Forkast.News is now Forkast Labs

Chinese blockchain behind financial SOEs to set up new HQ in Chongqing

Yunphant is set to build a second headquarters for its blockchain company in the southwestern Chinese city of Chongqing, according to a report by China News.

Bitcoin price dips but BTC dominance rises with US inflation fears

Bitcoin sheds 4% but BTC’s share of the total crypto market grows after US Fed projects higher inflation and plans interest hikes earlier than expected.

How Singapore and Cambodia see digital currencies for cross-border use

In a recent conference, central bankers from Cambodia and Singapore discuss how digital currencies are transforming existing payment systems for the better.

El Salvador feels confused over salary payments in Bitcoin

The El Salvadorean Department of Labor and Social Welfare has had to clarify it is not within its purview to determine whether salaries can be paid in Bitcoin.

Survival race of SK exchanges; Ethereum powers digital passports in HK | The Daily Forkast

50 crypto exchanges apply for ISMS in South Korea while Hong Kong sees the birth of a blockchain passport for Covid vaccinations.

Bitcoin bounces back. Criminals choose crypto. Chinese mining redoubt faces scrutiny.

Top blockchain and crypto news: Bitcoin finds fresh favor in Global South. Why would hackers demand a Bitcoin ransom? Chinese miners eye Yunnan probe.

The internet paradigm shift is here: Are you prepared for Web 3.0?

Permissionless, open source and decentralized, Web 3.0 will transform computing and data storage. Maria Paula Fernandez of Golem Network explains how.

Blockchain-powered air quality sensor test launches in Hong Kong

France-based PlanetWatch, which records air quality data on Algorand’s blockchain, has launched its first test sensor in Hong Kong.

China’s public Chang’An Chain gets upgrade to accelerate processing

Chinese homegrown public blockchain platform Chang’An Chain has been equipped with 96-core blockchain-specific chips, and 23 companies joined its ecosystem yesterday.

BitDAO raises US$230M with Peter Thiel, VCs to drive DeFi adoption

BitDAO — a new decentralized autonomous organization that aims to promote and propel the mass adoption of open finance and the decentralized tokenized economy — has announced the completion of a US$230 million private sale.

Diginex and crypto exchange EQUOS rebrand as EQONEX

Nasdaq-listed Diginex, a Singapore-based digital asset financial services company, today announced a rebranding of its businesses, including the EQUOS cryptocurrency exchange, as EQONEX.

India reviews cryptocurrency ‘ban’ legislation

The Indian government and leading industry stakeholders are reviewing elements of legislation that proposed a ban on cryptocurrencies.

R3 and ASEAN network partner on CBDC sandbox for banks and fintechs

The ASEAN Financial Innovation Network (AFIN) is partnering with enterprise software firm R3 on a central bank digital currency (CBDC) sandbox.

Coinbase Pro adds Shiba Inu, Chiliz and Keep, causing prices to spike

Coinbase will add Shiba Inu, Chiliz and Keep Network to its professional trading platform with full trading beginning at 9am PT if liquidity conditions are met.

Court denies SEC request for info on Ripple’s recent XRP transactions

A judge has denied the U.S. Securities and Exchange Commission’s request for documents related to Ripple’s XRP transactions and lobbying efforts that took place after the SEC filed its lawsuit last December, according to a new legal filing. Fast facts: “As discussed in the Court’s earlier Opinion and Order denying access to Ripple’s privileged communications, […]

Yunnan mining ban clarified; Korean exchanges start ‘coin thinning’ | The Daily Forkast

Chinese authorities provide more details on its notice issued to the local mining industry while South Korean exchange start ‘coin thinning’.

Chinese province of Yunnan puts crypto mining under the microscope

Following rumors of a possible ban on cryptocurrency mining in the province last week, its energy regulator has clarified an approach to the industry that looks set to rein in rogue operators.

ConsenSys, Hong Kong university launch Ethereum-powered Covid passport

The Chinese University of Hong Kong and Ethereum software company ConsenSys today announced the launch of a Covid-19 digital health passport.

Beyond the NFT hype: Why NFT technology is flawed and buyers must beware

What does it mean to own an NFT, and why are some NFTs vanishing? Alexander Hobbs of Zenotta explains the weaknesses in NFTs’ underlying technology.

Thailand tightens rules for crypto exchanges and bans meme, fan, NFT tokens

Thailand’s securities regulator has announced new rules for cryptocurrency exchanges in the country, including a ban on utility tokens and meme tokens.

Input Output Hong Kong announces launch of AlonzoBlue2.0 testnet

Input Output Hong Kong has announced on Twitter that it has launched AlonzoBlue2.0 to the Cardano testnet.

Ethereum sees record institutional outflows of US$12.7M

Ethereum saw its largest institutional outflows on record last week as outflows from Bitcoin eased, according to a report by CoinShares.

Bitcoin mining difficulty drops twice in a row to new 2021 low

On June 14, the difficulty of Bitcoin mining fell 5.3%, the first time this year that there have been two consecutive downward adjustments.

African P2P Bitcoin trading roars ahead of other regions

Africa has emerged as the region with the highest growth in P2P Bitcoin trading volume over the past six months.

Court gives Ripple execs go-ahead to obtain XRP info from 16 foreign exchanges

A judge overseeing discovery in the U.S. Securities and Exchanges Commission’s lawsuit against Ripple Labs has granted the SEC’s request to extend deadlines by 60 days as well as a request by co-defendants Ripple CEO Brad Garlinghouse and executive chairman Chris Larsen to obtain information from 16 cryptocurrency exchanges outside the United States. Fast facts: […]

Ant, Ping An, Tencent Cloud win top slots in Chinese blockchain ranking

Ant Group, Ping An Group and Tencent Cloud ranked as the top three among 50 leading Chinese industrial blockchain enterprises in 2020.

El Salvador’s BTC remittances in May quadruple from last year

Bitcoin transactions in El Salvador during May increased by more than four times compared to a year ago, yet fiat remittances still represent the vast majority of transactions in the country.

Yunnan warns miners over power use; WazirX faces gov’t heat | The Daily Forkast

China’s crypto mining crackdown continues while Indian finance authorities probe one of the nation’s largest exchange WazirX.

Hundreds of Bitcoin mining rigs seized in Malaysia police raids

Four people have been arrested and more than 400 Bitcoin mining machines seized by police in the Malaysian city of George Town.

Who’ll blink first in India’s crypto stand-off?

India’s central bank has clarified that cryptocurrencies are not illegal, but that does little to prevent lenders from refusing to provide crypto-related services.

What is yield farming in DeFi and how does it work?

One of DeFi’s hottest trends, yield farming can bring riches but is not for crypto beginners or those who can’t afford to lose. Forkast.News explains why.

As blockchain becomes widely used in banking, what are its security risks?

Blockchain provides greater data transparency and security than ever before, but the technology is not immune to cyber attacks and data breaches.

Huobi launches Blockchain Assets Center for token listings

Huobi Group has announced the launch of a Blockchain Assets Center to provide a standardized, streamlined process for projects seeking to list on its cryptocurrency exchange, Huobi Global.

SK govt assists crypto exchanges; Aus firm accepts crypto for rent | The Daily Forkast

South Korean government is holding on-site visits to help crypto exchanges get regulated while an Aussie business wants crypto for rent.

Plasm Network closes $10M fundraise to bolster Polkadot ambitions

With Kusama slot parachain auctions underway, the first starting next week, Plasm and Shiden networks prepare for a multi-chain future with Polkadot.

Indian crypto exchange WazirX in probe over US$382M in suspect transactions

India’s Enforcement Directorate has issued a show cause notice to cryptocurrency exchange WazirX for alleged foreign exchange violations involving 27.9 billion rupees (US$382 million).

How the layer 2 race is scaling Ethereum before ETH 2.0

While the world waits for Eth 2, blockchain developers like Enya.ai and OMG Network are trying to solve Ethereum’s scalability issues via layer 2.

Twitter chief says integration of BTC Lightning Network “a matter of time”

Twitter’s founder and CEO says the integration of Bitcoin layer-2 payments — the Lightning Network — into the social media platform may be on the horizon.

Some cryptos unfit for payment, says Chinese central bank ex-governor

A former governor of the People’s Bank of China said today that some cryptocurrencies have forfeited their opportunity to return to use as methods of payment.

Foreign crypto exchanges eye India despite regulatory uncertainty

Despite regulatory uncertainty over cryptocurrency trading in India, some of the world’s largest crypto exchanges are looking to enter the market.

Is Chinese province Yunnan banning cryptocurrency mining?

Yunnan is getting prepared to ban cryptocurrency mining activities, BTC.top, one of the country’s major mining pools, today told Forkast.News, citing a screenshot of a notice.

Bitmain rallies crypto miners to ponder options as industry eyes China exit

Chinese crypto mining rig maker Bitmain is reportedly set to meet with miners and industry participants next week to discuss relocating mining operations overseas.

Australian serviced office firm to accept rent in crypto

Australian serviced office firm Business Hub will accept cryptocurrency as payment for rent on serviced office space and other business services as of July 1.

IMF targets El Salvador’s Bitcoin adoption, citing financial and legal concerns

The International Monetary Fund (IMF) will meet with El Salvador’s President Nayib Bukele to finalize discussions around a pandemic relief loan to support the Central American nation. In a Thursday press briefing, IMF spokesman Garry Rice also implied that El Salvador’s decision to make Bitcoin a national currency will be a focus of the meeting for the IMF team.

Singapore’s GIC takes 8% stake in HK’s digital asset company BC Group

GIC, Singapore’s sovereign wealth fund, is investing in BC Group—the parent company of OSL, Hong Kong’s first licensed cryptocurrency exchange.

Cross-chain NFTs coming with Polkadot’s Unique Network and RMRK

Unique Network, an NFT chain for Polkadot, and NFT protocol RMRK announced today that they are partnering on expanding the functionalities of NFTs across blockchains.

Bitcoin hot in Singapore; China crypto mining bans widen | The Daily Forkast

El Salvador’s adoption of Bitcoin has the world buzzing. Can Singapore be next? China mining crackdown continues.

Hashrate drops as Chinese crypto mining ban extended to more provinces

Cryptocurrency mining prohibition in Xinjiang and Qinghai follows Inner Mongolia ban.
and

Jump Trading partners with Solana-based DeFi protocol Oxygen

Jump Trading, a high-frequency trading firm, is joining Oxygen, a decentralized finance prime brokerage protocol, as a strategic partner and market-maker to provide liquidity on the Oxygen platform.

Coinbase partners with 401(k) provider ForUsAll on crypto retirement plans

Retirement investment platform ForUsAll is partnering with Coinbase to expand access to cryptocurrencies through the U.S. 401(k) pension scheme.

Singapore central bank says blockchain can boost Asia’s low-carbon future

Ravi Menon, managing director of the Monetary Authority of Singapore, says technologies such as blockchain will help Asian nations to reduce carbon emissions.

Saudis lead $30M Series A for China nationwide blockchain network manager

Beijing-based Red Date Technology — the face of China’s ambitious nationwide blockchain service network — receives a big investment boost.

U.S. millennial crypto fans want to spend their coins like cash, study shows

Ninety-three percent of millennial current or former cryptocurrency holders in the U.S. would consider using their digital coins for everyday purchases, according to a recent survey.

Asian crypto exchange Kikitrade wins funds from UK billionaire Alan Howard

Kikitrade today announced a US$12 million fund raise with investment from British hedge fund billionaire Alan Howard to accelerate its growth.

China’s biggest crypto exchanges blocked from internet searches, social media

Huobi, OKEx and Binance have been blocked by the country’s most popular internet search engines and social media platforms.

Ripple: Delaying SEC lawsuit would pose ‘existential threat’ to XRP

In a new court filing, Ripple describes the damage the SEC lawsuit has already done to XRP and the payment company’s now-frozen US business.

Moonstake ties up with Uzbekistan exchange in blockchain push

Staking service provider Moonstake has partnered with UzNEX to provide blockchain consulting services in Southeast Asia and the Middle East.

Vitalik Buterin: Why Eth2 will propel Ethereum’s use in enterprise

In a talk this week, Vitalik Buterin explains Ethereum’s growing use in enterprise and the importance of building diverse, open-source communities.
and

China’s Xinjiang and Qinghai regions ban cryptocurrency mining

Xinjiang and Qinghai regions in China are now banning cryptocurrency mining, after Inner Mongolia tightened its crypto mining ban last month.

New York State passes bill restricting Bitcoin mining

A bill restricting the granting of crypto mining permits on environmental ground has passed the New York State Senate.

Hong Kong eyes CBDC; Aussie Millennials favor crypto vs. real estate | The Daily Forkast

Hong Kong looks to explore CBDC feasibility as Australian millennials favor investing in crypto over traditional assets.

El Salvador’s Bitcoin experiment. Ethereum’s steady rise. Free money in China.

Top blockchain and crypto news: El Salvador bets on Bitcoin as national currency. ETH gains ground on BTC. Beijing dishes out digital yuan in latest trials.

Cardano to roll out smart-contract tools in new product suite

Cardano is set to provide tools for developers, end users and businesses to execute smart contracts in financial agreements through a new suite of products.

El Salvador’s Bitcoin law wins vote, set to shake up BTC investments everywhere

Now that Salvadoran President Nayib Bukele’s Bitcoin-as-legal-tender bill is almost reality, what will it mean for BTC investors around the world?

Beijing Winter Olympics vendors begin to accept digital yuan

Shijingshan, a site for the upcoming Winter Olympics, has started supporting payments made using the state digital money, known as e-CNY.

Miami property deal breaks crypto real estate record

A Miami property has set a record for the highest price paid in cryptocurrency in a real estate transaction — US$22.5 million.

Chinese Bitcoin investors among most profitable globally

Bitcoin investors in China saw greater returns in 2020 than almost any other nation — second only to the US.

Australian crypto exchange Bitunivex plans to go green

Australian crypto exchange Bitunivex.com has announced plans to offset its carbon footprint by investing in green crypto initiatives.

UNICEF invests in blockchain startups for financial inclusion

UNICEF Venture Fund is awarding up to $100,000 to blockchain startups, including India’s GovBlocks, in its latest funding round. Here are the other projects.

Hong Kong eyes digital currency as part of new fintech plan

Hong Kong will be initiating a study on a digital Hong Kong dollar as part of its plans to “future proof” the city for central bank digital currencies.

India crypto feud continues; Korea mining thief busted | The Daily Forkast

Regulatory uncertainty pushes India’s crypto industry towards self regulation as a secret Ethereum miner gets busted in Seoul Arts Center.

KuCoin exchange in Ontario regulator’s sights after law breaches

The Ontario Securities Commission is set to take enforcement action against two companies behind the cryptocurrency exchange KuCoin for violating the province’s securities laws.