Search results: industry

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.

Tensor topped Magic Eden’s sales volume on Wednesday afternoon in Hong Kong, giving it a brief stint as Solana’s top NFT marketplace. 

Binance.US, a cryptocurrency exchange set up by Binance chief Changpeng Zhao to serve U.S. clients, has pulled out of a US$1.3 billion deal to buy bankrupt crypto lender Voyager Digital, the company said Tuesday, citing a lack of clear regulations in the country for the crypto industry.

‘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.

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. 

People won’t want to bother with a new technology if it’s painful to use, even if they’re aware of the potential benefits, writes Toby Rush of Redeem.

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.

Russia is now the second largest Bitcoin miner after the U.S., according to a report by Russian media Kommersant. 

Bitcoin extended losses in Monday afternoon trade in Asia, along with all top 10 non-stablecoin cryptocurrencies by market capitalization, with Solana and Polygon as the biggest losers.

India’s Finance Minister Nirmala Sitharaman, in commending the potential of distributed ledger technology (DLT), has urged for a global consensus in regulating crypto while emphasizing that regulation did not equate to government control over the technology. 

A new memecoin craze is raising Ethereum transaction fees, but it’s also bringing new liquidity in for non-fungible tokens.

Bitcoin fell to US$28,000 in the same week the European Parliament passed its landmark crypto framework. Industry analysts told Forkast that holding US$27,500 will be crucial for Bitcoin in order to spark an upward momentum.

The UAE’s registration authority of Abu Dhabi Global Market is seeking feedback on its proposed legislative framework for distributed ledger technology, which will focus on disclosures, liquidation, and governance structures, according to a report by CoinDesk

Critics have long slammed Bitcoin mining for its enormous carbon footprint. But what if all the heat that miners emit can be sustainably powered and reused?

The European Parliament has approved the Markets in Crypto-Assets Act (MiCA), a legislation aimed at standardizing regulations and establishing harmonized rules for crypto assets across the European Union

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.

Top blockchain and crypto news: Bittrex in SEC line of fire. Bored Apes fall after whale sale. Chinese banks court crypto clients.

Shares of Singapore-based cryptocurrency miner Bitdeer have slid more than 35% since their Nasdaq debut on April 14, and were trading at US$6.41 at closing on Wednesday.

Bitcoin slid below the US$29,000 mark on Thursday morning in Asia. Ether lost hold of US$2,000 in a sell-off across all top 10 non-stablecoin tokens.

Intel has announced it would shut down its Bitcoin mining chip production a year after launch.

The U.K. could see digital asset regulation in the next 12 months as part of a push to turn the nation into a hub for digital assets, said economic secretary to the Treasury, Andrew Griffith

Bitcoin is expected to hit a high of US$42,225 in 2023 and close the year around US$35,485, according to a survey by Finder.

UAE’s Securities and Commodities Authority said Monday it has started accepting applications for operating licenses from cryptocurrency businesses.

Nothing in life is free. Be wary of crypto exchanges that offer ‘free trading,’ and ask hard questions about how they make money, writes Ben Caselin of MaskEX.

The founder of Terraform Labs, Do Kwon, reportedly retained a law firm in South Korea before the April 14 wipeout in TerraUSD’s value, according to a Bloomberg report.

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.

The global culture of decentralized autonomous organizations arrived in Japan last week for DAO Tokyo, the first event of its kind in Asia according to the organizers, drawing over 350 founders and contributors from all corners of the world for discussions on all things DAO.

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

Crypto’s share of venture capital money is now going to artificial intelligence, says Mysten Labs founder, Evan Cheng.

Bitcoin moved within a couple of hundred dollars of the US$31,000 ceiling in trading later in the week as market sentiment improved after Ethereum’s successful upgrade to unlock staked Ether. The Ethereum token broke above US$2,000 on Friday. Weaker inflation readings out of the U.S. later in the week pushed recession worries off center stage and generated some demand for “risk-on” assets, including Bitcoin, with some crypto enthusiasts seeing US$32,000 as the next barrier to break.

Securing keys is an issue that has bedeviled the crypto world, as the $600M Ronin and $300M Wormhole heists have painfully shown. Is there a better way?

Bitcoin and Ether rose during Asian trading hours on Thursday, along with all of the top 10 non-stablecoin cryptocurrencies by market capitalization. Ether rose the most, following the successful completion of the Shapella upgrade.

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.

ZA Bank, the largest virtual bank in Hong Kong, has started offering cryptocurrency conversion services through licensed crypto exchanges.

On-chain limit orders offer an alternative to centralized exchanges by improving transparency and security, writes Ramani Ramachandran of Dfyn. What are the drawbacks?

Japan’s top finance diplomat, Masato Kanda, announced on Tuesday that the G7 nations will work together to help developing countries introduce CBDCs in line with international standards. 

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

China has fined Bitmain, one of the world’s biggest producers of cryptocurrency mining rigs, nearly US$3.6 million for alleged tax violations, according to the Beijing tax authorities.

Singapore-headquartered crypto mining firm Bitdeer Technologies is set to go public on Nasdaq on April 14 via a SPAC merger following multiple delays in closing the US$4 billion deal.

The NFT industry is gathering at New York for NFT.NYC, but the overloading frequency of events could be causing “event fatigue.”

A common regulatory framework for all countries is underway, India’s Finance Minister Nirmala Sitharaman said on Monday.

Hong Kong has established the Institute of Web 3.0 to facilitate the development of the crypto ecosystem in the city, directed by a former head of HKMA.

Traditional institutions are testing crypto waters, but given last year’s market carnage, it’s not easy to gain their confidence, writes Simon Schaber of Spool.

Paul Chan said it is the right time for the city’s Web3 push ahead of Hong Kong’s busy week of blockchain and finance gatherings.

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

A major state-owned firm in China is launching two cryptocurrency funds in partnership with investment firm Waterdrip Capital. 

Amid the current banking crisis, each side is exhibiting disdain for the other when neither holds the moral high ground, writes Rachel Lin of SynFutures.

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.

Three Canadian cryptocurrency companies announced a merger on Monday, creating Canada’s largest crypto asset trading platform with over 1.65 million registered users.

The Philippines has licensing requirements and proactively monitors crypto firms, while the US regulates by enforcement only after consumers are already badly hurt, writes Robert De Guzman of Coins.ph.

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.

Government officials from Hong Kong and mainland China talked about cryptocurrencies at the Boao Forum in China, as both chase Web3 ambitions.

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.

From traditional finance to digital transformation – how can both learn from each other?

Hong Kong may issue virtual asset trading licenses to at least eight cryptocurrency-related firms by the end of this year as part of the city’s new crypto licensing regime, said Angelina Kwan, chief executive officer of financial services firm Stratford Finance and a former regulator of the Hong Kong Securities and Futures Commission.

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.

The blockchain world is hampered by many of the same problems as the early internet, writes Amrit Kumar of Altlayer. What could RaaS do for the industry?

The SEC has charged the Beaxy crypto trading platform and its executives for operating as an unregistered exchange, broker, and clearing agency.

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.

Bitcoin rebounded in Wednesday morning trading in Asia along with all other top 10 non-stablecoin cryptocurrencies. XRP led the winners.

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

Bitcoin and Ether continued to fall in Tuesday afternoon trade in Asia, along with most other top 10 cryptocurrencies by market capitalization, after regulators in the U.S. pulled up Binance, the world’s biggest crypto exchange, for allegedly violating trading mandates.

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.

Bitcoin fell Tuesday morning in Asia along with most other top 10 non-stablecoin cryptocurrencies after the U.S. filed a lawsuit against Binance.

China banks in Hong Kong are offering services to crypto businesses, Bloomberg reported on Monday, as more digital asset firms operate in the city.

The Group of Seven industrial countries will discuss tougher rules on cryptocurrencies to improve transparency, protect investors.