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Regulation
The European Central Bank (ECB) has appointed 30 senior business professionals from a range of financial institutions and related organizations to its market advisory group for the digital euro project, according to a media statement. Fast facts The appointment of industry members to the advisory group follows the ECB’s launch of its digital euro project […]
Michelle Lim
Regulation
The South Korean government pushes forward its plan to tax crypto income beginning in January while investors and lawmakers criticize the pending tax law for its loopholes, with one lawmaker mentioning NFT goods of K-pop mega-group BTS. Fast facts The National Tax Service (NTS) of Korea met with 28 domestic cryptocurrency exchanges earlier this week […]
Danny Park
Regulation
Mining pool Spark Pool, which was once a major Ethereum mining pool, says its users may withdraw existing balances, but beginning Nov. 1 it will no longer offer other services related to mining for both domestic and international users, the company said in a statement. Fast facts Spark Pool last month reacted swiftly to China’s […]
Timmy Shen
Regulation
Recent developments indicate the government is looking to regulate the sector instead of quashing it, and industry experts remain optimistic.
Monika Ghosh
Regulation
The Municipal Administrative Center of Beijing officially announced the launch of an e-CNY enterprise zone to “explore the digital renminbi financial system.” The plan includes support for experimental digital currency projects including by increasing 5G infrastructure to enable faster transactions. Fast facts E-CNY is China’s central bank digital currency (CBDC). It is anticipated to be […]
Ningwei Qin
Regulation
Tether Operations, the company behind Tether (USDT) — the largest stablecoin by market capitalization — today announced that it will be trialing Notabene’s crypto travel rule compliance product for cross-border stablecoin transfers. Fast facts USDT has a market capitalization of over US$70 billion and over US$64 billion in 24-hour trading volume, according to CoinGecko data. […]
Michelle Lim
Regulation
Local miners told Forkast.News that existing legal miners won’t be much affected, though they’re still subject to power rationing.
Timmy Shen
Regulation
U.S. Securities and Exchange Commission chair Gary Gensler has reiterated over time that most stablecoins are securities and should, therefore, fall under the purview of the securities watchdog. Now, Gensler is one step closer to achieving his aim of regulating stablecoins. Fast facts The U.S. Treasury Department and other agencies are putting together a report […]
Monika Ghosh
Regulation
While the government signals it is ready to promote the industry, the country’s banks remain unimpressed. ANZ has already settled its de-banking case with Allan Flynn, but as the tribunal with Westpac concluded over the weekend, what should we expect from the outcome?
Lachlan Keller
Regulation
Mainland China’s recent ban on crypto, the most draconian yet, did not come as a surprise to those in the know, says Angelina Kwan of HashKey Group. How will this affect the crypto hub of Hong Kong?
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