How DeFi can lift up the poor in emerging markets
Traditional banks are failing the nearly 2 billion people in the world without access to financial services, writes Khalid Howladar. But DeFi can be a lifeline.
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BSN, China Mobile support local NFTs with new chain launch
China’s state-backed Blockchain-based Service Network (BSN) has announced the addition of “Zhong Yi Chain,” developed by telecommunications giant China Mobile, to its open permissioned blockchain ecosystem to bolster the growth of home-grown non-fungible tokens (NFTs). See related article: BSN to integrate CasperLabs’ chain to support NFT issuance in China Fast facts The new chain serves…
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More courts in China accept blockchain-stored evidence
Sichuan and Inner Mongolia are two regions that recently announced their first cases using blockchain-stored evidence, local media reports. See related article: How blockchain technology is shaking up courtrooms in Asia Fast facts See related article: Court in China says trading in cryptocurrency ‘not protected by law’
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Malaysia ministry: adopt crypto as legal tender to engage the young
Malaysia’s deputy minister of its Communications and Multimedia Ministry told the parliament on Monday the country should consider adopting cryptocurrencies like Bitcoin as legal tender, local media The Star reported. See related article: Will El Salvador’s lead on Bitcoin inspire others to follow suit? Fast facts Zahidi Zainul Abidin, the deputy minister, said the communications…
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The Flippening: When will Ethereum overtake Bitcoin?
Ethereum’s market value passing up Bitcoin’s may not be a matter of if, but when. Dr. Kosrow Dehnad and Joe Duncan offer a predictive model.
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Australia may regulate DAOs under senator’s proposed act
Australian senator Andrew Bragg called for “urgent” regulation of decentralized autonomous organizations (DAOs) under the nation’s Corporations Act as part of his Digital Services Act proposal at Blockchain Week Australia on Monday. See related article: New crypto regulation — including tax reform — coming to Australia Fast facts DAOs can replace companies and are therefore…
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Taiwan’s MaiCoin crypto exchange mulls Nasdaq listing: report
MaiCoin, Taiwan’s largest cryptocurrency exchange, is considering a Nasdaq listing within two years, Bloomberg reported on Friday. See related article: Taiwan has a chance to develop crypto amid China’s clampdown, Filecoin Foundation director says Fast facts MaiCoin is also completing its Series C funding round which would value the company at US$400 million. MaiCoin expects…
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India may impose 28% GST on crypto transactions
The Indian government is working to determine whether cryptocurrencies can be classified as goods or services, which can impose a different taxation scheme on digital assets, local media reported. See related article: India’s crypto tax will incur losses for government, says WazirX CEO Fast facts Government officials believe crypto trading is similar to gambling and…
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Russia’s Sberbank obtains crypto license from central bank
The Central Bank of Russia has given the country’s largest bank, Sberbank, a license to issue and exchange digital assets only two months after the central bank had called for a full ban on cryptocurrency. See related article: Russia retreats from crypto ban as it pushes rules for industry Fast facts The move may allow…
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Indonesia’s crypto scene is booming. What are the risks?
Crypto’s growing popularity is also leading to more fraud and abuses, writes Ronald Molenaar of ADVANCE.AI. What can be done to better protect users?