How Southeast Asia’s NFT ecosystem lifts up local artists
Providing access to global customers and higher income, NFTs are changing lives in some of the poorest places in the world, writes Katherine Ng of TZ APAC.
Need for Speed gets Hong Kong’s Animoca in driver’s seat
Hong Kong-based Animoca Brands has acquired French racing game studio Eden Games, as Animoca expands its blockchain gaming business. See related article: Animoca Brands halts services to Russians: report Fast facts The acquisition is aimed at developing a series of new blockchain-based racing games, Animoca said. The US$16 million purchase comes after Animoca bought game […]
MobiKwik pulls crypto support; Twitter NFT hacker strikes again
In India, Mobikwik yanks crypto support. Meanwhile in the cyberspace, a Twitter hack promotes a fake NFT drop.
Twitter hacker takes over verified accounts to promote fake Azuki NFT drop
India’s Ministry of Education was one of the latest victims in a series of hacks against verified Twitter accounts promoting fake Azuki non-fungible token (NFT) airdrops. See related article: Azuki spikes past Bored Apes in daily sales Fast facts India’s University Grant Commission (UGC), which has more than 295,000 followers on Twitter, was hacked on […]
China seizes over 3,500 Bitcoin mining rigs, hikes electricity rates
The provinces of Guangdong, Heilongjiang, and Shanxi announced Bitcoin mining equipment seizures and other measures to phase out operations that have survived waves of crackdowns that followed the September crypto ban. See related article: China takes aim at corruption in underground Bitcoin mines Fast facts See related article: Bitcoin miners unwelcome in Hangzhou despite targeted […]
China’s Sichuan province launches NFT marketplace
The cultural and tourism authority in Southwest China’s Sichuan province built a non-fungible token (NFT) trading platform to “encourage the music industry to actively adopt modern technology.” See related article: China’s Shandong TV to build NFT marketplace Fast facts The Sichuan government Thursday said a number of music companies are using blockchain technology to safeguard […]
Indian e-wallet provider MobiKwik yanks crypto support
Indian e-wallet service provider MobiKwik withdrew support for crypto exchanges from April 1, local media report. See related article: Coinbase’s India launch hits road bump Fast facts MobiKwik’s withdrawal comes as the National Payments Corporation of India (NPCI) distanced itself from offering a payments gateway to Coinbase. NPCI developed and operates India’s ubiquitous Unified Payments […]
South Korea’s ‘crypto friendly’ president seeks STO, IEO oversight
South Korean president-elect Yoon Suk-yeol is reportedly working with financial authorities to regulate security token offerings (STOs) and initial exchange offerings (IEOs). See related article: A crypto bull wins the presidency: What it means for South Korea Fast facts STOs, currently being reviewed by Yoon’s Presidential Transition Committee, tokenize traditional securities such as real estate […]
Binance wins Abu Dhabi nod for another MENA outpost
The world’s largest crypto exchange received an in-principle approval from the Abu Dhabi Global Market (ADGM) to operate as a virtual assets broker-dealer, bolstering Binance’s presence in the Middle East. See related article: Binance wins crypto license in Dubai days after FTX Fast facts Binance will offer virtual asset investment and trading services across the […]
Coinbase India setback; Hong Kong’s Bitcoin ATMs
Coinbase’s launch in India is off to a rocky start. Meanwhile, Bitcoin ATMs grow in Hong Kong.
Bitcoin ATMs face existential threat in Hong Kong
Authorities in Hong Kong moving to block retail investors from accessing non-derivative crypto products could undermine the presence of Bitcoin ATMs in the city with the most crypto ATMs in Asia.
Coinbase’s India launch hits road bump
The governing body overseeing India’s Unified Payments Interface (UPI) said it isn’t aware of any cryptocurrency exchange using the platform, hours after Coinbase said users could use the same to buy and trade cryptocurrencies. See related article: SEC threatens to sue Coinbase over high-yield savings account Fast facts Nasdaq-listed Coinbase launched crypto trading services in […]
First S.Korean bank issues crypto accounts for corporations
Shinhan Bank became South Korea’s first domestic lender to trial real-name corporate accounts for cash-to-crypto transactions, paving the way for an institutional crypto boom in the peninsula. See related article: South Korean banks find workaround to cash in on crypto services Fast facts Local regulations permit only licensed and bank-partnered crypto exchanges to offer cash-to-crypto […]
e-CNY now a payment option on WeChat Pay in all pilot areas
By offering China’s digital currency in trial as a payments option in all pilot areas, payments giant WeChat Pay is paving the way for the wider adoption of the digital yuan in the world’s most advanced digital payments market. See related article: China’s digital yuan is now in 23 cities Fast facts WeChat Wednesday said […]
Opensea’s Solana beta begins; Binance bails out Sky Mavis
Chinese state media calls for stronger regulations of NFTs. Meanwhile, Sky Mavis raises $150M to offset Ronin hack.
SEC comes around on Bitcoin ETFs
Oversight by the American commodities regulator of the Bitcoin futures ETF by Teucrium helped with the SEC approval.
China’s Communist Party wants to regulate NFTs
The Economic Daily, a mouthpiece of the Chinese Communist Party, called for stricter regulation of “digital collectibles” as investors continue to speculate in non-fungible tokens (NFTs). See related article: Ant Group, JD.com, Tencent pledge to resist speculation of ‘digital collectibles’ Fast facts See related article: WeChat bans NFT accounts, citing ‘crypto speculation’
Bitcoin down amid crypto carnival in Miami
News of officials planning to shrink the Fed’s balance sheet by US$95 billion a month weighed on risk assets globally including Bitcoin which dropped about 5% Thursday early morning Asia time. See related article: Bitcoin, crypto market on the rise along with global markets Fast facts Bitcoin fell as much as 4.7% on sell off […]
Binance.US valued at $4.5B following first seed round
Binance.US, headed for an IPO, has been valued at US$4.5 billion following a more than US$200 million fundraise in its seed round. See related article: Binance US on track for IPO Fast facts Investors include RRE Ventures, Foundation Capital, Original Capital, VanEck, Circle Ventures and inclusion-focused companies such as Gaingels and Gold House, Binance.US said […]
US sanctions Russian darknet market; Indian MP’s crypto warning
South Korea’s Kakao Group acquires SEBC. Meanwhile in India, an MP reveals the government’s plans for the crypto industry,
Will London be Europe’s next crypto capital?
Top blockchain and cryptocurrency news: Britain’s crypto gamble. WAVES crashing. China’s big digital yuan push.
Former Hong Kong finance Tsar to launch NFTs
John Tsang Chun-wah, the city’s longest-serving Financial Secretary, will launch 3,000 non-fungible tokens (NFT) of his portrait, becoming Hong Kong’s first civil servant to profit from the trend. See related article: Hong Kong Exchange to trial digital assets trading in ‘Diamond’ pilot Fast facts Tsang is the longest-serving Financial Secretary since the handover. He lost […]
China’s Shandong TV to build NFT marketplace
The television station in China’s Shandong province plans to build a “digital collectibles” trading platform and issue its own non-fungible tokens (NFTs), becoming the latest state-run media outlet to join the trend. See related article: WeChat bans NFT accounts, citing ‘crypto speculation’ Fast facts Shandong Television has started developing its own blockchain to run its […]
South Korea’s Kakao to buy into Japanese crypto exchange
Kakao Piccoma, the group’s Japanese digital-comics subsidiary, acquired a major stake in Sakura Exchange BitCoin (SEBC) as part of its global expansion. See related article: Kakao Games rebrands subsidiary to focus on crypto, blockchain, Web 3.0 Fast facts Kakao Piccoma bought out SEBC Holdings’ stake for an undisclosed amount and said it will incorporate crypto […]
Russian darknet Hydra, crypto exchange Garantex sanctioned by U.S.
The U.S. Department of the Treasury sanctioned what it called “the world’s largest and most prominent darknet market” based in Russia and a cryptocurrency exchange associated with ransomware activities. See related article: Russian-linked strains lead crypto ransomware in 2021: Chainalysis Fast facts The Treasury Department Tuesday sanctioned Hydra Market, alleging it offered a marketplace for […]
Singapore tightens regulations on crypto, again
Singapore on Tuesday passed a law requiring virtual asset service providers to be licensed if they do business overseas, according to Bloomberg. See related article: How Singapore is reimagining its ‘Asian crypto hub’ image Fast facts The new legislation is an attempt by The Monetary Authority of Singapore (MAS) to ensure that it has adequate […]
India to make life hell for crypto investors: MP
India needs to discourage people from investing in cryptocurrencies and digital assets, a senior MP from the ruling party told Forkast in an exclusive interview.
UK to regulate stablecoins for payments in crypto hub push
The U.K. has released a detailed plan to regulate stablecoins as payments along with an intention to create a blockchain sandbox to mark Her Majesty’s entry into the “crypto hub” race. See related article: UK regulator may cancel Eqonex’s registration over Binance, Bifinity ties Fast facts The government plans to amend the Banking Act 2009 […]
Indonesia levies 0.1% VAT, income tax on crypto
Indonesia will tax income from crypto trading at 0.1% and impose an additional value added tax (VAT) of 0.1% on crypto transactions starting May. See related article: Indonesian regulators play catch-up as crypto investment soars Fast facts The tax rate is lower than the 11% tax that the Indonesian government levies on other goods and […]
Crypto staking provider RockX raises $6M in Series A funding
RockX Tuesday said it raised US$6 million in series A funding, valuing the crypto staking platform serving institutional and high net worth investors at about US$30 million. Fast facts The funding was led by digital asset platform Amber Group and other crypto industry leaders including Matrixport, Primitive Ventures, FBG Capital, Draper Dragon, IMO Ventures, Alpha […]
Is Singapore retreating from its global crypto hub ambitions?
Singapore’s approach may seem increasingly anti-crypto to some, but not to those tracking its policies closely. Danny Chong of Tranchess explains what’s going on.
DBS Bank slams brakes on retail crypto trading
Singapore’s largest lender won’t expand cryptocurrency trading on its exchange to retail investors any time soon due to “regulatory restrictions” in the island state. See related article: How Singapore is reimagining its ‘Asian crypto hub’ image Fast facts CEO Piyush Gupta said that regulatory agencies are “rightfully concerned” about holding back cryptocurrency trading for retail […]
China’s e-CNY push; India’s crypto tax kicks in
India’s long-awaited crypto tax comes into effect. Meanwhile, China expands the digital yuan program.
South Korean banks seek green light on crypto
The Korea Federation of Banks (KFB) may request South Korea’s incoming presidential administration to approve local banks servicing cryptocurrencies, according to a leaked draft report. See related article: South Korea’s largest financial group mulls crypto ETFs Fast facts KFB, the largest body representing domestic lenders, wrote in its report that banks should be permitted to […]
China’s digital yuan expands to five more cities
Residents in five more Chinese cities were able to access digital yuan wallets starting Thursday, marking a major development for central bank digital currencies (CBDCs) globally. See related article: Asian Games set for digital yuan, metaverse pilots, tech firm claims Fast facts See related article: Digital yuan pilot attracts Chinese province bordering Russia
Crypto tax in India is now a reality
India’s 30% flat levy on all capital gains made on cryptocurrencies kicked in on April 1 in a development likely to stifle the relatively nascent industry in the country. See related article: India’s crypto tax will incur losses for government, says WazirX CEO Fast facts Finance minister Nirmala Sitharaman has been facing investor backlash over […]
European Union to track all crypto transfers
European lawmakers have voted to introduce new legislation designed to stop illicit flows amid industry pushback claiming the measures will stifle innovation and infringe on privacy. See related article: EU votes against de facto Bitcoin mining ban Fast facts The proposal requires crypto service providers to collect information on senders and beneficiaries in all crypto […]
China’s WeChat bans NFT accounts; Zilliqa token soars
NFTs accounts banned from WeChat due to “crypto speculation”. Meanwhile, Zilliqa on the rise after Metapolis announcement.
WeChat bans NFT accounts, citing ‘crypto speculation’
WeChat has blocked more than a dozen accounts belonging to non-fungible token (NFT) marketplaces from its social media platform, citing prevention of “crypto speculation.” See related article: China state-backed paper’s NFTs surge in price on second-hand market Fast facts When visited, the banned accounts of the NFT marketplaces displayed a message from WeChat: “No legal […]
India’s financial stability at risk from cryptos: IMF
The International Monetary Fund (IMF) is voicing concerns over the adoption of cryptocurrencies in India, suggesting it poses significant risks to the country’s financial stability, local media report. See related article: Killing it softly or regulating to innovate? India at the crypto crossroads Fast facts Crypto assets pose significant risks, including to financial stability in […]
Alibaba invests in AR; Ronin Network hacked
Alibaba makes a $60M metaverse bet on AR glasses maker Nreal. Meanwhile, Axie’s Ronin blockchain gets hacked.
Is Dubai the new crypto promised land?
Top blockchain and cryptocurrency news: Dubai’s crypto caravan. Mt. Gox unlocked. Digital yuan in play again.
Indian district issues caste certificates on Polygon
A district government in Maharashtra, India, has started stamping 65,000 caste certificates through LegitDoc, a document-verifying system on the Polygon blockchain. See related article: India releases ‘National Strategy on Blockchain’ for e-governance Fast facts In India, caste certificates are used by marginal communities such as tribes to gain access to certain government benefits and subsidies. […]
Indian MP proposes raising crypto tax higher than 30%
Sushil Kumar Modi, a member of Parliament (MP), has urged India’s finance minister Nirmala Sitharaman to consider raising the capital gains tax on crypto income to over 30%, the flat rate scheduled to kick in from April 1. See related story: India’s tax bogeyman is scaring off young crypto investors Fast facts The minister argued […]
Hong Kong Exchange to trial digital assets trading in ‘Diamond’ pilot
The Hong Kong Exchange (HKEX) Tuesday revealed plans to launch “Diamond,” a trading platform to pilot digital assets in 2022. See related article: China’s e-CNY pilot to boost Hong Kong as offshore yuan trading center Fast facts See related article: Hong Kong to propose bill to license crypto exchanges
India’s biggest telecom firm latches onto metaverse
Bharti Airtel Ltd., India’s largest wireless telecom services provider by active users, is planning to cash in on the metaverse by leveraging its upcoming fifth-generation radio waves (5G) network, according to local media reports. See related article: Who are the biggest players in the metaverse today? Fast facts Airtel is seeking partnerships with content providers […]
UAE becoming crypto hub; India’s tax bogeyman
The UAE is becoming the new crypto hub of the world. Meanwhile in India, high crypto taxes are scaring away young investors.
Xiamen reveals plan to bolster its metaverse, NFT-related firms
Xiamen has revealed its three-year action plan to nurture its cluster of metaverse firms involved in non-fungible tokens (NFTs), VR/AR, chips and related hardware with over 100 million yuan (US$15 million) in revenue, according to the local government’s working plan. See related article: ‘Metaverse’ enters government radar at China’s Two Sessions Fast facts See related […]
Crypto.com, Bybit book tickets to Dubai to set up UAE bases
Singapore-based cryptocurrency exchanges Crypto.com and Bybit have announced that they will be setting up offices in Dubai, as the industry continues its migration towards the United Arab Emirates (UAE). See related article: As Binance shrinks away in Asia, will it put down roots in the Middle East? Fast facts See related article: Ripple launches first […]
India’s tax bogeyman is scaring off young crypto investors
The country’s attempt to profit from digital asset gains puts off new investors to the asset class, even as existing ones redeploy funds into traditional assets.
Mastercard partners with Australia’s BTC Markets for payment options
Australian crypto exchange BTC Markets has partnered with Mastercard to allow its customers to make direct debit, prepaid or credit card payments to purchase cryptocurrencies from the platform. See related article: Mastercard partners with Australian exchange for crypto card Fast facts The move is part of a broader trend by payments giants like Mastercard and […]
Ukraine’s NFT museum; Bitcoin on the up.
Ukraine launches its NFT Museum of War. Meanwhile, Bitcoin passes $47,000 mark.
ASX blockchain upgrade delayed for fourth time
The Australian Securities Exchange (ASX) has announced its highly anticipated AU$250 million (US$187 million) blockchain project has been delayed for release until late 2023 at the earliest. See related article: Australian Securities Exchange to launch crypto-related ETF Fast facts CHESS, or Clearing House Electronic Subregister System, was initially slated for a blockchain upgrade by April […]
Asian Games set for digital yuan, metaverse pilots, tech firm claims
A Hangzhou-based data firm has confirmed that it is working on the application of the digital yuan and the metaverse in the upcoming 2022 Asian Games. See related article: China’s digital yuan app now publicly accessible, one step closer to launch Fast facts See related article: 2022 Asian Games in Hangzhou to sell torch NFTs […]
South Korea recruits NFT experts for metaverse boot camp
South Korea’s Ministry of Science and ICT (MSIT) is recruiting extended reality, artificial intelligence, and non-fungible token (NFT) experts for its upcoming boot camp designed to train future metaverse professionals. See related article: South Korea wants to be the physical home of the metaverse Fast facts MSIT is launching what it calls the nation’s first […]
Ukraine’s NFT museum of Russian conflict goes live
Ukraine’s Ministry of Digital Transformation launched the Meta History Museum of War on Friday, a museum hosted on the Ethereum and Polygon networks that chronicles the country’s war with Russia through non-fungible tokens (NFTs). See related article: Zelenskyy legalizes cryptocurrency in Ukraine Fast facts “Disinformation is used by Russia on a par with deadly military […]
China’s Greenland plans cross-border carbon credit trading with Singapore exchange
Chinese state-backed real estate giant Greenland Group has formed a partnership, through its financial arm, with Singapore-based digital securities exchange MetaVerse Green Exchange (MVGX), to offer cross-border digital carbon credits trading services. See related article: China eyes blockchain for carbon trading Fast facts The partnership will allow accredited, institutional investors to trade digital carbon credits […]
Russia’s bitcoin for oil proposal; Crypto market makes gains
Russia considers a bitcoin for oil proposal. Meanwhile, crypto markets make gains after weeks of volatility.
Killing it softly or regulating to innovate? India at the crypto crossroads
India’s crypto tax represents both a threat to the industry and an opportunity to create a regulatory framework to support it, says Polygon’s Jaynti Kanani.
DeFi, NFT access at stake as FATF travel rule takes effect in South Korea
Flexibility allowed in new rule requiring crypto companies to comply with anti-money laundering guidelines leads to some confusion.
Bitcoin legal tender status meets stop sign in Malaysia
Malaysia’s deputy finance minister Shahar Abdullah turned down a proposal to adopt Bitcoin as legal tender on Thursday, calling cryptocurrency unfit for payments. See related article: Malaysia ministry: adopt crypto as legal tender to engage the young Fast facts Abdullah voiced concerns around cryptocurrencies’ price volatility and cyber security risks. Zahidi Zainul Abidin, the deputy […]
S.Korea tosses travel rule private wallet compliance to exchanges
South Korea’s financial watchdog has passed on the compliance of private cryptocurrency wallets to exchanges, as the Financial Action Task Force (FATF) travel rule went into effect on Friday. See related article: FATF updates regulatory guidance for crypto industry Fast facts “The travel rule only regulates transactions among individuals. There isn’t any rule pertaining to […]
EarnU taps Indian crypto sports enthusiasts
EarnU, a play-to-earn crypto sports and esports prediction platform, has forayed into India, to target betting Indians looking to earn crypto rewards for correct predictions. See related article: How sports and crypto are knocking it out of the park Fast facts EarnU is a game that is free to play for BETU token holders. While […]
China takes aim at corruption in underground Bitcoin mines
China’s anti-graft watchdog has warned that authorities are keeping a close eye on possible corruption behind underground cryptocurrency mining that persists even after the government banned the sector. See related article: China ousts former official for supporting crypto mining, corruption Fast facts The Central Commission for Discipline Inspection (CCDI) of the Chinese Communist Party said […]
Russia proposes Bitcoin payments for oil and energy exports
Russia State Duma deputy and Energy Committee chairman Pavel Zavalny proposed Bitcoin and national currencies as payment options for energy exports to “friendly countries,” such as Turkey and China, at a press conference on Thursday. See related article: EU says crypto included in sanctions against Russia and Belarus Fast facts Zavalny proposed gold and Russia’s […]
Bollywood Icon’s Tax Bill; Metaverse Fashion Week Opens
Chinese telecom ZTE registers metaverse-related trademarks. Meanwhile, Bollywood star gets chased over NFT taxes.
How to protect NFT intellectual property rights explored at Australian Blockchain Week
With explosive growth in the past 12 months, the non-fungible token industry is getting too big to ignore IP licenses, experts say.
Thailand bans Bitcoin and crypto payments
Cryptocurrency payments will be banned in Thailand starting April 1, the Securities and Exchange Commission (SEC) announced on Wednesday. See related article: Thailand eases crypto tax burden until 2023 to promote industry Fast facts The SEC said price volatility, lack of customer safeguards, money laundering and cyber theft risks drove the decision to ban cryptocurrencies […]
Bollywood megastar Amitabh Bachchan ponies up tax on NFT sale
Bollywood icon Amitabh Bachchan is in the crosshairs of Indian tax authorities again, this time for NFT sales.
Chinese telecom giant ZTE snaps up metaverse-related trademarks
Chinese telecommunications equipment maker ZTE has successfully registered a number of metaverse-related English trademarks. See related article: ‘Metaverse’ enters government radar at China’s Two Sessions Fast facts ZTE’s trademarks fall under the scientific equipment and communication services categories, setting the stage for the firm to provide related services in the metaverse. The partially state-owned Chinese […]
South Korea’s second-largest conglomerate to issue own cryptocurrency
South Korean megacorporation SK Group’s information technology-investment arm, SK Square, is preparing to launch a cryptocurrency this year to build a blockchain-based virtual economy that would link its group of information and communications technology (ICT) businesses. See related article: South Korea wants to be the physical home of the metaverse Fast facts SK Square established […]
Fusang defers IPO; Yuga Labs hits $4bn valuation
Malaysia’s Fusang defers their IPO. Meanwhile, Blockchain Week Australia looks into intellectual property rights.