Search results: AR

China’s BSN to launch in South Korea portal as Chinese Canaan secures huge mining rig orders

The order follows a June purchase by Genesis of 10K machines from China-based Canaan, one of the world’s biggest Bitcoin mining rig makers

A week out from El Salvador’s adoption of BTC as legal tender, the country’s legislative assembly has approved a US$150 million trust to help facilitate exchange between BTC and the U.S. dollar – the nation’s current official currency, according to a report by local newspaper El Diario de Hoy. Fast facts Last week, Forkast.News reported […]

The Securities Association of China (SAC), a self-regulatory organization for the securities industry, recently held a symposium with Chinese brokerages to promote blockchain applications in China’s securities industry. The deputy director of the association’s Tech Bureau, Dongxing Jiang, said the association will implement its blockchain infrastructure plan, known as the “Securities Industry Alliance Chain,” and […]

Dogecoin keeps spawning pups, and this time, it could be quite a litter. In yet another spinoff of the crypto industry’s biggest meme, fractionalized ownership of the non-fungible token (NFT) of the original Shiba Inu image that launched Dogecoin is up for sale today in the form of $DOGE tokens, Bloomberg reports. Fast facts Ownership […]

FOMO Pay, a Singapore-based fintech company, announced today that it has obtained a license from the Monetary Authority of Singapore (MAS) to provide Digital Payment Token Service — the first such approval out of 170 applicants for the city-state that is rapidly becoming a global crypto hub. Fast facts FOMO Pay said it had been […]

As its first international expansion, China’s Blockchain-based Service Network is launching a portal in Korea. Who are the key players, and where else in the world will BSN emerge this year?

Blockchain is helping with cross-examinations in China while bolstering chain of custody for evidence in Taiwan. Is Asia ahead of the technological legal curve?

MetaMask, a non-custodial wallet that allows users to interact with the Ethereum blockchain and Ethereum-compatible networks such as Polygon, has seen its monthly active users surge over 1,800% in the past year to surpass 10 million, according to ConsenSys, an Ethereum blockchain software developer. Fast facts Alongside the explosive growth of the Ethereum ecosystem from […]

A fascination with 8s could be related to the fact that the Chinese pronunciation of the number 8 or “Ba” is similar to that of “發” or “Fa,” which stands for wealth and prosperity.

The battle over discovery escalates between SEC and Ripple over what might have been said about the XRP at Ripple’s all-hands meetings since 2014. Will there be popcorn?

The hot play-to-earn token game Axie Infinity is under increased scrutiny from Philippines tax  authorities. The country’s central bank said it is closely monitoring how players use game tokens to decide whether to classify and regulate Axie’s parent company as an entity that runs payment systems. Fast facts The central bank, Bangko Sentral ng Pilipinas, […]

C.R.E.A.M. Finance, a Taipei-based decentralized lending platform for individuals, institutions and protocols to access financial services, has suffered a flash loan exploit that led to a loss of about US$28 million, underlining the potential vulnerabilities of decentralized finance mechanisms. Fast facts C.R.E.A.M. tweeted on Monday that its market on Ethereum suffered an exploit, “resulting in […]

Three of South Korea’s four major exchanges have launched a joint venture to develop solutions for complying with the Financial Action Task Force’s (FATF) crypto travel rule. The travel rule sets a global standard for virtual asset service providers to combat money laundering and terrorist financing and requires exchanges to collect information on senders and […]

Zipmex, a Singapore-based cryptocurrency exchange, has completed a US$41 million Series B funding round as it innovates toward a “full 360 digital banking offering,” the company said during a media briefing today. Fast facts Investors in Zipmex’s Series B funding round indicate increasing institutional buy-in to the digital assets industry. The investors include Krungsri Finnovate, […]

Facebook’s Novi is ready to launch. Here’s why the Diem crypto wallet might find an especially warm welcome in places like the Philippines and Malaysia.

The9 Ltd., a Chinese gaming company that pivoted earlier this year to cryptocurrency mining, unveils plans to get into non-fungible token business, reflecting the company’s ambition to ramp up its blockchain-based operation. Fast facts Nasdaq-listed The9 has announced that its Singapore-based subsidiary NFTSTAR Singapore Pte. Ltd. will launch a NFT trading and community platform NFTSTAR […]

John Paulson, the billionaire who famously shorted the U.S. subprime mortgage bubble in 2008, has called crypto a bubble that will “eventually prove to be worthless” in an interview with Bloomberg TV. Fast facts “I wouldn’t advise anyone to invest in cryptocurrencies,” said the 65-year-old, who has consistently backed gold as a store of value. […]

Korea’s love for crypto continues while Crypto exchange Bilaxy hacked

New data shows increasing deposits made by teens in virtual currency despite new rules that may close down many platforms in less than a month.

The 20th hijack this month, after Poly Network, Solend and Liquid.

As Bitcoin and Ethereum drop after a quick ascent, the surge of Solana (SOL) continues. SOL hit a new all-time high of US$102.07 today, with its market cap reaching over US$29 billion. The world’s eighth largest cryptocurrency has been consecutively hitting new all-time highs in the past four days. Fast facts The market cap of […]

Tens of billions in digital yuan circulate through the banks’ systems, as leaders encourage wider adoption.

A network patch designed to fix a bug on the Geth network has led to the world’s second-largest blockchain splitting in two.

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 […]

Korea’s new FSC chair speaks meanwhile Axie Infinity to work with governments

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 […]

Axie Infinity, one of the world’s most popular non-fungible token (NFT) games, tweeted that it is “looking forward to working with physical nations” and called for its digital users to abide by the laws of their home countries, presumably a reference to local tax laws. Fast facts The tweet came just days after the Philippines government stated […]

China-based Bitmain, one of the world’s biggest producers of cryptocurrency mining rigs, confirmed in a social media post a 20% price hike in the chips it buys from Taiwan Semiconductor Manufacturing Company (TSMC). Fast facts Bitmain said on Thursday in a WeChat post that TSMC had informed all clients, including the mining rig maker, that […]

The South China Morning Post, Hong Kong’s paper of record for 118 years, is experimenting with NFTs and metaverse technology to bring its storied past into the future.

Anyone who owns a website is now able to receive crypto payments directly to their domain name, as Ethereum Name Service announces full integration with the centralized web. Fast facts Making the announcement on Twitter Friday morning, the new upgrade will bring interoperability between the centralized web and the blockchain-based ENS system. The internet currently […]

While India’s parliament considers a potential nationwide ban on all private virtual currencies, a former governor of India’s central bank says some cryptocurrencies have a “potential future” in the global economy. Raghuram Rajan, ex-governor of India’s central bank and former chief economist at the International Monetary Fund, made his comments at a Reuters Global Markets […]

Rising from the rubble of a Covid economy, shipping companies are now using blockchain technology to rebuild profitability and reduce inefficiencies.

In a special Q&A, an Antinalysis spokesperson reveals the source of the company’s controversial data and disputes that it’s for criminals. ‘Privacy is a human right.’

Korea reveals crypto exchange ‘Death Note’: DeFi investment booms

Bitcoin miners saw another mining difficulty adjustment on Wednesday night, with an increase of 13.24%, according to data from BTC.com. Fast facts The mining difficulty level is now at 17.62 trillion at block height 697,536, reflecting a 13.24% increase from the last adjustment, the data showed. The latest adjustment follows two increases after four consecutive […]

Amid global supply shortage, the move could impact clients such as mining rig maker Bitmain, which sources TSMC’s wafers for its Antminer S19 series.

24 out of 63 digital currency exchanges in South Korea are not expected to meet new compliance requirements and will most likely be shut down in less than a month.

While DeFi has historically moved with the Ethereum price, the latest all-time high in total value locked in can largely be attributed to new blockchains purpose-built for the sector and institutional interest.

Meitu, a Hong Kong-listed Chinese technology company best known for its popular beauty apps, saw an RMB111,907, 000 (US$17.3 million) impairment loss on its Bitcoin holdings in the first six months of 2021, the company reported in its latest financial results. Fast facts According to Meitu’s Aug. 25 HKEX filing: “the decrease in fair value […]

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 […]

While the funds stolen in last week’s cyberattack on Liquid are yet to be returned, the Japanese exchange has secured a US$120 million loan from fellow exchange FTX to cover losses. Fast facts Sam Bankman-Fried, the billionaire CEO of Hong-Kong based FTX, took to Twitter to make the announcement, saying he had always admired Liquid’s […]

Binance Markets Limited, the British affiliate of the world’s largest cryptocurrency exchange, is now compliant with the requirements that the U.K.’s Financial Conduct Authority imposed on the company in June, the FCA said Wednesday. Fast facts The FCA had, back in June, issued a warning to Binance Markets Limited and the Binance Group and imposed […]

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

HK football team launches NFTs; Food concept offers crypto mooncakes

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 […]

The team joins a growing number of football clubs around the world launching non-fungible tokens (NFTs) as they look to engage fans and generate new revenue streams.

In a legal first for the region, the Guangzhou Intermediate People’s Court used a new blockchain system in a lending dispute case so the parties can submit evidence and do cross-examination online. Fast facts The “blockchain electronic cross-examination system” allows each side to upload its evidence online. The opposing party, under the judge’s supervision, can cross-examine the […]

Just as Dogecoin prices are once again going to the dogs, a Chicago animal shelter is asking for DOGE donations to help real-life dogs in the dumps. Fast facts PAWS Chicago has launched a “Dogenation” campaign, which allows animal lovers to donate to the charity in cryptocurrencies — not just Dogecoin — via QR codes […]

The magazine unveils two digital-only covers as well as fashion, beauty and design NFTs, all for sale in a new metaverse.

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

A South Korean professor, formerly a committee member in current president Moon Jae-in’s presidential campaign, has been sentenced to two years in prison for promoting a scam cryptocurrency. Fast facts According to local reports, the professor and former advisor to Moon Jae-in’s 2017 electoral campaign was sentenced to two years in jail on fraud charges […]

CryptoPunks sales volume increased by over 1,100% in the last 24 hours

Much of traditional finance still believes DeFi is too risky and not worth the bother, writes Ilia Maksimenka of PlasmaFinance. Are these perceptions accurate?

As the crypto hashrate continues to recover, miners will likely have to work harder for their coins.

The Poly Network hacking saga has finally reached a happy ending with the crypto thieves releasing the last key to the remaining funds of 28,953 Ether and 1,032 Wrapped Bitcoin tokens, worth approximately US$141 million, on Monday. According to Poly Network, the company is in the process of returning full asset control to users, although […]

Iran, which imposed a temporary ban on Bitcoin mining a few months ago, is expected to lift the prohibition next month, according to local media reports. Fast facts The Iran Power Generation, Distribution and Transmission Company told the state-run ISNA that the ban will be lifted on Sept. 22, local English media Financial Tribune reported. […]

Circle, issuer of the world’s second-largest stablecoin USDC, has announced plans to be 100% backed by cash and short-term U.S. Treasuries by September. The company’s most recent attestation showed USDC’s US$22.2 billion supply was backed by only 61% “cash and cash equivalents.” Fast facts Circle had indicated earlier in the month that it wishes to […]

In preparation for El Salvador adopting Bitcoin as legal tender, the nation is rolling out 200 ATMs and preparing 50 bank branches across the nation to allow residents to exchange crypto for fiat easily, President Nayib Bukele has announced over the weekend via Twitter. Fast facts With El Salvador’s Bitcoin adoption bill coming into effect […]

Shaanxi Province has built the province’s first toll lane that supports digital yuan payments; the first payment was successfully made on August 16. Fast facts Shaanxi Province says it will continue to install digital renminbi payment equipment at all expressway toll stations in the province. Shaanxi Province is located in the western inland region of China, and […]

Upbit submits compliance report: China’s e-CNY trials broaden

China’s high penetration of smartphones, digital-savvy population helps reduce e-CNY testing time, observers say

The9 Ltd., a Chinese gaming company that only a few months ago pivoted its business to crypto mining, is setting up another joint venture in Kazakhstan as it ramps up its mining operations in the Central Asian nation that shares a border with China. Fast facts Nasdaq-listed The9 has signed an investment memorandum through a subsidiary […]

Bit Digital, a New York-headquartered Bitcoin mining company that has had significant operations in China, recorded growing losses in the second quarter of this year as it continued relocating its China-based machines to North America. Fast facts In the second quarter of this year, Nasdaq-listed Bit Digital booked a net loss of US$1.34 million, compared […]

The hunt for hackers who stole an estimated US$97 million from the Japanese crypto exchange Liquid last week has hit some snags as the cybercriminals have been actively hiding their tracks with a crypto mixing tool as they move to transfer their loot into other wallets. Fast facts According to public blockchain information on Etherscan, […]

Binance Singapore today announced the appointment of Richard Teng, former chief regulatory officer of the Singapore Exchange (SGX), as chief executive, bolstering its leadership ranks with former regulators while battling growing regulatory woes around the world. Fast facts Teng was CEO of the Abu Dhabi Global Market for six years before stepping down in March. […]

The ideal metaverse is open and interoperable, says Jamie Burke of Outlier Ventures. Here’s how blockchain gaming and NFTs are closing in on that future.

Steelmaker Ansteel Group and lithium battery producer Tianneng are the latest companies to make use of blockchain in accordance with China’s national strategy.

Beset by legal and regulatory woes around the world, Binance — the world’s largest cryptocurrency exchange by trading volume — today announced that it is implementing mandatory know-your-customer (KYC) with immediate effect as it steps up its anti-money laundering (AML) compliance. Fast facts All new Binance users are now required to complete “intermediate verification” — which […]

Coinbase launches in Japan while Binance users take legal action

ADDX, a digital securities exchange headquartered in Singapore formerly known iSTOX, has partnered with Investcorp, a Bahrain-based alternative investment management firm to offer a tokenized real estate fund focused on residential properties in the United States, ADDX announced on Thursday. Fast facts Investcorp raised US$150 million for the fund that has invested in five multi-family […]

Despite a looming compliance deadline, currently there are no crypto exchanges in South Korea that meet the new government reporting requirements to continue operating, according to financial authorities. Fast facts The Financial Services Commission (FSC) revealed through a press release that none of the domestic cryptocurrency trading platforms have successfully complying with the nation’s new […]