Asian DeFi Picks Up Steam; Hong Kong Scammers Use Crypto As Bait | The Daily Forkast
XRP joins Wanchain’s DeFi ventures while Thai mobile bank explores the financial experiment. In Hong Kong, local police bust crypto scammers.
XRP price surges over 40% following another legal victory for Ripple
Court ruling favoring Ripple executives and slapping down SEC catapults XRP — now the world’s 4th most popular crypto — to its highest prices in 3 years.
How MPC can solve blockchain’s data privacy conundrum
Blockchain improves data protection but not confidentiality. Here’s why multi-party computation can be a solution, writes Kurt Nielsen of Partisia Blockchain.
Meitu buys more crypto; Hong Kong, Singapore tease NFT platforms | The Daily Forkast
Meitu adds to its crypto treasury while Singapore and Hong Kong gear up for the NFT craze.
Hong Kong-listed Meitu buys more Bitcoin, now has US$100 million in crypto
Shares are up 75% since the beauty selfie app company began investing in Bitcoin and Ether to try to boost its flagging fortunes.
Asian governments urge ‘extreme caution’ before buying cryptocurrency
As Bitcoin and crypto market swells beyond $2 trillion, even crypto-friendly Singapore is warning the public about risks. Are more regulations coming?
New art and fashion NFT platforms coming to Hong Kong, Singapore
Welcome to crypto’s latest catwalk. Publisher of Vogue Singapore and a Hong Kong exchange unveil plans to turn up the heat on Asia’s NFT market.
Korea’s BTC Premium Nosedives; Officials Take Aim at Crypto | The Daily Forkast
Government dismay at crypto frenzy in South Korea brings the country’s Bitcoin premium down a few notches. But despite threats and policy chills, it’s only got more South Koreans interested in the dizzying crypto world.
Bitcoin’s ‘kimchi premium’ plummets, Upbit exchange suspends services
After surging to 21%, the higher prices that South Koreans pay for Bitcoin are now plunging. What role did Korean regulators and overseas traders play?
Lawyer for 11,000 XRP holders pushing to fight SEC in Ripple lawsuit
As Ripple and SEC intensify their legal battles, attorney John Deaton and his clients are trying to jump into the fray. Will XRP investors get their day in court?
Filecoin’s crypto top 10 stint. Coinbase wows with earnings for Nasdaq debut. Japan opens door to CBDC.
Other top blockchain and cryptocurrency news: Hong Kong is new test bed for China’s e-CNY digital currency. Decentraland’s token bridge to Polygon.
What is the truth behind the decentralized finance hype?
DeFi is making the global financial system more inclusive, but ‘teach more and punish less’ regulations are needed for greater adoption, a WEF panel said.
Ripple wins access to SEC’s internal documents on Bitcoin and Ether
In a ruling that can boost Ripple’s defense, judge says SEC must disclose discussions on whether XRP, Bitcoin and Ether are securities. Is a settlement now near?
Korea’s Bitcoin kimchi premium explodes as Kakao rises on Upbit rumors
Are South Korea’s new cryptocurrency exchange regulations skewing its crypto market? Meanwhile, Upbit’s parent Dunamu surges on NYSE listing rumors.
Will China’s rising crypto crimes prompt tighter regulation?
Rising Bitcoin prices have inspired a wave of crypto-related Ponzi schemes, fraudulent giveaways and other scams around the world — especially in China.
Why DeFi will be the next big thing in global finance
Traditional finance is costly and inefficient, and too many people are left out. Could decentralized finance (DeFi) be the answer?
How blockchain can cut down fraud in the wine industry
High-tech solutions like blockchain, IoT, NFC and DLT are increasingly used to authenticate fine wine and detect counterfeits in China and around the world.
DeFi insurance: Why buy coverage for your digital assets?
Insurance policies for DeFi can cover losses from theft to smart contract issues. But do read the fine print — and know the industry is ‘self-regulated.’
SEC agrees to redact two documents in Ripple lawsuit as XRP prices surge
XRP prices soar after Ripple and the SEC agree to partially redact some of Ripple’s email exchanges — but not the CEO’s financial information
Animoca CEO Yat Siu: Ownership economy ‘will be worth trillions’
Yat Siu, Greater China’s godfather of CryptoKitties and vintage Atari NFTs, also says gamers are at the forefront of blockchain adoption.
5 questions investors must ask before buying Bitcoin or digital assets
How do cryptocurrency investors know whom to trust, avoid scams and not buy coins with a shady history? Gunnar Jaerv of First Digital Trust explains.
Coinbase Nasdaq listing set for April 14
Coinbase’s COIN ticker will go public after the exchange’s Q1 earnings results disclosure ahead its April listing.
Hoping to ride NFT wave, Taiwanese basketball team launches NFTs
Taking a page from NBA Top Shot’s playbook, the Lioneers of Hsinchu County are now selling NFT video clips of their basketball stars. How is the sale going?
How blockchain technology’s landscape changed in the tumult of 2020
Far from slowing down blockchain advances, the Covid pandemic may have accelerated the technology’s growth and adoption, blockchain experts say.
India mandates new disclosure rules for cryptocurrency companies
Starting today, India’s crypto firms must report all cryptocurrency transactions to the government. What does this mean for India’s proposed crypto ban?
Beyond NFT’s hype: Artists and crypto experts take a hard look at NFTs
What are you really getting when buying a non-fungible token, and are NFTs worth their eye-watering prices? Forkast.News dissects the latest crypto craze.
China opens digital currency door to all. NFTs go wild. Is Singapore’s Temasek buying virgin Bitcoin?
Other top blockchain and cryptocurrency news: Bitcoin prices rise as BTC and ETH options expire. DeFi market steps up as Elon Musk says, ‘Don’t defy DeFi.’
What do Hong Kong’s crypto laws mean for exchanges and investors?
HashKey Group’s Angelina Kwan, a former regulator who helped write laws relevant to the crypto industry, also explains why Hong Kong leads the world in fintech regulations.
XRP holders step closer to joining Ripple in fighting SEC lawsuit
In a new ruling, the judge presiding over SEC v. Ripple Labs opens the door to allowing XRP holders to intervene as a third party in the government’s lawsuit.
Sailing around the world for digital gold with the Liberty Bitcoin Cup
Young sailors are competing to win one Bitcoin in the Liberty Bitcoin Cup — a youth version of the America’s Cup — heading to Hong Kong in early 2022.
Ripple plans major Southeast Asia expansion by buying 40% of Tranglo
Despite its legal battles in the US over the XRP token, Ripple continues its push in Asia to grow its cross-border payments and money-transfer business.
China writes blockchain and digital currency into nation’s future
China’s new five-year plan — its blueprint for development — pours resources into ‘new infrastructure’ like blockchain technology and DCEP’s digital yuan.
Swire Properties series examines corporate responsibility in sustainability
Researchers did a United Nations ‘sustainability audit’ of technology firm PALO IT and discussed findings. What can other companies learn from this?
SEC tries to block XRP holders’ bid to intervene in Ripple lawsuit
SEC tells court that allowing XRP holders to join as third parties would create an ‘avalanche’ of claims and ‘undue delay, complexity and confusion.’
World’s first major crypto art show opens in Beijing
Headlined by crypto art superstars Beeple and Robert Alice, the in-person exhibit also features works by Chinese artists. Next stop: Shanghai.
How does China see its CBDC and its use in cross-border payments?
China’s central bank says its DCEP project’s digital yuan, now in pre-launch testing across the nation, ‘will coexist and cooperate’ with Alipay and WeChat Pay.
Justin Sun: Next generation traders will prefer NFTs and DeFi
Gen Z and millennials will transform investing. Here’s why one of their own — TRON CEO Justin Sun — thinks NFTs and DeFi are the wave of the future.
How blockchain can power the growth of green finance
As interest in green bonds grow around the world, Asia is emerging as a hotbed of sustainable finance. Here’s why China will be leading the way.
KPMG: Virtual asset service providers ready to professionalize and grow
New KPMG report outlines opportunities for investors as well as traditional banks with the rise of VASPs like cryptocurrency exchanges and custody services.
World’s central banks come together to collaborate on CBDCs
As the world increasingly turns to Bitcoin, stablecoins and other cryptocurrencies, a brain trust of central bankers want to take back control.
How liquid staking can unlock cross-chain interoperability and DeFi value
The siloed nature of many older blockchains is holding back DeFi’s potential, writes Sarah Kim of Terra. But help with greater interoperability is on the horizon.
What’s in DeFi’s future — and what does it mean for traditional banks?
Will DeFi replace centralized finance, and how might regulators respond? An all-star panel with leaders from SEC, WEF, ConsenSys and USDC explains.
Bithumb, OKEx roiled by Korea’s new law. Why Thailand hates baht-pegged stablecoins. What’s behind Metakovan’s NFT art buys?
Other top blockchain and crypto news: Japan’s SBI Crypto opens mining pool to public. In China, more companies turn to crypto to boost bottom line.
OKEx to shut its crypto exchange in Korea as new AML laws take effect
OKEx will soon follow Binance in leaving South Korea’s cryptocurrency exchange market. Is this what FATF and Korean regulators intended?
Why Roger Ver prefers Bitcoin Cash to the original BTC
Early Bitcoin investor and cryptocurrency promoter Roger Ver tells Forkast.News how faster transactions and lower fees are fueling Bitcoin Cash adoption.
Hong Kong now exploring retail CBDC in upcoming Project Aurum
Hong Kong Monetary Authority intensifies its CBDC efforts with a new study into ‘hybrid’ digital currencies and private CBDC-backed stablecoins.
Fed Chair Powell calls Bitcoin ‘speculative,’ says US not in CBDC rush
Countries around the world are exploring central bank digital currencies. But US and European central bank leaders say they value stability over speed.
Ripple recasts embattled XRP as a ‘bridge’ currency for CBDCs
As XRP holders step closer to intervening in SEC’s lawsuit against Ripple, the payment platform gears up to grow its CBDC business with a new white paper.
Bank of Thailand outlines stablecoins policy as it explores retail CBDC
Thailand’s central bank says it is ‘open’ to considering stablecoins but declares Terra’s THT to be illegal. What does this mean for Tether or USD Coin?
How JPMorgan’s Onyx is redefining payments in banking with blockchain
From JPM Coin to payments on Ethereum in outer space, JPMorgan’s Onyx division is pushing the blockchain frontiers in traditional banking.
Chia Network launches eco-friendly blockchain and XCH cryptocurrency
Founded by BitTorrent creator Bram Cohen, Chia Network’s new ‘proof of space and time’ blockchain aims to be a more sustainable alternative to bitcoin.
Who is really leading the global blockchain patent race?
Boosted by state incentives, companies in China are filing more blockchain patent applications than anywhere else. But how many patents got awarded?
Japan to start digital yen tests as CBDCs gain momentum across Asia
As central banks in China, Korea, Hong Kong and Thailand ramp up CBDC efforts, Bank of Japan is now planning a proof of concept for a digital currency.
Guide to Cardano and ADA: What is Cardano, and why it matters
Cardano’s ADA, up by 7,400% since last year, is now the 3rd most popular cryptocurrency in the world. Why is it called a ‘Ethereum killer’? Let’s find out.
Beauty selfie app Meitu buys another $50 million in bitcoin and ether
Another financially troubled Chinese company turns to blockchain to improve its bottom line — this time, by buying up cryptocurrency a la Tesla.
Are bitcoin ETFs coming soon to America? Korea’s Shinhan Bank joins CBDC pilot. Argo seeks greener crypto pastures in Texas.
Other top blockchain and cryptocurrency news: As China tightens vise on crypto, Beijing to host 60-artist crypto art exhibition featuring NFT superstar Beeple.
Judge denies XRP holders’ bid to intervene in SEC v. Ripple lawsuit
XRP holders’ motion to join as third-party defendant was denied without prejudice as Ripple tries to bolster its ‘fair notice’ defense against SEC.
As big investors buy into bitcoin, demand for crypto custody grows
The race is on as crypto-native players and traditional banks ramp up cryptocurrency custody services for investors who can’t or don’t want to do it themselves
NEM launches Symbol blockchain and XYM crypto for new token economy
NEM’s Symbol blockchain will be interoperable, enable NFTs and allow assets like whiskey to be tokenized for investing. What will happen to XEM and NIS1?
XRP holders seek to join Ripple in fighting SEC lawsuit
In new legal filings, XRP holders blame SEC for causing ‘multi-billions in losses’ and say they intend to file a class-action lawsuit against the agency.
Looking past bitcoin: How tokenized real estate can diversify portfolios
Despite bitcoin’s new highs, BTC remains a volatile and risky investment. Are tokenized hard assets like real estate a better alternative for investors?
Will DeFi upend traditional finance and democratize capitalism?
GameStop’s drama is over, but it may signal big changes ahead for finance. Here’s why one former banker thinks ‘DeFi is going to absorb traditional finance.’
What does Weibo’s takedown of Binance & Huobi mean for crypto in China?
China’s Twitter-like platform disabled the crypto exchanges’ accounts on the same day China vowed to ‘crack down’ on businesses that sound like crypto.
Why blockchain and crypto offer women big career opportunities
In a special roundtable, top women in blockchain and crypto share leadership tips and how to give your daughter ‘a fabulous career when she grows up.’
SEC: no duty to warn about XRP; denies Ripple’s fair notice defense
Intensifying its legal warfare against XRP, SEC takes aims at the heart of Ripple’s defense. But Ripple scores wins in Tetragon and YouTube lawsuits.
Jack Dorsey cashing in on NFT frenzy. Ripple turns to CBDCs amid XRP’s legal troubles. Is India rethinking a crypto ban?
Other top blockchain and cryptocurrency news: Ethereum takes up with Amazon, plans gas fee changes. China likely to increase blockchain spending.
Does India have room for both bitcoin and a CBDC?
As debate rages over whether India should ban private cryptos in favor of a central bank digital currency, a case could be made that India needs both.
Guide to tokens and NFTs: what is ‘tokenization’ and how does it work?
What do tokenized securities and Jack Dorsey’s NFT tweet have in common? In this Forkast.News explainer, learn how crypto tokens are changing the world.
International Women’s Day 2021: Women making an impact in blockchain
Forkast.News showcases 10 inspirational women blazing trails — in business, government, law and NGOs — in crypto- and blockchain-related fields.
How blockchain can fight the scourge of synthetic identity fraud
Synthetic ID fraud is a new form of identity theft and a fast-growing crime. What is it, and what are the solutions? Rakesh Soni of LoginRadius explains.
Ripple: SEC did not give fair notice that XRP violated law
In its latest court filing, Ripple also says SEC led market to believe that XRP was not an investment contract. Outside court, Ripple pursues the CBDC business.
China’s bitcoin miners flee Inner Mongolia ahead of crypto mining ban
One of world’s biggest bitcoin-producing regions will soon ban cryptocurrency mining to meet China’s clean air goals. Where will all those miners go?