Articles filed under

Asia-Pacific

126 articles

May 2021

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.

FinTech group: ‘digital footprints’ could help underbanked Philippines

Filipino-owned assets management company SAM Digital Technologies says adoption of blockchain could promote ‘digital footprints’ in the island nation. The country’s central bank is also interested in the technology.

Thailand tightens grip on cryptocurrency, increases KYC requirements

Thailand has issued fresh orders to tighten regulations on new cryptocurrency accounts, requiring customers to appear in person.

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.

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

Large capacity hard drives are selling like hotcakes in Vietnam as locals capitalize on China’s demand for Chia mining power.

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

The RegTech grant, although not directed towards cryptocurrency, could have a profound impact on the industry.

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.

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

The charity arm of Binance is sending 175 oxygen connectors to India to aid in the coronavirus relief effort.

April 2021

Singapore’s DBS Bank reports US$60 million crypto under custody

DBS Bank says it has over US$60 million in crypto under custody and plans to expand trading hours to 24/7.

How open DeFi markets in Southeast Asia can drive financial inclusion

The ASEAN region has 290 million unbanked, and only 18% have access to credit. Here’s how decentralized finance (DeFi) can lift lives via mobile phones.

China’s crypto miners make hard choices to meet climate goals

With Inner Mongolia banning crypto-mining and Xinjiang expected to soon follow, China’s crypto miners are turning to green energy or moving overseas.

JPMorgan, DBS Bank and Temasek partner on ‘game-changer’ blockchain for payments

JPMorgan, DBS Bank and Temasek jointly form a new company, Partior, to develop a blockchain platform for cross-border payments and settlements.

How to balance crypto investor protection and innovation in Hong Kong

US and Singapore have licensing laws that give investors more confidence in crypto firms. Stephen Richardson of Fireblocks urges Hong Kong to follow suit.

Japan sees record crypto deposits, nearly 7 times more than last year

Japan’s regulated crypto trading breaks new records in a land known to be the world’s most crypto-averse. Is the tide turning for crypto adoption in Japan?

Nexon bags $100 million in Bitcoin; Inner Mongolia crypto mining exodus | The Daily Forkast

Nexon added 1,717 Bitcoins into its corporate treasury while deadline for Inner Mongolia’s closure of crypto mining operations approaches.

Binance dives into NFT; S.Korea’s FSC checks staff for crypto trading | The Daily Forkast

Binance announces its upcoming launch of an NFT marketplace while South Korean regulator asks staff to disclose personal crypto investments.

Ant Group shares exclusive database tech to grow China’s CBDC | The Daily Forkast

China’s internet giant Ant Group shares its OceanBase database for the e-CNY project. More investors try out DeFi platform PancakeSwap.

Taiwan set to roll out new AML regulations for crypto exchanges

Taiwan has enacted anti-money laundering regulations for cryptocurrency exchanges effective July 1. What will this mean for Taiwan’s growing crypto scene?

R3 Corda helping Thailand’s case for international trade dark horse

Thailand’s crypto adoption is often overlooked, but one of its largest commercial banks has been leveraging permissioned blockchain Corda of R3 to digitize trade finance in the Fourth Industrial Revolution.

South Korean cryptocurrency industry claps back; Bitcoin’s nosedive | The Daily Forkast

Crypto investors in South Korea stir petitions to unseat the nation’s financial watchdog chief for his anti-crypto remarks.

Korean crypto advocates cry foul and demand FSC chair’s resignation

Angered by cryptocurrency tax laws and a government official’s remarks on crypto investing, over 51,000 South Koreans are trying to push back via petitions.
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China tightens cryptocurrency oversight with new regulations

Beijing’s new warning against cryptocurrency comes days before regulations aimed at preventing illegal crypto fundraising take effect May 1.

How Singapore transformed from fishing village to crypto powerhouse

The Lion City’s status as Asia’s crypto haven was no accident, writes Shaun Djie of Digix. What can other countries learn from Singapore’s fintech success?

ASEAN+1 pledge to advance blockchain; Paypal to launch wallet in China | The Daily Forkast

Six blockchain groups in the Asia-Pacific form a consortium, aiming to champion blockchain advocacy in the region.

How China’s DCEP digital yuan could reshape geopolitics and change the world

One year after China unveiled a digital currency via testing, its potential for displacing dollar diplomacy is becoming more understood. Is the US worried yet?

New ASEAN Blockchain Consortium forms to champion blockchain

Blockchain organizations from Australia and five Southeast Asian nations join forces for blockchain advocacy, public education and talent development.

Dogecoin frenzy spreads in Asia; Indian exchange logs 15x traffic | The Daily Forkast

Asia adds to global Dogecoin froth, investors buy into the meme-currency ahead of US hours. South Korea kicks off a crackdown on illicit crypto use.

China calls crypto an ‘investment’; Crypto demand bounces back in Asia

China gives the “alternative investment” label to crypto at this year’s Boao Forum for Asia, and hints at reserving a seat for digital assets in the country’s digital economy. Meanwhile, exchanges in Asia recover from crypto’s weekend price crash and see spikes in Bitcoin long orders. We’ll have more on that story — and other […]

Crypto assets should be regulated as “alternative investments”, China’s central bank officials said

China’s central bank is exploring a new stance towards Bitcoin and other cryptocurrencies, now calling them investment vehicles – but not currency

One year after China began testing its digital yuan, China watchers wonder how close it is to launching?

Look for nifty DCEP wallets to make a debut at the 2022 Beijing Olympics

Japan explores digital currency but is loathe to commit

Despite launching CBDC research, Bank of Japan is still not sure nation needs digital yen. Experts fear the caution could cost Japan its competitive edge.

Ripple partners with Novatti to use XRP for remittances in Asia Pacific

Despite its legal troubles in the US, Ripple expands XRP’s uses in Southeast Asia’s lucrative and fast-growing international money transfer market.

Binance Lists Coinbase Stock Token; Altcoins Reign Asian Crypto | The Daily Forkast

Bitcoin booms to new all-time highs but Asian retail investors are wooed by higher gains in altcoins while Binance tokenizes Coinbase.

Bitcoin skyrockets past US$64,000, hits another all-time high

Ahead of Coinbase’s Nasdaq listing, Bitcoin surged to new highs in Asian trading hours. Ether, ADA and DOGE also reached new ATHs as altcoins soared.

Asian DeFi Picks Up Steam; Hong Kong Scammers Use Crypto As Bait | The Daily Forkast

XRP joins Wanchain’s DeFi ventures while Thai mobile bank explores the financial experiment. In Hong Kong, local police bust crypto scammers.

Meitu buys more crypto; Hong Kong, Singapore tease NFT platforms | The Daily Forkast

Meitu adds to its crypto treasury while Singapore and Hong Kong gear up for the NFT craze.

Asian governments urge ‘extreme caution’ before buying cryptocurrency

As Bitcoin and crypto market swells beyond $2 trillion, even crypto-friendly Singapore is warning the public about risks. Are more regulations coming?

New art and fashion NFT platforms coming to Hong Kong, Singapore

Welcome to crypto’s latest catwalk. Publisher of Vogue Singapore and a Hong Kong exchange unveil plans to turn up the heat on Asia’s NFT market.

Korea’s BTC Premium Nosedives; Officials Take Aim at Crypto | The Daily Forkast

Government dismay at crypto frenzy in South Korea brings the country’s Bitcoin premium down a few notches. But despite threats and policy chills, it’s only got more South Koreans interested in the dizzying crypto world.

Bitcoin’s ‘kimchi premium’ plummets, Upbit exchange suspends services

After surging to 21%, the higher prices that South Koreans pay for Bitcoin are now plunging. What role did Korean regulators and overseas traders play?

Filecoin’s crypto top 10 stint. Coinbase wows with earnings for Nasdaq debut. Japan opens door to CBDC.

Other top blockchain and cryptocurrency news: Hong Kong is new test bed for China’s e-CNY digital currency. Decentraland’s token bridge to Polygon.

Korea’s Bitcoin kimchi premium explodes as Kakao rises on Upbit rumors

Are South Korea’s new cryptocurrency exchange regulations skewing its crypto market? Meanwhile, Upbit’s parent Dunamu surges on NYSE listing rumors.

India mandates new disclosure rules for cryptocurrency companies

Starting today, India’s crypto firms must report all cryptocurrency transactions to the government. What does this mean for India’s proposed crypto ban?
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March 2021

China opens digital currency door to all. NFTs go wild. Is Singapore’s Temasek buying virgin Bitcoin?

Other top blockchain and cryptocurrency news: Bitcoin prices rise as BTC and ETH options expire. DeFi market steps up as Elon Musk says, ‘Don’t defy DeFi.’

What do Hong Kong’s crypto laws mean for exchanges and investors?

HashKey Group’s Angelina Kwan, a former regulator who helped write laws relevant to the crypto industry, also explains why Hong Kong leads the world in fintech regulations.

Sailing around the world for digital gold with the Liberty Bitcoin Cup

Young sailors are competing to win one Bitcoin in the Liberty Bitcoin Cup — a youth version of the America’s Cup — heading to Hong Kong in early 2022.

China writes blockchain and digital currency into nation’s future

China’s new five-year plan — its blueprint for development — pours resources into ‘new infrastructure’ like blockchain technology and DCEP’s digital yuan.

World’s first major crypto art show opens in Beijing

Headlined by crypto art superstars Beeple and Robert Alice, the in-person exhibit also features works by Chinese artists. Next stop: Shanghai.

How blockchain can power the growth of green finance

As interest in green bonds grow around the world, Asia is emerging as a hotbed of sustainable finance. Here’s why China will be leading the way.

KPMG: Virtual asset service providers ready to professionalize and grow

New KPMG report outlines opportunities for investors as well as traditional banks with the rise of VASPs like cryptocurrency exchanges and custody services.

Bithumb, OKEx roiled by Korea’s new law. Why Thailand hates baht-pegged stablecoins. What’s behind Metakovan’s NFT art buys?

Other top blockchain and crypto news: Japan’s SBI Crypto opens mining pool to public. In China, more companies turn to crypto to boost bottom line.

OKEx to shut its crypto exchange in Korea as new AML laws take effect

OKEx will soon follow Binance in leaving South Korea’s cryptocurrency exchange market. Is this what FATF and Korean regulators intended?

Hong Kong now exploring retail CBDC in upcoming Project Aurum

Hong Kong Monetary Authority intensifies its CBDC efforts with a new study into ‘hybrid’ digital currencies and private CBDC-backed stablecoins.

Bank of Thailand outlines stablecoins policy as it explores retail CBDC

Thailand’s central bank says it is ‘open’ to considering stablecoins but declares Terra’s THT to be illegal. What does this mean for Tether or USD Coin?

Who is really leading the global blockchain patent race?

Boosted by state incentives, companies in China are filing more blockchain patent applications than anywhere else. But how many patents got awarded?

Japan to start digital yen tests as CBDCs gain momentum across Asia

As central banks in China, Korea, Hong Kong and Thailand ramp up CBDC efforts, Bank of Japan is now planning a proof of concept for a digital currency.

Guide to Cardano and ADA: What is Cardano, and why it matters

Cardano’s ADA, up by 7,400% since last year, is now the 3rd most popular cryptocurrency in the world. Why is it called a ‘Ethereum killer’? Let’s find out.

Are bitcoin ETFs coming soon to America? Korea’s Shinhan Bank joins CBDC pilot. Argo seeks greener crypto pastures in Texas.

Other top blockchain and cryptocurrency news: As China tightens vise on crypto, Beijing to host 60-artist crypto art exhibition featuring NFT superstar Beeple.

Jack Dorsey cashing in on NFT frenzy. Ripple turns to CBDCs amid XRP’s legal troubles. Is India rethinking a crypto ban?

Other top blockchain and cryptocurrency news: Ethereum takes up with Amazon, plans gas fee changes. China likely to increase blockchain spending.

Does India have room for both bitcoin and a CBDC?

As debate rages over whether India should ban private cryptos in favor of a central bank digital currency, a case could be made that India needs both.

China’s bitcoin miners flee Inner Mongolia ahead of crypto mining ban

One of world’s biggest bitcoin-producing regions will soon ban cryptocurrency mining to meet China’s clean air goals. Where will all those miners go?

Coinbase to go public on Nasdaq. Cardano upgrades amid ADA price rally. Beeple’s pop art riding high on NFT wave.

Other top blockchain and cryptocurrency news: Goldman Sachs, more big banks line up behind bitcoin. Short-sellers probe crypto miners in China.

China’s DCEP project launches biggest digital yuan test yet

As China widens the e-CNY’s testing to Chengdu, the future of WeChat Pay and Alipay becomes complicated. What are the new CBDC’s pros and cons?

Cardano transitions to multi-asset blockchain amid ADA price surge

Cardano blockchain, a so-called ‘Ethereum killer,’ completes its Mary hard fork upgrade as ADA becomes 3rd largest cryptocurrency behind bitcoin and ether.

Non-crypto firms in China jump into bitcoin mining to lift fortunes

Inspired by bitcoin’s boom, companies with no business in crypto are pivoting to cryptocurrency mining. A New York investors lawsuit offers a cautionary tale.

February 2021

The brief, meteoric rise of crypto Clubhouse in China

Now that China’s censors are blocking Clubhouse, what are the popular audio networking app’s mainland members doing? VPNs are the new velvet ropes.
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4 central banks and BIS exploring CBDC bridge for Asia and Middle East

China, UAE, Hong Kong, Thailand and Bank for International Settlements collaborate on ‘m-CBDC Bridge’ digital currency project for cross-border payments.

In Singapore, bitcoin is challenging gold as a store of value

Eugene Ng of Gemini, the cryptocurrency exchange that recently expanded in Singapore, explains why the Lion City is good for doing crypto business.

Hong Kong plans to ban retail investors from trading cryptocurrency

Industry insiders warn that proposed rule to allow only ‘professional investors’ to buy and sell crypto could drive companies to crypto-friendlier shores.