Asia-Pacific

Blockchain gaming unicorn Animoca Brands announced yesterday a partnership with Aquis Farm — a major racehorse-breeding business owned by Hong Kong’s billionaire Fung family — to bring equestrian activities into the metaverse. The blockchain specialist will leverage Aquis Farm’s equestrian intellectual properties to develop blockchain games and non-fungible tokens (NFTs).  Fast facts “Aquis recognises the […]

Bitcoin’s hashrate has almost fully recovered just six months after China’s crypto ban sent miners fleeing to more hospitable shores. Fast facts Despite the recent price crash, the total Bitcoin hashrate stood at 180.5 million terahashes per second, almost approaching its all-time high of 180.67 million TH/s back in May, according to data from Blockchain.com. The hashrate took […]

India-based Layer 2 Ethereum scaling platform Polygon has acquired zero-knowledge technology developer Mir for US$400 million as part of Polygon’s continued focus on ZK tech. Fast facts Mir will help Polygon build its new project — Polygon Zero, a highly scalable, Ethereum compatible ZK rollup. A zero knowledge protocol is a cryptographic algorithm that allows […]

India’s proposed rules for digital assets would ban cryptocurrency for payments while the Securities and Exchange Board regulates exchanges. Will it become law?

The transaction, using the Hedera Consensus Service network, bypasses intermediaries, lowering fees.

Chinese property giant Evergrande has defaulted on its debt to global investors, credit rating firm Fitch Ratings reported today. Fast facts Fitch has downgraded Evergrande to “Restricted Default” after its deadline to pay interest due on two dollar-denominated bonds passed on Monday. The actual payments were due a month ago and the grace period expired […]

Hong Kong-based venture capital (VC) firm Chiron Partners announced Wednesday the launch of a US$50 million fund to support the Terra blockchain ecosystem. Fast facts Chiron Partners will use the fund, namely the Chiron Terra Fund I (CTI), to invest in innovative projects built on the Terra ecosystem, such as decentralized finance (DeFi) applications and […]

A new survey published Wednesday by Visa shows that 18% of Hong Kong residents are active cryptocurrency investors, while 13% are passive investors, representing the second-highest engagement with crypto just after the U.S. Fast facts The survey collected 6,430 online responses from Argentina, Australia, Brazil, Germany, Hong Kong, South Africa, the U.S., and the U.K. […]

Polygon envisions a world where value can be exchanged without borders. In this Forkast.News explainer, find out how Polygon works and why its MATIC token is defying crypto market gravity — again.

Singapore-based Brytehall is to co-host a new non-fungible token (NFT) art auction with bike manufacturer Specialized on Dec. 16, to sell an artwork of a bicycle named “enishi-E” created by Japanese artist Kosuke Masuda, both physically and digitally in an NFT. Fast facts Kosuke described the bike to be auctioned as an “alive” one, for […]

Binance is acquiring an 18% post-money stake in Hg Exchange (HGX) — a private securities exchange that has obtained a recognized market operator license by the Monetary Authority of Singapore (MAS) — through Binance Asia Services, the blockchain ecosystem and cryptocurrency provider behind Binance, according to a company statement released Wednesday. Fast facts Binance’s investment […]

Mu Changchun, director-general of the People’s Bank of China’s digital currency institute, said today the central bank is working with the Hong Kong Monetary Authority (HKMA) to test cross-border payment features for the e-CNY, China’s much anticipated central bank digital currency (CBDC). Fast facts Mu said at a webinar, jointly organized by the PBOC and […]

South Korea’s National Tax Service (NTS) recently launched an intensive tax investigation into blockchain and crypto venture capital firm Hashed, while its CEO denies any involvement in slush fund raising or tax evasion, according to local media reports. Fast facts Hashed confirmed that it had cooperated with the 4th Bureau of Investigation from the Seoul […]

Suzhou, a city located in Jiangsu province, will set up China’s first blockchain demonstration pilot zone, supported by the Ministry of Industry and Information Technology (MIIT), according to a local media report. Fast facts MIIT agreed to Jiangsu Province’s request for support to set up a pilot zone for blockchain in Suzhou and said it […]

The Beijing Municipal Government announced the bidding results for the city’s blockchain and computing power platform. Tencent Cloud and government-tied enterprise Beijing Microchip Sensing Technology won the bid and will be paid US$37 million to build the system. Fast facts According to the bid’s quotations, Tencent Cloud will provide the cloud service for the blockchain […]

Tough measures in India’s crypto bill meanwhile, NFTs are becoming a hot Christmas gift

Four of Japan’s virtual currency firms established the Japan Metaverse Association (JMA) yesterday with aims to promote metaverse technology and improve the framework for implementing user protection measures. Fast facts The Japan Metaverse Association aims to help the country become a forerunner in the race toward the metaverse by collecting and sharing essential information from […]

As part of a broader attempt to address Australia’s payments industry, the government offers a roadmap to where crypto regulation can lead in 2022.

Meta’s South Korea representative says the country has one of the best environments for the metaverse business to thrive in, at its first press conference in Korea after rebranding from Facebook. Fast facts At Meta Korea’s VR (virtual reality) art media showcase, Jung Ki-hyun, the country director, said South Korea is accommodating to the metaverse […]

Crypto crash hits Korean game developers, also how to spot Rug-pull’s red flags

‘Team Pacquiao GG’ may be coming soon to League of Legends and Axie Infinity. But whatever happened to the former pro boxer’s Pac token?

Singapore-based cryptocurrency trading platform Coinhako has received backing from the SBI-Sygnum-Azimut Digital Asset Opportunity fund, with the fundraising round being three-times oversubscribed, according to a statement released today. Fast facts The fund is a venture capital fund co-managed by Japan’s SBI Group, Switzerland’s Sygnum Bank — which claims to be the world’s first digital asset […]

Japan’s Financial Services Agency (FSA) is planning a legislative proposal for the upcoming year to restrict the issuance rights of stablecoins to banks and wire transfer companies, according to a Nikkei Asia report. Fast facts The FSA’s decision to limit the issuance is meant to lower risks for stablecoin users, as FSA-authorized banks and wire […]

Kotak Mahindra Bank, a leading private bank in India, has struck a partnership with crypto exchange WazirX, the Economic Times reported. Fast facts WazirX has opened an account with Kotak that can be used to pay and receive money from investors, according to the ET report. The account will be activated after the completion of […]

Bilibili — one of China’s biggest video sites particularly known for its content dedicated for anime, comics and games fans — is testing its blockchain UPowerchain that could help the company build its metaverse business, as Chinese tech giants are sparing no efforts to enter the metaverse space. Fast facts Bilibili has confirmed with Forkast.News […]

Tourism officials want to attract more crypto-wealthy travelers to Thailand’s shimmering shores. But will the crypto faithful come if Thailand still has a ban on SHIB and Dogecoin?

Experts expect more disruption as the crypto industry matures and a younger generation places different values on status and job security.

The Indian ministry of electronics and information technology (MeitY) has released a 52-page “National Strategy on Blockchain” document that urges closer cooperation between government and the private sector to build blockchain infrastructure across the world’s second-most populous nation. Fast facts It is to be noted that the current NSB document is an updated version from […]

The fund will track companies that use and benefit from the technology underlying cryptocurrencies, but will not invest in crypto or crypto exchanges.

On top of China, authorities in Russia and Ukraine are busting underground miners, while U.S. Senator Elizabeth Warren presses a New York miner.

Crypto hit in market sell off, also Bitget reportedly suspended by MAS

Singapore-based crypto exchange had claimed the fan token would support BTS members — while the band’s agency denied any association with it.

Japan’s mobile game Elemental Knights Online is planning to release Gensokishi Online -META WORLD-, which is its newest version incorporating elements of play-to-earn, user-generated NFTs (non-fungible tokens), and the metaverse. Fast facts Gensokishi Online’s “Meta World” metaverse will allow players to purchase land and freely edit in their creations, such as buildings and characters. The […]

Signaling a growing interest in business opportunities in the interactive virtual world, KRAFTON, one of South Korea’s major game developers, quietly invested 5 billion Korean won (around US$4.2 million) in Naver Z back in July. Naver Z, under internet giant Naver, services the fast-growing Zepeto metaverse platform. Fast facts KRAFTON told local media that its […]

A cabinet note suggests the government intends to regulate cryptocurrencies as assets with the Securities and Exchange Board of India at the helm.

In Beijing, four state-run banks released a new batch of digital yuan (e-CNY) coupons on Thursday to promote its adoption rate in rehearsal for the upcoming Winter Olympics. This batch of coupons tests the e-CNY’s application in small-amount and high-frequency payment scenarios. Fast facts According to an announcement from Beijing financial authorities, coupon use cases […]

With economic security as a top priority, the Kishida administration anticipates the release of competing CBDCs.

Much of the world has been living under lockdown over the past few years, and collective mental health has been severely impacted. One Australian firm is looking to raise awareness and funds to address the issue with a new Down Under themed non-fungible token series, according to a press release shared with Forkast.News. Fast facts […]

Crypto resilient to Omicron meanwhile Japan speeds up on CBDC

Sohn Byung-doo, chief executive officer for Korea Exchange (KRX), urged South Korea to prepare an institutional infrastructure as virtual assets have become a major investment asset in the country. Fast facts In his speech at the 2021 Global ETP Conference, Sohn insisted that the “virtual asset market is no different from the capital market in […]

Qihoo 360, a Chinese internet company best known for its antivirus software programs, has built a system that could help the Chinese government track cryptocurrency mining activities, as the country continues to crack down on the sector. Fast facts Qihoo 360 said in a Tuesday statement that it detected 109,000 active mining IP addresses on […]

Will crypto exchange Binance withdraw its license application in Singapore and look elsewhere in its search for a new global home?

A former finance secretary says too much is yet unknown about the new crypto bill for investors to expect the worst.

The Korea Premium Index for Bitcoin reached 7% last Sunday, which may indicate an influx of retail investors.

The impresario behind superstars BTOB and (G)I-DLE tells Forkast.News there’s ‘no upper limit’ to how much Cube will invest in NFTs and a metaverse for concerts.

Top blockchain and crypto news: Are India’s CBDC plans crowding out crypto? Jack Dorsey goes full Bitcoin bro. China’s digital yuan hopes claim another victim.

Non-fungible tokens (NFTs) featuring famous traditional Chinese paintings by culture studio Rongbaozhai have been successfully transferred from China’s Blockchain-based Service Network (BSN) WenChang Chain to the OpenSea marketplace on the Ethereum blockchain, a milestone in the development of interchain NFT technology. Fast facts The transfer was made on Nov. 16 across four blockchains: WenChang Chain […]

Huobi Group, which operates Chinese cryptocurrency exchange Huobi Global, has decided to set up a regional hub in Singapore, a representative of company has told Forkast.News. Fast facts In November, Huobi Global pledged to stop offering services to Singapore-based users from March 31, 2022, to comply with local laws, according to a company statement. Huobi […]

Is CoinDCX — India’s first crypto company to achieve unicorn status, or US$1 billion in valuation — going public? CoinDCX co-founder Neeraj Khandelwal set off a frenzy of excitement when he told Bloomberg in a recent interview that CoinDCX may pursue an initial public offering as soon as legislation permits. But a CoinDCX spokesperson told […]

Now that South Korea’s crypto tax is delayed a year, what will the final form look like? Should crypto gains be taxed like stock profits — or winning the lottery?

Korea crypto tax postponed, meanwhile CoinDCX looks to IPO

Hong Kong Stock Exchange-listed Huobi Technology Holdings today announced that it will be launching Huobi Lending, a cryptocurrency lending service for institutions and high net worth individuals (HNWI) through its new digital asset brokerage platform Huobi Brokerage, according to a company announcement. Fast facts Alongside growing institutional interest in digital assets, crypto lending services leveraging […]

Hong Kong-based ViLab Limited, a metaverse developer, announced today that it has signed a memorandum of understanding (MOU) with Gulliver Studios, the effects creator behind the Netflix hit series Squid Game, to develop technology that can be used for creating virtual identities and other features for the metaverse. Fast facts ViLab and Gulliver Studios will […]

KB Kookmin Bank, one of South Korea’s largest financial institutions, announced yesterday that it has developed the KB Metaverse VR Branch Testbed for experimenting with allowing customers wearing a head-mounted VR device to access banking services in a metaverse. Fast facts Simple transactions, such as remittances, can be managed at a teller window, while an […]

Omicron hits markets meanwhile Japanese novel released as NFT

In the long run, the new rules may ‘lay the perfect foundation’ to improve risk management, says an ICBC expert.

A new amendment to South Korea’s income tax law, which includes delaying the taxation on crypto gains by one year, was agreed upon by South Korean political parties at the National Assembly today. Fast facts The ruling Democratic Party and the opposing conservative People Power Party officially made a resolution at the National Assembly Strategy […]

SK Square, a new investment firm under one of South Korea’s largest conglomerates, SK Group, chose cryptocurrency exchange Korbit as one of its first investments. The two companies aim to upgrade the trading platform’s environment in order to deliver more accurate and trustworthy investment information to users, and plan future businesses in the metaverse and […]

Fund manager Fintonia has launched two new Bitcoin funds — Fintonia Bitcoin Physical Fund and Fintonia Secured Yield Fund — for institutional investors. Fast facts The physical fund buys and holds actual Bitcoin, rather than investing in a Bitcoin-linked derivative product. The fund’s Bitcoin will be stored with a licensed and insured custodian, according to […]

Singapore-based crypto exchange Coinstore has entered the Indian market despite the regulatory wrangle that points toward an impending ban on all private cryptocurrencies, the company announced today. Fast facts Coinstore has launched its website and mobile application for Indian users and plans to set up offices in Bangalore, Delhi, and Mumbai that will support its […]

Chinese companies are rushing to the fore to develop their metaverse ideas, though state media have recently warned about the associated risks the emerging technology could bring. Fast facts An opinion piece published yesterday by state-owned Economic Daily said the hotter the metaverse gets, the more the public should stay calm. The author wrote that […]

Miyuki Ono’s science fiction story “Pure” is being released as NFT (non-fungible token) copies to create a new channel of income for writers and translators who are currently insufficiently compensated for their work. Fast facts “Pure” is one of world’s first Japanese science fiction works released as an NFT, while also being the first NFT […]

South Korea reaches a tentative agreement to delay a pending tax on virtual assets. Crypto investors in next-door Japan already face taxation up to 55%.

Interest in cryptocurrency is being driven in part by ultra-low interest rates, Reserve Bank of Australia assistant governor Michele Bullock has said, while indicating the RBA is considering the creation of a central bank digital currency (CBDC) for use in wholesale markets, according to the Australian Financial Review. Fast facts Speaking at a Women in […]

Korea crypto tax debated meanwhile, Crypto.com is on a tear

A bill to delay a pending tax on virtual assets failed to pass the National Assembly’s standing committee at a meeting yesterday, while the topic remains a huge factor in the upcoming presidential election. Fast facts The South Korean National Assembly’s tax subcommittee under its Strategy and Finance Committee had discussed an amendment to the […]

Xive co-founder tells Forkast.News no mining is possible in the south, while other regions still survive.

Gamevil, the South Korean mobile game software developer, has acquired blockchain technology company Zenaad with plans to grow as a platform for blockchain-based games. Fast facts Gamevil revealed yesterday that it has entered the final stage of constructing its blockchain ecosystem with the acquisition of Zenaad. The tech force at Zenaad has been internalized into […]

The Japan Digital Currency Forum has released a white paper examining the possibility of a new cryptocurrency backed by bank deposits. Fast facts The forum consists of over 70 companies, including the country’s top banks such as MUFG Bank, Sumitomo Mitsui Banking Corp., Mizuho Bank, Japan Post Bank, among others. Several government agencies also are […]

One of Australia’s leading superannuation funds, Rest Super, indicated it is looking at investing in cryptocurrency — calling it a hedge against rising inflation — before stressing it is still only in the research phase of investing, according to a report in the Australian Financial Review. Fast facts Speaking at the fund’s annual general meeting […]

Bitcoin and Ethereum prices fell nearly 24% in India as investors sought to get ahead of a possible crypto prohibition.

India proposes crypto ban meanwhile Metaverse race heats up