Search results: compliance

Other top blockchain and cryptocurrency news: WhatsApp refugees swarm Signal. Bakkt to go public via SPAC. China tests out new DCEP digital yuan e-card.

New US government rules and guidance aim to boost cryptocurrency taxes, clarify legal liability related to STABLE Act and require more KYC reporting.

Who in blockchain is making the world a better place this year, and who deserves nothing under the tree? Santa’s helpers at Forkast.News tell all.

In this inaugural Forkast Forecast, the co-founder and CEO of Hedera Hashgraph offers his views on China’s blockchain drive and what the industry will be like in 2021.

Other top blockchain and cryptocurrency news: After BitMEX, are more CFTC crackdowns coming soon? China frees OKEx founder, exchange to resume services.

An all-star panel of top cryptocurrency policymakers and other blockchain experts explain the US regulatory system for digital assets and what lies ahead.

As nations grapple with fitting cryptocurrency into existing tax regimes, OECD examines the crypto tax gaps and issues at its blockchain forum this week.

DeFi’s explosive gains in 2020 may look like the 2017 ICO craze all over again. But Chyna Qu of DeFiner explains why the two are very different.

Can tokenizing investments in carbon trading help the world achieve Paris Agreement goals? Stefan Rust of Sonic Capital explains in a Forkast.News Q&A.

India is now a vibrant cryptocurrency hub, but its future remains uncertain. Sathvik Viswanath of Unocoin explains what’s holding back the nation of 1.3 billion.

EU committee has turned down a petition for a tax on nodes to create a crypto fraud superfund for victims. But lawyer vows to try again.

A blockchain-based health code system that can certify a visitor’s Covid-free status has reopened travel between Macau and mainland China

Miners’ complaints with economic model are resulting in early rewards release and falling FIL prices. What happened to 800,000 coins?

Other top news: Filecoin’s mainnet set to launch. Chinese banks help DCEP digital currency get market-ready. NetEase to preserve email forevermore.

BitMEX’s CEO, who faces money-laundering charges, may be the beneficiary of Hong Kong’s political turmoil and current lack of an extradition treaty with US government

As Wild West DeFi surges to new heights with Chinese capital, China wants to build a separate digital finance network — in its own, tightly controlled image.

Proposed federal laws would upend SEC rules for digital tokens and give CFTC sweeping powers. Will it be enough to rein in crypto’s Wild West ways?

China’s latest state-backed blockchain initiative’s official name proclaims that it is ‘public.’ But is it really? Forkast.News explains.

Also: Japan’s deputy PM Taro Aso urges greater blockchain cooperation. Inner Mongolia raises bitcoin mining costs. Fintech investments in S. Korea.

Other top news: $50 billion in cryptocurrency leaves China. Severe flooding in Sichuan destroys bitcoin mining farms. DeFi in India.

Conflux wins rare endorsements from Shanghai and Hunan provincial governments as other blockchain firms struggle for a toehold on the mainland.

Australians can buy bitcoin from post offices and use cryptocurrency in soda vending machines. But are confusing tax policies discouraging wider adoption?

Other top news: China imposes standards for blockchain companies. Huobi launches digital asset custody business. Blockchain VC in the Middle East.

CFTC’s new plans for crypto regulations and OCC permitting banks to be crypto custodians could boost digital asset adoption. What’s next for FATF and SEC?

Covid-driven monetary policies are spurring growing investor interest in crypto assets and derivatives, says Richard Byworth, CEO of Diginex and EQUOS.io.

As US regulators warm to digital assets, Diginex capitalizes on the world’s most mature financial market by launching platform that allows crypto spot trading.

Other top news: China’s BSN blockchain network expands global reach. US lets major banks act as crypto custodians. VC in India and Singapore.

The $660 billion Paycheck Protection Program — intended to help America’s small businesses survive the pandemic — also gave financial aid to crypto firms accused of fraud, a Forkast.News investigation found.

Cryptocurrencies are enabling illiquid assets — like real estate, art and even pro athlete contracts — to be tokenized. What does this mean for investors?

Other top news: InterContinental uses blockchain to prove hotel cleanliness. Beijing plans for blockchain in city services. VC in India and Israel.

Brian Behlendorf, a longtime open-source evangelist, discusses China’s adoption of Hyperledger Fabric for its Blockchain Service Network (BSN), blockchain trends to watch, and more.

Sheila Warren, World Economic Forum’s head of blockchain policy, also discusses the growing importance of digital currencies and how America is falling behind.

Other top news: China’s new blockchain cross-border payment platform for Hong Kong, Macau and Guangdong. 5G for all in Shenzhen. Fintech VC in India.

Goodbye long routing numbers. Hello simple ID.

Hong Kong, Macau and Guangdong have three legal and monetary systems. A new blockchain banking platform would unify the area into an economic hub.

Other top news: Chinese high schoolers cram-studying bitcoin mining. Blockchain-powered lotteries in Cambodia. Startups in India, Singapore and UAE.

Is it because Huobi has an in-house Communist Party relations office, while rival exchange Binance does not? Gather ’round for a Tale of the Two Cryptos.

Other top blockchain news: China sounds new warning against crypto. Brave browser brouhaha. Startups in Japan and Malaysia.

Working from home heightens computer security risks and the need for good data governance. What are the best practices for safeguarding critical data?

Adam Traidman of BRD discusses CBDCs in an age of intensifying US-China rivalries, and bitcoin halving’s surprising impact on crypto mining and profits.

Covid-19’s disruption of global economies could speed up changes to financial systems around the world. Will cash become obsolete?

David Jevans, CEO of CipherTrace, explains FATF’s global influence and recent enforcement actions that have proven to be expensive for those caught.

Crypto tax expert Vamshi Vangapally explains the impact on coins like NEO, Stellar, VeChain, Ontology, Tezos and soon, ETH 2.0.

Asia’s first regulator-approved digital asset manager opens the door for wider cryptocurrency adoption.

Companies are holding off investing in emerging technology not only because of economic turmoil, but also structural biases against meaningful change.

Also: Dozens of crypto firms sued in 11 class-action lawsuits. Bitcoin mining company Canaan bleeds red ink. Fintech funding in India, and more.

China is trying to grow its blockchain industry, but are all these startups for real? Forkast.News dives into the data to find the truth behind the numbers.

How are crypto companies complying with the travel rule, and what does it mean for decentralization and privacy? In a Forkast.News exclusive, industry experts analyze FATF’s impact on regulations around the world and what to expect next.

In this newsletter and podcast, we bring you top headlines around the world, including: A new proposal to create a digital dollar. Coinbase’s legal chief heading U.S. Treasury. A Bitcoin-Red Cross coronavirus fundraiser in Italy. Universal basic income’s revival. Steem’s hard fork into Hive, and more.

Robotics and blockchain will unleash massive job losses as workers struggle to adjust. Should society offer UBI to ease the economic pain?

FATF is setting international standards, shifting the crypto world from a “wild west” mentality to a more compliant space, says CoolBitX CEO Michael Ou.

Asia’s blockchain and cryptocurrency projects have more vitality than other regions, says the chairman of the Cardano Foundation. But he also notes the variations within the region. How does Hong Kong differ from Vietnam and Singapore?

What’s up with South Korea’s new blockchain regulations? And where is bitcoin now legal tender? (Mai oui!) Other headlines around the world: a storm over STEEM, the new Baseline protocol for privacy, HTC’s Exodus 5G Hub, and how the coronavirus has affected blockchain firms in China.

Specific identification, hard forks and mainstream use: U.S. crypto investors are scrambling to figure out how new guidelines will affect their tax returns.

The uncertain legal status of cryptocurrencies is under the microscope in India.

The Swiss Bankers Association (SBA) is seeking ways to bridge the traditional financial sector to new blockchain-related industries, including ways to open bank accounts, says said SBA deputy CEO August Benz.

China hopes to provide affordable basic health care to all its citizens by 2020. Now that the private sector has joined public initiatives, the country is starting to see medical care efficiencies thanks to blockchain implementation.

Around the world, the used-car industry is notorious for being one of low trust and high incidences of fraud. That also makes it an industry ripe for innovation as it has not adopted effective enough technology to prevent fraud and contain costs.

Innovations in privacy-enhancing technology can address the challenges confronting enterprises from a regulatory, security and competitive perspective, writes Jonathan Rouach, CEO and cofounder of QEDIT.

The central bank’s digital currency efforts, ironically, would give it more control over the economy.

Identification on a protocol level could help blockchain become mainstream for blue-chip companies like MasterCard, Volvo and Geely if international regulations are met. Anonymity is “exactly what is hindering wider use of blockchain,” said Concordium CEO Lone Fonss Schroder.

And that’s a good thing for legitimizing blockchain and paving the way to tokenize real assets across industries, the enterprise blockchain creator said at Hong Kong FinTech Week 2019.

Ethereum has amassed a nearly unbeatable network effect, but regulatory compliance is still a major hurdle.

“We want to keep at the forefront of the regulatory framework to make sure that what we’ve got is fit for purpose and works well for our stakeholders.”

Chinese blockchain companies received a substantial windfall following President Xi Jinping’s bullish support for the development of the technology, and Shanghai-based Neo was one such enterprise. Forkast.News Editor-in-Chief Angie Lau sits down with Da Hongfei, Co-Founder of Neo to find out about the technology and how it will affect various industries in China. Key Highlights […]

Switzerland is positioning itself to become a crucial hub for the global blockchain industry as investment group Crypto Valley Venture Capital (CVVC) reports that the top 50 blockchain-related companies in the country are valued over US$40 billion in 2019. CVVC Founder and CEO Mathias Ruch told Forkast.News’ Editor-in-Chief Angie Lau that the country’s regulation and […]

Cloud-based messaging startup Symphony announced a partnership with Internet giant Tencent to integrate their services with WeChat, a massively popular messaging application in China. The California-based startup is aimed to serve professionals in the banking and investment industry, and is positioning itself to be a cheaper means of communication and information sharing than alternatives like […]

Speaking from the main stage of Hong Kong FinTech Week, Securities Futures Commission (“SFC”) CEO Ashley Alder said the SFC will publish a new regulatory framework that would allow it to regulate virtual asset trading platforms. In a highly anticipated keynote speech at Asia’s largest global financial technology conference, Alder noted the new regulations will […]

What is the next big thing? As far as Joseph Lubin, Founder of Consensys, is concerned, we are already experiencing it as you read this. Lubin shares how blockchain is already a killer app, being used globally as a new database technology. He notes cryptocurrency is already enabling cross-border transactions that help facilitate trade and […]

To celebrate the end of 2020, here is a Forkast.News editor favorite from our archives — a story that still rings fresh, true and — in a world now measured in nanoseconds — timeless. What is holding back mainstream adoption? What role do governments need or want to play? The Next Big Thing plenary panel […]

Listen to the podcast In its genesis, blockchain was designed with the intention of it being a decentralized peer-to-peer network. However, these networks can either require permission by a controlling entity (a private blockchain) or be truly permissionless and everyone can make modifications (a public blockchain). But when it comes to enterprises and businesses, which […]

Taiwan faces an existential threat. It is a nation that is dependent on exports, but like other developed nations, recognizes that in order to survive, it needs to champion high-technology industries as labor-intensive industries leave for nations with cheaper workforces like Vietnam or China. Could blockchain and cryptocurrency be part of the answer? Jason Hsu […]