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The Indian ministry of finance has formed a panel to examine how income from crypto investments can be taxed, according to a report by Inc42. Fast facts The panel will evaluate whether crypto income can be taxed as capital gains or if it requires the formation of a new category. The committee is required to […]

Ripple’s win in Bhutan comes as it suffers a setback in a US court as judge rebuffs Ripple’s request for SEC’s internal trading decisions over XRP.

The cryptocurrency market has rebounded in the past 24 hours as news broke that China Evergrande Group, the second largest property developer in the world’s most populous nation, has taken a step back from falling off a potential debt cliff today. Fast facts While the overall cryptocurrency market is still down for the week, all […]

Cobo, a Singapore-based crypto custody and asset management platform, today announced the completion of its US$40 million Series B fundraise to accelerate the rollout of its decentralized finance (DeFi) as a service (DaaS) product. Fast facts In an interview, Cobo Chief Operating Officer Lily Zhuo told Forkast.News that Cobo’s DeFi as a service (DaaS) product, […]

Top blockchain and crypto news: Evergrande end-game roils crypto markets. SEC takes aim at stablecoins. How close is China’s digital yuan to the finish line?

Nirmala Sitharaman says ‘a futuristic thing can’t be shut out’ as the country considers crypto regulation, including a possible blanket ban.

Decentralized finance platform Vee Finance, which is based on the Avalanche blockchain, has suffered from a hack that saw the loss of Ether and Bitcoin tokens worth US$35 million, the lending platform announced on Tuesday. Fast facts Vee Finance suspended the platform’s contracts as well as its deposit and borrow function to protect user assets […]

Audius is enjoying outsized buzz. Should Spotify be scared? In this Forkast.News explainer, learn how this blockchain startup could threaten music industry money — and power.

In an interview by the Washington Post on Tuesday, U.S. Securities and Exchange Commission Chairman Gary Gensler questioned the future of cryptocurrency, saying, “I don’t think there’s a long-term viability for five- or six thousand private forms of money. History tells us otherwise.” He added that “in the meantime, it’s worthwhile to have an investor […]

Evergrande debt woes hit crypto meanwhile Mooncakes are in the metaverse

With only a few days left until Korea’s regulatory deadline for virtual asset exchanges, all have accepted the government mandate in service suspension except for one exchange, Gopax. Fast facts Twenty-four virtual asset exchanges in South Korea are in limbo — they have only met one of two new requirements, and were subsequently asked by […]

From crypto-embossed mooncakes to mooncake NFTs to gatherings in the metaverse, how Asia’s crypto fans are celebrating the Mid-Autumn Festival.

Crypto investors and industry watchers are following closely the potential collapse of Chinese property giant Evergrande.

Blockchain communities are instrumental to shaping how projects develop and operate, writes Humpty Calderon of Ontology. What are the signs of a thriving ecosystem?

Despite suffering a network outage due to a denial-of-service attack that took the Solana network offline for 17 hours on Sept. 14, Solana funds continued to see inflows of US$4.8 million last week, according to digital asset manager CoinShares. Fast facts “This suggests investors were happy to shrug-off the attack, seeing it as teething problems […]

Upbit can operate as a virtual monopoly as it becomes the country’s first licensed business to handle cryptocurrencies.

Upbit passes Korea crypto race post meanwhile P2P transactions surge in India

ETH 2.0 is expected to address transaction speeds and gas fees on the world’s number two blockchain, but a growing number of layer-2 protocols are looking to solve those issues today.

Black Friday for Korean exchanges while E-CNY launch in final stretch

All but four platforms in South Korea obligated to announce the suspension of their services by today.

AVAX and SHIB outperform Bitcoin, which gained in price but shied from the $50K mark.

Blockchain research firm sees explosive growth in smart contract-based products that can replace existing financial services.

As Cardano’s Alonzo upgrade goes live, founder Charles Hoskinson of IOHK calls DeFi a ‘bubble.’ How does he think the regulation that is sure to come will reshape DeFi in the future?

Canaan reports record revenues meanwhile Korea says no to crypto tax delay

Leading Chinese crypto mining hardware manufacturer attributes robust revenue to ‘substantial increase in total computing power sold.’

South Korea’s finance minister Hong Nam-ki gave a firm “no” at the National Assembly to lawmakers asking for crypto taxation to be delayed until the industry is fully prepared. Fast facts Minister Hong insisted the plan to tax capital gains from cryptocurrency transactions should be executed as planned. The amended tax law stipulates that crypto […]

African countries collectively received US$105.6 billion worth of cryptocurrency between July 2020 and June 2021, a year-on-year increase by more than 12 times, blockchain data platform Chainalysis said in a report. Fast facts The adoption rate of cryptocurrency in Africa at the grassroots level is the highest in the world. And retail transactions in Africa […]

Solana validators complete restart also Laos ends crypto ban

Top blockchain and crypto news: Walmart dispels Litecoin hoax. Cardano’s real work begins. Beijing bears down on NFTs.

SOL had been on a tear but is now losing ground. Is Solana a victim of its own success — or does the network have deeper problems?

The government of Laos has authorized six firms to trade and mine cryptocurrencies, ending a ban imposed in 2018, according to a recent notice from the prime minister’s office.  Fast facts Laos had implemented a complete ban on cryptocurrencies three years ago, including on trading and mining activities. As recently as last month, the country’s […]

Mid-sized crypto exchange Foblgate announced the closure of its Korean won (KRW) trading functions in advance of a government mandate banning digital asset platforms from operating cash-to-crypto services without a local bank partnership. Fast facts Foblgate announced it is temporarily suspending its KRW withdrawal, deposit and trading market between cryptocurrencies and the Korean won. Instead, […]

FTX hit by hack rumor meanwhile Korea updates crypto death note

More provinces in China are putting new limits on the cryptocurrency mining sector, as the country works toward its carbon neutrality goals and concerns over cryptocurrency trading loom. Fast facts Authorities in North China’s Hebei province today issued a notice to crack down on cryptocurrency mining and trading activities, saying that crypto mining consumes huge […]

Scams and fake news have long dogged the crypto world. This week saw two major blockchain companies and a global retailer get swept up by hack rumors or hoaxes.

Institutional investors continued to buy into Solana investment products despite the market correction last week, according to a report by digital asset manager CoinShares. Fast facts Solana prices, which have soared by over 13,000% this year, reached an all-time high of US$213.47 on Sept. 9, according to CoinGecko data. Solana briefly overtook XRP to become […]

Broctagon Fintech Group is launching what it hopes will become a new global standard for cryptocurrency exchanges to reduce price discrepancies. Will it work?

CrossTower became the second international crypto exchange to enter the Indian market last week after Binance made its entry by acquiring WazirX in 2019.

A sister paper of the People’s Daily, Securities Times, published an opinion piece to criticize non-fungible tokens (NFTs) as hype and suggested the digital assets should serve the real economy by tokenizing actual assets. Fast facts The article offers as an example Justin Sun’s NFT purchase of a digital avatar for US$10.5 million and the […]

E-CNY problems to be solved, also China sees warning over NFT hype

A few altcoins managed to stand out coming into the working week as Solana’s tear comes to an end.

In this Forkast.News explainer, learn why blockchains with smart contract capability are surging in popularity and the new darlings of investors.

Iran, which imposed a temporary ban on Bitcoin mining a few months ago, continues to crack down on illegal crypto mining operations, closing down thousands of unauthorized mining facilities, according to local media reports. Fast facts The Iran Power Generation, Distribution and Transmission Company, also known as Tavanir, told the state-run ISNA that it had […]

Why is Axie Infinity so popular, and what is the potential of play-to-earn gaming? Two venture capitalists share insights on Asia’s special place as GameFi’s hub.

Cardano smart contracts set for Sunday also CrossTower launches in India

Payments giant Mastercard announced it is extending its reach into the realm of cryptocurrency with the acquisition of CipherTrace, a blockchain analytics startup, for “greater security, transparency and trust to digital assets across the ecosystem.” Fast facts CipherTrace, which calls itself the world’s first blockchain forensics team, provides cryptocurrency tracking and investigation services. It launched an […]

Cardano’s Alonzo hard fork will bring smart contracts and NFT support to the world’s third-largest blockchain. What will it mean for the crypto market?

Two of Australia’s “Big Four” banks — National Australia Bank and Westpac — have hit back at criticism they are suppressing competition by refusing to do business with cryptocurrency providers in the country, according to a report. Fast facts While neither of the banks have formal policies excluding crypto businesses, NAB chief executive Ross McEwan […]

The Sandbox, Animoca Brand’s subsidiary for decentralized virtual gaming, announces partnership with animation studio in Korea.

China-based Bitmain, one of the world’s biggest producers of cryptocurrency mining rigs, has sealed a deal with its United States partners — ISW Holdings and Bit5ive — to expand its operation in America. Fast facts ISW Holdings, a Nevada-based portfolio company with extensive crypto mining operations, will host 56,000 Bitmain mining rigs and pair them […]

Ripple wants to know how SEC regards Bitcoin, Ether and XRP, but SEC says Ripple is repeating the same questions as ‘they do not like the answers they received.’

Initium Media, also known as 端傳媒, is turning to blockchain technology to grow revenue and to ensure controversial news does not get forgotten — or tampered with.

Despite significant losses across the board, industry experts are not too concerned, seeing the plunge as normal market behavior.

What are the different kinds of blockchain, and how do they compare? Learn all about public, private and permissioned platforms in this Forkast.News explainer.

Solana hits all-time19 high as FTX’s NFT marketplace spammed

FTX is the latest crypto exchange to join the NFT bandwagon. “Make your own NFTs,” CEO Sam Bankman-Fried tweeted. 

Charles Randell, chairman of the U.K.’s Financial Conduct Authority and chair of the Payments Systems Regulator, singled out celebrity influencer Kim Kardashian in his latest speech for endorsing a relatively unknown and unregulated token. Fast facts In June, Kardashian endorsed EthereumMax, a project launched by unknown developers in May 2021. Kardashian, wife of rapper Kanye […]

Solana (SOL) is continuing to break new ground, gaining 22% in the past 24 hours to reach a new all-time high of US$177.95 at press time, according to data from CoinMarketCap.com. Fast facts It has been a historic run for the network, which rose 45% over the previous week to reach its previous all-time high […]

It’s hard to move forward on a CBDC when those in charge can’t agree. Is time running out for an American digital dollar?

The broader market recovery following the May crash continues with five of the top 10 coins by market cap showing double-digit growth over the past seven days, according to data from CoinMarketCap.com. Fast facts Continuing its historic run, Solana (SOL) showed the most movement, gaining over 45% this past week to hit a new all-time […]

Gajesh Naik and Laya Mathikshara, two Indian 13-year-olds, are getting global recognition — and making astronomical sums — through their ventures in crypto and NFTs.

Too small to fight as individuals, Binance users are now banding together to take on the world’s largest crypto exchange in arbitration. David Kay of Liti Capital explains how it’s done.

As governments and citizens embrace digital currencies of all kinds, from Bitcoin to CBDCs, here’s what the world and daily life could look like.

The veil of uncertainty that has shrouded crypto regulatory discussions seems to be lifting, but how the government will regulate and tax digital money remains to be seen.

Deadline looms for Korean exchanges as Doge meme valuation explodes

In another positive move for Japan’s crypto industry, financial services group SBI Holdings Inc. plans to launch a crypto fund in the country before the end of November, according to a report by Bloomberg. Fast facts Citing Tomoya Asakura, president of SBI affiliate Morningstar Japan K.K., Bloomberg reported the fund could grow to several hundred […]

What does it mean to own an NFT? Furthermore, what does it mean to own a billionth of an NFT? For Doge lovers, it might be a good investment, or barking mad.

Poolin, a major cryptocurrency mining pool with significant operations in China, on Thursday announced a partnership with Quant Satoshi to further expand its mining operation in the U.S. Fast facts Poolin has partnered with Quant Satoshi, an American quantitative trading firm that focuses on crypto high frequency trading, to expand Poolin’s U.S. presence, the company […]

As Bitcoin continues to battle the $50,000 level, Ethereum rises in dominance while smart contract platforms Solana and Cardano buck the sideways trend to reach new price levels.

In the first eight months of 2021, the fledgling but fast-growing cryptocurrency industry saw almost as many companies come to market as 2019 and 2020 combined, according to the “The Arrival of Cryptocurrency Stocks” report published this month by CoinShares Research. Fast facts As of August 20201, there were 57 publicly listed cryptocurrency pure play […]

Overruling Ripple’s objections over cost, a judge gives the SEC a green light to review more XRP-related Slack communications.

India crypto exchanges allow bank deposits while FTT token on a roll