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BSN to launch South Korea portal; Canaan secures huge rig order

China’s BSN to launch in South Korea portal as Chinese Canaan secures huge mining rig orders

Genesis Digital Assets signs deal for 20K mining machines to fuel growth in North America, Nordic region

The order follows a June purchase by Genesis of 10K machines from China-based Canaan, one of the world’s biggest Bitcoin mining rig makers

Australian consumer protection body issues warning to crypto investors

The Securities and Investments Commission warned against investing in digital-asset financial products. Some say the warning lacks specifics.

El Salvador creates $150M fund to assist with BTC adoption

A week out from El Salvador’s adoption of BTC as legal tender, the country’s legislative assembly has approved a US$150 million trust to help facilitate exchange between BTC and the U.S. dollar – the nation’s current official currency, according to a report by local newspaper El Diario de Hoy. Fast facts Last week, Forkast.News reported […]

Dogecoin spawns more pups with Doge NFT split into tokens for resale

Dogecoin keeps spawning pups, and this time, it could be quite a litter. In yet another spinoff of the crypto industry’s biggest meme, fractionalized ownership of the non-fungible token (NFT) of the original Shiba Inu image that launched Dogecoin is up for sale today in the form of $DOGE tokens, Bloomberg reports. Fast facts Ownership […]

Singapore grants FOMO Pay the city-state’s first crypto license

FOMO Pay, a Singapore-based fintech company, announced today that it has obtained a license from the Monetary Authority of Singapore (MAS) to provide Digital Payment Token Service — the first such approval out of 170 applicants for the city-state that is rapidly becoming a global crypto hub. Fast facts FOMO Pay said it had been […]

China’s state-backed blockchain network to expand to South Korea

As its first international expansion, China’s Blockchain-based Service Network is launching a portal in Korea. Who are the key players, and where else in the world will BSN emerge this year?

FTX acquires LedgerX to expand into US crypto derivatives market

FTX US, the affiliate of Hong Kong-based crypto derivatives exchange FTX, on Tuesday announced that it was acquiring Ledger Holdings Inc., parent company of LedgerX, a digital currency futures and options exchange regulated by the Commodity Futures Trading Commission (CFTC). Fast facts LedgerX is a CFTC-regulated designated contract market (DCM), swap execution facility (SEF) and […]

MetaMask surpasses 10M monthly active users; Philippines, U.S. top users

MetaMask, a non-custodial wallet that allows users to interact with the Ethereum blockchain and Ethereum-compatible networks such as Polygon, has seen its monthly active users surge over 1,800% in the past year to surpass 10 million, according to ConsenSys, an Ethereum blockchain software developer. Fast facts Alongside the explosive growth of the Ethereum ecosystem from […]

The9 launches NFT platform; HK SFC issues crypto warning

The9 launches NFT platform meanwhile HK SFC issues crypto warning

Some NFT creators and investors have a lucky number

A fascination with 8s could be related to the fact that the Chinese pronunciation of the number 8 or “Ba” is similar to that of “發” or “Fa,” which stands for wealth and prosperity.

SEC wants to watch videos of Ripple’s company meetings

The battle over discovery escalates between SEC and Ripple over what might have been said about the XRP at Ripple’s all-hands meetings since 2014. Will there be popcorn?

Philippines may classify Axie Infinity as a company running a payment system

The hot play-to-earn token game Axie Infinity is under increased scrutiny from Philippines tax  authorities. The country’s central bank said it is closely monitoring how players use game tokens to decide whether to classify and regulate Axie’s parent company as an entity that runs payment systems. Fast facts The central bank, Bangko Sentral ng Pilipinas, […]

Crypto exchange Zipmex raises $41M in Series B round for aggressive Asia expansion

Zipmex, a Singapore-based cryptocurrency exchange, has completed a US$41 million Series B funding round as it innovates toward a “full 360 digital banking offering,” the company said during a media briefing today. Fast facts Investors in Zipmex’s Series B funding round indicate increasing institutional buy-in to the digital assets industry. The investors include Krungsri Finnovate, […]

Why Facebook’s Novi wallet could strike gold in SE Asia

Facebook’s Novi is ready to launch. Here’s why the Diem crypto wallet might find an especially warm welcome in places like the Philippines and Malaysia.

Crypto is going mainstream—and the likes of Paypal and Snoop Dogg are leading the way

Though crypto is not yet part of daily life, it may be a matter of time, writes Simon Yu of StormX. Here are the keys to the industry’s long-term success.

Chinese gaming company The9 expands into NFT business

The9 Ltd., a Chinese gaming company that pivoted earlier this year to cryptocurrency mining, unveils plans to get into non-fungible token business, reflecting the company’s ambition to ramp up its blockchain-based operation. Fast facts Nasdaq-listed The9 has announced that its Singapore-based subsidiary NFTSTAR Singapore Pte. Ltd. will launch a NFT trading and community platform NFTSTAR […]

Ethereum, Cardano, Solana lead institutional crypto inflows: CoinShares

Cryptocurrency investment products saw a second consecutive week of inflows of US$24 million last week, despite the eighth consecutive week of outflows from Bitcoin of US$3.8 million, according to CoinShares, Europe’s largest digital assets fund manager. Fast facts Total digital assets under management (AUM) across all digital asset fund providers last week stood at US$56.86 […]

Hong Kong regulator warns investors against digital tokens and ICOs

Hong Kong’s Securities and Futures Commission on Monday warned that digital tokens and initial coin offerings (ICOs) could be involved in unauthorized collective investment schemes (CIS) and urged investors to exercise extreme caution. Fast facts The SFC’s warning comes as the regulator added two property-related CIS investment projects and the “LABS Security Token” to its […]

Korea’s love for crypto continues; Crypto exchange Bilaxy hacked

Korea’s love for crypto continues while Crypto exchange Bilaxy hacked

More teens in South Korea buy crypto despite strict pending regulations

New data shows increasing deposits made by teens in virtual currency despite new rules that may close down many platforms in less than a month.

Hong Kong-based crypto exchange Bilaxy hacked; over $21M loss

The 20th hijack this month, after Poly Network, Solend and Liquid.

Solana crosses $100 price level

As Bitcoin and Ethereum drop after a quick ascent, the surge of Solana (SOL) continues. SOL hit a new all-time high of US$102.07 today, with its market cap reaching over US$29 billion. The world’s eighth largest cryptocurrency has been consecutively hitting new all-time highs in the past four days. Fast facts The market cap of […]

Korea’s new FSC chair speaks; Axie Infinity to work with governments

Korea’s new FSC chair speaks meanwhile Axie Infinity to work with governments

S. Korea crypto exchanges told no grace period for do-or-die reporting deadline

A looming deadline for crypto exchanges in South Korea to either meet new compliance requirements or face closure will not be extended, the country’s newly nominated chief financial regulator says. The rules are designed to improve investor protection and transparency in crypto transactions, but many exchanges have been calling for a longer grace period. Fast […]

How Bitcoin and Ethereum are rekindling with equities

What is the relationship between crypto assets and stock prices? An analysis week’s market trends.

Solana price hits all-time high as Bitcoin, crypto market dip

Bitcoin’s price dropped following a quick ascent past US$50K, but analysts say the rally is set to continue. Meanwhile, Solana again defied the overall market to post a new price high.

Crypto mining rig giant Bitmain confirms TSMC chip price jump

China-based Bitmain, one of the world’s biggest producers of cryptocurrency mining rigs, confirmed in a social media post a 20% price hike in the chips it buys from Taiwan Semiconductor Manufacturing Company (TSMC). Fast facts Bitmain said on Thursday in a WeChat post that TSMC had informed all clients, including the mining rig maker, that […]

Websites can now have ETH sent directly to their domain name

Anyone who owns a website is now able to receive crypto payments directly to their domain name, as Ethereum Name Service announces full integration with the centralized web. Fast facts Making the announcement on Twitter Friday morning, the new upgrade will bring interoperability between the centralized web and the blockchain-based ENS system. The internet currently […]

Former India central bank chief says cryptocurrencies have a ‘potential future’

While India’s parliament considers a potential nationwide ban on all private virtual currencies, a former governor of India’s central bank says some cryptocurrencies have a “potential future” in the global economy. Raghuram Rajan, ex-governor of India’s central bank and former chief economist at the International Monetary Fund, made his comments at a Reuters Global Markets […]

Korea reveals crypto exchange ‘Death Note’: DeFi investment booms

Korea reveals crypto exchange ‘Death Note’: DeFi investment booms

Taiwan Semiconductor chip price increase on the way

Amid global supply shortage, the move could impact clients such as mining rig maker Bitmain, which sources TSMC’s wafers for its Antminer S19 series.

Chinese tech company Meitu reports $17M loss on Bitcoin holdings in 1H 2021

Meitu, a Hong Kong-listed Chinese technology company best known for its popular beauty apps, saw an RMB111,907, 000 (US$17.3 million) impairment loss on its Bitcoin holdings in the first six months of 2021, the company reported in its latest financial results. Fast facts According to Meitu’s Aug. 25 HKEX filing: “the decrease in fair value […]

Cardano Foundation partners with Coinfirm for AML/CFT compliance

In the latest from the world’s third-largest cryptocurrency, which has gone from strength to strength this month, the Cardano Foundation is partnering with blockchain analytics provider Coinfirm.io to ensure the network complies with the Financial Action Task Force’s guidelines. Fast facts In a company announcement this week, the Cardano Foundation said it would be using […]

Bitcoin ATM firms and Chainalysis form cooperative to protect public

Bitcoin ATM operators DigitalMint and Coinsource are joining blockchain analytics company Chainalysis to form the Cryptocurrency Compliance Cooperative (CCC). The mission of the CCC is to bolster compliance standards and protect consumers in the cash-to-cryptocurrency industry. Fast facts Leaders in the cash-to-crypto business say they are on the mission to create a safer environment for […]

Hacked crypto exchange Liquid secures $120M loan from FTX

While the funds stolen in last week’s cyberattack on Liquid are yet to be returned, the Japanese exchange has secured a US$120 million loan from fellow exchange FTX to cover losses. Fast facts Sam Bankman-Fried, the billionaire CEO of Hong-Kong based FTX, took to Twitter to make the announcement, saying he had always admired Liquid’s […]

UK’s Financial Conduct Authority: Binance has complied with requirements

Binance Markets Limited, the British affiliate of the world’s largest cryptocurrency exchange, is now compliant with the requirements that the U.K.’s Financial Conduct Authority imposed on the company in June, the FCA said Wednesday. Fast facts The FCA had, back in June, issued a warning to Binance Markets Limited and the Binance Group and imposed […]

How regulators should consider the future of DeFi | Ep. 1

What is DeFi, why it’s poised to enable financial inclusion, and how the showdown between decentralized finance and regulators is taking shape.

HK football team launches NFTs; Food concept offers crypto mooncakes

HK football team launches NFTs; Food concept offers crypto mooncakes

Bitcoin bulls brace. CryptoPunks’ pulling power. China’s crypto lawfare.

Top blockchain and crypto news: Is another Bitcoin bull run coming soon? Punks rocking NFTs. Why crypto contracts may not be enforceable in China.

Dark web tool Antinalysis is back and openly available on the internet

The previous version of Antinalysis, which was based on the AMLBot API, was shut down but within a week it has respawned not just on the darknet but also on the clearnet.

Thai SEC proposes new rules for digital asset custodians

Thailand’s Securities and Exchange Commission (SEC) on Wednesday launched a public consultation on its proposed amendments to regulations for the custody of crypto holdings in digital asset businesses. Fast facts The additional regulations — which the SEC said are intended to enhance investor protection — include requiring digital asset businesses to comply with “the principles […]

Hong Kong’s Resources Capital Football Club kicks off NFT goals

The team joins a growing number of football clubs around the world launching non-fungible tokens (NFTs) as they look to engage fans and generate new revenue streams.

Dogecoin is going to the dogs, including real-world canines

Just as Dogecoin prices are once again going to the dogs, a Chicago animal shelter is asking for DOGE donations to help real-life dogs in the dumps. Fast facts PAWS Chicago has launched a “Dogenation” campaign, which allows animal lovers to donate to the charity in cryptocurrencies — not just Dogecoin — via QR codes […]

Vogue Singapore catwalks to a metaverse with NFT launch

The magazine unveils two digital-only covers as well as fashion, beauty and design NFTs, all for sale in a new metaverse.

Former South Korea presidential advisor sentenced for crypto scam

A South Korean professor, formerly a committee member in current president Moon Jae-in’s presidential campaign, has been sentenced to two years in prison for promoting a scam cryptocurrency. Fast facts According to local reports, the professor and former advisor to Moon Jae-in’s 2017 electoral campaign was sentenced to two years in jail on fraud charges […]

Professor jailed for crypto scam; Cryptopunks trading volume soars

Professor jailed for crypto scam while Cryptopunks trading volume soars

Bitcoin miners may soon face tougher digging

As the crypto hashrate continues to recover, miners will likely have to work harder for their coins.

Ripple: SEC ex-chief Hinman’s views on XRP are ‘dubious’

Ripple also challenges SEC’s use of ‘deliberative process privilege’ to prevent agency documents on Bitcoin, Ethereum and XRP from disclosure.

Solana sees investment inflows of $7M, largest of any digital asset: CoinShares

After six consecutive weeks of outflows, institutional sentiment for digital assets is turning, with net inflows of US$21 million last week, according to CoinShares, Europe’s largest digital assets fund manager. Fast facts Total assets under management (AUM) across all digital asset fund providers rose to US$57.3 billion, the highest since mid-May, driven by the recent […]

Upbit submits compliance report: China’s e-CNY trials broaden

Upbit submits compliance report: China’s e-CNY trials broaden

Bitcoin price above $50K, Cardano and Solana at all-time highs as crypto market surges

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?

Survey predicts crypto will rival or replace fiat within 10 years

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 sets up another joint venture to mine crypto in Kazakhstan

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 […]

Taiwanese startup XREX raises $17 million to advance crypto payment services

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 taps former SGX chief regulatory officer as Singapore CEO

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. […]

Why an open metaverse economy might be coming soon

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.

As China cracks down on crypto, blockchain technology keeps flowering

Steelmaker Ansteel Group and lithium battery producer Tianneng are the latest companies to make use of blockchain in accordance with China’s national strategy.

Binance imposes mandatory KYC for all services with immediate effect

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: Binance users take legal action

Coinbase launches in Japan while Binance users take legal action

Come next month, will all of South Korea’s crypto exchanges hit a regulatory wall?

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 […]

Aussie tech entrepreneur offers Bitcoin to those vaccinated against Covid

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. […]

Coinbase partners with Mitsubishi UFG for entry to Japan

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?

Canadian regulator seeks enforcement action against crypto exchange OKEx

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 […]

Justin Sun’s Weibo account blocked again

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 hits new all-time high as upcoming smart contracts send ADA into new price discovery

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 shuts down website and social media of high-profile blockchain center

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 […]

Binance users burned by outage band together to take legal action

Crypto traders who suffered losses on Binance due to tech outages are turning to arbitration and crypto litigation finance.

Blockchain investment goes green: Court says bitcoin legally protected

Blockchain investment goes green while Court says bitcoin legally protected

Thailand publishes CBDC study results, pilot test to start in 2022

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 […]

Shanghai court rules Bitcoin is virtual property, not currency

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 […]

Netherlands warns Binance is illegally offering crypto services

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 […]