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Cryptocurrency exchange Crypto.com and Line Xenesis — the crypto asset and blockchain-related business developer of Japanese messenger app Line — have signed a memorandum of understanding to boost crypto innovation in Asia-Pacific and the global industry. See related article: Singapore-based Crypto.com gets preparatory license to expand services in Dubai Fast facts

Bitcoin traded flat on Wednesday morning in Asia as risk-aversion remained the market theme, though the token managed to hold above US$29,000.

Bitcoin fell on Tuesday morning in Asia along with most major cryptocurrencies on speculation the U.S. regulator will appeal a decision in the Ripple case and enthusiasm waned for a Bitcoin ETF.

Delio halted interest payments for all users on Monday, after announcing difficulties in providing services as usual.

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.

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

Shanghai on Tuesday published a set of guidelines to promote use of blockchain, the digital yuan, and the metaverse in the city’s legacy industries.

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.

Police in China’s Shanxi Province made 21 arrests in relation to an alleged USDT money laundering scheme amounting to over US$54 million.

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.

Shinhan Bank, the second largest bank in South Korea, and SCB TechX, the technology unit of Siam Commercial Bank, the oldest bank in Thailand, announced on Tuesday that they completed a second stablecoin transaction trial on the Hedera, a public distributed ledger network. 

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.

The Financial Stability Board (FSB) published on Monday a global regulatory framework for crypto-asset activities to provide a global regulatory and supervisory foundation for crypto. The recommendations made to the G20 – the 20 leading economies of the world – are based upon the principle of “same activity, same risk, same regulation.”

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

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, 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.

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

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.

Zebedee, a New Jersey-based payments technology firm, will allow Minecraft players to earn Bitcoin by completing in-game quests.

Bank of England governor Andrew Bailey said Bitcoin and other cryptocurrencies don’t meet standards to be recognized as money.

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.

South Korea on Monday held the first preliminary hearing for Terraform Labs co-founder Daniel Shin and seven other former employees on charges related to the collapse of the Terra-Luna crypto project.

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

Crypto buying subsided as the U.S. regulator made no official comment on Bitcoin exchange-traded fund (ETF) applications and executives quit Binance, the world’s largest crypto exchange.

Bitcoin fell below US$30,000 on Friday morning in Asia as traders took profits amid worries about interest rate hikes in U.S. markets.

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

Bitcoin and Ether rose during Thursday afternoon trading in Hong Kong, while most of the top altcoins were mixed, as investors await the U.S. Securities and Exchange Commission’s (SEC) response to spot Bitcoin ETF applications. See related article: Weekly Market Wrap: Bitcoin breaches US$31,195 following Fidelity’s spot Bitcoin ETF application Bitcoin, Ether rise, top 10 […]

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. 

For years, crypto and NFT investors enjoyed tax advantages that holders of stocks and bonds do not have, but legislation on the horizon could end that loophole.

Bitcoin and Ether traded little changed on Wednesday morning in Asia, while the rest of the top 10 non-stablecoin cryptocurrencies 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.

Cryptocurrency service providers in Singapore will have to keep customer assets under a statutory trust before the end of the year, for safekeeping purposes, the city state’s central bank announced Monday.

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.

Bitcoin traded flat above US$30,000 while most other leading tokens were mixed. Litecoin and Solana saw the biggest gains among the top 10.

South Korea approved a bill to protect cryptocurrency investors as part of building the country’s first legal framework devoted to digital assets.

Bitcoin briefly rose to US$31,195 after Fidelity filed its spot Bitcoin ETF application. Can the wave of institutional interest keep Bitcoin above US$30,500?

Ripple Labs’ Asia-Pacific branch is offering digital payment services in Singapore after receiving in-principle approval of its license application from the MAS on June 22. What does that mean for the company’s Asia business?

Cyptocurrency investor sentiment continues to improve with Litecoin posting strong gains as its halving event in August gets closer.

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

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.

China Mobile, a leading telecommunication company of China, launched a metaverse alliance on Wednesday, whose members include Huawei, Xiaomi and Unity China. 

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.

Bitcoin slipped 0.04% but remained above US$30,000. Ether fell 0.97% to US$1,875.

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.

Five countries in South and Southeast Asia now rank in the global top 10 for cryptocurrency adoption, embracing DeFi and defying government attempts to discourage crypto use. Is this a harbinger of larger trends to come?

Bitcoin slipped in directionless trading while Ether retreated, but both held gains for the past seven days. Most other top 10 tokens lost ground, led by Solana, while Tron was in the green as markets entered the last trading week of June.

Bitcoin prices drop 1.04% to US$30,416 in 24 hours, while Ether fell 0.98% to US$1,893.

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

Bitcoin held ground above US$30,000 following a week of traditional financial institutions showing interest in financial instruments that include the token. The U.S. regulator approved the first leveraged Bitcoin Futures ETF on Friday.

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.

Bitcoin traded above US$30,000 to hold onto the strong gains made this week on the back of growing institutional interest in the token as an emerging asset.

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 Asia-Pacific arm of San Francisco-based technology firm Ripple Labs saidThursday it received in-principle approval to start offering digital payment services in Singapore.

Bitcoin breached US$30,000 in Thursday morning trading in Asia, leading gains across all top 10 cryptocurrencies by market capitalization.

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.