Hong Kong’s financial regulators released new guidelines on Friday that restrict retail investor access to financial products that invest directly in digital assets. Fast facts In a joint circular released by the Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC), the regulators placed sales restrictions on non-derivative products such as crypto…
Digital payments are commonplace in Asia, but gifting crypto as lucky money remains niche.
The Bank of Japan’s (BOJ) chief called on the U.S. and Europe to cooperate on creating a global technical standard for a central bank digital currency (CBDC), Reuters reported on Friday. Fast facts The central bank has not made a decision on the issuance of a CBDC, but has conducted experiments while deliberating on the…
South Korean game developer Netmarble announced its crypto and play-to-earn (P2E) strategies at a press conference on Thursday, including plans to issue its own cryptocurrency. Fast facts Netmarble CEO Kwon Young-sik said the company is preparing to issue and list a crypto token that would act as a key currency for Netmarble games. Netmarble has…
Hong Kong’s central bank digital currency (CBDC) project with three other central banks and the Bank of International Settlements (BIS) will enter its pilot stage this year to test international trade settlements, a Hong Kong government official said. Fast facts Christopher Hui, Hong Kong’s Secretary for Financial Services and the Treasury, said on Wednesday the…
OpenSea is the world’s largest open marketplace for NFTs. Find out what’s driving everyone there in this Forkast explainer.
The U.S. Securities and Exchange Commission is scrutinizing the cryptocurrency companies Celsius Network, Gemini Trust and Voyager Digital about their practice of paying interest on crypto token deposits, Bloomberg.com reported on Thursday. Fast facts The SEC has begun an enforcement review focused on whether these tokens are unregistered securities, the report states, citing unnamed sources…
CBDCs can increase financial inclusion and prevent crime, according to blockchain expert Tiana Laurence. What’s not to like about state-backed digital money?
With new products and services being launched and international exchanges setting up camp, crypto startups thrive despite the shadow of a crypto ban.