 100x believes the pushback foreshadows the industry’s next big thing — derivatives.
Market dominance suggests that investors are flocking towards Bitcoin as Covid delta variant concerns hit markets. In Thailand, authorities remind the industry of their stance on cryptocurrency payments.
Cryptocurrency miners blamed for blackouts as government eyes excess electricity for mooted state crypto mining operation.
U.S. Senator Elizabeth Warren has written to Securities and Exchange Commission Chair Gary Gensler enquiring about the SEC’s authority to regulate cryptocurrencies and asking what future congressional regulatory action is needed, according to a Reuters report. Fast facts Requesting a reply by July 28, Warren, who heads the Senate Banking Committee’s Subcommittee on Economic Policy, […]
The price of Bitcoin and other cryptocurrency continue to slide as global failure to contain the Covid Delta variant lead to worries of another economic downturn.
NFTs offer haven as authors self-censor amid intensifying crackdown on free expression.
Though Dogecoin and NFTs dominate headlines, their underlying technology — blockchain — is transforming our world in more meaningful ways, according to authors Kosrow Dehnad and Joe Duncan.
Is William Hinman a former ‘high-ranking’ SEC official exempt from disclosing his prior communications on XRP, or must he provide testimony to Ripple?
Solidifying its stance against cryptocurrency like Bitcoin, the Bank of Thailand declared yesterday that it does not support the use of cryptocurrency as a means of payment, likening crypto transactions to “barter trade” as the bank does not consider crypto legal tender. Fast facts Siritida Panomwon Na Ayudhya, assistant governor of payment systems policy for […]
Korea issues penalties for kimchi premium arbitrage as China holds its 15th digital yuan pilot trials.
Customs officers use foreign exchange law to shut down cycle of foreign remittances and arbitrage.
Warning comes as Beijing ramps up efforts to internationalize China’s currency through launch of digital yuan.
Israel’s National Bureau for Counter Terror Financing has issued a seizure order against 84 cryptocurrency addresses associated with Palestinian resistance group Hamas as it looks to confiscate holdings of Bitcoin, Tether, Dogecoin and other cryptos. Fast facts “This action comes after a sizable uptick in cryptocurrency donations to Hamas in May following increased fighting between […]
More than US$1 billion was spent on crypto-linked Visa cards in the first six months of 2021, according to a Visa blog post this week. Fast facts Apart from enabling customers to buy cryptocurrencies like Bitcoin using its cards, Visa has partnered with 50 crypto platforms on card programs — such as Coinbase, the largest […]