RBA opens submissions for 2023 CBDC pilot
The Reserve Bank of Australia (RBA) on Monday published a whitepaper on its central bank digital currency (CBDC), or “eAUD,” pilot project that will start in January 2023 and has invited industry participants to submit use cases with economic and social benefits. See related article: World Economic Forum argues for CBDCs, Australia latest to test […]
Is the Philippines on track to becoming a blockchain hub?
The Philippines now ranks 2nd in the world for crypto adoption, but its path ahead is unclear, writes Emman Navalan. What are the hurdles it must overcome?
California governor vetoes bill requiring crypto-related businesses to obtain special license
A bill that proposed a regulatory and licensing framework for crypto companies was rejected by Gov. Gavin Newsom amid a broader national debate concerning the policing of digital assets.
South Korea’s Busan city wants to be blockchain central. Did everyone get the memo?
The coastal city was a prominent manufacturer of footwear, fabric and other light industries during the 1970s and 80s, and then grew into one of the world’s biggest container ports. Now it’s trying to reinvent itself in the digital world of blockchain.
Capital gains: How Web3 property rights can transform the digital economy
Digital ownership enabled by Web3 tech can challenge the monopolistic dynamics of Web2 and give people real equity, says Animoca Brands chief Yat Siu
Future of CBDCs & Stablecoins
Can regulators strike a balance between innovation and regulation of stablecoins and CBDCs? We take a closer look in today’s episode of TDF.
Philippine central bank sees stablecoins as key to make payments more efficient
Bangko Sentral ng Pilipinas (BSP) Director Mhel Plabasan said the central bank has adopted a flexible approach on the digital assets.
‘Act smart, but act fast’: Industry experts say there’s no time to waste addressing stablecoins, CBDCs in Asia
Panelists at Forkast’s “Crypto Rising: CBDCs & Stablecoins: The Asia Perspective,” co-hosted by the Crypto Council for Innovation (CCI), said tackling the technology requires international cooperation and flexibility to not stifle innovation.
Blockchain’s lack of accessibility will limit its potential
Blockchain technology remains a world divided by silos that keep out developers and users, writes Manu Siddaligegowda of Lisk. What are the solutions?
South Korea unlikely to push out crypto regulation before the U.S., authority says
South Korea’s top financial watchdog Monday said it is difficult for the country to establish laws overseeing the cryptocurrency industry in the country ahead of a common global regulatory framework as cross-border enforcement would be a key determinant of effectiveness.
If the UK wants to become a crypto hub, it must do better
Britain’s internal divisions could thwart its crypt ambitions, writes Nick Saponaro of Divi Labs. Will it be eclipsed by crypto-friendly Dubai?
The world is still far from mass crypto adoption, says Vujinovic of OGroup
Maja Vujinovic, founder and CEO of OGroup, a financial services company with a focus on artificial intelligence and blockchain, spoke to Forkast about the future of digital assets at StartmeupHK Festival 2022.
Binance’s US$7.5 billion woman sees plenty of promise in bear markets
Yi He, who manages the multibillion-dollar portfolio at Binance Labs, is looking to invest in Web 3.0 projects from infrastructure, application and data to analytics and security.
Owning a piece of history: How NFTs can help maintain our collective memory
Non-fungible tokens aren’t merely novelty items — they can play a valuable a role in preserving history and culture, says Artifact Labs chief Gary Liu
Singapore Deputy Prime sees “tremendous potential” in tokenization and DLT
The Monetary Authority of Singapore (MAS) is preparing for the future of finance by exploring distributed ledger technology use cases, such as asset tokenization and cross-border payments, the city-state’s Deputy Prime Minister Lawrence Wong said on Thursday at an event organized by the central bank. See related article: Filecoin service provider RRMine leaves China for […]
Singapore grants capital markets license to SBI’s digital asset arm
SBI Digital Markets Pte. Ltd. (SBI DM) has received a Capital Markets Services (CMS) license from Singapore’s central bank, which allows it to provide custodial services and offer capital markets products. See related article: Singapore’s MAS says needs to do better job explaining crypto policy Fast facts SBI DM plans to launch a digital asset […]
Singapore central bank says data on crypto holdings by general public not available
The Monetary Authority of Singapore (MAS) said it is unable to determine the proportion of cryptocurrency holdings by the general public in the city-state as these include transactions with both Singapore-based as well as overseas service providers. See related article: Singapore’s MAS says needs to do better job explaining crypto policy Fast facts “Data on […]
All aboard the good ship Ethereum for The Merge. Next stop?
The most critical upgrade in Ethereum’s history is just around the corner, so what will it mean for prices of cryptocurrency?
Why Ethereum Merge won’t be able to overcome the ‘Scalability Paradox’
Ethereum’s completion of its much anticipated ‘Merge’ this week will unlikely improve the network’s long-term speed or scalability, writes Mark Lurie of Shipyard Software. Why is this so, and why will it still be good for innovation?
NEAR Foundation, Forkast announces Women In Web3 winners
The eleven winners highlight the achievements and importance of women in the burgeoning Web3 space.
Ethereum has had problems since its inception. Will the ‘Merge’ solve them?
Ethereum has long grappled with centralization, which the Merge will unlikely address in a meaningful way, writes Daniel Dizon of Swell Network.
New UK PM, finance minister have previously supported crypto, blockchain
Britain’s new Prime Minister Liz Truss has appointed Kwasi Kwarteng, former head of the U.K.’s department for business, energy and industrial strategy, as the new finance minister, charging him with decisions that will impact British and global crypto markets. See related article: Bank of England calls for greater crypto regulation Fast facts Former Finance Minister […]
China to speed up, expand digital yuan smart contracts, PBOC official says
Mu Changchun, head of the central bank’s digital currency institute, says the agency is developing a platform to review and register smart contracts for e-CNY, the country’s new digital currency in trial.
IMF looks to build platform for cross-border CBDC transactions
The director and division chief of IMF’s Monetary and Capital Markets Department will soon publish a paper laying out a blueprint for a platform to support CBDC clearing and settlement transactions between multiple countries. See related article: Inter-country use key for CBDCs to reach potential: report Fast facts See related article: US Digital Dollar Project […]
Director at China’s Securities Regulatory Commission deep-dives into Web 3.0 in new book, a year after China’s crypto ban
Nearly a year after China banned crypto trading and mining, the director of the Technology Supervision Bureau at Chinaøs Securities Regulatory Commission has published a book discussing Web 3.0 and blockchain technology. See related article: Shanghai turns to metaverse, NFTs to counter lockdown economic fallout Fast facts Yao Qian’s book “Web 3.0: Changes and Challenges […]
US Digital Dollar Project to work with Ripple on CBDC technical sandbox
The U.S.-based Digital Dollar Project said it will work with Ripple and a few other digital asset firms to launch a technical sandbox program to further study a U.S. central bank digital currency (CBDC). See related article: CBDCs better poised for cross-border payments than Bitcoin, stablecoins: ECB study Fast facts The non-profit initiative announced on […]
How did Big Tech gain such power over our data, and how do we take it back?
Google earns hundreds of billions annually by monetizing its users. Can blockchain return meaningful control over personal data back to the people?
Fed’s inflation fight batters crypto market as pressure mounts
Top blockchain and crypto news: Is crypto in for a long cold spell? Ava Labs lashes out at CryptoLeaks claims. China eyes blockchain power trading.
The X-to-Earn model: Eat, sleep, do almost anything and get paid in crypto
Are you a good runner? Or eater? Or sleeper? Chances are whatever you’re good at, there’s a Web3 project out there to reward you in crypto. But do the tokenomics stack up?
SEC, Ripple take XRP lawsuit battle to media as well
The ongoing battle between the U.S. Securities and Exchange Commission and Ripple Labs over the latter’s token XRP is playing out not just in a courtroom but in media channels as well. See related article: SEC files no objection to Ripple request to seal non-party identities in XRP lawsuit Fast facts Stu Alderoty, general counsel […]
Singapore’s MAS says needs to do better job explaining crypto policy
The city-state hosted a seminar with a title that it hopes sums up its crypto approach: “Yes to digital asset innovation, No to cryptocurrency speculation.”
Why the crypto world needs more women as leaders and investors
Women foster a better environment for innovation and are sober with money — which is what the industry needs, writes Gracy Chen of Bitget.
An internet of blockchains: Interoperability in a multi-chain future
Interoperability among blockchains will be central to the next phase of the technology’s evolution, says Cosmos cofounder Ethan Buchman.
Siloed regulatory efforts unlikely to help bring oversight to highly decentralized crypto industry
Panelists speaking at Forkast’s recently live-streamed event “Crypto Rising: The future of crypto regulation: APAC and Beyond,” co-hosted by Crypto Council for Innovation (CCI), said there need to be international cooperation among regulators from around the world to make any oversight of the crypto industry effective.
Crypto miners plan to fork Ethereum, will it make a difference to the Merge?
Ethereum has by far the most developers from DeFi projects to NFTs so how are they expected to respond to a plan by Etheruem miners to fork the network, a move miners argue is needed to stay in business.
Tornado Cash arrest heralds storm season for crypto mixers
Top blockchain and crypto news: Tornado Cash, mixer crash. Cardano’s Vasil vulnerabilities. Canaan earnings buoy expansion plans.
NEAR Foundation, Forkast shortlist 20 Women in Web3 for inaugural Changemakers list
Ten winners will be selected by public vote, which will end on August 29.
Australia’s crypto industry split on Treasury’s ‘token mapping’ scheme
The Treasury Department says its plan for how to regulate cryptocurrencies is unlike anything else in the world, but the country’s crypto industry isn’t sure that’s a good thing.
Problems with tokenizing real estate and how to fix it
Real estate as an investment is not very liquid, composable or accessible, writes Joel Lin of CitaDAO. Can tokenization and DeFi transform this market?
Keeping it real: How metaverses connect to the physical world
Metaverses are more than gamified virtual spaces — they’re a different way to live real life, says Metapolis cofounder Sandra Helou.
Crypto winter may be just what DeFi needs to grow and thrive
The decentralized finance sector is now a fraction of its former self. What will help companies survive this bear market and emerge stronger?
Why crypto firms should embrace regulations and compliance
Regulatory compliance will be critical to improving crypto’s ‘Wild West’ image and public acceptance, writes Karen Er and Benjamin Bai of Amber Group. Here’s why.
Philippine central bank halts crypto service provider applications for 3 years
The Bangko Sentral ng Pilipinas (BSP) slaps a moratorium on new virtual asset service provider (VASP) license applications starting Sept. 1.
Despite the bear market, enterprise blockchain has nothing to fear
Crypto’s volatility may be top of mind right now, but blockchain’s practical uses will be the industry’s future, writes Johannes Schweifer of CoreLedger.
Binance-WazirX spat heats up as investors yank funds from Indian exchange
Top blockchain and crypto news: Binance spurns WazirX amid India probe. BlackRock bets on Coinbase. Crypto influencers in China’s crosshairs.
Reddit teams up with FTX to innovate community points
Reddit has partnered with cryptocurrency exchange FTX to integrate the social network’s Community Points feature with FTX Pay to allow Reddit users to buy Ether on the app. See related article: Instagram expands NFT platform to 100 countries Fast facts FTX Tuesday said the partnership enables Reddit users to purchase the second-largest crypto by market […]
Why crypto remains niche and far from the mainstream
The crypto world is plagued by products that are hard to use and have little utility, writes Roman Kashcheev of Quantfury. What can turn things around?
Why Singapore may be the ideal place for companies to rebuild post-crypto winter
Singapore is growing its digital assets industry while reducing risks, and its clear regulations allow firms to better plan for the future, writes Desmond Yong of DTC.
Affairs of the art: Why NFT creators have fallen for Tezos
Tezos has become a leading art blockchain, even in China, where NFTs are barely tolerated. Its regional chief, Katherine Ng, explains its success
South Korea’s all-encompassing crypto law is coming — what we know so far
Lawmakers are pulling together regulations for trading in digital assets. If all goes to plan, the so-called Digital Asset Basic Act will be in shape by the first half of 2023.
Blockchain in India got off on wrong foot, says former finance chief
India’s government doesn’t like cryptocurrencies and has made that clear in statements and with heavy taxes on the asset class, but what does that say about blockchain adoption?
Dubai police launch 2nd edition of NFTs, see use case for digital assets
Dubai police are dropping a second round of non-fungible tokens (NFTs), as digital assets conform to their interests in innovation, security and communication. In a statement on their website, Dubai police claim to be the first government entity in the United Arab Emirates (UAE) to create its own digital assets and the first police organization […]
Hong Kong to launch US$637 mln tech fund for startups: report
Hong Kong will launch a HK$5 billion (US$637 million) fund to support startups seeking to reach unicorn status, the city’s Financial Secretary Paul Chan Mo-po said. See related article: Hong Kong’s Cyberport invests in digital asset custodian Hex Trust Fast facts See related article: Animoca Brands ups valuation to US$5.9B despite slumping markets
Why DeFi remains attractive to institutions in a bear market
Despite the bleak macro outlook, more institutions are looking to gain exposure to the DeFi sector, writes Robert Alcorn of Clearpool. Here’s why.
Scarred by Terra-LUNA, South Korea moves ahead with digital asset reform
Aiming to uncover the next “BTS in finance,” Chairman Kim Joo-hyun of the Korean Financial Services Commission (FSC) is calling for “bold reforms” in financial regulations, including in crypto assets.
US stablecoin bill draft may be released this week: report
Lawmakers in the U.S. House of Representatives are pushing to introduce a stablecoin bill draft this week before the House breaks for August recess, according to four unnamed sources “familiar with the plan” cited by The Block. See related article: Hold onto your crypto bags, the regulators are coming Fast facts The proposal on stablecoin […]
What is the crypto industry’s public responsibility?
The crypto world is consumed by a spiritual battle between its believers and haters, and it is in need of a rebirth and new identity, writes Prof. Yanto Chandra of Hong Kong Polytechnic University.
How cold storage can ward against this crypto winter’s freeze
As the Celsius bankruptcy shows, moving to decentralized ways to hold crypto is not only sensible, it’s what Satoshi envisioned all along, writes Ruben Merre, CEO and cofounder of NGRAVE.
Mind the gap: Fixing the female deficit in Web 3.0
Despite some recent progress, the Web 3.0 industry is still coming up short on women’s participation, says NEAR Foundation chief Marieke Flament
NEAR Foundation, Forkast partner to showcase talented, socially mindful women in Web3
The partnership will celebrate the progress, impact and innovation of exceptional women leaders across the globe.
Polygon’s ZK solution aims to slash current layer 1 Ethereum network costs by 90%
Polygon, the Ethereum layer 2 scaling network, Wednesday said it is launching the testnet of its highly-anticipated zero-knowledge (ZK) rollup dubbed Polygon zkEVM, in what it called “a giant leap forward for Ethereum scaling and ZK innovation.” See related article: What is Polygon (MATIC) — ‘Ethereum’s internet of blockchains’? Fast facts In a series of […]
Dubai scorches crypto winter with plans to support 40,000 ‘virtual jobs’
Dubai aims to be one of the top 10 cities globally in the metaverse economy, creating 40,000 virtual jobs and adding US$4 billion to the city’s economy in five years. See related article: Dubai could be crypto’s promised land, Citi says Fast facts The launch of the Dubai Metaverse Strategy on Monday was aimed at […]
US crypto bill may not pass the Senate this year, Lummis says
The U.S. Senate is unlikely to vote on the bipartisan cryptocurrency bill this year, Republican Senator Cynthia Lummis said Tuesday at the Bloomberg Crypto Summit. See related article: US crypto bill leaves ‘open question’ on securities: Tessler Fast facts “It’s a big topic, it’s comprehensive, and it’s still new to many U.S. senators,” Lummis said […]
The Lummis-Gillibrand bill could reshape global crypto regulations
As a world leader, the US now offers a regulatory template for crypto that others are sure to follow, writes Michael Shing of XREX. Here are the key provisions.
How the crypto winter is laying groundwork for Web3 to reach its potential
Digital assets are powering new industries, and DeFi will be the financial system of the future internet economy, writes Alex Tapscott in his new book, ‘Digital Asset Revolution.’
Why Singapore needs to rethink its approach to regulating crypto
Singapore wants to attract institutional capital while shielding its people from crypto — but it can’t have it both ways, writes Donovan Choy.
Stablecoins, USDC and the ‘Circle of trust’
Investor confidence in stablecoins has plummeted since the Terra fiasco. Circle’s chief of finance assesses how they’re holding up amid a barrage of “FUD”.
What are ecosystem DAOs and why will they be important to Web3?
Decentralized autonomous organizations are spinning off new ways to bring communities together. Will ecosystem DAOs be the wave of the future?
How blockchain technology can transform the mortgage industry
Bad mortgages once dragged the world into a financial crisis. Can smart contracts prevent the worst from happening again?
Three Arrows Capital collapse sends tremors through crypto industry
Top blockchain and crypto news: Three Arrows target bankruptcy protection. Polium’s Web3 game plan pilloried. China’s tech giants get hands-on with NFTs.
As the frenzy fades, what value do NFTs really have?
With NFT trading volumes slumping and regulators stepping in, Vignesh Sundaresan, who paid US$69 million for a Beeple artwork, shares his views on the space.
Grayscale sues SEC over spot Bitcoin ETF rejection
Grayscale Investments filed a lawsuit against the U.S. Securities and Exchange Commission (SEC) within an hour of the markets regulator rejecting an application that would have allowed its spot Bitcoin exchange-traded fund (ETF) to trade on the New York Stock Exchange (NYSE). See related article: Bitcoin ETF rejection could trigger Greyscale to sue the SEC […]