Hong Kong outlines stablecoin regulation plan to check financial stability risks
Stablecoins and CBDCs will likely co-exist in the city, experts say, as Hong Kong looks to thrive as crypto hub.
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Hackers demand 0.042 Bitcoin from Chinese supermarket
A computer database at a supermarket in eastern China is being held hostage by cybercriminals demanding 0.042 Bitcoin, which amounts to US$1,832, according to a Chinese media report. Fast facts
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S. Korean prosecutors seek life sentence for crypto execs in fraud case
Prosecutors in South Korea are demanding life sentences for seven former executives of a now-defunct cryptocurrency exchange who were charged with defrauding investors of just under US$1.9 billion. The executives are not yet convicted, and the trial judge will deliver a verdict on Feb. 11. Fast facts The executives of V Global allegedly took about…
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Kazakhstan crypto mining fortunes falter as regime unplugs internet
Top blockchain and crypto news: Bandwidth bust in Kazakhstan. Binance chief CZ tops rich list. Digital yuan app adoption grows.
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Indian government may double tax on crypto, report says
The Indian government is mulling the taxation of cryptocurrencies as business income, in a decision which could double the tax burden on investors, according to a local report. Fast facts Currently, crypto earnings are taxed as capital gains, which stand at 20%, while business income rates reach as high as 42%. Taxing each crypto transaction…
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Webtoon Solo Leveling NFTs sell out quickly after S.Korea launch
Non-fungible tokens (NFTs) based on a wildly popular fantasy action digital comics series backed by South Korean internet giant Kakao have sold out soon after launch on Wednesday. Fast facts The NFTs, launched by Kakao Entertainment, are based on webtoon Solo Leveling, which has amassed a whopping 14.2 billion views globally since its launch in…
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Telecoms giant China Unicom accepts digital yuan for phone bills
China’s No. 3 telecoms provider has started accepting payment for phone bills in digital yuan on its app, in the latest move by a major firm to advance the country’s fledgling central bank digital currency (CBDC) efforts. Fast facts Since earlier this week, China Unicom customers have had the option of using digital yuan, also…
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New NFT marketplace challenges OpenSea’s dominance
New non-fungible token (NFT) marketplace LooksRare has outsold market leader OpenSea just a day after launch, reaching US$275.5 million in sales volume in the past 24 hours. Fast facts This compares with almost US$120 million in sales volume for OpenSea over the same period, according to DappRadar. Like its main competitor, LooksRare, which launched on…
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NFTs may be the next killer app for video games, but some traditional players object
Developers adopt NFT technology to promote staple video game franchises, but reaction from a number of gamers has been negative.
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Arming up for a better fight against crypto-related crime
The current technologies in use do little to deter crypto money laundering, writes Dr. Mark van Staalduinen. What can nations do about this?