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China museum chief fences cultural relics from NFTs

China’s top government agency that oversees the development of museums has called on cultural institutions to hit the brakes when it comes to non-fungible tokens (NFTs).  See related article: China’s industry lobbies join NFT bashing chorus Fast facts The National Cultural Heritage Administration Tuesday held a nationwide online symposium in Beijing on digital collectibles and […]

How the metaverse is closing the gap between virtual and reality

The metaverse promises to radically change how we work, play and do business. How do we avoid its real-world security risks and pitfalls?

Crypto liquidity aggregator FLUID raises US$10 million

FLUID aims to disrupt the virtual asset market-making industry by lowering fees and latency. Fast facts Blockchain investors GSR, Ghaf Capital, and 21Shares led the round. FLUID aims to tackle a multi-trillion-dollar market problem of illiquidity in virtual assets. The firm wants to enhance liquidity across spot trading, derivatives, futures, synthetics, tokenized assets, and security […]

Bitcoin follows blue chips south amid market turmoil

Top blockchain and crypto news: Market contagion hits crypto. Ethereum developer pays price for bad Korea move. China whacks more crypto miners.

Coinbase snafu sets the cat among the crypto pigeons in India

Coinbase’s showcasing of support by government-backed National Payments Corporation of India (NPCI) set the ball rolling on the cryptocurrency exchange being yanked from the ubiquitous Unified Payments Interface (UPI).

DTCC unveils prototype to support Fed-issued digital dollar

The Depository Trust & Clearing Corporation (DTCC), one of the largest financial service providers in the U.S., unveiled “Project Lithium” to test infrastructure in support of a U.S. digital currency using blockchain technology.  See related article: 5 US digital dollar pilots launching to chase China’s CBDC lead Fast facts Project Lithium is based on blockchain […]

Former Ethereum developer Virgil Griffith gets 63 months in prison

Former Ethereum developer Virgil Griffith was sentenced to prison and fined US$100,000 for violating international sanctions against North Korea by speaking at a cryptocurrency conference in the Hermit Kingdom in April 2019. See related article: North Korea hacked US$400M of crypto in 2021, says Chainalysis Fast facts At the conference, Griffith explained blockchain technology’s use […]

SFC allows HK’s MaiCapital to manage 100% digital-assets portfolio

The development allows the city to emerge as a top destination for asset managers looking to launch cryptocurrency-themed funds for professional investors. See related article: More traditional investors are eyeing cryptocurrency to diversify their portfolios Fast facts The Securities and Futures Commission (SFC)-licensed blockchain and virtual assets manager can manage portfolios that may comprise up […]

Indian taxes hit trading; Bored Apes movie debut

India’s crypto tax continues to break the crypto industry’s back. Meanwhile, Bored Apes are set to have a movie debut.

Cryptos slump over inflation, Shanghai lockdown and war concerns

Bitcoin and Ethereum were down more than 5% each in Asian trading hours as cryptocurrency markets slumped in lockstep with traditional assets.

T Scientific to acquire 60% of S.Korean crypto exchange Hanbitco for $19.5 mln

South Korean mobile services company T Scientific announced Monday it will purchase a 60.36% stake in PlutusDS, the operator of local cryptocurrency exchange Hanbitco. See related article: South Korea crypto exchange underdogs: Where are they now? Fast facts T Scientific, a South Korean company specializing in the provision of mobile coupons and mobile commerce services, […]

China’s Xpeng joins the bandwagon in selling NFTs on Alibaba

Chinese electric vehicle maker Xpeng is selling “digital collectibles” as part of its marketing campaign to mark the 100,000th rollout of a complete vehicle. See related article: Lamborghini’s last all-gas Aventador to be auctioned with NFT Fast facts See related article: China’s Communist Party wants to regulate NFTs

How Southeast Asia’s NFT ecosystem lifts up local artists

Providing access to global customers and higher income, NFTs are changing lives in some of the poorest places in the world, writes Katherine Ng.

MobiKwik pulls crypto support; Twitter NFT hacker strikes again

In India, Mobikwik yanks crypto support. Meanwhile in the cyberspace, a Twitter hack promotes a fake NFT drop.

Why fears of a market bubble don’t apply to Bitcoin

Crypto market downturns can dredge up bad memories of ICOs. What lessons can investors learn from the past — and how is Bitcoin different?

China’s Sichuan province launches NFT marketplace

The cultural and tourism authority in Southwest China’s Sichuan province built a non-fungible token (NFT) trading platform to “encourage the music industry to actively adopt modern technology.” See related article: China’s Shandong TV to build NFT marketplace Fast facts The Sichuan government Thursday said a number of music companies are using blockchain technology to safeguard […]

Indian e-wallet provider MobiKwik yanks crypto support

Indian e-wallet service provider MobiKwik withdrew support for crypto exchanges from April 1, local media report.  See related article: Coinbase’s India launch hits road bump Fast facts MobiKwik’s withdrawal comes as the National Payments Corporation of India (NPCI) distanced itself from offering a payments gateway to Coinbase.  NPCI developed and operates India’s ubiquitous Unified Payments […]

Binance wins Abu Dhabi nod for another MENA outpost

The world’s largest crypto exchange received an in-principle approval from the Abu Dhabi Global Market (ADGM) to operate as a virtual assets broker-dealer, bolstering Binance’s presence in the Middle East. See related article: Binance wins crypto license in Dubai days after FTX Fast facts Binance will offer virtual asset investment and trading services across the […]

Does the NFT correction foreshadow a nascent comeback?

The market for non-fungible tokens soared, then slumped. That doesn’t worry Spores Network’s Duc Luu, who’s betting on brands to fuel its future growth.

Bitcoin ATMs face existential threat in Hong Kong

Authorities in Hong Kong moving to block retail investors from accessing non-derivative crypto products could undermine the presence of Bitcoin ATMs in the city with the most crypto ATMs in Asia.

Coinbase’s India launch hits road bump

The governing body overseeing India’s Unified Payments Interface (UPI) said it isn’t aware of any cryptocurrency exchange using the platform, hours after Coinbase said users could use the same to buy and trade cryptocurrencies.  See related article: SEC threatens to sue Coinbase over high-yield savings account Fast facts Nasdaq-listed Coinbase launched crypto trading services in […]

First S.Korean bank issues crypto accounts for corporations

Shinhan Bank became South Korea’s first domestic lender to trial real-name corporate accounts for cash-to-crypto transactions, paving the way for an institutional crypto boom in the peninsula. See related article: South Korean banks find workaround to cash in on crypto services Fast facts Local regulations permit only licensed and bank-partnered crypto exchanges to offer cash-to-crypto […]

SEC comes around on Bitcoin ETFs

Oversight by the American commodities regulator of the Bitcoin futures ETF by Teucrium helped with the SEC approval.

Why gamers dislike NFTs — and what might turn them around

Would gamers and developers still feel disdain for NFTs if companies used blockchain technology differently? Will Deane explores the possibilities.

US sanctions Russian darknet market; Indian MP’s crypto warning

South Korea’s Kakao Group acquires SEBC. Meanwhile in India, an MP reveals the government’s plans for the crypto industry,

Will London be Europe’s next crypto capital?

Top blockchain and cryptocurrency news: Britain’s crypto gamble. WAVES crashing. China’s big digital yuan push.

What is the metaverse and are we already living inside it?

The metaverse is envisioned as the next iteration of the internet, introducing an immersive digital universe. Find out what this means for the future of our online lives — beyond all the marketing hype — in this Forkast.News explainer.

Could CBDCs help banks make DeFi irrelevant?

Unregulated and fragmented, DeFi remains niche, writes John Mitchell of Episode Six. Here’s how programmable money can help banks do what decentralized finance is doing.

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Our virtual and in-person events bring people together to join conversations that matter. Previous Events Crypto Rising CBDCS & Stablecoins: The Asia Perspective We are in a history defining moment where money is evolving. It’s not easy to replicate cash, and central bankers around the world face unique challenges. The U.S. is softening up to […]

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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.

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 […]

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?

Crypto staking provider RockX raises $6M in Series A funding

RockX Tuesday said it raised US$6 million in series A funding, valuing the crypto staking platform serving institutional and high net worth investors at about US$30 million. Fast facts The funding was led by digital asset platform Amber Group and other crypto industry leaders including Matrixport, Primitive Ventures, FBG Capital, Draper Dragon, IMO Ventures, Alpha […]

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?

Is Singapore retreating from its global crypto hub ambitions?

Singapore’s approach may seem increasingly anti-crypto to some, but not to those tracking its policies closely. Danny Chong of Tranchess explains what’s going on.

DBS Bank slams brakes on retail crypto trading

Singapore’s largest lender won’t expand cryptocurrency trading on its exchange to retail investors any time soon due to “regulatory restrictions” in the island state. See related article: How Singapore is reimagining its ‘Asian crypto hub’ image Fast facts CEO Piyush Gupta said that regulatory agencies are “rightfully concerned” about holding back cryptocurrency trading for retail […]

New owner gives Pudgy Penguins NFTs happy feet

Prices of Pudgy Penguins non-fungible tokens (NFTs) collection recovered as the community got a new leader. They now trade at 2.85 ETH on marketplace OpenSea, and 2.98 ETH on LooksRare after hovering around 1 ETH for most of March. See related article: Why Asia is poised to be the next big market for an NFT […]

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.

How decentralization is making everyone their own CEO

The emancipatory promise of decentralization has been both evangelized and excoriated. The Algorand Foundation’s Jason Lee explains why we should be believers.

NFT buyers dip for a second straight month

In contrast to the rising crypto market, NFT sales have declined significantly in March, but one industry watcher says there’s no need to panic just yet.

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 […]

Crypto tax in India is now a reality 

India’s 30% flat levy on all capital gains made on cryptocurrencies kicked in on April 1 in a development likely to stifle the relatively nascent industry in the country. See related article: India’s crypto tax will incur losses for government, says WazirX CEO Fast facts Finance minister Nirmala Sitharaman has been facing investor backlash over […]

European Union to track all crypto transfers

European lawmakers have voted to introduce new legislation designed to stop illicit flows amid industry pushback claiming the measures will stifle innovation and infringe on privacy. See related article: EU votes against de facto Bitcoin mining ban Fast facts The proposal requires crypto service providers to collect information on senders and beneficiaries in all crypto […]

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.

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 […]

Can Ethereum’s proof-of-stake transition save the planet?

Ethereum’s transition to proof-of-stake promises to dramatically lower energy consumption, curbing greenhouse gas emissions that would require an annual offset by a forest roughly the size of Belgium.

Is Dubai the new crypto promised land?

Top blockchain and cryptocurrency news: Dubai’s crypto caravan. Mt. Gox unlocked. Digital yuan in play again.

Alibaba makes $60M metaverse bet on AR glasses firm Nreal

Augmented reality (AR) glasses maker Nreal raised US$60 million in its Series C+ led by Alibaba, which joins rival Chinese tech giants Tencent and ByteDance in a race into the metaverse.  See related article: Why the metaverse is a trillion dollar opportunity Fast facts See related article: Foxconn’s Taiwan subsidiary receives investment from Google for […]

Lessons learned from my five years of building blockchain

DLT projects are defined by their network effects, writes Donald Thibeau of HBAR Foundation. Here’s why open networks and community are critical for success.

Axie Infinity blockchain Ronin hacked for over $600M

Ethereum sidechain Ronin, where play-to-earn blockchain game Axie Infinity runs, has been hacked for over US$600 million in crypto, making it one of the biggest hacks in crypto history. See related article: Axie Infinity becomes first NFT series to break $4B in sales Fast facts Ronin said the hacker compromised four of their own validator […]

Binance wants to play ball with regulators

Binance is racing to anchor its sprawling global operations as regulators in China, where it was founded in 2017, go after firms for lax know-your-customer practices.

Terra’s US$10 billion Bitcoin Bet Sends LUNA to Record High

Terra’s LUNA, the eighth largest cryptocurrency by market capitalization, reached a new all-time high of US$106.14 on Tuesday early afternoon Asia time, following a US$135 million purchase of Bitcoin.

Gaming fintech firm enables Bitcoin tips for streamers

Gaming fintech ZEBEDEE launched ZBD Streamer on Tuesday, enabling content creators to collect Bitcoin tips while live streaming on online platforms including Twitch and YouTube.  See related article: PlayNFT plug-in to enable streamers to offer NFTs on Twitch Fast facts Viewers can send tips using a Bitcoin Lightning wallet, with an option to send custom […]

UAE becoming crypto hub; India’s tax bogeyman

The UAE is becoming the new crypto hub of the world. Meanwhile in India, high crypto taxes are scaring away young investors.

Xiamen reveals plan to bolster its metaverse, NFT-related firms

Xiamen has revealed its three-year action plan to nurture its cluster of metaverse firms involved in non-fungible tokens (NFTs), VR/AR, chips and related hardware with over 100 million yuan (US$15 million) in revenue, according to the local government’s working plan. See related article: ‘Metaverse’ enters government radar at China’s Two Sessions Fast facts See related […]

Crypto.com, Bybit book tickets to Dubai to set up UAE bases

Singapore-based cryptocurrency exchanges Crypto.com and Bybit have announced that they will be setting up offices in Dubai, as the industry continues its migration towards the United Arab Emirates (UAE).  See related article: As Binance shrinks away in Asia, will it put down roots in the Middle East? Fast facts See related article: Ripple launches first […]

Like it or not, blockchain and P2E will disrupt the traditional gaming space

Despite criticisms of play-to-earn games, blockchain innovations are here to stay and represent gaming’s future, writes William Wu of Catheon Gaming.

India’s tax bogeyman is scaring off young crypto investors

The country’s attempt to profit from digital asset gains puts off new investors to the asset class, even as existing ones redeploy funds into traditional assets.

Bitcoin ETF rejection could trigger Greyscale to sue the SEC

Greyscale Investments might sue the U.S. Securities and Exchange Commission (SEC) if its filing to convert its US$30 billion Bitcoin trust into an exchange-traded fund (ETF) is rejected, company CEO Michael Sonnenshein told Bloomberg. See related article: Bitcoin price hits all-time high after ProShares ETF debut Fast facts The SEC’s deadline to approve or reject […]

Ukraine’s NFT museum; Bitcoin on the up.

Ukraine launches its NFT Museum of War. Meanwhile, Bitcoin passes $47,000 mark.

ASX blockchain upgrade delayed for fourth time

The Australian Securities Exchange (ASX) has announced its highly anticipated AU$250 million (US$187 million) blockchain project has been delayed for release until late 2023 at the earliest. See related article: Australian Securities Exchange to launch crypto-related ETF Fast facts CHESS, or Clearing House Electronic Subregister System, was initially slated for a blockchain upgrade by April […]

Mt. Gox may return Bitcoin worth over $6 billion, Karpeles says

The Japanese trustee for Mt. Gox is likely to distribute the remaining trove of Bitcoins held by the defunct cryptocurrency exchange sooner than later, former CEO Mark Karpeles tells Jake Adelstein in an exclusive interview for Forkast.

China’s Greenland plans cross-border carbon credit trading with Singapore exchange

Chinese state-backed real estate giant Greenland Group has formed a partnership, through its financial arm, with Singapore-based digital securities exchange MetaVerse Green Exchange (MVGX), to offer cross-border digital carbon credits trading services. See related article: China eyes blockchain for carbon trading Fast facts The partnership will allow accredited, institutional investors to trade digital carbon credits […]

Killing it softly or regulating to innovate? India at the crypto crossroads

India’s crypto tax represents both a threat to the industry and an opportunity to create a regulatory framework to support it, says Polygon’s Jaynti Kanani.

Azuki spikes past Bored Apes in daily sales

Azuki, an anime-inspired NFT avatar collection, surged over 140% in the past 24 hours to top Friday’s sales volume chart, surpassing Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club, according to CryptoSlam data.  See related article: Azuki, CryptoPunks battle it out for week’s top NFT title Fast facts With its latest spike, Azuki’s […]

DeFi, NFT access at stake as FATF travel rule takes effect in South Korea

Flexibility allowed in new rule requiring crypto companies to comply with anti-money laundering guidelines leads to some confusion.

Bitcoin, crypto market on the rise along with global markets

Volatility has been the name of the game in the past few months, but experts tell Forkast that may be coming to an end.

Bitcoin legal tender status meets stop sign in Malaysia

Malaysia’s deputy finance minister Shahar Abdullah turned down a proposal to adopt Bitcoin as legal tender on Thursday, calling cryptocurrency unfit for payments.  See related article: Malaysia ministry: adopt crypto as legal tender to engage the young Fast facts Abdullah voiced concerns around cryptocurrencies’ price volatility and cyber security risks. Zahidi Zainul Abidin, the deputy […]

S.Korea tosses travel rule private wallet compliance to exchanges

South Korea’s financial watchdog has passed on the compliance of private cryptocurrency wallets to exchanges, as the Financial Action Task Force (FATF) travel rule went into effect on Friday. See related article: FATF updates regulatory guidance for crypto industry Fast facts “The travel rule only regulates transactions among individuals. There isn’t any rule pertaining to […]

EarnU taps Indian crypto sports enthusiasts

EarnU, a play-to-earn crypto sports and esports prediction platform, has forayed into India, to target betting Indians looking to earn crypto rewards for correct predictions.  See related article: How sports and crypto are knocking it out of the park Fast facts EarnU is a game that is free to play for BETU token holders.  While […]

China takes aim at corruption in underground Bitcoin mines

China’s anti-graft watchdog has warned that authorities are keeping a close eye on possible corruption behind underground cryptocurrency mining that persists even after the government banned the sector.  See related article: China ousts former official for supporting crypto mining, corruption Fast facts The Central Commission for Discipline Inspection (CCDI) of the Chinese Communist Party said […]