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The Bank for International Settlements (BIS) Innovation Hub announced on Tuesday that its Hong Kong Center will explore this year whether decentralized finance (DeFi) can improve financing for small and medium enterprises. Fast facts In Hong Kong, the BIS has been working with central banks of China, Hong Kong, United Arab Emirates and Thailand on […]

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

The tech-savvy nation is deemed a prime environment to grow the metaverse. What comes next, and will some be left out by a digital divide?

A survey of more than 1,000 digital respondents found 79% of Indians want more clarity on cryptocurrency and non-fungible token (NFT) regulations in the budget session of Parliament starting on Jan. 31, according to new survey findings.  Fast facts The survey, conducted by tax and advisory firm Grant Thornton Bharat, also found that 61% of […]

A federal judge on Monday has given the U.S. Securities and Exchange Commission (SEC) until Feb. 17 to fight her earlier order to turn over to the defendant Ripple Labs certain sensitive government documents in the agency’s lawsuit alleging the XRP token is an unregistered security. Fast facts Ripple and XRP investors initially believed they […]

China’s state-backed blockchain network disclosed eight platform partners today in line with the soft launch of its non-fungible token (NFT) platform, the BSN-DDC network.  Fast facts The auction house Rong Bao Zhai, Hainan International Culture and Artworks Exchange Center — an essential part of China’s free trade port — and EY Blockchain are among the […]

OpenSea NFT marketplace has suffered a front-end attack with the exploiter withdrawing 332 ETH (US$800,000), as reported by security and data tracker PeckShield. Fast facts PeckShield noted the issue overnight Asia time, revealing the attacker received 10 ETH from Ethereum mixer TornadoCash, which was then wrapped to wETH to carry out the attack. The non-fungible […]

Korea will include virtual assets in its financial survey, while China’s central bank hunts for CBDC talents.

Despite Singapore’s reputation as a crypto-friendly hub, the truth is more complicated. Is the city-state purposely keeping out small companies?

The Bitcoin mining difficulty level rose to an all-time high in its latest adjustment on Friday while the total Bitcoin hashrate also reached an all-time-high during a global cryptocurrency sell-off. Fast facts The mining difficulty level rose by 9.32% to 26.64 trillion at block height 719.712, reflecting its most difficult level in history, according to […]

South Korea’s statistics bureau announced on Sunday that it will include virtual assets in its annual household finances report, which can set the stage for incoming crypto tax rules next year. Fast facts Statistics Korea (KOSTAT) will sample 20,000 households on their crypto holdings valued on March 31, but the survey results will not be […]

K-pop fans are waging online campaigns against their favorite artists over NFTs, denouncing the technology’s carbon footprint. How polluting are NFTs?

South Korea envisons itself becoming a top metaverse leader, while Russia’s central bank proposes crypto ban.

Global NFT sales are exploding in 2022, but experts predict this is only the beginning of a bigger surge in Asia.

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?

Though the world’s most powerful central bank does not stake a position, its discussion paper is a big step toward supporting a future US digital currency.

Foxconn Chairman Young Liu said that the Apple parts manufacturer will step up its plans to tap into the metaverse arena this year, the company told local media on Wednesday. Fast facts Liu labelled 2022 as the Taiwanese tech giant’s “first year of the metaverse”. The company sets to incorporate metaverse elements into its product […]

The U.S. Federal Reserve’s report on central bank digital currencies (CBDCs) released on Thursday did not contain policy recommendations or decisions on digital dollar issuance. Fast facts The paper acknowledged that the Fed will not proceed in creating a digital dollar without clear support from lawmakers, ideally through a specific authorizing law. The Fed said […]

The gaming industry suffers from a talent shortage, but blockchain technology and Gen Z’s obsession with self-expression are relieving cost pressures.

The digital yuan is undergoing its final preparations in the leadup to the Beijing Winter Olympics, despite the expected absence of a general audience due to Covid-19 concerns.  Fast facts The People’s Bank of China (PBOC), the central bank, said all payment channels for the 2022 Winter Olympics, including the digital yuan, are set to […]

Several mainland tech giants are launching digital collectibles as a novel gifting option for the Chinese New Year holiday season, which starts Feb. 1. Fast facts Digital collectibles are essentially non-fungible tokens (NFTs), but the term has been discouraged by authorities. Chinese search engine Baidu’s XuperChain has launched its digital collectibles platform, with a series […]

With all the buzz surrounding cryptocurrency, one has to wonder how it is different from traditional money. Watch this short Forkast video explainer to learn about the evolution of money and what makes cryptocurrency like Bitcoin unique. What you’ll learn: How did the financial crisis of 2008 give birth to cryptocurrency? Why is decentralization viewed […]

Google has hired former PayPal executive Arnold Goldberg to run its payments division as the company eyes offering a broader range of financial services including cryptocurrencies. Fast facts “Crypto is something we pay a lot of attention to,” Google’s president of commerce Bill Ready told Bloomberg. PayPal has already incorporated cryptocurrency into its business, recently […]

Alternative approaches to governance have never been more important, writes Alexander Filatov of TON Labs. Here is how DAOs can change the world.

e-CNY transactions surge in China, meanwhile Fusang IPO ‘s get a green light

Top blockchain and crypto news: Asian governments target crypto. Managing MATIC. China’s expanding metaverse.

One of the largest private banks in Pakistan has asked customers to avoid conducting cryptocurrency transactions through its banking channels, according to multiple media reports.  Fast facts Bank Alfalah reportedly has sent SMS alerts to users informing them that cryptocurrencies are not legal tender and no entity is authorized to provide related services in the […]

Cryptocurrency ATM operators in Singapore halted operations on Tuesday to comply with new guidelines issued by the Monetary Authority of Singapore (MAS), the country’s central bank, Bloomberg reported.  Fast facts Crypto ATM operators Daenerys & Co. and Deodi Pte shut their operations down as they await further clarification from MAS.  New central bank guidelines issued […]

The numbers are in: digital yuan’s historical transactions reached 87.565 billion yuan (US$11.238 billion) as of the end of 2021, the People’s Bank of China (PBOC) announced on Tuesday.  Fast facts

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 […]

The total number of legal judgments involving crypto-related crime in China slightly dipped in 2021 to 5,137 cases, as the nationwide clampdown continues, according to a research report.  Fast facts China’s legal system published 5,170 judgments in 2020, a significant leap from 3,474 in 2019, Chinese blockchain data tracker Zhongke Lianan found in its report. […]

Microsoft announced on Tuesday a US$68.7 billion acquisition plan of gaming giant Activision Blizzard as part of its reach for the emerging metaverse market. Fast facts “Gaming is the most dynamic and exciting category in entertainment across all platforms today and will play a key role in the development of metaverse platforms,” said Satya Nadella, […]

Malaysian exchange will offer equity tokens representing direct shares on the blockchain, claiming it will be the world’s first fully regulated equity-token IPO.

Binance partners with Gulf Energy for Thai crypto exchange, meanwhile, Polygon’s upgrade live

Polygon’s upgrade, which piggybacks off Ethereum’s EIP-1559, makes MATIC deflationary while allowing users to estimate gas fees more accurately.

India Prime Minister Narendra Modi called for collective and synchronized global action to tackle the challenges posed by cryptocurrency. Fast facts Speaking at the 2022 World Economic Forum’s annual Davos conference on Monday, Modi said: “The kind of technology cryptocurrency is associated with makes decisions taken by one country inadequate to meet the challenges posed […]

South Korean public broadcaster KBS launched a recreation of its Seoul studio compound on Naver’s Zepeto metaverse on Tuesday, to promote coverage of the upcoming March 9 presidential election. Fast facts Visitors can enter and experience the digital replica of the broadcaster’s news studio, stage sets, take quizzes about the election, stroll around the history […]

Solana-based non-fungible token (NFT) marketplace Burnt Finance, best known for burning then tokenizing street artist Banksy’s artwork, announced on Tuesday an $8 million Series A funding round led by Animoca Brands. Fast facts Other investors in this round include Alameda Research, Multicoin Capital, Valor Capital, Figment, Spartan Capital, HashKey, Terra and Fantom.  Burnt Finance got […]

Savvy cryptocurrency investors now know what the biggest players have long done, writes Michal Cymbalisty of Domination Finance — ‘buying the f* dip!’

Australian Opens just opened in the metaverse and a Chinese university launches a virtual campus.

In the latest sign of growing blockchain adoption, the tennis tournament expands to the metaverse, offering rewards and participation through NFTs.

Binance’s CEO is now the richest Asian man, but the crypto exchange giant’s presence in Asia—where Binance got its start—is withering under regulatory heat.

Pakistan’s top investigation agency is looking to block crypto websites over fraud and money laundering concerns, according to a news report, less than a week after the country’s central bank recommended an outright ban on cryptocurrencies.  Fast facts Federal Investigation Agency (FIA) Director-General Dr. Sanaullah Abbasi said on Saturday the agency would approach the Pakistan […]

South Korean lawmaker Lee Kwang-jae announced on Sunday that he has started accepting political donations in cryptocurrencies. Fast facts Donors can use Bitcoin, Ethereum, Kakao’s KLAY, media industry-focused NEWS, and payments-focused Paycoin, while receipts can be issued as non-fungible tokens (NFTs), according to Lee’s website.  The first donor was an anonymous professional from the blockchain […]

Wuhan, the major city in central China where Covid-19 first emerged, has announced plans to embrace the metaverse in an effort to boost its pandemic-devasted economy. Fast facts The government of Wuhan, the capital city of Hubei province, will push ahead with integrating the metaverse, blockchain, big data, cloud computing, geospatial information and quantum technology […]

Cardano’s ADA edged out Bitcoin as the currency of choice in a Twitter poll posted by Ethereum creator Vitalik Buterin on a hypothetical future without ETH. Fast facts Buterin asked his 3.1 million followers on Friday what currency, aside from Ethereum, they would prefer to be used in 80% of all global transactions by 2035, […]

If you’re intrigued about Bitcoin’s price history or Ethereum’s all-time highs, you might be wondering if you’re missing out on financial gains. To explore how to get started in investing in cryptocurrency, Forkast has created a quick explainer video on what to do and the options. What you’ll learn: What are the two types of […]

China’s Blockchain Services Network rolling out NFT infrastructure, while Palau plans to issue stablecoin.

If 2021 was a breakout year for crypto, this year may mark a similar advance for regulation of the industry, says Caroline Malcolm, Chainalysis’ new policy chief.

The NFT platform crosses $1B in sales volume within a week after launch, but with a controversial incentive structure and so-called ‘vampire’ attack.

The U.S. Federal Reserve is deferring to Congress to decide whether to introduce a central bank digital currency (CBDC), Lael Brainard told the Senate banking committee Thursday at her Fed vice chair nomination hearing. Fast facts Republican Senator Cynthia Lummis asked whether the vice chair nominee believed that the digital dollar should be available to […]

Residents in Beijing recorded 9.6 billion yuan (US$1.5 billion) worth of digital yuan transactions in 2021, after several rounds of coupon-driven promotions, according to state media, citing official data.  Fast facts

A Chinese state-backed blockchain network plans to launch non-fungible token (NFT) infrastructure that has no link to cryptocurrency by the end of this month, one of its creators told Forkast. Fast facts He Yifan, CEO of Red Date Technology, a developer of the Blockchain-based Service Network (BSN), a project to spur mass adoption of blockchain […]

India may soon get its first Bitcoin and Ethereum futures exchange traded funds (ETFs) pending approval by a financial regulator.  Fast facts India INX, the international arm of BSE (formerly Bombay Stock Exchange) and Torus Kling Block Chain IFSC have jointly sought regulatory approval for a Bitcoin and an Ethereum Futures ETF, according to a […]

Palau will issue a stablecoin to support plans for a digital overhaul of its economy, according to its president. Fast facts President Surangel S. Whipps, Jr. said the Pacific archipelago was also working on establishing a crypto exchange, a corporate registry and digital wallets for each resident in its digital revamp. Palau is planning a […]

Online influencers may be improving crypto-financial literacy for millions of people. But regulators have growing concerns.

Traditional banks are not going away and decentralized finance is here to stay, writes Edan Yago of Sovryn. Here’s how an amalgam of the two can take shape.

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

Korean prosecutors demand life, as HK plans new crypto regulation.

Pakistan’s central bank has recommended that all cryptocurrencies should be officially banned in the country, according to multiple local media reports, in response to an ongoing lawsuit before a provincial high court.  Fast facts In a report submitted on Wednesday to the Sindh High Court, which is hearing a case on cryptocurrencies, the central bank […]

A computer database at a supermarket in eastern China is being held hostage by cybercriminals demanding 0.042 Bitcoin, which amounts to US$1,832, according to a Chinese media report. Fast facts

Prosecutors in South Korea are demanding life sentences for seven former executives of a now-defunct cryptocurrency exchange who were charged with defrauding investors of just under US$1.9 billion. The executives are not yet convicted, and the trial judge will deliver a verdict on Feb. 11. Fast facts The executives of V Global allegedly took about […]

An investor is suing Kim Kardashian; boxer Floyd Mayweather, Jr.; Hall of Fame basketball player Paul Pierce, and the cofounders of Ethereum Max for allegedly colluding to promote the cryptocurrency last spring in a pump-and-dump scheme, according to papers filed on Jan 7. Fast facts The investor, Ryan Huegerich, brought the federal suit in the […]

Indian crypto scam investigated meanwhile Korea’s Kakao’s webtoon NFTs sell out

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

The Indian government is mulling the taxation of cryptocurrencies as business income, in a decision which could double the tax burden on investors, according to a local report.   Fast facts Currently, crypto earnings are taxed as capital gains, which stand at 20%, while business income rates reach as high as 42%.  Taxing each crypto transaction […]

Non-fungible tokens (NFTs) based on a wildly popular fantasy action digital comics series backed by South Korean internet giant Kakao have sold out soon after launch on Wednesday. Fast facts The NFTs, launched by Kakao Entertainment, are based on webtoon Solo Leveling, which has amassed a whopping 14.2 billion views globally since its launch in […]

New non-fungible token (NFT) marketplace LooksRare has outsold market leader OpenSea just a day after launch, reaching US$275.5 million in sales volume in the past 24 hours. Fast facts This compares with almost US$120 million in sales volume for OpenSea over the same period, according to DappRadar. Like its main competitor, LooksRare, which launched on […]

The Enforcement Directorate in India seized assets of a businessman worth around US$4.9 million in a money laundering case involving a crypto scam, according to a press release on Monday.  Fast facts Nishad K and his associates allegedly perpetrated a crypto scam in which some 900 investors were cheated out of approximately US$162.4 million. The […]

Developers adopt NFT technology to promote staple video game franchises, but reaction from a number of gamers has been negative.

Taiwanese’s superstar Jay Chou’s NFT dethrones Bored Ape Yacht Club. Meanwhile Bitcoin dips below US$40k mark.

The 2022 crypto market has had a tough start as Bitcoin and Ethereum dipped below significant price points. But crypto experts say it’s not all doom and gloom.