Upbit submits compliance report: China’s e-CNY trials broaden
Led by Ethereum rivals, crypto prices are in an upswing with over $2.1 trillion in total market cap. Is this the start of another crypto bull run?
Cryptocurrency and other digital assets are expected to rival or displace fiat currencies within the next decade, according to Deloitte’s 2021 Global Blockchain Survey. Fast facts More than three quarters of the 1,280 executives and practitioners surveyed by Deloitte, the global consulting, tax services and auditing firm, think that digital assets “will serve as a […]
The9 Ltd., a Chinese gaming company that only a few months ago pivoted its business to crypto mining, is setting up another joint venture in Kazakhstan as it ramps up its mining operations in the Central Asian nation that shares a border with China. Fast facts Nasdaq-listed The9 has signed an investment memorandum through a subsidiary […]
XREX’s fundraise reflects Taiwan’s ambition to be part of fintech and blockchain innovation in spite of the island’s strict banking regulations.
Binance Singapore today announced the appointment of Richard Teng, former chief regulatory officer of the Singapore Exchange (SGX), as chief executive, bolstering its leadership ranks with former regulators while battling growing regulatory woes around the world. Fast facts Teng was CEO of the Abu Dhabi Global Market for six years before stepping down in March. […]
The ideal metaverse is open and interoperable, says Jamie Burke of Outlier Ventures. Here’s how blockchain gaming and NFTs are closing in on that future.
Steelmaker Ansteel Group and lithium battery producer Tianneng are the latest companies to make use of blockchain in accordance with China’s national strategy.
Beset by legal and regulatory woes around the world, Binance — the world’s largest cryptocurrency exchange by trading volume — today announced that it is implementing mandatory know-your-customer (KYC) with immediate effect as it steps up its anti-money laundering (AML) compliance. Fast facts All new Binance users are now required to complete “intermediate verification” — which […]
Coinbase launches in Japan while Binance users take legal action
Despite a looming compliance deadline, currently there are no crypto exchanges in South Korea that meet the new government reporting requirements to continue operating, according to financial authorities. Fast facts The Financial Services Commission (FSC) revealed through a press release that none of the domestic cryptocurrency trading platforms have successfully complying with the nation’s new […]
Finder.com CEO Fred Schebesta is offering AU$5 (US$2.85) worth of Bitcoin to every Australian who is fully vaccinated against Covid-19. Fast facts Announcing the plan on Sydney radio this week, the self-made millionaire said he was looking for a way to contribute to the vaccination effort and thought this could be a way to help. […]
The largest cryptocurrency exchange in the U.S. has partnered with one of Japan’s largest banks to gain market entry. What does the move say about the Japanese market as the industry is rocked by yet another crypto exchange hack?
The Ontario Securities Commission (OSC) is seeking to bring an enforcement action against Aux Cayes Fintech Co. Ltd., which operates the OKEx platform, for allegedly violating Ontario securities law, according to a statement. Fast facts According to the statement of allegations filed by the OSC’s enforcement team on Aug. 18, Seychelles-incorporated Aux Cayes — which […]
TRON founder Justin Sun’s social media account on Weibo, China’s Twitter-like microblog platform, appears to have been blocked again, along with the accounts of several other cryptocurrency-related interests. Fast facts TRON is a blockchain with a cryptocurrency native to the system founded by Sun in 2017. Sun, 31, has been active on social media, and […]
Cardano’s Alonzo upgrade is fueling ADA’s price growth into top-3 cryptocurrency. Major crypto players are now also signaling bullishness on Cardano.
China continues its crackdown on certain illegal social organizations, as authorities shut down the website and social media accounts of the China Blockchain Application Center — a organization once led by some of the nation’s most prominent crypto industry leaders, state media China National Radio reported yesterday. Fast facts The China Blockchain Application Center was […]
Crypto traders who suffered losses on Binance due to tech outages are turning to arbitration and crypto litigation finance.
Blockchain investment goes green while Court says bitcoin legally protected
The Bank of Thailand today published the results of its retail central bank digital currency (CBDC) study and public survey, which the central bank says will guide the development of the country’s CBDC pilot test. Fast facts The Bank of Thailand underscored that a CBDC for the general public “must not adversely affect monetary policy […]
A district court in Shanghai has ruled that Bitcoin is virtual property, not a currency that is allowed to circulate, according to a statement released earlier this week. Fast facts A Minhang district court in Shanghai stated this week that it heard a case in which a plaintiff purchased Bitcoin mining machines from a defendant […]
The central bank of the Netherlands has issued a warning that Binance — the largest cryptocurrency exchange in the world by trading volume — is illegally operating in the country. Fast facts Binance is providing crypto services in the Netherlands without the required legal registration with De Nederlandsche Bank (DNB), according to the regulator. “This […]
In what will likely be a relief for many Salvadorans, El Salvador’s finance minister said the use of BTC will remain “totally optional” and businesses will not be sanctioned for not using it when the country’s controversial BTC law comes into effect on Sept. 7, reports Yahoo News. Fast facts The country’s adoption of BTC […]
Poly Network offers hacker a job meanwhile NFTs support Afghan families
Top blockchain and crypto news: A darkweb stain is scrubbed away. Solana’s moment in the sun. Alibaba huddles with Tencent.
Money laundering token tracer developed using AMLBot application programming interface was suspended within eight hours of public exposure.
Operating costs and crypto bear market suck up cash after former lottery operator bets on digital assets
Asia is now tops in the world in cryptocurrency adoption. Vietnam, India and Pakistan are now the top three countries in the world in crypto use — and other Asian countries aren’t far behind, according to Chainalysis’ 2021 Global Crypto Adoption Index published today. Fast facts Thailand, China and the Philippines also ranked in the […]
Bybit, a cryptocurrency exchange based in Singapore, announced today a multi-year partnership with popular esports team NAVI (“Natus Vincere”), which will display Bybit’s logo on NAVI’s jerseys as well as charity initiatives, school projects, and anti-hate and anti-bullying campaigns. Fast facts “The Covid-19 pandemic has changed many established conventions in a number of human experiences,” […]
Binance — the world’s biggest cryptocurrency by trading volume — today announced the appointment of Greg Monahan, a former U.S. Treasury criminal investigator, as its global anti-money laundering officer, according to a company statement. Fast facts Monahan’s appointment comes as Binance seeks to bolster its compliance efforts amid increasing scrutiny from regulators around the world — […]
Following a few years of inactivity, the Dogecoin Foundation is being reestablished with Ethereum co-founder Vitalik Buterin serving as the organization’s “blockchain and crypto adviser,” according to an announcement posted Tuesday on the foundation’s website. Fast facts Originally founded in 2014, the non-profit organization aims to support the Dogecoin ecosystem and community with a particular […]
Union Bank of the Philippines and Hex Trust, a Hong Kong-based digital asset custodian, today announced that the bank was partnering with Hex Trust to provide digital asset custody services to it as it enters the digital asset sector. Fast facts As part of the collaboration, Hex Trust will provide digital asset custody as an […]
Notwithstanding Iron Finance’s collapse, stablecoins can play important roles for consumers and the economy, writes Julian Hosp of Cake DeFi.
India crypto bill awaits approval while Poly Network hack saga continues
If cabinet approves crypto bill by November, it could be introduced as early as parliament’s winter session.
Non-fungible tokens are taking the art and collectibles world by storm. But more valuable uses for NFTs lie just around the corner, writes Ilja Laurs of Dappscape.
Digital asset investment products saw outflows of US$22 million last week — the sixth consecutive week of outflows, according to CoinShares, Europe’s largest digital assets fund manager. Fast facts Total outflows for the past six weeks amount to US$115 million and mark the longest run of consecutive outflows since January 2018, CoinShares reported. However, the […]
Solana prices are soaring to all-time highs and SOL is now a top-10 crypto. In this Forkast.News explainer, learn why investors are heaping love on this Ethereum rival.
Solana hits all time high as GoSats launches bitcoin reward card
Asian nations are leading the world in retail crypto investment, according to a recent report by Finder.com, which found that of 27 countries surveyed, the top five were all in Asia. Fast facts Vietnam was by far the leader in crypto adoption, with 41% of respondents saying they owned at least one cryptocurrency. Indonesia and […]
Solana price hits new record and enters top 10, beating Uniswap, following launch of blockchain communication bridge Wormhole and sellout debut of Degenerate Ape NFTs.
While Delhi goes back and forth over a crypto ban, crypto’s huge growth potential in the world’s second most populous country is captivating American venture capital.
Poly Network recovers assets meanwhile Rario launches cricket NFT platform
Global investment in blockchain and cryptocurrencies leapt in the first half of 2021, with US$8.7 billion raised and 548 deals sealed, according to consulting firm KMPG’s latest Pulse of Fintech H1’21 report. Fast facts Global fintech investment in H1 2021 reached US$98 billion in 2,456 deals, compared to US$121.5 billion for the whole of 2020, […]
In a position seemingly at odds with the remainder of the country’s government, the Iranian National Tax Authority has proposed legalizing digital asset exchanges in order to better collect tax from them, according to local media outlet Eghtesad News. Fast facts The INTA also warned that imposing overly stringent regulation on the sector could have […]
Mawson Infrastructure Group, an Australian cryptocurrency mining company, has purchased an additional 17,352 ASIC Bitcoin mining machines from Chinese rig maker Canaan in a move to bolster its mining operations on its home turf and in the United States. Fast facts Mawson plans to deploy the additional machines — Avalon A1166s and A1246s — purchased […]
Argentinian President Alberto Fernandez has indicated he is open to adopting Bitcoin as legal tender and a central bank digital currency, according to a media report yesterday, just two days after the head of the country’s central bank, Miguel Pesce, described cryptocurrencies as a threat to economic stability. Fast facts During an interview with media outlet Caja […]
Poly Network assets returned also OKEx lists Baby Doge
TZ APAC, an entity supporting the Tezos blockchain ecosystem in Asia-Pacific, this week announced a “strategic commitment” to the region as it bolsters its efforts to grow the Tezos ecosystem. Fast facts TZ APAC intends to deploy capital and resources across the region towards business development, marketing and project management to drive adoption of the […]
Crypto exchanges, or VASPs, are coming under increasing regulation. Complying with the Financial Action Task Force’s travel rule will be one of them.
DBS Vickers, the brokerage arm of Singapore’s DBS Bank, today announced that it has received in-principle approval from the Monetary Authority of Singapore to provide digital payment token services in Singapore as a major payment institution under the Payment Services Act. Fast facts DBS Vickers’ notification follows that of Australian cryptocurrency exchange Independent Reserve, reported […]
The total market capitalization of cryptocurrencies has just broken the milestone of US$2 trillion for the first time since May, reflecting a bullish trend since earlier this month. Fast facts On Wednesday night Hong Kong time, the total crypto market cap reached US$2.007 trillion and stood at US$2.002 trillion on Thursday at noon, according to […]
Amid a surge in the price of Dogecoin, Seychelles-based crypto and derivatives exchange OKEx has listed Baby Doge Coin — a new cryptocurrency “created by fans of of the widely popular Dogecoin” — for spot trading, according to a company news release. Fast facts OKEx’s listing had a brief positive impact on Baby Doge’s price […]
With Ethereum 2.0 still in development, rival blockchains like Cardano, Binance Smart Chain, Solana and Polkadot are hot on Eth’s tail. Who might prevail, and why?
Largest hack in DeFi history while ADA hits two month high
Top blockchain and crypto news: NFT wave buoys OpenSea. Are dollars and sense a lifeline for Tether? Tencent gets a target on its back.
Poolin, a major mining pool in China, has set sail for America. ‘Large players are all over the U.S. now looking for deals.’
Are DAOs and decentralization always beneficial for the group or the user? Antoni Trenchev of Nexo urges you to think again.
Impact of one of the biggest heists in the industry looks set to be mitigated as hackers agree to return funds.
After nearly a year under investigation, crypto exchange and derivatives trading platform Bitmex has agreed to pay as much as US$100 million to settle charges brought by the U.S. Commodity Futures Trading Commission and the Financial Crimes Enforcement Network, according to a company blog post. Fast facts Alex Höptner, BitMEX’s CEO, told Forkast.News in a […]
As Cardano’s Alonzo Purple upgrade launches and the full roll-out of smart contract support is teased, the price of ADA — the native cryptocurrency of the Cardano blockchain network — surged more than 20% in the past 24 hours. ADA was trading at US$1.71 at press time — its highest in over two months, according to […]
K-pop superstars Brave Girls, Se7en and A.C.E. are among the latest to jump on the non-fungible token bandwagon. Are fans buying it?
Despite strong lobbying attempts from the crypto industry for last-minute amendments, the Biden administration’s US$1 trillion infrastructure bill passed the Senate last night with heightened tax reporting requirements for crypto “brokers” and possible ramifications for crypto miners, as Yahoo News reports. Fast facts A compromise amendment requiring unanimous consent to be added to the bill […]
Hong Kong artists embrace NFTs. NFT’s to become must-have merchandise for K-Pop fans. And an Indonesian resort offers NFT timeshares. We’ll have more on that story — and other news shaping the cryptocurrency and blockchain world — in this episode of The Daily Forkast, August 10th. Transcript Welcome to The Daily Forkast, August 10th 2021. […]
Despite speculation that the NFT market is cooling, OpenSea continues to post record transaction volumes, and Hong Kong artists are getting in on the action.
CoinDCX, an Indian cryptocurrency exchange, has become the country’s first crypto unicorn with a US$90 million Series C fundraise, the company announced today. The funding was led by Facebook co-founder Eduardo Saverin’s B Capital. The fresh funding pegs CoinDCX’s valuation at US$ 1.1 billion. Fast facts Founded in 2018, CoinDCX offers a range of crypto […]
Despite a recent recovery in crypto prices, digital asset investment products last week saw outflows of US$26 million, according to CoinShares, Europe’s largest digital asset fund manager. It was the fifth consecutive week in which institutional money flowed out of cryptocurrencies, mainly Bitcoin. Fast facts Bitcoin — the largest cryptocurrency by market value — bore […]
After hovering aroud the US$35,000 mark through most of June and July, Bitcoin’s price has started rising again this past month. In the past 24 hours, Bitcoin’s price broke US$45,000 for the first time since mid-May amid the market-wide crash from the historic highs in April, according to data from CoinMarketCap. Fast facts Conversely, gold […]
Cryptocurrency platform Poloniex has agreed to pay more than US$10 million to settle charges for operating an unregistered online digital asset exchange, according to an announcement by the U.S. Securities and Exchange Commission (SEC). Fast facts According to the SEC’s order, Poloniex violated securities laws from July 2017 to November 2019 as the company did […]
Unocoin offers bitcoin vouchers as Alonzo upgrade onboards users
Several cryptocurrency payment methods exist around the world, but new service is the first major one of its kind in India.
A landmark US$1 trillion infrastructure bill moved one step closer to becoming law on Sunday, notably without carve-outs for cryptocurrency miners and network validators. What does it mean for the industry?