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China’s Zhengzhou city issued a set of policy proposals Wednesday to support metaverse companies, including a 10 billion yuan (US$1.42 billion) metaverse fund.

Opinions about Web3 gaming remain divided, but it’s undeniable that NFTs and GameFi offer players big opportunities, writes Ramona Ciocea of Protokol.

Surge of interest in AI chipmaker Nvidia extends to crypto, Binance and Blur vie for top NFT lender spot, while uncertainty abounds over U.S. debt talks.

Top blockchain and crypto news: Asia’s crypto hub race. Is US debt ceiling fight a boon or a bane for crypto? China’s red carpet for metaverse investment.

Hong Kong is the most crypto-ready jurisdiction in the world, based on the number of blockchain startups per 100,000 people and the number of crypto ATMs proportional to the population, according to a new study by forex education platform Forex Suggest. 

South Korean lawmakers unanimously approved a new bill requiring public officials to disclose their crypto holdings to be implemented in December.

All top 10 non-stablecoin cryptocurrencies fell, as investors assess macro sentiment.

Japan will introduce strict anti-money laundering rules on cryptocurrency transactions from June 1, the Southeast Asian nation’s cabinet decided on Tuesday.

Just how decentralized are today’s DAOs? When compared to the world’s largest transnational corporations, not so much, says Pat Rawson, co-founder of Web3 innovation network Curve Labs.

China’s Nanjing City launched a state-backed organization on Monday to promote and enhance metaverse studies throughout the nation.

Only 4.2% of South Korean citizens have said that they regularly use metaverse services, a recent survey results show.

For crypto to grow for the long term, the industry must show greater respect for global standards that combat crime, writes Slava Demchuk of AMLBot.

While U.S. regulators continue debating over whether cryptocurrencies are securities or commodities, the digital assets industry is being pleasantly welcomed by several Asian cities. And the competition is really hotting up now.

Seychelles-headquartered cryptocurrency exchange Bitget announced on Tuesday that it successfully registered as a virtual asset service provider in Poland.

Hong Kong will allow licensed cryptocurrency trading platforms to offer services to retail investors and will implement a slew of measures to protect individual traders, the Securities and Futures Commission (SFC) said on Tuesday.

Cryptocurrency wallet Ledger’s new update allows governments to access users’ seed phrases via subpoena, said Pascal Gauthier, the chief executive officer of Ledger. 

Bitcoin gained 1.71% and Ether climbed 2.35%. Polygon gained the most in 24 hours followed by Tron.

As U.S. regulators file lawsuits against cryptocurrency platforms, prompting some digital asset companies to seek more favorable jurisdictions, a fleet of cities in Asia are putting out the welcome mat, seeking to attract the jobs and investment that Web3 technologies promise. Right now, Hong Kong seems to be grabbing the limelight, but it has competition.

Stablecoins are a key part of the crypto ecosystem, but banks like JPMorgan are now exploring deposit tokens as an alternative. Which is better, and why?

A South Korean ruling party lawmaker proposed all public officials and candidates disclose their crypto holdings in a new bill unveiled last Friday.

Circle Vice President of Global Policy Corey Then says he is optimistic that U.S. regulatory developments can eventually benefit local players despite ongoing scrutiny.

Ripple Labs has launched a new payment platform for a central bank digital currency in Hong Kong.

Electric vehicles remain rare in developing countries because of high costs and ‘range anxiety,’ writes George Cox of eTukTuk. Here’s how blockchain technology can remove those barriers.

Top blockchain and crypto news: Fighting words over USDT erupt on Twitter. Litecoin surges amid memecoin fever. Chinese city bids for blockchain business.

Rollout of the central bank digital currency in Hong Kong is a potential game-changer and a move that others may soon look to follow.

Conflux Network and China Telecom on Tuesday unveiled their first blockchain-based SIM card, which will be piloted in Hong Kong.

Bitget is looking to hire 300 more people across operations, compliance, research and development, and customer support, the cryptocurrency exchange said.

In a new report, U.K. lawmakers suggest treating Bitcoin and Ether like gambling due to significant consumer financial risks.

China’s top legal authority issued a commentary on Monday about the risks and potential in NFTs, highlighting the need for legislation.

Web3’s terrible user experience, scams and lack of diversity could be solved if its leaders take a cue from environmentalists and ‘act locally,’ writes Tim Williamson of NieuxCo.

European Union finance ministers unanimously approved MiCA, a set of cryptocurrency rules aiming to reshape the digital asset industry across the EU bloc.

As part of the ongoing legal dispute between the two, the U.S. Securities and Exchange Commission said it would not be hurried into a response to Coinbase demands.

Crypto users need not fear the increasing KYC/AML requirements around the world and loss of privacy, writes Kurt Hemecker of the Mina Foundation. Here’s why.

Fractionalizing assets on the blockchain opens up investment opportunities for the public and the capital market’s access to liquidity, writes Bob Ras. Here’s what’s holding it back.

Regulatory hurdles have once again hit Binance in North America, with the world’s largest cryptocurrency exchange announcing on Friday that it would cease operations in Canada due to tightened crypto rules.

The U.S. is resisting digitization of the dollar due to it being a threat to the country’s dominance over traditional financial system, said Christopher Giancarlo, former chair of the Commodity Futures Trading Commission (CFTC) and author of “Crypto Dad: Fight for the Future of Money.”

Binance.US is reportedly exploring ways to cut founder Changpeng Zhao’s ownership stake in the company, The Information reported on Thursday, citing two sources familiar with the matter.

Japan was an early believer in blockchain and cryptocurrencies until exchange hacks brought a crackdown. But that was then. Now the government has become a crypto cheerleader.

Bitcoin prices slid under US$27,000 on Friday morning in Asia. Ether fell below support at US$1,800 as all top 10 non-stablecoin tokens retreated.

Animoca Brands revealed US$2.7 billion in off-balance sheet token reserves in its latest unaudited financial update.

Top blockchain and crypto news: Memecoin fever strains BTC network. Binance slams brakes on Bitcoin withdrawals. Chinese court allows crypto for repaying debt.

The three-day NexTech Week trade show kicked off Wednesday in Tokyo, celebrating all things technology, including blockchain and Artificial Intelligence.

China’s national blockchain research center was launched in Beijing on Wednesday and plans to train over 500,000 blockchain professionals for the country.

Bitcoin fell on Thursday morning in Asia to trade around the US$27,500 mark. Ether led the losers in the top 10 non-stablecoin cryptocurrencies.

Cryptocurrency firms moving to Hong Kong should expect tight regulations as part of the city-state’s new regulatory regime, said Eddie Yue.

It’s currently fashionable to publicly knock blockchain gaming, but behind closed doors, a growing number of developers are realizing its potential, writes Tim Dierckxsens of Venly.

NFTs are changing in-game item ownership and value, yet the gaming industry remains skeptical. With microtransactions set to exceed $76 billion this year, it’s time for gamers to understand the benefits of NFT technology.

India is not against the blockchain technology, but currencies have to be monitored by either the government or the central bank, Finance Minister Nirmala Sitharaman said on Saturday. 

Bitcoin fell in Monday morning trading in Asia after failing to breach the US$30,000 ceiling over the weekend. Ether dropped below the US$1,900 mark.

In the second installment of a three-part interview series, Geoff Kendrick, head of crypto research and EM FX West at Standard Chartered Bank, talks altcoins, stablecoins and the legitimization of crypto risk through central bank digital assets.

Bitcoin inched above US$29,000 on Friday, as concerns over the health of the banking system have been reignited. Industry experts tell Forkast that banking troubles could fuel Bitcoin values, which face significant resistance above US$29,500.

Kenya plans to impose a 3% tax on the transfer of digital assets for the coming budget year

Henan Cultural Tourism Investment Group, a state-owned investment enterprise in Central China’s Henan province, has set up a 150 million yuan private equity investment fund to finance metaverse ventures.

Many tokenized platforms have grave shortcomings, but if better standards could be adopted, the improved transparency can avert future crises, writes Ralf Kubli of the Casper Assn.

Bitcoin dipped below US$29,000 in Friday morning trading in Asia as rate hikes in Europe sent uncertainty to investors. Ether fell below US$1,900.

Andrew Webber of Digital Power Optimization says more renewable energy would get built “if it was more profitable” and that’s where Bitcoin mining can help.

Bitcoin and Ether rose in early Thursday morning trading in Asia, with most other top 10 non-stablecoin cryptocurrencies mixed.

The administration of U.S. President Joe Biden is campaigning for a tax on cryptocurrency miners equal to 30% of the cost of the power they use, citing what it calls “negative spillovers” from the industry.

Bitcoin and Ether gained ground in Wednesday morning trading in Asia, with most other top 10 tokens mixed. Litecoin gained, BNB was the biggest loser.

Temasek, Singapore’s state-owned investment firm, has denied that it had invested in Array, an algorithmic cryptocurrency developer.

Bitcoin dropped 2.09% in Tuesday afternoon trade in Asia while Ether lost 0.81%. BNB fell 2.93% and Polkadot declined 2.66%.

Bitcoin dipped to US$28,000 in Tuesday morning trading in Asia and then fell through that support line later in the morning. Ether and other top 10 cryptocurrencies also fell.

CFTC and SEC disagree over whether cryptocurrencies are securities, and two big lawsuits clouding the industry’s future invoke laws that long predate the digital era.

Seychelles-based cryptocurrency exchange Bitget expects more clarity on Hong Kong’s licensing regime from June as the city pushes ahead with plans to attract blockchain and cryptocurrency entrepreneurs.

Bitcoin dropped below US$29,000, while Ether fell below US$1,900 on Monday afternoon in Asia. Binance’s BNB was the only token in the top 10 cryptocurrencies to rise.

How would layer 3 improve upon what layer-2 protocols do, and what barriers does this emerging technology still need to overcome? Tony Cheng of Foresight Ventures explains.

Bitcoin edged up on Monday morning in Asia to hold above US$29,000. Ether fell below US$1,900. Most other top 10 non-stablecoin tokens traded lower except BNB.

Coinbase said the Securities and Exchange Commission seems to be undermining its own role as the monitor of companies registering to sell shares to the public

Bitcoin rebounded from US$27,000 multiple times this week. Uncertainty over U.S. regulation and geopolitical tensions may continue weighing on the crypto market, industry experts told Forkast.

Arthur Yuen, Deputy Chief Executive of the Hong Kong Monetary Authority, urged local lenders to provide banking services to regulated crypto firms.

The current US approach to regulating crypto flies against its history of supporting tech innovation and undermines its own national interest, writes Hamilton Keats of Krayon Digital.

Top blockchain and crypto news: Coinbase in court to force SEC’s hand. PEPE surge lifts memecoin mood. China paves CBDC path with payroll.