Asia-Pacific

Bitcoin rises past US$26,500. All other top 10 cryptos gain, except BNB.

Top blockchain and crypto news: Binance.US undergoes staffing shakeup. Ethereum NFTs at risk. India to take a stand on crypto.

Japan-based Astar Network announced Wednesday that it is launching its zkEVM solution powered by Polygon’s Chain Developer Kit.

Hong Kong-based cryptocurrency exchange CoinEx Global suffered a security breach on Tuesday, resulting in an estimated loss of US$43 million in cryptocurrencies.

Zodia Custody owned by Standard Chartered, announced Tuesday that it is launching its services in Singapore for financial institutions.

Oasys, a blockchain-based game development platform, will team up with non-fungible token (NFT) marketplace αU market and cryptocurrency wallet αU Wallet – a crypto wallet by KDDI, one of Japan’s top three telecom companies – for users to trade NFTs on the αU market. See related article: Weekly Market Wrap: ETF developments bolsters Bitcoin above […]

Bitcoin started the week below US$26,000 while Ether dropped to US$1,611. Toncoin and XRP lead losers in the last 24 hours.

The annual Korea Blockchain Week conference in Seoul is running from Sept. 4 to 10. Crypto industry leaders and advocates from around the world have gathered in the South Korean capital to discuss all things blockchain, including the growing regulatory gap between the U.S. and Asia.

In the second installment of Forkast’s ‘Crypto in Sport’ series we head to the land of the rising sun, where J1 League football club Avispa Fukuoka have incorporated a first-of-its-kind DAO into their operations. Can the DAO provide a model for the rest of the sports world to follow? Can it change the way fans engage with their clubs?

As the 2023 G20 Summit is set to kickoff over the weekend, we take a closer look at India’s role in kicking off its crypto regulation agenda.

North Korea-backed Lazarus Group was behind the US$41 million hack of online crypto gambling platform Stake.com on Monday, FBI says.

Top blockchain and crypto news: Coinbase steps up to fill void of crypto lenders. NFTs extend losses. What’s next for crypto as Singapore gets a new president?

Mitsubishi UFJ Trust and Banking Corporation and Web3 developer Ginco Inc. have partnered to introduce what they call Japan’s first “crypto asset trust.”

KEB Hana Bank, one of South Korea’s largest financial institutions, will offer digital asset custody services from the latter half of 2024.

With nine months under its G20 presidency belt, India’s approach to cryptocurrency governance remains static. Amid regulatory ambiguity, the nation’s crypto industry struggles to cope with stringent tax rules.

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

Bitcoin, Ether and other cryptos dropped on Friday afternoon in Asia. Toncoin and Tron gained.

Top blockchain and crypto news: U.S. court compels SEC to review Grayscale’s ETF application. SEC zooms in on NFTs. Asia’s richest man eyes blockchain, CBDCs

Bitcoin, Ether and most other top 10 cryptos dropped on Thursday after a Wednesday rally on news of Grayscale receiving a favorable ruling against the SEC.

CoinSwitch, an Indian cryptocurrency exchange backed by Tiger Global and Sequoia Capital, has laid off 44 employees from its customer support team due to a drop in customer queries with falling trading volumes.

The Hong Kong branch of SEBA Bank has received an in-principle approval from regulators to provide virtual asset trading services in the jurisdiction.

Bitcoin, Ether rose less than 1% in the past 24 hours while posting losses on the week. Polkadot led gains among top 10 cryptos.

Mukesh Ambani, Asia’s richest man from India, said on Monday that his Reliance Industries Ltd. is exploring blockchain-based platforms and central bank digital currencies (CBDC).

Amid growing concerns around algorithm biases and their societal impact, India Prime Minister Modi calls for international consensus on ethical AI and crypto governance at the B20 summit. 

Sam Bankman-Fried pleads not guilty to misusing customer funds. North Korean hackers could cash out US$40 million worth of stolen Bitcoins

The Tornado Cash mixer’s co-founders have been charged by the U.S. Department of Justice with money laundering and sanctions violations.

Blockchain technology in Thailand could soon receive a boost by new Prime Minister Srettha Thavisin, who had promised during his campaign to give 10,000 baht (US$300) through digital wallets to every Thai citizen aged 16 years and above.

CoinDCX, one of India’s largest cryptocurrency exchanges, said on Wednesday it is laying off 12% of its staff due to the impact of a prolonged bear market and local tax rules. 

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:

Global institutional intrigue in digital currencies grows but the cryptocurrency market shows no signs of rallying.

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

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.

Australian banks are heightening scrutiny on digital asset exchanges and restricting crypto payments due to rising scams and frauds. Caroline Bowler, CEO of BTC Markets highlights the challenges and opportunities faced by the industry in the country.

Bitcoin rose slightly in the past 24 hours while Ether lost. Dogecoin and Solana were the day’s biggest losers, both dropping by over 1%, although both posted gains on the week.

South Korean prosecutors are looking to submit the recent U.S. ruling on Ripple to a Seoul court to prove Luna as financial securities.

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

Japan’s blockchain group urges tax change. Bitcoin NFT struggles but it may be a sleeping giant. Litecoin falls after halving.

Binance announced the launch of Binance Japan on Tuesday, offering 34 cryptocurrencies.

Bitcoin fell in Tuesday afternoon trading in Asia, dipping below the support level of US$29,000.

Concerns arise over Worldcoin’s free crypto. NFT market does a crabwalk. Japan’s next big thing for the metaverse.

The Tokyo WebX Asia conference, which claimed to be the largest of its kind in Asia, wrapped on Wednesday after two days of exhibitions, crypto-themed side events, and debate on what Japan needs to do to be a central part of the future of the digital asset industry.

Across Asia, projects dedicated to asset tokenization have become a cornerstone of the new digital economy, showing the world the technology’s possibilities.

Delio halted interest payments for all users on Monday, after announcing difficulties in providing services as usual.

Already home to most of the world’s gamers, Asia has a rich pedigree in seeding and embracing new technologies, writes Robbie Ferguson of Immutable.

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:

Mainland tourists can now shop in Hong Kong with Chinese CBDC, as part of a digital yuan shopping festival launched this week by the Bank of China (Hong Kong).

McDonald’s Hong Kong has joined the likes of Adidas, Coca-Cola, Gucci and other global brands with Thursday’s launch of its own metaverse.

Top blockchain and crypto news: Ripple not clear of hurdles | NFTs in historically slow period | Hong Kong banks dither

NAB, one of Australia’s “big four” banks, announced it is taking action to block some payments to “high-risk” cryptocurrency exchanges, as part of its new measures aimed at protecting customers from scams.

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

Shinhan Bank, the second largest bank in South Korea, and SCB TechX, the technology unit of Siam Commercial Bank, the oldest bank in Thailand, announced on Tuesday that they completed a second stablecoin transaction trial on the Hedera, a public distributed ledger network. 

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.

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 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.

The Seoul Southern District Prosecutors’ Office announced that it will launch the Virtual Asset Joint Investigation Unit at the end of this month.

South Korea’s FSC is requiring companies that issue or own cryptocurrencies to provide detailed crypto disclosures from 2024.

Bitcoin breached US$31,000 level in the past 24 hours after falling back to hold above US$30,000. Ether and all other top 10 cryptos gained.

The Japanese gaming giant is currently somewhere in the Web 2.3 to 2.7 range, says co-Chief Operating Officer Shuji Utsumi.

The global cryptocurrency industry is valued at US$180 billion, with over 10,000 companies employing a total of 190,000 employees, according to a July 5 report from crypto intelligence firm K33 Research. See related article: Singapore, Thailand clarify crypto rules; NFTs become new cultural frontier Fast facts See related article: South Korea, Singapore, Thailand clarify crypto […]

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:

Hong Kong, Japan, Singapore and Thailand have regulations supporting the growth of tokenization, showing the world the benefits of fractionalizing assets.

A South Korean academic tracking on-chain data says Do Kwon, the imprisoned founder of the now collapsed Terra-Luna crypto project, seems to have outside help in moving stablecoins from his digital wallets into other cryptocurrencies.

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

Singapore-based DBS bank has introduced a “merchant collection solution” using e-CNY – China’s central bank digital currency – to allow corporate clients of DBS China to collect payments from their customers in e-CNY, and avail the automated settlement of e-CNY directly into their bank deposit account.

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.

Indian Web3 firm Airchains has announced a partnership with the New Town Kolkata Development Authority of West Bengal, to release 500,000 NFTs in hopes to enhance registration and transfer of land ownership. 

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.

Hong Kong’s local government on Friday set up the Task Force on Promoting Web3 Development to promote the benefits of blockchain to real-world industries.

Kapoor founded the India Blockchain Alliance five years ago and gives an update on how the technology is being used in police reports to real estate transactions, as well as challenges of CBDC adoption and plans for tokenization of assets. He spoke in an interview for Forkast IQ.