Digital Assets

With winds in its legal sails, crypto is now poised to evolve into a complete economy with its own financial products and capital markets. The question is when.

The gates are opening for ordinary investors to buy into real-world assets like rare art and fancy real estate. But regulations and compliance hurdles remain.

How can we claim to own something that falls outside traditional categories of personal property? In this second installment in a 3-part series looking at the U.K. digital asset industry, Law Commissioner for England and Wales Sarah Green explains how.

Fractionalizing assets on-chain can greatly increase liquidity, security and market efficiency, writes Hamilton Keats. Here are the key trends and challenges.

Recently proposed by Singapore in collaboration with fintech heavy hitters, PBM can be a powerful tool for promoting accountability and efficiency, writes Anndy Lian. But it’s not without risks.

As the US is engulfed in regulatory strife, Asian countries are rolling out legal frameworks that attract crypto investment, protect consumers and encourage innovation.

Scrutiny on the stablecoin’s reserves has intensified since USDT’s latest depegging scare. Paolo Ardoino, CTO of Tether and Bitfinex, delves into the composition of USDT reserves, explaining how the firm ensures dollar redemptions, irrespective of secondary market prices.

Digital assets funds have been flowing in waves all over the world since crypto’s inception, writes Amy Yu, CEO of SEBA Bank. Where is crypto capital going now?

The Monetary Authority of Singapore (MAS), the city state’s central bank, has proposed a framework for designing open, interoperable networks for digital assets, developed jointly with the Bank for International Settlements and other financial institutions. 

The Monetary Authority of Singapore (MAS) released on Wednesday a whitepaper for “purpose bound” money, detailing a technical overview of digital currencies designed for specific purposes.

Leaders in Hong Kong’s Web3 industry announced the formation of two new associations, Hong Kong Licensed Virtual Assets Association (HKLVAA) and Web3 Harbour, on Monday.

The stock price boost for tech giant Nvidia on the back of an AI chip boom has sent AI-related cryptocurrencies on a surge.

A clear and balanced legal framework will encourage more crypto investment, while the industry can promote best practices, writes Mahin Gupta of Liminal.

PostFinance, a Swiss government-owned retail bank, has partnered with Sygnum Bank to provide crypto-related services.

From traditional finance to digital transformation – how can both learn from each other?

The digital era has made piracy rampant and copyright enforcement difficult, but blockchain technology is shifting power back to creators, writes Wes Levitt of Theta Labs.

NFTs have entered China’s Two Sessions, with a delegate to propose an NFT regulatory framework.

Jingtan, one of China’s major NFT marketplace, has relaxed its rules on NFT transfer between users.

DBS Digital Exchange (DDEx), one of Asia’s first bank-backed digital exchanges, has reported a year-on-year increase of 80% in Bitcoin traded in financial year 2022, while the number of Bitcoin custodized with the bank doubled from 2021. 

The United Arab Emirates plans to launch a central bank digital currency (CBDC), among other initiatives, to become a financial and digital payment hub.

CeDeFi offers the benefits of CeFi and DeFi without their shortcomings, writes Alexander Tkachenko of VNX. Here’s how it works.

Regulators should not legitimize “purely speculative” activity in crypto markets following the collapse of FTX, said Monetary Authority of Singapore Chairmen.

NFTs, tokenization and blockchain-based cross-border payments will see big paradigm shifts, but their success will depend on regulation, investment and adoption, writes Stephen Richardson of Fireblocks.

The U.S. House of Representatives has created a new congressional subcommittee focused on digital assets, as one of its first moves under the control of the Republican Party.

Hong Kong has passed a new licensing regime on for crypto exchanges that will subject providers to the same legislation and rules as traditional finance.

A Shanghai court ruled that investments in cryptocurrency-powered play-to-earn (P2E) games are not protected by law in China.

India’s current cryptocurrency tax structure “may lead to a loss of approximately US$1.2 trillion of local exchange trade volume in the next four years,” according to research by Esya Centre, a technology policy think tank in India.

In times of market volatility, regulation can restore confidence and public trust in crypto, writes Albert Isola, Gibraltar’s minister for digital and financial services.

Sales and value of NFTs sold has ticked up for the first time in seven months. Could this be a sign the NFT market is starting to mature?

KuCoin, a Seychelles-based cryptocurrency exchange, on Monday released its proof of reserves report issued by third-party auditor Mazars, which concluded that the exchange’s reserves of Bitcoin, Ether, USDT and USDC are overcollateralized.

Crypto is weathering this year’s extreme turbulence so far. But its long-term health will require the sector’s urgent attention to regulation, education and security, writes Oliver Linch, CEO of Bittrex Global.

Nigeria seeks to advance digital asset trading in the country but is drawing a distinction between digital assets and cryptocurrencies.

Investor confidence may be shaken, but crypto is here to stay, writes Alex Manson of Standard Chartered’s SC Ventures. Here’s how to restore trust and make the sector more resilient.

HashKey Capital Singapore, an investment arm of Hong Kong-based HashKey Group, said on Friday that it received an in-principle approval for the Capital Markets Services license from the Monetary Authority of Singapore (MAS).

The issuer of the world’s second-largest stablecoin is joining a fleet of companies in the digital asset industry moving into Singapore. What’s the attraction?

India’s central bank, the Reserve Bank of India (RBI), will pilot the country’s first digital rupee in the wholesale segment (e₹-W) from Nov. 1 and has identified nine banks for participation in the trial. 

Singapore-based Alta, a digital marketplace for alternative investments, has acquired private digital securities exchange Hg Exchange (HGX) for an undisclosed amount. 

When the Grim Reaper comes, will he take all your Bitcoins, too? Here’s how to ensure your crypto wealth will survive and live on for your heirs.

Lawmakers in the British Parliament’s lower house voted in favor of recognizing cryptocurrency assets as regulated financial instruments and products Tuesday.

India’s lack of regulatory clarity on crypto and Web 3.0 is a driving force of critical human capital flight, according to a new report by Nasscom.

In a Q&A with Forkast, First Digital Trust Chief Executive Officer Vincent Chok shared his views on Hong Kong getting back into crypto, regulations, and how the crypto pie in Asia is big enough for rivals Singapore and Hong Kong.

As India prepares to begin its one-year presidency of the Group of 20 (G20) beginning Dec. 1, it will look to work toward a global, tech-driven regulatory framework for cryptocurrency, India’s finance minister Nirmala Sitharaman said. See related article: India’s finance minister calls on G20 to share information on crypto Fast facts “During our engagements, […]

One company says it’s bringing solutions for confused investors in digital assets in India who grapple with hours of tax calculations.

Instagram and Facebook users in 100 countries can start sharing and crossposting their non-fungible tokens (NFTs) between the two platforms, Meta announced on Thursday.  See related article: China’s ‘Instagram’ gets into virtual fashion with users strutting NFT clothes Fast facts Meta, the operator of the two social media platforms, said the feature is available to […]

DBS Bank Ltd., Southeast Asia’s largest lender, has launched a self-directed cryptocurrency trading service for accredited wealth clients.  See related article: Asia banking giant DBS jumps into The Sandbox metaverse Fast facts The bank’s wealth clients have been favoring self-directed options, with digital trades dominating 90% of equity transactions, DBS said in a press release […]

The United Kingdom has introduced a bill that would enable its law enforcement agencies to “seize, freeze and recover” crypto assets, to prevent cyber crime and money laundering.  See related article: UK watchdog: Crypto firms fall short on anti-money laundering rules Fast facts The reforms to the governmental Companies House, including issues beyond crypto, are […]

Sam Bankman-Fried’s trading firm Alameda Research will repay around US$200 million in cryptocurrencies to bankrupt digital assets broker Voyager Digital by Sept. 30. See related article: Voyager Digital issues notice of default to 3AC Fast facts Alameda owes Voyager about 6,553 Bitcoins, more than 51,000 Ether and smaller amounts in various tokens including USDC, DOGE […]

The U.S. Department of Treasury is seeking public opinion on the “responsible development of digital assets” and has requested comments from the general public on national security and illicit financing risks posed by digital assets.  See related article: Singapore’s central bank says cryptocurrencies have ‘no fundamental value’ Fast facts Comments can be submitted until Nov. […]

The Fed will continue its CBDC research as Republicans pressure the central bank to clarify its stance on digital dollar issuance.

The Monetary Authority of Singapore (MAS) is preparing for the future of finance by exploring distributed ledger technology use cases, such as asset tokenization and cross-border payments, the city-state’s Deputy Prime Minister Lawrence Wong said on Thursday at an event organized by the central bank.  See related article:  Filecoin service provider RRMine leaves China for […]

SBI Digital Markets Pte. Ltd. (SBI DM) has received a Capital Markets Services (CMS) license from Singapore’s central bank, which allows it to provide custodial services and offer capital markets products. See related article: Singapore’s MAS says needs to do better job explaining crypto policy Fast facts SBI DM plans to launch a digital asset […]

APAC is leading in crypto use and adoption, according to a new report from U.S. blockchain analysis firm Chainalysis released on Wednesday, with China returning to the report’s top 10 countries for crypto adoption after it fell out of the list last year. APAC accounted for six of the top 10 countries in the index. […]

Diamond Standard Co. has raised US$30 million in a Series A funding round led by Left Lane Capital and Horizon Kinetics, the company announced in a statement.  See related article: De Beers to use Tracr blockchain to assure sourcing of diamonds Fast facts The blockchain startup allows institutional and retail investors to trade tokenized counterparts […]

Tokenized assets are expected to expand into a US$16 trillion business opportunity by 2030 — making up 10% of global GDP by the end of the decade — from US$310 billion in 2022. This is according to a new report by global consulting firm BCG and the digital exchange for private markets ADDX. See related […]

Amid an increased focus on cryptocurrency among global regulators and lawmakers, the U.S. Securities and Exchange Commission (SEC) is launching a new office dedicated to reviewing filings related to digital assets. See related article: MicroStrategy and Michael Saylor sued by District of Columbia for evading taxes Fast facts The SEC is adding the Office of […]

Maja Vujinovic joins us to talk about how digital assets can be implemented to increase financial inclusion across the world.

Saudi Arabia’s central bank has appointed Mohsen AlZahrani, a former managing director at consultancy firm Accenture, to head its virtual assets and central bank digital currency (CBDC) initiative, Bloomberg reported. See related article: Governments pushing for CBDCs smell blood in Terra Classic’s struggles Fast facts With the United Arab Emirates aiming to be a global […]

Cryptocurrency advertisements in Thailand must indicate potential risks of investing in the nascent asset class, the nation’s Securities and Exchange Commission (SEC) said in a statement on Thursday.   See related article: Singapore central bank warns against crypto marketing, promotion Fast facts Crypto businesses in the Southeast Asian nation must report all details of advertisements and […]

Hong Kong is hosting the Digital Asset Series (DAS) educational seminars, which started in August to continue into November this year. See related article: Why children around the world need crypto education Fast facts The free educational seminars will be delivered by industry experts, legal professionals, regulators and scholars from the finance-technology (fintech) sector, according […]

Excluding a few dozen tokens, most cryptocurrencies are bound to “go away,” according to Umar Farooq, Chief Executive Officer of JPMorgan’s blockchain unit. See related article: Singapore’s MAS says needs to do better job explaining crypto policy Fast facts “Most of crypto is still junk,” he said at the Monetary Authority of Singapore’s Green Shoots […]

The city-state hosted a seminar with a title that it hopes sums up its crypto approach: “Yes to digital asset innovation, No to cryptocurrency speculation.”

Thailand’s central bank will receive more power as the South-East Asian nation steps up regulation of digital assets, said Thai Finance Minister Arkhom Termpittayapaisith. See related article: Thailand bans Bitcoin and crypto payments Fast facts Thailand plans to tighten its supervision of platforms and exchanges that offer trading in cryptocurrencies and other digital assets, Bloomberg […]

Singapore is growing its digital assets industry while reducing risks, and its clear regulations allow firms to better plan for the future, writes Desmond Yong of DTC.

An Indian firm providing crypto tax calculation services is introducing a software as a service (SAAS)-based solution to tackle India’s myriad crypto taxation regime. See related article: India’s latest tax assault on crypto exchanges starts Friday Fast facts SAAS-based TaxCryp software aims to simplify tax computation, compliance and reporting requirements, India-based TaxCryp Technologies said on […]

A stolen painting may be lost forever, but a fraudulent Bitcoin transaction — with these legal strategies and tracing tools — can lead right to the criminal.

Dubai police are dropping a second round of non-fungible tokens (NFTs), as digital assets conform to their interests in innovation, security and communication. In a statement on their website, Dubai police claim to be the first government entity in the United Arab Emirates (UAE) to create its own digital assets and the first police organization […]

Despite the bleak macro outlook, more institutions are looking to gain exposure to the DeFi sector, writes Robert Alcorn of Clearpool. Here’s why.

Digital assets are powering new industries, and DeFi will be the financial system of the future internet economy, writes Alex Tapscott in his new book, ‘Digital Asset Revolution.’

The ‘Merge’ will have a major impact on the Ethereum ecosystem and beyond, and getting it right is more important than speed, writes Kevin Loo of IDEG.

Celsius and Babel Finance’s freezing of customer accounts highlights the risks of intermediaries, writes Nick Saponaro. Crypto users should take back control.

The downturn is forcing Web3 firms into a reset — and opening opportunities for Web2 entrepreneurs to enter the playing field, writes Lily Z. King of Cobo.

In its urgency to reign in the cryptocurrency industry in the wake of the Terra collapse, South Korea will launch a “Digital Asset Committee” by the end of June, according to a local news report. See related article: South Korean authorities cite LUNA debacle to call for speedier crypto oversight  Fast facts The committee will […]