Taiwan to introduce new AML rules for crypto exchanges on July 1
Taiwan is set to enact new anti-money laundering rules that take effect July 1 to further boost AML requirements for crypto exchanges.
Mining rig maker Bitmain inks purchase deal with TeraWulf
Bitmain has signed a deal to sell 30,000 of its Antminer machines to TeraWulf, a U.S. crypto miner that claims to use mostly clean energy.
Institutional investors appear to cool on Bitcoin, data suggest
Institutional demand for cryptocurrency appears to be slowing, according to a report by analytics company Glassnode.
South Korean crypto exchange Bithumb dismisses ‘listing fee’ claims
Bithumb — South Korea’s second-largest crypto exchange — has rubbished claims that it is charging token issuers fees to list their coins on its platform.
Crypto exchange Coinbase to launch crypto app store in international strategy
Nasdaq-listed Coinbase, the largest cryptocurrency exchange in the United States, announced today its plans to expand its business internationally as it seeks to improve its asset-listing process and build a crypto app store. Fast facts: “We’re seeing crypto quickly mature from its initial use case of trading bitcoin to the trading of thousands of new […]
What is Theta blockchain, and how might it revolutionize online streaming?
With Theta’s new mainnet 3.0, the network aims to be the go-to blockchain-powered content delivery platform for online streaming. Will Theta succeed?
Special Series, Part 3: Digital dragons and digital dollars
In the last installment of a 3-part series on blockchain in Asia, Forkast.News examines: Everyone knows money has value. But does it also have ‘values’?
A portfolio balanced by digital assets
Do cryptocurrencies follow broader market trends? Cryptocurrency has long been perceived as a hedge against the fluctuations of the broader equities market. The idea of cryptocurrency as an alternative investment has taken off during the Covid-19 pandemic as equity prices rose to stratospheric highs despite the fundamentals of the economy significantly weakening. An example that […]
Evangelizing to different investor profiles
Millennials and Gen Z Millennials have earned the reputation of disrupting or killing traditional industries, and the financial sector is no exception. The disconnect between millennials and traditional investments is the result of various factors, such as their firsthand experience with the long-term effects of the 2008 global recession on assets and investments, as well […]
Tokenized asset market sizing and analysis
How value is created Our methodology for calculating the value of this market includes tokenized commodity, energy, currency (i.e., stablecoins), gold and real estate projects. Calculations include publicly listed projects found via Blockexplorers. It excludes cryptocurrency, as it’s a native digital asset, as well as DeFi projects because of their extreme volatility. All tokenized assets […]
NFL star Tom Brady, supermodel Gisele Bündchen take stakes in FTX crypto exchange
Cryptocurrency exchange FTX today announced that American football star Tom Brady and his wife, Gisele Bündchen, are taking equity stakes in it, in a multi-year partnership.
Although institutional interest in Bitcoin is rising, there is still the volatility conundrum to consider. Bitcoin’s market fluctuations, however, make it a poor store of value. But, at the same time, there is an advantage to keeping capital stored in crypto: cashing out crypto into fiat is almost always a taxable event and not ideal […]
Metaverse hot in South Korea; Decentralized theme park hits HK | The Daily Forkast
South Korea’s top asset managers are racing to get into the metaverse game while Forkast.News visits a decentralized theme park in Hong Kong.
What kind of new regulation can help Australia become a global crypto hub?
Through tomorrow, a Senate committee is taking public comments on how best to make Australia into a global crypto leader and fintech hub.
Hong Kong’s Securities and Futures Commission’s new crypto rules will hinder opportunity
Hong Kong’s Securities and Futures Commission chief, Ashley Alder, kicked off a firestorm during Hong Kong FinTech Week 2020 by announcing a plan to regulate all cryptocurrency exchanges that operate in the city or target its citizens. These new proposed rules would replace a voluntary framework introduced in 2019 that allowed exchanges to opt in […]
Gold loses shine for India’s crypto-curious young investors
Crypto investment in India has grown from about US$200 million to nearly US$40 billion in the past year, driven in large measure by demand among young investors.
Singapore crypto exchange Coinhako sees trade soar 500%, eyes IPO
Singapore cryptocurrency exchange Coinhako today announced a 500% increase in trading volume during the first five months of 2021 compared to the whole of 2020.
Huobi bans users in China, Taiwan from crypto derivatives trades
Chinese cryptocurrency exchange Huobi has stopped providing crypto derivative trading services to users in China and Taiwan.
Why big investors are pouring money into blockchain data analytics for crypto
Nansen, a Singapore startup, is the latest darling of venture capitalists like Andreessen Horowitz (a16z) bullish on the growing field of crypto analytics.
Custodians: looking after your assets
The need for custody Who holds the keys? Who looks after the digital assets? The person with control has custody. For an exchange, that custodian should be a third party for better risk management, more robust security and improved accountability. There is no shortage of examples of the inherent problems that can arise when exchange […]
Growth of digital assets markets and exchanges
Interview with Thor Chan, CEO of AAX Forkast.News: The value of digital assets has exploded during the last year, and we are now at levels well above previous forecasts. What are you seeing in the market right now? Thor Chan: We think that the global crypto market is growing. More money is flowing in, and […]
Digital asset exchange infrastructure geared for high-volume trading
Managing trading volume and geography The importance of having the right infrastructure to drive an exchange – any exchange, not just ones for digital assets – cannot be overstated. It provides the engine that lies behind every software platform. Investors need to know they can execute trades without outages or other interruption. As well, they […]
This report is about the development of digital assets, cryptocurrencies and tokenization and how that all-important confidence is established. Thank you for your interest in digital assets and the role of digital asset exchanges, custodians and the value digital assets offer to investors looking to diversify. For any currency, digital or otherwise, confidence in the […]
Special Series, Part 2: China lays digital groundwork for a new Silk Road
How China’s deployment of the digital yuan intertwines economics with geopolitics and concrete with virtual infrastructure, from Cambodia to the Caribbean.
Executive Summary The crypto market of 2020 is not the crypto market of 2013. What was once a cryptocurrency market is now a digital asset market. Blockchain’s strengths in efficiently and transparently tracking assets have given birth to an industry of assets represented by tokens, allowing both a new class of investors to have exposure […]
The Unstoppable Rise of Digital Assets
Table of contents Foreword For any currency, confidence is essential. This report is about the development of digital assets, cryptocurrencies and tokenization and how that all-important confidence is established. by Angie Lau, Forkast Editor-in-Chief Executive summary and introduction The crypto market of 2020 is not the crypto market of 2013. What was once a cryptocurrency […]
China’s crypto miners eye Kazakhstan in exodus; e-HKD study on track | The Daily Forkast
Kazakhstan is quickly becoming a mining hotspot as China’s mining exodus settles down. In Hong Kong, and update on the e-HKD.
Britain bans Binance UK, but users continue business on crypto exchange
FCA says Binance is not permitted to offer regulated activities in the UK, but users of the world’s largest crypto exchange remain unaffected — for now.
FATF: Most countries have yet to implement anti-terrorism crypto ‘travel rule’
Why are so few adopting FATF guidance for VASPs? Money laundering watchdog decries ‘continued misuse of virtual assets through jurisdictional arbitrage.’
South Korean crypto exchange fee revelations deal blow to sector’s credibility
Payment for listings raises questions over integrity of cryptocurrencies’ credit scores as compliance deadline nears.
Kazakhstan’s Bitcoin gold rush gathers pace as Chinese miners keep piling in
As China shuts down crypto mining over environmental concerns, miners are moving next door to Kazakhstan, one of the most coal-rich countries in the world.
Shiba Inu price jumps 25% after Elon Musk throws new Twitter bone on dog
Elon Musk set off a new SHIB price rally after tweeting that he would name his Shiba Inu—the dog breed that the joke meme coin is named after—’Floki.’
Bitcoin not ideal for cyber crime, says Filecoin Foundation chair
Bitcoin was recovered by the FBI from the Colonial Pipeline ransomware cyber criminals DarkSide, sparking privacy concerns around cryptocurrencies.
China Blockchain Report
Blockchain Is Not China’s Future — It Is The Present Blockchain technology is a national priority for China, and it’s being integrated in both enterprise and government. Nowhere else in the world has a country approached the development of a technology with such a sense of urgency. Forkast.Insights sat down with top China-based insiders, academics, protocols, […]
Building construction meets blockchain, Binance launches NFT platform | The Daily Forkast
Construction meets blockchain in Australian and Binance’s NFT marketplace is open for business.
Mining rig maker Bitmain halts sales amid flood of second-hand machines
Chinese crypto mining rig maker Bitmain has decided to suspend global spot sales of its Antminer machines, as some of its clients are reselling their rigs.
Stories of emerging technology at the intersection of business, economy, and politics. From Asia, to the world. Technology is by its very nature, disruptive. But understanding it also helps us navigate this age of disruption better. Forkast was started in 2018 with a simple premise: Technology should be understood by the people it will impact […]
Blockchain data cruncher Chainalysis raises $100M to expand in Asia Pacific
Chainalysis, the blockchain and cryptocurrency data analytics firm, announced today that it has raised US$100 million in a Series E funding round with a US$4.2 billion valuation. Fast facts: Headquartered in New York, Chainalysis provides blockchain-based software that enables governments and businesses to detect and prevent cryptocurrency crime and money laundering. Chainalysis’ series E round […]
Tesla, Facebook and Netflix stock tokens launch on Solana blockchain
Swiss-based Digital Assets AG, a firm focused on the design of tokenized stock infrastructure, has launched over 50 tokenized stocks on the Solana public blockchain.
Suspects arrested in US$500M ransomware crypto laundering case
Law enforcement agencies in several countries have arrested suspected members of a crypto-linked cybercrime group believed to be responsible for laundering more than US$500 million from ransomware attacks.
Blue House responds to petition; Bitmain offers relocation assistance | The Daily Forkast
South Korea’s Blue House responds to a national petition calling for the financial watchdog head’s resignation.
Paraguay university to accept crypto for tuition fees
A university in Paraguay has announced that it will begin accepting cryptocurrency as payment for tuition starting from August.
Bitcoin ETFs start trading on Brazil, Dubai stock exchanges
QR Capital’s Bitcoin exchange-traded fund — the first Bitcoin ETF in Latin America — has been listed on Brazil’s stock exchange.
Survey: 32% of novice traders only invested in crypto in past year
Nearly one in three novice traders reported making no traditional investments outside crypto over the past year, according to a survey published today by Overbit, a Singapore-based cryptocurrency exchange. In contrast, 85.3% of professional traders reported diversifying their investment portfolios to stock, real estate or other traditional assets. Fast facts: The survey of 3,000 traders […]
South Korea points to crypto regulation efforts after calls for watchdog to quit
South Korea’s presidential office has reacted defensively to a petition calling for the chief of the country’s main finance sector regulator to step down over comments he made about cryptocurrencies.
Australian auction house begins accepting crypto for all items
Auction house Lloyds Auctions Australia has begun accepting cryptocurrency for all purchases on its marketplace.
Rig maker Bitmain offers help to Chinese miners looking to relocate abroad
Chinese mining rig maker Bitmain is offering assistance to clients that want to relocate their cryptocurrency mining operations from China to other countries.
John McAfee dead by suicide in Spanish jail before extradition to US
John McAfee has died by suicide in a prison cell in Barcelona after a Spanish court authorized his extradition to the US where he faced tax evasion charges.
Bitcoin: Follow the money. Titan goes Titan-ic. China’s footloose miners.
Top blockchain and cryptocurrency news: Bitcoin’s still winning. Titan’s troubles as a teachable moment. Beijing creates a crypto mining diaspora.
Chinese crypto mining rig maker Bitmain suspends sales as prices drop
Chinese mining rig maker Bitmain has stopped selling in-stock cryptocurrency mining equipment amid a plunge in the prices following a shutdown of major mining pools in China.
South Korea’s Upbit sued for patent violation, Alipay launches NFT platform | The Daily Forkast
Another legal challenge faces cryptocurrency exchange Upbit. In China, Ant Group is getting into the NFT game — through Alipay.
South Korean crypto exchange Upbit in dock in trading tech case
South Korean crypto exchange Upbit — the country’s biggest — is facing a lawsuit filed by a university foundation alleging patent infringement.
Indian crypto investors could be stung by 2% foreign operator levy
Indian cryptocurrency investors could face a 2% levy on transactions made through foreign-owned crypto exchanges operating in the country.
Iran seizes record haul of 7,000 crypto mining machines
Iranian police have confiscated 7,000 cryptocurrency mining machines from an abandoned factory in western Tehran, the largest batch discovered in recent days.
U.S. Treasury nominees pledge beefed-up crypto AML enforcement
Two nominees to the U.S. Treasury Department have promised, if they are confirmed in their posts, to implement new regulations relating to cryptocurrency.
Bitcoin price rebounds after falling below $30K for first time in 6 months
After a spate of bad news, Bitcoin’s price tumbled to its lowest level this year before climbing back up to $34,000. Where are BTC prices likely to go next?
What is Ethereum, and could it become the future of blockchain?
Ethereum is much more than a cryptocurrency, and it has already attracted huge interest among investors. What’s all the fuss about? Forkast.News explains.
New crypto mining hot spots emerge; Korea crypto controversy escalates | The Daily Forkast
The next generation of mining hot spots are shaping out in the aftermath of China’s mining exodus as Upbit’s delisting generates new enemies.
Chinese crypto miners head west as Beijing’s crackdown gains pace
Kazakhstan offers nearby bolthole as North America and Europe beckon.
South Korean crypto exchange Upbit to sue Pica Project after delisting coin
South Korean cryptocurrency exchange Upbit is preparing legal action against crypto coin issuer Pica Project, whose tokens it has delisted from its platform.
Bearish crypto sentiment focused on Bitcoin, CoinShares says
Bitcoin is in its sixth consecutive week of institutional outflows, with US$89 million exiting the coin, according to a weekly fund flows report.
Bybit joins growing list of crypto exchanges in Canadian regulator’s crosshairs
The Ontario Securities Commission (OSC) is seeking to bring enforcement action against Singapore-based crypto derivatives exchange Bybit for allegedly violating the Canadian province’s securities laws, according to a statement. Fast facts: “Bybit, incorporated in the British Virgin Islands, is operating an unregistered crypto asset trading platform, encouraging Ontarians to use the platform, and allowing Ontario […]
Sotheby’s will accept Bitcoin and Ether for 101-carat diamond auction
Sotheby’s has announced it will be accepting cryptocurrency as payment in an upcoming auction for a 101.38-carat diamond with flawless clarity.
Cash for CBDCs at Beijing ATMs; Asia sees new unicorn in Amber Group | The Daily Forkast
CBDC ATMs appear around Beijing and Hong Kong-based Amber Group is Asia’s billion dollar unicorn after raising US$100 million in its Series B.
Chinese central bank orders lenders to cut cryptos’ financial lifelines
The People’s Bank of China has told the country’s big banks and other finance sector heavyweights to cut off financing sources for cryptocurrency transactions.
Bitcoin and Ethereum prices fall: Is the crypto market in an over-leveraged bubble?
Against a backdrop of El Salvador’s BTC boosts, famed investor Michael Burry warns about a crypto price bubble and China intensifies its crypto clampdown.
Iran bans blockchain association, citing regulatory breaches
Iran’s interior ministry has suspended the Iran Blockchain Association over alleged breaches of government regulations.
S. Korean banks start crypto exchange reviews as contract renewals loom
South Korean lenders have started money laundering risk assessments of the country’s “big four” cryptocurrency exchanges, with which they have contracts to provide real-name accounts.
Bitcoin hashrate plunges as Chinese crypto mining crackdown hits Sichuan
The Bitcoin hashrate plunged over the weekend following a clampdown on cryptocurrency mining by the southwestern Chinese province of Sichuan.
Paraguay may adopt Bitcoin as lawmaker seeks to follow El Salvador
Following El Salvador’s move to become the first country in the world to recognize Bitcoin as legal tender, a Paraguayan congressman has announced plans to do the same in the South American nation next month.
Asia’s newest unicorn, crypto trading firm Amber Group, raises $100 million
Forkast.News speaks with Michael Wu, Amber Group’s co-founder and CEO, on how the crypto firm is going from $100 million to $1 billion in valuation.
Survey: Crypto investing gender gap is narrowing in Australia
The number of Australian women investing in cryptocurrency has grown this year from 7% in January to 11% in June.