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China’s PBOC wants to link e-CNY with Hong Kong’s Faster Payment System

Mu Changchun, director-general of the People’s Bank of China’s digital currency institute, said today the central bank is working with the Hong Kong Monetary Authority (HKMA) to test cross-border payment features for the e-CNY, China’s much anticipated central bank digital currency (CBDC). Fast facts Mu said at a webinar, jointly organized by the PBOC and […]
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OpenSea CFO dismisses IPO talk after community backlash

New OpenSea chief financial officer Brian Roberts has clarified that the company is not actively planning for an initial public offering, days after his comments riled the OpenSea NFT community. Fast facts In a tweet on Wednesday, Roberts wrote: “There was inaccurate reporting about @OpenSea’s plans. Let me set the record straight: there is a […]

S. Korean blockchain VC Hashed under tax investigation as CEO denies tax evasion

South Korea’s National Tax Service (NTS) recently launched an intensive tax investigation into blockchain and crypto venture capital firm Hashed, while its CEO denies any involvement in slush fund raising or tax evasion, according to local media reports. Fast facts Hashed confirmed that it had cooperated with the 4th Bureau of Investigation from the Seoul […]

Top crypto CEOs face House committee grappling with regulations

Stablecoins, US dollar primacy and energy consumption were among the topics in the questioning homing in on how to regulate the crypto industry.

Suzhou will set up China’s first blockchain pilot demonstration zone

Suzhou, a city located in Jiangsu province, will set up China’s first blockchain demonstration pilot zone, supported by the Ministry of Industry and Information Technology (MIIT), according to a local media report. Fast facts MIIT agreed to Jiangsu Province’s request for support to set up a pilot zone for blockchain in Suzhou and said it […]

Tencent Cloud wins bid to build massive blockchain platform in Beijing

The Beijing Municipal Government announced the bidding results for the city’s blockchain and computing power platform. Tencent Cloud and government-tied enterprise Beijing Microchip Sensing Technology won the bid and will be paid US$37 million to build the system. Fast facts According to the bid’s quotations, Tencent Cloud will provide the cloud service for the blockchain […]

Tough measures in India’s crypto bill; NFTs a hot Christmas gift

Tough measures in India’s crypto bill meanwhile, NFTs are becoming a hot Christmas gift

What is ENS (Ethereum Name Service) and how does it work?

ENS allows for a readable username that is portable across dApps and blockchains. Why is it important for the Web 3.0 world? Forkast.News explains.

Cut through the noise with curated stories, weekly

Get smarter with context and commentary on top blockchain and crypto trends in Asia. Email* SIGN UP Let me read older issues first What our readers say “Thank goodness for Forkast.News. Everyone at the Blockchain Research Institute reads it, and we encourage all of our clients to do so as well. It is hands-down the […]

Japanese crypto firms team up to form a metaverse association

Four of Japan’s virtual currency firms established the Japan Metaverse Association (JMA) yesterday with aims to promote metaverse technology and improve the framework for implementing user protection measures. Fast facts The Japan Metaverse Association aims to help the country become a forerunner in the race toward the metaverse by collecting and sharing essential information from […]
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OpenSea’s Wall Street waltz disappoints NFT devotees

OpenSea IPO plans in choppy waters. Crypto markets crumble. Bitcoin mining power struggles.

Gaming giant Ubisoft launches in-game NFTs on Tezos

Gaming giant Ubisoft is launching Ubisoft Quartz, a new platform for players to obtain what it calls “Digits” — essentially non-fungible tokens (NFTs) playable in a mainstream game — according to a company statement. Fast facts The first such NFT will appear in beta with Tom Clancy’s “Ghost Recon Breakpoint” on Ubisoft Connect for Windows […]

Australia announces biggest overhaul to payments in 25 years — eyes now set on crypto

As part of a broader attempt to address Australia’s payments industry, the government offers a roadmap to where crypto regulation can lead in 2022.

Iceland turns away new crypto miners amid power shortage: report

Iceland, which is suffering from a power shortage, is reducing electricity to some industrial clients and turning away new requests for power from cryptocurrency miners, reported Bloomberg, citing a statement from national power company Landsvirkjun. Fast facts The Nordic island nation is now reducing power supply for heavy consumers, including aluminum smelters, data centers and […]

Blockchain investigation firm TRM Labs raises $60M led by Tiger Global

Blockchain intelligence firm TRM Labs has raised US$60 million in a Series B funding round led by investment firm Tiger Global, the company announced on Tuesday. Fast facts Also participating in the financing round were American Express’ Amex Ventures, Visa, B Capital Group, Citi Ventures, DRW Venture Capital, Blockchain Capital, Jump Capital, Marshall Wace, Block […]

Meta says South Korea is top-tier environment for the metaverse

Meta’s South Korea representative says the country has one of the best environments for the metaverse business to thrive in, at its first press conference in Korea after rebranding from Facebook. Fast facts At Meta Korea’s VR (virtual reality) art media showcase, Jung Ki-hyun, the country director, said South Korea is accommodating to the metaverse […]

South Korean presidential candidate urges greater national leadership on digital assets

Lee Jae-myung, the ruling Democratic Party’s candidate for the 2022 South Korean presidential election, says cryptocurrency is already an integral part of the lives of Korean citizens and the country needs to be a leader in virtual assets. Fast facts At an invitational lecture at Seoul National University’s finance and economics seminar, Lee said that […]

How crypto ETFs can open doors for traditional finance to enter DeFi

Crypto ETFs make it easy to invest in digital assets without the complexities, writes Kevin Tai of Linear Finance. Imagine what a crypto index can do.

Bitcoin crash drags down South Korean NFT game stocks

South Korean game shares fell sharply, just a few weeks after announcements of new NFT metaverse ventures sent the shares up.

Nexo and Fidelity Digital Assets expand institutional lending services

Nexo, a globally regulated crypto-collateralized credit provider, has announced a partnership with Fidelity Digital Assets, an execution and custody services provider, to establish a platform to provide institutional access to digital assets with custodial and lending services, according to a news release shared with Forkast.News. Fast facts The partnership will allow Nexo to establish an […]

Crypto crash hits Korean game developers; Rug-pull red flags

Crypto crash hits Korean game developers, also how to spot Rug-pull’s red flags

Manny Pacquiao launches esports team in midst of presidential campaign

‘Team Pacquiao GG’ may be coming soon to League of Legends and Axie Infinity. But whatever happened to the former pro boxer’s Pac token?

Crypto exchange Coinhako secures investment from SBI, Sygnum, Azimut

Singapore-based cryptocurrency trading platform Coinhako has received backing from the SBI-Sygnum-Azimut Digital Asset Opportunity fund, with the fundraising round being three-times oversubscribed, according to a statement released today. Fast facts The fund is a venture capital fund co-managed by Japan’s SBI Group, Switzerland’s Sygnum Bank — which claims to be the world’s first digital asset […]

BIS: DeFi has few real-economy uses, says ‘decentralization is an illusion’

With suitable regulation in place, DeFi could yet play an important role in the financial system, BIS suggests.
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Japan may limit stablecoin issuers to banks, wire transfer companies

Japan’s Financial Services Agency (FSA) is planning a legislative proposal for the upcoming year to restrict the issuance rights of stablecoins to banks and wire transfer companies, according to a Nikkei Asia report. Fast facts The FSA’s decision to limit the issuance is meant to lower risks for stablecoin users, as FSA-authorized banks and wire […]

Kotak 1st major Indian bank to embrace crypto with WazirX partnership

Kotak Mahindra Bank, a leading private bank in India, has struck a partnership with crypto exchange WazirX, the Economic Times reported. Fast facts WazirX has opened an account with Kotak that can be used to pay and receive money from investors, according to the ET report. The account will be activated after the completion of […]

OpenSea’s 1st CFO wants to take company public, but some users are not happy

Brian Roberts, who recently resigned from ride-sharing firm Lyft, has become the first CFO of OpenSea and is charting a course for its initial public offering, according to a Bloomberg report. Fast facts Roberts, who previously worked at Microsoft and Walmart, is set to step down after a seven-year stint at Lyft. Roberts will, however, continue […]

Chinese video site Bilibili tests ‘UPowerchain’ to develop metaverse

Bilibili — one of China’s biggest video sites particularly known for its content dedicated for anime, comics and games fans — is testing its blockchain UPowerchain that could help the company build its metaverse business, as Chinese tech giants are sparing no efforts to enter the metaverse space. Fast facts Bilibili has confirmed with Forkast.News […]

Fidelity launches spot Bitcoin ETF in Canada

One of the world’s largest asset managers sought SEC approval of a spot Bitcoin ETF in March and is still awaiting a response.

Can Thailand emerge as a ‘crypto-positive’ travel destination?

Tourism officials want to attract more crypto-wealthy travelers to Thailand’s shimmering shores. But will the crypto faithful come if Thailand still has a ban on SHIB and Dogecoin?

South Korean regulator jumps to a crypto exchange

Experts expect more disruption as the crypto industry matures and a younger generation places different values on status and job security.

India releases ‘National Strategy on Blockchain’ for e-governance

The Indian ministry of electronics and information technology (MeitY) has released a 52-page “National Strategy on Blockchain” document that urges closer cooperation between government and the private sector to build blockchain infrastructure across the world’s second-most populous nation. Fast facts It is to be noted that the current NSB document is an updated version from […]

Navi files for India’s second blockchain fund

The fund will track companies that use and benefit from the technology underlying cryptocurrencies, but will not invest in crypto or crypto exchanges.

Self-proclaimed Satoshi to pay US$100M in damages

A jury cleared Craig Wright of all but one charge in a civil trial brought by the estate of his alleged former business partner, David Kleiman.

PBoC has established an e-CNY distributed ledger

But the head of the central bank’s digital currency research institute says issues remain such as technical standards for blockchain interconnectivity.

Binance, Animoca Brands launch $200M investment program to accelerate GameFi startups

Binance Smart Chain (BSC) has joined hands with Animoca Brands — a Hong Kong-based blockchain gaming, metaverse and non-fungible token (NFT) company — to launch a US$200 million investment program to accelerate and incubate early crypto gaming startups built on BSC, according to a company statement released Monday. Fast facts Specifically, the duo are co-investing up to US$100 million […]

South China’s Hainan province hikes electricity fees on those who have mined crypto

On top of China, authorities in Russia and Ukraine are busting underground miners, while U.S. Senator Elizabeth Warren presses a New York miner.
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Crypto hit in market sell off; Bitget reportedly suspended by MAS

Crypto hit in market sell off, also Bitget reportedly suspended by MAS

Bitget suspended over Army Coin, named after K-pop boy band BTS fanbase

Singapore-based crypto exchange had claimed the fan token would support BTS members — while the band’s agency denied any association with it.
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Binance chief CZ wants to bring business back to UK: report

Binance, the world’s largest cryptocurrency exchange by trading volume, is working to rebuild its operations in the U.K. after it was told to close down the business there back in June, the company’s CEO Changpeng Zhao, or CZ, told the newspaper the Sunday Telegraph. Fast facts CZ told the local press the company is making […]

Japan’s Elemental Knights Online game to release play-to-earn metaverse version

Japan’s mobile game Elemental Knights Online is planning to release Gensokishi Online -META WORLD-, which is its newest version incorporating elements of play-to-earn, user-generated NFTs (non-fungible tokens), and the metaverse. Fast facts Gensokishi Online’s “Meta World” metaverse will allow players to purchase land and freely edit in their creations, such as buildings and characters. The […]

Bored Ape Yacht Club artist exhibits new NFT collection at Art Basel Miami

The lead artist behind the breakthrough non-fungible token series “Bored Ape Yacht Club” (BAYC), known as All Seeing Seneca, has released a new set of NFTs over the weekend at Dfinity’s Iconoclast gallery event at Art Basel Miami, according to the artist’s Twitter profile. Fast facts With over US$1 billion in sales attributed to the […]

Global markets downturn hits crypto as well; BTC trading below $50K

For the second weekend in a row, markets were hit with a massive shock due to external factors. Market watchers weigh in on price movements and what to expect.

South Korean online game developer KRAFTON invests in metaverse

Signaling a growing interest in business opportunities in the interactive virtual world, KRAFTON, one of South Korea’s major game developers, quietly invested 5 billion Korean won (around US$4.2 million) in Naver Z back in July. Naver Z, under internet giant Naver, services the fast-growing Zepeto metaverse platform. Fast facts KRAFTON told local media that its […]

First NFT exchange-traded fund falls in NYSE debut

NFTZ opened for trading on the NYSE in the midst of turmoil and fears of inflation and Omicron.

SEC denies WisdomTree’s spot Bitcoin ETF

The SEC’s second rejection of a spot Bitcoin ETF again cited concerns about fraud and manipulation.

Yellen clarifies anti-money-laundering reporting rules for DeFi

In written responses to questions from Sen. Pat Toomey, Treasury Secretary Janet Yellen releases non-custodial service providers from strict reporting rules.

NFT privacy concerns; AussieMates raises mental health awareness

NFT privacy concerns meanwhile AussieMates raises mental health awareness

How blockchain tech can be the supply chain’s strongest link

Supply chain woes are deepening as seasonal consumer demand meets a logistics logjam. Dennis Delgado of SyncFab explains how blockchain can help. 

Indian crypto community sees silver lining after 1st week of parliamentary session

A cabinet note suggests the government intends to regulate cryptocurrencies as assets with the Securities and Exchange Board of India at the helm.

‘The Irishman’ producer Niels Juul hopes to make film fully funded by NFTs

Hollywood executive producer Niels Juul, who produced “The Irishman,” has founded a new startup called NFT Studios, in hopes of fully funding a film with non-fungible tokens (NFTs). Fast facts The startup’s first film, “A Wing and a Prayer,” will be based on the true story of Brian Milton, the first man to fly around […]

Japan’s Astar Network winner of 3rd Polkadot parachain auction

Astar Network won Polkadot’s third parachain slot auction today. Polkadot will launch Astar Network and four other parachains on its platform on Dec. 17. Fast facts “This is a huge step for the entire Astar ecosystem, since we have been developing the network for more than 2.5 years to become a Polkadot parachain,” said Sota […]

DeFi protocol BadgerDAO suffers $120M exploit

BadgerDAO, a decentralized autonomous organization (DAO) focused on bringing Bitcoin to decentralized finance (DeFi), is the latest to suffer an exploit that was estimated to result in losses of US$120 million. Fast facts Crypto security firm PeckShield said in a Thursday tweet the total loss has amounted to at least 2,100 BTC and 151 ETH. […]

New round of digital yuan coupons issued as Beijing Winter Olympics near

In Beijing, four state-run banks released a new batch of digital yuan (e-CNY) coupons on Thursday to promote its adoption rate in rehearsal for the upcoming Winter Olympics. This batch of coupons tests the e-CNY’s application in small-amount and high-frequency payment scenarios. Fast facts According to an announcement from Beijing financial authorities, coupon use cases […]

Japan’s central bank is urged to speed up its digital yen project

With economic security as a top priority, the Kishida administration anticipates the release of competing CBDCs.

The digital yuan’s de-dollarization

Why the Federal Reserve and other major central banks are likely to speed up development of retail CBDCs.

AussieMates NFT project launches for mental health awareness

Much of the world has been living under lockdown over the past few years, and collective mental health has been severely impacted. One Australian firm is looking to raise awareness and funds to address the issue with a new Down Under themed non-fungible token series, according to a press release shared with Forkast.News. Fast facts […]

South Korea’s Hashed raises $200 million for Web3

Distinguished names in South Korean industry have invested in Hashed Venture Fund II to promote the Web3 ecosystem.

What lies ahead for the creator economy in 2022?

A new normal forced by the pandemic is bringing out a wave of creators and influencers for a decentralized economy, writes Alex Shkor of DEIP. Here’s what to expect in the year to come.

Crypto resilient to Omicron: Japan speeds up on CBDC

Crypto resilient to Omicron meanwhile Japan speeds up on CBDC

Scottish whisky brand The Dalmore to offer limited-edition liquor NFT

The non-fungible token (NFT) frenzy has extended to the luxury wine and spirits industry. The Dalmore, best known for its Scottish whiskies, has partnered with BlockBar, an NFT platform for luxury liquor brands, to offer a limited-edition liquor NFT with a set of The Dalmore Decades No.4 Collection, the brand said in a Wednesday statement. […]

After Facebook’s name change to Meta, Square has now become Block

When Facebook and payments giant Square launched, they were trailblazers in the industry. Now, after Facebook, Square too has changed its name — to Block — in a bid to embrace the future of technology. Fast facts Square CEO Jack Dorsey and Facebook CEO Mark Zuckerberg have never gotten along. Dorsey has jibed at Zuckerberg […]

Korea Exchange CEO calls for institutionalization of crypto

Sohn Byung-doo, chief executive officer for Korea Exchange (KRX), urged South Korea to prepare an institutional infrastructure as virtual assets have become a major investment asset in the country. Fast facts In his speech at the 2021 Global ETP Conference, Sohn insisted that the “virtual asset market is no different from the capital market in […]

Chinese cybersecurity firm Qihoo 360 develops crypto mining tracking system to facilitate clampdown

Qihoo 360, a Chinese internet company best known for its antivirus software programs, has built a system that could help the Chinese government track cryptocurrency mining activities, as the country continues to crack down on the sector. Fast facts Qihoo 360 said in a Tuesday statement that it detected 109,000 active mining IP addresses on […]

Is Terra — whose LUNA coin is now at another all-time high — really where the smart money is?

LUNA is now the 12th largest crypto, and Terra’s platform has been called ‘Alipay on the blockchain.’ What are Terra’s investment risks? Forkast.News explains.

Binance crypto license plans in Singapore uncertain

Will crypto exchange Binance withdraw its license application in Singapore and look elsewhere in its search for a new global home?

Living ‘Eco-NFTs’ and holograms on display at Art Basel Miami Beach

The firm behind legendary sci-fi series Star Trek, Roddenberry Entertainment, has immortalized a key moment in entertainment history — in a way that may in time become an equally iconic moment in blockchain history. Gene Roddenberry’s signature on the first contract between himself and Lucille Ball’s Desilu Productions, which made Star Trek a reality, has […]

1inch Network closes $175M Series B funding round

After greatly expanding its goals for the round, decentralized exchange aggregator 1inch Network has closed a US$175 million Series B funding round from institutional investors, led by Amber Group, according to a company blog post. Fast facts Joining Amber Group were about 50 other investors including VanEck, Alameda Research, Celsius and Gemini Frontier Fund who […]

Crypto-ban fears may be an overreaction in India

A former finance secretary says too much is yet unknown about the new crypto bill for investors to expect the worst.

SEC chair Gensler calls stablecoins ‘poker chips’ again

Conversation between current and former SEC chairs at annual digital asset compliance summit focused on regulating crypto.

Kimchi Premium hits highest level since May

The Korea Premium Index for Bitcoin reached 7% last Sunday, which may indicate an influx of retail investors.

Shiba Inu and Luna on a tear; K-pop bets on digital assets

Shiba Inu and Luna on a tear, also K-pop bets on digital assets