Binance imposes mandatory KYC for all services with immediate effect
Beset by legal and regulatory woes around the world, Binance — the world’s largest cryptocurrency exchange by trading volume — today announced that it is implementing mandatory know-your-customer (KYC) with immediate effect as it steps up its anti-money laundering (AML) compliance. Fast facts All new Binance users are now required to complete “intermediate verification” — which […]
Coinbase launches in Japan: Binance users take legal action
Coinbase launches in Japan while Binance users take legal action
Digital securities exchange ADDX join Investcorp to offer tokenized US real estate fund
ADDX, a digital securities exchange headquartered in Singapore formerly known iSTOX, has partnered with Investcorp, a Bahrain-based alternative investment management firm to offer a tokenized real estate fund focused on residential properties in the United States, ADDX announced on Thursday. Fast facts Investcorp raised US$150 million for the fund that has invested in five multi-family […]
Come next month, will all of South Korea’s crypto exchanges hit a regulatory wall?
Despite a looming compliance deadline, currently there are no crypto exchanges in South Korea that meet the new government reporting requirements to continue operating, according to financial authorities. Fast facts The Financial Services Commission (FSC) revealed through a press release that none of the domestic cryptocurrency trading platforms have successfully complying with the nation’s new […]
Aussie tech entrepreneur offers Bitcoin to those vaccinated against Covid
Finder.com CEO Fred Schebesta is offering AU$5 (US$2.85) worth of Bitcoin to every Australian who is fully vaccinated against Covid-19. Fast facts Announcing the plan on Sydney radio this week, the self-made millionaire said he was looking for a way to contribute to the vaccination effort and thought this could be a way to help. […]
Coinbase partners with Mitsubishi UFG for entry to Japan
The largest cryptocurrency exchange in the U.S. has partnered with one of Japan’s largest banks to gain market entry. What does the move say about the Japanese market as the industry is rocked by yet another crypto exchange hack?
Canadian regulator seeks enforcement action against crypto exchange OKEx
The Ontario Securities Commission (OSC) is seeking to bring an enforcement action against Aux Cayes Fintech Co. Ltd., which operates the OKEx platform, for allegedly violating Ontario securities law, according to a statement. Fast facts According to the statement of allegations filed by the OSC’s enforcement team on Aug. 18, Seychelles-incorporated Aux Cayes — which […]
Thai-listed Brooker Group reports $24 million in crypto holdings in 1H 2021
The Brooker Group, a publicly listed financial consultancy and capital management company in Bangkok, this week reported that it held US$23.86 million of digital assets, according to its financial results for the first six months of 2021. Fast facts The Brooker Group also reported an impairment loss of US$12 million in the first half of […]
Justin Sun’s Weibo account blocked again
TRON founder Justin Sun’s social media account on Weibo, China’s Twitter-like microblog platform, appears to have been blocked again, along with the accounts of several other cryptocurrency-related interests. Fast facts TRON is a blockchain with a cryptocurrency native to the system founded by Sun in 2017. Sun, 31, has been active on social media, and […]
Cardano hits new all-time high as upcoming smart contracts send ADA into new price discovery
Cardano’s Alonzo upgrade is fueling ADA’s price growth into top-3 cryptocurrency. Major crypto players are now also signaling bullishness on Cardano.
Calling Poly Network incompetent, upset hackers refuse to give back remaining $141M
The Poly Network hackers have returned assets worth around US$427 million, the company announced on Thursday. But hackers accused the company of “incompetency” and are refusing to give back the rest of the loot. Fast facts The hackers had transferred the stolen assets worth over US$600 million in total to mutli-signature wallets controlled by the […]
China shuts down website and social media of high-profile blockchain center
China continues its crackdown on certain illegal social organizations, as authorities shut down the website and social media accounts of the China Blockchain Application Center — a organization once led by some of the nation’s most prominent crypto industry leaders, state media China National Radio reported yesterday. Fast facts The China Blockchain Application Center was […]
Aleph.im launches decentralized indexing for Solana
Aleph.im, a cross-blockchain storage and computing network, announced today the release of a decentralized indexing tool for the Solana blockchain ecosystem. Fast facts
Binance users burned by outage band together to take legal action
Crypto traders who suffered losses on Binance due to tech outages are turning to arbitration and crypto litigation finance.
Blockchain investment goes green: Court says bitcoin legally protected
Blockchain investment goes green while Court says bitcoin legally protected
How UN goals are guiding new blockchain ESG investment vehicles
As ESG drives more corporate agendas, Sonic Capital’s Sphere aims to provide access to blockchain investment opportunities toward a greener future.
Thailand publishes CBDC study results, pilot test to start in 2022
The Bank of Thailand today published the results of its retail central bank digital currency (CBDC) study and public survey, which the central bank says will guide the development of the country’s CBDC pilot test. Fast facts The Bank of Thailand underscored that a CBDC for the general public “must not adversely affect monetary policy […]
Shanghai court rules Bitcoin is virtual property, not currency
A district court in Shanghai has ruled that Bitcoin is virtual property, not a currency that is allowed to circulate, according to a statement released earlier this week. Fast facts A Minhang district court in Shanghai stated this week that it heard a case in which a plaintiff purchased Bitcoin mining machines from a defendant […]
Netherlands warns Binance is illegally offering crypto services
The central bank of the Netherlands has issued a warning that Binance — the largest cryptocurrency exchange in the world by trading volume — is illegally operating in the country. Fast facts Binance is providing crypto services in the Netherlands without the required legal registration with De Nederlandsche Bank (DNB), according to the regulator. “This […]
El Salvador’s finance minister says Bitcoin is ‘totally optional’
In what will likely be a relief for many Salvadorans, El Salvador’s finance minister said the use of BTC will remain “totally optional” and businesses will not be sanctioned for not using it when the country’s controversial BTC law comes into effect on Sept. 7, reports Yahoo News. Fast facts The country’s adoption of BTC […]
Poly Network offers hacker a job: NFTs support Afghan families
Poly Network offers hacker a job meanwhile NFTs support Afghan families
Antinalysis hung out to dry. Solana eclipses Uniswap. Alibaba’s auction action.
Top blockchain and crypto news: A darkweb stain is scrubbed away. Solana’s moment in the sun. Alibaba huddles with Tencent.
Shutdown of dark web tool Antinalysis suggests harder times ahead for crypto criminals
Money laundering token tracer developed using AMLBot application programming interface was suspended within eight hours of public exposure.
OpenSea dumps Pepe the Frog NFT series
Despite having verified it, and with investors already spending millions on the project, OpenSea has delisted the NFT series after being notified by its creator.
BIT Mining revenue soars despite losses from operational pivot
Operating costs and crypto bear market suck up cash after former lottery operator bets on digital assets
Led by Vietnam and India, global crypto adoption jumps over 880%
Asia is now tops in the world in cryptocurrency adoption. Vietnam, India and Pakistan are now the top three countries in the world in crypto use — and other Asian countries aren’t far behind, according to Chainalysis’ 2021 Global Crypto Adoption Index published today. Fast facts Thailand, China and the Philippines also ranked in the […]
Indian market regulator asks depositories to use blockchain
The Securities and Exchange Board of India, a markets watchdog, has asked depositories to employ blockchain to record and monitor the creation of securities and covenants involving non-convertible securities, according to a report by Livemint. Fast facts SEBI formed a group in November to suggest ways to strengthen the process of creating and monitoring securities, […]
E-CNY tests ramp up as more banks enable top-up feature
In China, digital yuan testing, which increasingly looks like a soft rollout, is continuing full steam ahead, with more banks allowing their customers to top up their e-CNY wallets. Fast facts An additional 13 banks have started to allow their customers to recharge their wallets directly in the e-CNY app, bringing the total number of […]
Crypto exchanges diving into esports sponsorships to engage young digital natives
Bybit, a cryptocurrency exchange based in Singapore, announced today a multi-year partnership with popular esports team NAVI (“Natus Vincere”), which will display Bybit’s logo on NAVI’s jerseys as well as charity initiatives, school projects, and anti-hate and anti-bullying campaigns. Fast facts “The Covid-19 pandemic has changed many established conventions in a number of human experiences,” […]
Poly Network offers hacker top job as another hacker saves SushiSwap from potential $350M attack
Poly Network wants to hire the hacker who stole over US$600 million worth of tokens from the platform last week — as its chief security advisor, according to a tweet by the company. Fast facts In response to the job offer, the hacker posted a joke on the Ethereum blockchain that was shared in a […]
Binance names new global anti-money laundering chief as it beefs up compliance efforts
Binance — the world’s biggest cryptocurrency by trading volume — today announced the appointment of Greg Monahan, a former U.S. Treasury criminal investigator, as its global anti-money laundering officer, according to a company statement. Fast facts Monahan’s appointment comes as Binance seeks to bolster its compliance efforts amid increasing scrutiny from regulators around the world — […]
BC Group’s OSL digital asset revenues jump 70% in first half
BC Technology Group, a Hong Kong-listed technology digital asset company and parent of OSL, the first licensed digital asset platform in the city, today announced that its group revenues rose 54% year on year to HK$153 million (US$20 million) in the first half of 2021, driven by a 70% increase in OSL’s digital asset business […]
Dogecoin Foundation re-established, Vitalik Buterin now on board
Following a few years of inactivity, the Dogecoin Foundation is being reestablished with Ethereum co-founder Vitalik Buterin serving as the organization’s “blockchain and crypto adviser,” according to an announcement posted Tuesday on the foundation’s website. Fast facts Originally founded in 2014, the non-profit organization aims to support the Dogecoin ecosystem and community with a particular […]
Union Bank of Philippines partners with Hex Trust to enter digital asset ecosystem
Union Bank of the Philippines and Hex Trust, a Hong Kong-based digital asset custodian, today announced that the bank was partnering with Hex Trust to provide digital asset custody services to it as it enters the digital asset sector. Fast facts As part of the collaboration, Hex Trust will provide digital asset custody as an […]
How stablecoins can help investors weather crypto storms
Notwithstanding Iron Finance’s collapse, stablecoins can play important roles for consumers and the economy, writes Julian Hosp of Cake DeFi.
India crypto bill awaits approval; Poly Network hack saga continues
India crypto bill awaits approval while Poly Network hack saga continues
India’s crypto sector on edge as bill that may lead to ban awaits cabinet approval
If cabinet approves crypto bill by November, it could be introduced as early as parliament’s winter session.
Ripple decries SEC’s demand for employee Slack messages on XRP
Ripple claims the SEC’s request for 1 million more of the company’s internal messages is costly and unlikely to resolve disputes at the heart of the litigation.
Digital yuan patent applications on the rise
The number of digital yuan patents is growing, with patent applications related to digital currency numbering 271 since the beginning of last year, data compiled by Mpaypass.com show, as tests of e-CNY continue under the Chinese government’s watchful eye. Fast facts The data shows that the total number of patent applications since 2020 has surpassed […]
Twitter’s Bluesky announces new project lead
Twitter’s much anticipated decentralized social media standard, Bluesky, finally has a project lead in crypto developer Jay Graber, Graber announced yesterday on her own Twitter account. Fast facts Bluesky was announced in late 2019, and Twitter CEO Jack Dorsey said decentralization could address some of the key issues surrounding social media, such as moderation. “Centralized […]
Alibaba launches new auction service as it doubles down on NFTs
Accessibility of Alibaba Auction through Tencent’s WeChat service hints at closer relationship between two longtime rivals.
Poly Network hackers delay handover of stolen assets
The hackers claim that trust issues with the Poly Network team are slowing down the complete handover of stolen assets.
Fitch warns El Salvador’s Bitcoin adoption will drag down credit rating
In another criticism of El Salvador’s planned Bitcoin adoption, global credit scoring agency Fitch Ratings has warned the move will likely adversely affect credit ratings of the country’s insurance sector, due to heightened foreign exchange and earnings volatility risk. Fast facts Fitch Ratings explained in a press release on Monday that once a law comes […]
How NFTs could be the future standard for trading and investing
Non-fungible tokens are taking the art and collectibles world by storm. But more valuable uses for NFTs lie just around the corner, writes Ilja Laurs of Dappscape.
Kakao to spearhead global expansion of Klaytn blockchain from Singapore
South Korean internet giant Kakao this week announced that its newly established non-profit entity headquartered in Singapore — the Klaytn Foundation — will lead the development and global expansion of the Klaytn blockchain, according to a company release. Fast facts The Klaytn Foundation, together with Krust, Kakao’s newly established global accelerator unit, and GroundX, which […]
Microsoft, Alibaba to build antipiracy system on Ethereum
U.S. software behemoth Microsoft is looking to develop anti-piracy measures on Ethereum using research from Chinese internet giant Alibaba and Carnegie Mellon University, according to a paper released by Microsoft’s research department. Fast facts Partnering with Alibaba and Carnegie Mellon, Microsoft says the new system — dubbed “Argus” — will run on a public blockchain […]
Cardano sees inflows of $1.3M amid 6th week of outflows from crypto funds
Digital asset investment products saw outflows of US$22 million last week — the sixth consecutive week of outflows, according to CoinShares, Europe’s largest digital assets fund manager. Fast facts Total outflows for the past six weeks amount to US$115 million and mark the longest run of consecutive outflows since January 2018, CoinShares reported. However, the […]
What is Solana and why is it the hottest blockchain of the moment?
Solana prices are soaring to all-time highs and SOL is now a top-10 crypto. In this Forkast.News explainer, learn why investors are heaping love on this Ethereum rival.
Solana hits all time high: GoSats launches bitcoin reward card
Solana hits all time high as GoSats launches bitcoin reward card
U.S. Treasury eases concerns over crypto reporting requirements
In welcome news for the U.S. crypto industry, the Treasury Department is slated to clarify that only crypto companies that fit its definition of “brokers” will have to comply with new tax reporting requirements outlined in the country’s US$1 trillion infrastructure bill, Bloomberg reports. Fast facts Quoting an anonymous Treasury source, Bloomberg reported that crypto […]
HIVE buys more crypto mining rigs from Bitmain, adding to Canaan deal
HIVE Blockchain Technologies, a Vancouver-headquartered crypto mining company, is buying 1,800 machines from Chinese mining rig maker Bitmain to expand its mining operation. Fast facts HIVE said that it had ordered 1,800 Antminer S19j Pro miners from Bitmain, and the new machines are expected to bring an aggregate hash power of 180 petahash per second, […]
Tencent unit QQ Music sells first NFTs
Chinese tech giant Tencent’s music streaming arm, QQ Music, has jumped on the non-fungible token bandwagon and over the weekend sold out its first NFT featuring popular Mando-pop singer Tiger Hu. Fast facts QQ Music, one of China’s major music entertainment platforms, plans to roll out a slew of music NFTs. Over the weekend, all […]
Cardano ADA breaks $2 for first time since May as Alonzo launch date announced
Cardano breached the US$2 mark for the first time in almost three months as key developers announced a release date for the planned “Alonzo” hard fork on Friday, which will allow full smart contract functionality on the network. Fast facts Slated for full release on September 12, the upgrade to Cardano’s mainnet completes the Alonzo […]
Asia leads world in crypto investment, report says
Asian nations are leading the world in retail crypto investment, according to a recent report by Finder.com, which found that of 27 countries surveyed, the top five were all in Asia. Fast facts Vietnam was by far the leader in crypto adoption, with 41% of respondents saying they owned at least one cryptocurrency. Indonesia and […]
Solana leads altcoin surge as SOL price hits new all-time high to flip Uniswap
Solana price hits new record and enters top 10, beating Uniswap, following launch of blockchain communication bridge Wormhole and sellout debut of Degenerate Ape NFTs.
Polygon acquires Hermez Network for US$250M
Hermez Network, a prominent zero-knowledge cryptography-based scaling project, will merge with India-based Polygon, an Ethereum scaling project, Polygon announced on Friday. Fast facts Polygon has initiated the process of merging Hermez, including its technology, team, live solutions and HEZ tokens into its ecosystem. Hermez will operate under the name Polygon Hermez as a part of […]
India gets Bitcoin rewards cards with backing from crypto-averse central bank
GoSats, an Indian Bitcoin rewards app, has launched a new cash back card that will allow Indians to earn up to 100% of their spending in Bitcoin and provide a chance to win one full Bitcoin on every spend, GoSats announced in a tweet. Fast facts The GoSats prepaid RuPay debit cards will be released […]
Why Silicon Valley is pouring big money into India’s crypto industry
While Delhi goes back and forth over a crypto ban, crypto’s huge growth potential in the world’s second most populous country is captivating American venture capital.
Report: Ethereum is most popular cryptocurrency in Singapore
As cryptocurrencies gain increasing adoption, the profile of crypto investors in Singapore — one of Asia’s biggest hubs for traditional finance as well as the emerging crypto industry — is broadening from younger investors to mature investors who see crypto as a viable long-term investment, according to the State of Crypto in Singapore report published today. […]
Polygon makes the case for scaling solutions after ETH 2.0
London hard fork is live and Ethereum users are hoping high gas fees will be a thing of the past. Will ETH improvements phase out layer-2 scaling protocols? Polygon’s co-founder thinks not.
Poly Network recovers assets; Rario launches cricket NFT platform
Poly Network recovers assets meanwhile Rario launches cricket NFT platform
Cryptocurrency vs. gold — which is the better investment?
Gold and cryptocurrency have more in common than not, and savvy investors would do well to hold both, writes Sylvia Carrasco of Goldex.
Blockchain, crypto investment soars in H1 2021
Global investment in blockchain and cryptocurrencies leapt in the first half of 2021, with US$8.7 billion raised and 548 deals sealed, according to consulting firm KMPG’s latest Pulse of Fintech H1’21 report. Fast facts Global fintech investment in H1 2021 reached US$98 billion in 2,456 deals, compared to US$121.5 billion for the whole of 2020, […]
Iran tax authority pushes to legalize crypto exchanges
In a position seemingly at odds with the remainder of the country’s government, the Iranian National Tax Authority has proposed legalizing digital asset exchanges in order to better collect tax from them, according to local media outlet Eghtesad News. Fast facts The INTA also warned that imposing overly stringent regulation on the sector could have […]
Samsung joins South Korean pilot to test CBDC on Galaxy smartphone
Samsung Electronics will participate in the Bank of Korea’s central bank digital currency pilot program to test the practicalities of digital currency remittances without internet availability, according to a report by the Korea Times. Fast facts An unnamed source familiar with the issue told the Korea Times: “Samsung Electronics has recently decided to participate in […]
Chinese payment giant Alipay finds buyers for new NFTs
Alipay, one of China’s major payment apps, has again rolled out non-fungible token artworks designed as wallpapers for users’ payment code pages, with a total of 80,000 copies of two editions combined having sold out within a day. Fast facts Alipay yesterday started selling two editions of artworks — built on its own Ant Chain […]
Mawson buys more mining rigs from Canaan to expand in Australia, U.S.
Mawson Infrastructure Group, an Australian cryptocurrency mining company, has purchased an additional 17,352 ASIC Bitcoin mining machines from Chinese rig maker Canaan in a move to bolster its mining operations on its home turf and in the United States. Fast facts Mawson plans to deploy the additional machines — Avalon A1166s and A1246s — purchased […]
Poly Network hacker returns remaining assets, offered US$500K white hat bounty
Poly Network has confirmed that all its remaining stolen assets on Ethereum, worth around US$269 million, barring US$33 million worth of Tether that was frozen post-attack, have been returned to a multi-signature wallet controlled by itself and the hacker. Fast facts The hacker had returned more than 50% of the assets stolen on the Polygon […]
Argentinian president tangos with Bitcoin despite central bank warning
Argentinian President Alberto Fernandez has indicated he is open to adopting Bitcoin as legal tender and a central bank digital currency, according to a media report yesterday, just two days after the head of the country’s central bank, Miguel Pesce, described cryptocurrencies as a threat to economic stability. Fast facts During an interview with media outlet Caja […]
Cricket NFT platform Rario launches on Polygon
Rario, an officially licensed cricket non-fungible token startup built on the Polygon blockchain, has announced its integration with Polygon’s NFT platform, Polygon Studios. Fast facts Polygon Studios, an NFT-focused gaming and metaverse hub, was launched last month by Indian Ethereum scaling platform Polygon to facilitate Web 3.0 gaming and fuel mainstream adoption of NFTs. It […]
Poly Network assets returned; OKEx lists Baby Doge
Poly Network assets returned also OKEx lists Baby Doge
TZ APAC in Tezos blockchain adoption push in Asia
TZ APAC, an entity supporting the Tezos blockchain ecosystem in Asia-Pacific, this week announced a “strategic commitment” to the region as it bolsters its efforts to grow the Tezos ecosystem. Fast facts TZ APAC intends to deploy capital and resources across the region towards business development, marketing and project management to drive adoption of the […]