Cryptocurrency Exchanges

Cryptocurrency exchanges will face public backlash if they continue to operate in Russia, Alex Bornyakov, Ukraine deputy minister of digital transformation, said in an interview with Reuters on Tuesday, reiterating his call for a blanket ban on Russian crypto traders. See related article: Coinbase blocks 25,000 Russian crypto wallet addresses Fast facts “Private business decides […]

Binance has launched its own fiat-to-crypto service provider Bifinity to improve on-ramps and encourage more merchants to take crypto payments. See related article: Israel added to Binance’s list of global regulatory trouble spots Fast facts Bifinity offers over 50 cryptocurrencies and supports major payment methods, including Visa and Mastercard. Crypto business aggregator Coinmap has tracked […]

Bitcoin and other cryptos are being used on both sides of the fight, raising ethical issues that cut to the core of decentralization, says AAX’s Ben Caselin

As the war in Ukraine enters it’s second week, we take a look at how cyptocurrencies and digital assets can play a role in a conflict.

Upbit, Bithumb, Coinone, and Korbit announced restrictions to block Russian IP addresses on Thursday, bringing the total to five in the nation.  See related article: S.Korean crypto exchange freezes around 20 Russian accounts Fast facts Gopax was the first crypto exchange in South Korea to publicize the restriction, citing efforts to align with Western sanctions […]

Crypto donations on the rise for Ukraine as Russian aggression continues. Meanwhile in Asia, China’s Two Session’s are set to begin – could Ukraine and crypto be a part of the agenda?

War-mongering Russia is finding itself increasingly isolated. What if the rogue state tries to regain its financial footing via cryptocurrency?

South Korean cryptocurrency exchange Gopax announced on Wednesday that it has frozen and blocked Russian accounts and IP addresses from its platform. See related article: Russian ruble plunges; Ukraine DAO aids civilians Fast facts According to local media, the exchange has blocked around 20 accounts belonging to Russian users. Gopax said its restrictions align with […]

The U.S. is asking crypto exchanges around the world to prevent Russia from skirting sanctions imposed after it invaded Ukraine last week, Bloomberg reported. See related article: Binance may join sanctions imposed on Russian targets Fast facts The Biden administration is concerned that cryptocurrencies can be used to evade heavily regulated traditional financial systems. The […]

Trading volume on Ukrainian crypto exchanges triples as Russia continues its attack on Ukraine. Meanwhile, there is still no sign of Russia using crypto to evade sanctions yet,

Around 30 South Korean crypto and blockchain firms have officially started partnering with CODE, a joint venture formed to meet the Financial Action Task Force (FATF) travel rule. See related article: What lies ahead for crypto regulations in 2022 Fast facts FATF’s travel rule is a global set of guidelines for virtual asset service providers […]

Oracle Red Bull’s Formula 1 (F1) racing team announced on Wednesday a multi-year sponsorship deal with Singapore-based derivative exchange Bybit in what it claims to be the largest annual crypto sponsorship to date. Fast facts While the scale of the sponsorship hasn’t been disclosed officially, media accounts cited an unnamed source in reporting the deal […]

The U.S. securities watchdog has launched a probe into crypto exchange Binance’s relationship with two trading firms with ties to founder Changpeng Zhao, the Wall Street Journal reported. Fast facts The Securities and Exchange Commission (SEC) is examining whether Binance’s U.S. arm properly discloses to users its links to two trading firms — Sigma Chain […]

South Korean crypto exchange GOPAX revealed Tuesday it has partnered with Jeonbuk Bank to provide clients with real-name withdrawal and deposit accounts, qualifying the exchange to offer cash-to-crypto services. Fast facts After registering its new partnership with Korea’s Financial Intelligence Unit (FIU), GOPAX is set to become the fifth digital asset exchange that offers Korean […]

Exchanges say the crypto tax was announced without key directives. While exchanges await clarity, they struggle to figure out their role in the tax system.

Reserve Bank of India’s chief sends crypto warning. In addition, Korean crypto execs gets jailed

Indian crypto trading exchange CoinDCX says it has crossed the 10 million user mark. Fast facts CoinDCX had 3.5 million customers as of August last year.  CoinDCX became India’s first crypto unicorn after its Series C funding round led by former Facebook co-founder Eduardo Saverin’s B Capital and others. Established in 2018, the company’s milestone […]

Singapore-based cryptocurrency exchange Bybit has teamed up with Cabital, a Hong Kong-based crypto wealth management platform, to offer users more fiat on-ramp pathways to buy crypto. Fast facts Bybit said Tuesday in a statement that through the partnership, its users can use EUR and GBP to buy crypto on the Bybit platform and transfer crypto […]

A 30% tax doesn’t legalize cryptocurrencies but exchanges no longer worry about a ban, while investors would pay taxes at twice the rate of other asset gains.

Indian crypto exchanges are experiencing a surge in trading volume since finance minister Nirmala Sitharaman announced a 30% tax on crypto transfers at the budget session of parliament on Tuesday.  Fast facts Binance-owned WazirX’s 24-hour trading volume has soared by 56.26% while its WRX token price jumped 25.3%, as of press time.  The trading volume […]

The owner and operator of cryptocurrency exchange FTX.COM announced Monday it closed US$400 million in a Series C fundraise that now values the company at US$32 billion. Fast facts Investors participating in this round included Temasek, SoftBank Vision Fund 2 and Tiger Global, among others. The company said all of the investors have participated in […]

Binance signed a memorandum of understanding with Bangkok-based power company Gulf Energy Development to establish a digital asset exchange in Thailand, the Southeast Asian nation with a population of 70 million people.  Fast facts According to Gulf Energy’s letter to the Thai Stock Exchange on Monday, its local resources coupled with Binance’s exchange technology would […]

The Monetary Authority of Singapore (MAS), the country’s central bank, issued guidelines to restrict cryptocurrency service providers from marketing or promoting their services to the general public on Monday.  Fast facts MAS warned businesses to refrain from promoting cryptocurrencies and related services to Singaporeans in public areas, including websites and social media. However, firms are […]

Palau will issue a stablecoin to support plans for a digital overhaul of its economy, according to its president. Fast facts President Surangel S. Whipps, Jr. said the Pacific archipelago was also working on establishing a crypto exchange, a corporate registry and digital wallets for each resident in its digital revamp. Palau is planning a […]

Prosecutors in South Korea are demanding life sentences for seven former executives of a now-defunct cryptocurrency exchange who were charged with defrauding investors of just under US$1.9 billion. The executives are not yet convicted, and the trial judge will deliver a verdict on Feb. 11. Fast facts The executives of V Global allegedly took about […]

Binance CEO Changpeng Zhao is now the richest Asian person with an estimated net worth of US$96 billion, even without counting his crypto fortune, according to the Bloomberg Billionaires Index. Fast facts The daily index ranks the world’s 500 richest people, a list on which the 44-year-old Canadian founder would place 11th, according to the […]

The world’s largest crypto exchange continues struggling to stay compliant, but it has seen some luck in the Middle East.

A regulatory hurricane swept away half of South Korea’s crypto exchanges in 2021. Who are the survivors — and are there larger lessons for the rest of the world?

Binance, the world’s largest cryptocurrency exchange, today announced that it has set up a joint venture with the venture capital arm of Telkom Indonesia, the country’s largest telecommunication company, to develop a new digital asset exchange there. Fast facts Binance said in a statement that it has teamed up with MDI Ventures — a US$830 […]

Binance, the world’s largest crypto exchange, announced today that its Singapore entity Binance Asia Services has withdrawn its application to the Monetary Authority of Singapore (MAS) for a license to operate a regulated crypto exchange in the country, according to a company statement. Fast facts The exchange had operated in Singapore under an exemption that […]

Singapore-based cryptocurrency trading platform Coinhako has received backing from the SBI-Sygnum-Azimut Digital Asset Opportunity fund, with the fundraising round being three-times oversubscribed, according to a statement released today. Fast facts The fund is a venture capital fund co-managed by Japan’s SBI Group, Switzerland’s Sygnum Bank — which claims to be the world’s first digital asset […]

Kotak Mahindra Bank, a leading private bank in India, has struck a partnership with crypto exchange WazirX, the Economic Times reported. Fast facts WazirX has opened an account with Kotak that can be used to pay and receive money from investors, according to the ET report. The account will be activated after the completion of […]

Experts expect more disruption as the crypto industry matures and a younger generation places different values on status and job security.

Singapore-based crypto exchange had claimed the fan token would support BTS members — while the band’s agency denied any association with it.

Conversation between current and former SEC chairs at annual digital asset compliance summit focused on regulating crypto.

Initial operations are available to invited institutional investors including Hong Kong crypto finance service provider, Amber Group.

SK Square, a new investment firm under one of South Korea’s largest conglomerates, SK Group, chose cryptocurrency exchange Korbit as one of its first investments. The two companies aim to upgrade the trading platform’s environment in order to deliver more accurate and trustworthy investment information to users, and plan future businesses in the metaverse and […]

Singapore-based crypto exchange Coinstore has entered the Indian market despite the regulatory wrangle that points toward an impending ban on all private cryptocurrencies, the company announced today. Fast facts Coinstore has launched its website and mobile application for Indian users and plans to set up offices in Bangalore, Delhi, and Mumbai that will support its […]

South Korea’s Bithumb exchange has been officially registered under the Financial Intelligence Unit (FIU). This makes all four major exchanges of the country licensed to operate virtual assets including cash-to-crypto services. Fast facts The FIU announced on Nov. 19 it has registered Bithumb as an official virtual asset business. The country’s other three major exchanges […]

Every morning at Upbit, the nation’s largest cryptocurrency exchange, a brief and odd surge in random altcoin prices takes place. Which crypto will it be tomorrow?

Joining the slew of cryptocurrency exchanges that have completed investment rounds in recent months, New York-based cryptocurrency exchange Gemini this week announced the close of a US$400 million funding round led by Morgan Creek Digital, bringing the company’s valuation to US$7.1 billion. Fast facts Investors in the funding round — which was Gemini’s first-ever outside […]

Singapore-based cryptocurrency trading platform Coinhako has received in-principle approval from the Monetary Authority of Singapore for a digital payment token (DPT) service license — making it the first local native cryptocurrency exchange to announce that it is close to being granted the much-coveted license. Fast facts Coinhako is now working through the conditions of its […]

The Financial Intelligence Unit (FIU) has accepted Coinone’s compliance report with South Korea’s latest crypto regulations, while Bithumb is left as the only crypto trading platform out of the country’s four major exchanges to not be officially registered under the FIU. Fast facts Coinone became the third official cryptocurrency exchange of South Korea, following Upbit […]

The Seoul District Court made an unprecedented ruling in favor of investors who lost their virtual assets in a hacking incident at crypto exchange Coinrail. Fast facts On Wednesday, the court ruled that Linus Co., the operator of the Coinrail exchange, needs to pay the plaintiffs 380 million Korean won (about US$320,000). The plaintiffs, consisting […]

Trying to move beyond XRP, Ripple hopes its customers will join RippleNet with a wallet that supports fiat and other cryptos like Bitcoin and Ether.

The highly competitive cryptocurrency exchange industry appears to be consolidating, according to blockchain analytics provider Chainalysis as part of its Competitive Landscape Report that will be released next week. Fast facts The number of active cryptocurrency exchanges peaked at 845 in August 2020 and stood at 672 as at August 2021, Chainalysis reported. The exchanges […]

Cryptocurrency exchange Huobi Global, which obtained a distributed ledger technology license from the Gibraltar Financial Services Commission in 2018, will be migrating its spot trading services to the regulated entity in Gibraltar (“Huobi Gibraltar”), the company announced today. Fast facts Huobi has received approval from the Gibraltar Financial Services Commission to migrate its cryptocurrency spot […]

London-headquartered fintech startup Revolut is looking to build its own crypto exchange, according to a new job posting. Fast facts The selected candidate will lead neobank Revolut’s “technical team to architect and build Revolut Crypto exchange,” the job posting says. The candidate will need experience in building order matching engines, like those used on crypto […]

Thailand’s oldest bank, Siam Commercial Bank, has acquired a majority stake in the country’s largest crypto exchange Bitkub. Fast facts Siam Commercial Bank Securities, a subsidiary of SCB, has purchased 51% stake in Bitkub for approximately US$535.6 million, according to an announcement on Tuesday. The transaction is expected to be completed by the first quarter […]

Behind this year’s giddy markets, evil and tragedies abound. Just in time for Halloween, Forkast.News shakes out the skeletons in crypto’s closet.

Even the most reliable media can report wildly different crypto numbers. Forkast.News dives into DeFi math and crypto exchange economics to find out who’s right.

Just three months after closing a record US$1 billion series B, the two-year-old cryptocurrency exchange is now valued at US$25 billion. Fast facts The US$420,690,000 Series B-1 funding round saw the participation of 69 investors, with prominent names the lineup, including Ontario Teachers’ Pension Plan Board, via its Teachers’ Innovation Platform, Singapore’s state-owned investment firm […]

Huobi Japan has been granted approval to offer crypto derivatives as a Type I Financial Instruments Business by Japan’s Financial Services Agency (FSA) — the regulator for financial services in Japan — according to a company statement this week. Fast facts Huobi Japan currently offers spot trading for 14 cryptocurrencies, including Bitcoin, Ethereum and Huobi […]

After iron-fisted regulations closed down many exchanges, remaining trading platforms look for alternatives to transaction fees.

Some are registering companies overseas, via — you guessed it — Taobao vendors.

Singapore-based crypto trading platform Coinhako has launched “Coinhako Privé,” a digital assets platform for high net worth individuals (HNWIs) and institutions, according to a company announcement today. Fast facts The Coinhako Privé platform will provide members with institutional grade digital asset services and white glove services, such as a dedicated relationship manager, personalized support from […]

Cryptocurrency investors on the Chinese mainland continue to feel the chill from the country’s latest crypto ban, as more and more industry players exit the Chinese market. Cobo, a Singapore-based crypto management platform, is among the latest to opt out. Fast facts In order to reflect the regulatory requirements on the mainland, Cobo said Wednesday […]

As non-crypto players like Twitter and PayPal take up digital assets, Coinbase, Binance and others look for ways to expand offerings.

New Zealand-based exchange Easy Crypto has closed a NZ$17 million (US$11.75 million) Series A funding round, in what may be the largest investment raised for a startup from the country. Fast facts Led by venture capital fund Nuance Connected Capital, Easy Crypto told Forkast.News the funding round was oversubscribed by 50%, helped along by participation […]

A lawmaker claims Upbit earned hundreds of millions by listing sketchy cryptocurrencies, while the exchange rebuts that it follows fair and strict standards.

As China intensifies its crypto crackdown, regulatory clarity is a beacon for safer shores in Southeast Asia.

Hong Kong, a hotbed for crypto startups and exchanges, is at a crossroads, writes Jeremy Ng of Gemini. Here’s how the industry can better secure its future.

The Monetary Authority of Singapore (MAS) today granted licenses to DBS Vickers (DBSV), the brokerage arm of DBS Bank, and Independent Reserve, an Australian cryptocurrency exchange, to provide digital payment token services under the Payment Services Act (PS Act). Fast facts Formal approval from MAS, which follows its earlier “in-principal approval” granted to both companies […]

Mobile game company Gamevil buys a large share of crypto platform Coinone, planning to develop blockchain-based gaming.

The U.S. Commodity Futures Trading Commission has slapped a US$1.25 million fine on Kraken, one of the largest cryptocurrency exchanges in the U.S., for Commodity Exchange Act (CEA) violations, the CFTC announced yesterday. Fast facts The CFTC, in its settlement with Payward Ventures Inc., the San Francisco-based company doing business under the name Kraken, said […]

Amid growing regulatory heat, Binance — the world’s largest cryptocurrency exchange by trading volume — will restrict users in Singapore from buying cryptocurrencies using fiat, spot trading and liquid swaps on its main Binance.com platform starting Oct. 26, according to a company announcement. Fast facts Binance is advising Binance.com users in Singapore to cease all […]

Amid China’s new clampdown, why is DeFi surging and the RMB-to-crypto market important? Sam Bankman-Fried analyzes what it all means and why FTX is leaving Hong Kong for a new home.

Around 35 virtual asset exchanges will vanish as of midnight Friday, as the country imposes new rules designed to protect consumers.

D-day for Korean crypto exchanges meanwhile e-CNY project speeds up

The country’s crypto industry has been turned upside down with stricter operating rules that take effect tomorrow.

Upbit can operate as a virtual monopoly as it becomes the country’s first licensed business to handle cryptocurrencies.

Upbit passes Korea crypto race post meanwhile P2P transactions surge in India