Articles filed under

Cryptocurrency Exchanges

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March 2023

Hong Kong may face backlog in virtual asset license applications as demand grows, former SFC regulator says

Angelina Kwan, who helped shape early Hong Kong automated trading services and internet trading regulation, told Forkast the upcoming virtual asset licensing regime is almost identical to that for traditional financial institutions.

India imposes money laundering regulations on crypto industry

India’s crime fighting agencies have been investigating crypto exchanges and individuals on money laundering charges and have now put the onus on exchanges to report suspicious transactions.

Singapore’s DDEx eyes security token offerings, mulls adding more cryptocurrencies

DBS bank’s digital exchange, which serves institutional clients, said macroeconomic conditions last year were not suitable for security token offerings (STO), but it will explore opportunities for such listings in 2023 and plans to add more crypto tokens.

FastForkast headlines

Zipmex buyer misses payment, could risk US$100 million buyout: Bloomberg

Bitget invests US$30 mln in BitKeep wallet, becomes controlling shareholder

Singapore to publish crypto, stablecoin consultation feedback by mid-2023

Singapore-based gets preparatory license to expand services in Dubai

New York attorney general sues KuCoin for ‘falsely representing itself as an exchange’

Thailand to offer tax breaks to firms issuing investment tokens

March 2023

Crypto exchanges face an existential challenge. What can bring users back?

Amid the rubble of FTX and other centralized exchanges, cross-chain technology and on-chain trading offer more trustworthy alternatives, writes Simon Harman of Chainflip.

Centralized crypto exchanges are dying, so long live centralized crypto exchanges?

Multi-billion dollar bankruptcies, fraud allegations, scandal, and plunging cryptocurrency prices in 2022 all characterized why investors came to distrust centralized exchanges. Yet, some commentators expect platforms to become ever more centralized … and regulated.

Go ahead and ban staking. Crypto investors will just go elsewhere

The SEC’s latest heavy-handed approach toward crypto will leave investors less protected while benefitting dodgy offshore companies, writes Danny Talwar of Koinly.

Lessons from FTX: crypto investment risks and how to avoid them

The recent spate of crypto exchanges freezing customer accounts should be a wake-up call to investors everywhere. What can you do to better protect yourself?

FastForkast headlines

Thailand to offer tax breaks to firms issuing investment tokens

Gate Group set to enter Hong Kong

Binance tells Indian crypto exchange WazirX to remove funds from its platform as feud escalates

Binance re-enters S. Korea through GOPAX equity purchase: report

Crypto exchange PayBito begins to integrate ChatGPT into its platform

U.S.-based cryptocurrency exchange Bittrex lays off 83 employees

February 2023

India’s CoinSwitch exchange to add non-crypto products amid punishing taxes on digital asset trading

Indian cryptocurrency exchanges faced a flurry of taxes on trading last year that saw volumes across most platforms drop as much as 90%, slashing income from trading fees. What’s a crypto exchange to do? Maybe sell mutual funds?

Trust and Compliance

Many crypto exchanges are implementing proof of reserves as trust and confidence are becoming two of the biggest watch words in the crypto space, but traditional institutions are also trying to bring the crypto sphere back to health.

India’s Crypto Outlook

WazirX VP Rajagopal Menon sits down with Forkast to provide some insight as survival becomes a huge concern for crypto exchanges in India.

How crypto custodians can help centralized exchanges win back public trust

In the post-FTX world, crypto exchanges must offer stronger protection for investors’ assets, writes Colin Brooks, chairman of the advisory board of Hex Trust.

FastForkast headlines

U.S.-based cryptocurrency exchange Bittrex lays off 83 employees

Coinbase asks Japan customers to withdraw holdings as it halts operations

India’s WazirX crypto exchange releases proof of reserves, says 90% of user assets in Binance wallets

Thai regulator probes Zipmex crypto exchange amid acquisition: report

Coinbase to cut 20% of its remaining workforce

Australian crypto exchange Swyftx to end interest yielding product, cites lack of regulation clarity

Indian crypto exchanges may lose US$1.2 trillion of trade volume in next four years: research

Binance declines comment on speculation it may buy South Korean crypto exchange GOPAX

January 2023

Can crypto go mainstream in the next 18 months?

As the FTX debacle invites more stringent regulations, Caroline Bowler of BTC Markets believes crypto can go mainstream in the next 18 months.

The last 12 months the year to forget, says India’s WazirX crypto exchange  

A lot of the troubles for India exchanges in 2022 will run into next year as they shed staff and run down reserves to stay afloat, and not all are expected to make it.

Regulation shaping up?

A year of scandals in the crypto industry has led to questions about the viability of regulation.

US bill set to demand know-your-customer from crypto companies

Top blockchain and crypto news: US senators push for crypto KYC. SBF faces the music in US courts. Alibaba Cloud to launch blockchain node.

Sam Bankman-Fried in Bahamas police custody, faces criminal charges in U.S.

Top blockchain and crypto news: SBF denied bail, US extradition likely next. The Block chief quits over secret FTX loans. Hong Kong readies digital asset rules.

FastForkast headlines

Binance declines comment on speculation it may buy South Korean crypto exchange GOPAX

S. Korea’s Busan city crypto exchange moves ahead without global partners

India’s CoinDCX publishes full proof of reserves

Binance’s proof-of-reserves auditor suspends work for crypto firms

FTX Bahamas Co-CEO warned authorities on Nov. 9 of illegal customer asset transfers, documents show

Binance resumes USDC withdrawals amid record stablecoin outflows

KuCoin’s BTC, ETH reserves overcollateralized, says auditor Mazars

Judge approves subpoenas for 3AC cofounders 

Australian crypto exchange Swyftx cuts 40% of jobs amid fallout from FTX collapse

Crypto exchange Bybit to cut 30% of staff to ‘navigate market slowdown’

December 2022

Can crypto return?

Terra, 3AC and now FTX, it’s been a difficult year, but can crypto come back stronger?

Genesis jitters keep investors on edge as contagion risks grow

Top blockchain and crypto news: Fear stalks crypto as Genesis wobbles. FTX cleanup begins. China’s NFT scene shrinks.

FTX failed because of humans, not crypto

Human greed and deception led to FTX’s fall. That’s why the antidote is not more regulations but could be found in blockchain’s original promises, writes Marieke Flament, CEO of NEAR Foundation.

How Hong Kong and Singapore can make Asia the center of crypto’s future

Yes, there is rivalry between the two global finance hubs. But their strengths are also complementary for Asia to become an even bigger crypto powerhouse, writes Lily Z. King.

Crypto exchanges see record-high week of BTC outflows, following FTX saga

Bitcoin outflows from centralized crypto exchanges rose to a historic high this week, as investors turned to self-custody options following the collapse of FTX.

Why FTX Shows We Underestimate Our Risk

The FTX sage continues and brings in questions about where should we be keeping our crypto.

FastForkast headlines

Crypto exchange Bybit to cut 30% of staff to ‘navigate market slowdown’

Singapore’s Matrixport eyes US$100 mln fundraiser at US$1.5 bln valuation

Binance releases proof of reserves

India’s CoinDCX crypto exchange publishes proof of reserves

US senators call for holding FTX executives accountable to fullest extent of the law

India’s CoinSwitch launches platform to enable multi-exchange trading with single login

CoinMarketCap launches proof-of-reserve tracker for crypto exchanges

Crypto exchange Bitget to expand workforce by 50%, registers in Seychelles

Thai crypto exchange eyes Hong Kong for possible public share sale in 2024: report

Singapore’s central bank says not possible to protect local users from FTX fallout

S. Korea mulls requirement for digital asset exchanges to compensate sudden withdrawal suspension

Taiwan’s top three crypto exchanges say operations unaffected amid FTX fallout

Crypto exchange Bullish says it has no exposure to FTX

Bahamas regulator orders transfer of all FTX digital assets to government wallet

FTX contagion in S.Korea: GOPAX halts Genesis-backed DeFi

New FTX chief says lack of controls at bankrupt exchange ‘unprecedented’

Indian crypto exchange CoinSwitch says proof of reserves shows sufficient reserves to match clients’ stake

Crypto winter may last until end of 2023: Coinbase research

Korbit is first South Korean exchange to disclose full crypto reserves, post-FTX debacle

Crypto lender BlockFi faces possible failure amid FTX collapse, WSJ says