Australian Open enters metaverse; Chinese university goes virtual
Australian Opens just opened in the metaverse and a Chinese university launches a virtual campus.
Singapore central bank warns against crypto marketing, promotion
The Monetary Authority of Singapore (MAS), the country’s central bank, issued guidelines to restrict cryptocurrency service providers from marketing or promoting their services to the general public on Monday. Fast facts MAS warned businesses to refrain from promoting cryptocurrencies and related services to Singaporeans in public areas, including websites and social media. However, firms are […]
The Australian Open launches on the metaverse, attracting digital fans
In the latest sign of growing blockchain adoption, the tennis tournament expands to the metaverse, offering rewards and participation through NFTs.
As Binance shrinks away in Asia, will it put down roots in the Middle East?
Binance’s CEO is now the richest Asian man, but the crypto exchange giant’s presence in Asia—where Binance got its start—is withering under regulatory heat.
Pakistan agency wants to block crypto portals, report says
Pakistan’s top investigation agency is looking to block crypto websites over fraud and money laundering concerns, according to a news report, less than a week after the country’s central bank recommended an outright ban on cryptocurrencies. Fast facts Federal Investigation Agency (FIA) Director-General Dr. Sanaullah Abbasi said on Saturday the agency would approach the Pakistan […]
Top Chinese university launches on Baidu’s metaverse
A major university in China has become the country’s first academic institution to join the metaverse, after it reproduced its physical campus as a virtual university on Baidu’s XiRang platform. Fast facts The Communication University of China announced last week that the digital campus had hosted an anniversary celebration and awards ceremony on Dec. 26, […]
S. Korean lawmaker takes Bitcoin donations, issues receipts in NFTs
South Korean lawmaker Lee Kwang-jae announced on Sunday that he has started accepting political donations in cryptocurrencies. Fast facts Donors can use Bitcoin, Ethereum, Kakao’s KLAY, media industry-focused NEWS, and payments-focused Paycoin, while receipts can be issued as non-fungible tokens (NFTs), according to Lee’s website. The first donor was an anonymous professional from the blockchain […]
Wuhan pledges to develop metaverse to boost Covid-ravaged economy
Wuhan, the major city in central China where Covid-19 first emerged, has announced plans to embrace the metaverse in an effort to boost its pandemic-devasted economy. Fast facts The government of Wuhan, the capital city of Hubei province, will push ahead with integrating the metaverse, blockchain, big data, cloud computing, geospatial information and quantum technology […]
Chinese university warns against Norton’s Ethereum mining function
Xiamen University of southeast China is warning its staff and students to not use Norton 360 antivirus software for its Ether mining function, citing the nation’s crypto mining ban policy. Fast facts
Palau plans to issue stablecoin; China rolling out NFT infrastructure
China’s Blockchain Services Network rolling out NFT infrastructure, while Palau plans to issue stablecoin.
Fed nominee looks to Congress for guidance on US digital dollar
The U.S. Federal Reserve is deferring to Congress to decide whether to introduce a central bank digital currency (CBDC), Lael Brainard told the Senate banking committee Thursday at her Fed vice chair nomination hearing. Fast facts Republican Senator Cynthia Lummis asked whether the vice chair nominee believed that the digital dollar should be available to […]
$1.5 billion worth of digital yuan transacted in Beijing last year
Residents in Beijing recorded 9.6 billion yuan (US$1.5 billion) worth of digital yuan transactions in 2021, after several rounds of coupon-driven promotions, according to state media, citing official data. Fast facts
China to launch own NFT infrastructure by end Jan, BSN confirms
A Chinese state-backed blockchain network plans to launch non-fungible token (NFT) infrastructure that has no link to cryptocurrency by the end of this month, one of its creators told Forkast. Fast facts He Yifan, CEO of Red Date Technology, a developer of the Blockchain-based Service Network (BSN), a project to spur mass adoption of blockchain […]
Bitcoin and Ethereum futures ETFs may be in the cards for India
India may soon get its first Bitcoin and Ethereum futures exchange traded funds (ETFs) pending approval by a financial regulator. Fast facts India INX, the international arm of BSE (formerly Bombay Stock Exchange) and Torus Kling Block Chain IFSC have jointly sought regulatory approval for a Bitcoin and an Ethereum Futures ETF, according to a […]
North Korea hacked US$400M of crypto in 2021, says Chainalysis
State-backed hackers from North Korea stole cryptocurrencies worth about US$395 million last year across at least seven cyber attacks, according to Chainalysis, a blockchain data company. Fast facts Several of the attacks were likely led by Lazarus, a group of hackers believed to be backed by North Korea’s primary intelligence agency, the Reconnaissance General Bureau, […]
Palau to issue stablecoins in digital overhaul, president says
Palau will issue a stablecoin to support plans for a digital overhaul of its economy, according to its president. Fast facts President Surangel S. Whipps, Jr. said the Pacific archipelago was also working on establishing a crypto exchange, a corporate registry and digital wallets for each resident in its digital revamp. Palau is planning a […]
Crypto ‘finfluencers’ are attracting a new following — of regulators
Online influencers may be improving crypto-financial literacy for millions of people. But regulators have growing concerns.
Blockchain to enhance water supply chains in northern Australia
A new project in northern Australia is using blockchain technology to improve supply chains in the water market in one of the first applications of its kind. Fast facts More than 1,000 farmers in the northeastern state of Queensland have partnered with blockchain firm Civic Ledger and other groups for the project to address growing […]
Hong Kong outlines stablecoin regulation plan to check financial stability risks
Stablecoins and CBDCs will likely co-exist in the city, experts say, as Hong Kong looks to thrive as crypto hub.
Korean prosecutors demand life; HK plans new crypto regulation
Korean prosecutors demand life, as HK plans new crypto regulation.
Pakistan’s central bank recommends ban on crypto, reports say
Pakistan’s central bank has recommended that all cryptocurrencies should be officially banned in the country, according to multiple local media reports, in response to an ongoing lawsuit before a provincial high court. Fast facts In a report submitted on Wednesday to the Sindh High Court, which is hearing a case on cryptocurrencies, the central bank […]
Hackers demand 0.042 Bitcoin from Chinese supermarket
A computer database at a supermarket in eastern China is being held hostage by cybercriminals demanding 0.042 Bitcoin, which amounts to US$1,832, according to a Chinese media report. Fast facts
S. Korean prosecutors seek life sentence for crypto execs in fraud case
Prosecutors in South Korea are demanding life sentences for seven former executives of a now-defunct cryptocurrency exchange who were charged with defrauding investors of just under US$1.9 billion. The executives are not yet convicted, and the trial judge will deliver a verdict on Feb. 11. Fast facts The executives of V Global allegedly took about […]
Indian government may double tax on crypto, report says
The Indian government is mulling the taxation of cryptocurrencies as business income, in a decision which could double the tax burden on investors, according to a local report. Fast facts Currently, crypto earnings are taxed as capital gains, which stand at 20%, while business income rates reach as high as 42%. Taxing each crypto transaction […]
Webtoon Solo Leveling NFTs sell out quickly after S.Korea launch
Non-fungible tokens (NFTs) based on a wildly popular fantasy action digital comics series backed by South Korean internet giant Kakao have sold out soon after launch on Wednesday. Fast facts The NFTs, launched by Kakao Entertainment, are based on webtoon Solo Leveling, which has amassed a whopping 14.2 billion views globally since its launch in […]
Telecoms giant China Unicom accepts digital yuan for phone bills
China’s No. 3 telecoms provider has started accepting payment for phone bills in digital yuan on its app, in the latest move by a major firm to advance the country’s fledgling central bank digital currency (CBDC) efforts. Fast facts Since earlier this week, China Unicom customers have had the option of using digital yuan, also […]
Indian authorities seize assets in alleged $162M crypto scam
The Enforcement Directorate in India seized assets of a businessman worth around US$4.9 million in a money laundering case involving a crypto scam, according to a press release on Monday. Fast facts Nishad K and his associates allegedly perpetrated a crypto scam in which some 900 investors were cheated out of approximately US$162.4 million. The […]
NFTs may be the next killer app for video games, but some traditional players object
Developers adopt NFT technology to promote staple video game franchises, but reaction from a number of gamers has been negative.
Jay Chou dethrones Bored Ape Yacht Club; Bitcoin dips below US$40k
Taiwanese’s superstar Jay Chou’s NFT dethrones Bored Ape Yacht Club. Meanwhile Bitcoin dips below US$40k mark.
Kazakh crypto miners remain hopeful, assess satellite option amid unrest
Internet blackouts are partially restored but access remains unpredictable to support full crypto mining, industry players say.
China officially labels crypto mining as ‘obsolete’
China’s top economic planning body has officially designated crypto mining as “obsolete,” reinforcing government efforts to stamp out the industry entirely. Fast facts
Kakao-backed Klaytn announces 5 partners for gaming and metaverse expansion
Klaytn, a public blockchain platform under South Korean internet giant Kakao, announced on Monday five partnerships to drive plans to become a global blockchain benchmark for the increasingly competitive gaming and metaverse space in 2022. Fast facts Klaytn is partnering with Japanese tech giant GMO Group, Indonesia’s Innovation Factory, NFT marketplace East NFT, U.S.-based entertainment […]
Aussie tennis star rides NFT wave as Australian Open looms
Australian cryptocurrency exchange BTC Markets has partnered with the country’s No. 2 tennis star Ajla Tomljanovic ahead of the Australian Open to release limited edition non-fungible tokens (NFTs). Fast facts The NFTs will be in the form of Proof of Attendance Protocol, akin to a digital concert ticket stub proving attendance, that will allow owners […]
Taiwan icon Jay Chou’s PhantaBear NFT dethrones Bored Ape Yacht Club
A new non-fungible token (NFT) collection backed by Taiwanese superstar Jay Chou has dethroned Bored Ape Yacht Club (BAYC) on the OpenSea NFT marketplace in trading volume, reflecting growing interest in celebrity-endorsed digital collectibles. Fast facts The PhantaBear NFT series, co-created by Jay Chou’s hipster brand PHANTACi, sold out its 10,000 algorithmically-created NFTs on Jan. […]
e-CNY app downloaded 16 million times; Kazakhstan outages hit miners
China’s e-CNY app downloaded 16 million times meanwhile in Kazakhstan the outages hit miners
Is the CFTC expanding its powers over crypto without authorization from Congress?
The CFTC is asserting greater regulatory powers over the crypto industry than ever before. But does the agency have the statutory backing to do so?
China’s digital yuan wallet gets 16 million downloads in debut week
China’s pilot e-CNY wallet application, currently available in a dozen major cities, topped 16 million downloads in the first week after its launch, according to two data providers. Fast facts
Kazakhstan internet restoration still not enough for crypto miners, NetBlocks says
Limited restoration of internet access in Kazakhstan is not enough to bring the world’s second-largest crypto mining hub back fully online, according to internet tracker NetBlocks. Fast facts Last week, internet access in the central Asian nation was shut off after protests over fuel prices spread across the country, resulting in more than 100 deaths […]
Hyundai plans Meta-Factory; Crypto divergence ahead
Hyundai plans to open a “Meta-Factory”, meanwhile crypto divergence ahead for the year 2022.
Race to be crypto hotspot heats up in Miami, New York
What’s behind the crypto cheerleading by U.S. mayors? Are their city coins savvy moves — or will the bespoke crypto end up worthless?
The Sandbox metaverse names Mega City project partners
Gaming metaverse the Sandbox announced the partners for its upcoming Hong Kong-influenced virtual cultural hub.
Kazakh riots hit miners; Fed hits crypto market
Kazakh riots hit miners, meanwhile Fed hits crypto market
Foxconn’s Taiwan subsidiary receives investment from Google for metaverse projects
The US tech giant will pour $40M via private placement in Ennoconn, as the iPhone supplier continues to dream big for metaverse.
Kazakh riots hit crypto miners amid internet blackout
Bitcoin hashrates tumble as miners unprepared for an outage, experts say.
China’s largest food delivery platform Meituan accepts e-CNY payment
Hong Kong-listed Chinese food delivery giant Meituan, which occupies 70% of the market share, on Wednesday started to accept digital yuan for payments, as tested by Forkast.News. Fast facts Users first need to link their wallets to Meituan in the e-CNY app; then they can pay for an order by selecting digital yuan in the […]
LG to follow Samsung adding NFT features to flagship TVs
The ability to display, buy and even mint NFTs is seeping into mainstream products from South Korea’s largest corporations.
Australian Open comes to metaverse platform Decentraland
The Australian Open (AO) is one of the biggest sporting events on the world tennis calendar, and now there is another way to watch, as this year’s tournament will also be held in Decentraland — the decentralized metaverse platform. Tennis fans will be able to participate further through buying non-fungible tokens (NFTs) linked to live […]
Tax authorities recover US$9M from India’s biggest crypto exchanges
Some of India’s largest crypto exchanges, including WazirX, blame ambiguity in the regulation of cryptocurrencies for missed tax payments.
Amid riots over fuel prices, Kazakhstan government resigns
Since China’s crypto bans, Kazakhstan has become a popular destination of energy-intensive crypto mining companies.
CBDCs and the year that may reshape crypto markets
Top blockchain and crypto news: CBDCs at the crossroads. A token gesture from Samsung. NFTs survive in China.
Chinese mining rig maker Canaan deploys 10K machines in Kazakhstan
Chinese cryptocurrency mining rig maker Canaan announced Tuesday that it has entered into multiple partnerships in Kazakhstan and deployed over 10,000 mining machines in the country, as the company steps up efforts to expand globally. Fast facts Canaan said in a statement it has successfully launched the last batch of mining machines online under its […]
Crypto is presidential election campaign issue for South Korea
In South Korea, a new presidential administration will be chosen in March. Here’s where the four major candidates stand on Korea’s booming virtual asset space.
China CryptoPunk sale; Use cases key to DeFi
A CryptoPunk is sold in a Shanghai auction house despite an existing crypto ban in China.
South China’s Guangxi region looks to cross-border e-CNY trade uses
Guangxi, China’s southern provincial-level region, is researching cross-border finance, supply-chain service platforms and e-CNY applications, according to a report by local state-run media Guangxi Daily. Fast facts The Guangxi autonomous region — often seen as a gateway for Association of Southeast Asian Nations (ASEAN) trade — plans to support cross-border circulation of capital, according to the […]
CryptoPunk NFT sells for $820K, reflecting Chinese investor interest
A CryptoPunk non-fungible token (NFT) — CryptoPunk #8690 — was sold at an auction in Shanghai organized by Shanghai Jiahe Auction earlier this week for 5,232,500 yuan (US$823,300), with a starting price of 1.5 million yuan (US$236,000), reflecting growing investor interest in NFTs in China despite criticism from state-controlled media. Fast facts V.V Yu, general manager […]
South Koreans required to report overseas crypto accounts
In South Korea, virtual asset investors with more than 500 million Korean won, or approximately US$418,935, worth of crypto assets in overseas accounts must report to their regional tax authorities beginning in 2023. Fast facts According to a new year guidebook by the Ministry of Economy and Finance, any resident or domestic corporation with overseas […]
China moves to ban internet marketing services for crypto
The Chinese government published a draft regulation on Dec. 31 stating that no organization or individual is allowed to provide internet marketing for illegal financial activities, which include cryptocurrency transactions. Fast facts The regulation, drafted by the People’s Bank of China — China’s central bank — and other Chinese government institutions stipulates that any organization or […]
Binance faces regulatory rebuke in Ontario, obtains preliminary approval in Bahrain
The world’s largest crypto exchange continues struggling to stay compliant, but it has seen some luck in the Middle East.
Japan’s Square Enix reveals blockchain gaming ambitions for 2022
Yosuke Matsuda, president of Square Enix — the game developer behind Final Fantasy, Dragon Quest and Kingdom Hearts — recently reiterated the company’s blockchain ambitions while acknowledging ongoing concerns about the new trend. Fast facts In a new year’s letter posted on the company website, Matsuda emphasized that incorporating blockchain technology into gaming holds “the […]
South Korea crypto exchange underdogs: Where are they now?
A regulatory hurricane swept away half of South Korea’s crypto exchanges in 2021. Who are the survivors — and are there larger lessons for the rest of the world?
Crypto in Asia: 5 top fintech regulatory stories of 2021
Countries acted to encourage — or discourage — cryptocurrency and other blockchain-based assets, sending markets wildly up and down.
What lies ahead for crypto regulations in 2022
From China’s ban to FATF’s travel rule, crypto regulations have been top of mind this year. How might regulatory impulses and current trends play out?
U.S. will be big elephant in the room in 2022, says WEF’s Sheila Warren
While China made a big moves in banning crypto this year, US lawmakers appear to be warming up to the industry, setting the stage for next year.
Hackers infiltrate Monkey Kingdom NFT community, steal US$1.3M
Hackers scam 7,000 Solana, or US$1.3 million, from would-be buyers of a new NFT collection of the Monkey Kingdom project.
These e-CNY hard wallets might get people talking at the Winter Olympics
China prepares to show off its tech innovation muscles at the Beijing Winter Olympics as it unveils some unusual-looking wallets for its new digital yuan.
Countries will jump aboard the crypto bus in 2022 or get left in its dust, says WazirX founder
Despite the looming parliamentary debate over banning private digital currency in India, the founder of Mumbai-based crypto exchange WazirX predicts thousands of new crypto startups.
Japan’s SBI invests in Singapore crypto exchange Coinhako
Japan’s financial conglomerate SBI Holdings announced a joint investment in Singapore’s virtual asset exchange Coinhako with Switzerland-based Sygnum Bank. Fast facts The investment is made through a fund formed in Singapore named the SBI-Sygnum-Azimut Digital Asset Opportunity fund. SBI expressed certainty in supporting Coinhako’s international expansion and other startups that have growth potential in the […]
Court overturns Korean Bitcoin ruling; Days numbered for SWIFT?
Court overturns Korean Bitcoin ruling, also are the days numbered for SWIFT?
Bitcoin sent by mistake, recipient will not be punished for keeping it: South Korea ruling
An investor who received $1.25M in Bitcoin by accident will not be criminally penalized, raising questions on the legal status of cryptocurrencies.
xSpend allows GameFi tokens, stablecoins to pay for real-world goods and services
Crypto finance platform XLD Finance wants to enable users to spend GameFi tokens and stablecoins to pay for real-world goods and services. Fast facts The company has launched its first project, xSpend, which allows users from Bangladesh, India, Indonesia, Malaysia and the Philippines to purchase mobile prepaid credits on the platform using GameFi tokens and stablecoins. Users may also pay Philippine-based […]
Delay likely for India’s crypto bill; Crypto’s landmark year
Delay likely for India’s crypto bill, none the less 2021 becomes crypto’s landmark year.
Game company Nexon America now accepts crypto for in-game payments
Asia’s gaming giant Nexon’s US subsidiary supports cryptocurrencies for players in buying items inside its popular online games.