Survival race of SK exchanges; Ethereum powers digital passports in HK | The Daily Forkast
50 crypto exchanges apply for ISMS in South Korea while Hong Kong sees the birth of a blockchain passport for Covid vaccinations.
Bitcoin bounces back. Criminals choose crypto. Chinese mining redoubt faces scrutiny.
Top blockchain and crypto news: Bitcoin finds fresh favor in Global South. Why would hackers demand a Bitcoin ransom? Chinese miners eye Yunnan probe.
The internet paradigm shift is here: Are you prepared for Web 3.0?
Permissionless, open source and decentralized, Web 3.0 will transform computing and data storage. Maria Paula Fernandez of Golem Network explains how.
BitDAO raises US$230M with Peter Thiel, VCs to drive DeFi adoption
BitDAO — a new decentralized autonomous organization that aims to promote and propel the mass adoption of open finance and the decentralized tokenized economy — has announced the completion of a US$230 million private sale.
Diginex and crypto exchange EQUOS rebrand as EQONEX
Nasdaq-listed Diginex, a Singapore-based digital asset financial services company, today announced a rebranding of its businesses, including the EQUOS cryptocurrency exchange, as EQONEX.
South Korean crypto exchanges race to comply with strict new rules
Fifty South Korean crypto exchanges have applied for certification under the country’s Information Security Management System — the first step in meeting stringent new crypto exchange regulations.
Coinbase Pro adds Shiba Inu, Chiliz and Keep, causing prices to spike
Coinbase will add Shiba Inu, Chiliz and Keep Network to its professional trading platform with full trading beginning at 9am PT if liquidity conditions are met.
Court denies SEC request for info on Ripple’s recent XRP transactions
A judge has denied the U.S. Securities and Exchange Commission’s request for documents related to Ripple’s XRP transactions and lobbying efforts that took place after the SEC filed its lawsuit last December, according to a new legal filing. Fast facts: “As discussed in the Court’s earlier Opinion and Order denying access to Ripple’s privileged communications, […]
Yunnan mining ban clarified; Korean exchanges start ‘coin thinning’ | The Daily Forkast
Chinese authorities provide more details on its notice issued to the local mining industry while South Korean exchange start ‘coin thinning’.
Chinese province of Yunnan puts crypto mining under the microscope
Following rumors of a possible ban on cryptocurrency mining in the province last week, its energy regulator has clarified an approach to the industry that looks set to rein in rogue operators.
Beyond the NFT hype: Why NFT technology is flawed and buyers must beware
What does it mean to own an NFT, and why are some NFTs vanishing? Alexander Hobbs of Zenotta explains the weaknesses in NFTs’ underlying technology.
Thailand tightens rules for crypto exchanges and bans meme, fan, NFT tokens
Thailand’s securities regulator has announced new rules for cryptocurrency exchanges in the country, including a ban on utility tokens and meme tokens.
Bitcoin mining difficulty drops twice in a row to new 2021 low
On June 14, the difficulty of Bitcoin mining fell 5.3%, the first time this year that there have been two consecutive downward adjustments.
African P2P Bitcoin trading roars ahead of other regions
Africa has emerged as the region with the highest growth in P2P Bitcoin trading volume over the past six months.
Court gives Ripple execs go-ahead to obtain XRP info from 16 foreign exchanges
A judge overseeing discovery in the U.S. Securities and Exchanges Commission’s lawsuit against Ripple Labs has granted the SEC’s request to extend deadlines by 60 days as well as a request by co-defendants Ripple CEO Brad Garlinghouse and executive chairman Chris Larsen to obtain information from 16 cryptocurrency exchanges outside the United States. Fast facts: […]
Yunnan warns miners over power use; WazirX faces gov’t heat | The Daily Forkast
China’s crypto mining crackdown continues while Indian finance authorities probe one of the nation’s largest exchange WazirX.
Who’ll blink first in India’s crypto stand-off?
India’s central bank has clarified that cryptocurrencies are not illegal, but that does little to prevent lenders from refusing to provide crypto-related services.
What is yield farming in DeFi and how does it work?
One of DeFi’s hottest trends, yield farming can bring riches but is not for crypto beginners or those who can’t afford to lose. Forkast.News explains why.
As blockchain becomes widely used in banking, what are its security risks?
Blockchain provides greater data transparency and security than ever before, but the technology is not immune to cyber attacks and data breaches.
Huobi launches Blockchain Assets Center for token listings
Huobi Group has announced the launch of a Blockchain Assets Center to provide a standardized, streamlined process for projects seeking to list on its cryptocurrency exchange, Huobi Global.
SK govt assists crypto exchanges; Aus firm accepts crypto for rent | The Daily Forkast
South Korean government is holding on-site visits to help crypto exchanges get regulated while an Aussie business wants crypto for rent.
Indian crypto exchange WazirX in probe over US$382M in suspect transactions
India’s Enforcement Directorate has issued a show cause notice to cryptocurrency exchange WazirX for alleged foreign exchange violations involving 27.9 billion rupees (US$382 million).
How the layer 2 race is scaling Ethereum before ETH 2.0
While the world waits for Eth 2, blockchain developers like Enya.ai and OMG Network are trying to solve Ethereum’s scalability issues via layer 2.
Twitter chief says integration of BTC Lightning Network “a matter of time”
Twitter’s founder and CEO says the integration of Bitcoin layer-2 payments — the Lightning Network — into the social media platform may be on the horizon.
Some cryptos unfit for payment, says Chinese central bank ex-governor
A former governor of the People’s Bank of China said today that some cryptocurrencies have forfeited their opportunity to return to use as methods of payment.
Foreign crypto exchanges eye India despite regulatory uncertainty
Despite regulatory uncertainty over cryptocurrency trading in India, some of the world’s largest crypto exchanges are looking to enter the market.
Bitmain rallies crypto miners to ponder options as industry eyes China exit
Chinese crypto mining rig maker Bitmain is reportedly set to meet with miners and industry participants next week to discuss relocating mining operations overseas.
Australian serviced office firm to accept rent in crypto
Australian serviced office firm Business Hub will accept cryptocurrency as payment for rent on serviced office space and other business services as of July 1.
Singapore’s GIC takes 8% stake in HK’s digital asset company BC Group
GIC, Singapore’s sovereign wealth fund, is investing in BC Group—the parent company of OSL, Hong Kong’s first licensed cryptocurrency exchange.
Bitcoin hot in Singapore; China crypto mining bans widen | The Daily Forkast
El Salvador’s adoption of Bitcoin has the world buzzing. Can Singapore be next? China mining crackdown continues.
Hashrate drops as Chinese crypto mining ban extended to more provinces
Cryptocurrency mining prohibition in Xinjiang and Qinghai follows Inner Mongolia ban.
Coinbase partners with 401(k) provider ForUsAll on crypto retirement plans
Retirement investment platform ForUsAll is partnering with Coinbase to expand access to cryptocurrencies through the U.S. 401(k) pension scheme.
Crypto wallet firm Ledger closes US$380M funding round
Paris-based crypto hardware wallet provider Ledger announced today the completion of a US$380 million series-C fundraise.
Saudis lead $30M Series A for China nationwide blockchain network manager
Beijing-based Red Date Technology — the face of China’s ambitious nationwide blockchain service network — receives a big investment boost.
U.S. millennial crypto fans want to spend their coins like cash, study shows
Ninety-three percent of millennial current or former cryptocurrency holders in the U.S. would consider using their digital coins for everyday purchases, according to a recent survey.
Asian crypto exchange Kikitrade wins funds from UK billionaire Alan Howard
Kikitrade today announced a US$12 million fund raise with investment from British hedge fund billionaire Alan Howard to accelerate its growth.
China’s biggest crypto exchanges blocked from internet searches, social media
Huobi, OKEx and Binance have been blocked by the country’s most popular internet search engines and social media platforms.
Ripple: Delaying SEC lawsuit would pose ‘existential threat’ to XRP
In a new court filing, Ripple describes the damage the SEC lawsuit has already done to XRP and the payment company’s now-frozen US business.
Moonstake ties up with Uzbekistan exchange in blockchain push
Staking service provider Moonstake has partnered with UzNEX to provide blockchain consulting services in Southeast Asia and the Middle East.
New York State passes bill restricting Bitcoin mining
A bill restricting the granting of crypto mining permits on environmental ground has passed the New York State Senate.
Hong Kong eyes CBDC; Aussie Millennials favor crypto vs. real estate | The Daily Forkast
Hong Kong looks to explore CBDC feasibility as Australian millennials favor investing in crypto over traditional assets.
El Salvador’s Bitcoin experiment. Ethereum’s steady rise. Free money in China.
Top blockchain and crypto news: El Salvador bets on Bitcoin as national currency. ETH gains ground on BTC. Beijing dishes out digital yuan in latest trials.
Iranian president calls for crypto regulation to mitigate risks
Iran wants to “preserve and protect national interests” in the field of digital currencies and cryptocurrencies, Iranian President Hassan Rouhani says.
El Salvador’s Bitcoin law wins vote, set to shake up BTC investments everywhere
Now that Salvadoran President Nayib Bukele’s Bitcoin-as-legal-tender bill is almost reality, what will it mean for BTC investors around the world?
Miami property deal breaks crypto real estate record
A Miami property has set a record for the highest price paid in cryptocurrency in a real estate transaction — US$22.5 million.
Chinese Bitcoin investors among most profitable globally
Bitcoin investors in China saw greater returns in 2020 than almost any other nation — second only to the US.
Australian crypto exchange Bitunivex plans to go green
Australian crypto exchange Bitunivex.com has announced plans to offset its carbon footprint by investing in green crypto initiatives.
UNICEF invests in blockchain startups for financial inclusion
UNICEF Venture Fund is awarding up to $100,000 to blockchain startups, including India’s GovBlocks, in its latest funding round. Here are the other projects.
India crypto feud continues; Korea mining thief busted | The Daily Forkast
Regulatory uncertainty pushes India’s crypto industry towards self regulation as a secret Ethereum miner gets busted in Seoul Arts Center.
KuCoin exchange in Ontario regulator’s sights after law breaches
The Ontario Securities Commission is set to take enforcement action against two companies behind the cryptocurrency exchange KuCoin for violating the province’s securities laws.
How NFTs are redrawing Asia’s art scene from artists to galleries
From Phillips auction house in Hong Kong to Art Fair Philippines, non-fungible tokens are redefining how Asia appreciates, buys and profits from art.
World Economic Forum offers DeFi ‘toolkit’ for policymakers
In collaboration with Wharton business school, WEF releases a toolkit for governments to consider the opportunities and risks of decentralized finance.
Ripple asks court to ignore 70+ SEC actions against cryptos before XRP
Did Ripple have ‘fair notice’ that SEC might deem the XRP a security? Ripple calls report on SEC’s prior anti-crypto enforcement actions ‘misleading.’
Indian crypto exchanges form self-regulatory body
Crypto exchanges in India have partnered with the Internet and Mobile Association of India to form a self-regulatory body.
Bitcoin worth millions recovered from Colonial Pipeline ransomware attack
Millions of dollars worth of Bitcoin paid to ransomware hackers who shut down the main fuel pipeline on the U.S. East Coast last month has been recovered.
Take that, Miami: Hong Kong hosts its own Bitcoin meet-up
As 50,000 Bitcoiners and crypto superstars whoop it up at Miami’s Bitcoin 2021 fest, a smaller group of BTC fans hold their own at the Fringe in Hong Kong.
Four in 10 Australian millennials would buy crypto over real estate
Nearly 40% of Australians born between the early 1980s and mid-1990s would rather invest in cryptocurrencies than real estate, according to a nesurvey.
Crypto exchange Fasset expands to Southeast Asia
Cryptocurrency exchange Fasset has received three licenses from the Labuan Financial Services Authority in Malaysia for business operations in the country.
XRP sees robust institutional inflows; Ethereum ‘altcoin of choice,’ report says
XRP last week saw inflows of US$7 million into investment products, the most since April, according to CoinShares.
Chinese crypto social media crackdown; Seoul tightens rules on crypto | The Daily Forkast
Chinese social media Weibo bans crypto accounts as employees of South Korean crypto exchanges can no longer trade on their own platforms.
Binance launching NFT platform with ‘100 Creators’ campaign
Binance today announced a “100 creators” campaign featuring creative talents from around the world as part of the launch of its non-fungible token marketplace on June 24.
South Korean crypto exchange executives face ban from own platforms
South Korea’s Financial Services Commission has announced plans to ban executive employees and exchange operators from trading on their own platforms, prompting a chorus of complaints. Fast Facts: The FSC’s Financial Intelligence Unit recently met with officials from cryptocurrency exchanges to explain upcoming amendments to the Act on Reporting and Use of Certain Financial Transaction Information, […]
NortonLifeLock bids to turn users into home Ethereum miners
Users of cybersecurity product NortonLifeLock will soon be able to mine Ethereum on their home computers through a new feature named Norton Crypto.
Weibo blocks crypto accounts as Chinese clampdown continues
Microblog platform Weibo has blocked more than 30 influential Chinese cryptocurrency-related accounts amid a series of actions by Beijing against crypto mining and trading.
Australia’s first Bitcoin capital growth fund gaining interest
Australia’s first capital growth fund to offer institutional exposure to BTC has announced its received inquiries from some of the country’s largest companies.
What blockchain games like Alien Worlds say about life outside metaverses
In a special Q&A, Sarojini McKenna of Alien Worlds discusses play-to-earn gaming, digital assets like Trilium, and lives increasingly lived inside virtual worlds.
How serious is the threat of Bitcoin mining to the environment?
Is Bitcoin’s carbon footprint a growing risk to Earth, or is it a red herring? On this year’s United Nations World Environment Day, crypto mining is a hot topic.
HK’s Bitcoin Meetup ahead of Bitcoin 2021; Banksy work offered for crypto | The Daily Forkast
Hong Kong arranged a Bitcoin gathering ahead of Bitcoin 2021 Conference in Miami as Phillips auction house offers Banksy’s work for crypto.
Criticisms of Tether’s reserves are unfounded, says Bitfinex CTO
After Tether’s legal settlement with New York, USDT’s growth is exploding—dispelling concerns over Tether’s reserves, says Bitfinex CTO Paolo Ardoino.
Prominent Chinese economist urges public to ‘avoid confusion’ between digital currency and cryptocurrencies
It is important to distinguish between developing a digital currency for currency digitalization and digitalization of assets or cryptocurrencies so that China can be more focused on preventing risks in the financial sector, said Fan Gang, a Peking University professor and a prominent advocate in China for economic reform. Fast Facts: In a keynote speech […]
Regulators in Hainan warn of illegal crypto fundraising schemes
Regulators Hainan province have issued a warning against illegal fundraising schemes using crypto or blockchain..
UK watchdog: Crypto firms fall short on anti-money laundering rules
Many of Britain’s crypto firms are failing to meet required anti-money laundering and counter-terrorism financing laws, says the country’s watchdog.