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SK govt assists crypto exchanges; Aus firm accepts crypto for rent | The Daily Forkast

South Korean government is holding on-site visits to help crypto exchanges get regulated while an Aussie business wants crypto for rent.

Indian crypto exchange WazirX in probe over US$382M in suspect transactions

India’s Enforcement Directorate has issued a show cause notice to cryptocurrency exchange WazirX for alleged foreign exchange violations involving 27.9 billion rupees (US$382 million).

How the layer 2 race is scaling Ethereum before ETH 2.0

While the world waits for Eth 2, blockchain developers like Enya.ai and OMG Network are trying to solve Ethereum’s scalability issues via layer 2.

Twitter chief says integration of BTC Lightning Network “a matter of time”

Twitter’s founder and CEO says the integration of Bitcoin layer-2 payments — the Lightning Network — into the social media platform may be on the horizon.

Some cryptos unfit for payment, says Chinese central bank ex-governor

A former governor of the People’s Bank of China said today that some cryptocurrencies have forfeited their opportunity to return to use as methods of payment.

Foreign crypto exchanges eye India despite regulatory uncertainty

Despite regulatory uncertainty over cryptocurrency trading in India, some of the world’s largest crypto exchanges are looking to enter the market.

Bitmain rallies crypto miners to ponder options as industry eyes China exit

Chinese crypto mining rig maker Bitmain is reportedly set to meet with miners and industry participants next week to discuss relocating mining operations overseas.

Australian serviced office firm to accept rent in crypto

Australian serviced office firm Business Hub will accept cryptocurrency as payment for rent on serviced office space and other business services as of July 1.

Singapore’s GIC takes 8% stake in HK’s digital asset company BC Group

GIC, Singapore’s sovereign wealth fund, is investing in BC Group—the parent company of OSL, Hong Kong’s first licensed cryptocurrency exchange.

Bitcoin hot in Singapore; China crypto mining bans widen | The Daily Forkast

El Salvador’s adoption of Bitcoin has the world buzzing. Can Singapore be next? China mining crackdown continues.

Hashrate drops as Chinese crypto mining ban extended to more provinces

Cryptocurrency mining prohibition in Xinjiang and Qinghai follows Inner Mongolia ban.
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Coinbase partners with 401(k) provider ForUsAll on crypto retirement plans

Retirement investment platform ForUsAll is partnering with Coinbase to expand access to cryptocurrencies through the U.S. 401(k) pension scheme.

Crypto wallet firm Ledger closes US$380M funding round

Paris-based crypto hardware wallet provider Ledger announced today the completion of a US$380 million series-C fundraise.

Saudis lead $30M Series A for China nationwide blockchain network manager

Beijing-based Red Date Technology — the face of China’s ambitious nationwide blockchain service network — receives a big investment boost.

U.S. millennial crypto fans want to spend their coins like cash, study shows

Ninety-three percent of millennial current or former cryptocurrency holders in the U.S. would consider using their digital coins for everyday purchases, according to a recent survey.

Asian crypto exchange Kikitrade wins funds from UK billionaire Alan Howard

Kikitrade today announced a US$12 million fund raise with investment from British hedge fund billionaire Alan Howard to accelerate its growth.

China’s biggest crypto exchanges blocked from internet searches, social media

Huobi, OKEx and Binance have been blocked by the country’s most popular internet search engines and social media platforms.

Ripple: Delaying SEC lawsuit would pose ‘existential threat’ to XRP

In a new court filing, Ripple describes the damage the SEC lawsuit has already done to XRP and the payment company’s now-frozen US business.

Moonstake ties up with Uzbekistan exchange in blockchain push

Staking service provider Moonstake has partnered with UzNEX to provide blockchain consulting services in Southeast Asia and the Middle East.

New York State passes bill restricting Bitcoin mining

A bill restricting the granting of crypto mining permits on environmental ground has passed the New York State Senate.

Hong Kong eyes CBDC; Aussie Millennials favor crypto vs. real estate | The Daily Forkast

Hong Kong looks to explore CBDC feasibility as Australian millennials favor investing in crypto over traditional assets.

El Salvador’s Bitcoin experiment. Ethereum’s steady rise. Free money in China.

Top blockchain and crypto news: El Salvador bets on Bitcoin as national currency. ETH gains ground on BTC. Beijing dishes out digital yuan in latest trials.

Iranian president calls for crypto regulation to mitigate risks

Iran wants to “preserve and protect national interests” in the field of digital currencies and cryptocurrencies, Iranian President Hassan Rouhani says.

El Salvador’s Bitcoin law wins vote, set to shake up BTC investments everywhere

Now that Salvadoran President Nayib Bukele’s Bitcoin-as-legal-tender bill is almost reality, what will it mean for BTC investors around the world?

Miami property deal breaks crypto real estate record

A Miami property has set a record for the highest price paid in cryptocurrency in a real estate transaction — US$22.5 million.

Chinese Bitcoin investors among most profitable globally

Bitcoin investors in China saw greater returns in 2020 than almost any other nation — second only to the US.

Australian crypto exchange Bitunivex plans to go green

Australian crypto exchange Bitunivex.com has announced plans to offset its carbon footprint by investing in green crypto initiatives.

UNICEF invests in blockchain startups for financial inclusion

UNICEF Venture Fund is awarding up to $100,000 to blockchain startups, including India’s GovBlocks, in its latest funding round. Here are the other projects.

India crypto feud continues; Korea mining thief busted | The Daily Forkast

Regulatory uncertainty pushes India’s crypto industry towards self regulation as a secret Ethereum miner gets busted in Seoul Arts Center.

KuCoin exchange in Ontario regulator’s sights after law breaches

The Ontario Securities Commission is set to take enforcement action against two companies behind the cryptocurrency exchange KuCoin for violating the province’s securities laws.

How NFTs are redrawing Asia’s art scene from artists to galleries

From Phillips auction house in Hong Kong to Art Fair Philippines, non-fungible tokens are redefining how Asia appreciates, buys and profits from art.

World Economic Forum offers DeFi ‘toolkit’ for policymakers

In collaboration with Wharton business school, WEF releases a toolkit for governments to consider the opportunities and risks of decentralized finance.

Ripple asks court to ignore 70+ SEC actions against cryptos before XRP

Did Ripple have ‘fair notice’ that SEC might deem the XRP a security? Ripple calls report on SEC’s prior anti-crypto enforcement actions ‘misleading.’

Indian crypto exchanges form self-regulatory body

Crypto exchanges in India have partnered with the Internet and Mobile Association of India to form a self-regulatory body.

Bitcoin worth millions recovered from Colonial Pipeline ransomware attack

Millions of dollars worth of Bitcoin paid to ransomware hackers who shut down the main fuel pipeline on the U.S. East Coast last month has been recovered.

Take that, Miami: Hong Kong hosts its own Bitcoin meet-up

As 50,000 Bitcoiners and crypto superstars whoop it up at Miami’s Bitcoin 2021 fest, a smaller group of BTC fans hold their own at the Fringe in Hong Kong.

Four in 10 Australian millennials would buy crypto over real estate

Nearly 40% of Australians born between the early 1980s and mid-1990s would rather invest in cryptocurrencies than real estate, according to a nesurvey.

Crypto exchange Fasset expands to Southeast Asia

Cryptocurrency exchange Fasset has received three licenses from the Labuan Financial Services Authority in Malaysia for business operations in the country.

XRP sees robust institutional inflows; Ethereum ‘altcoin of choice,’ report says

XRP last week saw inflows of US$7 million into investment products, the most since April, according to CoinShares.

Chinese crypto social media crackdown; Seoul tightens rules on crypto | The Daily Forkast

Chinese social media Weibo bans crypto accounts as employees of South Korean crypto exchanges can no longer trade on their own platforms.

Binance launching NFT platform with ‘100 Creators’ campaign

Binance today announced a “100 creators” campaign featuring creative talents from around the world as part of the launch of its non-fungible token marketplace on June 24.

South Korean crypto exchange executives face ban from own platforms

South Korea’s Financial Services Commission has announced plans to ban executive employees and exchange operators from trading on their own platforms, prompting a chorus of complaints. Fast Facts: The FSC’s Financial Intelligence Unit recently met with officials from cryptocurrency exchanges to explain upcoming amendments to the Act on Reporting and Use of Certain Financial Transaction Information, […]

NortonLifeLock bids to turn users into home Ethereum miners

Users of cybersecurity product NortonLifeLock will soon be able to mine Ethereum on their home computers through a new feature named Norton Crypto.

Weibo blocks crypto accounts as Chinese clampdown continues

Microblog platform Weibo has blocked more than 30 influential Chinese cryptocurrency-related accounts amid a series of actions by Beijing against crypto mining and trading.

Australia’s first Bitcoin capital growth fund gaining interest

Australia’s first capital growth fund to offer institutional exposure to BTC has announced its received inquiries from some of the country’s largest companies.

What blockchain games like Alien Worlds say about life outside metaverses

In a special Q&A, Sarojini McKenna of Alien Worlds discusses play-to-earn gaming, digital assets like Trilium, and lives increasingly lived inside virtual worlds.

How serious is the threat of Bitcoin mining to the environment?

Is Bitcoin’s carbon footprint a growing risk to Earth, or is it a red herring? On this year’s United Nations World Environment Day, crypto mining is a hot topic.

HK’s Bitcoin Meetup ahead of Bitcoin 2021; Banksy work offered for crypto | The Daily Forkast

Hong Kong arranged a Bitcoin gathering ahead of Bitcoin 2021 Conference in Miami as Phillips auction house offers Banksy’s work for crypto.

Criticisms of Tether’s reserves are unfounded, says Bitfinex CTO

After Tether’s legal settlement with New York, USDT’s growth is exploding—dispelling concerns over Tether’s reserves, says Bitfinex CTO Paolo Ardoino.

Prominent Chinese economist urges public to ‘avoid confusion’ between digital currency and cryptocurrencies

It is important to distinguish between developing a digital currency for currency digitalization and digitalization of assets or cryptocurrencies so that China can be more focused on preventing risks in the financial sector, said Fan Gang, a Peking University professor and a prominent advocate in China for economic reform. Fast Facts: In a keynote speech […]

Regulators in Hainan warn of illegal crypto fundraising schemes

Regulators Hainan province have issued a warning against illegal fundraising schemes using crypto or blockchain..

UK watchdog: Crypto firms fall short on anti-money laundering rules

Many of Britain’s crypto firms are failing to meet required anti-money laundering and counter-terrorism financing laws, says the country’s watchdog.

BitFlyer to launch Bitcoin-Japanese yen pair for U.S. traders

BitFlyer announced today that it is launching a Bitcoin-to-Japanese yen pair for currency traders in the U.S.

Governments meet crypto industry; Hope for Bitcoin miners in Sichuan | The Daily Forkast

Governments meet up with the crypto industry to discuss how to regulate the booming industry as BC Group’s OSL ties up with SC Ventures.

NFT sales slump amid May crypto crash

The market for non-fungible tokens took a beating in May amid turmoil in the cryptocurrency sector, according to industry data.

Ripple execs seek info to defend XRP trades from 16 foreign crypto exchanges

To defend themselves against SEC lawsuit, Ripple’s CEO and chairman ask court for help getting XRP info from a who’s who list of offshore crypto exchanges.

South Korean crypto exchange Upbit in the dock over botched transfers

Eleven users of Upbit have filed a class action lawsuit against its owner, Dunamu Inc., seeking damages over a suspected technical failure.

Ethereum is rocketing out of this world with SpaceX and SpaceChain

Can Ethereum, also known as the ‘World Computer,’ function outside this world — in space? A SpaceX rocket launch today will put that to the test.

Google to lift ban on ads for crypto wallets, exchanges

Google has announced plans to lift a ban on advertising cryptocurrency wallets and exchanges that has been in place for almost three years. A ban on advertising initial coin offerings will remain, however. Fast Facts: An advertising policy update on the company’s main webpage states that advertisers of crypto wallets and exchanges targeting the US […]

‘Green’ crypto mining should be spared crackdown, Canaan chief says

Green crypto mining operations should be spared China’s recent crackdown on the sector, according to the CEO of Canaan Inc.

SpaceChain shoots blockchain to space; Cardano’s bridge to China | The Daily Forkast

SpaceChain shoots blockchain to tech to the International Space Station aboard Falcon 9 as Cardano announces first cross-chain bridge with Nervos.

Cardano and Nervos to launch cross-chain bridge

Input Output Hong Kong and Nervos announced today that they will be launching a cross-chain bridge to connect the two networks.

Is India’s central bank greenlighting crypto? Bitcoin fees fall to new lows. Cardano rolls out Alonzo upgrade for DeFi.

Other top blockchain and crypto news: Thailand’s SEC tries to rein in DeFi via regulation. Will China’s future DCEP digital yuan offer smart contracts?

Dogecoin to list on Coinbase Pro

Dogecoin has gained an additional measure of credibility, with crypto exchange Coinbase announcing that it will add DOGE to its professional trading platform.

Ethereum investment products hit market-share high of 27%, report says

Ethereum has hit a market-share high of 27% of all digital asset investment fund products following recent price corrections.

Thailand warns over DeFi; India green lights cryptos | The Daily Forkast

Thailand becomes one of the first governments to attempt DeFi regulation as India’s RBI clarifies that banking ban no longer exists.

What’s up with Taproot, the biggest proposed change to Bitcoin since 2017?

Bitcoin’s proposed Taproot update for smart contracts and privacy has wide verbal support from miners, but will they put their crypto where their mouth is?

S. Korean banks process US$57B linked to crypto exchanges

South Korean banks processed over 64 trillion won (US$57 billion) of deposits and withdrawals linked to crypto exchanges in the first quarter.

Robinhood’s Chinese rivals to launch crypto services abroad

China-based trading apps Futu and Tiger Brokers have announced plans to move into crypto to compete outside China with apps such as Robinhood and eToro.

Bitcoin suffers second-biggest monthly price drop in May

Bitcoin dropped by 37.5% in May after hitting a low of US$34,195 yesterday, the second-largest drop on record after it fell 40% in September 2011.

Gold vs. Bitcoin: Which one is better as a safe-haven asset?

Gold prices are rising again and at a three-month high. How does gold — a store of value for over 2,500 years —  compare to Bitcoin as a refuge from market turmoil?

Taxing crypto down under; Privacy coins spike in value | The Daily Forkast

Tax season is here and the ATO wants to make sure Aussies pay their taxes for crypto earnings. Also, Privacy coins have surged over the past weeks.