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Already home to most of the world’s gamers, Asia has a rich pedigree in seeding and embracing new technologies, writes Robbie Ferguson of Immutable.

The SEC has hinted it may be set to appeal a recent court ruling against the agency in its case against Ripple Labs and the XRP token.

Bitcoin rose on Monday morning in Asia to reclaim the US$30,000 support level. Ether moved higher, while most other top 10 non-stablecoin tokens also gained.

Bitcoin fell under US$30,000, despite the SEC accepting eight spot Bitcoin ETF applications for review this week. A weekly close under that psychological level could lead to more panic selling, industry experts told Forkast.

Welcome to Forkast IQ, presented by Angie Lau, where we look beyond the headlines to get you insights that power smarter decisions. Coming up on today’s show:

The value of crypto is typically tied to its correlation with fiat money. What if tokens can be earned only through good deeds and helping others?

Top blockchain and crypto news: Ripple not clear of hurdles | NFTs in historically slow period | Hong Kong banks dither

Bitcoin and Ether both recaptured key support levels. Institutional interest remains upbeat following a slew of Bitcoin exchange-traded fund (ETF) applications, industry experts told Forkast.

Bitcoin edged higher on Thursday morning, along with most other top 10 cryptocurrencies, but the token looks to have lost support at the US$30,000 line.

P0x Labs, the developer behind layer-1 zero-knowledge blockchain Manta Network, has secured US$25 million for the Network’s expansion in Asia.

NAB, one of Australia’s “big four” banks, announced it is taking action to block some payments to “high-risk” cryptocurrency exchanges, as part of its new measures aimed at protecting customers from scams.

Bitcoin and Ether rose during Wednesday afternoon trading in Hong Kong, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization.

Change won’t happen overnight, but tokenization is a trend that will trigger seismic shifts in the financial landscape, writes Hamilton Keats of Krayon Digital.

Bitcoin slipped under US$30,000 on the back of profit-taking and long liquidations as the recent run up on optimism about exchange-traded funds seemed to run out of steam.

China’s Zhejiang province, the home province of e-commerce giant Alibaba Group,has established a metaverse industrial association.

Stablecoins play a pivotal role as a safe-haven medium of exchange in times of high inflation, writes James Glasscock. But they’re not without risks.

XRP continued its rally after XRP issuer Ripple’s favorable ruling last week in its lawsuit with the U.S. Securities and Exchange Commission (SEC).

As the US is engulfed in regulatory strife, Asian countries are rolling out legal frameworks that attract crypto investment, protect consumers and encourage innovation.

The U.S. SEC has accepted BlackRock’s application for a spot Bitcoin ETF, a major step for the potential launch of the country’s first spot Bitcoin ETF.

Bitcoin rose to trade at over US$30,300 on Monday morning in Asia, but the price fell over the weekend to around the pre-Ripple ruling level.

Scrutiny on the stablecoin’s reserves has intensified since USDT’s latest depegging scare. Paolo Ardoino, CTO of Tether and Bitfinex, delves into the composition of USDT reserves, explaining how the firm ensures dollar redemptions, irrespective of secondary market prices.

Bitcoin rose to US$31,736 on Friday, bolstering Ethereum to above US$2,000, after the court ruled that the sale of XRP did not constitute a security. Bitcoin needs a close above US$31,000 to pave the way for US$32,500, market experts told Forkast.

Bitcoin, all other top 10 non-stablecoin tokens logged gains Friday morning. That followed a favorable SEC ruling for Ripple, whose XRP token led the gains.

Europe’s first spot Bitcoin exchange-traded fund (ETF) is expected to be publicly listed this month, following a 12-month delay from the initially planned date

Top blockchain and crypto news: Standard Chartered eyes US$120,000 per Bitcoin | Another week of declines in NFT market | Sega and Line team up.

Stablecoin issuer Circle has reduced its workforce and investment in non-core activities.

Bitcoin dropped on Thursday morning in Asia to below US$30,500. Ether and most other top 10 non-stablecoin tokens also logged losses.

As stores of our identity, customs and creativity, NFTs will drive Web3 adoption and become central to the new digital economy, writes Yat Siu, executive chairman of Animoca Brands.

South Korea’s FSC is requiring companies that issue or own cryptocurrencies to provide detailed crypto disclosures from 2024.

Bitcoin breached US$31,000 level in the past 24 hours after falling back to hold above US$30,000. Ether and all other top 10 cryptos gained.

The Japanese gaming giant is currently somewhere in the Web 2.3 to 2.7 range, says co-Chief Operating Officer Shuji Utsumi.

The key to making crypto easier to use while less prone to skulduggery lies in centralizing some security and UX features, writes Hsuan Lee of Blocto.

Bitcoin rose on Tuesday morning in Asia, after Standard Chartered predicted the token could reach US$120,000 by the end of 2024. Ether and most other top 10 tokens rose.

All top 10 cryptocurrencies, including Bitcoin and Ether, drop over the last 24 hours while investors brace for more interest rate hikes in the U.S.

Crypto’s current turmoil in the US stands in stark contrast to other jurisdictions that are paving paths to for the industry to shine, writes Sean O’Connor.

Bitcoin dipped on Monday morning in Asia but held above the US$30,000 support level. Ether edged lower along with most other top 10 non-stablecoin tokens.

While Asia nations such as Singapore and Thailand seem to be following the U.S. regulator in frowning upon certain products offered by crypto exchanges, the approach in Asia so far seems to be clarity instead of court battles, in contrast with North America

Japanese multinational gaming firm Sega Corp. is withdrawing from blockchain-based games as play-to-earn games are “boring,” according to Shuji Utsumi, the company’s co-chief operating officer cited by Bloomberg on Friday. 

Hong Kong, Japan, Singapore and Thailand have regulations supporting the growth of tokenization, showing the world the benefits of fractionalizing assets.

Despite a plunge in unique NFT buyers on Cardano, which earned it the nickname “ghost chain,” data reveals that the blockchain’s NFT market outperformed leading competitors such as Ethereum, Solana, and Polygon in June.

Southeast Asia steps up regulation. No end in sight for NFT market decline. Voyager’s shrinking portfolio.

Bitcoin, Ether fell along with all top 10 cryptocurrencies. Litecoin and Cardano led the losers. The Forkast 500 NFT index rose, but NFT mood is pessimistic.

Australian Securities and Investments Commission (ASIC), the country’s financial services regulator, searched the local offices of Binance on Tuesday as part of an ongoing investigation of the exchange’s derivatives business, a Bloomberg report said.

Bitcoin and Ether fell during Wednesday afternoon trading in Hong Kong but remained above key price levels, while most of the top altcoins were in the red.

Indian Web3 firm Airchains has announced a partnership with the New Town Kolkata Development Authority of West Bengal, to release 500,000 NFTs in hopes to enhance registration and transfer of land ownership. 

Bitcoin and Ether fell during Tuesday afternoon trading in Hong Kong, while most of the top 10 non-stablecoin cryptocurrencies by market capitalization were mixed.

From pay-to-play arcade video games to sales of home consoles, gaming’s evolution into peer-to-peer marketplaces is posing a new challenge to the status quo, writes Jackson Poon.

Bitcoin climbed above US$31,000 on Tuesday morning in Asia after Blackrock refiled its Bitcoin ETF application. Ether also gained amid institutional interest.

Digital assets funds have been flowing in waves all over the world since crypto’s inception, writes Amy Yu, CEO of SEBA Bank. Where is crypto capital going now?

Hong Kong’s local government on Friday set up the Task Force on Promoting Web3 Development to promote the benefits of blockchain to real-world industries.

The Blockchain Association said the U.S. SEC chair Gary Gensler should remove himself from enforcing rules on the crypto sector.

A U.K. bill to recognize cryptocurrency trading as a regulated financial activity passed into law on Thursday.

The market now has 26,000 different cryptocurrencies and the total number of coins in circulation approaches infinity. How do those tokenomics make any sense?

Binance’s euro banking partner, Paysafe Payment Solutions, will stop offering its services for the world’s largest cryptocurrency exchange from Sept. 25.

Top blockchain and crypto news: Fidelity Investment is reportedly close to filing its own Bitcoin ETF. NFT traders seek liquidity. Singapore eyes asset tokenization.

Bitcoin dropped but remained above US$30,000, with all other major cryptocurrencies falling, as investors reacted to news of MicroStrategy’s Bitcoin purchase and ARK Invest’s spot Bitcoin ETF plan.

Geisha, kimono, tea ceremony — the Japanese city of Kyoto is a place rich in traditional culture. But as the national government pivots toward the cutting edge potential of digital assets and Web3, the city is this week playing host to one of Asia’s largest crypto get-togethers.

Collaborative venture building involves pooling resources, expertise and ideas — a strategy ideal for Web3 startups to succeed, writes Katherine Ng.

Bitcoin rose along with other major cryptocurrencies. Fidelity reportedly plans a second spot Bitcoin ETF application in the U.S. following BlackRock’s move earlier this month. A strong day on Wall Street also offered support.

The Monetary Authority of Singapore (MAS), the city state’s central bank, has proposed a framework for designing open, interoperable networks for digital assets, developed jointly with the Bank for International Settlements and other financial institutions. 

Shanghai on Wednesday released a three-year plan to build its culture and tourism metaverse.

Despite its potential, Web3 gaming has had mixed reviews from gamers and developers, writes Freddie Ng. Here are the challenges and opportunities.

Cryptocurrency issuers in Japan are now exempt from paying a 30% corporate tax on unrealized gains on tokens.

Binance Abu Dhabi’s chief Dominic Longman discusses the UAE’s approach to cryptocurrencies and the state’s support for innovation.

Bitcoin shrugged off Prime Trust’s cease order, as risk appetite was bolstered by several TradFi alumni entering the crypto space this week. Could we see more spot Bitcoin ETF applications next week?

Seychelles-registered cryptocurrency exchange OKX, which says it is the world’s second-largest crypto platform by trading volume, opened an office in Dubai on June 15 as part of its global expansion and aims to raise staff numbers to 30 to tap opportunities in the region.

Bitcoin remained above US$30,000, even as Nevada state regulators in the U.S. ordered crypto custodian Prime Trust to cease operations.

Having a crypto wallet is necessary to participate in a token airdrop, but wallets are also vulnerable to hacks and mishaps, writes Ravindra Kumar of Frontier.

Top blockchain and crypto news: Wall Street backs new crypto exchange. NFT traders remain cautious. Alibaba’s incoming chairman is a crypto fan.

Bitcoin fell and Ether rose during Thursday afternoon trading in Hong Kong, along with all the top 10 non-stablecoin cryptocurrencies by market capitalization. Bitcoin rose above US$30,000 earlier today, following news of institutions like BlackRock, Fidelity and Deutsche Bank entering the crypto space.

The Monetary Authority of Singapore (MAS) released on Wednesday a whitepaper for “purpose bound” money, detailing a technical overview of digital currencies designed for specific purposes.

Bitcoin and Ether rose during Wednesday afternoon trading in Hong Kong, along with all the top 10 non-stablecoin cryptocurrencies by market capitalization. Bitcoin rose above US$28,000 as signs of institutional crypto adoption bolstered investor sentiment.