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118 articles

February 2023

India’s Budget Disappoints

India’s position on digital assets remains status quo as the country’s parliamentary budget hearing leads to disappointment in the crypto sector.

FastForkast headlines

South Korea arrests head of Bithumb crypto exchange for alleged embezzlement

Markets: Bitcoin stays above US$23,000; Cardano leads gains in top 10 cryptos

Hong Kong to mandate stablecoin licensing as early as this year

February 2023

A crypto regulatory storm front is coming in 2023. Are we ready for it?

Laws to prevent another FTX blowup, crackdowns on crypto tax cheats, and a ruling on Ripple are likely imminent. A bull’s eye is also on DeFi, writes Gergo Varga of SEON.

India’s CoinDCX exchange says crypto tax rules are reducing government revenue

India announces its full year budget on Feb. 1, the last before general elections in 2024, and the cryptocurrency and digital asset industry is lobbying the government for changes in tax rules, among others.

Indian Budget Ahead

India’s crypto tax laws have caused local trading volume to plummet and the industry is hoping for better news in the upcoming budget session.

China NFT platforms expand into Hong Kong in face of compliance risks on mainland

Hong Kong’s new digital asset-friendly policies could set the city up as the home for secondary NFT marketplaces from China as trading of ‘digital collectibles’ remains a gray area on the mainland.

Why is it harder to arrest Terra-Luna founder Do Kwon than FTX’s Sam Bankman-Fried?

South Korea’s attempts to extradite the founder of the collapsed Terra-Luna stablecoin will remain hamstrung while the courts in Seoul dispute the charges against him.

Digital Currency Group in spotlight over suspicious fund transfers

Top blockchain and crypto news: DCG under investigation. Lido DAO surges as Ethereum’s Shanghai upgrade looms. Hong Kong burnishes crypto credentials.

India’s CoinSwitch exchange to add non-crypto products amid punishing taxes on digital asset trading

Indian cryptocurrency exchanges faced a flurry of taxes on trading last year that saw volumes across most platforms drop as much as 90%, slashing income from trading fees. What’s a crypto exchange to do? Maybe sell mutual funds?

India’s Crypto Outlook

WazirX VP Rajagopal Menon sits down with Forkast to provide some insight as survival becomes a huge concern for crypto exchanges in India.

Ripple expects SEC ruling in first half, clearer global regulations for digital assets in 2023 

Ripple Labs Inc. expects a court decision in the first six-months of this year in the case filed against the company by the U.S. Securities Exchange Commission. The SEC sued Ripple in December 2020 for allegedly selling US$1.3 billion in unregistered securities.

FastForkast headlines

Hong Kong to mandate stablecoin licensing as early as this year

S.Korea to adopt crypto tracking software in the first half of 2023

More bad news for South Korea’s Bithumb exchange with “Kimchi coin” manipulation allegations

Apple, New York Times, Hong Kong Government listed among FTX creditors

Japan’s financial regulator aims to lift ban on foreign stablecoins by June this year

Accelerator Graviton to help Indian Web3 start-ups get funding

S. Korean city Busan to launch digital commodities exchange, shelves crypto

National Australia Bank to launch AUDN stablecoin: report

Coinbase asks Japan customers to withdraw holdings as it halts operations

Thailand’s SEC issues new regulations for crypto custody services

South Korea launches online metaverse replica of capital city Seoul to improve public services

S. Korean court says NFT game items are speculative, adds on to P2E ban

Monex Group expresses interest in bidding in upcoming sale of FTX Japan: Bloomberg

CEO of South Korea’s V Global US$2 bln crypto pyramid scheme gets 25 years in prison

Crypto lender Hodlnaut’s creditors reject restructuring plan, prefer liquidation: report

Coinbase to cut jobs, shut down most of its cryptocurrency operations in Japan

Hong Kong crypto exchanges to follow same laws as traditional finance

India’s WazirX crypto exchange releases proof of reserves, says 90% of user assets in Binance wallets

Thai regulator probes Zipmex crypto exchange amid acquisition: report

India’s Decimal Point Analytics gets US$750,000 grant funding to develop tokenization solutions

Markets: Bitcoin slips, Cardano leads losses in top 10 cryptos

Paycoin seeks reapproval after S.Korea suspends the payments token: report

Slumdog Millionaire composer A. R. Rahman tunes into metaverse

Markets: Bitcoin, Ether extend rise; Cardano leads gains in top 10 cryptos

Hong Kong pushes ahead with crypto hub plans as tech firms, startups show interest: financial secretary

Hong Kong lawmaker says e-HKD has potential to be a stablecoin

Indian crypto exchanges may lose US$1.2 trillion of trade volume in next four years: research

Indonesia to set up crypto stock exchange this year: report

Crypto, digital assets account for 69% of online investment scams in Hong Kong

Binance declines comment on speculation it may buy South Korean crypto exchange GOPAX

Final Fantasy’s Square Enix stays committed to blockchain despite backlash

Hong Kong financial service providers gear up for retail crypto traders

January 2023

South Korea keeps betting on the metaverse, ignoring the current clunky technology

South Korea took a real shine to the metaverse in 2022, with the central government, regions and cities all interested in getting a piece of the virtual reality pie, despite criticism that the technology has a long way to go.

India’s religious festivals coming to a metaverse near your avatar?

India loves religious festivals, but are its citizens ready to attend such celebrations in virtual reality? An Indian startup reckons they are and launched its first effort this year, saying 20,000 avatars showed up.

The last 12 months the year to forget, says India’s WazirX crypto exchange  

A lot of the troubles for India exchanges in 2022 will run into next year as they shed staff and run down reserves to stay afloat, and not all are expected to make it.

Will Bitcoin’s true value prevail in 2023? 

As crypto investors move towards self-custody following FTX’s collapse, Brian Paik wonders whether it could teach people the true value of Bitcoin, beyond hype and price speculation.

Sam Bankman-Fried in Bahamas police custody, faces criminal charges in U.S.

Top blockchain and crypto news: SBF denied bail, US extradition likely next. The Block chief quits over secret FTX loans. Hong Kong readies digital asset rules.

Why local currency stablecoins are needed in non-US countries

Stablecoins in USD are becoming the digital world’s default currency — which burdens ordinary crypto users and monetary policies in smaller nations, writes Wei Zhou of

South Korea’s Wemade shares drop, WEMIX token plunges after delisting verdict

The South Korean blockchain game maker’s WEMIX cryptocurrency will be removed from the country’s four major cryptocurrency exchanges that collectively account for more than 95% of the country’s crypto trading volume.

FastForkast headlines

Hong Kong financial service providers gear up for retail crypto traders

Japan game maker Gumi strikes US$52 mln metaverse deal with Square Enix, SBI

Kraken to shut Japan operations

Japan plans to lift ban on stablecoins issued overseas: report

Hong Kong arrests two for suspected involvement in digital asset fraud on AAX

S. Korea’s Busan city crypto exchange moves ahead without global partners

South Korea’s ‘metaverse’ province says will use virtual platform to expand ties with Vietnam

Hong Kong’s SFC appoints new chief who calls for stronger crypto regulation

Hong Kong Stock Exchange debuts ‘Asia’s first’ crypto futures ETFs

Japan plans to ease corporate tax rates for cryptocurrency issuers

Japan ruling party lawmaker calls for regulatory clarity after FTX debacle

South Korean official says no confirmation Binance pulling out of Busan city crypto exchange project

Wemade appeals against the court ruling in favor of WEMIX delisting

Hong Kong mulls regulatory requirements for local licensed crypto exchanges: report

S.Korea discusses control over crypto listings after WEMIX delisting

Terra cryptocurrency fugitive Do Kwon flew to Serbia last month, South Korean prosecutor says

Wemade to buyback US$10 mln in WEMIX after delisting verdict

Hong Kong’s virtual asset licensing regime to take effect next June

S.Korea court dismisses Wemade’s injunction, local exchanges to delist WEMIX

Hong Kong’s race to launch first crypto-linked ETF begins