SE Asia

Filipinos now have the option to use cryptocurrency for SSS contributions.

Upbit joins 15 other crypto firms permitted to provide digital payment token services in Singapore.

Tokenization is on the rise not only in the private sector. In Asia, governments are leading the charge to use this technology for the greater public good.

SBF is found guilty of fraud, Hong Kong hosts Fintech Week, Neo advances Web3, Backpack launches NFT exchange, and more.

The US$5 million fund aims to help Vauld users who can’t withdraw their assets from the platform.

The MAS said that its previous tokenization pilots demonstrated great potential benefits of the technology.

The lender, known as K-bank, said it will also open three additional crypto subsidiaries.

Coins.ph, a cryptocurrency exchange based in the Philippines with millions of users, appeared to have lost 12.2 million XRP tokens, The Block reported on Friday.

The plight of the Philippines — which has a high rate of crypto adoption but is also plagued by fraud — offers a window into why the industry’s ‘do your own research’ mantra isn’t enough.

Singapore’s major payment institution license will enable Upbit to continue offering regulated digital asset services while awaiting its full license.

Coins.ph joins forces with Circle to introduce USDC remittances, targeting a more efficient and affordable money transfer solution for millions of Filipinos abroad, supporting the UN’s goal of trimming remittance costs by 2023.

The largest U.S.-based cryptocurrency exchange will be launching more products and services in the Lion City, Coinbase’s Hassan Ahmed says.

Welcome to Forkast IQ, presented by Forkast’s Megha Chaddah, where we look beyond the headlines to get you insights that power smarter decisions.

The Asia-Pacific branch of Ripple Labs has received a Major Payments Institution license from the Monetary Authority of Singapore.

The Major Payment Institution license from Singapore’s central bank allows the exchange to expand its digital payment token services in the Lion City.

The Philippine Securities and Exchange Commission delayed the publishing of a crypto framework earlier this year citing the FTX collapse in late 2022 as the reason.

Asia is stepping up the regulatory ground for the digital asset and take a look at El Salvador’s Bitcoin future.

It’s a week for regulatory enforcement in the cryptocurrency space as blockchain takes center stage in the Philippines.

Now a top-ranked crypto hub, Singapore is a shiny example of the central role that government can play in nurturing industry growth while bolstering consumer protections.

Funders see the novel social media network as emblematic of an abundance of opportunity in crypto and DeFi amid infrastructure gaps and increased integration with real-world assets

We bring you to one of the biggest crypto events in Asia.

Zodia Custody owned by Standard Chartered, announced Tuesday that it is launching its services in Singapore for financial institutions.

As the 2023 G20 Summit is set to kickoff over the weekend, we take a closer look at India’s role in kicking off its crypto regulation agenda.

Top blockchain and crypto news: Coinbase steps up to fill void of crypto lenders. NFTs extend losses. What’s next for crypto as Singapore gets a new president?

Blockchain technology in Thailand could soon receive a boost by new Prime Minister Srettha Thavisin, who had promised during his campaign to give 10,000 baht (US$300) through digital wallets to every Thai citizen aged 16 years and above.

Welcome to Forkast IQ, presented by Angie Lau, where we look beyond the headlines to get you insights that power smarter decisions. Coming up on today’s show:

Top blockchain and crypto news: Singapore steps up stablecoin rules. DeGods decline. Hong Kong’s third crypto license.

The Monetary Authority of Singapore unveiled a stablecoin regulatory framework on Tuesday as the city-state aims to become a global hub for the crypto industry.

Already home to most of the world’s gamers, Asia has a rich pedigree in seeding and embracing new technologies, writes Robbie Ferguson of Immutable.

As the US is engulfed in regulatory strife, Asian countries are rolling out legal frameworks that attract crypto investment, protect consumers and encourage innovation.

Welcome to Forkast IQ, presented by Angie Lau, where we look beyond the headlines to get you insights that power smarter decisions. Coming up on today’s show:

Hong Kong, Japan, Singapore and Thailand have regulations supporting the growth of tokenization, showing the world the benefits of fractionalizing assets.

Southeast Asia steps up regulation. No end in sight for NFT market decline. Voyager’s shrinking portfolio.

Singapore-based DBS bank has introduced a “merchant collection solution” using e-CNY – China’s central bank digital currency – to allow corporate clients of DBS China to collect payments from their customers in e-CNY, and avail the automated settlement of e-CNY directly into their bank deposit account.

Cryptocurrency service providers in Singapore will have to keep customer assets under a statutory trust before the end of the year, for safekeeping purposes, the city state’s central bank announced Monday.

Ripple Labs’ Asia-Pacific branch is offering digital payment services in Singapore after receiving in-principle approval of its license application from the MAS on June 22. What does that mean for the company’s Asia business?

Top blockchain and crypto news: Fidelity Investment is reportedly close to filing its own Bitcoin ETF. NFT traders seek liquidity. Singapore eyes asset tokenization.

The Monetary Authority of Singapore (MAS), the city state’s central bank, has proposed a framework for designing open, interoperable networks for digital assets, developed jointly with the Bank for International Settlements and other financial institutions. 

Five countries in South and Southeast Asia now rank in the global top 10 for cryptocurrency adoption, embracing DeFi and defying government attempts to discourage crypto use. Is this a harbinger of larger trends to come?

The Asia-Pacific arm of San Francisco-based technology firm Ripple Labs saidThursday it received in-principle approval to start offering digital payment services in Singapore.

The Monetary Authority of Singapore (MAS) released on Wednesday a whitepaper for “purpose bound” money, detailing a technical overview of digital currencies designed for specific purposes.

Independent Reserve may have a new Hong Kong office in the “next few months,” the Singapore chief of the Australian crypto exchange said in an exclusive interview. Focusing on institutional clientele, the exchange aims to double trade volumes and expand its user base this year.

The SEC’s one-two punch of Coinbase and Binance couldn’t have come at a better time for Hong Kong and Singapore, as US crypto firms look to shift to friendlier shores, writes Hamilton Keats of Krayon Digital.

From US crackdowns on Binance and Coinbase to new business-friendlier frameworks in Hong Kong and Europe, seismic shifts in crypto regulations are under way.

Circle Singapore said Wednesday it has received a Major Payment Institution license from the Monetary Authority of Singapore.

Leaders in Hong Kong’s Web3 industry announced the formation of two new associations, Hong Kong Licensed Virtual Assets Association (HKLVAA) and Web3 Harbour, on Monday.

Temasek, Singapore’s state-owned investment firm, said on Monday that it has cut the pay of senior management and the investment team involved in the decision to invest in the now-bankrupt FTX cryptocurrency exchange.

Top blockchain and crypto news: Asia’s crypto hub race. Is US debt ceiling fight a boon or a bane for crypto? China’s red carpet for metaverse investment.

OCBC Bank will offer tokenized equity-linked structured notes to accredited investors, in a partnership with private market exchange ADDX.

While U.S. regulators continue debating over whether cryptocurrencies are securities or commodities, the digital assets industry is being pleasantly welcomed by several Asian cities. And the competition is really hotting up now.

Hong Kong will allow licensed cryptocurrency trading platforms to offer services to retail investors and will implement a slew of measures to protect individual traders, the Securities and Futures Commission (SFC) said on Tuesday.

The Philippines Securities and Exchange Commission warned the public last week not to use crypto exchange Gemini’s derivatives platform.

Smart Communications, one of the Philippines’ largest telcos, is entering the Web3 space through a partnership with Web3 community enabler in Southeast Asia, BlockchainSpace.

Welcome to Forkast IQ, presented by Forkast Editor-in-Chief Angie Lau, where we look beyond the headlines to get you insights that power smarter decisions. Coming up on today’s show: JPMorgan Chase set to rescue First Republic Bank. CITI cuts Coinbase stock Weekly crypto market wrap; “US$100K for Bitcoin” – Standard Chartered report; Weekly NFT market […]

Temasek, Singapore’s state-owned investment firm, has denied that it had invested in Array, an algorithmic cryptocurrency developer.

Nasdaq-listed Equinix and Indonesian conglomerate Astra International have set up a joint venture to help local businesses and multinationals capitalize on emerging technologies.

Thailand’s main opposition party said it would distribute US$15 billion worth of digital tokens to citizens if it wins the general election

The Monetary Authority of Singapore is reportedly working on guidelines to help local banks vet and provide banking services to cryptocurrency clients

The Philippines has licensing requirements and proactively monitors crypto firms, while the US regulates by enforcement only after consumers are already badly hurt, writes Robert De Guzman of Coins.ph.

Dubai-based Fasset says Indonesia digital asset adoption is still in early stages, but the country’s young population is taking to crypto faster, encouraging exchanges to move in despite infrastructure constraints.

Seychelles-based cryptocurrency exchange Bitget said it has invested US$30 million in decentralized multi-chain wallet BitKeep to become its controlling shareholder. 

The Monetary Authority of Singapore (MAS) aims to publish cryptocurrency and stablecoin consultations feedback by the middle of this year, it said Monday.

Thailand’s recent crypto tax waiver announcement could be a gamechanger in boosting Thailand’s economy.

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.

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.

Singapore’s police have begun investigations linked to Terraform Labs that was co-founded by fugitive Do Kwon, according to a Bloomberg report.

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 coming of age could help them become a blockchain superpower

Crypto industry’s interaction with regulators is important and quite common in Asia but missing in the US, says Brooks Entwistle of Ripple Labs.

Blockchain can be utilized in numerous ways to benefit the public sector, Philippine province Bataan is getting a head start.

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. 

Laws to prevent another FTX blowup, crackdowns on crypto tax cheats, and a ruling on Ripple are likely imminent. A bull’s eye is also on DeFi, writes Gergo Varga of SEON.