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Crypto exchange Binance looks to Ireland for regional HQ

Binance — the largest cryptocurrency exchange in the world — is looking at setting up regional headquarters in Ireland, according to Reuters. Fast facts “Historically, we claim that we don’t have headquarters. We are actually just in the process of establishing a few headquarters in different parts of the world,” Binance CEO Changpeng Zhao told […]

What Powell’s ‘No intention to ban’ means for crypto

  Jerome Powell’s remarks on Sept. 30 following his testimony about the financial hardships of the pandemic caught the attention of crypto enthusiasts. Taking questions from the House Committee on Financial Services, Chairman Powell said the Federal Reserve would not seek a ban on crypto but reiterated that stablecoins should be regulated.  Bitcoin jumped by […]

CoinSwitch Kuber becomes unicorn; Australians reminded over crypto tax

Coinswitch Kuber becomes unicorn meanwhile Australians reminded over crypto tax

India gets second crypto unicorn within two months

Indian crypto exchange CoinSwitch Kuber has become the country’s second crypto unicorn after raising US$260 million in a Series C funding round, the startup announced. Fast facts The latest funding round drew in marquee investors — it was led by Coinbase Ventures and Andreessen Horowitz (a16z). Existing investors Sequoia, Paradigm, Ribbit and Tiger Global also participated […]

Judge makes XRP holders ‘friends of court’ in SEC’s lawsuit against Ripple

A US court has denied XRP holders’ bid to join the SEC v. Ripple lawsuit as third-party defendants, but XRP advocates say being ‘amici curiae’ is still a win.

South Korea will tax crypto but not NFTs

South Korea’s finance minister says that while income from virtual asset transactions will be taxed starting Jan. 1, 2022, NFTs (non-fungible tokens) are not to be taxed yet. Fast facts At the National Assembly’s annual review on Wednesday, Minister of Economy and Finance Hong Nam-ki said the government plans to start taxing virtual asset gains […]

SHIB price surges, biggest gains since May

Outstripping the explosive growth of Dogecoin in the past week, copycat memecoin SHIB was up over 300% over the past four days this morning, briefly reaching a five-month high of US$0.00003436, according to CoinGecko. Fast facts Trading at US$0.00003079 at press time, this marks the second massive jump in the Shiba Inu coin’s price since […]

U.S. crypto enforcement team to target cybercrime

Making the most of cybersecurity awareness month, which marks its 18th year this October, the U.S. Department of Justice has announced it is launching a national cryptocurrency enforcement team targeting cybercrime. Fast facts During a virtual speech at the Aspen Cyber Summit on Wednesday, Deputy Attorney General Lisa Monaco said: “Cryptocurrency exchanges want to be […]

Australian Tax Office warns: taxpayers on the hook for crypto tax earnings

Officials are concerned that many investors may not be aware crypto trading is taxed in a similar way to share trading.

How to protect digital privacy and freedom of expression | Ep. 4

The importance of digital privacy, freedom of expression and civil liberties and how Web 3 can protect them.

Crypto miners blamed for Kazakhstan’s power shortages; Bitcoin on the up

Kazakhstan blames its newly settled crypto miners for power shortages as South Korea’s largest exchange is accused of listing faulty tokens for profits.

How should the world tackle crypto criminals and digital dangers?

Top blockchain and crypto news: US leads charge in ramping up cybersecurity. Crypto fans crow as Facebook flops. China bears down on metaverses.

Brazil seeks to make Bitcoin a legal ‘payment currency’

Brazil’s legislators are expected to discuss in the next few days a bill that seeks to establish a regulatory framework for cryptocurrencies, which may be a major step toward making Bitcoin a legal “payment currency” in the country if approved by the congress. Fast facts Bill 2.303/15, proposed by Federal Deputy Aureo Ribeiro, aims to […]

Bitcoin mining difficulty rose to the hardest since June

Bitcoin miners saw another mining difficulty adjustment on Tuesday, with an increase of 4.71%, according to data from BTC.com. Fast facts The mining difficulty level is now at 19.89 trillion at block height 703,584, reflecting the most difficult level since a previous adjustment on June 14, the data show. The latest increase follows five increases after four […]

Top South Korean exchange accused of listing faulty tokens for fees

A lawmaker claims Upbit earned hundreds of millions by listing sketchy cryptocurrencies, while the exchange rebuts that it follows fair and strict standards.

Sky Mavis receives $3B valuation in funding round amid tumultuous period for Axie Infinity

Sky Mavis, the company behind leading non-fungible token game Axie Infinity, has raised US$152 million in a Series B funding round with a valuation of nearly US$3 billion, according to news outlet The Information. Fast facts Led by venture capital firm Andreessen Horowitz, Sky Mavis said it will use the funds to improve its blockchain […]

Bitcoin price crosses $50K, but market dominance continues falling

This is the second time the world’s largest cryptocurrency has hit the mark in recent months. Does that mean this price point is here to stay?

U.S. Bank launches Bitcoin custody service as more banks enter crypto realm

U.S. Bank, the country’s fifth-largest retail bank, will now offer custody services for cryptocurrencies, starting with Bitcoin, the bank announced on Tuesday. New York Digital Investment Group, a fintech firm dedicated to Bitcoin, is the first crypto sub-custodian in the bank’s network of providers, the statement said. Fast facts The services are geared toward institutional […]

What are the biggest challenges for institutions that adopt crypto?

What does it mean to provide ‘institutional’ crypto services, and what role does blockchain technology play? Robert Cooper of Digivault explains.

Korea crypto tax pause called for; TikTok jumps into NFTs

Korea crypto tax pause called for meanwhile Tiktok jumps into NFTs

Petitioners oppose looming 20% crypto tax in South Korea

Crypto investors say virtual asset gains will be taxed on uneven grounds compared to stock capital gains.

How Singapore is emerging as a safe harbor for the Chinese crypto industry exodus

As China intensifies its crypto crackdown, regulatory clarity is a beacon for safer shores in Southeast Asia.

What is Hong Kong’s future as a crypto hub?

Hong Kong, a hotbed for crypto startups and exchanges, is at a crossroads, writes Jeremy Ng of Gemini. Here’s how the industry can better secure its future.

Central and Southeast Asia among fastest-growing regions in global crypto adoption: Chainalysis

Much of the growth in the region is driven by strong grassroots adoption rates led by Vietnam, India and Pakistan, new data from Chainalysis shows

Bitcoin funds lead 7th consecutive week of inflows: CoinShares data

Bitcoin investment products saw inflows of US$69 million last week amid improving investor sentiment, according to digital assets fund manager CoinShares. Fast facts “We believe this decisive turnaround in sentiment is due to growing confidence in the asset class amongst investors and more accommodative statements from the U.S. Securities [and] Exchange Commission and the Federal […]

e-CNY chat wallet launched; Korean illegal crypto transactions surge

China’s telecom giants to bring digital yuan transactions to mobile chatting boxes.

Why domestic and overseas Chinese should worry about China’s crypto ban

In a special Q&A, a Canadian law advisor who works with Chinese clients breaks down the ban’s potential legal boundaries and concerns held by overseas Chinese.

What are stablecoins, and why are some governments so afraid of them?

Stablecoins combine the portability of crypto with the price stability of fiat currencies. But are they all that stable?

How will China’s new dictates affect Hong Kong’s future as a crypto hub?

Mainland China’s recent clampdowns on crypto are reverberating beyond its borders. In a special Q&A, former regulator and crypto industry leader Angelina Kwan discusses what this means for Hong Kong.

Crypto on the beach: FTX and other players find paradise in the Caribbean

This week, FTX announced it is moving its headquarters from Hong Kong to the Bahamas, as the larger Caribbean region takes on a bigger role as host to virtual currency exchanges.

Singapore grants crypto licenses to DBS and Australian exchange Independent Reserve

The Monetary Authority of Singapore (MAS) today granted licenses to DBS Vickers (DBSV), the brokerage arm of DBS Bank, and Independent Reserve, an Australian cryptocurrency exchange, to provide digital payment token services under the Payment Services Act (PS Act). Fast facts Formal approval from MAS, which follows its earlier “in-principal approval” granted to both companies […]

Tech selloff positions Bitcoin as an inflation hedge

Markets on Tuesday in the U.S. were unsettled by the prospect that energy crises in Europe and China could lift inflation to new highs, compelling central banks to reverse accommodations sooner than expected. US Treasuries reacted with a fierce rise in yields and that spilled over to the equity markets.  Although the markets drove down […]

South Korean game developer, crypto exchange team up for next level gaming

Mobile game company Gamevil buys a large share of crypto platform Coinone, planning to develop blockchain-based gaming.

DeFi benefits from China ban; Gamevil increases Coinone stake

DeFi benefits from China ban while Gamevil increases Coinone stake

A crypto-trading hamster is outrunning Warren Buffett

Although scarcely the size of a human palm, Mr. Goxx is earning big returns in the virtual currency market, raking in a 16% return as of Tuesday.

After the crackdown: go underground, go along, or buy the dip?

Chinese social media has been abuzz since authorities lowered the boom on crypto. Forkast.News has been following the chatter. Here’s what they’re saying on Weibo, the Chinese equivalent of Twitter.

dYdX price surges 80% in a week to all-time high

dYdX, the governance token for the dYdX exchange protocol, surged to a new all-time high of US$27.86 today, according to CoinGecko data. Fast facts dYdX is a decentralized exchange (DEX) built on Ethereum that currently supports perpetual contracts, margin trading and spot cryptocurrency trading, as well as lending and borrowing. It is a non-custodial exchange […]

Why China’s latest stomp on crypto is turbo-charging DeFi growth

DeFi tokens like dYdX soared after China’s latest move to throttle crypto. Is this a short-term spurt or decentralized finance shifting into high gear?

Who in the world should worry about China’s new crypto ban?

As Chinese authorities take aim at crypto violations outside mainland borders, Forkast.News asks lawyers in the know: Who is in China’s line of fire?

How China’s crypto clampdowns could reshape the rest of the world

Against the global tide of digital asset adoption, China’s harshest crypto ban yet heralds golden opportunities, writes Richard Byworth of EQONEX. Other governments should take note.

China crackdown legal concerns; Korea discusses virtual asset law

China crackdown legal concerns as Korea also discusses virtual asset law

South Korean banks find workaround to cash in on crypto services

NH Nonghyup is the third bank in South Korea to invest in a virtual asset custody service while they are prohibited from running their own.

Unmade in China: Beijing’s crypto cold war turns hot

Top blockchain and cryptocurrency news: Beijing’s crypto crusade comes to a head. Chinese mining caves in. Mr. Goxx reaps robust returns.

Retail malls, move over. Crypto mining is in for Malaysia’s Hatten Land

Malaysian property developer Hatten Land has signed an agreement, through a subsidiary, with Singapore-based digital asset management company Frontier to share proceeds from jointly operating at least 1,000 cryptocurrency mining rigs within Hatten Land properties in Malaysia, according to a company statement released today. Fast facts Hatten Land has previously announced that it would repurpose […]

BeePool, Tiger Brokers among the latest to respond to China’s crypto ban

China’s stepped-up cryptocurrency ban continues to send shockwaves through the industry, as more crypto service providers are shutting their doors to users in China. BeePool and Tiger Brokers are among the latest to announce service suspensions. Fast facts China-based BeePool, the fourth-largest Ethereum mining pool in hashrate, said Tuesday that it has stopped registering new […]

CFTC slaps $1.25M fine on crypto exchange Kraken for illegal offerings

The U.S. Commodity Futures Trading Commission has slapped a US$1.25 million fine on Kraken, one of the largest cryptocurrency exchanges in the U.S., for Commodity Exchange Act (CEA) violations, the CFTC announced yesterday. Fast facts The CFTC, in its settlement with Payward Ventures Inc., the San Francisco-based company doing business under the name Kraken, said […]

China fallout hits mining; Korea digital custody competition heats up

China fallout hits mining meanwhile Korea digital custody competition heats up

How central banks are wielding blockchain in soft power competition

China’s crypto ban is part of a global battle over freedom and ideology, writes Michael B. Greenwald. How can the US lead the world in a different path?

Crypto mining players continue to flee China as latest ban kicks in

China’s earlier efforts to eradicate mining may not have been as effective as the government had hoped, but Friday’s announcement is having an impact.
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The curious timing behind China’s thunder and lightning at crypto

China assaulted crypto with a new ferocity just as Bitcoin options expired and Evergrande escaped death. Coincidence? Ben Caselin of AAX lays out the clues.

Crypto funds see 6th consecutive week of inflows led by Bitcoin: CoinShares data

Cryptocurrency investment products saw inflows of US$95 million last week, with total inflows over the past six weeks of US$320 million, according to digital assets fund manager CoinShares. Fast facts “The continued inflows suggest the recent headwinds for digital assets, such as the widened China ban, were seen as buying opportunities for investors,” wrote CoinShares […]

Binance to restrict Singapore users from buying crypto and spot trading on Binance.com

Amid growing regulatory heat, Binance — the world’s largest cryptocurrency exchange by trading volume — will restrict users in Singapore from buying cryptocurrencies using fiat, spot trading and liquid swaps on its main Binance.com platform starting Oct. 26, according to a company announcement. Fast facts Binance is advising Binance.com users in Singapore to cease all […]

Damage to South Korean crypto market limited despite mass closure, regulator says

South Korea’s virtual asset industry is expected to withstand major regulatory reconstruction

China’s crypto crackdown: What it means

China’s crypto crackdown and what it means

FTX CEO: This is the canary in China’s crypto ban coal mine

Amid China’s new clampdown, why is DeFi surging and the RMB-to-crypto market important? Sam Bankman-Fried analyzes what it all means and why FTX is leaving Hong Kong for a new home.

Chinese crypto exchange Huobi looks to the world as China shuts the door on crypto

Huobi’s diversified businesses outside of China reached nearly 70% in terms of trading volumes, and have been on the rise, its co-founder tells Forkast.News.

Industry players scramble, evaluate options as China bans all crypto transactions

China’s intensified crackdown on cryptocurrency leaves service providers looking to stay compliant with Friday’s abrupt announcement.
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Ban or no ban, Indian crypto industry is thriving

India’s crypto industry will grow over 200% to reach $241M by 2030, a new study says.

China’s crypto ban: what you need to know

How is China’s latest clampdown on crypto different from its previous bans — and how do authorities plan to catch the scofflaws? Henri Arslanian of PwC breaks it down.

Crypto markets shrug off China’s latest saber-rattling

Is China’s influence over Bitcoin and the global crypto market waning? Chinese exchanges get a thrashing as decentralized exchanges get happy on clampdown news.
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Why DeFi holds the key to metaverse success

A profound shift is underway in online culture, writes Anndy Lian of BigOne Exchange. Here’s how decentralized finance might one day power the NFT and metaverse economy.

The9 teams up with Polygon and Protocol Labs on new NFT platform, game projects

The9 Ltd., a Chinese gaming company that pivoted earlier this year to cryptocurrency mining — along with Polygon and Protocol Labs — are forming an ecosystem collaboration on The9’s non-fungible token (NFT) platform NFTSTAR and GameFi play-to-earn projects. Fast facts The company said in a statement released on Thursday that NFTSTAR and The9’s GameFi projects will […]

Crypto market is shaken as China declares all crypto transactions illegal

Bitcoin and Ethereum prices fall after Beijing intensifies crackdown on crypto trading, mining.
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D-day for Korean crypto exchanges; e-CNY project speeds up

D-day for Korean crypto exchanges meanwhile e-CNY project speeds up

BIT Mining invests in crypto site in Ohio to expand U.S. operation

The cryptocurrency mining industry is attracting more investment money. Hong Kong-headquartered crypto miner BIT Mining said it had entered into an agreement to jointly invest in a crypto mining data center in the U.S. state of Ohio, with access to power capacity of up to 85 megawatts. Fast facts The development of the Ohio mining […]

How Southeast Asia flowered into a global crypto hub

Until recently, most Southeast Asians had no internet. Now the region is abloom with blockchain innovation. How did they do it?

81 of top 100 companies use blockchain technology, Blockdata research shows

Survey shows growing consensus on adoption, investment and use cases. ‘Blockchain is here to stay.’

Crypto unicorn Amber Group eyes listing in U.S. despite lack of regulatory clarity

Amber Group, a Hong Kong-based crypto financial services company, is eyeing a direct listing in the U.S. within the next two years, Amber Group co-founder and CEO Michael Wu told the South China Morning Post in an interview. Fast facts Founded in 2017, Amber Group propelled to unicorn status this year following its US$100 million Series […]

South Korea’s crypto crackdown: What you need to know

The country’s crypto industry has been turned upside down with stricter operating rules that take effect tomorrow.

VC names jump in on NFTs; Crypto investors brush off Evergrande

VC names jump in on NFTs meanwhile crypto investors brush off Evergrande

After Evergrande, will virtual real estate be the next alternative asset class?

The property market is increasingly expensive and out of reach for today’s younger generation. Digital land sales may hit home with some buyers.

Investors get ready, India crypto tax in the works

The Indian ministry of finance has formed a panel to examine how income from crypto investments can be taxed, according to a report by Inc42. Fast facts The panel will evaluate whether crypto income can be taxed as capital gains or if it requires the formation of a new category. The committee is required to […]