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Cryptocurrencies

1530 articles

October 2021

N.Y. Attorney General to shut down two ‘unregistered’ crypto lending platforms

New York state Attorney General Letitia James has ordered two “unregistered crypto lending platforms” — one of which has appeared to be Nexo — to cease operations in New York, and requested another three platforms to provide information about their activities. Fast facts James said in a press release published on Monday: “Cryptocurrency platforms must […]

China’s crypto investors get creative to bypass domestic trading ban

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

Where are Bitcoin prices heading as 2021 ends? 50 experts offer predictions

As the price of Bitcoin hovers just under its all-time high, a report released today by Australia-based comparison site Finder.com is predicting that the world’s largest cryptocurrency will peak at US$80,021 later in 2021 before ending the year slightly lower at US$71,415. Fast facts Bitcoin was trading at US$62,294 at publishing time, just below its […]

How Singapore’s crypto regulations are shaping its DeFi space

Singapore is a major crypto hub. But for whom? In this primer, Malcolm Tan explains the island-state’s regulatory evolution and which groups are no longer in its favor.

Is Estonia, once a trailblazer in crypto, now killing it off?

Estonia revoked more than 70% of all crypto licenses last year. Its recently appointed anti-money-laundering chief wants to nullify the rest.

Institutional investors pour into Bitcoin amid ETF excitement

As excitement grew over the imminent approval of Bitcoin futures exchange traded funds (ETFs) in the United States, Bitcoin investment products saw inflows of US$70 million last week — the fifth consecutive week of inflows — while Ethereum saw outflows of US$1 million, according to digital assets manager CoinShares. Fast facts According to CoinShares, the total […]

What the coming Bitcoin-futures ETF bonanza means for investors

The first US Bitcoin futures EFT is set to begin trading today. Will this exchange-traded fund bring Bitcoin closer to the masses?

Bitcoin nears all time high; HK exhibition showcases NFTs for good

Bitcoin nears all time high also HK exhibition showcases NFTs for good

Tether fined $41M for misleading claims it was fully backed by fiat

Tether, the issuer of the world’s most popular stablecoin USDT, has been fined US$41 million by the U.S. Commodity Futures Trading Commission (CFTC) over “untrue or misleading” claims that its USDT stablecoin was fully backed by corresponding fiat currencies. Fast facts The CFTC said in a Friday statement that from at least June 1, 2016 to […]

Crypto trading platform Bakkt goes public

U.S.-based Bakkt, a cryptocurrency custodian and trading platform, went public Monday on the New York Stock Exchange after an announcement by Intercontinental Exchange, or ICE, which owns Bakkt and the NYSE. Fast facts Unlike its competitor Coinbase, which chose a direct listing on Nasdaq, Bakkt is going public by merging with a special-purpose acquisition company, […]

As regulators circle above, how should the DeFi industry respond?

Traditional finance evolved over centuries while DeFi is coming into its own in a few years, writes Adi Ben-Ari of Applied Blockchain. Are its risks inevitable?

BTC price nears all-time-high as futures ETFs near approval

The U.S. could see a long-awaited Bitcoin futures ETF trading on the New York Stock Exchange and the Nasdaq in the next few days. Forkast.News spoke with market watchers to find out what it means for the industry.

Crypto tax critical to Korean election: China crackdown continues

South Korean presidential hopefuls lean towards delaying crypto tax to impress younger voters.

Taking opulence online: How blockchain is beckoning luxury brands

As luxury brands eye the virtual realm, Zilliqa co-founder Max Kantelia looks forward to a convergence of desirable objects and digital opportunities.

SEC calls Ripple’s 30,000 legal requests in XRP lawsuit ‘abusive’ and ‘crushing’

But Ripple says its 5,000 pages of requests for admission to SEC are reasonable and could cut down on trial time.

E-CNY soft rollout continues as Beijing Capital Airport accepts CBDC payment

The soft rollout of the electronic Chinese yuan (e-CNY) continues across China in advance of its expected formal launch in time for the Beijing Winter Olympics in February. In the latest sign, Beijing Capital International Airport has become the first airport in the country to support payment by the central bank digital currency (CBDC), which […]

Ripple joins Digital Pound Foundation as it looks to expand its CBDC business

Ripple, a San Francisco-based blockchain payments company, has joined the Digital Pound Foundation, a non-profit organization supporting the implementation of a digital pound in the United Kingdom, according to a Ripple blog post. Fast facts As a foundation member, Ripple will be represented on the board by Susan Friedman, Ripple’s head of policy. Other foundation […]

East Asia falls from 1st to 4th place in share of global crypto transaction volume

East Asia’s share of global cryptocurrency transactions plunged to 14% in June 2021 from 31% in April 2019 when it was by far the world’s largest crypto economy, according to blockchain data provider Chainalysis’ 2021 Eastern Asia Report published today. Fast facts China’s crypto crackdown in May saw East Asia — with China the biggest […]

Public blockchain Nervos launches cross-chain ‘Force Bridge’ on mainnet

Nervos, a public blockchain backed by China Merchants Bank International and Sequoia China, today announced the mainnet launch of its cross-chain “Force Bridge,” according to a company statement shared with Forkast.News. Fast facts The Force Bridge enables cross-chain transactions between Nervos and Ethereum, with support for ETH and whitelisted ERC-20 tokens, including Dai (DAI), Tether […]

Why global regulations for stablecoins can help catalyze crypto adoption

In this special Q&A, industry leaders tell Forkast.News why global stablecoin regulations can help catalyze crypto adoption.

Australian Securities Exchange to launch crypto-related ETF

Hot on the heels of a similar exchange-traded fund being approved in the U.S., the Australian Securities Exchange is close to launching the “BetaShares Crypto Innovators ETF,” which will grant exposure to global companies working in the digital asset space, according to the Financial Review. Fast facts Using the ticker “CRYP,” the ETF aims to […]

Crypto lender Celsius bags US$400M despite regulatory heat

In spite of ongoing regulatory issues, cryptocurrency lender Celsius Network has raised US$400 million in an investment round pegging the valuation of the company at US$3 billion. Fast facts The funding was led by U.S. growth equity firm WestCap and Caisse de dépôt et placement du Québec (CDPQ), a global investment group.  Celsius will use the funds to […]

Bitcoin bulls set for stampede amid six-figure forecasts

Top blockchain and crypto news: Big money heads for Bitcoin. How fishy are Squid Game NFTs? China mothballs mining.

Coinbase and Binance move to diversify; Stablecoins under scrutiny

Coinbase and Binance move to diversify meanwhile Stablecoins under scrutiny

Squid game NFTs traded on Opensea; Bitcoin on a roll

Squid game NFTs traded on Opensea, also Bitcoin on a roll

Bitcoin price poised to retest all-time high

Crypto market watchers tell Forkast.News what’s behind Bitcoin’s latest resurgence and predict Bitcoin’s price heading into Q4 2021.

Postal Savings Bank of China tapped for development role in digital yuan payments

The Postal Savings Bank of China has become one of the appointed research and development institutions for the electronic Chinese yuan (e-CNY), allowing the bank to hold a first-mover advantage in the competition for position in China’s electronic payments market, its owner, the state-owned China Post Group, said in an article. Fast facts The bank […]

Stacks surges after NFT push; Samsung Next invests in Sky Mavis

Stacks surges after NFT push while Samsung Next invests in Sky Mavis

Altcoin Stacks STX price surges 70% as crypto market slumps

While most of the market was down around 5% coming into the Asia trading day this morning, altcoin Stacks was up over 70% in 24 hours on Sunday night, according to data from CoinMarketCap, hitting a high of US$2.45 — the highest point the token had reached since the market-wide crash in May. The price has fallen […]

A look at how global stablecoin regulations are evolving

As international regulators seek to implement oversight, crypto industry players say it is a positive sign that regulators are now considering including stablecoins in banking regulations.

Shenzhen has the most e-CNY pilot program uses, Chinese state-owned media says

According to a Shenzhen state-owned newspaper, Shenzhen now has nearly 120,000 e-CNY pilot program application scenarios, ranking first in the country. Fast facts In October last year, Hong Kong’s neighboring city, Shenzhen, became the first e-CNY pilot city, which rolled out the first batch of 50,000 e-CNY red packets with a total value of 10 […]

Cryptocurrency now on the table for Aussie homebuyers

Australians are now able to buy a house using cryptocurrency, as Lloyds Auctions Australia has announced it is accepting Bitcoin for purchases of real estate in online auctions, according to a press release shared with Forkast.News. Fast facts While Covid lockdowns impacted how in-person real estate auctions could take place in Australia, Lloyds began looking […]

Tether fires back; Easy Crypto closes Series A funding round

Tether fires back while Easy Crypto closes Series A funding round

SEC approves next best thing to a Bitcoin ETF in the U.S.

Editor’s Note On October 8, 2021, a Forkast.News article was published with the inaccurate SEO headline “Bitcoin Futures ETF Approved By SEC.” One of our readers rightfully identified this mistake. We have made the correction, and we apologize. Serving the community is our top priority, and Forkast.News would like to thank @scottmelker for bringing it […]

Tether lashes out at report that claims it is not 100% backed

Tether is facing another round of scrutiny as the world’s number one stablecoin responds to a damning Bloomberg report published yesterday that claimed — among other things — that Tether is not fully backed as the company claims and is using its reserves to make crypto-backed loans. Fast facts In the article, reporter Zeke Faux […]

Ukrainian president seeks revision of cryptocurrency bill

Ukrainian President Volodymyr Zelenskyy returned a cryptocurrency bill to Parliament for revision on Tuesday, demanding the National Securities and Stock Market Commission of Ukraine be designated the country’s main crypto regulator. Fast facts The crypto bill had passed the second parliamentary hearing on September 8. Had Zelenskyy signed the bill, it would have made the country the fifth […]

What Powell’s ‘No intention to ban’ means for crypto

  Jerome Powell’s remarks on Sept. 30 following his testimony about the financial hardships of the pandemic caught the attention of crypto enthusiasts. Taking questions from the House Committee on Financial Services, Chairman Powell said the Federal Reserve would not seek a ban on crypto but reiterated that stablecoins should be regulated.  Bitcoin jumped by […]

CoinSwitch Kuber becomes unicorn; Australians reminded over crypto tax

Coinswitch Kuber becomes unicorn meanwhile Australians reminded over crypto tax

Judge makes XRP holders ‘friends of court’ in SEC’s lawsuit against Ripple

A US court has denied XRP holders’ bid to join the SEC v. Ripple lawsuit as third-party defendants, but XRP advocates say being ‘amici curiae’ is still a win.

SHIB price surges, biggest gains since May

Outstripping the explosive growth of Dogecoin in the past week, copycat memecoin SHIB was up over 300% over the past four days this morning, briefly reaching a five-month high of US$0.00003436, according to CoinGecko. Fast facts Trading at US$0.00003079 at press time, this marks the second massive jump in the Shiba Inu coin’s price since […]

Crypto miners blamed for Kazakhstan’s power shortages; Bitcoin on the up

Kazakhstan blames its newly settled crypto miners for power shortages as South Korea’s largest exchange is accused of listing faulty tokens for profits.

Brazil seeks to make Bitcoin a legal ‘payment currency’

Brazil’s legislators are expected to discuss in the next few days a bill that seeks to establish a regulatory framework for cryptocurrencies, which may be a major step toward making Bitcoin a legal “payment currency” in the country if approved by the congress. Fast facts Bill 2.303/15, proposed by Federal Deputy Aureo Ribeiro, aims to […]

Bitcoin mining difficulty rose to the hardest since June

Bitcoin miners saw another mining difficulty adjustment on Tuesday, with an increase of 4.71%, according to data from BTC.com. Fast facts The mining difficulty level is now at 19.89 trillion at block height 703,584, reflecting the most difficult level since a previous adjustment on June 14, the data show. The latest increase follows five increases after four […]

Bitcoin price crosses $50K, but market dominance continues falling

This is the second time the world’s largest cryptocurrency has hit the mark in recent months. Does that mean this price point is here to stay?

U.S. Bank launches Bitcoin custody service as more banks enter crypto realm

U.S. Bank, the country’s fifth-largest retail bank, will now offer custody services for cryptocurrencies, starting with Bitcoin, the bank announced on Tuesday. New York Digital Investment Group, a fintech firm dedicated to Bitcoin, is the first crypto sub-custodian in the bank’s network of providers, the statement said. Fast facts The services are geared toward institutional […]

Global bodies propose regulatory standards and greater oversight for stablecoins

The Bank for International Settlements (BIS) Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) today published a joint report proposing that international standards for payment, clearing and settlement systems should be applied to “systemically important stablecoin arrangements.” Fast facts The BIS, CPMI and IOSCO report comes amid the […]

What are the biggest challenges for institutions that adopt crypto?

What does it mean to provide ‘institutional’ crypto services, and what role does blockchain technology play? Robert Cooper of Digivault explains.

Korea crypto tax pause called for; TikTok jumps into NFTs

Korea crypto tax pause called for meanwhile Tiktok jumps into NFTs

Petitioners oppose looming 20% crypto tax in South Korea

Crypto investors say virtual asset gains will be taxed on uneven grounds compared to stock capital gains.

What is Hong Kong’s future as a crypto hub?

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.

Bitcoin funds lead 7th consecutive week of inflows: CoinShares data

Bitcoin investment products saw inflows of US$69 million last week amid improving investor sentiment, according to digital assets fund manager CoinShares. Fast facts “We believe this decisive turnaround in sentiment is due to growing confidence in the asset class amongst investors and more accommodative statements from the U.S. Securities [and] Exchange Commission and the Federal […]

Laos hires Tokyo blockchain startup to explore CBDC

Laos enlisted Soramitsu, a blockchain company headquartered in Tokyo, Japan, to explore a central-bank backed digital currency (CBDC). The Lao Central Bank and Soramitsu’s research will begin as early as this month. Fast facts The Central Bank of Laos reportedly has recently signed a memorandum with the Japan International Cooperation Agency to discuss the development […]

Hong Kong issues technical white paper on e-HKD

The Hong Kong Monetary Authority (HKMA) on Monday released a white paper proposing potential technical architecture and design for the infrastructure of a digital Hong Kong dollar. The paper is one of the deliverables described in Project e-HKD, a feasibility study the HKMA announced in June 2021. Fast facts Hong Kong began its exploration of […]

e-CNY chat wallet launched; Korean illegal crypto transactions surge

China’s telecom giants to bring digital yuan transactions to mobile chatting boxes.

Why domestic and overseas Chinese should worry about China’s crypto ban

In a special Q&A, a Canadian law advisor who works with Chinese clients breaks down the ban’s potential legal boundaries and concerns held by overseas Chinese.

e-CNY wallet launched in China allows transfer via chat window

Chinese communications giant China Mobile and Industrial and Commercial Bank of China jointly released an e-CNY wallet based on the upgraded SMS service Message over 5G. The wallet allows users to transfer money, check balances, pay bills, and perform other functions through the chat window. Fast facts Message over 5G is an upgraded text message […]

Illegal foreign exchange transactions using crypto in South Korea break record, grow fortyfold

The country sees a rise in the amount of illegal currency transactions across the border while the use of virtual assets makes it almost impossible to track down.

What are stablecoins, and why are some governments so afraid of them?

Stablecoins combine the portability of crypto with the price stability of fiat currencies. But are they all that stable?

Tech selloff positions Bitcoin as an inflation hedge

Markets on Tuesday in the U.S. were unsettled by the prospect that energy crises in Europe and China could lift inflation to new highs, compelling central banks to reverse accommodations sooner than expected. US Treasuries reacted with a fierce rise in yields and that spilled over to the equity markets.  Although the markets drove down […]

September 2021

DeFi benefits from China ban; Gamevil increases Coinone stake

DeFi benefits from China ban while Gamevil increases Coinone stake

A crypto-trading hamster is outrunning Warren Buffett

Although scarcely the size of a human palm, Mr. Goxx is earning big returns in the virtual currency market, raking in a 16% return as of Tuesday.

dYdX price surges 80% in a week to all-time high

dYdX, the governance token for the dYdX exchange protocol, surged to a new all-time high of US$27.86 today, according to CoinGecko data. Fast facts dYdX is a decentralized exchange (DEX) built on Ethereum that currently supports perpetual contracts, margin trading and spot cryptocurrency trading, as well as lending and borrowing. It is a non-custodial exchange […]

Why China’s latest stomp on crypto is turbo-charging DeFi growth

DeFi tokens like dYdX soared after China’s latest move to throttle crypto. Is this a short-term spurt or decentralized finance shifting into high gear?

Who in the world should worry about China’s new crypto ban?

As Chinese authorities take aim at crypto violations outside mainland borders, Forkast.News asks lawyers in the know: Who is in China’s line of fire?

Ripple launches $250M fund for NFT creators to build on XRP Ledger

Ripple, a San Francisco-based blockchain payments company currently embroiled in litigation against the U.S. Securities and Exchange Commission, has launched a US$250 million “creator fund” for content creators, brands and marketplaces to build non-fungible token (NFT) use cases on the XRP Ledger, according to a company blog post. Fast facts Ripple’s latest move to expand […]

How China’s crypto clampdowns could reshape the rest of the world

Against the global tide of digital asset adoption, China’s harshest crypto ban yet heralds golden opportunities, writes Richard Byworth of EQONEX. Other governments should take note.

Unmade in China: Beijing’s crypto cold war turns hot

Top blockchain and cryptocurrency news: Beijing’s crypto crusade comes to a head. Chinese mining caves in. Mr. Goxx reaps robust returns.

BeePool, Tiger Brokers among the latest to respond to China’s crypto ban

China’s stepped-up cryptocurrency ban continues to send shockwaves through the industry, as more crypto service providers are shutting their doors to users in China. BeePool and Tiger Brokers are among the latest to announce service suspensions. Fast facts China-based BeePool, the fourth-largest Ethereum mining pool in hashrate, said Tuesday that it has stopped registering new […]

CBDC plans advance in Nigeria, Chile, Tajikistan

Nigeria, Chile and Tajikistan have taken major steps in their plans for central bank digital currencies (CBDCs), while mainland China, Hong Kong, Thailand and the United Arab Emirates explore the potential for CBDCs in cross-border payments. Fast facts The Central Bank of Nigeria (CBN) has launched a website for eNaira, the country’s CBDC, which will […]

China fallout hits mining; Korea digital custody competition heats up

China fallout hits mining meanwhile Korea digital custody competition heats up

How central banks are wielding blockchain in soft power competition

China’s crypto ban is part of a global battle over freedom and ideology, writes Michael B. Greenwald. How can the US lead the world in a different path?

The curious timing behind China’s thunder and lightning at crypto

China assaulted crypto with a new ferocity just as Bitcoin options expired and Evergrande escaped death. Coincidence? Ben Caselin of AAX lays out the clues.