Archives

NFTs accounts banned from WeChat due to “crypto speculation”. Meanwhile, Zilliqa on the rise after Metapolis announcement.

The International Monetary Fund (IMF) is voicing concerns over the adoption of cryptocurrencies in India, suggesting it poses significant risks to the country’s financial stability, local media report. See related article: Killing it softly or regulating to innovate? India at the crypto crossroads Fast facts Crypto assets pose significant risks, including to financial stability in […]

USDT, the world’s largest stablecoin, is now backed by much smaller cash reserves than before. XREX analyzes the risks.

Zilliqa is leading Thursday’s crypto market with an 80% charge over the last 24 hours, part of a 270% weekly pump since its metaverse-as-a-service platform Metapolis launch event was announced.

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.

Alibaba makes a $60M metaverse bet on AR glasses maker Nreal. Meanwhile, Axie’s Ronin blockchain gets hacked.

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

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.

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 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.

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

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 […]

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

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.

Australian crypto exchange BTC Markets has partnered with Mastercard to allow its customers to make direct debit, prepaid or credit card payments to purchase cryptocurrencies from the platform. See related article: Mastercard partners with Australian exchange for crypto card Fast facts The move is part of a broader trend by payments giants like Mastercard and […]

Binance US is on track for an initial public offering (IPO) in two to three years, with a “couple of hundred million dollars” in funding to be announced in April, Binance US CEO Brian Shroder said at the Binance Blockchain Week on Monday.  See related article: Binance US under probe for ties with trading affiliates: […]

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

Aided by crypto like Monero, ransomware crimes are on the rise globally, writes Srinivas Mukkamala of Ivanti. Android users are especially vulnerable.

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.

Bitcoin, the largest cryptocurrency by market capitalization, crossed US$47,000 on Monday Asia time after a sudden spike, the first time since early January.  See related story: Bitcoin wakes up to pass $40,000 before going back to sleep Fast facts Bitcoin has traded below US$45,000 since January, but broke out to trade at US$46,823 on Monday […]

Ukraine’s Ministry of Digital Transformation launched the Meta History Museum of War on Friday, a museum hosted on the Ethereum and Polygon networks that chronicles the country’s war with Russia through non-fungible tokens (NFTs). See related article: Zelenskyy legalizes cryptocurrency in Ukraine Fast facts “Disinformation is used by Russia on a par with deadly military […]

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 […]

Russia considers a bitcoin for oil proposal. Meanwhile, crypto markets make gains after weeks of volatility.

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.

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

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 […]

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 […]

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 […]

Russia State Duma deputy and Energy Committee chairman Pavel Zavalny proposed Bitcoin and national currencies as payment options for energy exports to “friendly countries,” such as Turkey and China, at a press conference on Thursday. See related article: EU says crypto included in sanctions against Russia and Belarus Fast facts Zavalny proposed gold and Russia’s […]

Chinese telecom ZTE registers metaverse-related trademarks. Meanwhile, Bollywood star gets chased over NFT taxes.

Cryptocurrency payments will be banned in Thailand starting April 1, the Securities and Exchange Commission (SEC) announced on Wednesday.  See related article: Thailand eases crypto tax burden until 2023 to promote industry Fast facts The SEC said price volatility, lack of customer safeguards, money laundering and cyber theft risks drove the decision to ban cryptocurrencies […]

BAYC is one of the hallmark NFT collections and a billion-dollar ecosystem. This Forkast explainer explores the cartoon primates and what makes them so special.

Global Sales Volume NFT sales amounted to US$18.5 billion in 2021—a 570-fold increase from 2020 as the record bid for Beeple’s digital collage and the strong reception for NBA Top Shot attracted new collectors and boosted prices, data from NFT industry data aggregator CryptoSlam showed. Companies from Gucci and Ray-Ban to McDonald’s and Coca Cola […]

Malaysia’s Fusang defers their IPO. Meanwhile, Blockchain Week Australia looks into intellectual property rights.

The world’s first NFT dates back to 2014, when New York artist Kevin McCoy’s animation known as Quantum was originally minted on Namecoin, a blockchain forked from Bitcoin. Quantum eventually sold for US$1.47 million at a Sotheby’s auction in June 2021, but its host blockchain is buried deep in the history of NFTs, rarely visited […]

Top blockchain and crypto news: Bitcoin buzz in Malaysia. Yuga Labs teases Otherside. Blockchain verdict in China.

Conflict in Ukraine takes a toll on Malaysian exchange’s $10 million IPO just a week before planned listing.

Opensea, an NFT marketplace on the Ethereum blockchain founded in 2017, currently dominates the NFT landscape with a market share of over 80% as of February 2022. OpenSea’s monthly trading volume on Ethereum soared to a new record high of US$5 billion in January 2022, surpassing its previous peak of US$3 billion reached in August […]

While blockchains and NFTs can theoretically eliminate plagiarism and fraud, there is as yet no clear distinction between NFTs that have been inspired by the designs of others and those that are simply copycats. Nike, for instance, has filed a lawsuit against StockX for selling NFT images of its shoes, while Hermès has sued an […]

The Sandbox metaverse is made up of 166,464 unique land NFTs, digital pieces of real estate, that players can own to publish their creations, monetize their games or rent to other creators. These lands will host a wide range of experiences, and their limited number makes The Sandbox seem like a virtual Manhattan when it […]

NFTs are increasingly being seen as an asset class that is distinct from cryptocurrencies, and this is reflected in the rising valuations and trading volumes in recent months. For instance, sales of Bored Ape Yacht Club tokens doubled from December 2021 to a record US$313 million in January 2022, according to CryptoSlam data. In contrast, […]

From the lookout: Unbeknownst to those outside the NFT space, there’s a mammoth blockchain game on the horizon. Even before the launch of Star Atlas, which promises cinema-quality graphics, investors are already pouring millions of dollars to purchase in-game NFT items. The unreleased game’s leaderboard shows a player with US$4 million worth of assets. This […]

NFT avatars are digital portraits, often illustrating animated or pixelated characters. Avatars are algorithmically generated to give each NFT unique identifiable traits, such as a particular hairstyle, mustache, glasses, or even laser eyes — a social trend Bitcoiners cite to support the cryptocurrency’s climb to US$100,000. In many instances, the ownership of these avatars represent […]

Asia looks set to become the next big market for NFTs, with some experts predicting the region may surpass the West as early as this year. Global Google search interest for the term “NFT” surged past “crypto” in January, with the search engine’s data showing growth originating in the East. Data from Taiwan, Japan and […]

Adding to its ambitious roster of sports sponsorships, Crypto.com will be the exclusive cryptocurrency trading platform backing the Qatar World Cup after bagging the deal for an undisclosed amount, the international soccer association announced on Wednesday, Asia time.  See related article: Crypto.com discloses details of US$34M hack Fast facts Singapore-based Crypto.com stands to gain massive […]

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.

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 […]

A Malaysian minister has proposed making Bitcoin a legal tender. Meanwhile in Hong Kong, an 11-year-old programmer makes his way into the NFT business.

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’

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 […]

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.

South Korea prepares for the imposition of FATF travel rule heat up. Meanwhile in Australia, reforms are set to be introduced for the crypto sector.

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 […]

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 […]

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 […]

As the conflict between Russia and Ukraine rages on and sanctions continue to mount, Russia-based bank Sberbank obtains a crypto license from the Central Bank of Russia. Meanwhile in China, social media platform Weibo allows its users to mint NFTs of their social media posts.

Cryptocurrencies have won credit for their role in Ukraine’s war, showing utility that will drive them beyond the battlefield, says Amber Group’s Michael Wu.

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 […]

Ukrainian President signs a digital assets bill into law. Meanwhile in China, Cannan plans to buy back shares.

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?

There is more to transitioning to renewable energy than one might expect, and in Australia, one Bitcoin mining company says the industry can play a role.

Chinese authorities cracked down on crypto related crimes on Consumer Rights Day. Meanwhile in Kazakhstan, the former President’s brother was busted for illegal crypto mining operations.

Top blockchain and crypto news: PoW spared as Europe revamps MiCA rules. Yuga Labs acquires CryptoPunks rights. China’s Mango TV makes NFT debut.

No more Burger King, Nike and Muji. This year’s annual focus on marketplace abuse names and shames crypto scams.

Bitcoin, the largest cryptocurrency by market capitalization, crossed the US$40,000-mark on Wednesday morning Asia time after a sudden surge before returning to its pre-surge price in less than two hours.  See related article: Bitcoin leads market-wide downturn as Russia fears rise Fast facts Bitcoin’s price has remained steady for the past five days, and its […]

Terraform Labs CEO and founder Do Kwon has accepted bets worth millions of dollars on Terra’s cryptocurrency LUNA trading higher than US$88 in a year’s time, which was the price of the token at the time of the bet. See related article: Is Terra — whose LUNA coin is now at another all-time high — […]

Former Kazakhstan president Nursultan Nazarbayev’s brother Bolat Nazarbayev was among 106 illegal cryptocurrency miners to halt operations in the government’s latest round of inspections, the Financial Monitoring Agency announced on Tuesday. See related article: Kazakhstan busts 13 illegal Bitcoin mining farms amid power concerns Fast facts See related article: Crypto mining’s Great Migration continues — […]

Amid Russia’s invasion of Ukraine, two divergent narratives about crypto are being told, writes Alex Tapscott. Which version is correct?

Ethereum software developer ConsenSys announced on Tuesday it has raised US$450 million in Series D funding, bringing its valuation to US$7 billion. See related article: New Cosmos, Mastercard projects to boost Ethereum scalability Fast facts The latest funding round was led by ParaFi Capital, with investors including Temasek, SoftBank Vision Fund 2 and Microsoft. The […]

Crypto exchange Binance has won a license to operate in Bahrain. Meanwhile in Southeast Asia, Singapore’s Monetary Authority has designated Russian banks amid growing sanctions.

Investors believe Bitcoin will stand its ground this year but in the altcoins world, some rising stars are brimming with potential.

The Monetary Authority of Singapore (MAS) has imposed financial measures targeting designated Russian banks, entities and activities in Russia, and fundraising activities benefiting the Russian government, in response to Russia’s invasion of Ukraine. See related article: Singapore prohibits crypto, NFT transactions in sanctions against Russia Fast facts An MAS notice named the designated banks as […]