Articles filed under

Asia-Pacific

118 articles

October 2021

How Singapore’s crypto regulations are shaping its DeFi space

Singapore is a major crypto hub. But for whom? In this primer, Malcolm Tan explains the island-state’s regulatory evolution and which groups are no longer in its favor.

Samsung Next, others grow blockchain portfolio despite tightened South Korea regulations

Conglomerates including Samsung continue to invest in blockchain and crypto startups despite a government crackdown on the industry.

China fuels blockchain development despite stricter crypto ban

Authorities encourage new ways to apply blockchain across various industries, although there’s no room for crypto
and

Crypto tax critical to Korean election: China crackdown continues

South Korean presidential hopefuls lean towards delaying crypto tax to impress younger voters.

China’s Zhejiang province busts covert crypto mining operations — some within public entities

Hidden mining tracked by IP addresses to state agencies, enterprises, institutions, schools

U.S. leads in Bitcoin mining as China’s share drops to zero: Cambridge data

U.S., Kazakhstan, Russia take up largest Bitcoin hashrate shares as the exodus of Chinese miners continues.

China to ‘outdate’ crypto mining industry with more restrictions

The country’s top economic planner hopes to prohibit investment in what it considers an energy-intensive sector.
and

NFTs and the music industry: Flatten the learning curve | Part 3

Singers and musicians are embracing non-fungible tokens, but will their non-crypto active fans buy it?

CoinSwitch Kuber becomes unicorn; Australians reminded over crypto tax

Coinswitch Kuber becomes unicorn meanwhile Australians reminded over crypto tax

Australian Tax Office warns: taxpayers on the hook for crypto tax earnings

Officials are concerned that many investors may not be aware crypto trading is taxed in a similar way to share trading.

Crypto miners blamed for Kazakhstan’s power shortages; Bitcoin on the up

Kazakhstan blames its newly settled crypto miners for power shortages as South Korea’s largest exchange is accused of listing faulty tokens for profits.

How should the world tackle crypto criminals and digital dangers?

Top blockchain and crypto news: US leads charge in ramping up cybersecurity. Crypto fans crow as Facebook flops. China bears down on metaverses.

Top South Korean exchange accused of listing faulty tokens for fees

A lawmaker claims Upbit earned hundreds of millions by listing sketchy cryptocurrencies, while the exchange rebuts that it follows fair and strict standards.

Petitioners oppose looming 20% crypto tax in South Korea

Crypto investors say virtual asset gains will be taxed on uneven grounds compared to stock capital gains.

How Singapore is emerging as a safe harbor for the Chinese crypto industry exodus

As China intensifies its crypto crackdown, regulatory clarity is a beacon for safer shores in Southeast Asia.

What is Hong Kong’s future as a crypto hub?

Hong Kong, a hotbed for crypto startups and exchanges, is at a crossroads, writes Jeremy Ng of Gemini. Here’s how the industry can better secure its future.

Central and Southeast Asia among fastest-growing regions in global crypto adoption: Chainalysis

Much of the growth in the region is driven by strong grassroots adoption rates led by Vietnam, India and Pakistan, new data from Chainalysis shows

Why domestic and overseas Chinese should worry about China’s crypto ban

In a special Q&A, a Canadian law advisor who works with Chinese clients breaks down the ban’s potential legal boundaries and concerns held by overseas Chinese.

Illegal foreign exchange transactions using crypto in South Korea break record, grow fortyfold

The country sees a rise in the amount of illegal currency transactions across the border while the use of virtual assets makes it almost impossible to track down.

Crypto on the beach: FTX and other players find paradise in the Caribbean

This week, FTX announced it is moving its headquarters from Hong Kong to the Bahamas, as the larger Caribbean region takes on a bigger role as host to virtual currency exchanges.

FastForkast headlines

20% crypto tax is critical issue in next South Korea presidential election

Chinese President Xi Jinping underscores blockchain importance in transport

E-CNY soft rollout continues as Beijing Capital Airport accepts CBDC payment

Crypto mining pool AntPool to stop IP access from mainland China

East Asia falls from 1st to 4th place in share of global crypto transaction volume

Another Chinese state-run media outlet faults NFT frenzy

Crypto platforms Cobo, Gate.io leave mainland following China crypto ban

Australian Securities Exchange to launch crypto-related ETF

China’s state-backed blockchain network, U.S. firm team up to enhance CBDC efficiency

TikTok’s first NFT collection auction goes live featuring rapper Curtis Roach

Binance to shut down yuan trading on C2C platform after China’s crypto ban

‘Squid Game’ NFTs being traded on OpenSea

McDonald’s China launches first NFT to commemorate 31 years in mainland market

Postal Savings Bank of China tapped for development role in digital yuan payments

Shenzhen has the most e-CNY pilot program uses, Chinese state-owned media says

Blockchain technology to aid journalists in South Korea

Cryptocurrency now on the table for Aussie homebuyers

China’s national blockchain network to expand to Turkey, Uzbekistan

China’s Jiangsu province works to wipe out covert crypto mining

South Korea calls for legal review on DeFi businesses

India gets second crypto unicorn within two months

Hong Kong issues technical white paper on e-HKD

e-CNY wallet launched in China allows transfer via chat window

Singapore grants crypto licenses to DBS and Australian exchange Independent Reserve

Government-backed NFT art-trading market launched in China’s new duty-free port

October 2021

DeFi benefits from China ban; Gamevil increases Coinone stake

DeFi benefits from China ban while Gamevil increases Coinone stake

After the crackdown: go underground, go along, or buy the dip?

Chinese social media has been abuzz since authorities lowered the boom on crypto. Forkast.News has been following the chatter. Here’s what they’re saying on Weibo, the Chinese equivalent of Twitter.

Why China’s latest stomp on crypto is turbo-charging DeFi growth

DeFi tokens like dYdX soared after China’s latest move to throttle crypto. Is this a short-term spurt or decentralized finance shifting into high gear?

Who in the world should worry about China’s new crypto ban?

As Chinese authorities take aim at crypto violations outside mainland borders, Forkast.News asks lawyers in the know: Who is in China’s line of fire?

How China’s crypto clampdowns could reshape the rest of the world

Against the global tide of digital asset adoption, China’s harshest crypto ban yet heralds golden opportunities, writes Richard Byworth of EQONEX. Other governments should take note.

South Korean banks find workaround to cash in on crypto services

NH Nonghyup is the third bank in South Korea to invest in a virtual asset custody service while they are prohibited from running their own.

Unmade in China: Beijing’s crypto cold war turns hot

Top blockchain and cryptocurrency news: Beijing’s crypto crusade comes to a head. Chinese mining caves in. Mr. Goxx reaps robust returns.

China fallout hits mining; Korea digital custody competition heats up

China fallout hits mining meanwhile Korea digital custody competition heats up

Ant Group and Tencent obtain the most blockchain patents in China: report

China saw a fivefold increase in blockchain patents last year despite the Covid-19 shutdown.
and

How central banks are wielding blockchain in soft power competition

China’s crypto ban is part of a global battle over freedom and ideology, writes Michael B. Greenwald. How can the US lead the world in a different path?

Crypto mining players continue to flee China as latest ban kicks in

China’s earlier efforts to eradicate mining may not have been as effective as the government had hoped, but Friday’s announcement is having an impact.
and

The curious timing behind China’s thunder and lightning at crypto

China assaulted crypto with a new ferocity just as Bitcoin options expired and Evergrande escaped death. Coincidence? Ben Caselin of AAX lays out the clues.

Damage to South Korean crypto market limited despite mass closure, regulator says

South Korea’s virtual asset industry is expected to withstand major regulatory reconstruction

FTX CEO: This is the canary in China’s crypto ban coal mine

Amid China’s new clampdown, why is DeFi surging and the RMB-to-crypto market important? Sam Bankman-Fried analyzes what it all means and why FTX is leaving Hong Kong for a new home.

Chinese crypto exchange Huobi looks to the world as China shuts the door on crypto

Huobi’s diversified businesses outside of China reached nearly 70% in terms of trading volumes, and have been on the rise, its co-founder tells Forkast.News.

Ban or no ban, Indian crypto industry is thriving

India’s crypto industry will grow over 200% to reach $241M by 2030, a new study says.

China’s crypto ban: what you need to know

How is China’s latest clampdown on crypto different from its previous bans — and how do authorities plan to catch the scofflaws? Henri Arslanian of PwC breaks it down.

Crypto markets shrug off China’s latest saber-rattling

Is China’s influence over Bitcoin and the global crypto market waning? Chinese exchanges get a thrashing as decentralized exchanges get happy on clampdown news.
and

What does China’s crypto ban really mean? Insights from the ground

China’s hardline stance against crypto is already rippling beyond its borders. A mainland crypto insider explains the global shakeup yet to come.

Fewer South Korean crypto exchanges remain in business under new industry regulations

Around 35 virtual asset exchanges will vanish as of midnight Friday, as the country imposes new rules designed to protect consumers.

FastForkast headlines

Government-backed NFT art-trading market launched in China’s new duty-free port

Following crypto ban, digital wallet imToken restricts some access for China users

Cabs in Chinese city Xi’an pilot digital RMB as fare

BeePool, Tiger Brokers among the latest to respond to China’s crypto ban

China’s BSN to set up foundation in Singapore to fuel international expansion

Chinese city adopts blockchain to track carbon emissions

The9 teams up with Polygon and Protocol Labs on new NFT platform, game projects