India to make life hell for crypto investors: MP
India needs to discourage people from investing in cryptocurrencies and digital assets, a senior MP from the ruling party told Forkast in an exclusive interview.
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UK to regulate stablecoins for payments in crypto hub push
The U.K. has released a detailed plan to regulate stablecoins as payments along with an intention to create a blockchain sandbox to mark Her Majesty’s entry into the “crypto hub” race. See related article: UK regulator may cancel Eqonex’s registration over Binance, Bifinity ties Fast facts The government plans to amend the Banking Act 2009…
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How Bitcoin could become the collateral layer for the digital asset economy
Bitcoin is now a reserve asset for Terra’s UST. What does this portend for the $186 billion stablecoins market?
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Why are stablecoins overwhelmingly backed by the US dollar?
Stablecoins are taking the world by storm and it’s the US dollar that outweighs any other fiat-backed cryptocurrency. What are the reasons for the greenback’s dominance?
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Calling a spade a spade holds Binance’s lesser known cofounder in good stead
As the world’s biggest cryptocurrency exchange battles the onslaught of regulators globally, cofounder Yi He is stepping out of the shadows to help steer the company.
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BNY Mellon to become custodian for USDC reserves
Circle has selected one of America’s oldest banks, BNY Mellon, as the primary custodian for the world’s second-largest stablecoin USDC’s reserves. See related article: USDC to be 100% backed by cash, US Treasuries Fast facts USDC issuer Circle chief Jeremy Allaire had claimed the stablecoin became 100% backed by cash and short-term treasury bills after…
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South Korean banks seek green light on crypto
The Korea Federation of Banks (KFB) may request South Korea’s incoming presidential administration to approve local banks servicing cryptocurrencies, according to a leaked draft report. See related article: South Korea’s largest financial group mulls crypto ETFs Fast facts KFB, the largest body representing domestic lenders, wrote in its report that banks should be permitted to…
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How women artists are bridging the NFT gender gap
Despite the promises of decentralized technology, women remain vastly underrepresented in the NFT art world. Forkast talks to artists working to change that.
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WeChat bans NFT accounts, citing ‘crypto speculation’
WeChat has blocked more than a dozen accounts belonging to non-fungible token (NFT) marketplaces from its social media platform, citing prevention of “crypto speculation.” See related article: China state-backed paper’s NFTs surge in price on second-hand market Fast facts When visited, the banned accounts of the NFT marketplaces displayed a message from WeChat: “No legal…