South Korean megacorporation SK Group’s information technology-investment arm, SK Square, is preparing to launch a cryptocurrency this year to build a blockchain-based virtual economy that would link its group of information and communications technology (ICT) businesses. See related article: South Korea wants to be the physical home of the metaverse Fast facts SK Square established […]
Top blockchain and crypto news: Bitcoin buzz in Malaysia. Yuga Labs teases Otherside. Blockchain verdict in China.
Blockchain gaming unicorn Animoca Brands co-founder and executive chairman Yat Siu said Web 3.0 needs rapid adoption in order to become more decentralized at Australia Blockchain Week in Melbourne on Wednesday. See related article: FTX heads Down Under as Australia looks to crypto industry Fast facts “If people don’t move into the space quickly enough, […]
China’s state-backed Blockchain-based Service Network (BSN) has announced the addition of “Zhong Yi Chain,” developed by telecommunications giant China Mobile, to its open permissioned blockchain ecosystem to bolster the growth of home-grown non-fungible tokens (NFTs). See related article: BSN to integrate CasperLabs’ chain to support NFT issuance in China Fast facts The new chain serves […]
A Malaysian minister has proposed making Bitcoin a legal tender. Meanwhile in Hong Kong, an 11-year-old programmer makes his way into the NFT business.
Inspired by the success of Beeple, Miguel Wang created CryptoTigers to generate pixelated tiger images for the Year of the Tiger.
Sichuan and Inner Mongolia are two regions that recently announced their first cases using blockchain-stored evidence, local media reports. See related article: How blockchain technology is shaking up courtrooms in Asia Fast facts See related article: Court in China says trading in cryptocurrency ‘not protected by law’
In a move that may adversely impact crypto adoption in the country, India’s government said its pending tax law for virtual digital assets will not allow offsetting gains on one crypto with losses from another. See related article: India may impose 28% GST on crypto transactions Fast facts India’s government plans to collect a 30% […]
The Korea Forest Service is starting a tree-planting campaign in the metaverse in conjunction with fintech company Dunamu — for every tree planted in the metaverse, it will plant two trees in the fire-affected mountain forest of Andong. See related article: South Korea places $185M bet on the metaverse Fast facts An event is planned […]
South Korea prepares for the imposition of FATF travel rule heat up. Meanwhile in Australia, reforms are set to be introduced for the crypto sector.
Bahamas-based crypto exchange FTX announced the establishment of an Australian branch on Monday Asia time as part of the company’s global expansion plans. See related article: New crypto regulation — including tax reform — coming to Australia Fast facts FTX Australia will be headquartered in the nation’s financial capital Sydney and will be fully licensed […]
Australian senator Andrew Bragg called for “urgent” regulation of decentralized autonomous organizations (DAOs) under the nation’s Corporations Act as part of his Digital Services Act proposal at Blockchain Week Australia on Monday. See related article: New crypto regulation — including tax reform — coming to Australia Fast facts DAOs can replace companies and are therefore […]
Financial Action Task Force (FATF) travel rule compliance service providers VerifyVASP and CODE have signed a memorandum of understanding to link their services before the rule goes into full effect in South Korea this Friday. See related article: South Korean crypto businesses scramble to meet FATF travel rule Fast facts The two entities are backed […]
The Indian government is working to determine whether cryptocurrencies can be classified as goods or services, which can impose a different taxation scheme on digital assets, local media reported. See related article: India’s crypto tax will incur losses for government, says WazirX CEO Fast facts Government officials believe crypto trading is similar to gambling and […]
Sweeping reforms are coming to Australia’s crypto sector, including a new tax system, additional protections for investors, and regulation for crypto exchanges and brokers. See related article: Australia on track for a crypto boom by 2030, EY report says Fast facts The Australian government will release documents relating to the regulation on Monday as it […]
As the conflict between Russia and Ukraine rages on and sanctions continue to mount, Russia-based bank Sberbank obtains a crypto license from the Central Bank of Russia. Meanwhile in China, social media platform Weibo allows its users to mint NFTs of their social media posts.
Capital control limiting outflows may be less of an issue in the future with e-CNY being a ‘controllable currency,’ experts say.
Weibo, a social media platform known as the Chinese equivalent of Twitter with 249 million daily active users, launched its non-fungible token (NFT) marketplace TopHolder on Thursday, allowing users to mint their original posts into NFTs and sell them. See related article: Zuckerberg confirms NFTs coming to Instagram Fast facts Users will need to pass […]
South Korean financial institution Shinhan Financial Group’s credit card subsidiary announced Friday that all of its employees are headed to the Gather.town metaverse for training on data usage in business operations. See related article: S. Korean, S. African banks team up for stablecoin-based remittances Fast facts Shinhan Card employees will complete missions on the metaverse […]
Tokyo-based mobile financial platform Kyash has raised US$41.2 million (about 4.9 billion yen) in its Series D funding joined by Jack Dorsey’s Block. See related article: After Facebook’s name change to Meta, Square has now become Block Fast facts Kyash has accumulated a total funding of about US$107.7 million since its launch in 2015, which […]
Ukrainian President signs a digital assets bill into law. Meanwhile in China, Cannan plans to buy back shares.
South Korean digital asset experts gathered at the National Assembly on Thursday to discuss president-elect Yoon Suk-yeol’s crypto campaign promises, which included his plan to bring back initial coin offerings (ICOs). See related article: A crypto bull wins the presidency: What it means for South Korea Fast facts The head of crypto exchange Upbit’s investor […]
Chinese crypto mining rig maker Canaan announced Wednesday its plans to buy back up to US$100 million worth of shares over the next two years. See related article: Chinese mining rig maker Canaan secures purchase order from Genesis for 30K units Fast facts The Nasdaq-listed company’s latest move comes after it completed its previous US$20 […]
Crypto’s growing popularity is also leading to more fraud and abuses, writes Ronald Molenaar of ADVANCE.AI. What can be done to better protect users?
There is more to transitioning to renewable energy than one might expect, and in Australia, one Bitcoin mining company says the industry can play a role.
Chinese authorities cracked down on crypto related crimes on Consumer Rights Day. Meanwhile in Kazakhstan, the former President’s brother was busted for illegal crypto mining operations.
No more Burger King, Nike and Muji. This year’s annual focus on marketplace abuse names and shames crypto scams.
China’s Blockchain-based Service Network (BSN) has announced a partnership with U.K. tech firm INDUSTRIA, as the state-backed blockchain infrastructure looks to make a foray into the European market. See related article: BSN to integrate CasperLabs’ chain to support NFT issuance in China Fast facts The partnership marks BSN’s first attempt to enter the U.K. and […]
Crypto exchange Binance has won a license to operate in Bahrain. Meanwhile in Southeast Asia, Singapore’s Monetary Authority has designated Russian banks amid growing sanctions.
One in three gamers among 1,103 respondents are willing to quit or will consider resigning from their professional positions to play non-fungible token (NFT) games full time, according to a survey conducted by NFT gaming platform Balthazar. See related article: Top NFT game Axie Infinity generated $1.3B in revenue last year Fast facts Among the […]
MangoTV, a Chinese video streaming platform with 50.4 million subscribers, launched its non-fungible token (NFT) marketplace on Monday, as its first batch of collectibles sold out within seconds since opening. See related article: China plans crackdown on illegal fundraising in metaverse, NFTs Fast facts MangoTV is owned by the state-backed Hunan Broadcasting System and is the […]
The Monetary Authority of Singapore (MAS) has imposed financial measures targeting designated Russian banks, entities and activities in Russia, and fundraising activities benefiting the Russian government, in response to Russia’s invasion of Ukraine. See related article: Singapore prohibits crypto, NFT transactions in sanctions against Russia Fast facts An MAS notice named the designated banks as […]
LG Household & Health Care is minting 3,000 non-fungible tokens (NFTs) on OpenSea to promote its beauty brand Belif with plans to further expand linkage with the metaverse. See related article: TV home shopping in South Korea moves to the metaverse Fast facts LG’s Klaytn blockchain-based NFT collection consists of 12 characters from the Belif […]
Ripple, a blockchain-based digital payment network, has made a proposal for South Korea to make clear distinctions in cryptocurrencies between payment tokens, utility tokens, and security tokens, in a policy paper released on Tuesday. Read related article: Amid SEC lawsuit, Ripple buys back stock and raises value to US$15B Fast facts Ripple’s policy paper says […]
Singapore’s image as a “crypto hub” may soon change as the country doubles-down on it’s stance that crypto currency is “not suitable for the general public”. Meanwhile, Korean convenience store giants CU launch their White Day NFT competition.
Japan’s Financial Services Agency and Ministry of Finance jointly announced penalties on crypto exchanges that do not comply with sanctions on Russia following its invasion of Ukraine, following G7 vows to tighten crypto sanctions. See related article: Russians turn to crypto as Western sanctions hit the ruble Fast facts See related article: Russia faces crypto […]
The Lion City has been the place to be for crypto firms, but retail activity is slowing down while the central bank continues to build a haven for institutional investors.
South Korean convenience store CU’s non-fungible token (NFT) collectibles airdrop event for White Day, a local romantic holiday, drew in more than 20,000 applications. Read related article: Samsung-backed university to issue NFTs to select graduates Fast facts March 14 is celebrated as White Day in Japan and Korea, where men return the favor to women […]
Income from non-fungible tokens (NFTs) in Singapore will be subject to existing income tax rules, the Business Times reported, citing Singapore Finance Minister Lawrence Wong’s Friday speech in parliament. See related article: Singapore prohibits crypto, NFT transactions in sanctions against Russia Fast facts However, individuals who receive capital gains from NFT transactions will not be […]
Blockchain data analysis platform Chainalysis has launched a set of free sanction screening tools. Meanwhile, lawmakers in the US take aim at China’s digital yuan, or e-CNY, while Russian sanctions begin to highlight issues with financial sovereignty as hundreds of thousands of Russian and Ukrainian civilians are caught in the financial crossfire.
ICOs, revamped taxation, and investor protection reverse a past crypto reluctance under the incoming administration.
An anonymous company based in Hangzhou told state media that it has signed deals with major commercial banks to facilitate the digital yuan, hinting China’s southeastern city could be a winning bidder for an upcoming batch of digital yuan pilot programs. See related article: PBOC branch chief seeks clarity on digital yuan as legal tender […]
Nine U.S. senators are backing a bill that aims to crack down on China’s central bank digital currency (CBDC), the e-CNY or digital yuan, which they claim could allow Russia to bypass financial sanctions imposed on its banks and entities. See related article: Digital yuan pilot attracts Chinese province bordering Russia Fast facts “If left […]
As the Russia-Ukraine conflict rages on, the European Union says that crypto is included in the sanctions against Russia and Belarus. Meanwhile, South Korean President-Elect Yoon Suk-Yeol’s term in office could bring about long awaited changes in the crypto sector.
Baidu is airdropping over 20,000 non-fungible tokens (NFTs) of nostalgic Chinese cartoon characters ahead of its upcoming marketplace launch by the end of March. See related article: Tencent calls dibs on metaverse virtual concerts in patent application Fast facts See related article: Alibaba NFT marketplace suspends users for massage gun rapid clicks
ICON surged more than 60% in less than half a day as South Korea’s incoming president Yoon Suk-yeol won election on Thursday morning. See related article: Crypto investors are being wooed in South Korea’s tight presidential election Fast facts In a startup forum last December, Yoon minted his signature as a non-fungible token (NFT) on […]
India’s plans for a 1% tax deducted at source (TDS) on every crypto transaction will result in huge losses for the government, Indian crypto exchange WazirX founder Nischal Shetty said on Wednesday. See related article: Indians see future in crypto, government sees revenue, FM says Fast facts Shetty argued more revenue is to be expected […]
Top blockchain and crypto news: Moscow faces crypto winter. DeFi doyen quits Fantom. China mulls metaverse moves.
Alibaba’s non-fungible token (NFT) marketplace Jingtan issued one-year suspensions to more than 680 accounts for using computer programs and massage guns to make instant purchases as soon as items hit the market. See related article: Ant Group’s NFT arm punishes users for digital collectible resales Fast facts See related article: Why Asia is poised to […]
Thailand crypto investor tax burdens are being relaxed from April 2022 until the end of 2023, according to the results of a finance ministry cabinet meeting on Tuesday. See related article: Thailand to regulate cryptocurrency as payment method Fast facts The cabinet approved tax relief measures, including the exemption of a 7% value-added tax (VAT) […]
Local authorities have seized 1,106 mining rigs from two cities in China’s southeastern province of Guangdong. See related article: China customs seizes 49 second-hand crypto mining rigs for export Fast facts The Guangdong Provincial Development and Reform Commission announced on Tuesday that it had uncovered a mining farm in Guangzhou disguised as electric vehicle (EV) […]
Indian finance minister Nirmala Sitharaman said on Tuesday the government will discuss its position on cryptocurrencies after completing an ongoing consultation process. See related article: India government, central bank in ‘complete harmony’ on crypto: FM Fast facts Sitharaman said many Indians see a future in cryptocurrencies and the government sees opportunities for revenue in the […]
The two leading candidates to become South Korea’s next president entered the metaverse to answer questions from avatars believed to be controlled by voters in their 20s and 30s. See related article: S.Korean presidential candidate issues over 22,000 NFTs Fast facts Ruling Democratic Party candidate Lee Jae-myung and opposing conservative People’s Power Party candidate Yoon […]
US crypto exchange Coinbase has blacklisted 25,000 Russian wallet address in response to the ongoing Russian-Ukraine conflict. Meanwhile in Asia, English-language newspaper South China Morning Post announces the launch of its metaverse experience.
CoinDCX has partnered with the Birla Institute of Technology & Science Pilani for crypto research, development and innovation among students, the crypto exchange said in a statement on Tuesday. See related article: India’s blockchain courses ramp up to meet demand for learning Fast facts Over 100 students are expected to be trained in blockchain technology […]
The South China Morning Post (SCMP) has announced the launch of Hong Kong’s landmark Star Ferry Pier in The Sandbox metaverse, where visitors can experience historic moments through in-game quests. See related article: Covid shuts cinema but Hong Kong gets backup from the metaverse Fast facts The Star Ferry Pier in The Sandbox presents Hong […]
China Supreme People’s Procuratorate warned of “severe punishment” for financial crimes such as illegal fundraising and money laundering in a work report released on Tuesday. See related article: ‘Metaverse’ enters government radar at China’s Two Sessions Fast facts China’s highest procuratorate has taken note of rising financial crimes deemed illegal fundraising, disguised as metaverse, non-fungible […]
As China’s Two Session’s meetings begin, ‘Metaverse’ enters the Chinese government’s radar. And while the invasion of Ukraine continues, Singapore announces new sanctions on Russia.
Regulation is urgently needed to govern data security and curb speculation as the metaverse industry develops, delegates say.
The conservative candidate for South Korea’s March 9 presidential election, Yoon Suk-yeol, issued non-fungible tokens (NFTs) featuring images and videos of himself on Monday in an attempt to sway younger voters at the final stages of his campaign. See related article: Crypto investors are being wooed in South Korea’s tight presidential election Fast facts Yoon […]
The Monetary Authority of Singapore (MAS) has prohibited transactions involving digital assets such as cryptocurrencies and non-fungible tokens (NFTs) in its sanctions against Russian banks and entities, the central bank said in a statement. See related article: USDT-RUB volume outpaces Bitcoin pair as Russia sanctions pile Fast facts Following Russia’s invasion of Ukraine, MAS will […]
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.
Hong Kong-based film production company National Arts Entertainment Group announced it is building a simulation of the Xiqiao Shan filmmaking studio in the metaverse while cinemas remain shut due to local Covid restrictions. See related article: Who are the biggest players in the metaverse today? Fast facts Xiqiao Shan filmmaking studio is known for its […]
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 […]
Australia estimates at least three million Aussies, or 11% of its people, own some form of crypto asset, according to a government-backed report published on Wednesday. See related article: Australia announces biggest overhaul to payments in 25 years — eyes now set on crypto Fast facts Crypto has been on Australia’s radar, with the Senate […]
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?
Look for progress reports on e-CNY, blockchain technology, new digital infrastructure, and subtle mentions of the international sanctions against Russia.
Recruiters from the public and private sectors are on the hunt for top blockchain talent. Educational institutions are catching up with customized courses.
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 […]
Nomura Holdings will restructure its Future Innovation Company into a newly established company to leverage the rise of digital assets, effective April 1. Fast facts See related article: IBM, Nomura to use blockchain for plastics recycling in new consortium The Japanese financial services giant revealed in a statement its plans to expand its private markets […]
Chinese tech giant Tencent is applying for a virtual concerts patent, as conglomerates race for the first-mover advantage in the metaverse industry, business tracker Qichacha’s data shows. See related article: 16,000 metaverse trademark applications filed, unlikely to pass in China Fast facts The Shenzhen-based social and gaming giant’s patent application involves a computing approach and […]