Search results: protection

The U.S. Securities and Exchange Commission has no plans to ban cryptocurrencies, chair Gary Gensler said during a congressional hearing on Tuesday. He added that any decision to ban crypto is “up to Congress.” Fast facts Gensler responded to Rep. Ted Budd’s question about whether the U.S. plans to ban crypto along the lines of […]

Korea crypto tax pause called for meanwhile Tiktok jumps into NFTs

Markets on Tuesday in the U.S. were unsettled by the prospect that energy crises in Europe and China could lift inflation to new highs, compelling central banks to reverse accommodations sooner than expected. US Treasuries reacted with a fierce rise in yields and that spilled over to the equity markets.  Although the markets drove down […]

Against the global tide of digital asset adoption, China’s harshest crypto ban yet heralds golden opportunities, writes Richard Byworth of EQONEX. Other governments should take note.

China crackdown legal concerns as Korea also discusses virtual asset law

South Korea’s virtual asset industry is expected to withstand major regulatory reconstruction

Survey shows growing consensus on adoption, investment and use cases. ‘Blockchain is here to stay.’

The country’s crypto industry has been turned upside down with stricter operating rules that take effect tomorrow.

Blockchain and parametric insurance offer a bigger safety net for the world’s most vulnerable, writes Jan Stockhausen of Etherisc. Here’s how it works.

In an interview by the Washington Post on Tuesday, U.S. Securities and Exchange Commission Chairman Gary Gensler questioned the future of cryptocurrency, saying, “I don’t think there’s a long-term viability for five- or six thousand private forms of money. History tells us otherwise.” He added that “in the meantime, it’s worthwhile to have an investor […]

With only a few days left until Korea’s regulatory deadline for virtual asset exchanges, all have accepted the government mandate in service suspension except for one exchange, Gopax. Fast facts Twenty-four virtual asset exchanges in South Korea are in limbo — they have only met one of two new requirements, and were subsequently asked by […]

Canaan reports record revenues meanwhile Korea says no to crypto tax delay

In his testimony before the Senate Banking Committee, Gary Gensler, chairman of the U.S. Securities and Exchange Commission, said that Coinbase lists “dozens of tokens that may be securities.” Fast facts In response to Senator Pat Toomey’s questions about whether cryptocurrencies classify as securities, Gensler said “very many” of the cryptocurrencies, including stablecoins, are in […]

Mid-sized crypto exchange Foblgate announced the closure of its Korean won (KRW) trading functions in advance of a government mandate banning digital asset platforms from operating cash-to-crypto services without a local bank partnership. Fast facts Foblgate announced it is temporarily suspending its KRW withdrawal, deposit and trading market between cryptocurrencies and the Korean won. Instead, […]

Ahead of the U.S. Banking Committee’s hearing on the “Oversight of the U.S. Securities and Exchange Commission” today, SEC Chairman Gary Gensler reiterated his call for crypto platforms and projects that have securities to register with the agency. Fast facts In prepared remarks, Gensler emphasized the concerns he sees over the lack of investor protection […]

Two of Australia’s “Big Four” banks — National Australia Bank and Westpac — have hit back at criticism they are suppressing competition by refusing to do business with cryptocurrency providers in the country, according to a report. Fast facts While neither of the banks have formal policies excluding crypto businesses, NAB chief executive Ross McEwan […]

Following crypto’s adoption in one struggling economy, nations in Latin America and elsewhere are now weighing the pros and cons of digital currency

Top blockchain and cryptocurrency news: El Salvador’s BTC experiment. EthereumMax and the power of celebrity. Hong Kong shores up regulatory oversight.

The Central American nation opens up the next chapter in the history of the world’s biggest cryptocurrency.

Hyperithm, a crypto investment trust company in South Korea, acquired an Information Security Management System (ISMS) certification — a requirement Korean authorities say every virtual asset operating business must secure. Fast facts Hyperithm is the first virtual asset brokerage in South Korea to be certified for information security by a public institution. Hyperithm’s announcement shows […]

Only 21 out of 60 exchanges are expected to continue their services in Korea.

Too small to fight as individuals, Binance users are now banding together to take on the world’s largest crypto exchange in arbitration. David Kay of Liti Capital explains how it’s done.

As governments and citizens embrace digital currencies of all kinds, from Bitcoin to CBDCs, here’s what the world and daily life could look like.

Deadline looms for Korean exchanges as Doge meme valuation explodes

Crypto trading platforms rush to meet a Sept. 24 deadline, hoping to comply with new rules designed to protect investors.

The Monetary Authority of Singapore (MAS) today announced 15 finalists for its “Global CBDC Challenge” — a competition to develop retail Central Bank Digital Currency (CBDC) solutions to improve payment services and promote financial inclusion. Fast facts According to MAS, the Global CBDC Challenge attracted over 300 submissions from more than 50 countries, with over […]

A looming deadline for crypto exchanges in South Korea to either meet new compliance requirements or face closure will not be extended, the country’s newly nominated chief financial regulator says. The rules are designed to improve investor protection and transparency in crypto transactions, but many exchanges have been calling for a longer grace period. Fast […]

Bitcoin ATM operators DigitalMint and Coinsource are joining blockchain analytics company Chainalysis to form the Cryptocurrency Compliance Cooperative (CCC). The mission of the CCC is to bolster compliance standards and protect consumers in the cash-to-cryptocurrency industry. Fast facts Leaders in the cash-to-crypto business say they are on the mission to create a safer environment for […]

What is DeFi, why it’s poised to enable financial inclusion, and how the showdown between decentralized finance and regulators is taking shape.

Top blockchain and crypto news: Is another Bitcoin bull run coming soon? Punks rocking NFTs. Why crypto contracts may not be enforceable in China.

Thailand’s Securities and Exchange Commission (SEC) on Wednesday launched a public consultation on its proposed amendments to regulations for the custody of crypto holdings in digital asset businesses. Fast facts The additional regulations — which the SEC said are intended to enhance investor protection — include requiring digital asset businesses to comply with “the principles […]

Sandbank, a South Korean bank for virtual assets, says it is in the process of acquiring the necessary certification needed to legally operate in the country. However, the financial authorities have yet to decide whether their requirements apply to crypto banks. Fast facts In an announcement, Sandbank told its customers it has put acquiring the […]

The ruling by Shandong’s High Court backs up China’s official stance against trading in cryptocurrencies. What does this mean for investors?

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. […]

Crypto exchanges, or VASPs, are coming under increasing regulation. Complying with the Financial Action Task Force’s travel rule will be one of them.

Will Google greenlighting US crypto ads, Ethereum’s London upgrade and clearer regulations pave the way for another Ether price rally?

Australian cryptocurrency exchange Independent Reserve said Monday that it had received an “in-principle approval” for a Major Payment Institution License in Singapore to operate as a regulated digital payment token (DPT) service provider, according to a company statement. Fast facts Founded in Australia in 2013, Independent Reserve set up its first overseas operations in Singapore […]

World’s biggest cryptocurrency exchange steps up compliance and cuts product offerings, with a ban in Malaysia and end of lucrative derivatives business in three EU nations.

A new NFT platform built on Hedera Hashgraph aims to give patients greater control over their health information. How does it work?

Celsius Network CEO says crypto lenders are using Wall Street’s ‘safest’ business tactic to provide high interest rates to customers. What are the risks?

Robinhood’s hotly-anticipated market debut had an underwhelming start on Thursday, closing 8% down on its debut price of US$38, according to data from TradingView.com. Fast facts Trading under the ticker HOOD, Robinhood’s stock had an immediate rocky start, falling 10% before recovering slightly. But HOOD still ended the day at US$34.82. As Forkast reported recently, […]

The fee-free trading platform’s initial public offering promises plenty of action for retail investors, but pitfalls may lie in wait amid trading volatility and wider adoption of business model.

Binance also tightens withdrawal limits and unveils new tax reporting tool, to counter recent flurry of government investigations and bad publicity.

In an effort to “expand and accelerate innovation around digital asset technology”, Mastercard is launching a new global program to support cryptocurrency startups by giving them access to Mastercard’s business network and technology. Fast facts Announced yesterday, Mastercard’s Start Path program already has signed up seven crypto-related startup companies: GK8, Mintable, Stacs, Supraoracles, Taurus, Uphold […]

Zero-fee trading app Robinhood is looking to introduce features to better protect users against the price volatility of crypto trading, according to a report by Bloomberg based on an analysis of the platform’s code by iOS developer Steve Moser. Fast facts According to a message in the code, a new feature called “price volatility protection” […]

FTX CEO Sam Bankman-Fried says it’s time to move on from high leverage in crypto trading. Binance also seeks new CEO with a stronger regulatory background.

Authorities in Sichuan — a southwestern Chinese province that was once a hotbed for crypto mining, thanks to its abundant hydropower resources — is tightening scrutiny of small hydropower stations, without giving any exact reasons behind the move. Fast facts The Sichuan Provincial Water Resources Department said that it had listed 5,131 small hydropower stations […]

In the latest blow to Binance — the world’s largest cryptocurrency exchange — U.K. bank NatWest is now blocking its customers from making payments to Binance both in the U.K. and abroad, reports Yahoo Finance. NatWest acted after Binance has come under increasing regulatory pressures. Fast facts The move by NatWest — a Scotland-based bank […]

Turkey’s deputy finance minister says a draft bill to create a cryptocurrency regulatory framework will be submitted to parliament in October, according to a report by CNN Türk. Fast facts The bill will define different types of virtual currencies and principles for their issuance and distribution. The country’s Capital Markets Commission will supervise companies handling […]

As the world grapples with crypto mining’s carbon footprint, Nischal Shetty of WazirX examines the technical and regulatory solutions.

The European Central Bank has launched a two-year project to prepare for the potential issuance of a digital euro. The central bank digital currency would be supported by an underlying architecture with a negligible environmental impact compared to Bitcoin’s hugely energy-intensive blockchain. Fast facts The ECB has begun the investigation phase of a digital euro […]

Top blockchain and crypto news: Crypto markets await Bitcoin fund release. USDC issuer opts for the back door. In China, NFT copyrights and wrongs.

Crypto industry gets the ‘overleveraged’ label and authorities are cracking down on derivatives providers. Alexander Höptner of 100x believes the pushback foreshadows the industry’s next big thing — derivatives.

Is William Hinman a former ‘high-ranking’ SEC official exempt from disclosing his prior communications on XRP, or must he provide testimony to Ripple?

The standards-setter for banks around the world wants to subject crypto like Bitcoin to higher capital requirements. What do industry players think?

Centralized data management is outdated and vulnerable to hacking, says Li Jun of Ontology. Here’s how blockchain can make data more secure.

The Philippine Stock Exchange wants to be the country’s platform for trading crypto assets when regulators issue rules to govern the sector, according to a report by CNN Philippines.  Fast facts Stock exchange President and CEO Ramon Monzon said the bourse’s management had first discussed the idea of setting up a domestic crypto exchange two […]

As countries step up their implementation of the Financial Action Task Force’s standards, the list of regulators that have Binance in their crosshairs just keeps growing longer. Fast facts Thailand’s Securities and Exchange Commission today filed a criminal complaint against Binance — the world’s largest cryptocurrency exchange by trading volume — for operating a digital asset […]

Ripple says William Hinman holds important insights into SEC’s stance on Bitcoin, Ether and XRP. How is Hinman’s 2018 speech on crypto relevant to the lawsuit?

Deposit account bears closer comparison to distressed debt fund than to mainstream bank account, expert says.

Interview with Trent Barnes, Principal at Zerocap Tokenization brings new models for raising capital, as well as institutional-grade opportunities Forkast.News: How does a digital asset become “institutional-grade”? What sort of criteria are institutional-level traders looking for? TB: The criteria would include clear guidelines and regulatory frameworks as to how digital assets are treated, deepening pools […]

Through tomorrow, a Senate committee is taking public comments on how best to make Australia into a global crypto leader and fintech hub.

Why are so few adopting FATF guidance for VASPs? Money laundering watchdog decries ‘continued misuse of virtual assets through jurisdictional arbitrage.’

Top blockchain and cryptocurrency news: Bitcoin’s still winning. Titan’s troubles as a teachable moment. Beijing creates a crypto mining diaspora.

Better known for uses in art and collectibles, non-fungible tokens can also improve supply chains and prevent fraud. Richard Crook of LAB577 explains how.

Crypto literacy of Indian regulators is evolving and crypto players are trying to keep industry clean via self-regulations, says Nischal Shetty of WazirX.

Dashing hopes of greater regulatory clarity for the cryptocurrency industry, the U.S. Securities and Exchange Commission’s recently released annual regulatory agenda does not mention Bitcoin or cryptocurrency regulations.

Bitcoin sheds 4% but BTC’s share of the total crypto market grows after US Fed projects higher inflation and plans interest hikes earlier than expected.

50 crypto exchanges apply for ISMS in South Korea while Hong Kong sees the birth of a blockchain passport for Covid vaccinations.

Permissionless, open source and decentralized, Web 3.0 will transform computing and data storage. Maria Paula Fernandez of Golem Network explains how.

Fifty South Korean crypto exchanges have applied for certification under the country’s Information Security Management System — the first step in meeting stringent new crypto exchange regulations.

Thailand’s securities regulator has announced new rules for cryptocurrency exchanges in the country, including a ban on utility tokens and meme tokens.