March 2023
G7 nations set to push for stricter cryptocurrency regulations at Japan summit in May
The Group of Seven industrial countries will discuss tougher rules on cryptocurrencies to improve transparency, protect investors.
Hong Kong blockchain initiatives natural evolution for finance hub, says Signum Digital CEO
Hong Kong’s new crypto licensing regime isn’t the only bullish sign for the city’s digital asset industry, says Signum Digital, the first company to win a preliminary license to handle securitized tokens in the city.
Hong Kong may face backlog in virtual asset license applications as demand grows, former SFC regulator says
Angelina Kwan, who helped shape early Hong Kong automated trading services and internet trading regulation, told Forkast the upcoming virtual asset licensing regime is almost identical to that for traditional financial institutions.
Hong Kong poised for ambitious changes
Hong Kong has opened its doors to the world once more, and it spared no time hosting blockchain and web3 focused summits.
South Korea arrests former Coinone exchange official for alleged crypto-listing bribery
A former employee of the Coinone exchange was arrested Tuesday on charges of accepting bribes in exchange for listing certain cryptocurrencies.
Bitget invests US$30 mln in BitKeep wallet, becomes controlling shareholder
Seychelles-based cryptocurrency exchange Bitget said it has invested US$30 million in decentralized multi-chain wallet BitKeep to become its controlling shareholder.
K-pop star G-Dragon launches NFT on OpenSea with Fandom Studio, BNB Chain
South Korean singer G-Dragon has launched an NFT collection on OpenSea in collaboration with Fandom Studio.
Indian crypto exchange WazirX blocks over 2,400 accounts in 6 months
WazirX, India’s largest crypto exchange by trade volume, has blacklisted over 2,431 accounts between October 2022 and March 2023, based on its internal monitoring process as well as under the direction of law enforcement agencies (LEA).
Bitcoin, Ether extend losses; all eyes on U.S. interest rates
Bitcoin and Ether fell in Tuesday afternoon trade in Asia after rallying through the past week, while financial authorities injected cash into markets to ease liquidity pressures and took other steps to address concerns over a banking sector crisis in the U.S. and Europe.
Singapore to publish crypto, stablecoin consultation feedback by mid-2023
The Monetary Authority of Singapore (MAS) aims to publish cryptocurrency and stablecoin consultations feedback by the middle of this year, it said Monday.
Over 80 Web3 firms in line to set up shop in HK, ahead of crypto regulations taking effect in June
Over 80 foreign and Mainland China companies have expressed their interest in establishing a Web3 company in Hong Kong, ahead of new crypto regulations that will take effect from June
Bitcoin rises past US$28,000, most other top 10 cryptos gain
Bitcoin traded above US$28,000 on Monday afternoon in Asia, a gain of 25% over last week, as a banking crisis in the U.S. and Europe prompted traders to see Bitcoin as a safe haven.
Crypto data provider Kaiko to move Asia HQ to Hong Kong from Singapore: Bloomberg
Paris-based Kaiko will move its Asian headquarters to Hong Kong as it sees growing crypto-related opportunities in the city.
Bithumb executive faces investigation over alleged bribery in South Korean crypto listing
South Korean prosecutors are investigating Lee Sang-jun, the CEO of Bithumb’s holding company, for alleged bribery in listing certain tokens on the platform.
Signum Digital says it won first approval to offer security tokens in Hong Kong
Signum Digital said it’s the first company to win preliminary approval in Hong Kong to operate a platform to trade security tokens.
Thailand Turns to Crypto
Thailand’s recent crypto tax waiver announcement could be a gamechanger in boosting Thailand’s economy.
India, UAE to collaborate on cross-border central bank digital currencies
The Indian central bank and the UAE will jointly run pilot programs on their central bank digital currencies, according to the Reserve Bank of India.
Japan’s Web3 Era
Japan’s been a little behind in the Web3 space, but their new Metaverse Economic Zone could be a game changer.
India imposes money laundering regulations on crypto industry
India’s crime fighting agencies have been investigating crypto exchanges and individuals on money laundering charges and have now put the onus on exchanges to report suspicious transactions.
Bitcoin, Ether extend gains as U.S. regulators take charge of banking industry turmoil
Bitcoin and Ether rose the most in the top 10 non-stablecoin cryptocurrencies by market capitalization on Tuesday afternoon in Asia. Cryptocurrencies have been on a rebound since U.S. regulators took charge of the failures in the banking industry and moved to protect deposits across crypto-linked banks.
Bitcoin, Ether fall amid interest rate hike fears, Silvergate liquidation; Forkast NFT 500 index slips 0.79%
Bitcoin and Ether fell in evening trading in Asia Thursday, with XRP the sole gainer in 24 hours among the top 10 non-stablecoin cryptocurrencies by market cap.
South Korea pours US$51 million into metaverse projects
South Korea is investing 27.7 billion Korean won (US$21 million) into local services looking to utilize the metaverse, the ministry of science announced Wednesday, following Tuesday’s news that it would establish a US$30 million metaverse fund to help startups expand their businesses. See related article: Japanese tech, finance firms sign pact to build metaverse economic […]
How Singapore’s crypto ambitions are taking shape and what other nations can learn
Unique in the world, Singapore is a big investor and player in digital assets while advancing regulations that favor institutions over individual crypto users, writes Danny Chong of Tranchess.
Thailand to offer tax breaks to firms issuing investment tokens
The Thai Finance Ministry will waive corporate income tax and value-added tax for firms that conduct initial coin offerings (ICOs), according to a spokesperson.
Bitcoin, Ether fall amid U.S. Fed chair warning of more interest rate hikes; Forkast NFT 500 index slips 0.65%
Bitcoin and Ether fell in afternoon trading in Asia on Wednesday, with XRP the sole gainer among the top 10 non-stablecoin cryptocurrencies by market cap.
Bitcoin, Ether inch up as investors await U.S. Fed chair’s comments; Forkast NFT 500 index dips 0.44%
Bitcoin and Ether gained in Tuesday afternoon trade in Asia, along with most other top 10 non-stablecoin cryptocurrencies. Polygon’s Matic token led gains followed by XRP and Dogecoin.
Hong Kong’s crypto scam losses in 2022 more than double from 2021: SCMP
Crypto scams accounted for over half of Hong Kong’s losses from computer-related crimes in 2022.
South Korea reports US$4.3 billion in illegal foreign transactions involving cryptocurrencies
The Korea Customs Service has identified US$4.3 billion worth of illegal foreign currency transactions last year involving cryptocurrencies.
Singapore police begin probe linked to Do Kwon’s Terraform Labs: Bloomberg
Singapore’s police have begun investigations linked to Terraform Labs that was co-founded by fugitive Do Kwon, according to a Bloomberg report.
Bitcoin gains, all other top 10 cryptos in the red amid Silvergate fallout
Bitcoin gained in Monday afternoon trade in Asia while all other top 10 non-stablecoin cryptocurrencies by market capitalization posted losses.
Australia’s central bank identifies CBDC use cases as it prepares pilot launch
Australia has outlined potential use cases and providers for a central bank digital currency (CBDC), with a pilot program to be launched in the coming months.
Japanese banks to launch, test stablecoins on ‘Japan Open Chain’
Three major banks in Japan will issue stablecoins on an Ethereum-compatible blockchain created by the blockchain-related tools developer G.U. Technologies.
China’s digital yuan initiative gets cold reception from Hong Kong visitors
China is promoting digital yuan to Hong Kong visitors, but has not received much enthusiasm so far.
South Korea financial regulator to clamp down on voice phishing involving cryptocurrencies
South Korea will expand the existing law on voice phishing to include crypto related phone scams.
Singapore’s DDEx eyes security token offerings, mulls adding more cryptocurrencies
DBS bank’s digital exchange, which serves institutional clients, said macroeconomic conditions last year were not suitable for security token offerings (STO), but it will explore opportunities for such listings in 2023 and plans to add more crypto tokens.
Indonesia’s Crypto First
Indonesia’s crypto coming of age could help them become a blockchain superpower
Blur NFT wash trading soars, fueling market distortions
Top blockchain and crypto news: Blur wash trading explodes. Coinbase extends developer foray with Base test. Hong Kong crypto embrace gets Beijing’s nod.
February 2023
BitFlyer founder eyes CEO comeback, share sale amid boardroom conflicts: Bloomberg
Yuzo Kano, co-founder of Japan’s largest cryptocurrency exchange bitFlyer Inc., said he plans to return as CEO, sell shares to public.
Japanese tech, finance firms sign pact to build metaverse economic zone
About 10 Japanese companies, including Fujitsu, Mitsubishi and Sumitomo Mitsui, have agreed to advance Japan’s metaverse plans with the establishment of the “Japan Metaverse Economic Zone”.
Janet Yellen urges strong regulatory framework for crypto as India leads G20 push for regulation
U.S. Treasury Secretary Janet Yellen told Reuters after the G20 meeting in India on Saturday that while the U.S. has not indicated any outright bans, it is critical to put in place a strong regulatory framework for the cryptocurrency industry.
Asia’s Opportunity to Lead Crypto Regulations
Crypto industry’s interaction with regulators is important and quite common in Asia but missing in the US, says Brooks Entwistle of Ripple Labs.
South Korea’s Lotte Group partners with Polygon for global NFT drive
Lotte Group plans to expand its non-fungible token (NFT) business onto the global market through a partnership with the Polygon blockchain.
Hong Kong’s Crypto Dream
Hong Kong’s economy is shrinking, but a recent budget draft published by the government lists some changes that could help the city recover – and crypto is at the center of it all.
NBA partners Chinese fintech giant Ant Group to launch NFTs in China
NBA will partner Ant Group – Chinese tech giant Alibaba’s fintech affiliate – to issue NBA-themed NFTs and create content on Alipay.
Gate Group set to enter Hong Kong
Gate Group announced on Wednesday that it is applying for a new cryptocurrency license in Hong Kong, joining a growing list of Web3 firms entering the city.
Hong Kong’s new crypto regulation may lure Web3 firms back, experts say
Hong Kong’s proposed crypto licensing regime received Huobi Global’s pledge to return to the city, and more companies may follow, industry experts told Forkast.
Hong Kong to invest US$6.37 million to spur Web3 growth
Hong Kong is allocating HK$50 million (US$6.37 million) to develop its Web3 sector, the Financial Secretary Paul Chan announced Wednesday.
FTX Japan resumes withdrawals through Liquid Japan web platform
FTX Japan, the Japanese subsidiary of Sam Bankman-Fried’s bankrupt FTX, resumed withdrawal of customer holdings on Tuesday.
Huobi plans to move headquarters to Hong Kong from Singapore
Cryptocurrency exchange Huobi Global is seeking to relocate its Asia headquarters from Singapore to Hong Kong.
How Web3 in China is taking shape — with ‘Chinese characteristics’
What makes Web3 compelling to many is its promise to shift power from centralized players to individual users, but China is doing the opposite, writes Lily King.
Bataan Blockchain Plans
Blockchain can be utilized in numerous ways to benefit the public sector, Philippine province Bataan is getting a head start.
Hong Kong begins public consultation on crypto licensing regime
The Hong Kong Securities and Futures Commission is calling for public feedback on its new proposals to regulate the crypto industry set to take effect in June.
Japan to launch digital yen pilot programme in April
Japan will start a pilot programme to test the use of a digital yen in April, joining a growing number of countries seeking to launch their own CBDCs.
Wemade’s WEMIX token surges after relisting on South Korea’s Coinone exchange
South Korean blockchain game developer Wemade’s WEMIX token surged after it was relisted on local crypto exchange Coinone on Thursday.
Japan’s Square Enix to launch Web3 game on Polygon blockchain, cites ‘sustainability’ benefits
Square Enix announced Wednesday that it will launch its first Web3 game Symbiogenesis on the Polygon blockchain.
Conflux Network, China Telecom to build blockchain-enabled SIM cards
Blockchain protocol Conflux Network and China’s second-largest wireless carrier China Telecom have partnered to build a “blockchain-enabled SIM card” (BSIM).
Singapore’s DBS Digital Exchange’s Bitcoin trade volume grows 80% in 2022
DBS Digital Exchange (DDEx), one of Asia’s first bank-backed digital exchanges, has reported a year-on-year increase of 80% in Bitcoin traded in financial year 2022, while the number of Bitcoin custodized with the bank doubled from 2021.
S. Korean regulators to probe local crypto staking services following U.S. crackdown: News1
S.Korean regulators are planning to review crypto staking services on local exchanges following recent regulatory enforcements from the SEC.
Hong Kong hopes to raise US$102 mln from digital green bonds debut: Bloomberg
The Hong Kong government is looking to raise US$102 million through the pilot issuance of its digital green bonds, according to a Monday report from Bloomberg.
Singapore’s DBS bank plans to apply for crypto license in HK: report
Singapore’s DBS Group plans to apply for a license to offer crypto to Hong Kong customers as the city pushes to become a hub for digital assets.
India discussing crypto, regulation with G20, says finance minister
As India moves forward with its one-year presidency of the Group of 20 (G20), it is discussing cryptocurrency and regulation with the group’s members, India’s Finance Minister Nirmala Sitharaman said.
Markets: Bitcoin, Ether prices extend losses; Dogecoin sole gainer among top 10 cryptos
Bitcoin continued to trade below US$22,000 in Monday afternoon trading in Asia. All other top 10 non-stablecoin cryptocurrencies dropped except Dogecoin.
Huobi to expand in Hong Kong as it bets on China
Huobi Global plans to expand its operations in Hong Kong, anticipating that Mainland China will soon follow the city’s recent pro-crypto shift, says Justin Sun.
Crypto Regulation Race
2023 could be the defining year for crypto regulation – but who’s leading the race to regulation and what’s the best way about it?
Binance makes Korea comeback with GOPAX acquisition
Top blockchain and crypto news: GOPAX deal sees Binance return to South Korea. Inflation fight spooks crypto markets. Chinese liquor giant gives cheers to NFTs.
South Korea prosecutors say Serbia ready to help fraud investigation into Terra’s Do Kwon
Prosecutors flew to Serbia earlier this month as part of an investigation into Terraform Labs chief Do Kwon, who faces fraud accusations related to the US$40 billion collapse of his Terra-Luna cryptocurrency project in May last year.
NFTs inspired by K-drama Crash Landing on You coming from Crypto.com, Studio Dragon
Singapore-based cryptocurrency exchange Crypto.com has partnered with Korean drama distributor Studio Dragon to issue NFTs inspired by popular Korean drama series, including the hit Crash Landing on You, the exchange said on Monday.
South Korea issues guideline on cryptocurrencies as securities tokens ahead of planned legalization
South Korea published guidelines on Monday for defining what specific cryptocurrencies would fall under regulations applicable to financial securities.
Binance tells Indian crypto exchange WazirX to remove funds from its platform as feud escalates
Binance has stopped providing wallet services to Indian crypto exchange WazirX, asking it to withdraw any remaining assets held in Binance wallets by Feb. 3.
India working with IMF, FSB on crypto regulations, says economic affairs secretary
India, the current holder of the G20 presidency, has been working with the IMF and the Financial Stability Board FSB to develop a regulatory approach for cryptocurrencies.
China should reconsider its ban on cryptocurrencies, says former central bank official
China’s blanket ban on cryptocurrency trading can have the country miss critical opportunities for technological development, says former PBOC official.
Prime Minister Fumio Kishida says NFTs and DAOs can bolster ‘Cool Japan’ strategy
NFTs and DAOs can help support Japan’s national strategy dubbed ‘Cool Japan’ to attract investment and expand the economy.