Government

Bitcoin recaptured the US$26,000 mark today, while Solana fell to a six-week low. BNB was the biggest gainer in the top 10, despite allegations against Binance resurfacing.

The U.S. SEC could call for South Korea’s cooperation in questioning Daniel Shin, co-founder of Terraform Labs.

Welcome to Forkast IQ, presented by Angie Lau, where we look beyond the headlines to get you insights that power smarter decisions. Coming up on today’s show:

Macroeconomic factors hit investor sentiment while a U.S. judge’s consent to SEC over its ongoing tussle with Ripple Labs affects crypto prices.

Judge Analisa Torres has granted the U.S. Securities and Exchange Commission (SEC) the request to file an interlocutory appeal in its lawsuit against Ripple Labs.

Top blockchain and crypto news: Singapore steps up stablecoin rules. DeGods decline. Hong Kong’s third crypto license.

Coinbase, the largest cryptocurrency exchange in the U.S., has obtained regulatory approval to offer crypto futures trading services to eligible clients

Binance will shut down its cryptocurrency payment service Binance Connect on Aug. 16, a Binance spokesperson confirmed. 

The Monetary Authority of Singapore unveiled a stablecoin regulatory framework on Tuesday as the city-state aims to become a global hub for the crypto industry.

Most countries allow only government to mint currency, but in the land of public-private partnerships, legal tender HKD notes are issued by private banks.

Bitcoin briefly rose above US$30,000 twice this week, but failed to remain the support level despite positive catalysts in the industry like the launch of PayPal’s new stablecoin. Bitcoin will have to close the week above US$29,300 for upward momentum, industry experts told Forkast.

Welcome to Forkast IQ, presented by Angie Lau, where we look beyond the headlines to get you insights that power smarter decisions. Coming up on today’s show:

Bitcoin and Ether fell during Friday afternoon trading in Hong Kong, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization. Despite its recent crab walk, Bitcoin is in a “bullish scenario” as long as it holds US$27,500, industry experts told Forkast.

SEC seeks to appeal a court ruling in July that the programmatic sale of Ripple’s XRP cryptocurrency did not qualify as sales of financial securities.

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.

Bitcoin and Ether fell during Thursday afternoon trading in Hong Kong, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization. With a lack of positive news catalysts, Bitcoin could fall to the US$28,500 support level, but US$27,500 is also on the table, industry experts told Forkast.

Moves by big financial institutions into digital assets are worrisome to crypto purists, but it could be just what crypto needs to shake off its doldrums, writes Konstantin Horejsi of Blocktrade.

Litecoin lost the most in the past 24 hours, followed by XRP, while Tron led gains.

HashKey Exchange and OSL — the only two cryptocurrency exchanges licensed by the Hong Kong SFC — received license upgrades Thursday to service retail investors.

Bitcoin and Ether slipped during Thursday afternoon trading in Hong Kong, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization. Litecoin led the losers in the top 10, despite successfully completing its third quadrennial halving event yesterday.

Bitcoin was the day’s biggest gainer, rising 2.11% in the past 24 hours. Ether rose 1.11%.

Bitcoin and Ether slipped during Monday afternoon trading in Hong Kong along with all other top 10 non-stablecoin cryptocurrencies by market capitalization, except the BNB token, with crypto markets poised for an uneventful month ahead, industry experts told Forkast.

Bitcoin fell below US$30,000 this week, as market optimism over ETFs began to ebb. Bitcoin has to hold above US$28,000 next week to avoid further bearish momentum, industry experts told Forkast.

Bitcoin and Ether slipped during Thursday afternoon trading in Hong Kong, while all other top 10 non-stablecoin cryptocurrencies by market capitalization rose, except Dogecoin.

Bitcoin and Ether slipped during Wednesday afternoon trading in Hong Kong, while most other top 10 non-stablecoin cryptocurrencies by market capitalization rose, led by Dogecoin.

Bitcoin will have to remain above US$29,500 to prevent further bearish momentum, industry experts told Forkast.

The SEC has hinted it may be set to appeal a recent court ruling against the agency in its case against Ripple Labs and the XRP token.

Bitcoin fell under US$30,000, despite the SEC accepting eight spot Bitcoin ETF applications for review this week. A weekly close under that psychological level could lead to more panic selling, industry experts told Forkast.

Bitcoin and Ether rose during Wednesday afternoon trading in Hong Kong, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization.

Bitcoin and Ether both fell below key price levels earlier but returned above as investors remained optimistic after the U.S. Securities and Exchange Commission (SEC) accepted the second Bitcoin exchange-traded fund (ETF) application for review, from asset manager Valkyrie.

The Financial Stability Board (FSB) published on Monday a global regulatory framework for crypto-asset activities to provide a global regulatory and supervisory foundation for crypto. The recommendations made to the G20 – the 20 leading economies of the world – are based upon the principle of “same activity, same risk, same regulation.”

XRP continued its rally after XRP issuer Ripple’s favorable ruling last week in its lawsuit with the U.S. Securities and Exchange Commission (SEC).

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

Bitcoin rose to US$31,736 on Friday, bolstering Ethereum to above US$2,000, after the court ruled that the sale of XRP did not constitute a security. Bitcoin needs a close above US$31,000 to pave the way for US$32,500, market experts told Forkast.

In a long-awaited decision, the U.S. court ruled in favor of Ripple Labs in its case against the Securities and Exchange Commission, providing a boost to most cryptocurrency prices. But industry participants remain wary.

Judge Analisa Torres ruled on Thursday that Ripple Labs’ programmatic sales of the XRP cryptocurrency did not qualify as the offer and sale of investment contracts.

Bitcoin prices fell below US$30,500 in the past 24 hours while its trading volume has gained over 20%. Ether also fell. Cardano and BNB were the day’s biggest losers.

Bitcoin trade volumes dropped in the last 24 hours but the token is holding steady above US$30,500. Binance’s BNB token posted the biggest gain while most other top 10 cryptocurrencies traded mixed.

All top 10 cryptocurrencies, including Bitcoin and Ether, drop over the last 24 hours while investors brace for more interest rate hikes in the U.S.

Welcome to Forkast IQ, presented by Angie Lau, where we look beyond the headlines to get you insights that power smarter decisions. Coming up on today’s show:

Bitcoin held above US$30,000 for most of the week but lost momentum as the SEC left investors guessing on how it will treat spot Bitcoin ETF applications.

Crypto buying subsided as the U.S. regulator made no official comment on Bitcoin exchange-traded fund (ETF) applications and executives quit Binance, the world’s largest crypto exchange.

Southeast Asia steps up regulation. No end in sight for NFT market decline. Voyager’s shrinking portfolio.

Australian Securities and Investments Commission (ASIC), the country’s financial services regulator, searched the local offices of Binance on Tuesday as part of an ongoing investigation of the exchange’s derivatives business, a Bloomberg report said.

Bitcoin and Ether fell during Wednesday afternoon trading in Hong Kong but remained above key price levels, while most of the top altcoins were in the red.

Bitcoin and Ether fell during Tuesday afternoon trading in Hong Kong, while most of the top 10 non-stablecoin cryptocurrencies by market capitalization were mixed.

Cryptocurrency service providers in Singapore will have to keep customer assets under a statutory trust before the end of the year, for safekeeping purposes, the city state’s central bank announced Monday.

The U.S. Securities and Exchange Commission (SEC) said the recent series of spot Bitcoin exchange-traded fund (ETF) applications by asset managers were inadequate and not sufficiently clear, according to a report by Wall Street Journal on Friday. 

Bitcoin briefly rose to US$31,195 after Fidelity filed its spot Bitcoin ETF application. Can the wave of institutional interest keep Bitcoin above US$30,500?

Ripple Labs’ Asia-Pacific branch is offering digital payment services in Singapore after receiving in-principle approval of its license application from the MAS on June 22. What does that mean for the company’s Asia business?

Cyptocurrency investor sentiment continues to improve with Litecoin posting strong gains as its halving event in August gets closer.

The Blockchain Association said the U.S. SEC chair Gary Gensler should remove himself from enforcing rules on the crypto sector.

Top blockchain and crypto news: Fidelity Investment is reportedly close to filing its own Bitcoin ETF. NFT traders seek liquidity. Singapore eyes asset tokenization.

Despite a slight dip in crypto prices, positive investor sentiment persists, buoyed by the potential of Bitcoin ETFs, rising institutional adoption, and recovery from regulatory concerns.

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. 

Bitcoin Cash, the spin-off of the world’s largest cryptocurrency, gained over 108% in the last seven days as investors hope the altcoin receives the same categorization as Bitcoin.

Bitcoin slipped in directionless trading while Ether retreated, but both held gains for the past seven days. Most other top 10 tokens lost ground, led by Solana, while Tron was in the green as markets entered the last trading week of June.

New York-headquartered investment bank JPMorgan Chase & Co. has launched euro-denominated transactions on its blockchain-based payment system, JPM Coin, Bloomberg reported on Friday. 

As Ripple receives an in-principle approval for Singapore’s digital payment license, institutional investors continue to look toward Bitcoin ETFs.

Top blockchain and crypto news: Wall Street backs new crypto exchange. NFT traders remain cautious. Alibaba’s incoming chairman is a crypto fan.

The Asia-Pacific arm of San Francisco-based technology firm Ripple Labs saidThursday it received in-principle approval to start offering digital payment services in Singapore.

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.

The relationship between Hong Kong and crypto will likely only grow stronger over time, as it’s based on mutual respect as well as need, writes Lily King.

New York-based asset manager WisdomTree has submitted a new application for a spot Bitcoin exchange-traded fund in the U.S., less than a week after BlackRock filed its application for a similar spot Bitcoin ETF.

EDX Markets, a cryptocurrency exchange with backing from major Wall Street players such as Citadel Securities, Fidelity and Charles Schwab, officially launched on Tuesday.

Bitcoin and Ether rose during Monday afternoon trading hours in Hong Kong, while most of the top 10 non-stablecoin cryptocurrencies by market capitalization declined. Risk appetite remained low after the U.S. Securities and Exchange Commission (SEC) sued Binance and Coinbase two weeks ago.

As the US grapples with crypto regulation, Hong Kong and Dubai are emerging as leaders in the global digital economy, writes Ben Caselin of MaskEX.

Independent Reserve may have a new Hong Kong office in the “next few months,” the Singapore chief of the Australian crypto exchange said in an exclusive interview. Focusing on institutional clientele, the exchange aims to double trade volumes and expand its user base this year.

Bitcoin dipped below US$25,000 for the first time in three months, as the SEC’s lawsuits continued to erode crypto investor appetite. Bitcoin needs to hold above US$24,000 to avoid more bearish momentum, industry experts told Forkast.

In this week’s Forkast IQ with Megha Chaddah, we dive into the U.S. SEC’s crypto crackdown and the state of the East Asian metaverses.

Bitcoin, Ether and most top 10 non-stablecoin cryptos rose in Friday afternoon trading in Asia after weeklong slump.

The ETF, if approved, would be the first publicly traded crypto product of its kind in the U.S., but the SEC just sued crypto exchanges for alleged securities violations and has rejected similar ETF applications in the past.