Region

The European Council on Wednesday approved a proposal for cryptocurrency regulation known as the Markets in Crypto Assets Regulation (MiCA), in the first move towards establishing a licensing mechanism for crypto exchanges and assets in Europe.  See related article:  Bitcoin, proof-of-work ban removed from European Union’s MiCA Fast facts Lawmakers at the European Parliament are […]

Binance has obtained a “permanent license” to operate a digital asset platform and provide custody services at Kazakhstan’s Astana International Financial Center, the world’s largest cryptocurrency exchange announced in a blog post on Thursday. See related article: Binance targets expansion in Philippines, Turkey, executive says Fast facts The license gives Binance the status of a […]

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.

Validators of Terra blockchain had no knowledge of the US$60 billion collapse of Terra-LUNA prior to the crash, said South Korean blockchain infrastructure provider DSRV Labs chief Kim Ji-yun. in response to the National Assembly’s parliamentary audit on the Financial Services Commission on Thursday. See related article: Terra CEO Do Kwon to lose his passport […]

The Monetary Authority of Singapore (MAS) said illegal crypto-related businesses are operating in the city state and it is working with the police to identify and prosecute them. See related article: Singapore’s MAS says needs to do better job explaining crypto policy Fast facts In a reply to a Parliamentary question, Tharman Shanmugaratnam, senior minister […]

A woman in Melbourne, Australia pleaded guilty on Wednesday to her role in stealing millions of dollars from superannuation (retirement) funds and stock portfolios before laundering the proceeds via Hong Kong through the purchase of cryptocurrency and diamonds, as reported by The Age newspaper. See related article: Australian superannuation and institutions await clarity to invest […]

South Korean prosecutors have arrested a Terraform Labs employee, in their first arrest under the investigation of the Terra-LUNA collapse. A bench warrant, which allows law enforcement to take suspects into custody, was issued on Wednesday for the arrested employee. See related article: Terra CEO Do Kwon to lose his passport within a month  Fast […]

South Korean ruling party lawmaker Yoon Sang-hyun asserted that the country needs to appoint a special prosecutor to investigate the Terra-LUNA collapse, which affected over 280,000 people locally, in comments at the National Assembly’s parliamentary audit on the Financial Services Commission (FSC), South Korea’s top financial regulator. See related article: South Korea’s investigation of Do […]

Kim Joo-hyun, the chairman of South Korea’s top financial regulator, the Financial Services Commission (FSC), said on Thursday the agency will promote blockchain technology and user protections in the crypto market. See related article: South Korea’s all-encompassing crypto law is coming — what we know so far Fast facts “In cooperation with the National Assembly, […]

South Korea’s Ministry of Foreign Affairs posted a notice on its website on Wednesday saying the passport belonging to Terraform Labs Pte. Ltd. chief Kwon Do-Hyung, also known as Do Kwon, will be nullified in four weeks if Kwon does not return his passport. See related article: South Korea’s investigation of Do Kwon ‘unfair’: Terraform […]

Top blockchain and crypto news: Celsius founder in hot water. European bank woes cast crypto shadow. Will BSN’s Chinese roots thwart its global ambitions?

Terraform Labs Pte. Ltd. cofounder Daniel Shin, or Shin Hyun-sung, has submitted a statement to South Korea’s National Assembly with reasons not to appear before lawmakers on Thursday as a witness in the Terra-LUNA meltdown, according to local news agency News1. See related article: Terraform cofounder Daniel Shin to testify in South Korean parliament Fast […]

Members of European Parliament (MEPs) voted in favor of a resolution that called for the use of blockchain technology to fight tax evasion and urged member states to coordinate more on the taxing of crypto assets, according to a Tuesday statement.  See related article: How will the crypto tax debate play out in the UK? […]

Taiwanese laptop maker Asus has launched a non-fungible token (NFT) platform, marking its first attempt to venture into the burgeoning Web 3.0 industry, the company announced on Tuesday.  See related article: Apple iPhone maker’s founder distances himself from crypto fraudsters using his image Fast facts Asus launched Art Black hole on Tuesday, a platform for […]

Japan’s Prime Minister Fumio Kishida announced plans to expand investments in non-fungible tokens (NFTs) and the metaverse in a policy speech on Monday. See related article: Japan plans new crypto transfer rules to combat money laundering Fast facts Kishida says the country will further its investment in digital transformation and expand the use of Web3 […]

China spent billions on its ‘belt and road’ infrastructure network to expand trade so what are its plans for a domestic and international digital infrastructure built on blockchain?

Dunamu Inc., the mother company of South Korea’s largest crypto exchange Upbit, and Hybe Co., Ltd., the music agency behind K-pop mega group BTS, launched a K-pop digital collectible platform on Tuesday via their Los Angeles-based joint venture, LEVVELS Inc. See related article: Dunamu looks to K-pop group BTS NFTs to beat ‘Crypto Winter’ Fast […]

Like many nations, the UK is formulating new rules and guidelines for crypto taxation. Will they help or hinder its crypto hub aspirations?

Dubai’s announcement of an Islamic Coin could turn the city into the next crypto promised land.

The crypto market has been down for months, but the industry’s long-term future is brighter than ever, writes Guilhem Chaumont of Flowdesk. Here’s why.

Cryptocurrency exchange Coinbase Global Inc. said it resolved technical issues on Sunday night that had prevented U.S. bank account users from making payments or withdrawals for most of the day.  See related article: Coinbase gets nod from Dutch central bank to offer crypto services Fast facts “We’ve fully resolved this issue and ACH transfers are […]

India’s financial crime fighting agency has frozen additional cryptocurrencies worth around US$58,000 as part of an ongoing money laundering probe against mobile gaming application E-Nuggets and its former executive. See related article:  Indian authorities probe alleged $125 mln money laundering cases involving crypto, report says Fast facts The additional cryptocurrencies include WRX, the utility token […]

Binance, the world’s largest cryptocurrency exchange, has launched a local branch in New Zealand after becoming a registered financial service provider, Chief Executive Officer Changpeng Zhao announced on Friday. See related article: Binance taps ex-U.S. senator Max Baucus to chair global advisory board Fast facts “New Zealand is an exciting market with a strong history of […]

South Korea’s National Assembly intends to get to the bottom of the Terra-LUNA debacle in its next audit in October along with several other issues surrounding the local crypto industry.

The price of XRP rose after a U.S. federal judge Thursday overruled the Securities and Exchange Commission’s (SEC) objections to orders that asked the securities watchdog to disclose drafts of a 2018 speech made by former agency director William Hinman, in its lawsuit against Ripple Labs Inc. See related article: SEC files brief on Hinman […]

India’s financial crime fighting agency has frozen US$1.2 million in account balances of various “Chinese-controlled entities” as part of an investigation related to alleged crypto fraud with an app-based token “HPZ” and similar applications.  See related article: Tax authorities recover US$9M from India’s biggest crypto exchanges Fast facts India’s Enforcement Directorate (ED), in a press […]

Busan, South Korea’s second-largest city, is opening a virtual space on Naver Z’s Zepeto metaverse at 12 p.m. on Friday, Korea time, to promote the city in efforts to host the World Expo in 2030. See related article: South Korea’s Busan city wants to be blockchain central. Did everyone get the memo? Fast facts The […]

The director of Hong Kong’s de facto central bank, the Hong Kong Monetary Authority (HKMA), Eddie Yue Wai-Man, said the HKMA will launch a series of trials of its central bank digital currency (CBDC) in testing, the e-HKD, in the fourth quarter this year with banks and technology firms. See related article: Hong Kong needs […]

In the first of a two-part report on this year’s cryptocurrency gathering in Singapore, defiance outshone defeatism despite industry’s struggles.

Terraform Labs Pte. Ltd., the firm behind the collapse of the Terra-LUNA stablecoin project said South Korean prosecutors’ measures in pursuing its chief executive officer Do Kwon violate his basic rights under Korean law.

India’s financial crime fighting agency has frozen over US$1.5 million in cryptocurrencies as part of a money laundering investigation against mobile gaming application E-nuggets, the Enforcement Directorate (ED) said on Wednesday.   See related article: Indian authorities probe alleged $125 mln money laundering cases involving crypto, report says Fast facts The ED launched a money laundering […]

Top blockchain and crypto news: Digital dollar didgeridoos. Bitcoin softens as sterling sinks. ‘World’s dumbest’ crypto criminals nabbed in China.

Russia is planning to use its central bank digital currency (CBDC) in testing, the digital ruble, to carry out mutual settlements with China, Reuters reported on Monday, citing a senior Russian lawmaker. See related article: Is cryptocurrency a workaround for sanctions against Russia? Fast facts Anatoly Aksakov, head of the financial committee in Russia’s lower […]

The man behind Terra-LUNA contradicts the basis of the new action South Korean authorities took to corner and locate him.

Japan is planning to introduce remittance rules to prevent money laundering through cryptocurrencies, Nikkei Asia reported Tuesday. See related article: China says it busted US$5.6B crypto money laundering ring Fast facts The Japanese authorities plan to revise “The Act on Prevention of Transfer of Criminal Proceeds” to require exchanges to provide user data when sending […]

Upbit, South Korea’s largest cryptocurrency exchange, is using fees it collected from Luna Classic (LUNC) transactions to establish a crypto monitoring center in a gesture to help compensate for the losses from the Terra-LUNA debacle, according to local media reports. See related article: Interpol issues red notice for Do Kwon, says South Korean prosecutor Fast […]

South Korea’s crypto market was worth 23 trillion won (about US$16.1 billion) in the first half of 2022, down 58% from 55.2 trillion won in the six-month period at the end of last year, according to data from the Financial Intelligence Unit (KoFIU). See related article: South Korea seizes US$184 mln in crypto towards unpaid […]

Changwon is the latest addition to South Korea’s growing list of cities seeking a presence in the metaverse, signaling the country’s adoption of Web3.

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?

A bill that proposed a regulatory and licensing framework for crypto companies was rejected by Gov. Gavin Newsom amid a broader national debate concerning the policing of digital assets.

South Korea is pursuing different options to get custody of Do Kwon as the Terraform Labs CEO faces charges for his alleged involvement in the multibillion collapse of the Terra-LUNA stablecoin project.

The coastal city was a prominent manufacturer of footwear, fabric and other light industries during the 1970s and 80s, and then grew into one of the world’s biggest container ports. Now it’s trying to reinvent itself in the digital world of blockchain.

DBS Bank Ltd., Southeast Asia’s largest lender, has launched a self-directed cryptocurrency trading service for accredited wealth clients.  See related article: Asia banking giant DBS jumps into The Sandbox metaverse Fast facts The bank’s wealth clients have been favoring self-directed options, with digital trades dominating 90% of equity transactions, DBS said in a press release […]

Dunamu Inc., the mother company of South Korea’s largest crypto exchange Upbit, will focus its future endeavors on Levvels, its Los Angeles-based non-fungible token (NFT) joint venture with Hybe Co., Ltd., the entertainment agency behind K-pop group BTS. See related article: Dunamu’s NFT venture with BTS’s HYBE to launch services later this year Fast facts […]

Coinbase, one of the world’s largest cryptocurrency exchanges, has obtained regulatory approval in the Netherlands, as the U.S.-based exchange looks to expand its presence globally. See related article: Coinbase hit with lawsuit over allegedly poor security Fast facts Coinbase said on Thursday in a statement that it has registered with De Nederlandsche Bank, the central […]

The United Kingdom has introduced a bill that would enable its law enforcement agencies to “seize, freeze and recover” crypto assets, to prevent cyber crime and money laundering.  See related article: UK watchdog: Crypto firms fall short on anti-money laundering rules Fast facts The reforms to the governmental Companies House, including issues beyond crypto, are […]

The Chinese province of Gansu says that it will “strictly prohibit crypto mining” in the server rooms for China’s mega digital Eastern Data and Western Computing infrastructure project, according to a policy document. See related article: GBA among regions for China’s blockchain-powered data hubs  Fast facts See related article: China’s Zhejiang busts state-owned entities on […]

Tokyo-based financial services group Nomura Holdings, Inc., recently announced its new digital asset subsidiary named Laser Digital and respective holding company Laser Digital Holding, which will be active in Switzerland. See related article: Japan’s government approves policy to drive Web 3.0 adoption Fast facts Laser Digital will focus on secondary trading, venture capital and investor […]

Binance has tapped Max Baucus, a former U.S. senator and ambassador to China, to chair its new global advisory board, to advise the world’s largest cryptocurrency exchange on regulatory, political and social issues. See related article: Binance stablecoin conversion controversial, but what does it mean for users? Fast facts Binance said on Thursday in a […]

Linda Jeng, chief regulatory officer and general counsel at the Crypto Council for Innovation said the U.S. has seen the writing on the wall and is expanding the conversation about cryptocurrency, in comments at Forkast’s “Crypto Rising: CBDCs & Stablecoins: The Asia Perspective.”

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

Panelists at Forkast’s “Crypto Rising: CBDCs & Stablecoins: The Asia Perspective,” co-hosted by the Crypto Council for Innovation (CCI), said tackling the technology requires international cooperation and flexibility to not stifle innovation.

Cryptocurrency assets seized from alleged tax delinquents in South Korea in 2021 and 2022 amounted to nearly 260 billion Korean won (US$184.3 million), according to local media reports. See related article: South Korea’s taxman keeps circling crypto – airdrops look to be the next target Fast facts The highest amount of crypto seized from a […]

Bitcoin, the largest cryptocurrency by market capitalization, rose more than 3% on Thursday to recover from a sharp drop to under US$19,000 after the Federal Open Market Committee said it would raise interest rates by 75 basis points, or in line with market expectations, to rein in inflation. See related article: Digital dollar takes another […]

While India’s central bank has adopted a hostile stance towards cryptocurrency, the South Asian nation has recognized the potential for blockchain technology.  See related article: Women in India start to plug into cryptocurrency trading Fast facts Use of blockchain technology is going to rise by about 46% in the next few years, India’s finance minister […]

J-pop is increasing ties with immersive metaverse technology, with Japan’s top record producer Akimoto recently announcing his ambitious virtual idol project.

China’s Ministry of Industry and Information Technology (MIIT) claimed on Tuesday in a news conference that the country accounted for more than 84 percent of the world’s blockchain patent applications, despite the country’s ban on cryptocurrencies. See related article: Ant Group and Tencent obtain the most blockchain patents in China: report Fast facts See related […]

CoinDCX, India’s first crypto unicorn, asked users not to click on any link or messages from its official Twitter handle as the company lost control of the social media account following a hack. See related article: How Twitter hackers social-engineered their way into VIP accounts to shill for bitcoin Fast facts “We are in the […]

The Hong Kong Monetary Authority (HKMA), the city’s de-facto central bank, Tuesday said it concluded its market consultations on technical and policy grounds towards the city’s central bank digital currency (CBDC), estimating at least two to three years to build the wholesale system.  See related article: Hong Kong flirts with e-HKD as it talks of […]

South Korea’s top financial watchdog Monday said it is difficult for the country to establish laws overseeing the cryptocurrency industry in the country ahead of a common global regulatory framework as cross-border enforcement would be a key determinant of effectiveness.

Amid the worsening relationship with China, one Australian Senator is trying to address possible national security concerns that may arise from Beijing’s Central Bank Digital Currency project.

Britain’s internal divisions could thwart its crypt ambitions, writes Nick Saponaro of Divi Labs. Will it be eclipsed by crypto-friendly Dubai?

South Korea’s official media regulation agency met with Andy O’Connell, vice president of product policy and strategy of Meta Platforms, Inc. on Monday to discuss ways to boost user protection on the metaverse. See related article: South Korea will not rule the metaverse with game laws, science ministry says Fast facts Ahn Hyoung-hwan, the vice […]

South Korean prosecutors are in the process of requesting Interpol to issue a red notice for Terraform Labs Pte. Ltd. Chief Executive Officer Kwon Do-hyung, also known as Do Kwon, according to media reports.  See related article: Terra CEO Do Kwon faces ‘illegal alien’ status in Singapore as Seoul cancels passport Fast facts An Interpol […]

Hong Kong has invited firms interested in security token offerings (STO) to share their proposals with the Securities and Futures Commission (SFC), the regulator’s Fintech department head Elizabeth Wong told digital assets industry representatives last week, according to a press release published on Monday.  See related article: Hong Kong regulator: ramp up oversight of virtual […]

The argument centers around if Ripple’s XRP sales were offerings of unregistered securities.

Welcome to The Daily Forkast – September 16, 2022 – presented by Joel Flynn. Coming up on today’s show: Could Busan be the next crypto hub? Will help from Binance and FTX finally establish South Korea’s second largest city as the crypto haven it’s trying to be? We’ll have more on those stories — and […]

A member of the prosecuting team tells Forkast additional charges are likely to be leveled against Terraform Labs Chief Executive Officer Do Kwon following this week’s issuance of an arrest warrant for violating the country’s Capital Markets Act.

The Sandbox, a subsidiary of Animoca Brands Corp. Ltd., the Hong Kong-based game software and venture capital company, will be taking its Hong Kong metaverse strategy to a new market in Dubai, launching a “Dubaiverse,” the company said at the 62nd edition of the True Global Ventures Conference on Thursday.  Animoca Brand’s Dubai-themed metaverse will […]

Prosecutors investigating the man behind the US$37 billion wipeout of the Terra-LUNA cryptocurrency project are raising the stakes to get him back to South Korea.

South Korea’s Financial Supervisory Service (FSS) governor Lee Bok-hyun says he disagrees with the view that crypto cannot be seen as financial investment products or securities, while revealing he assisted local prosecutors in designating Terra-LUNA tokens as securities, according to local media reports. See related article: Securities or not? South Korea to evaluate Terra’s LUNA […]

Bitcoin fell below the US$20,000 support line in Friday morning trading in Asia, while Ether saw a sell-off following the long-awaited network “Merge” on Thursday. The total cryptocurrency market capitalization fell below US$1 trillion as all top 10 tokens were trading down. See related article: Ethereum says Merge upgrade successfully completed, more to come Fast […]