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Coinbase, the publicly listed largest cryptocurrency exchange in the U.S., opened its offshore derivatives exchange in Bermuda on Tuesday.

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.

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

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

Binance said it has more than 700 employees in its compliance team, which includes 170 staff working to combat crypto fraud.

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.

Hong Kong’s Web3 industry can look forward to more regulatory clarity, with the city set to release its cryptocurrency exchange licensing framework in May

Bitcoin rose above US$29,000 on Thursday morning in Asia, rebounding from an earlier drop. Ether gained. Other top 10 non-stablecoin tokens traded mixed.

The lack of clarity in crypto rules in the U.S. not only affects exchanges but also this U.S.-based blockchain gaming company, John Linden said.

South Korea’s legislation on how to regulate digital assets passed the first phase of review in the country’s National Assembly on Tuesday.

‘Proof of reserve’ is the new catchphrase and promise by crypto leaders eager to allay investor fears. But loopholes remain and audits might not mean what you think, writes Anndy Lian.

South Korean prosecutors on Tuesday indicted Terraform Labs co-founder Daniel Shin for alleged fraudulent transactions related to the collapse of the Terra-Luna crypto project.

Coinbase sued the U.S. SEC on Monday, asking that a court require the regulator to publicly respond to the Coinbase July 2022 petition asking for clearer crypto regulation guidelines. 

Japan’s welcome mat for Web3 is shifting the tone from “buzzword” to opportunity, but success will hinge on the authorities adopting a global, flexible view toward this new technology, says Yudai Suzuki, co-founder of Fracton Ventures.

A clear and balanced legal framework will encourage more crypto investment, while the industry can promote best practices, writes Mahin Gupta of Liminal.

Kwon Do-hyeong will have a court hearing on May 11 in Montenegro on charges of allegedly attempting to travel using a false passport.

Do Kwon has been charged by Montenegrin authorities for attempting to travel with forged documents as the US and South Korea race to extradite him.

Welcome to The Daily Forkast – April 21, 2023 – presented by Megha Chaddah. The European Union has approved the passage of their Markets in Cryptoassets (MiCA) law, making it the first major jurisdiction in the world to introduce a comprehensive law for the crypto sphere. Meanwhile, the crypto markets have sailed on steadily for […]

Bitcoin fell to near US$28,000 on Friday morning in Asia, with Ether trading flat and most other top 10 non-stablecoin tokens losing steam.

South Korea’s Do Kwon went from a poster boy of digital finance as a co-founder of the US$40 billion Singapore-based Terraform Labs to a fugitive on Interpol’s wanted list, all in a matter of several rollercoaster years. He’s now in a Montenegro jail where he may face more time in detention as the U.S. and South Korea demand his extradition to face a long list of charges, including securities fraud – allegations he has repeatedly denied. The following is a timeline of how we got here.

Hong Kong’s High Court has recognized cryptocurrency as property in a March 31 landmark ruling in a legal tussle involving defunct crypto exchange Gatecoin

Bitcoin rebounded above US$30,000 on Wednesday morning in Asia. All top 10 tokens rose after SEC chair Gary Gensler was criticized at a congressional hearing for his approach to digital assets.

Former President Donald Trump’s NFT collection’s floor price may be dropping, but media coverage may extend his profits from the digital trading cards.

Bitcoin dropped on Tuesday afternoon in Asia but remained above US$29,000, while Ether and most top 10 non-stablecoin cryptocurrencies gained. Dogecoin and Solana fell on the day and rose on the week.

Bitcoin, Ether and most other top 10 non-stablecoin cryptocurrencies dipped Tuesday morning in Asia after the SEC sued crypto exchange Bittrex on Monday.

The Bank of England may set limits on use of stablecoins, citing concern rapid introduction of such digital currencies could lead to financial instability, Deputy Governor Jon Cunliffe said in a speech on Monday.

Seattle-based crypto exchange Bittrex Inc. has rejected charges by the U.S. Securities and Exchange Commission (SEC) that it and co-founder Bill Shihara operated an unregistered national securities exchange, broker and clearing agency. The SEC filed the charges on Monday. See related article: U.S.-based cryptocurrency exchange Bittrex lays off 83 employees Fast facts See related article: U.S. SEC […]

The U.S. House Financial Services Committee is set to hold a hearing on April 19 to discuss a draft bill released over the weekend on regulating stablecoins, a class of digital currency designed to offer price stability by being pegged to another asset’s value.

SEC member Hester Peirce has criticized the regulatory agency for its proposal that seeks to expand the definition of an “exchange” to DeFi platforms.

Binance CEO Changpeng Zhao said regulators need to come up with clear crypto regulations and should understand that the crypto industry is different from the traditional financial industry.

The failed FTX cryptocurrency exchange has recovered around US$7.3 billion in assets and is considering the option of restarting its business.

Bitcoin dipped but held above US$30,000 in Thursday morning trading in Asia that saw mixed performances among the top 10 non-stablecoin cryptocurrencies.

NYDFS superintendent Harris called the idea of Operation Choke Point 2.0 “ludicrous,” but industry participants largely disagree. Was the shutdown of the three largest crypto-friendly institutions a coordinated effort to unbank crypto?

Top blockchain and crypto news: Ethereum fork prompts price fall fears. Satoshi is found — in Apple software. Hong Kong ramps up Web3 plans.

Seoul Southern District Prosecutors’ Office is in the process of freezing 7.1 billion won worth of assets that belong to Terraform Labs CEO Do Kwon.

The U.S. SEC Investor Advisory Committee urged the federal agency to continue its aggressive enforcement on crypto players that offer unregistered securities.

Former executives of the bankrupt crypto exchange FTX failed to install appropriate financial controls in the company, complicating the asset recovery process, the restructuring team of the failed exchange said.

Arkansas has joined Montana and Texas this year in proposing legislation to offer legal protections to companies operating crypto mining sites.

The arrested crypto fugitive Kwon Do-hyung has “zero ” identifiable assets in his native South Korea, prosecutors said on Friday.

DeFi services threaten U.S. national security and need to comply with anti-money laundering and terrorist financing laws, the U.S. Treasury said on Thursday.

Top blockchain and crypto news: Arbitrum to segment AIP-1. DeGods NFT collection moves to Ethereum. Crypto on the agenda at ‘China’s Davos.’

Paxful Bitcoin exchange announced the indefinite suspension of the marketplace on Tuesday, citing regulatory challenges and staff departures.

Bitcoin, the world’s largest cryptocurrency by market capitalization, recovered to trade above US$28,000 on Tuesday afternoon in Asia.

Alchemy Pay is eyeing expansion in South Korea following its US$10 million funding from blockchain investment firm DWF Labs.

Bitcoin dipped below US$28,000 in mixed Tuesday morning trading in Asia. Ether rose. Dogecoin surged after Elon Musk switched the Twitter icon to Dogecoin’s Shiba Inu.

Cryptocurrency exchange Bybit has been ordered to comply with Japan’s regulatory requirements and cease offering services to Japanese residents, after Japan’s Financial Services Agency issued a warning to the company over its registration process

Taking bribes in exchange for listing cryptocurrencies has been common practice among South Korean exchanges, one expert told Forkast.

Seattle-based crypto exchange Bittrex, Inc. will wind down its U.S. operations from April 30, citing continued regulatory uncertainty in the region.

Bitcoin dipped on Monday morning in Asia but held above US$28,000. Most top 10 non-stablecoin cryptos dropped following a week unsettled by regulatory woes.

With a U.S. regulator coming after Binance with a lawsuit and the seeming mounting pile of warnings and fines against other exchanges in the country, Bitcoin briefly skidded below US$26,677 only to rebound and pop up above US$29,000 on Thursday. Since then it has moved along the US$28,000 line, so what does this lawsuit by the heavyweight Commodity Futures Trading Commission mean for the broader crypto market?

Most cryptocurrencies remained calm in spite of the CFTC-Binance lawsuit.

Japan’s Finance Ministry is reportedly planning to launch an expert panel next month to assess the feasibility of issuing a digital yen, according to NHK.

Welcome to The Daily Forkast – March 31, 2023 – presented by Megha Chaddah. Bitcoin holds above US$28,000 even as over US4 billion dollars worth of bitcoin option are set to expire later in the day. BNB prices saw a dip mid-week as news regarding the Binance-CFTC lawsuit came to light, but saw a slight […]

A South Korean court dismissed for the second time a request by prosecutors for an arrest warrant for Terraform Labs co-founder Daniel Shin.

Bitcoin dipped in Friday morning trading in Asia but held above US$28,000. The top 10 non-stablecoin cryptocurrencies traded mixed. Binance’s BNB led the winners.

The U.S. may have gained an edge in a race with South Korea to extradite Terra chief Kwon Do-hyung from Montenegro on charges of fraud.

The Binance comments came in response to a Financial Times article that cited internal documents and said the company had close ties with China despite claims it had left the country in 2017 following a government crackdown.

Bitcoin edged above US$28,000 in Thursday morning in Asia amid a broad rally in most top 10 non-stablecoin cryptocurrencies.

Welcome to The Daily Forkast – March 30, 2023 – presented by Joel Flynn for the latest in the crypto markets. Bitcoin once again passes the US$28,000 mark, with the wider crypto market also seeing gains over the last 24 hours. Binance has been accused of hiding extensive links to China for years after claiming […]

SEC Chair urges for increased funding to address challenges posed by crypto markets and rapid technological innovation during House Subcommittee testimony.

Binance reportedly hid ties to China for years despite claiming to have left the country following Beijing’s regulatory clampdown in 2017.

As US authorities continue to police crypto regulations, we take a look at the direction the country’s crypto innovation is headed.

Top blockchain and crypto news: Binance targeted in CFTC lawsuit. Law catches up with Do Kwon. Chinese banks bet on Hong Kong crypto.

Bitcoin rallied above US$28,000 in Wednesday afternoon trade in Asia after losing ground earlier in the week when U.S. regulators filed a lawsuit against Binance, the world’s biggest crypto exchange, for allegedly breaching trading rules.

Welcome to The Daily Forkast – March 29, 2023 – presented by Joel Flynn. Prices of Bitcoin and other cryptocurrencies remain steady Wednesday morning in Asia. While XRP continues to gain on expectations that Ripple Labs may win a favorable ruling in a lawsuit filed by the US Securities and Exchange Commission.

Sam Bankman-Fried allegedly paid US$40 million in cryptocurrency bribes to at least one Chinese government official in November 2021.

Asia-Pacific nation are leading the way in developing global cryptocurrency regulations that favor innovation, which is something that U.S. regulators should also take note of, said Ripple Labs Inc. President Monica Long

Binance CEO Changpeng Zhao said the charges are “an unexpected and disappointing civil complaint” in response to the CFTC lawsuit filed on Monday against him and the world’s largest crypto exchange.

Kwon Do-hyung will be held in Montenegro for a month on charges of using forged travel documents, South Korea’s Yonhap News reported.

Welcome to The Daily Forkast – March 28, 2023 – presented by Joel Flynn. US Regulators at the Commodity Futures and Trading Commission, or CFTC, are suing Binance and founder Chaopeng Zhao for “willful evasion” of U.S. laws.