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Agricultural Bank of China has set up a fintech innovation center in Xiong’an, a model for a so-called smart city.

Interview with Phil Mochan, founder of UK-based custody provider Koine Forkast.News: What is a custody solution? What’s the difference between simple cold storage and custody? Phil Mochan: Custody is about a lot more than simply managing safes (or cold stores). The trade settlement process is an integral part of the function of the custodian. At […]

Ethereum is bearing the brunt of negative sentiment on crypto, with net outflows from institutional products related to the token hitting a record of US$50 million last week.

The need for custody Who holds the keys? Who looks after the digital assets? The person with control has custody. For an exchange, that custodian should be a third party for better risk management, more robust security and improved accountability. There is no shortage of examples of the inherent problems that can arise when exchange […]

Samsung Asset Management, South Korea’s biggest asset manager, has launched a fund tied to a virtual world known as the metaverse.

Mexico’s finance minister reiterated his country’s ban on cryptocurrencies on Monday, saying they are not legal tender and are not to be treated as currencies within the country

Bitcoin’s hashrate fell to 58.7971 exa hashes per second on Sunday — the lowest point since August 2019.

The Monetary Authority of Singapore is inviting proposals for retail central bank digital currency innovations to improve payment services.

Interview with Thor Chan, CEO of AAX Forkast.News: The value of digital assets has exploded during the last year, and we are now at levels well above previous forecasts. What are you seeing in the market right now? Thor Chan: We think that the global crypto market is growing. More money is flowing in, and […]

Managing trading volume and geography The importance of having the right infrastructure to drive an exchange – any exchange, not just ones for digital assets – cannot be overstated. It provides the engine that lies behind every software platform.  Investors need to know they can execute trades without outages or other interruption. As well, they […]

Prototype launches in Hong Kong, with children able to collect digital currency and NFTs instead of arcade coupons.

Interview with Lorne Chambers, Global Head of Sales and Marketing, LSE Forkast.News: How does LSEG Technology’s matching engine ensure orders are closed with as little latency as possible? How does this prevent the phenomenon of negative convexity, where the market moves away from the position staked out by the trader? Lorne Chambers: The architecture of LSEG Technology’s […]

This report is about the development of digital assets, cryptocurrencies and tokenization and how that all-important confidence is established. Thank you for your interest in digital assets and the role of digital asset exchanges, custodians and the value digital assets offer to investors looking to diversify.  For any currency, digital or otherwise, confidence in the […]

How China’s deployment of the digital yuan intertwines economics with geopolitics and concrete with virtual infrastructure, from Cambodia to the Caribbean.

Executive Summary The crypto market of 2020 is not the crypto market of 2013. What was once a cryptocurrency market is now a digital asset market. Blockchain’s strengths in efficiently and transparently tracking assets have given birth to an industry of assets represented by tokens, allowing both a new class of investors to have exposure […]

Table of contents Foreword For any currency, confidence is essential. This report is about the development of digital assets, cryptocurrencies and tokenization and how that all-important confidence is established. by Angie Lau, Forkast Editor-in-Chief Executive summary and introduction The crypto market of 2020 is not the crypto market of 2013. What was once a cryptocurrency […]

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forkast.studioIt’s time for a new kind of conversation We are at a crossroads: societally, politically, economically, technologically, publicly, and personally. All roads are leading to this moment. And so we meet.  The brave new world of disruption has landed. How we “speak” to each other now must reflect this new reality –– from face-to-face human […]

Why are so few adopting FATF guidance for VASPs? Money laundering watchdog decries ‘continued misuse of virtual assets through jurisdictional arbitrage.’

Payment for listings raises questions over integrity of cryptocurrencies’ credit scores as compliance deadline nears.

As China shuts down crypto mining over environmental concerns, miners are moving next door to Kazakhstan, one of the most coal-rich countries in the world.

Hong Kong’s financial secretary has reiterated the city’s determination to develop digital versions of the Hong Kong dollar and the mainland Chinese yuan.

Elon Musk set off a new SHIB price rally after tweeting that he would name his Shiba Inu—the dog breed that the joke meme coin is named after—’Floki.’

SEC does not want its former head of Corporation Finance to testify or answer question about XRP. Who is William Hinman — and what might he tell Ripple?

A major Ethereum upgrade via London hard fork — which experts call a ‘seismic shift’ for the industry — is coming soon. Are ‘Ethereum killers’ doomed?

Urged on by the authorities, banks have wasted little time in putting e-CNY infrastructure in place, but now comes the hard part — getting people to use it.

Crypto exchange Gemini has bought US$4 million in carbon credits to offset the environmental impact of its Bitcoin holdings

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Stories of emerging technology at the intersection of business, economy, and politics. From Asia, to the world. Technology is by its very nature, disruptive. But understanding it also helps us navigate this age of disruption better. Forkast was started in 2018 with a simple premise: Technology should be understood by the people it will impact […]

Law enforcement agencies in several countries have arrested suspected members of a crypto-linked cybercrime group believed to be responsible for laundering more than US$500 million from ransomware attacks.

A university in Paraguay has announced that it will begin accepting cryptocurrency as payment for tuition starting from August.

The Bank of Israel is testing its central bank digital currency, the digital Shekel, in a private permissioned ecosystem using Ethereum.

Nearly one in three novice traders reported making no traditional investments outside crypto over the past year, according to a survey published today by Overbit, a Singapore-based cryptocurrency exchange. In contrast, 85.3% of professional traders reported diversifying their investment portfolios to stock, real estate or other traditional assets. Fast facts: The survey of 3,000 traders […]

South Korea’s presidential office has reacted defensively to a petition calling for the chief of the country’s main finance sector regulator to step down over comments he made about cryptocurrencies.

Auction house Lloyds Auctions Australia has begun accepting cryptocurrency for all purchases on its marketplace.

Crypto exchange Binance is launching a non-fungible token marketplace, auctioning NFTs of artworks by Andy Warhol and Salvador Dali.

A judge has granted Ripple’s request to force the U.S. Securities and Exchange Commission to reveal its non-public policies regarding whether agency employees may buy and sell XRP and other cryptocurrencies, according to a screenshot of a new legal filing shared by the lawyer representing XRP holders. Fast facts: Earlier this month, Ripple sought the […]

Top blockchain and cryptocurrency news: Bitcoin’s still winning. Titan’s troubles as a teachable moment. Beijing creates a crypto mining diaspora.

In a new report, Bank for International Settlements extols central bank digital currency (CBDC) as the future of money. Will CBDCs replace Bitcoin someday?

Canaan, one of the world’s biggest crypto mining rig makers, has launched its own crypto mining business in Kazakhstan.

South Korean crypto exchange Upbit — the country’s biggest — is facing a lawsuit filed by a university foundation alleging patent infringement.

The U.S. SEC has settled charges against Loci and its CEO, John Wise, for allegedly making false statements in connection with a sale of digital asset securities.

Iranian police have confiscated 7,000 cryptocurrency mining machines from an abandoned factory in western Tehran, the largest batch discovered in recent days.

Chinese payment app Alipay has started selling non-fungible token artwork, finding buyers for a combined 8,000 editions of two artworks within one day.

Two nominees to the U.S. Treasury Department have promised, if they are confirmed in their posts, to implement new regulations relating to cryptocurrency.

After a spate of bad news, Bitcoin’s price tumbled to its lowest level this year before climbing back up to $34,000. Where are BTC prices likely to go next?

Crypto-related crime in the US increased an average of over 300% per year from 2017 to 2020with a total of 82,135 cases last year alone.

Decentralized finance hub Acala Network’s sister network, Karura, has won the first parachain lease auction on Kusama, Polkadot’s pre-production network, and is now successfully producing blocks, according to an announcement today. Fast facts: The successful completion of Kusama’s first parachain slot auction and Karura’s launch brings Polkdot ever closer to its rollout. Karura raised more […]

Better known for uses in art and collectibles, non-fungible tokens can also improve supply chains and prevent fraud. Richard Crook of LAB577 explains how.

South Korean cryptocurrency exchange Upbit is preparing legal action against crypto coin issuer Pica Project, whose tokens it has delisted from its platform.

France’s central bank has successfully completed a central bank digital currency experiment involving the settlement of listed securities with Switzerland’s SEBA Bank.

Iron Finance, once a DeFi darling, went from billions to bust in a day. Should investors have seen the crash coming? How stable are algorithmic stablecoins?

Sotheby’s has announced it will be accepting cryptocurrency as payment in an upcoming auction for a 101.38-carat diamond with flawless clarity.

The People’s Bank of China has told the country’s big banks and other finance sector heavyweights to cut off financing sources for cryptocurrency transactions.

Against a backdrop of El Salvador’s BTC boosts, famed investor Michael Burry warns about a crypto price bubble and China intensifies its crypto clampdown.

Two of China’s largest state-owned banks, the Industrial and Commercial Bank of China (ICBC) and the Agricultural Bank of China (ABC), are now offering two-way exchange between fiat cash yuan and e-CNY digital currency through more than 3,000 ATMs in Beijing, according to reports in local media.  Over 3,000 ATMs in Beijing managed by ICBC […]

South Korean lenders have started money laundering risk assessments of the country’s “big four” cryptocurrency exchanges, with which they have contracts to provide real-name accounts.

European digital asset manager CoinShares hasannounced a partnership with German financial news portal Finanzen.net to bring crypto exchange traded products to investors with no trading fees.

The Bitcoin hashrate plunged over the weekend following a clampdown on cryptocurrency mining by the southwestern Chinese province of Sichuan.

Following El Salvador’s move to become the first country in the world to recognize Bitcoin as legal tender, a Paraguayan congressman has announced plans to do the same in the South American nation next month.

The number of Australian women investing in cryptocurrency has grown this year from 7% in January to 11% in June.

Crypto literacy of Indian regulators is evolving and crypto players are trying to keep industry clean via self-regulations, says Nischal Shetty of WazirX.

The city’s mayor says it welcomes an exodus of miners from China amid a generalized clampdown on the industry.

Miners face imminent shutdown as power companies told to cut electricity, according to multiple reports.

Dashing hopes of greater regulatory clarity for the cryptocurrency industry, the U.S. Securities and Exchange Commission’s recently released annual regulatory agenda does not mention Bitcoin or cryptocurrency regulations.

Global securities index MSCI plans to launch a cryptocurrency index, according to CEO Henry Fernandez.

Institutional digital asset manager Grayscale announced today that it is exploring 13 more assets for its trusts, mainly related to decentralized finance.

Chinese stock trading app Futu Niuniu has suspended Chicago Mercantile Exchange cryptocurrency futures services and stopped supplying crypto market information.

Australian investors adversely impacted by repeated system failures on Binance are considering taking a class action lawsuit to recoup their losses.

The National Republican Congressional Committee in the US will begin accepting donations in cryptocurrency.

Singapore-based decentralized exchange SynFutures has closed a $14 million series A round to bring crypto derivatives to new users around the world.