Terraform cofounder Daniel Shin to testify in South Korean parliament

South Korea’s National Assembly intends to get to the bottom of the Terra-LUNA debacle in its next audit in October along with several other issues surrounding the local crypto industry.

Tokenize plans acquisitions, fund raising to build exchange network

As the crypto slump drives job cuts and worse, some exchanges are seeing opportunity for expansion in the downturn, call it the fortune-favors-the-brave mantra.

Institutional finance, role of regulators in focus at TOKEN2049 crypto conference

The second Forkast report on Asia Crypto Week’s anchor event explores what bets TradFi players are making, how Asian investment patterns differ from those elsewhere, and what cooperation between crypto companies and regulators should look like

Scalability is Ethereum’s post-Merge focus: Vitalik Buterin

Vitalik Buterin identified Ethereum’s next big challenges as scalability and layer 2 implementations at the Converge22 conference.

South Korea’s investigation of Do Kwon ‘unfair’: Terraform Labs

Terraform Labs Pte. Ltd., the firm behind the collapse of the Terra-LUNA stablecoin project said South Korean prosecutors’ measures in pursuing its chief executive officer Do Kwon violate his basic rights under Korean law.

Australia gears up for state-backed digital currency trials

Top blockchain and crypto news: Digital dollar didgeridoos. Bitcoin softens as sterling sinks. ‘World’s dumbest’ crypto criminals nabbed in China.

Could reversible crypto transactions tackle hacker crime? Stanford study sparks debate

What if you could hit the undo button on an Ethereum blockchain transaction after discovering you’ve been scammed?

Cryptocurrencies much more than trading tools, says Caselin at AAX exchange 

Who will regulate the regulators is a time-honored question and one Bitcoin enthusiasts raise when talking about the benefits of the token’s fixed supply versus the tendency of central banks to switch the money spigots off and on.

Do Kwon denies cashout allegations

The man behind Terra-LUNA contradicts the basis of the new action South Korean authorities took to corner and locate him.

Crypto community pushes back following CFTC charges against Ooki DAO

The Commodity Futures Trading Commission faces criticism from cryptocurrency industry as opposition grows over “unprecedented” charges against the Ooki DAO.

China busts ‘world’s dumbest thieves’ in digital yuan money laundering case

Chinese authorities can track e-CNY wallet transaction history, if warranted, thanks to its ‘managed anonymity’ design.

Is crypto in a deep funk? Think again

Beyond the bear market, Web3 technology is shining bright in gaming and music, writes Hannes Graah of Gro. Are we at a tipping point for mass adoption?

Is the Philippines on track to becoming a blockchain hub?

The Philippines now ranks 2nd in the world for crypto adoption, but its path ahead is unclear, writes Emman Navalan. What are the hurdles it must overcome?

California governor vetoes bill requiring crypto-related businesses to obtain special license

A bill that proposed a regulatory and licensing framework for crypto companies was rejected by Gov. Gavin Newsom amid a broader national debate concerning the policing of digital assets.

Interpol issues red notice for Do Kwon, says South Korean prosecutor

South Korea is pursuing different options to get custody of Do Kwon as the Terraform Labs CEO faces charges for his alleged involvement in the multibillion collapse of the Terra-LUNA stablecoin project.

South Korea’s Busan city wants to be blockchain central. Did everyone get the memo?

The coastal city was a prominent manufacturer of footwear, fabric and other light industries during the 1970s and 80s, and then grew into one of the world’s biggest container ports. Now it’s trying to reinvent itself in the digital world of blockchain.

World Economic Forum launches coalition to use web3, blockchain for positive climate action

The World Economic Forum is launching a new Crypto Sustainability Coalition, consisting of 30 partners within the intersection of sustainable development and web3, crypto, and blockchain technologies, the international non-government organization (NGO) announced in a Webinar on Wednesday in New York, U.S.

U.S. Fed has growing interest in CBDCs, says Jeng at Crypto Council for Innovation

Linda Jeng, chief regulatory officer and general counsel at the Crypto Council for Innovation said the U.S. has seen the writing on the wall and is expanding the conversation about cryptocurrency, in comments at Forkast’s “Crypto Rising: CBDCs & Stablecoins: The Asia Perspective.”

Philippine central bank sees stablecoins as key to make payments more efficient

Bangko Sentral ng Pilipinas (BSP) Director Mhel Plabasan said the central bank has adopted a flexible approach on the digital assets.

‘Act smart, but act fast’: Industry experts say there’s no time to waste addressing stablecoins, CBDCs in Asia

Panelists at Forkast’s “Crypto Rising: CBDCs & Stablecoins: The Asia Perspective,” co-hosted by the Crypto Council for Innovation (CCI), said tackling the technology requires international cooperation and flexibility to not stifle innovation.

Binance stablecoin conversion controversial, but what does it mean for users?

Binance generated controversy when it told customers it would convert their holdings in three stablecoins to its own stablecoin. Some analysts say the concerns are overblown, others disagree.

Terra chief faces arrest as South Korea ramps up global manhunt

Top blockchain and crypto news: Where is Do Kwon hiding out? Ethereum Merge mood fading fast. China’s digital yuan draws scrutiny Down Under.

Binance’s crypto keys; What’s after the Merge?

Binance takes the headlines today as they lead the funding of blockchain security specialists Salus Security.

South Korea unlikely to push out crypto regulation before the U.S., authority says

South Korea’s top financial watchdog Monday said it is difficult for the country to establish laws overseeing the cryptocurrency industry in the country ahead of a common global regulatory framework as cross-border enforcement would be a key determinant of effectiveness.

Australia Senator says China’s CBDC may threaten national security

Amid the worsening relationship with China, one Australian Senator is trying to address possible national security concerns that may arise from Beijing’s Central Bank Digital Currency project.

Crypto research firm founder accused of promoting ICO for compensation

Self-described crypto influencer charged with violating SEC regulations by trading and promoting an initial coin offering under undisclosed financial terms.

If the UK wants to become a crypto hub, it must do better

Britain’s internal divisions could thwart its crypt ambitions, writes Nick Saponaro of Divi Labs. Will it be eclipsed by crypto-friendly Dubai?

SEC, Ripple seek summary judgment in attempt to speed up XRP lawsuit

The argument centers around if Ripple’s XRP sales were offerings of unregistered securities.

Why DeFi interest rate swaps may be the next frontier of finance

Already a big part of global finance, interest rate swaps can be a boon for DeFi — if it can overcome these challenges, writes Simon Jones of Voltz Labs.

FastForkast headlines

Two firms seek to weigh in on XRP lawsuit between SEC, Ripple

Celsius ex-CEO withdrew US$10 mln before freeze on client accounts: FT reports

Hacker has returned 70% of stolen US$23 mln in funds: Transit Swap

Coinbase says it resolved glitch that blocked trades from U.S. bank accounts

Binance sets up shop in New Zealand in global push

Binance launches ETHW mining pool, ETHW price surges

India financial crime unit cites ‘Chinese-controlled entities’ in alleged crypto fraud

Markets: XRP jumps amid court ruling against SEC, Bitcoin gains, Ether sole loser in crypto top 10

Markets: Bitcoin price remains above $19,000; BNB, XRP lead gains across top 10 crypto

Markets: Bitcoin, Ether rise; BNB leads gainers in top 10 crypto, followed by Solana

Kevin O’Leary to launch Web3 fund with backing from UAE; pushes back on Jamie Dimon

Markets: XRP biggest loser in top 10, Bitcoin slips under US$19,000, Ether slumps

Binance law enforcement training program to seek out ‘bad actors’

Russia said to consider digital ruble settlements with China

Bitdeer leads US$250 mln fund to acquire assets from distressed miners: report

Alex Mashinsky steps down as Celsius CEO

Japan plans new crypto transfer rules to combat money laundering

FTX to acquire assets of bankrupt Voyager Digital with US$1.422 billion bid

Upbit exchange to use LUNC fees to set up crypto monitoring center

China says it busted US$5.6B crypto money laundering ring

Markets: Bitcoin price falls below US$19,000, ETH down, XRP continues to rise

DBS offers self-directed trading for accredited investors

Coinbase gets nod from Dutch central bank to offer crypto services

UK bill allows law enforcement to ‘seize, freeze, recover’ crypto assets

Gansu Province warns no crypto mining within national data centers

Markets: Cryptocurrencies up amid Cardano’s Vasil hard fork, XRP leads gains

Binance taps ex-U.S. senator Max Baucus to chair global advisory board

Markets: XRP bounces back, Bitcoin stuck under US$19,000, Ether loses more ground post-Merge

South Korea seizes US$184 mln in crypto towards unpaid taxes

Bitmain cuts mining rig prices amid crypto bear market, energy costs

FTX in talks to raise US$1B in fundraising round: CNBC report

Bitcoin recovers from steep drop after Fed hikes rates by 75 basis points

Markets: XRP only gainer among top 10 cryptos as US rates decision looms

India’s finance minister sees 46% growth in blockchain technology use in next few years

Ripple objects to SEC’s relief suggestion in XRP lawsuit

JPMorgan Chase executive says crypto usage for payments decreasing

Binance and FTX lead bidding for bankrupt Voyager

Markets: Bitcoin price falls below US$19,000, XRP gains on SEC lawsuit developments, Ether post-Merge slide continues

Markets: Dogecoin reenters top 10 tokens by market cap, Bitcoin and Ethereum up

US Treasury seeks public opinion on digital asset risks

Binance leads funding round in blockchain specialist Salus Security

India’s WazirX to delist USDC, apply auto convert to Binance’s stablecoin

Markets: Cardano, Solana, Dogecoin and Polkadot bear brunt of market slump