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SE Asia

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March 2023

Crypto exchange Fasset hopes to win Indonesia license next month

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.

Thailand Turns to Crypto

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

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.

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

FastForkast headlines

Bitget invests US$30 mln in BitKeep wallet, becomes controlling shareholder

Singapore to publish crypto, stablecoin consultation feedback by mid-2023

Thailand to offer tax breaks to firms issuing investment tokens

Singapore police begin probe linked to Do Kwon’s Terraform Labs: Bloomberg

March 2023

Bataan Blockchain Plans

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

FastForkast headlines

Singapore police begin probe linked to Do Kwon’s Terraform Labs: Bloomberg

Singapore’s DBS Digital Exchange’s Bitcoin trade volume grows 80% in 2022

February 2023

FastForkast headlines

Singapore’s DBS Digital Exchange’s Bitcoin trade volume grows 80% in 2022

Thailand’s SEC issues new regulations for crypto custody services

Crypto lender Hodlnaut’s creditors reject restructuring plan, prefer liquidation: report

Thai regulator probes Zipmex crypto exchange amid acquisition: report

Indonesia to set up crypto stock exchange this year: report

January 2023

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

Indonesia to set up crypto stock exchange this year: report

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

December 2022

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.

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

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.’

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.

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.

Singapore lender DBS explains its DeFi experiments, plans

DBS, the largest bank in Southeast Asia, said it tested trading of foreign exchange and government bonds using permissioned decentralized finance (DeFi) liquidity pools on a public blockchain as part of the city-state’s Project Guardian exploration of blockchain in finance.

DBS bank says it tested blockchain DeFi protocols for forex, bond transactions 

The bank is in the center of developments shepherded by the Monetary Authority of Singapore to explore digital financial technologies emerging around blockchain.

USDC stablecoin issuer Circle wins Singapore digital payment license

The issuer of the world’s second-largest stablecoin is joining a fleet of companies in the digital asset industry moving into Singapore. What’s the attraction?

Singapore’s Tokenize crypto exchange opens platform for institutional investors

Cryptocurrency exchanges in Singapore are shifting focus to heavy-hitter investors, such as family offices and financial institutions, in line with the central bank’s warnings about the risks in retail crypto trading.

FastForkast headlines

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

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

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

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

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

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

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

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

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

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

BIS’ ‘Project Mariana’ to explore CBDC integration with DeFi

Payments platform StraitsX to show real-world stablecoin use at Singapore Fintech Festival

November 2022

Singapore court issues ‘huge’ NFT decision, allows papers to be served via blockchain

The lead counsel for the plaintiff in the case has called Friday’s ruling a decision with implications for the global blockchain industry

First Digital Trust says HK, Singapore can join hands on crypto initiatives

In a Q&A with Forkast, First Digital Trust Chief Executive Officer Vincent Chok shared his views on Hong Kong getting back into crypto, regulations, and how the crypto pie in Asia is big enough for rivals Singapore and Hong Kong.

Why local language education holds the key to crypto’s future

The crypto sector operates mainly in English, but more than 6 billion people — many of whom crypto would benefit the most — use other languages, writes Wei Zhou of

Binance targets expansion in Philippines, Turkey, executive says

The world’s largest crypto exchange’s regional head of Asia says the Philippines’ GameFi community and rampant inflation in Turkey present opportunities for Binance.
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FastForkast headlines

Payments platform StraitsX to show real-world stablecoin use at Singapore Fintech Festival

Singapore’s DBS Bank trials use of digital SingDollar with vouchers

Terra CEO Do Kwon faces lawsuit in Singapore, next hearing on Wednesday

Hong Kong crypto firm Q9 Capital gets Dubai provisional approval

Singapore floats tests for retail crypto traders, plans to regulate stablecoins

Terra CEO Do Kwon, wanted in South Korea, left Singapore and flew to parts unknown via Dubai

CFTC, SEC investigate if bankrupt 3AC misled investors, failed to register business to invest US$145 mln in France as base for European operations granted in-principle approval for Singapore license

Coinhako aims to grow institutional users, introduces arm for eligible clients

Crypto exchange Coinbase awarded in-principle license for Singapore

Singapore eyes blockchain-based payment systems for faster cross-border transactions

Singapore’s central bank says illegal crypto operations will be hunted down

October 2022

Is the Philippines on track to becoming a blockchain hub?

The Philippines now ranks 2nd in the world for crypto adoption, but its path ahead is unclear, writes Emman Navalan. What are the hurdles it must overcome?

Philippine central bank sees stablecoins as key to make payments more efficient

Bangko Sentral ng Pilipinas (BSP) Director Mhel Plabasan said the central bank has adopted a flexible approach on the digital assets.

FastForkast headlines

Singapore’s central bank says illegal crypto operations will be hunted down

DBS offers self-directed trading for accredited investors

Singapore Deputy Prime sees “tremendous potential” in tokenization and DLT