Asia-Pacific

Ant Group and Tencent recently rebranded NFT projects as digital collectibles amid China state media criticism.

The darling of the play-to-earn gaming world had an explosive start but now struggles with deflation and lower player earnings. Is the play-to-earn model sustainable?

More local governments in China are taking actions to crack down on cryptocurrency mining and trading, with Ganzhou, a prefecture-level city in the eastern province of Jiangxi, having deployed checks and inspections on local businesses. Fast facts The economic development zone in Ganzhou announced that it is working with the central bank’s local branch, the […]

A department director of the Shanghai Environment Energy Exchange (SEEE) said that blockchain will play an important role in the Chinese carbon cap-and-trade system for confirming, trading, and circulating carbon emission data. The statement comes at a time when China is intensively issuing top-down documents on reducing carbon emission heading into the 26th United Nations […]

Red Date Technology, the company China tapped to manage its Blockchain-based Service Network (BSN), said today it plans to fully launch an infrastructure for non-fungible tokens (NFTs) by the end of January 2022. Fast facts Red Date revealed on Friday an NFT infrastructure plan — BSN-Distributed Digital Certificate (DDC) — at its BSN Open Permissioned […]

Central Retail Corp., one of Thailand’s biggest department store chains, has developed a blockchain-based digital currency called C-Coin and is now testing it among employees, Bloomberg reported yesterday. Fast facts The company is currently distributing C-Coin to its 80,000 employees as bonus to their usual salary. Employees can use the crypto coin to shop at […]

The wild popularity of South Korean Netflix TV series Squid Game and K-pop boy band BTS prompt parody tokens in the crypto space under circumstances that are being called into question.

China’s first national standard for blockchain could be released next year and a draft is now in the process of being submitted for approval, an official said earlier this week at an event in the western province of Sichuan, according to a report from local media Chuanguan, run by state-owned Sichuan Daily. Fast facts Li […]

Behind this year’s giddy markets, evil and tragedies abound. Just in time for Halloween, Forkast.News shakes out the skeletons in crypto’s closet.

The South Korean government pushes forward its plan to tax crypto income beginning in January while investors and lawmakers criticize the pending tax law for its loopholes, with one lawmaker mentioning NFT goods of K-pop mega-group BTS. Fast facts The National Tax Service (NTS) of Korea met with 28 domestic cryptocurrency exchanges earlier this week […]

Only two weeks after the Australia Securities Exchange approved a similar product, the Cosmos Global Digital Miners Access exchange-traded fund (ETF) launched on rival exchange Chi-X Australia today, granting exposure to globally listed digital asset mining and infrastructure companies. Fast facts Trading under the name “DIGA,” the fund tracks the Global Digital Miners Index, designed […]

South Korean mobile game developer Netmarble to create a virtual K-pop idol group under partnership with internet giant Kakao group using meta-human technologies.

Mining pool Spark Pool, which was once a major Ethereum mining pool, says its users may withdraw existing balances, but beginning Nov. 1 it will no longer offer other services related to mining for both domestic and international users, the company said in a statement. Fast facts Spark Pool last month reacted swiftly to China’s […]

Recent developments indicate the government is looking to regulate the sector instead of quashing it, and industry experts remain optimistic. 

Top blockchain and crypto news: Is Tesla’s turbocharge a boost for Bitcoin? Mastercard’s Bakkt with a new crypto deal. Chinese NFTs on knife-edge.

The Municipal Administrative Center of Beijing officially announced the launch of an e-CNY enterprise zone to “explore the digital renminbi financial system.” The plan includes support for experimental digital currency projects including by increasing  5G infrastructure to enable faster transactions. Fast facts E-CNY is China’s central bank digital currency (CBDC). It is anticipated to be […]

Philippines trials blockchain voting meanwhile Byron Bay to host crypto mining

Local miners told Forkast.News that existing legal miners won’t be much affected, though they’re still subject to power rationing.

The Singapore government-incubated blockchain platform promises to dramatically speed up transactions and lower the cost of international trade.

A new data report shows there were about 55,000 blockchain-relate patents applications filed by 7,800 companies from 47 countries and regions during the period between the beginning of 2015 to June 2021, and China has seen the largest share of these applications, as the country has been boosting the development of blockchain technology over the […]

While it may be known locally and domestically as a tourist hotspot and home to many Hollywood A-list celebrities, Australia’s coastal town of Byron Bay is set to become host to Australia’s biggest Bitcoin mining site— and it’s going to be powered by 100% renewable energy. Fast facts According to a company press release, local […]

Tech giants banish non-fungible token references as Beijing looks down new virtual asset market.

The nation’s elections commission wants to upgrade its voting technology to improve voter turnout and public trust. Does blockchain check the boxes?

While the government signals it is ready to promote the industry, the country’s banks remain unimpressed. ANZ has already settled its de-banking case with Allan Flynn, but as the tribunal with Westpac concluded over the weekend, what should we expect from the outcome?

Greenidge Generation Holdings Inc., a U.S. Bitcoin mining and power generation company, has announced it plans to ramp up its operation across the U.S. by more than doubling its previous order with Chinese mining rig maker Bitmain. Fast facts Nasdaq-listed Greenidge said Thursday in a statement it plans to significantly expand beyond its current operating […]

The Australian government sees blockchain’s enormous benefits and is now actively developing the technology, writes Chami Akmeemana. What can other countries learn from this?

Australia’s Senate report into fintech regulations includes 12 recommendations for a clear digital assets framework.

A lawmaker claims authorities gave the country’s largest crypto exchange privilege in meeting government requirements.

Kazakhstan — one of the popular destinations for Chinese crypto miners as they look for more regulation-friendly shores — continues to face power shortages, with its national grid operator last week rationing power after some failures occurred in a few power units. Fast facts Kazakhstan electricity grid operating company KEGOC said in a statement last […]

The Senate unveiled its most comprehensive look at blockchain regulation, hoping to transform the country into a global industry leader.

China’s Ministry of Commerce, along with 23 other central departments, on Tuesday jointly issued “The 14th Five-Year Plan for Service & Trade Industries.” It outlines how China will integrate blockchain into the process of global trading, including applying blockchain on bills of lading, building a blockchain-based global shipping information network, and using blockchain to record […]

Chinese e-commerce giant JD.com is giving away free non-fungible tokens (NFTs) to those who sign up for its annual technology conference JD Discovery, in a move to jump on the NFT bandwagon following its rivals Alibaba and Tencent. Fast facts JD.com’s tech arm JD Technology said yesterday in a social media post it is giving […]

Lotte World Adventure, one of the most popular South Korean amusement parks, is opening a virtual replica on Naver’s Zepeto metaverse. Fast facts Lotte World Adventure constructed “Magic Island,” its outdoor section of the park, onto the Zepeto metaverse, which opens tonight at 6 p.m. Korea time. Upon entering the Lotte World map on the […]

In a special Q&A, CEO Louis Liu describes the hoops FOMO Pay jumped through to win Singapore’s first crypto license and calls its regulator a ‘collaborator.’

Huobi Japan has been granted approval to offer crypto derivatives as a Type I Financial Instruments Business by Japan’s Financial Services Agency (FSA) — the regulator for financial services in Japan — according to a company statement this week. Fast facts Huobi Japan currently offers spot trading for 14 cryptocurrencies, including Bitcoin, Ethereum and Huobi […]

Top blockchain and cryptocurrency news: Bitcoin grows up. Facebook’s metaverse journey. China’s crypto investors find a workaround.

More industry players are exiting the Chinese mainland market amid tougher crackdown.

After iron-fisted regulations closed down many exchanges, remaining trading platforms look for alternatives to transaction fees.

More than one-third — or 37% — of Singapore residents are already using or are interested in using cryptocurrencies to pay for purchases, according to the latest research from Worldpay from FIS, a payment platform. But nearly half — or 47% — of Singaporean respondents said that they were not interested in using cryptocurrencies for payments. […]

Chinese find ways around crypto ban meanwhile ANZ settles debanking case

JD.com, an online retailing platform ranked by trading volume as No. 1 in China and No. 13 globally by Deloitte, said it will accept electronic yuan (e-CNY) payments during the upcoming Double 11 shopping festival and will issue digital yuan coupons during the event. Fast facts The Double 11 shopping festival refers to a Chinese […]

Some are registering companies overseas, via — you guessed it — Taobao vendors.

Amid a national conversation on debanking of crypto businesses, one of Australia’s “Big Four” banks — ANZ — has settled a case brought by local exchange operator Allan Flynn, who argued ANZ debanked him due to his occupation in cryptocurrency. Fast facts Flynn, crypto trader and owner of the Australian exchange CanberraBitcoin, announced the settlement […]

Singapore-based crypto trading platform Coinhako has launched “Coinhako Privé,” a digital assets platform for high net worth individuals (HNWIs) and institutions, according to a company announcement today. Fast facts The Coinhako Privé platform will provide members with institutional grade digital asset services and white glove services, such as a dedicated relationship manager, personalized support from […]

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.

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

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

Candidates and possible contenders in South Korea’s next presidential election call for delaying a plan to tax virtual assets — currently scheduled to begin in January — in a bid to appeal to millennial and Generation Z voters. Fast facts Lawmakers from both the ruling democratic party and the opposition party have spoken out against […]

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

Chinese President Xi Jinping said on Thursday at the United Nations Global Sustainable Transport Conference the country needs to uphold an innovation-driven approach and create more drivers for development. He specifically mentioned in his remarks the integration of blockchain. Fast facts Xi said more should be done to develop smart transport and smart logistics and […]

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

The soft rollout of the electronic Chinese yuan (e-CNY) continues across China in advance of its expected formal launch in time for the Beijing Winter Olympics in February. In the latest sign, Beijing Capital International Airport has become the first airport in the country to support payment by the central bank digital currency (CBDC), which […]

AntPool, currently the world’s second-largest Bitcoin mining pool in terms of real-time hashrate, announced today that it is stopping the connection of IP addresses from the Chinese mainland beginning Friday. Fast facts AntPool said in its statement it decided to make the adjustment to abide by the Chinese government’s relevant rules on crypto mining and […]

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

East Asia’s share of global cryptocurrency transactions plunged to 14% in June 2021 from 31% in April 2019 when it was by far the world’s largest crypto economy, according to blockchain data provider Chainalysis’ 2021 Eastern Asia Report published today. Fast facts China’s crypto crackdown in May saw East Asia — with China the biggest […]

The Chinese government-aligned newspaper Guangming Daily published an opinion article to criticize non-fungible token (NFT) hype, which is “definitely not good for the healthy development of NFT.” Fast facts The article cited Gartner, a global technology research company, and its report Hype cycle for emerging technology, indicating that NFTs are at a high point of hype. The […]

Cryptocurrency investors on the Chinese mainland continue to feel the chill from the country’s latest crypto ban, as more and more industry players exit the Chinese market. Cobo, a Singapore-based crypto management platform, is among the latest to opt out. Fast facts In order to reflect the regulatory requirements on the mainland, Cobo said Wednesday […]

Hot on the heels of a similar exchange-traded fund being approved in the U.S., the Australian Securities Exchange is close to launching the “BetaShares Crypto Innovators ETF,” which will grant exposure to global companies working in the digital asset space, according to the Financial Review. Fast facts Using the ticker “CRYP,” the ETF aims to […]

China’s Blockchain-based Service Network (BSN) — a public-private nationwide infrastructure project to spur mass adoption of blockchain technology — is partnering with a New York-based blockchain company to advance interoperability as BSN actively expands its global presence to lure more developers to use the blockchain network. Fast facts Cypherium, a smart contract technology provider focusing on central […]

Popular short-video app TikTok has started its non-fungible token (NFT) auction of “TikTok Top Moments” that feature works of a series of rappers and artists, as the social media giant appears keen to jump on the NFT bandwagon. Fast facts The auction of Detroit rapper Curtis Roach’s “Bored in the House” NFT has gone live, […]

Binance — the largest cryptocurrency exchange in the world by market value — is set to close down the yuan trading feature on its customer-to-customer platform on Dec. 31, the company said today in a statement, in a move to “meet regulatory requirements of the local government.” Fast facts Binance also said it will conduct […]

An unidentified NFT (non-fungible token) creator with user name 9194C0 on digital marketplace OpenSea has created nearly 2,000 NFTs that replicate the globally popular Netflix series ‘Squid Game’ with some being traded for more than 1 ETH. Fast facts The NFTs replicate a card that appears on the television series inviting the protagonist to join […]

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

Working with Chinese blockchain Conflux, McDonald’s China has launched its first NFT to commemorate its 31st anniversary in the Chinese mainland market and the official opening of its new headquarters in Shanghai. The NFT, “Big Mac Cube,” is a three-dimensional digital token inspired by McDonald’s branding and the shape of its new headquarters building.  Fast […]

The Postal Savings Bank of China has become one of the appointed research and development institutions for the electronic Chinese yuan (e-CNY), allowing the bank to hold a first-mover advantage in the competition for position in China’s electronic payments market, its owner, the state-owned China Post Group, said in an article. Fast facts The bank […]

According to a Shenzhen state-owned newspaper, Shenzhen now has nearly 120,000 e-CNY pilot program application scenarios, ranking first in the country. Fast facts In October last year, Hong Kong’s neighboring city, Shenzhen, became the first e-CNY pilot city, which rolled out the first batch of 50,000 e-CNY red packets with a total value of 10 […]

A South Korean tech company is partnering with the largest organization of professional journalists in the country to develop digital tools and techniques to tackle problems in the journalism industry. Fast facts Media technology developer PUBLISH recently announced signing a memorandum of understanding (MOU) with the Journalists Association of Korea (JAK), which represents over 11,000 […]

Australians are now able to buy a house using cryptocurrency, as Lloyds Auctions Australia has announced it is accepting Bitcoin for purchases of real estate in online auctions, according to a press release shared with Forkast.News. Fast facts While Covid lockdowns impacted how in-person real estate auctions could take place in Australia, Lloyds began looking […]

China’s Blockchain-based Service Network (BSN) — a public-private nationwide infrastructure project to spur mass adoption of blockchain technology — is setting up more portals overseas, as it moves a step closer to more international exposure. Fast facts Red Date Technology, the company China tapped to manage its BSN, announced today that it is working to […]

China’s eastern province of Jiangsu today announced that it is cracking down on covert cryptocurrency mining activities, in response to the notice jointly issued two weeks ago by the National Development and Reform Commission (NDRC) and several other public security and information technology authorities. Fast facts The Jiangsu Communications Administration said it is strengthening its […]

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

As South Korea’s ongoing efforts at regulating cryptocurrency continues, a top financial services official said DeFi (decentralized finance) businesses need legal review before they are officially recognized as providers of financial services such as loan-for-consumption. Fast facts At the National Assembly’s annual review, lawmaker Oh Gi-hyoung, member of the National Policy Committee, asked Jeong Eun-bo, Korea’s Financial […]