Search results: protection

People.cn, the online arm of the Communist Party of China’s party newspaper People’s Daily, launched a “digital collectibles” NFT gallery on Tuesday and hinted that it might launch artwork trading, even though authorities in the past have criticized the non-fungible token (NFT) market for its hype and speculative behavior by investors. Fast facts “Digital collectibles” […]

Crypto regulations run the gamut from wait-and-see to total prohibition. What are the dos and don’ts of smart regulation?

The top contenders jockey for position on initial coin offerings and other blockchain-based innovations. How did crypto become a critical factor in the race?

A pro basketball player and an ex-banker are aiming for a slam-dunk with a ‘creator first’ content platform. Calaxy co-founder Solo Ceesay explains how.

Hyundai Card vice president Chung Tae-young said on Wednesday the rise of NFTs (non-fungible tokens) and the metaverse is helping crypto to move past the Dutch tulip mania stage. Fast facts “Although there might be ups and downs, it seems cryptocurrencies are passing the ‘Dutch tulip stage,’” Chung wrote in a Facebook post.  Hyundai Card, […]

Presidential candidates from South Korea’s democratic and conservative parties have said on Wednesday that initial coin offerings (ICO) should make a comeback in the nation, as crypto continues to be a key theme in the March elections. Fast facts ICOs have been banned by financial regulator in South Korea since 2017 in a booming cryptocurrency […]

Stablecoins and CBDCs will likely co-exist in the city, experts say, as Hong Kong looks to thrive as crypto hub.

Top blockchain and crypto news: Bandwidth bust in Kazakhstan. Binance chief CZ tops rich list. Digital yuan app adoption grows.

Christopher Giancarlo, AKA CryptoDad, expects legislators to get comfortable with crypto in 2022 and take a progressive approach to regulation

Cryptocurrency is fueling crimes like malicious mining and ransomware attacks, writes Andrew Brandt of Sophos. What can a company do to protect itself?

In South Korea, a new presidential administration will be chosen in March. Here’s where the four major candidates stand on Korea’s booming virtual asset space.

In South Korea, virtual asset investors with more than 500 million Korean won, or approximately US$418,935, worth of crypto assets in overseas accounts must report to their regional tax authorities beginning in 2023. Fast facts According to a new year guidebook by the Ministry of Economy and Finance, any resident or domestic corporation with overseas […]

The world’s largest crypto exchange continues struggling to stay compliant, but it has seen some luck in the Middle East.

Perianne Boring of the Chamber of Digital Commerce sees agencies elbowing each other to oversee the crypto industry while investors start to pay big taxes.

A regulatory hurricane swept away half of South Korea’s crypto exchanges in 2021. Who are the survivors — and are there larger lessons for the rest of the world?

From China’s ban to FATF’s travel rule, crypto regulations have been top of mind this year. How might regulatory impulses and current trends play out?

While increasing crypto adoption was predictable, 2021 also saw much that was unexpected. Here are the events that shocked even crypto natives.

Global shifts are underway in crypto regulations, writes Huong Hauduc of Bequant. How might the political and market forces play out next year?

With Ethereum usage at all-time high, a Cosmos ‘bridge’ to other blockchains and Mastercard rollups aim to solve a major problem plaguing the Eth network.

Four of Japan’s virtual currency firms established the Japan Metaverse Association (JMA) yesterday with aims to promote metaverse technology and improve the framework for implementing user protection measures. Fast facts The Japan Metaverse Association aims to help the country become a forerunner in the race toward the metaverse by collecting and sharing essential information from […]

As part of a broader attempt to address Australia’s payments industry, the government offers a roadmap to where crypto regulation can lead in 2022.

With suitable regulation in place, DeFi could yet play an important role in the financial system, BIS suggests.

Bilibili — one of China’s biggest video sites particularly known for its content dedicated for anime, comics and games fans — is testing its blockchain UPowerchain that could help the company build its metaverse business, as Chinese tech giants are sparing no efforts to enter the metaverse space. Fast facts Bilibili has confirmed with Forkast.News […]

Tourism officials want to attract more crypto-wealthy travelers to Thailand’s shimmering shores. But will the crypto faithful come if Thailand still has a ban on SHIB and Dogecoin?

But the head of the central bank’s digital currency research institute says issues remain such as technical standards for blockchain interconnectivity.

Singapore-based crypto exchange had claimed the fan token would support BTS members — while the band’s agency denied any association with it.

Supply chain woes are deepening as seasonal consumer demand meets a logistics logjam. Dennis Delgado of SyncFab explains how blockchain can help. 

Sohn Byung-doo, chief executive officer for Korea Exchange (KRX), urged South Korea to prepare an institutional infrastructure as virtual assets have become a major investment asset in the country. Fast facts In his speech at the 2021 Global ETP Conference, Sohn insisted that the “virtual asset market is no different from the capital market in […]

Top blockchain and crypto news: Are India’s CBDC plans crowding out crypto? Jack Dorsey goes full Bitcoin bro. China’s digital yuan hopes claim another victim.

Tether, issuer of the world’s most popular stablecoin USDT, has responded in multiple tweets saying it will work with policymakers, after the U.S. Senate Banking Committee earlier this week sent letters to several stablecoin issuers — including Tether — to inquire about their operational features. Fast facts In the tweets, Tether said it appreciates the interest from […]

The U.S. Senate Banking Committee has sent letters to several stablecoin issuers to inquire about their operational features. Fast facts In a Monday tweet, Ron Hammond, director of government relations at the Blockchain Association, said the stablecoin issuers include Coinbase, Gemini, Circle, Paxos, TrustToken, Centre, Binance U.S. and Tether. “This is likely a sign of […]

India proposes crypto ban meanwhile Metaverse race heats up

Top blockchain and crypto news: Fed nominations suggest no sudden moves. El Salvador’s Bitcoin lava affair. Dodgy dealings in China’s digital yuan.

Three U.S. agencies released a joint statement outlining a plan to fast-track crypto-asset regulation in 2022.

The US Infrastructure Act has provisions that should make crypto advocates shudder, writes Alex Shipp of Offshift. Who will stand up for crypto’s core values?

South Korea’s Bithumb exchange has been officially registered under the Financial Intelligence Unit (FIU). This makes all four major exchanges of the country licensed to operate virtual assets including cash-to-crypto services. Fast facts The FIU announced on Nov. 19 it has registered Bithumb as an official virtual asset business. The country’s other three major exchanges […]

The securities markets regulator ordered $3.85B in fines, while new actions included ‘emerging threats’ in the crypto industry.

The promise of financial democratization forms the bedrock of DeFi’s appeal. But who’s in charge — and who to hold responsible when things go south?

Billions have been stolen through hacks from decentralized finance protocols, with Ethereum seeing the bulk of losses, according to a report by Elliptic.

Central banks around the world are exploring digital currencies, writes Aymeric Salley of StraitsX. Here’s why Southeast Asia may be especially ripe for them.

Top blockchain and crypto news: Spot ETFs stymied as SEC stands firm. Is Bitcoin’s Taproot upgrade worth the wait? China’s crypto mining goes underground.

While the government has yet to figure out the details, a crypto regulatory regime is expected to be released before February.

Developing regulations for decentralized finance is easier said than done. Attorneys Victor Ho, Andre Da Roza and Saranpaal Calais discuss the many legal and practical hurdles.

The U.S. Securities and Exchange commission halted the token registration of American CryptoFED, the first legally recognized decentralized autonomous organization in the U.S. Fast facts Wyoming-based American CryptoFED became the first DAO in the U.S. to achieve legal status in July after Wyoming passed a law that recognized DAOs as limited liability companies. A DAO […]

Panel looks at best practices in news coverage from Decrypt Media, CoinDesk, South China Morning Post.

FTX founder and CEO Sam Bankman-Fried says building products that people want is what matters most, and the crypto industry and regulators will need to find compromises to resolve some of the industry’s pressing issues.

While El Salvador carved out its place in history as the first country in the world to adopt Bitcoin as legal tender, there are others that may follow for an array of reasons.

Mastercard has partnered with three crypto companies in Asia Pacific — Hong Kong-based Amber Group, Bitkub in Thailand, and CoinJar in Australia — to launch crypto-funded payment cards, according to a Nov. 8 media statement. Fast facts The three companies are the first APAC-based cryptocurrency platforms to join Mastercard’s global Crypto Card Program, which enables […]

The familiarity of centralized systems may feel comforting, but decentralized technologies like blockchain are the wave of the future, writes Corey Petty of Status.

Lee Jae-myung, the ruling Democratic Party’s candidate for the upcoming presidential election in South Korea, may include in his election pledges setting up a government sector dedicated to supervising the virtual asset industry. Fast facts It is reported that Lee is considering including a plan in his presidential campaign to set up a unit similar […]

Police crack a tele-fraud case related to digital yuan money laundering, potentially thanks to the CBDC’s ‘managed anonymity’ feature.

Pay-for-play on Web 3.0 will instigate seismic shifts from centralized social media to community-driven platforms, writes Solo Ceesay of Calaxy. How would it work?

The highly awaited report outlines recommendations for stablecoin regulation and asks regulatory bodies to combat risks until Congress introduces new laws.

This follows an attack on Cream Finance that also resulted in a $130M hack.

This appears to be the third hack for the protocol this year — yet the biggest one so far.

Tech giants banish non-fungible token references as Beijing looks down new virtual asset market.

While the government signals it is ready to promote the industry, the country’s banks remain unimpressed. ANZ has already settled its de-banking case with Allan Flynn, but as the tribunal with Westpac concluded over the weekend, what should we expect from the outcome?

Proshares files for exemption meanwhile Shiba Inu hits all-time high

Australia’s Senate report into fintech regulations includes 12 recommendations for a clear digital assets framework.

The Senate unveiled its most comprehensive look at blockchain regulation, hoping to transform the country into a global industry leader.

Chinese e-commerce giant JD.com is giving away free non-fungible tokens (NFTs) to those who sign up for its annual technology conference JD Discovery, in a move to jump on the NFT bandwagon following its rivals Alibaba and Tencent. Fast facts JD.com’s tech arm JD Technology said yesterday in a social media post it is giving […]

Top blockchain and cryptocurrency news: Bitcoin grows up. Facebook’s metaverse journey. China’s crypto investors find a workaround.

Chinese find ways around crypto ban meanwhile ANZ settles debanking case

Estonia revoked more than 70% of all crypto licenses last year. Its recently appointed anti-money-laundering chief wants to nullify the rest.

Traditional finance evolved over centuries while DeFi is coming into its own in a few years, writes Adi Ben-Ari of Applied Blockchain. Are its risks inevitable?

As luxury brands eye the virtual realm, Zilliqa co-founder Max Kantelia looks forward to a convergence of desirable objects and digital opportunities.

In this special Q&A, industry leaders tell Forkast.News why global stablecoin regulations can help catalyze crypto adoption.

In spite of ongoing regulatory issues, cryptocurrency lender Celsius Network has raised US$400 million in an investment round pegging the valuation of the company at US$3 billion. Fast facts The funding was led by U.S. growth equity firm WestCap and Caisse de dépôt et placement du Québec (CDPQ), a global investment group.  Celsius will use the funds to […]

As non-crypto players like Twitter and PayPal take up digital assets, Coinbase, Binance and others look for ways to expand offerings.

As international regulators seek to implement oversight, crypto industry players say it is a positive sign that regulators are now considering including stablecoins in banking regulations.

Officials are concerned that many investors may not be aware crypto trading is taxed in a similar way to share trading.

Kazakhstan blames its newly settled crypto miners for power shortages as South Korea’s largest exchange is accused of listing faulty tokens for profits.