Forkast.News is now Forkast Labs

South Korea will require all public officials to disclose crypto holdings from 2024

South Korean lawmakers unanimously approved a new bill requiring public officials to disclose their crypto holdings to be implemented in December.

Hong Kong’s new crypto rules covered by China state TV in rare move from Beijing

Analysts say the move could signal a bull run in cryptocurrencies.

Bitcoin drops near US$26,000 amid U.S. debt uncertainties

All top 10 non-stablecoin cryptocurrencies fell, as investors assess macro sentiment.

Japan to implement anti-money laundering rules for crypto: report 

Japan will introduce strict anti-money laundering rules on cryptocurrency transactions from June 1, the Southeast Asian nation’s cabinet decided on Tuesday.

DAO communities – we need to talk about decentralization

Just how decentralized are today’s DAOs? When compared to the world’s largest transnational corporations, not so much, says Pat Rawson, co-founder of Web3 innovation network Curve Labs.

Bitcoin drops below US$27,000, Dogecoin biggest loser

Bitcoin dropped 2.33% to US$26,671. Ether lost 2.15% but traded above US$1,800.
and

China’s Nanjing city launches state-backed metaverse entity

China’s Nanjing City launched a state-backed organization on Monday to promote and enhance metaverse studies throughout the nation.

Only 4% of South Koreans use metaverses, survey reveals

Only 4.2% of South Korean citizens have said that they regularly use metaverse services, a recent survey results show.

Crypto’s aversion to anti-money laundering standards is only hurting itself

For crypto to grow for the long term, the industry must show greater respect for global standards that combat crime, writes Slava Demchuk of AMLBot.

Bitcoin, Ether rise; Dogecoin falls despite record high transaction volume

Top 10 non-stablecoin cryptos traded mixed, while investors continue to assess U.S. debt talks.

VeeCon: Rekindling the NFT Community’s Fire

VeeCon 2023 NFT conference inspires and strengthens the market with community focus and innovation. Gary Vaynerchuk’s keynote resonates with fans worldwide.

Hong Kong? Singapore? Tokyo? Seoul? Dubai? The race is on for the Web3 hub of Asia | Part 2

While U.S. regulators continue debating over whether cryptocurrencies are securities or commodities, the digital assets industry is being pleasantly welcomed by several Asian cities. And the competition is really hotting up now.

Bitget crypto exchange registers in Poland

Seychelles-headquartered cryptocurrency exchange Bitget announced on Tuesday that it successfully registered as a virtual asset service provider in Poland.

Hong Kong to open crypto to retail traders, plans guardrails

Hong Kong will allow licensed cryptocurrency trading platforms to offer services to retail investors and will implement a slew of measures to protect individual traders, the Securities and Futures Commission (SFC) said on Tuesday.

Governments could access Ledger wallet private keys, says CEO

Cryptocurrency wallet Ledger’s new update allows governments to access users’ seed phrases via subpoena, said Pascal Gauthier, the chief executive officer of Ledger. 

All top 10 cryptos rise; Hotbit crypto exchange shuts down; U.S. stock futures drop

Bitcoin gained 1.71% and Ether climbed 2.35%. Polygon gained the most in 24 hours followed by Tron.
and

Philippines regulator warns against Gemini Derivatives for unregistered securities

The Philippines Securities and Exchange Commission warned the public last week not to use crypto exchange Gemini’s derivatives platform.

How many of today’s AI darlings will end up in the dot-com and crypto sewage?

For every PayPal or Google, countless other startups from the bubble days of yore took investor money down the toilet, writes Naveen Agnihotri. What makes this AI boom any different?

Bitcoin, Ether, top 10 cryptos rise; US futures climb

The top 10 non-stablecoin cryptocurrencies, including Bitcoin and Ether, were up across the board as U.S. Fed rate talks and debt negotiation outcomes remain unpredictable.

Hong Kong? Singapore? Tokyo? Seoul? Dubai? The race is on for the Web3 hub of Asia | Part 1

As U.S. regulators file lawsuits against cryptocurrency platforms, prompting some digital asset companies to seek more favorable jurisdictions, a fleet of cities in Asia are putting out the welcome mat, seeking to attract the jobs and investment that Web3 technologies promise. Right now, Hong Kong seems to be grabbing the limelight, but it has competition.

Malaysian regulator orders Huobi crypto exchange to cease local operations

The Securities Commission Malaysia (SC), the capital markets regulator, has charged cryptocurrency exchange Huobi Global and its chief executive officer Leon Li for operating a digital asset exchange (DAX) without registration.

Bitcoin, top 10 cryptos fall except Tron; U.S. futures slightly up; Asian equities rise

Bitcoin traded below US$27,000 in Monday afternoon trade in Asia.
and

Are deposit tokens the new stablecoins — or a wolf in sheep’s clothing?

Stablecoins are a key part of the crypto ecosystem, but banks like JPMorgan are now exploring deposit tokens as an alternative. Which is better, and why?

S.Korean lawmakers propose public officials disclose crypto holdings

A South Korean ruling party lawmaker proposed all public officials and candidates disclose their crypto holdings in a new bill unveiled last Friday.

Circle: US regulation can help create the ‘most stable stablecoin’

Circle Vice President of Global Policy Corey Then says he is optimistic that U.S. regulatory developments can eventually benefit local players despite ongoing scrutiny.

Bitcoin, Ether fall; Tron trades higher; Investors digest G7, U.S. debt ceiling implications

Bitcoin fell below US$27,000 on Sunday, dipping further Monday morning in Asia as wider macro developments continue to weigh.

XRP lone gainer among top 10 cryptocurrencies

Bitcoin and Ether fell during afternoon trading in Asia, along all other top 10 non-stablecoin cryptocurrencies by market capitalization, excluding XRP.

Ripple joins Hong Kong CBDC pilot, partners with Fubon Bank

Ripple Labs has launched a new payment platform for a central bank digital currency in Hong Kong.

XRP gains; Lift-off for Space Pepe NFTs; US investor sentiment up on positive debt talks

Bitcoin and Ether prices fell on Friday morning in Asia. XRP gained after Hong Kong CBDC announcement by issuer Ripple.

How blockchain can shift electric car use into the fast lane

Electric vehicles remain rare in developing countries because of high costs and ‘range anxiety,’ writes George Cox of eTukTuk. Here’s how blockchain technology can remove those barriers.

Hong Kong’s e-HKD pilot puts the world on notice

Rollout of the central bank digital currency in Hong Kong is a potential game-changer and a move that others may soon look to follow.

Matic leads crypto rise despite Ledger security concerns

Cryptocurrencies rebounded on Thursday but wallet service provider Ledger’s latest update raised new security concerns.

Bitcoin mining difficulty rises to a new all-time high

Bitcoin’s mining difficulty level rose 3.22% on Thursday, hitting an all-time high, as the network’s hashrate also increased to a record high.

Conflux Network, China Telecom unveil blockchain-based SIM card

Conflux Network and China Telecom on Tuesday unveiled their first blockchain-based SIM card, which will be piloted in Hong Kong.

Bitcoin, Ether mixed; Polygon leads gainers; Equity futures flat as U.S. debt default worries recede

Bitcoin prices rose on Thursday morning in Asia. Ether edged down, while other top 10 non-stablecoin cryptocurrencies by market capitalization gained.

Bitget crypto exchange doubles down on expansion, to hire 300 more

Bitget is looking to hire 300 more people across operations, compliance, research and development, and customer support, the cryptocurrency exchange said.

Ordinals inscriptions slow down but Bitcoin congestion lingers

Ordinals inscriptions have slowed down this week but Bitcoin continues suffering from congestion issues due to the BRC-20 craze.

UK lawmakers propose cryptocurrency regulation as gambling

In a new report, U.K. lawmakers suggest treating Bitcoin and Ether like gambling due to significant consumer financial risks.

Bitcoin slips below US$27,000, XRP leads gains in top 10 cryptos

Bitcoin prices dropped below US$27,000 on Wednesday afternoon in Asia, while XRP gained the most after positive news for Ripple Labs on its lawsuit against U.S. Securities and Exchange Commission.
and

China’s top prosecuting body issues warnings, guidance about country’s NFT market

China’s top legal authority issued a commentary on Monday about the risks and potential in NFTs, highlighting the need for legislation.

Web3 needs to engage with local communities. Its future depends on it

Web3’s terrible user experience, scams and lack of diversity could be solved if its leaders take a cue from environmentalists and ‘act locally,’ writes Tim Williamson of NieuxCo.

XRP gains as SEC motion denied; NFT index down; US investors anticipate debt ceiling deal

Bitcoin prices fell on Wednesday morning in Asia but remained above the US$27,000 line. Ether gained but still posted a weekly drop. XRP led gainers among other top 10 non-stablecoin cryptocurrencies.

Bitcoin history shows first financial transaction was almost an NFT

Internet sleuths unearth the first financial transaction on Bitcoin, showcasing the potential of NFTs.

Bitcoin, Ether fall, Solana leads declines; U.S. stock futures trade flat; Asian equities mixed

Bitcoin fell 0.58% while Ether dropped 0.36%. Solana was the biggest loser of the day, dropping 1.67%.
and

EU’s MiCA gets unanimous nod from European Council

European Union finance ministers unanimously approved MiCA, a set of cryptocurrency rules aiming to reshape the digital asset industry across the EU bloc.

SEC in no rush to respond to Coinbase calls for regulatory clarity

As part of the ongoing legal dispute between the two, the U.S. Securities and Exchange Commission said it would not be hurried into a response to Coinbase demands.

How DeFi can keep out bad apples while upholding crypto’s core ideals

Crypto users need not fear the increasing KYC/AML requirements around the world and loss of privacy, writes Kurt Hemecker of the Mina Foundation. Here’s why.

Bitcoin, Ether gains; Litecoin continues bull run; optimism a solution to US debt crisis can be reached

Bitcoin prices rose along with Ether, while Litecoin continues to lead gainers among other top 10 non-stablecoin cryptocurrencies.

Bitcoin, Ether push higher, Litecoin biggest gainer in top 10 cryptos; U.S. stock futures, Asian equities gain

Bitcoin rose 2.07% to US$27,409 in 24 hours while Ether gained 1.27% to US$1,829. Litecoin was the biggest gainer of the day, rising 7.65%.
and

Head of U.S. DOJ crypto enforcement eyes crackdown on non-compliant crypto exchanges: FT

The U.S. Department of Justice is aiming to crack down on cryptocurrency exchanges that help criminals facilitate money laundering

Tokenization is changing the world, from finance to art

Fractionalizing assets on the blockchain opens up investment opportunities for the public and the capital market’s access to liquidity, writes Bob Ras. Here’s what’s holding it back.

China’s Fuzhou City offers cash, subsidies to attract blockchain companies, investment

China’s Fuzhou City on Friday unveiled a raft of policies to attract investment by blockchain-related companies, including rent subsidies and cash awards.

Binance exits Canada amid increased regulation in North America

Regulatory hurdles have once again hit Binance in North America, with the world’s largest cryptocurrency exchange announcing on Friday that it would cease operations in Canada due to tightened crypto rules.

Bitcoin, Ether edge higher; Litecoin leads gainers; investors weigh impact of US debt crisis

Bitcoin prices rose on Monday morning in Asia to above US$27,000. Ether managed to rise above the US$1,800 support level as Litecoin leads gainers.

 It’s a fight for the future of money in the US, says Christopher Giancarlo

The U.S. is resisting digitization of the dollar due to it being a threat to the country’s dominance over traditional financial system, said Christopher Giancarlo, former chair of the Commodity Futures Trading Commission (CFTC) and author of “Crypto Dad: Fight for the Future of Money.”

Looking to expand Web3 activities into Japan? Watch the biggest firms for clues, says gaming protocol founder.

While the community might be small, there’s a growing buzz around Web3 in Japan, with overseas companies now taking note. For clues on how to make it big in the land of the rising sun, follow the lead of the nation’s largest firms, says Sebastien Guillemot, co-founder of Paima Studios.

Elon Musk’s NFT rocket launch. What has he done to Milady?

NFTs were ready for takeoff this week and Elon Musk’s tweet blasted it off.

Weekly Market Wrap: Bitcoin dips to US$26,166 as memecoins flood the blockchain

Bitcoin briefly fell to US$26,166 this week, as BRC-20 memecoins flooded the blockchain, raising network congestion issues. Market analysts told Forkast that a weekly close under US$26,111 signals more bearish momentum

Bitcoin, Ether fall along with most top 10 cryptos; U.S. futures rise ahead of debt ceiling negotiations

Bitcoin and Ether fell during Friday afternoon trading in Asia, along with most of the top 10 non-stablecoin cryptocurrencies by market capitalization, apart from the XRP token.
and

Binance.US may reduce founder Changpeng Zhao’s ownership stake: The Information

Binance.US is reportedly exploring ways to cut founder Changpeng Zhao’s ownership stake in the company, The Information reported on Thursday, citing two sources familiar with the matter.

Japan government’s crypto czar touts nation’s Web3 capabilities

Japan was an early believer in blockchain and cryptocurrencies until exchange hacks brought a crackdown. But that was then. Now the government has become a crypto cheerleader.

Bitcoin, Ether fall to month lows; Polygon leads losers; U.S. equity futures up as inflation cools

Bitcoin prices slid under US$27,000 on Friday morning in Asia. Ether fell below support at US$1,800 as all top 10 non-stablecoin tokens retreated.

Animoca Brands says it holds US$3.4 bln in assets

Animoca Brands revealed US$2.7 billion in off-balance sheet token reserves in its latest unaudited financial update.

Bitcoin network buckles under weight of BRC-20’s runaway success

Top blockchain and crypto news: Memecoin fever strains BTC network. Binance slams brakes on Bitcoin withdrawals. Chinese court allows crypto for repaying debt.

Bitcoin congestion issues continue amid BRC-20 memecoin, Ordinals surge

Bitcoin network faces heightened congestion with over 5 million inscriptions, exacerbating block space demand as BRC-20 tokens achieve a market cap milestone of $1 billion, contributing to increased activity on the network.

Bitcoin, Ether fall along with most cryptos; U.S. futures strengthen as inflation in April slowed

Bitcoin and Ether fell during Thursday afternoon trading in Asia, along with most of the top 10 non-stablecoin cryptocurrencies by market capitalization, with Polygon’s Matic leading losses for a second consecutive session.

Japan looks to regain its place in the cryptocurrency world pecking order

The three-day NexTech Week trade show kicked off Wednesday in Tokyo, celebrating all things technology, including blockchain and Artificial Intelligence.

China’s national blockchain research center aims to train 500,000 blockchain professionals

China’s national blockchain research center was launched in Beijing on Wednesday and plans to train over 500,000 blockchain professionals for the country.

South Korea sets May 26 trial date for Terraform Labs co-founder Daniel Shin, others

Terraform Labs co-founder Shin Hyun-seung and seven others will face trial on May 26 on charges of fraud related to the Terra-Luna crypto collapse.

Bitcoin drops on liquidity concerns, Ether dips; Polkadot leads winners; U.S. equity futures gain

Bitcoin fell on Thursday morning in Asia to trade around the US$27,500 mark. Ether led the losers in the top 10 non-stablecoin cryptocurrencies.

How ChatGPT is propelling memecoins to a new stratosphere

Thanks to generative AI, a struggling artist with no coding skills created tokens now worth $70 million. What does this mean for the rest of the crypto world?

Ernst & Young launches blockchain to track carbon credits and emissions

EY OpsChain ESG enables companies to better understand their carbon footprint by tracking carbon credits through tokenization.