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Ripple partners with Qatar’s largest bank to improve cross-border payments

Blockchain payments company Ripple has partnered with Qatar National Bank (QNB) to improve cross-border payments and launch a new remittance platform, Ripple announced on Tuesday. Fast facts QNB will pilot RippleNet, a network of banks and other payment companies developed using Ripple’s technology, with QNB Finansbank in Turkey as part of a group rollout, the […]

Global bodies propose regulatory standards and greater oversight for stablecoins

The Bank for International Settlements (BIS) Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) today published a joint report proposing that international standards for payment, clearing and settlement systems should be applied to “systemically important stablecoin arrangements.” Fast facts The BIS, CPMI and IOSCO report comes amid the […]

How Singapore is emerging as a safe harbor for the Chinese crypto industry exodus

As China intensifies its crypto crackdown, regulatory clarity is a beacon for safer shores in Southeast Asia.

Hong Kong issues technical white paper on e-HKD

The Hong Kong Monetary Authority (HKMA) on Monday released a white paper proposing potential technical architecture and design for the infrastructure of a digital Hong Kong dollar. The paper is one of the deliverables described in Project e-HKD, a feasibility study the HKMA announced in June 2021. Fast facts Hong Kong began its exploration of […]

What are stablecoins, and why are some governments so afraid of them?

Stablecoins combine the portability of crypto with the price stability of fiat currencies. But are they all that stable?

How will China’s new dictates affect Hong Kong’s future as a crypto hub?

Mainland China’s recent clampdowns on crypto are reverberating beyond its borders. In a special Q&A, former regulator and crypto industry leader Angelina Kwan discusses what this means for Hong Kong.

Crypto on the beach: FTX and other players find paradise in the Caribbean

This week, FTX announced it is moving its headquarters from Hong Kong to the Bahamas, as the larger Caribbean region takes on a bigger role as host to virtual currency exchanges.

Why China’s latest stomp on crypto is turbo-charging DeFi growth

DeFi tokens like dYdX soared after China’s latest move to throttle crypto. Is this a short-term spurt or decentralized finance shifting into high gear?

How central banks are wielding blockchain in soft power competition

China’s crypto ban is part of a global battle over freedom and ideology, writes Michael B. Greenwald. How can the US lead the world in a different path?

The curious timing behind China’s thunder and lightning at crypto

China assaulted crypto with a new ferocity just as Bitcoin options expired and Evergrande escaped death. Coincidence? Ben Caselin of AAX lays out the clues.

China’s crypto ban: what you need to know

How is China’s latest clampdown on crypto different from its previous bans — and how do authorities plan to catch the scofflaws? Henri Arslanian of PwC breaks it down.

Digital yuan could come to overseas users to challenge dollar dominance: policy bank expert

China may be a small step closer to internationalizing the yuan, though its central bank says the e-CNY is now mostly tested for domestic use.
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How Southeast Asia flowered into a global crypto hub

Until recently, most Southeast Asians had no internet. Now the region is abloom with blockchain innovation. How did they do it?

UAE regulators to allow crypto-assets trading

The United Arab Emirates Securities and Commodities Authority (SCA) and Dubai World Trade Centre Authority (DWTCA) have signed an agreement to support crypto-assets trading and related financial activities in the DWTCA free zone. Fast facts The agreement allows the DWTCA to issue approvals and licenses for financial activities related to crypto assets and the SCA […]

Investors get ready, India crypto tax in the works

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 […]

Why decentralization can help solve the content moderation problem | Ep. 3

Why is content moderation a cosmically huge problem, do humans need to be involved and how can the decentralized web ensure it’s a place for everyone.

Crypto markets plunge as roof falls in on Evergrande

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?

India may not be ready to follow El Salvador’s lead, but don’t rule out cryptocurrency, finance minister says

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

Upbit becomes South Korea’s first newly registered crypto exchange

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

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

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

China’s blockchain infrastructure project goes live in Hong Kong, Macau

Blockchain-based Service Network (BSN) soft launch is the first attempt to roll out the state-backed ‘internet for blockchain’ outside of the Chinese mainland.

Searching for Asia’s ‘hidden treasures’ in NFTs and GameFi

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.

Mastercard acquires crypto investigation firm to boost security

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 […]

What does El Salvador’s new Bitcoin law mean for crypto markets?

El Salvador’s Bitcoin embrace may be a domino for some emerging markets, but a fierce rival to the BTC is also coming to the fore.

Why Algorand’s price is on a two-year high right now

Algorand’s ALGO cryptocurrency prices have surged by 90% over the past seven days, crossing the US$2 mark and hit a two-year high of US$2.44 today, according to CoinGecko data. ALGO, ranked the 17th largest cryptocurrency by market value, has not seen such price heights since its launch in 2019. Fast facts Algorand is an open-source, […]

What decentralization means for internet censorship | Ep. 2

What was internet censorship like in the early days, how has it changed, and what role does decentralization play.

What is the outlook for a US central bank digital currency?

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?

Imagining a global digital wallet and the future it can hold

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.

‘Crypto Dad’ Giancarlo steps down from BlockFi board

After only four months in the position, “Crypto Dad” Chris Giancarlo is stepping down from BlockFi’s board of directors, according to a recent press release. No reason for Giancarlo’s departure has yet been provided, though he apparently will continue to provide strategic counsel to the firm in an advisory role. Fast facts Ellen-Blair Chube, Managing […]

Singapore grants FOMO Pay the city-state’s first crypto license

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 […]

China’s state-backed blockchain network to expand to South Korea

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?

Nigeria partners with Bitt Inc. to launch its own cryptocurrency, the eNaira

Nigeria, a country with one of the world’s highest cryptocurrency adoption rates, is moving ahead with its plan for a central bank digital currency pilot project called Project Giant. The Central Bank of Nigeria has selected Bitt Inc., a Barbados-based fintech startup, as its technical partner for the project, which is scheduled to launch on […]

How Bitcoin and Ethereum are rekindling with equities

What is the relationship between crypto assets and stock prices? An analysis week’s market trends.

Former India central bank chief says cryptocurrencies have a ‘potential future’

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 […]

How regulators should consider the future of DeFi | Ep. 1

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

Thai SEC proposes new rules for digital asset custodians

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 […]

Futures exchange pays e-CNY for warehousing fees

Dalian Commodity Exchange paid storage fees to a delivery warehouse in the form of e-CNY, the first time applying central bank digital currency (CBDC) in futures trading. Fast facts According to the report, Dalian Liangyun Group, which received the e-CNY warehousing fees, said that e-CNY transfer has no inter-bank transfer fees, and it would not […]

USDC to be 100% backed by cash, US Treasuries

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 […]

Digital yuan trials now looking like a ‘soft launch’ stage

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

Survey predicts crypto will rival or replace fiat within 10 years

Cryptocurrency and other digital assets are expected to rival or displace fiat currencies within the next decade, according to Deloitte’s 2021 Global Blockchain Survey. Fast facts More than three quarters of the 1,280 executives and practitioners surveyed by Deloitte, the global consulting, tax services and auditing firm, think that digital assets “will serve as a […]

How stablecoins can help investors weather crypto storms

Notwithstanding Iron Finance’s collapse, stablecoins can play important roles for consumers and the economy, writes Julian Hosp of Cake DeFi.

Kakao to spearhead global expansion of Klaytn blockchain from Singapore

South Korean internet giant Kakao this week announced that its newly established non-profit entity headquartered in Singapore — the Klaytn Foundation — will lead the development and global expansion of the Klaytn blockchain, according to a company release. Fast facts The Klaytn Foundation, together with Krust, Kakao’s newly established global accelerator unit, and GroundX, which […]

Microsoft, Alibaba to build antipiracy system on Ethereum

U.S. software behemoth Microsoft is looking to develop anti-piracy measures on Ethereum using research from Chinese internet giant Alibaba and Carnegie Mellon University, according to a paper released by Microsoft’s research department. Fast facts Partnering with Alibaba and Carnegie Mellon, Microsoft says the new system — dubbed “Argus” — will run on a public blockchain […]

India gets Bitcoin rewards cards with backing from crypto-averse central bank

GoSats, an Indian Bitcoin rewards app, has launched a new cash back card that will allow Indians to earn up to 100% of their spending in Bitcoin and provide a chance to win one full Bitcoin on every spend, GoSats announced in a tweet. Fast facts The GoSats prepaid RuPay debit cards will be released […]

Why Silicon Valley is pouring big money into India’s crypto industry

While Delhi goes back and forth over a crypto ban, crypto’s huge growth potential in the world’s second most populous country is captivating American venture capital.

Poly Network recovers assets; Rario launches cricket NFT platform

Poly Network recovers assets meanwhile Rario launches cricket NFT platform

Chinese payment giant Alipay finds buyers for new NFTs

Alipay, one of China’s major payment apps, has again rolled out non-fungible token artworks designed as wallpapers for users’ payment code pages, with a total of 80,000 copies of two editions combined having sold out within a day. Fast facts Alipay yesterday started selling two editions of artworks — built on its own Ant Chain […]

Argentinian president tangos with Bitcoin despite central bank warning

Argentinian President Alberto Fernandez has indicated he is open to adopting Bitcoin as legal tender and a central bank digital currency, according to a media report yesterday, just two days after the head of the country’s central bank, Miguel Pesce, described cryptocurrencies as a threat to economic stability. Fast facts During an interview with media outlet Caja […]

Cambodian central bank, Maybank partner on cross-border digital currency transfers

Malaysia’s Maybank and the National Bank of Cambodia yesterday announced the launch of a real-time funds transfer service between Malaysia and Cambodia — the first international partnership between a bank and Cambodia’s Bakong digital payments system. Fast facts The service facilitates fund transfers via NBC’s Bakong e-wallet and Maybank’s MAE app. It allows Maybank customers […]

Accenture falls prey to ransomware attack

Accounting and consultancy giant Accenture has become the latest major victim of a ransomware attack. After Accenture initially reported that it had repelled a hacker group named Lockbit, encrypted files belonging to Accenture began to be published today, according to a report by Decrypt. Fast facts An Accenture spokesperson said in a statement: “Through our […]

USDC issuer Circle to become full-reserve digital currency bank

Amid a period of increasing regulatory interest in stablecoins, Circle, the digital payment company that issues USDC, the world’s second-largest stablecoin , has announced plans to become a full-reserve national digital currency bank in the U.S. Fast facts In a company blog post, CEO and co-founder Jeremy Allaire said the company was prepared to operate […]

Latest digital yuan trial launches with backing of JD.com, Bank of Communications

E-commerce company’s tie-up with government-owned lender suggests hybrid private-state future for central bank digital currency.

China’s central bank to accelerate digital yuan pilots for Winter Olympics

The Business Administration Department at China’s central bank has said it will push forward pilots of the e-CNY digital currency in the Winter Olympics area to cover all payment scenarios. Fast facts To promote the digital yuan for the Winter Games, two batches of e-CNY red packets were distributed in Beijing in February and June, totaling 50,000,000 yuan […]

Cambodian state digital currency sees strong uptake

Since its launch in October 2020, Cambodia’s central bank digital currency project, Bakong, has reached 5.9 million users across the country, according to a report by Nikkei Asia. Fast facts The figure includes users of member bank mobile apps, with the number of Bakong electronic wallet addresses doubling in June from three months before to […]

DBS Bank’s digital exchange assets surge 60% in Q2

DBS eyes bigger investor base as digital assets under custody top US$100 million.

Ethereum upgrade closely watched; India launches e-RUPI voucher

Ethereum upgrade closely watched also India launches e-RUPI voucher

Taxing times for crypto. Ethereum hard fork takes knife to fees. Tencent bets on NFTs.

Top blockchain and crypto news: Is Ethereum’s price flatlining on eve of revolution? Uncle Sam wants pay to play. China’s Big Tech toes the line with NFTs.

Blockchain applications that will change the world in the next 5 years

The next half decade will see mass adoption of decentralized technology, writes Max Kordek of Lisk. Here are the leading uses.

Will Facebook’s metaverse future transform how we live online?

Facebook CEO Mark Zuckerberg has a vision for metaverses — online worlds that one day will replace big parts of our offline lives. But some say that future is already here.

Chinese central bank shows no sign of softening stance on crypto

People’s Bank of China vows to keep sector under ‘heavy pressure’ as it pushes digital yuan.

IMF wants to be part of world’s transition to a digital economy

The International Monetary Fund says it has a mandate to help countries around the world adopt and adapt to digital currencies, but only if the digital money is in the public interest — which Bitcoin is not, according to an IMF report published yesterday. Fast facts While the IMF recognizes the potential benefits of digital […]

PayPal unveils plan to greatly expand crypto services

PayPal customers will soon have access to a greater range of crypto services through the global payment platform, CEO Dan Schulman said during PayPal’s Q2 2021 investor update call yesterday. Fast facts Describing the upgrade as “code complete,” Schulman said the wallet should be fully available for customers in the Unite States in the next […]

Battle for blockchain talent is heating up. What and where are the crypto jobs?

Flush with capital, blockchain and crypto firms are on a hiring spree. Here’s how the battle for crypto talent is playing out.

Philippine Digital Asset Exchange user numbers skyrocket

The Philippine Digital Asset Exchange, a cryptocurrency trading platform licensed by the central bank of the Philippines, now has more than 450,000 users, a 22.5-times increase from 2019, the bourse has told local media.  Fast facts PDAX Chief Executive Nichel Gaba said many Filipinos were crypto-curious, which explained why the number of traders on the […]

Facebook digital currency wallet Novi looks to add staff in Philippines

Facebook’s Novi, a digital wallet designed for its digital currency, Diem, is in hiring mode in the Philippines. Fast facts Facebook’s careers page currently shows five openings in the country for positions dedicated to Novi, including help operations investigator, onboarding coordinator and learning business partner. It has only one other opening in the entire Asia-Pacific […]

Chinese electricity bills to become payable using digital yuan

A digital yuan wallet app launched by China’s central bank will include an electricity bill payment feature designed by the country’s State Grid, according to Economic Information Daily, a local financial media outlet.  Fast facts Users will be able to pay their electricity bills through the digital yuan app directly and do not need to […]

India central bank plans digital Rupee rollout

India plans to implement the country’s digital currency in phases, Reserve Bank of India’s deputy governor Shri T Rabi Sankar said at a webinar organized by the Vidhi Centre for Legal Policy, New Delhi.  Fast facts “CBDC (central bank digital currency) will be in the arsenal of most if not all central banks in the […]

How Asia is leading the way for digital currencies

Despite growing global interest, CBDCs are not all at the same stage of development. Amit Ghosh of R3 explains how countries in Asia are paving the way.

Australian bourse warns of centralized exchange crypto custody risks

ASX, which operates Australia’s stock market, says the custody of cryptocurrency held on centralized exchanges presents a significant cybersecurity risk to investors, and recommends that regulatory action be taken to protect digital assets. It made the comments in a submission to the country’s Senate Select Committee on Australia as a Technology and Financial Center. Fast facts […]

Why Thailand’s oldest bank is investing US$110 million in DeFi

In a special Q&A, Mukaya ‘Tai’ Panich of SCB 10X, the venture arm of Siam Commercial Bank, marvels at decentralized finance innovations. ‘Whatever traditional finance has, there’s a parallel version in DeFi.’

FTX’s $900 million deal. Dogecoin in the doghouse. Digital yuan dragnet.

Top blockchain and crypto news: FTX swells to $18 billion valuation. Etherum and Dogecoin disowned by creators. US pols call for Olympics boycott of e-yuan.

U.S. senators ask athletes to boycott digital yuan at Beijing Winter Olympics

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.’