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?
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?
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.
The Xi’an taxi industry and the Bank of Xi’an launched an e-CNY pilot program to accept e-CNY as fare, becoming the first city in China to accept digital renminbi as a taxi fare, a local newspaper reported. Fast facts Ten cabs selected as pilot vehicles have QR codes posted, and passengers can scan the QR […]
China crackdown legal concerns as Korea also discusses virtual asset law
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.
Top blockchain and cryptocurrency news: Beijing’s crypto crusade comes to a head. Chinese mining caves in. Mr. Goxx reaps robust returns.
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 […]
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 saw a fivefold increase in blockchain patents last year despite the Covid-19 shutdown.
China’s Blockchain-based Service Network (BSN) — a public-private nationwide infrastructure project to spur mass adoption of blockchain technology — is moving a step closer to more international exposure, as the company behind it is working to register a foundation based in Singapore. Fast facts Red Date Technology, the company China tapped to manage its BSN, […]
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.
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.
At the Cardano Summit over the weekend, IOHK founder Charles Hoskinson revealed a slew of partnerships and other developments for the Cardano blockchain
South Korea’s virtual asset industry is expected to withstand major regulatory reconstruction
Singapore-based blockchain protocol eXchange inFinite (XinFin) and trade finance distribution platform Tradeteq today announced their partnership to tokenize trade finance assets into non-fungible tokens (NFTs), according to a company statement shared with Forkast.News. Fast facts Atul Khekade, co-founder of XinFin, told Forkast.News in an interview that traditional trade finance assets that are typically paper-based such […]
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.
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.
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.
China’s hardline stance against crypto is already rippling beyond its borders. A mainland crypto insider explains the global shakeup yet to come.
GIGXPAD, a decentralized finance (DeFi) project based in Africa, is partnering with public blockchain network Conflux to tokenize real-world assets, according to a company statement shared with Forkast.News. Fast facts The collaboration, which marks the Chinese blockchain Conflux’s first use case in Africa, will see GIGXPAD deploying a decentralized crowdfunding platform on Conflux. According to […]
D-day for Korean crypto exchanges meanwhile e-CNY project speeds up
While a US digital dollar is stuck at pole position, China’s digital yuan is nearing the finish line. Michael B. Greenwald of Tiedemann Advisors explains why it matters to the future global economy.
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 […]
China may be a small step closer to internationalizing the yuan, though its central bank says the e-CNY is now mostly tested for domestic use.
SushiSwap, a Japanese decentralized exchange, has dismissed the claims of a white hat hacker who says two contracts on the exchange have a vulnerability that puts US$1 billion worth of user assets at risk. Fast facts An anonymous white hat hacker published a report on Thursday claiming there is a loophole in the emergency withdrawal […]
Until recently, most Southeast Asians had no internet. Now the region is abloom with blockchain innovation. How did they do it?
With the Cardano blockchain now supporting smart contract capabilities, developers will soon be able to upload their decentralized applications (DApps) and make them available to others through a Plutus dAppStore, according to a blog post by Input Output HK (IOHK) ahead of the Cardano Summit taking place this weekend. Fast facts “The store will provide […]
Umbrella Network, a decentralized oracle, has acquired Lucidity, a blockchain-based advertising and analytics platform, to bring more data transparency to advertisers, according to a company statement. Fast facts The acquisition was completed in August 2021 for an undisclosed amount, according to the company statement. Lucidity will be integrated with Umbrella Network as part of the […]
Survey shows growing consensus on adoption, investment and use cases. ‘Blockchain is here to stay.’
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 […]
Marquee investors like Softbank and Andreessen Horowitz are heaping love on Sorare and Dapper Labs. What does this mean for the future of the non-fungible tokens sector?
The United Arab Emirates Securities and Commodities Authority (SCA) and Dubai World Trade Centre Authority (DWTCA) have signed an agreement to support crypto-assets trading and related financial activities in the DWTCA free zone. Fast facts The agreement allows the DWTCA to issue approvals and licenses for financial activities related to crypto assets and the SCA […]
The country’s crypto industry has been turned upside down with stricter operating rules that take effect tomorrow.
VC names jump in on NFTs meanwhile crypto investors brush off Evergrande
The property market is increasingly expensive and out of reach for today’s younger generation. Digital land sales may hit home with some buyers.
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 […]
Ripple’s win in Bhutan comes as it suffers a setback in a US court as judge rebuffs Ripple’s request for SEC’s internal trading decisions over XRP.
The cryptocurrency market has rebounded in the past 24 hours as news broke that China Evergrande Group, the second largest property developer in the world’s most populous nation, has taken a step back from falling off a potential debt cliff today. Fast facts While the overall cryptocurrency market is still down for the week, all […]
Cobo, a Singapore-based crypto custody and asset management platform, today announced the completion of its US$40 million Series B fundraise to accelerate the rollout of its decentralized finance (DeFi) as a service (DaaS) product. Fast facts In an interview, Cobo Chief Operating Officer Lily Zhuo told Forkast.News that Cobo’s DeFi as a service (DaaS) product, […]
Why is content moderation a cosmically huge problem, do humans need to be involved and how can the decentralized web ensure it’s a place for everyone.
Top blockchain and crypto news: Evergrande end-game roils crypto markets. SEC takes aim at stablecoins. How close is China’s digital yuan to the finish line?
India may not be ready to follow El Salvador’s lead, but don’t rule out cryptocurrency, finance minister says
Nirmala Sitharaman says ‘a futuristic thing can’t be shut out’ as the country considers crypto regulation, including a possible blanket ban.
Blockchain and parametric insurance offer a bigger safety net for the world’s most vulnerable, writes Jan Stockhausen of Etherisc. Here’s how it works.
In an interview by the Washington Post on Tuesday, U.S. Securities and Exchange Commission Chairman Gary Gensler questioned the future of cryptocurrency, saying, “I don’t think there’s a long-term viability for five- or six thousand private forms of money. History tells us otherwise.” He added that “in the meantime, it’s worthwhile to have an investor […]
Evergrande debt woes hit crypto meanwhile Mooncakes are in the metaverse
With only a few days left until Korea’s regulatory deadline for virtual asset exchanges, all have accepted the government mandate in service suspension except for one exchange, Gopax. Fast facts Twenty-four virtual asset exchanges in South Korea are in limbo — they have only met one of two new requirements, and were subsequently asked by […]
Chinese crypto mining rig maker Canaan Inc. announced Monday that its board of directors has authorized a share repurchase program, in a signal of confidence in crypto mining’s future and a belief that its own stock is undervalued. Fast facts Nasdaq-listed Canaan said it may repurchase up to US$20 million worth of its outstanding American […]
As total hashrate recovers, adjustment would follow four increases after as many declines since China intensified crypto mining clampdown.
From crypto-embossed mooncakes to mooncake NFTs to gatherings in the metaverse, how Asia’s crypto fans are celebrating the Mid-Autumn Festival.
As major banks distance themselves from crypto business, alternative trading methods like peer-to-peer transfers are gaining popularity among investors
Crypto investors and industry watchers are following closely the potential collapse of Chinese property giant Evergrande.
Blockchain communities are instrumental to shaping how projects develop and operate, writes Humpty Calderon of Ontology. What are the signs of a thriving ecosystem?
Coinbase, the largest cryptocurrency exchange in the United States, has dropped its plans to launch its high-yield-generating “Lend” product following the U.S. Securities and Exchange Commission’s threat to sue the exchange if they did. Fast facts Coinbase Chief Legal Officer Paul Grewal disclosed in a blog post earlier this month that the company had received […]
The amount of electronic waste generated by the Bitcoin network is comparable to the amount of discarded electronic equipment in a small country like the Netherlands, a study published by the academic journal Resource, Conservation and Recycling states. Fast facts According to the paper, a Bitcoin mining machine can lose 35% of its profit potential […]
Upbit can operate as a virtual monopoly as it becomes the country’s first licensed business to handle cryptocurrencies.
Upbit passes Korea crypto race post meanwhile P2P transactions surge in India
ETH 2.0 is expected to address transaction speeds and gas fees on the world’s number two blockchain, but a growing number of layer-2 protocols are looking to solve those issues today.
As most of the crypto market stagnates, Cosmos has been on a tear over the weekend, gaining 35% since Saturday morning Asia time to reach an all-time high of US$44.54 this morning, according to CoinMarketCap.com. Fast facts Though it dropped slightly to US$41.72 just before press time, this jump marks the first time the ATOM […]
Binance, the world’s largest cryptocurrency exchange by trading volume, is reportedly now under investigation for possible insider trading and market manipulation by the United States Commodity Futures Trading Commission (CFTC). Fast facts According to a Bloomberg report that cited unnamed sources, investigators from the CFTC — the agency that regulates the U.S. derivatives markets — […]
Four Chinese cities announced they will compete for inclusion in the next batch of digital renminbi pilot projects. They are Guangzhou, Tianjin, Yiwu and Fuzhou. Fast facts Guangzhou and Tianjin have written their goals into their city’s “14th Five-Year Financial Industry Reform Plan,” and Yiwu’s plan has been reported to the State Council. Guangzhou is […]
Black Friday for Korean exchanges while E-CNY launch in final stretch
All but four platforms in South Korea obligated to announce the suspension of their services by today.
Most banks distance themselves from virtual asset platforms as the country’s central bank lobbies for a ban.
AVAX and SHIB outperform Bitcoin, which gained in price but shied from the $50K mark.
China’s Inner Mongolia region — once a thriving cryptocurrency mining hub that has enacted a series of measures to rein in the sector — is tightening its crackdown by hiring a contractor to monitor and ferret out mining operations. Fast facts The Inner Mongolia Development and Reform Commission announced on Wednesday a bidding result for […]
The U.S. Treasury is preparing a raft of recommendations for stricter oversight of Tether and other stablecoins, as unnamed insiders say the department has identified the greatest risks posed by the tokens, according to a recent Bloomberg report. Fast facts Making sure investors are able to transfer money in and out of tokens is a […]
It’s hot on Bitcoin Beach and the Twitterverse, but the new legal tender doesn’t have uptake elsewhere in the Central American country.