Metaverse ETFs in South Korea bring significant profits for investors
South Korean financial companies bring investors results a month after their metaverse exchange-traded funds were listed, with one fund gathering nearly $170M in net asset value.
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Biden signs new crypto reporting measures into law with infrastructure bill
While a significant legislative achievement for U.S. President Joe Biden, the US$1 trillion bipartisan infrastructure bill signed into law on Monday included provisions relating to cryptocurrency tax reporting requirements that has many in the industry nervous. Fast facts As Forkast.News previously reported, provisions were added to the bill as it was being drafted in August…
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China pledges to raid state-owned entities for crypto mining activities
China has yet again reiterated its determination to crack down on the cryptocurrency mining sector and revealed today that authorities will focus on state-owned entities engaging in virtual currency mining. Fast facts Wei Meng, a spokesperson of the National Development and Reform Commission (NDRC), the country’s top economic planner, said at a press briefing today…
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Circle contributes to $4.3M Series A funding round for yen-backed stablecoin
As Circle expands into Asia as part of a global expansion plan, what does the investment in a yen-back stablecoin mean for the market?
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China sees another digital yuan fraud case
Chinese police have busted yet another tele-fraud case related to e-CNY money laundering as the country continues to test the digital currency.
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India’s 1st parliamentary meeting on crypto ends with consensus on regulation — and no ban
While the government has yet to figure out the details, a crypto regulatory regime is expected to be released before February.
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Baby Sharks from most-viewed YouTube video released in NFTs
The maker of the catchy children’s song and dance video of Pinkfong Baby Shark is launching NFTs (non-fungible tokens) of its globally beloved characters with upgraded design and music. Fast facts SmartStudy, a South Korean educational entertainment company and the creator of the Pinkfong Baby Shark, announced a partnership with MakersPlace, a digital art marketplace.…
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UAE’s LuLu Exchange, Pakistan’s Bank Alfalah partner on cross-border payments
LuLu Exchange, a financial services company in the United Arab Emirates (UAE), and Pakistan’s Bank Alfalah are partnering to bring faster and more cost-effective cross-border payments and remittances from the UAE to Pakistan using RippleNet. Fast facts Bank Alfalah’s integration with RippleNet — Ripple’s global payments network for financial institutions — and its launch with…
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Earnings for Axie Infinity players drop below Philippines minimum wage
After shooting to prominence earlier in the year and bringing huge profits to early adopters, earnings for players of blockchain-based game Axie Infinity have dropped below the minimum wage line for most players in the Philippines, according to a recent report by research firm Naavik. Fast facts Using data sourced from the official website of…
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Bitcoin, Ethereum prices drop as crypto funds see record $9B in inflows this year
Cryptocurrency prices dropped again this morning Asia time, with Bitcoin and Ethereum trading 7% and 8% lower respectively in 24-hour trading, according to CoinGecko data. In the meanwhile, a new CoinShares report on institutional investing in cryptocurrency found record inflows year-to-date, suggesting that big investors overall are still bullish on crypto. Fast facts Bitcoin — the…