Articles filed under

Asia-Pacific

118 articles

June 2021

Australian Tax Office issues reminder of cryptocurrency tax obligations

ATO will contact 400,000 Australian crypto holders over concerns that they may not be fully aware of their crypto tax obligations. Tax cheats beware!

Thailand warns over DeFi; India green lights cryptos | The Daily Forkast

Thailand becomes one of the first governments to attempt DeFi regulation as India’s RBI clarifies that banking ban no longer exists.

FastForkast headlines

Cryptocurrency behind spike in illegal gambling, Asian racing body says

S. Korean banks process US$57B linked to crypto exchanges

Robinhood’s Chinese rivals to launch crypto services abroad

Thailand’s DeFi sector targeted for regulation over coin offerings

Singapore’s DBS Bank launches its first digital bond

Indian central bank in climbdown over crypto ban

June 2021

Privacy coin Monero surges as US and Australia target crypto gains

Privacy-centric coins like Monero, ZCash and Dash are seeing big price rises as the IRS and ATO issue warnings on taxable crypto transactions.

Crypto crimes surge in Asia; Bitcoin cause for divorce in S. Korea | The Daily Forkast

Crypto crime is surging in Asia while Bitcoin is being blamed for splitting up married couples in South Korea.

China crypto crackdown fallout; Politician turns influencer in Korea | The Daily Forkast

China’s miners prepare for migration and Hong Kong reacts to possible retail ban. Meanwhile a South Korean governor becomes a crypto influencer.

China’s cryptocurrency mining sector becomes target of fresh clampdown 

Chinese authorities’ latest regulatory offensive against the crypto industry may not be as bad for the sector as it appears.

What will happen if Hong Kong bans retail investors from trading crypto?

Hong Kong is poised to ban small investors from buying cryptocurrencies, while making exchanges get licences. Industry experts discuss how this might play out. 
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Hong Kong split on retail crypto ban; Korean conglomerate on custody | The Daily Forkast

Hong Kong reacts to the region’s pending legislation on limiting crypto investment to professional investors while a conglomerate enters South Korea’s crypto custody scene.

Bitcoin dominance rises to 45% as altcoins crash over China crypto crackdown

As the crypto sell-off continued over the weekend, Bitcoin once again proved its resilience relative to other cryptocurrencies in not bleeding as much.

What’s really behind the Bitcoin market crash? Tether USDT lifts veil on reserves. Facebook-backed Diem going to California.

Other top blockchain and cryptocurrency news: BlockFi’s accidental BTC millionaires. China’s Inner Mongolia asks citizens to report illegal crypto mining.

Bitcoin drops below US$40,000; China sends another crypto warning | The Daily Forkast

China’s newest warning against crypto sends market into nosedive and Bitcoin dips below US$40,000 for the first time since February.

Will Singapore launch a people’s digital currency — and support DeFi?

As Singapore builds Project Dunbar, a cross-border multiple-CBDC platform, its government dives into DeFi learning and ponders a CBDC for the masses.

China Merchants Bank launches US$50M DeFi, dApp fund with Nervos

Privately owned Chinese lender continues to target blockchain opportunities as it remains shut out of Beijing’s digital yuan project.

India’s demand for crypto ‘growing like crazy’ since ban attempt

It’s only a matter of time that digital currency ‘is going to overshadow all the other forms of money,’ says Neeraj Khandelwal of CoinDCX.

S. Korea facing backlash for banning police from owning crypto

To improve public trust, South Korea is barring police officers from buying cryptocurrency. Could this presage a broader clampdown on crypto in the country?

Binance under fire; Internet giant Naver takes on South Korea’s CBDC | The Daily Forkast

The Asian crypto industry reacts to the US Department of Justice and Internal Revenue Service money laundering probe into Binance. In South Korea, the nation’s largest internet company plans to join Bank of Korea’s CBDC ventures. Over in Singapore, Southeast Asia’s largest lender DBS Bank expands its crypto services for its private bank clients by […]

China’s new digital yuan wallet with fingerprint ID causes privacy worries

Chutian Dragon and IDEX Biometrics offer DCEP digital currency wallets with fingerprint recognition. The companies say the feature enhances security.

FTX CEO on tokenized stocks; South Korean police officers want crypto | The Daily Forkast

FTX CEO Sam Bankman-Fried joins Forkast.News to share how the exchange is able to provide new financial products while still satisfying regulators.

How S. Korea and Singapore are grappling with crypto investor protection

As retail interest in crypto grows, countries around the world are grappling with consumer protection. Asia offers a window into the array of policy responses.
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New Asian investment portfolio offers exposure to Canada’s Bitcoin ETFs

Aqumon’s SmartGlobalC aims to meet the rapidly growing demand for Bitcoin exposure for traditional investment portfolios in Asia.

How R3 is growing Corda’s reach with China’s Blockchain Services Network

R3’s Corda — one of the most widely used blockchains of Corporate America — is coming to China. What does it mean for the US and Europe?

Chia mining craze is causing massive hard drive shortages in China

The new self-proclaimed eco-friendly crypto leverages unused disk space — but Chia miners are buying out new hard drives and equipment instead.

“Everyone has been bitten by the Chia bug”; Indian banks puzzle crypto | The Daily Forkast

The Chia craze keeps on going while the Indian crypto industry speaks out against banks blocking crypto transactions.

Dogecoin keeps on barking; Mining for Chia heats up | The Daily Forkast

Dogecoin breaks another ATH while Chinese electronics vendors say that Chia is the hottest mining project in the mainland.

5 US digital dollar pilots launching to chase China’s CBDC lead

The private sector-led Digital Dollar Project is planning CBDC pilots for the US. How are central bank digital currency efforts and progress different in Asia?

China’s banks unveil ATM for foreigners to use digital yuan

China’s DCEP digital currency, not yet officially launched, take another leap forward with unveiling of prototype ATMs that convert foreign money to e-CNY.

As DeFi swells past US$140 billion, FATF stokes worries over KYC/AML

Fast-growing DeFi — still a largely unregulated industry — gives FATF an earful over its proposed ‘travel rule’ and expanded anti-money laundering rules.

Ethereum breaks new records; South Korea split on crypto tax | The Daily Forkast

As Ethereum continues to soar to new all-time highs, South Korean crypto investors express mix sentiments on crypto tax.

Why Binance stock tokens are drawing regulatory scrutiny

Are Binance stock tokens in Tesla, Coinbase and Apple mere tokens or company shares by a different name? Securities regulators are taking a close look.

FastForkast headlines

Indian central bank in climbdown over crypto ban

South Korean finance watchdog set to take over crypto regulation

Digital yuan is not a surveillance tool, says Chinese ex-central bank director

Chinese crypto traders dodge clampdown in move to OTC, P2P platforms

Bitcoin mining difficulty drops 16% amid Chinese regulatory headwinds

Indian lenders cling to overturned central bank crypto ban as customers fume

Huge cryptocurrency scam boosts S. Korea’s crypto crime losses to US$5B

Hong Kong crypto exchanges seek to wash hands of dirty power problem

Chinese province’s hydropower gives hope to crypto miners following crackdown elsewhere

Tokenization to transform financial system, DBS Bank CEO says

Hong Kong treasury chief says new rules will boost crypto despite investment threshold

Crypto miner BitDeer blocks China users as Beijing gets tough on sector

BIT Mining to invest US$9M in crypto mining in Kazakhstan

Inner Mongolia takes steppes to tighten crypto mining ban

Indonesia to launch digital rupiah as online payments soar

Marathon to host 73,000 Bitcoin miners in Texas as Chinese exodus looms

South Korea forges ahead on its digital currency development

China announces plan to crack down on Bitcoin mining

Hong Kong to close crypto exchanges to all but ‘professional investors’

Singapore’s DBS Bank says no investment discussion can omit Bitcoin

S. Korean crypto exchange Bithumb distances itself from scandal-hit ex-chairman

Meitu, Chinese crypto-invested firms’ stock slammed by Bitcoin crash

Thailand’s The Brooker Group still bullish on crypto, planning US$3M investment in DeFi

South Korea switches course on crypto amid backlash over regulator’s remarks

Illegal crypto mining in Inner Mongolia’s crosshairs as reporting hotline set up

Australia seeks fresh submissions on cryptocurrency rules

RippleNet ties up with Egyptian bank, UAE payment firm for funds transfers

China-based SOS announces activation of 6,039 mining rigs for ETH, BTC

China’s new crypto ban shouldn’t stoke fear, says Conflux network co-founder

China shuts banks, finance firms out of cryptocurrency business

Deutsche, STACS wrap up Singapore DLT test project for tokenized securities

UAE study shows growing appetite for cryptocurrencies

FinTech group: ‘digital footprints’ could help underbanked Philippines

Thailand tightens grip on cryptocurrency, increases KYC requirements

Vietnam faces hard drive shortage due to Chia mining craze in China

Singapore’s US$31 million RegTech grant to boost crypto compliance

Binance Charity Fund donates to India’s COVID-19 fight