Region

China’s Blockchain Services Network rolling out NFT infrastructure, while Palau plans to issue stablecoin.

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 […]

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

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 […]

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 […]

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 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 […]

Online influencers may be improving crypto-financial literacy for millions of people. But regulators have growing concerns.

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 […]

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, as HK plans new crypto regulation.

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 […]

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

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 […]

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 […]

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 […]

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 […]

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 […]

Developers adopt NFT technology to promote staple video game franchises, but reaction from a number of gamers has been negative.

Taiwanese’s superstar Jay Chou’s NFT dethrones Bored Ape Yacht Club. Meanwhile Bitcoin dips below US$40k mark.

Internet blackouts are partially restored but access remains unpredictable to support full crypto mining, industry players say.

China’s top economic planning body has officially designated crypto mining as “obsolete,” reinforcing government efforts to stamp out the industry entirely.  Fast facts

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 […]

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 […]

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. […]

China’s e-CNY app downloaded 16 million times meanwhile in Kazakhstan the outages hit miners

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 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

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 to open a “Meta-Factory”, meanwhile crypto divergence ahead for the year 2022.

What’s behind the crypto cheerleading by U.S. mayors? Are their city coins savvy moves — or will the bespoke crypto end up worthless?

Gaming metaverse the Sandbox announced the partners for its upcoming Hong Kong-influenced virtual cultural hub.

Kazakh riots hit miners, meanwhile Fed hits crypto market

The US tech giant will pour $40M via private placement in Ennoconn, as the iPhone supplier continues to dream big for metaverse.

Bitcoin hashrates tumble as miners unprepared for an outage, experts say.

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 […]

The ability to display, buy and even mint NFTs is seeping into mainstream products from South Korea’s largest corporations.

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 […]

Some of India’s largest crypto exchanges, including WazirX, blame ambiguity in the regulation of cryptocurrencies for missed tax payments.

Since China’s crypto bans, Kazakhstan has become a popular destination of energy-intensive crypto mining companies.

Top blockchain and crypto news: CBDCs at the crossroads. A token gesture from Samsung. NFTs survive in China.

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 […]

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.

A CryptoPunk is sold in a Shanghai auction house despite an existing crypto ban in China.

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 […]

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 […]

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 […]

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 […]

The world’s largest crypto exchange continues struggling to stay compliant, but it has seen some luck in the Middle East.

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 […]

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?

Countries acted to encourage — or discourage — cryptocurrency and other blockchain-based assets, sending markets wildly up and down.

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?

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 scam 7,000 Solana, or US$1.3 million, from would-be buyers of a new NFT collection of the Monkey Kingdom project.

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.

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 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, also are the days numbered for SWIFT?

An investor who received $1.25M in Bitcoin by accident will not be criminally penalized, raising questions on the legal status of cryptocurrencies.

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, none the less 2021 becomes crypto’s landmark year.

Asia’s gaming giant Nexon’s US subsidiary supports cryptocurrencies for players in buying items inside its popular online games.

In a contract dispute case, a Beijing court in Chaoyang district on Wednesday ruled a legal arrangement for Bitcoin mining to be invalid, signaling how China’s legal system may view future crypto-related disputes. Fast facts In May 2019, the plaintiff, Fengfu Jiuxin company, signed purchases and services contracts with blockchain technology company Zhongyan Zhichuang, with the latter […]

Games like Axie Infinity are now the darlings of big investors. Does it matter that revenue is falling and many players earn less than the minimum wage?

While China continues to stamp out cryptocurrency mining, the mining rig producers continue raking in the deals. The latest: Canaan, a Chinese crypto mining rig maker, has secured a follow-on contract from Genesis Digital Assets for 30,000 units of Avalon Bitcoin mining machines, with another 150,000 units to be executed. Fast facts Back in August, […]

Lotte Cinema, one of South Korea’s largest movie theater chains, is giving away NFTs (non-fungible tokens) of the movie “The Matrix Resurrections” to people who reserve tickets to the latest addition in the popular science fiction series that depicts life in a simulated reality. Fast facts In collaboration with Warner Bros. and NFT tech startup […]

Top blockchain and crypto news: Can stablecoins bankroll democracy? Nike swooshes into the metaverse. Animoca and Bored Apes venture deeper into the gaming jungle.

Legendary Japanese manga artist Tezuka Osamu’s beloved “Astro Boy,” which was first published in 1952, has been made into NFT (non-fungible token) collectibles, one of which was listed on OpenSea for auction. Fast facts With the help of NFT solution startup double jump.tokyo, Tezuka Productions launched its first official NFT art project — “From the […]

Binance, the world’s largest cryptocurrency exchange, today announced that it has set up a joint venture with the venture capital arm of Telkom Indonesia, the country’s largest telecommunication company, to develop a new digital asset exchange there. Fast facts Binance said in a statement that it has teamed up with MDI Ventures — a US$830 […]

The report says the country’s crypto industry could swell by up to 30 times its current size in the coming decade.

An internet authority in East China’s Zhejiang province has identified in July 4,699 IP addresses in the province that were involved with cryptocurrency mining, and among them 183 addresses were related to 78 state-owned entities, according to a Tuesday article published on the website of China’s Central Commission for Discipline Inspection (CCDI), the country’s anti-corruption […]