Hong Kong makes apt testbed for e-CNY cross-border use
The city’s global reach, Hong Kong dollar and mainland ties make it a good fit for Chinese authorities to trial e-CNY international payments.
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Animoca Brands’ new Japan arm aims to connect fans in Web 3.0 world
Hong Kong-based blockchain unicorn Animoca Brands’ Japanese strategic subsidiary started operations on Tuesday to bridge the nation’s exclusive intellectual property (IP) with the Web 3.0 ecosystem. See related article: Animoca Brands valued at US$5B after latest fundraise Fast facts The subsidiary, Animoca Brands KK, is building a blockchain-powered platform for Japanese IP holders to launch…
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Indian media giant’s Fully Faltoo NFTs sell out in 48 hours
Indian media staple Viacom18’s Youth, Music and English Entertainment Cluster (YME) released 3,000 Fully Faltoo non-fungible tokens (NFTs) that sold out within 48 hours since launching, the company said in a press release on Wednesday. See related article: WazirX launches India’s first NFT marketplace Fast facts Fully Faltoo is a local award-winning sitcom program that…
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How DeFi’s user interface problems are deterring widespread adoption
DeFi can put investors at risk if they don’t understand how it works, writes Korapat Arunanondchai. Here’s how to improve user experience.
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Crypto assets, stablecoins pose risk to global financial stability: FSB
The rapidly growing crypto market could pose a threat to global financial stability, according to a Financial Stability Board (FSB) report published on Wednesday. Fast facts The FSB, an international body that monitors and makes recommendations about the global financial system, identified vulnerabilities related to unbacked assets such as Bitcoin, stablecoins such as USDT and…
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RBI is causing crypto hesitancy among Indian banks
India’s crypto tax plan was expected to bolster adoption, but the central bank’s hold on the banking sector puts a check on crypto-related services.
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Binance US under probe for ties with trading affiliates: report
The U.S. securities watchdog has launched a probe into crypto exchange Binance’s relationship with two trading firms with ties to founder Changpeng Zhao, the Wall Street Journal reported. Fast facts The Securities and Exchange Commission (SEC) is examining whether Binance’s U.S. arm properly discloses to users its links to two trading firms — Sigma Chain…
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Pakistani central bank echoes RBI’s concerns over crypto
State Bank of Pakistan (SBP) governor Reza Baqir said in this year’s MASIC Annual Investment Forum that cryptocurrency risks far outweigh their benefits and threaten financial and monetary stability for developing countries. Fast facts The SBP recommended a ban on cryptocurrencies last month, with one of the nation’s largest banks quickly heeding the advice by…