Search results: Singapore

Kenya plans to impose a 3% tax on the transfer of digital assets for the coming budget year

Many tokenized platforms have grave shortcomings, but if better standards could be adopted, the improved transparency can avert future crises, writes Ralf Kubli of the Casper Assn.

Singapore-headquartered cryptocurrency miner Bitdeer Technologies is planning to expand its mining operations to Bhutan and raise up to US$500 million for a fund through a new partnership with the Himalayan kingdom’s state-owned investment company Druk Holding and Investments.

Temasek, Singapore’s state-owned investment firm, has denied that it had invested in Array, an algorithmic cryptocurrency developer.

Seychelles-based cryptocurrency exchange Bitget expects more clarity on Hong Kong’s licensing regime from June as the city pushes ahead with plans to attract blockchain and cryptocurrency entrepreneurs.

The current US approach to regulating crypto flies against its history of supporting tech innovation and undermines its own national interest, writes Hamilton Keats of Krayon Digital.

India’s Finance Minister Nirmala Sitharaman, in commending the potential of distributed ledger technology (DLT), has urged for a global consensus in regulating crypto while emphasizing that regulation did not equate to government control over the technology. 

A clear and balanced legal framework will encourage more crypto investment, while the industry can promote best practices, writes Mahin Gupta of Liminal.

Kwon Do-hyeong will have a court hearing on May 11 in Montenegro on charges of allegedly attempting to travel using a false passport.

Leading auction house Sotheby’s said it will sell NFT artworks owned by the bankrupt crypto hedge fund Three Arrows Capital.

South Korea’s Do Kwon went from a poster boy of digital finance as a co-founder of the US$40 billion Singapore-based Terraform Labs to a fugitive on Interpol’s wanted list, all in a matter of several rollercoaster years. He’s now in a Montenegro jail where he may face more time in detention as the U.S. and South Korea demand his extradition to face a long list of charges, including securities fraud – allegations he has repeatedly denied. The following is a timeline of how we got here.

Shares of Singapore-based cryptocurrency miner Bitdeer have slid more than 35% since their Nasdaq debut on April 14, and were trading at US$6.41 at closing on Wednesday.

The U.K. could see digital asset regulation in the next 12 months as part of a push to turn the nation into a hub for digital assets, said economic secretary to the Treasury, Andrew Griffith

UAE’s Securities and Commodities Authority said Monday it has started accepting applications for operating licenses from cryptocurrency businesses.

Nothing in life is free. Be wary of crypto exchanges that offer ‘free trading,’ and ask hard questions about how they make money, writes Ben Caselin of MaskEX.

The global culture of decentralized autonomous organizations arrived in Japan last week for DAO Tokyo, the first event of its kind in Asia according to the organizers, drawing over 350 founders and contributors from all corners of the world for discussions on all things DAO.

Singapore-headquartered crypto mining firm Bitdeer Technologies is set to go public on Nasdaq on April 14 via a SPAC merger following multiple delays in closing the US$4 billion deal.

Nasdaq-listed Equinix and Indonesian conglomerate Astra International have set up a joint venture to help local businesses and multinationals capitalize on emerging technologies.

The upcoming upgrade to the Ethereum blockchain will allow users to withdraw millions of “staked” Ether, the native cryptocurrency, for potential sale. That would typically indicate a flood of selling pressure awaits the token, but not everyone is buying that.

The Australian securities regulator has canceled Binance Australia’s derivatives license.

PostFinance, a Swiss government-owned retail bank, has partnered with Sygnum Bank to provide crypto-related services.

CoinTrade said it has partnered with crypto custody platform Fireblocks to provide institutional clients with improved security for digital assets.

Bitcoin, the world’s largest cryptocurrency by market capitalization, recovered to trade above US$28,000 on Tuesday afternoon in Asia.

Cryptocurrency exchange Bybit has been ordered to comply with Japan’s regulatory requirements and cease offering services to Japanese residents, after Japan’s Financial Services Agency issued a warning to the company over its registration process

A South Korean court dismissed for the second time a request by prosecutors for an arrest warrant for Terraform Labs co-founder Daniel Shin.

Hong Kong-based asset management firm Plutus VC plans to raise US$100 million by the end of 2023 to fund investments in the cryptocurrency market, according to a Bloomberg report. The fundraising comes as the city moves to regain its status as an international finance and crypto hub.

The U.S. may have gained an edge in a race with South Korea to extradite Terra chief Kwon Do-hyung from Montenegro on charges of fraud.

Binance reportedly hid ties to China for years despite claiming to have left the country following Beijing’s regulatory clampdown in 2017.

Top blockchain and crypto news: Binance targeted in CFTC lawsuit. Law catches up with Do Kwon. Chinese banks bet on Hong Kong crypto.

Asia-Pacific nation are leading the way in developing global cryptocurrency regulations that favor innovation, which is something that U.S. regulators should also take note of, said Ripple Labs Inc. President Monica Long

Kwon Do-hyung will be held in Montenegro for a month on charges of using forged travel documents, South Korea’s Yonhap News reported.

Zipmex cryptocurrency exchange’s US$100 million venture capital buyout may be in danger, after buyer V Ventures missed the US$1.25 million payment due on March 23

Angelina Kwan, who helped shape early Hong Kong automated trading services and internet trading regulation, told Forkast the upcoming virtual asset licensing regime is almost identical to that for traditional financial institutions.

Seychelles-based cryptocurrency exchange Bitget said it has invested US$30 million in decentralized multi-chain wallet BitKeep to become its controlling shareholder. 

The IRS intends to tax NFTs as collectibles in the U.S. and is soliciting public opinions on the proposal through June.

Bitcoin held above US$28,000 on Wednesday morning in Asia amid a rebound in most top 10 non-stablecoin cryptocurrencies. XRP led the winners.

Terraform Labs co-founder Shin Hyun-seung, also known as Daniel Shin, was again called in for questioning by South Korea’s prosecutors on Monday.

The fall of Silvergate, SVB and Signature has left crypto firms scrambling for new banks. Will crypto banking head offshore for the long term?

Bitcoin traded flat below US$28,000 on Tuesday morning in Asia. Most other top cryptocurrencies retreated ahead of a U.S. decision on interest rates.

Crypto in Taiwan remains largely unregulated, but lawmakers have requested the cabinet to appoint a regulator by May 16 to oversee all things crypto.

Signum Digital said it’s the first company to win preliminary approval in Hong Kong to operate a platform to trade security tokens.

South Korean prosecutors said they will expand cooperation with overseas legal agencies to facilitate the arrest and extradition of Do Kwon.

The recent U.S. banks fallout is a stress test for both traditional finance and digital assets but to weather the storm side by side is a powerful opportunity, says Circle Chief Strategy Officer Dante Disparte.

Former employees of Do Kwon’s Terraform Labs are being questioned by the FBI and U.S. prosecutors in New York.

In the race to tame crypto’s excesses, we need to avoid regulatory clashes while DeFi draws lessons from TradFi, writes Rachel Lin of SynFutures.

Ethereum validators are benefiting from the increasingly heated competition between the two largest NFT marketplaces that is driving up gas fees, but the windfall may not last much longer.

Look for blockchain, self-reliance in technology discussions in China’s biggest political meetings of the year as China’s President Xi Jinping’s aims to build a digital economy.

Top blockchain and crypto news: Blur wash trading explodes. Coinbase extends developer foray with Base test. Hong Kong crypto embrace gets Beijing’s nod.

Chinese smartphone maker Huawei partnered with multiple overseas Web3 firms, as part of the company’s blockchain and metaverse venture.

Yuzo Kano, co-founder of Japan’s largest cryptocurrency exchange bitFlyer Inc., said he plans to return as CEO, sell shares to public.

Crypto industry’s interaction with regulators is important and quite common in Asia but missing in the US, says Brooks Entwistle of Ripple Labs.

Teneo, the liquidator of the bankrupt crypto lender Three Arrows Capital plans to sell non-fungible tokens estimated to be worth millions of dollars.

Hong Kong’s proposed crypto licensing regime received Huobi Global’s pledge to return to the city, and more companies may follow, industry experts told Forkast.

Multi-billion dollar bankruptcies, fraud allegations, scandal, and plunging cryptocurrency prices in 2022 all characterized why investors came to distrust centralized exchanges. Yet, some commentators expect platforms to become ever more centralized … and regulated.

Bitcoin and Ether prices rose in Tuesday afternoon trade in Asia, while all other top 10 non-stablecoin cryptocurrencies were mixed. XRP led gains at 2.37%, while Solana and Polygon dropped saw the largest declines.

The Hong Kong Securities and Futures Commission is calling for public feedback on its new proposals to regulate the crypto industry set to take effect in June.

The U.S. SEC charged Singapore-based Terraform Labs and its chief Kwon Do-hyung for defrauding investors.

Bitcoin and Ether prices strengthened in Wednesday afternoon trade, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization. Cardano led gains at 6.91%, followed by Dogecoin at 5.21%, though prices of top 10 tokens remain subdued on the week.  

The intensifying regulatory oversight in the U.S. is highlighting the increasing need for non-U.S. dollar-pegged stablecoins in the cryptocurrency industry, Binance Chief Executive Officer Changpeng Zhao said on Tuesday.  See related article: Be careful what you wish for? Regulators pick up pace in the crypto industry crackdown Fast facts See related article: SEC may make […]

Bitcoin rose in Wednesday morning trading in Asia to move back above US$22,000 as investors shrugged off a seeming U.S. regulatory crackdown on digital assets and data showing U.S. inflation for January was above forecasts.

Tokenization, stablecoins and DeFi will be growth areas, but regulatory uncertainty is still holding back adoption, writes John Avery of FIS.

Huobi Global plans to expand its operations in Hong Kong, anticipating that Mainland China will soon follow the city’s recent pro-crypto shift, says Justin Sun.

Governments are pushing central bank digital currencies to exert more control over macro policy, writes Josef Tětek of Trezor. But your money and privacy are also at stake.

Top blockchain and crypto news: GOPAX deal sees Binance return to South Korea. Inflation fight spooks crypto markets. Chinese liquor giant gives cheers to NFTs.

Prosecutors flew to Serbia earlier this month as part of an investigation into Terraform Labs chief Do Kwon, who faces fraud accusations related to the US$40 billion collapse of his Terra-Luna cryptocurrency project in May last year.

Digital Currency Group has started to sell shares of its cryptocurrency funds at a significant discount, according to a Tuesday report from the Financial Times.

Gemini has agreed to put up US$100 million to the asset recovery of Earn users as part of bankrupt crypto lender Genesis Capital’s in-principle agreement with parent firm DCG and other creditors.

Singapore-based cryptocurrency exchange Crypto.com has partnered with Korean drama distributor Studio Dragon to issue NFTs inspired by popular Korean drama series, including the hit Crash Landing on You, the exchange said on Monday.

Crypto layoffs last month matching 41% of the total industry job cuts in 2022, a new study finds.

The future global financial system will be reliant on the cloud, especially when it comes to CBDCs and stablecoins, writes Michael Greenwald and Logan Weber.

Top blockchain and crypto news: BTC mining ETF outperforms. SBF under pressure as accusations mount. ‘China’s Instagram’ embraces NFTs.

Laws to prevent another FTX blowup, crackdowns on crypto tax cheats, and a ruling on Ripple are likely imminent. A bull’s eye is also on DeFi, writes Gergo Varga of SEON.