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118 articles

December 2022

Innovation vs Regulation

Innovation and regulation are mutually exclusive in the world of crypto – and in the aftermath of the FTX collapse, getting the balance right is key.

Digital ID Ready?

As the Philippine government ties to roll out a hugely ambitious ID system, we take a look at how blockchain could make data more secure.

It’s time for more institutions to adopt blockchain and crypto: Opinion

Despite the myriad benefits of blockchain and cryptocurrency, institutional interest remains mixed in Asia Pacific. What lessons should the industry learn from 2022 to overcome the barriers to adoption?

FastForkast headlines

S.Korea central bank puts hand up to regulate stablecoins

Majority of ‘wealthy’ South Koreans say no plan to invest in crypto, cite lack of trust

Australian crypto exchange Swyftx cuts 40% of jobs amid fallout from FTX collapse

Wemade in talks with Binance for custody of WEMIX cryptocurrency

S.Korea court to settle MIR4 maker Wemade, WEMIX legal battle

S. Korea energy conglomerate builds US$84 mln metaverse fund

FTX collapse will blunt activities of North Korea hackers, analyst says

South Korea’s Shinhan Bank starts ‘metaverse’ services, according to local media

Indonesia central bank releases whitepaper on digital rupiah, to develop wholesale CBDC first

December 2022

S.Korea requests warrant to bring Terra-Luna cofounder Daniel Shin into custody

A court in South Korea will review if prosecutors are allowed to arrest and bring Terraform cofounder Daniel Shin and seven others into custody, for charges including fraud.

S. Korea’s Wemade files injunction against country’s top 4 crypto exchanges

The blockchain game maker fights delisting of its symbolic WEMIX crypto token.

Blockchain is transforming capital markets, and Singapore is leading the way: Opinion

Asset tokenization and DeFi hold tremendous potential for the finance sector, writes Han Kwee Juan of DBS Bank. Here’s how the Singaporean government is at the forefront of change.

S.Korean Wemade’s stock falls 30% after exchanges announce WEMIX token delisting; CEO blames Upbit exchange

The delisting poses a great obstacle to the game maker’s growing blockchain empire, while Wemade’s CEO blames the crypto exchange

Chinese mafia forcing Filipinos to work for crypto scams, says Philippine Senator

The organized crime gangs victimize both the trafficked and those that get scammed, according to the official

S.Korea’s top regulator says digital assets, virtual assets are different

While the crypto industry grapples with the definition of blockchain-based digital tokens, South Korea wants to nail down the terminology.

Australia to revamp cryptocurrency rules after FTX collapse

The country is one of the first to say it will act to set up regulations to prevent a collapse similar to FTX, which filed for bankruptcy protection and froze the assets of hundreds of thousands of investors.

How Hong Kong and Singapore can make Asia the center of crypto’s future

Yes, there is rivalry between the two global finance hubs. But their strengths are also complementary for Asia to become an even bigger crypto powerhouse, writes Lily Z. King.

Singapore’s Temasek writes off US$275 mln in FTX

Temasek says its belief in Sam Bankman-Fried may have been ‘misplaced.’

FTX collapse leaves investors jittery over crypto contagion

Top blockchain and crypto news: FTX fallout spooks sector.’s $400 million ‘accident.’ Hong Kong’s new digital asset drive.

Terra cofounder Daniel Shin’s Chai Corp. raided by S.Korean authorities

Daniel Shin’s Chai Corporation, which partnered with Terraform Labs in 2019, is accused of violating capital market rules in past dealings with Terra.

Binance set to swallow FTX as run on exchange allows CZ to swoop

Top blockchain and crypto news: FTX concedes defeat in long battle with Binance. Crypto eyes Congress races. Hong Kong U-turns on digital assets.

Stablecoin, CBDC issues take center stage at Singapore’s Future of Finance Forum

Central bank digital currencies draw fire over inflation, privacy and threat to innovation, as questions raised over status of stablecoins in digital asset ecosystem.

Hong Kong needs engineering talent to reclaim role as digital asset hub

Hong Kong’s latest FinTech policies indicate it wants to reclaim its position as a hub for cryptocurrencies and digital assets, but that means finding the right people for the job.

The big problem with Web3

People have been waiting seemingly forever for the arrival of Web3. So why hasn’t it changed our lives yet?

Curiosity ‘always’ fuels innovation, says blockchain co-creator Stuart Haber 

U.S. computer scientist Stuart Haber, recognized with Scott Stornetta as the co-inventor of blockchain, says he is excited to see the evolution of the technology, not only in the financial sector, but also in entertainment, business, and technology industries.

Singapore vs Hong Kong

Hong Kong and Singapore are now locked in a battle over the future of crypto in Asia – but who will emerge victorious?

Singapore fintech fest raises profile of industry that wants to ‘disappear’

Digital asset and blockchain highlights of event draw huge crowds, even as industry figures say they want the technology behind them to become just a normal component of the finance system.

FastForkast headlines

Indonesia central bank releases whitepaper on digital rupiah, to develop wholesale CBDC first

Binance re-enters Japan with acquisition of regulated Sakura Exchange BitCoin

Philippine Blockchain Week: Blockchain adoption struggles in the Philippines as businesses ‘invest to survive’

Swiss crypto bank SEBA Bank expands to Hong Kong

S. Korea releases ethical guidelines for the metaverse

Markets: Bitcoin, Ether gain as China eases Covid rules amid protests; Dogecoin jumps

India to roll out retail CBDC on Dec. 1

U.S., S. Korea applied for over 75% of world’s metaverse patents: report

Australian fintech firm launches new AUD stablecoin, AUDE

Singapore’s Matrixport eyes US$100 mln fundraiser at US$1.5 bln valuation

Singapore police say they are investigating crypto lender Hodlnaut on fraud allegations

Japan’s central bank to test digital yen with three megabanks: report

India’s CoinSwitch launches platform to enable multi-exchange trading with single login

Singapore’s DBS bank completes intraday repurchase transaction on JPMorgan’s blockchain-based platform

S.Korea’s Ifland metaverse launches globally in 49 countries

Regulators should seek greater disclosure from stablecoin issuers: HK monetary authority researchers

Hong Kong residents spend most time online globally: NordVPN survey

Thai crypto exchange eyes Hong Kong for possible public share sale in 2024: report

FTX Japan readies for resumption of withdrawals by end-2022: report

Singapore’s central bank says not possible to protect local users from FTX fallout

S. Korea mulls requirement for digital asset exchanges to compensate sudden withdrawal suspension

S.Korea examines exchange native tokens after FTX meltdown

South Korea, Singapore, Japan biggest users of FTX pre-collapse, says CoinGecko

HK crypto over-the-counter service Genesis Block to end trading: Reuters

Terra cofounder Daniel Shin denies $100 mln LUNA cashout: report

FTX contagion in S.Korea: GOPAX halts Genesis-backed DeFi

Indian crypto exchange CoinSwitch says proof of reserves shows sufficient reserves to match clients’ stake

Korbit is first South Korean exchange to disclose full crypto reserves, post-FTX debacle

Hong Kong said it remains upbeat on digital assets after FTX debacle

AAX crypto exchange says it is suspending withdrawals amid FTX fallout

Singapore’s central bank partners New York Fed to explore wholesale CBDCs

Japan’s NTT Docomo to develop Web 3.0 with Accenture, Astar Network

Japan’s Web 3.0 lawmaker urges further easing of country’s crypto regulation

Indian crypto exchange WazirX introduces profit, loss function

South Korea’s online KakaoBank to open accounts for Coinone exchange users this month

Crypto asset manager HashKey gets Singapore’s in-principle license

India forms new crypto advocacy body with Coinbase, Polygon

Standard Chartered invests in Partior blockchain payments platform

Singapore still aims to be a crypto hub, minus speculative trading

Singapore’s Project Ubin+ to study cross-border FX with CBDCs

Binance will re-enter South Korea’s crypto market, CZ says

India’s finance minister urges G20 nations to come on board to regulate crypto