Region

Amid growing concerns around algorithm biases and their societal impact, India Prime Minister Modi calls for international consensus on ethical AI and crypto governance at the B20 summit. 

Bitcoin and other major cryptocurrencies face headwinds on the first trading day of the week in Asia following the U.S. central bank’s Jackson Hole Symposium remarks, while Tron bucks the trend with modest gains.

Binance, the world’s largest crypto exchange, has removed sanctioned Russian banks from its P2P trading service, the Wall Street Journal reported on Friday. 

Sam Bankman-Fried pleads not guilty to misusing customer funds. North Korean hackers could cash out US$40 million worth of stolen Bitcoins

Mastercard and cryptocurrency exchange Binance will end their crypto debit card program in Argentina, Brazil, Columbia and Bahrain from Sep. 22.

The Tornado Cash mixer’s co-founders have been charged by the U.S. Department of Justice with money laundering and sanctions violations.

Blockchain technology in Thailand could soon receive a boost by new Prime Minister Srettha Thavisin, who had promised during his campaign to give 10,000 baht (US$300) through digital wallets to every Thai citizen aged 16 years and above.

This final installment of a 3-part series on the U.K. digital asset industry looks at the politics driving the British crypto conversation. PM Rishi Sunak is a believer, but an election’s coming up, and his rivals appear less keen on turning the U.K. into a global crypto hub.

Binance continues to help a significant amount of Russian funds move abroad through crypto transactions, according to The Journal.

CoinDCX, one of India’s largest cryptocurrency exchanges, said on Wednesday it is laying off 12% of its staff due to the impact of a prolonged bear market and local tax rules. 

How can we claim to own something that falls outside traditional categories of personal property? In this second installment in a 3-part series looking at the U.K. digital asset industry, Law Commissioner for England and Wales Sarah Green explains how.

This first installment in a 3-part series on the U.K. digital asset industry looks at recent efforts to regulate crypto and expand the sector.

Welcome to Forkast IQ, presented by Angie Lau, where we look beyond the headlines to get you insights that power smarter decisions. Coming up on today’s show:

Macroeconomic factors hit investor sentiment while a U.S. judge’s consent to SEC over its ongoing tussle with Ripple Labs affects crypto prices.

Global institutional intrigue in digital currencies grows but the cryptocurrency market shows no signs of rallying.

Top blockchain and crypto news: Singapore steps up stablecoin rules. DeGods decline. Hong Kong’s third crypto license.

PayPal will pause cryptocurrency sales in the United Kingdom for a minimum of three months starting October 1.

Bitcoin extends the day’s losses but keeps above US$29,000, while Binance’s BNB drops amid exchange’s payment service closure.

The Monetary Authority of Singapore unveiled a stablecoin regulatory framework on Tuesday as the city-state aims to become a global hub for the crypto industry.

Most countries allow only government to mint currency, but in the land of public-private partnerships, legal tender HKD notes are issued by private banks.

Australian banks are heightening scrutiny on digital asset exchanges and restricting crypto payments due to rising scams and frauds. Caroline Bowler, CEO of BTC Markets highlights the challenges and opportunities faced by the industry in the country.

Bitcoin rose slightly in the past 24 hours while Ether lost. Dogecoin and Solana were the day’s biggest losers, both dropping by over 1%, although both posted gains on the week.

Sam Bankman-Fried, founder of the collapsed crypto exchange FTX, was jailed Friday and his bail revoked ahead of his trial for fraud scheduled for October 2.

Two U.S. senators have re-introduced the ‘‘Digital Asset Anti-Money Laundering Act of 2023’’ after months of delay, which puts greater emphasis on industry participants such as miners and validators. If the bill is passed, all crypto participants will be required to report transactions of over US$10,000.

South Korean prosecutors are looking to submit the recent U.S. ruling on Ripple to a Seoul court to prove Luna as financial securities.

Litecoin lost the most in the past 24 hours, followed by XRP, while Tron led gains.

HashKey Exchange and OSL — the only two cryptocurrency exchanges licensed by the Hong Kong SFC — received license upgrades Thursday to service retail investors.

Japan’s blockchain group urges tax change. Bitcoin NFT struggles but it may be a sleeping giant. Litecoin falls after halving.

Officials at the U.S. Department of Justice (DOJ) are considering fraud charges against Binance, according to news site Semafor.

Binance announced the launch of Binance Japan on Tuesday, offering 34 cryptocurrencies.

Bitcoin fell in Tuesday afternoon trading in Asia, dipping below the support level of US$29,000.

Bitcoin and Ether slipped during Monday afternoon trading in Hong Kong along with all other top 10 non-stablecoin cryptocurrencies by market capitalization, except the BNB token, with crypto markets poised for an uneventful month ahead, industry experts told Forkast.

Concerns arise over Worldcoin’s free crypto. NFT market does a crabwalk. Japan’s next big thing for the metaverse.

The Tokyo WebX Asia conference, which claimed to be the largest of its kind in Asia, wrapped on Wednesday after two days of exhibitions, crypto-themed side events, and debate on what Japan needs to do to be a central part of the future of the digital asset industry.

Across Asia, projects dedicated to asset tokenization have become a cornerstone of the new digital economy, showing the world the technology’s possibilities.

Delio halted interest payments for all users on Monday, after announcing difficulties in providing services as usual.

Already home to most of the world’s gamers, Asia has a rich pedigree in seeding and embracing new technologies, writes Robbie Ferguson of Immutable.

Welcome to Forkast IQ, presented by Angie Lau, where we look beyond the headlines to get you insights that power smarter decisions. Coming up on today’s show:

Mainland tourists can now shop in Hong Kong with Chinese CBDC, as part of a digital yuan shopping festival launched this week by the Bank of China (Hong Kong).

McDonald’s Hong Kong has joined the likes of Adidas, Coca-Cola, Gucci and other global brands with Thursday’s launch of its own metaverse.

Top blockchain and crypto news: Ripple not clear of hurdles | NFTs in historically slow period | Hong Kong banks dither

P0x Labs, the developer behind layer-1 zero-knowledge blockchain Manta Network, has secured US$25 million for the Network’s expansion in Asia.

NAB, one of Australia’s “big four” banks, announced it is taking action to block some payments to “high-risk” cryptocurrency exchanges, as part of its new measures aimed at protecting customers from scams.

Bitcoin and Ether rose during Wednesday afternoon trading in Hong Kong, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization.

Shinhan Bank, the second largest bank in South Korea, and SCB TechX, the technology unit of Siam Commercial Bank, the oldest bank in Thailand, announced on Tuesday that they completed a second stablecoin transaction trial on the Hedera, a public distributed ledger network. 

XRP continued its rally after XRP issuer Ripple’s favorable ruling last week in its lawsuit with the U.S. Securities and Exchange Commission (SEC).

As the US is engulfed in regulatory strife, Asian countries are rolling out legal frameworks that attract crypto investment, protect consumers and encourage innovation.

The U.S. SEC has accepted BlackRock’s application for a spot Bitcoin ETF, a major step for the potential launch of the country’s first spot Bitcoin ETF.

Welcome to Forkast IQ, presented by Angie Lau, where we look beyond the headlines to get you insights that power smarter decisions. Coming up on today’s show:

Europe’s first spot Bitcoin exchange-traded fund (ETF) is expected to be publicly listed this month, following a 12-month delay from the initially planned date

Bitcoin prices fell below US$30,500 in the past 24 hours while its trading volume has gained over 20%. Ether also fell. Cardano and BNB were the day’s biggest losers.

Bitcoin trade volumes dropped in the last 24 hours but the token is holding steady above US$30,500. Binance’s BNB token posted the biggest gain while most other top 10 cryptocurrencies traded mixed.

The Seoul Southern District Prosecutors’ Office announced that it will launch the Virtual Asset Joint Investigation Unit at the end of this month.

South Korea’s FSC is requiring companies that issue or own cryptocurrencies to provide detailed crypto disclosures from 2024.

Bitcoin breached US$31,000 level in the past 24 hours after falling back to hold above US$30,000. Ether and all other top 10 cryptos gained.

The Japanese gaming giant is currently somewhere in the Web 2.3 to 2.7 range, says co-Chief Operating Officer Shuji Utsumi.

Bank of England governor Andrew Bailey said Bitcoin and other cryptocurrencies don’t meet standards to be recognized as money.

The global cryptocurrency industry is valued at US$180 billion, with over 10,000 companies employing a total of 190,000 employees, according to a July 5 report from crypto intelligence firm K33 Research. See related article: Singapore, Thailand clarify crypto rules; NFTs become new cultural frontier Fast facts See related article: South Korea, Singapore, Thailand clarify crypto […]

All top 10 cryptocurrencies, including Bitcoin and Ether, drop over the last 24 hours while investors brace for more interest rate hikes in the U.S.

Welcome to Forkast IQ, presented by Angie Lau, where we look beyond the headlines to get you insights that power smarter decisions. Coming up on today’s show:

Hong Kong, Japan, Singapore and Thailand have regulations supporting the growth of tokenization, showing the world the benefits of fractionalizing assets.

A South Korean academic tracking on-chain data says Do Kwon, the imprisoned founder of the now collapsed Terra-Luna crypto project, seems to have outside help in moving stablecoins from his digital wallets into other cryptocurrencies.

Southeast Asia steps up regulation. No end in sight for NFT market decline. Voyager’s shrinking portfolio.

Singapore-based DBS bank has introduced a “merchant collection solution” using e-CNY – China’s central bank digital currency – to allow corporate clients of DBS China to collect payments from their customers in e-CNY, and avail the automated settlement of e-CNY directly into their bank deposit account.

Australian Securities and Investments Commission (ASIC), the country’s financial services regulator, searched the local offices of Binance on Tuesday as part of an ongoing investigation of the exchange’s derivatives business, a Bloomberg report said.

Indian Web3 firm Airchains has announced a partnership with the New Town Kolkata Development Authority of West Bengal, to release 500,000 NFTs in hopes to enhance registration and transfer of land ownership. 

Bitcoin and Ether fell during Tuesday afternoon trading in Hong Kong, while most of the top 10 non-stablecoin cryptocurrencies by market capitalization were mixed.

Cryptocurrency service providers in Singapore will have to keep customer assets under a statutory trust before the end of the year, for safekeeping purposes, the city state’s central bank announced Monday.

Hong Kong’s local government on Friday set up the Task Force on Promoting Web3 Development to promote the benefits of blockchain to real-world industries.

Kapoor founded the India Blockchain Alliance five years ago and gives an update on how the technology is being used in police reports to real estate transactions, as well as challenges of CBDC adoption and plans for tokenization of assets. He spoke in an interview for Forkast IQ.

South Korea approved a bill to protect cryptocurrency investors as part of building the country’s first legal framework devoted to digital assets.

Ripple Labs’ Asia-Pacific branch is offering digital payment services in Singapore after receiving in-principle approval of its license application from the MAS on June 22. What does that mean for the company’s Asia business?