Search results: ai

Privacy concerns prompt call for Americans to avoid e-CNY as lawmakers point to use of WeChat app to ‘surveil, threaten and arrest Chinese citizens.’

Retailers reluctant to accept currency they are said not to trust even as large finance sector players offer crypto products and beef up their holdings.

U.S. crypto lending platform BlockFi has been ordered by the New Jersey Bureau of Securities to stop accepting new customers who are based in New Jersey for its interest-bearing accounts due to alleged violations of securities laws. The order takes effect from from July 22. Fast facts In a series of tweets, BlockFi’s CEO and […]

The European Securities and Markets Authority should regulate digital currencies in the European Union, according to a proposal by the Autorité des marchés financiers, France’s securities regulator. Fast facts The AMF said it made sense for a single body to take charge of regulation across the bloc to ensure a Europe-wide framework could be applied, […]

AXS, the governance token of blockchain-based game Axie Infinity, is down almost 50% from its all-time high of US$28.61 last Thursday, according to data from CoinMarketCap. It was trading at US$15.28 at press time. Fast facts Despite the slide, the gains AXS had made over the previous few weeks mean it is still trading more […]

Buskers and street performers who accept electronic or digital currency often receive larger sums than they do accepting only cash, according to a recent survey by RMIT, a university in the Australian city of Melbourne. The trend has accelerated following global lockdowns amid Covid-19 as familiarity with QR codes and other technologies grows. Fast facts […]

The Korea Institute of Virtual Asset Valuation has released its first report evaluating the investment outlook for seven South Korean cryptocurrencies. KiVAV founder Park Jae-kyung said some domestic token issuers may be looking for quick money instead of developing their tokens long term. Fast facts KiVAV’s report, released yesterday, gave only the Mass Vehicle Ledger […]

U.S. Treasury Secretary Janet Yellen says that the United States needs “to act quickly to ensure there is an appropriate U.S. regulatory framework in place” for stablecoins. Fast facts Yellen made her comments at a Meeting of the President’s Working Group on Financial Markets, held on July 19. According to a readout of the meeting, […]

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 […]

Cryptocurrency investment manager Grayscale has started a fund focused on decentralized finance tokens and based on CoinDesk’s new DeFi-specific index, the company has said in an announcement.  Fast facts The fund offers investors a selection of leading DeFi protocols through a market capitalization-weighted portfolio designed to track the index. It allows investors to allocate funds […]

The cryptocurrency market remains quiet, with net inflows of just US$2.9 million last week, according to digital asset investment firm CoinShares’ weekly digital asset fund flows report. Fast facts “The summer doldrums are here, but in line with seasonal expectations,” wrote James Butterfill, a CoinShares’ investment strategist. Bitcoin investment products saw net outflows of US$10.4 […]

In a special Q&A, Yale-NUS College professor Andrew Bailey says the world’s oldest cryptocurrency has untapped potential to promote liberty, equality and justice around the world.

E-CNY white paper explains how it will work with physical RMB while Malaysia steamrolls mining rigs.

Central bank in apparent push for adoption ahead of Olympics as it doubles up on warning over non-state cryptocurrencies.

Hong Kong newspaper the South China Morning Post is making a foray into the world of non-fungible tokens in the latest move by a Hong Kong publisher to preserve content through blockchain technology. Fast facts The SCMP today released its “ARTIFACT” lite paper, a project designed to advocate “a standardized metadata structure for recording accounts […]

The price of Dogecoin rose more than 15% at the weekend after Tesla CEO Elon Musk changed his Twitter profile picture to a photo featuring the dog breed whose likeness features on the memecoin. Fast facts Musk’s new picture featured the billionaire wearing mirrored, aviator-style glasses with a Shiba Inu dog reflected in them. Dogecoin’s […]

Decentralized lending platform Aave will build “Twitter on Ethereum,” its founder, Stani Kulechov, tweeted during the weekend. His message came seemingly in response to an announcement that Twitter founder Jack Dorsey was developing a Bitcoin-oriented fintech platform resembling Aave. Fast facts Dorsey, who is also CEO of payments company Square, tweeted that the firm was […]

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

In viral video, Borneo police use a giant steamroller to destroy 1,069 crypto mining rigs that had been caught running on stolen electricity.

A round of crowdfunding for Ethereum documentary “Ethereum: The Infinite Garden,” which is set to feature Ethereum co-founder Vitalik Buterin and Ethereum Foundation Executive Director Aya Miyaguchi, has exceeded its target of 750 ETH, raising 1,035.96 ETH (around US$2 million). Fast facts In the spirit of decentralization, the fundraising exercise, which ended on July 16, […]

The U.S. Securities and Exchange Commission (SEC) and Ripple Labs have agreed to reschedule the deposition of William Hinman, the former head of the SEC’s Division of Corporation Finance, to July 27. Fast facts Last week, U.S. Magistrate Judge Sarah Netburn ruled to authorize Hinman’s deposition to proceed, with a delay to allow the SEC […]

While the West has first mover advantage in traditional banking, Asia — not wedded to ol infrastructure — now has an edge in the crypto era, says Michael Shaulov of Fireblocks.

Bitcoin interest declines while Rolling Stone gets into NFTs.

Hong Kong’s Securities and Futures Commission today issued a warning that Binance — the world’s largest cryptocurrency exchange by trading volume — was not allowed to conduct “regulated activity” in the city, specifically trading in stock tokens. Fast facts In its statement, the SFC said it was aware that Binance was offering stock tokens in […]

South Korean cryptocurrency exchanges have delisted an estimated 200 crypto coins this year, according to a lawmaker who also says the country’s financial authorities have not prepared appropriate standards for crypto listings and delistings. Fast facts People Party legislator Kwon Eun-hee made the statement in a proposed bill, asserting that 20 virtual asset exchanges in […]

The price of gold is rising with inflation. Then why is ‘digital gold’ Bitcoin’s price stagnant — and public interest in BTC falling to a new low?

Bishijie’s suspension deprives users of industry news and community forum as Beijing continues campaign targeting cryptocurrency sector.

Hong Kong’s Financial Services Development Council — a cross-sector advisory body established by the government to engage the city’s financial services industry — is putting together industry feedback on the government’s legislative proposals related to virtual assets and virtual asset service providers. Fast facts In May, Hong Kong’s Financial Services and the Treasury Bureau released […]

Italy has become the latest jurisdiction to clamp down on Binance amid regulatory pressure around the world centered on the biggest crypto exchange by trading volume. Fast facts Binance Group companies are “are not authorized to provide investment services and activities” in Italy, not even through the exchange’s website, “whose sections called ‘derivatives’ and ‘Stock […]

Play-to-earn game Axie Infinity has caught the blockchain community’s attention in the past few months as the price of its governance token has kept rising. Now it’s hit an all-time high, players are earning some serious money.

Ripple scores major discovery win as judge rules ex-SEC official William Hinman must answer ‘central question’ on Ethereum in the globally-watched case about XRP.

Britain’s financial crimes enforcement agency is set to launch a campaign costing £11 million (US$15.2 million) to warn young people about the risks of investing in cryptocurrencies.  Fast facts Financial Conduct Authority CEO Nikhil Rathi said social media users aged 18 to 30 would be the target audience. “As with the GameStop episode, more people see investment as […]

Music magazine Rolling Stone Australia is releasing a cover as a non-fungible token to coincide with the release of the debut album by pop star Tones and I, according to a company blog post. The album is out today. Fast facts The cover on offer, which features the singer-songwriter, is Rolling Stone Australia’s debut cover […]

CEO Jack Dorsey announced that his mobile payments company Square has created a new division dedicated to decentralized finance (DeFi) on Bitcoin. For now, Dorsey is referring to the new Square Bitcoin DeFi platform as TBD, having not yet decided on an official name.  Fast facts The DeFi space, which has grown exponentially over last […]

Axie Infinity, Meebits and Bored Ape Yacht Club are some of those keeping the market for non-fungible tokens alive.

India seeks crypto advice meanwhile K-drama joins NFT bandwagon

Singapore-based crypto derivatives exchange Bybit today announced the launch of a new cryptocurrency spot trading platform. Fast facts The spot trading platform offered BTC/USDT, ETH/USDT, XRP/USDT and EOS/USDT trading pairs at its launch, and more will be introduced. Traders will be able to buy and sell crypto coins at current market prices once orders are […]

The Reserve Bank of Australia is researching the implementation of a central bank digital currency — despite not seeing a need for it.

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 […]

Australians will soon be able to use Visa cards to spend their Bitcoin holdings for the first time as the global payment giant is partnering with local fintech app CryptoSpend, the Australian Financial Review reports. Fast facts CryptoSpend allows payments to be made in several cryptocurrencies to any account in the Australian banking system, crediting […]

Ever wanted to own a piece of game-worn NBA merchandise, but without that well-worn fragrance? Now you can. Brooklyn Nets star Spencer Dinwiddie is selling a pair of shoes he has worn in-game as a non-fungible token, Forkast.News has learned. Fast facts The shoes on auction are from Dinwiddie’s K8IROS clothing range, and all proceeds […]

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

ICICI blocks crypto transfers as South Korean banks are to report crypto crime.

The9 and BIT Mining — non-crypto firms that pivoted to crypto mining during Bitcoin’s boom — now seek to ‘expand’ overseas.

Proliferation of copycat non-fungible tokens based on media image sparks fresh concerns over authenticity, creators’ rights.

Turkey’s tax authorities have told companies with cryptocurrency-related business to report information on their ultimate controllers as a part of their tax filings. Fast facts An official document states that the requirement is part of meeting Organisation for Economic Co-operation and Development guidelines on tax transparency. Crypto companies must submit their first filings by Aug. 31 […]

C.R.E.A.M. Finance’s Iron Bank today announced that it has facilitated a US$3.5 million loan with cypto art collective PleasrDAO using high-value non-fungible tokens as collateral, according to an announcement shared with Forkast.News. Fast facts Taipei-based C.R.E.A.M. Finance, part of the Yearn finance ecosystem, is a decentralized lending protocol for individuals, institutions and protocols to access […]

ICICI bank, one of India’s largest lenders, has warned its customers against using its international remittance services for transferring any form of cryptocurrency, the Bharat Express reports. Fast facts The Industrial Credit and Investment Corporation of India recently made an amendment to an international remittance form compelling customers to declare: “The above remittance is NOT […]

Financial index provider S&P Dow Jones has launched five new cryptocurrency indices, according to a company statement, bringing its total number of crypto indices to eight. Fast facts The most significant of these new indices is the Cryptocurrency Broad Digital Market (BDM) Index, which includes more than 240 coins and can be used for a […]

The Ontario Securities Commission in Canada and Bybit, a cryptocurrency derivatives exchange headquartered in Singapore, have come to an agreement on the schedule for Bybit’s upcoming enforcement proceeding, according to the OSC. Fast facts The first hearing between Bybit and the OSC — the agency that oversees securities legislation in Canada’s largest province by population […]

London police announced on Tuesday they have seized a record £294 million (US $408 million) in cryptocurrency in less than a month, as part of an ongoing investigation into money laundering. Fast facts According to London police, their recent £180-million (US＄248.8 million) seizure in cryptocurrency comes less than three weeks after a £114-million (US＄157.5 million) […]

As issuer Circle prepares to list and China sounds the alarm over speculation, the mood among regulators is mixed, despite stablecoins’ clear appeal to investors.

South Korean financial watchdog says the nation’s crypto laws will apply to foreign exchanges.

Science institute building given bio-fuel boost as users poo to accrue.

Police in Aichi Prefecture in central Japan have arrested four men on suspicion of crypto investment fraud, according to a report by Kyodo News.  Fast facts According to a person familiar with the matter, it was suspected that a total of at least 6 billion yen (US$54 million) was collected from more than 20,000 people […]

A Shanghai procuratorate has held a seminar gathering judges, police, procurators and scholars to discuss how crimes related to cryptocurrency fit into China’s current legal framework. Fast facts The procuratorate said in a post on Monday that there had been confusion as to how to categorize cryptocurrencies. Some consider them data, while others regard them […]

Non-fungible token platform Nifty’s has announced a partnership with Warner Bros. to launch a giveaway of limited-edition NFTs of characters from the upcoming film “Space Jam: A New Legacy.” Fast facts Space Jam is one of the first major films for which collectible NFTs have been offered. Warner Bros. will give one limited-edition NFT to […]

In the first of a four-part series, Forkast.News looks at how non-fungible tokens may be changing who calls the tune in the recording business.

Soaring BTC and altcoin prices earlier this year drew in new investors, who now worry about the current slump. Will crypto prices rise again, or are modest valuations here to stay?

Grayscale Investments — the world’s largest digital asset manager — has registered its Digital Large Cap Fund with the U.S. Securities and Exchange Commission following the filing of a registration statement Form 10 last year. Fast facts The company has also announced it is filing three additional registration statements via the same form for the […]

Cryptocurrency investment products saw a total outflow of US$4 million last week in the “quietest trading week since October 2020,” according to digital asset investment firm CoinShares’ weekly digital asset fund flows report. Fast facts Cryptocurrency markets remained soft, with Bitcoin seeing US$6.9 million of outflows. Trading volumes in investment products totaled just US$1.58bn for […]

The United Arab Emirates plans to implement a central bank digital currency as early as 2023 Gulf News reports, as outlined in a road map for the Gulf State’s economic future. Fast facts This 2023-2026 roadmap includes seven objectives — including the CBDC rollout — with the aim of making the UAE one of the […]

Korean banks extend partnerships with crypto exchanges — for now. And also in Korea, how to earn crypto during bathroom breaks.

South Korean lenders Kbank, Nonghyup Bank and Shinhan Bank have decided to extend their affiliations with cryptocurrency exchanges until a crypto exchange law compliance deadline of Sept. 24. Fast facts Kbank’s contract ended in June, and Nonghyup and Shinhan’s end in late July. Instead of renewing their contracts with the exchanges, the three banks have […]

Cosmos’s DeFi capital pulling power is set to get stronger as Gravity DEX launches, with Gravity Bridge and the Emeris DeFi portal on the way.

Ban on branded content covers range of financial services and ‘get-rich-quick’ schemes boosted by influencers with young followings.

A 101.38-carat diamond sold at auction in Hong Kong has become the most physical object ever to have been purchased using cryptocurrency, Bloomberg reports. Fast facts The HK$95.1 million (US$12.3 million) sale price nevertheless fell short of the expected US$15 million price, auctioneer Sotheby’s said. A spokesperson for Sotheby’s told Forkast.News it was unable to […]

India-based cryptocurrency exchange CoinDCX has announced the launch of its new Liqueth (LQTH) token, which will enable users to stake Ether — the native cryptocurrency of the Ethereum blockchain. Fast facts Users will be able to stake ETH on Ethereum 2.0 from a minimum 0.1 ETH. LQTH, an ERC-20 token, will be generated and transferred […]

Despite opposition from the U.S. Securities and Exchange Commission, Ripple is pushing ahead with plans to question former SEC director William Hinman, the former head of the regulator’s Division of Corporation Finance, telling the judge overseeing discovery in the SEC v. Ripple Labs lawsuit that Hinman’s deposition has been rescheduled to July 19, according to a […]

The price of Axie Infinity blockchain game’s native token has been on a tear. Why is Small Love Potion (SLP), a token on the AXS ecosystem, also rising?

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.

Market dominance suggests that investors are flocking towards Bitcoin as Covid delta variant concerns hit markets. In Thailand, authorities remind the industry of their stance on cryptocurrency payments.