S.Korea to expand probe on token listing bribes if it sees ‘more evidence’
Taking bribes in exchange for listing cryptocurrencies has been common practice among South Korean exchanges, one expert told Forkast.
Bitcoin, Ether fall; top 10 cryptos mixed; gold closes March 8% higher
Bitcoin and Ether fell during Asian trading hours on Friday, while the rest of the top 10 non-stablecoin cryptocurrencies by market capitalization were mixed, amid mounting allegations against Binance
Crypto platforms need regulation as form of investor protection: HK’s SFC chief
Government officials from Hong Kong and mainland China talked about cryptocurrencies at the Boao Forum in China, as both chase Web3 ambitions.
Bitcoin miner TeraWulf reports 146% revenue growth, expanded mining capacity
U.S.-based Bitcoin miner TeraWulf, which started operations in March last year, reported a 146% surge in revenue in the fourth quarter of last year compared to the previous quarter, citing expanded mining capacity.
Bitcoin rises; Ether, other top 10 cryptos fall amid fresh Binance allegations
Bitcoin, the only gainer in the top 10 non-stablecoin cryptocurrencies by market capitalization, rose during Asian trading hours on Thursday.
Hong Kong may license at least 8 crypto firms by year-end: former SFC regulator
Hong Kong may issue virtual asset trading licenses to at least eight cryptocurrency-related firms by the end of this year as part of the city’s new crypto licensing regime, said Angelina Kwan, chief executive officer of financial services firm Stratford Finance and a former regulator of the Hong Kong Securities and Futures Commission.
Crypto exchange Fasset hopes to win Indonesia license next month
Dubai-based Fasset says Indonesia digital asset adoption is still in early stages, but the country’s young population is taking to crypto faster, encouraging exchanges to move in despite infrastructure constraints.
Russia delays CBDC pilot to await new law
Russia has postponed the trial of a digital ruble originally scheduled for April 1, as it awaits a regulatory framework to be adopted before the pilot, according to a report by state-owned news agency TASS.
EU lawmakers impose €1,000 cap on anonymous crypto, cash transactions
European lawmakers have adopted legislation imposing a €1,000 (US$1,084) cap on anonymous cryptocurrency transactions, as part of the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) package.
Binance faces legal battle as US regulator gets ready to rumble
Top blockchain and crypto news: Binance targeted in CFTC lawsuit. Law catches up with Do Kwon. Chinese banks bet on Hong Kong crypto.
Bitcoin rebounds above US$28,000, XRP leads gains among top 10 cryptos
Bitcoin rallied above US$28,000 in Wednesday afternoon trade in Asia after losing ground earlier in the week when U.S. regulators filed a lawsuit against Binance, the world’s biggest crypto exchange, for allegedly breaching trading rules.
OKX cryptocurrency exchange to apply for virtual asset license in Hong Kong
Seychelles-based cryptocurrency exchange OKX said it will apply for virtual asset licenses to operate digital asset services in Hong Kong.
Bitcoin, Ether extend declines amid U.S. lawsuit against Binance; Asian equities mixed
Bitcoin and Ether continued to fall in Tuesday afternoon trade in Asia, along with most other top 10 cryptocurrencies by market capitalization, after regulators in the U.S. pulled up Binance, the world’s biggest crypto exchange, for allegedly violating trading mandates.
Binance rejects U.S. charges of violating trading rules, manipulating markets
Binance CEO Changpeng Zhao said the charges are “an unexpected and disappointing civil complaint” in response to the CFTC lawsuit filed on Monday against him and the world’s largest crypto exchange.
China state-owned banks turn crypto-friendly in Hong Kong: Bloomberg
China banks in Hong Kong are offering services to crypto businesses, Bloomberg reported on Monday, as more digital asset firms operate in the city.
G7 nations set to push for stricter cryptocurrency regulations at Japan summit in May
The Group of Seven industrial countries will discuss tougher rules on cryptocurrencies to improve transparency, protect investors.
Hong Kong blockchain initiatives natural evolution for finance hub, says Signum Digital CEO
Hong Kong’s new crypto licensing regime isn’t the only bullish sign for the city’s digital asset industry, says Signum Digital, the first company to win a preliminary license to handle securitized tokens in the city.
Hong Kong may face backlog in virtual asset license applications as demand grows, former SFC regulator says
Angelina Kwan, who helped shape early Hong Kong automated trading services and internet trading regulation, told Forkast the upcoming virtual asset licensing regime is almost identical to that for traditional financial institutions.
Hong Kong poised for ambitious changes
Hong Kong has opened its doors to the world once more, and it spared no time hosting blockchain and web3 focused summits.
South Korea arrests former Coinone exchange official for alleged crypto-listing bribery
A former employee of the Coinone exchange was arrested Tuesday on charges of accepting bribes in exchange for listing certain cryptocurrencies.
SEC warns Coinbase of potential legal action over staking, separately targets Tron founder Sun
The Securities and Exchange Commission has warned Coinbase, the largest cryptocurrency exchange in the U.S., it may face legal charges related to staking services and digital asset listings.
Bitget invests US$30 mln in BitKeep wallet, becomes controlling shareholder
Seychelles-based cryptocurrency exchange Bitget said it has invested US$30 million in decentralized multi-chain wallet BitKeep to become its controlling shareholder.
Bitcoin rises above US$28,000; XRP biggest gainer in top 10 cryptos
Bitcoin continued to trade above US$28,000 on Wednesday afternoon in Asia. Ether also rose, along with all other top 10 non-stablecoin cryptocurrencies with XRP and Cardano leading gains.
Internal Revenue Service in U.S. solicits public opinions on proposed NFT taxes
The IRS intends to tax NFTs as collectibles in the U.S. and is soliciting public opinions on the proposal through June.
K-pop star G-Dragon launches NFT on OpenSea with Fandom Studio, BNB Chain
South Korean singer G-Dragon has launched an NFT collection on OpenSea in collaboration with Fandom Studio.
Indian crypto exchange WazirX blocks over 2,400 accounts in 6 months
WazirX, India’s largest crypto exchange by trade volume, has blacklisted over 2,431 accounts between October 2022 and March 2023, based on its internal monitoring process as well as under the direction of law enforcement agencies (LEA).
Bitcoin, Ether extend losses; all eyes on U.S. interest rates
Bitcoin and Ether fell in Tuesday afternoon trade in Asia after rallying through the past week, while financial authorities injected cash into markets to ease liquidity pressures and took other steps to address concerns over a banking sector crisis in the U.S. and Europe.
Crypto needs to look abroad as US exchanges go unbanked
The fall of Silvergate, SVB and Signature has left crypto firms scrambling for new banks. Will crypto banking head offshore for the long term?
Singapore to publish crypto, stablecoin consultation feedback by mid-2023
The Monetary Authority of Singapore (MAS) aims to publish cryptocurrency and stablecoin consultations feedback by the middle of this year, it said Monday.
Over 80 Web3 firms in line to set up shop in HK, ahead of crypto regulations taking effect in June
Over 80 foreign and Mainland China companies have expressed their interest in establishing a Web3 company in Hong Kong, ahead of new crypto regulations that will take effect from June
Bitcoin rises past US$28,000, most other top 10 cryptos gain
Bitcoin traded above US$28,000 on Monday afternoon in Asia, a gain of 25% over last week, as a banking crisis in the U.S. and Europe prompted traders to see Bitcoin as a safe haven.
Singapore-based Crypto.com gets preparatory license to expand services in Dubai
Singapore-based cryptocurrency exchange Crypto.com will soon be able to extend its services in Dubai, after it received a Minimal Viable Product (MVP) Preparatory License from Dubai’s Virtual Assets Regulatory Authority (VARA).
Taiwan’s financial supervisory commission will oversee crypto, chair says
Crypto in Taiwan remains largely unregulated, but lawmakers have requested the cabinet to appoint a regulator by May 16 to oversee all things crypto.
Crypto data provider Kaiko to move Asia HQ to Hong Kong from Singapore: Bloomberg
Paris-based Kaiko will move its Asian headquarters to Hong Kong as it sees growing crypto-related opportunities in the city.
Bithumb executive faces investigation over alleged bribery in South Korean crypto listing
South Korean prosecutors are investigating Lee Sang-jun, the CEO of Bithumb’s holding company, for alleged bribery in listing certain tokens on the platform.
New York Community Bancorp unit to assume Signature Bank deposits, FDIC says
New York Community Bancorp will assume all deposits and certain loan portfolios of the failed Signature Bank, the FDIC said on Sunday.
Signum Digital says it won first approval to offer security tokens in Hong Kong
Signum Digital said it’s the first company to win preliminary approval in Hong Kong to operate a platform to trade security tokens.
Who should be held responsible for the Silvergate Bank and SVB crises?
As bank after bank topples, fingers are pointing everywhere. But crypto is not to be blamed for this unfolding crisis, writes Winston Hsiao of XREX.
Thailand Turns to Crypto
Thailand’s recent crypto tax waiver announcement could be a gamechanger in boosting Thailand’s economy.
India, UAE to collaborate on cross-border central bank digital currencies
The Indian central bank and the UAE will jointly run pilot programs on their central bank digital currencies, according to the Reserve Bank of India.
Bitcoin, Ether, Forkast 500 NFT index fall; euros rises amid Credit Suisse’s loan
Bitcoin and Ether declined by the end of Asian trading hours on Thursday afternoon, with all the top 10 non-stablecoin cryptocurrencies also falling, apart from Binance’s BNB.
US accuses exiled Chinese tycoon Guo Wengui of $1 billion crypto-linked fraud
Guo Wengui, an exiled Chinese billionaire, was arrested in New York on Wednesday for allegedly orchestrating a more than US$1 billion fraud conspiracy that included cryptocurrency, according to the U.S. Department of Justice (DOJ) and the Securities and Exchange Commission (SEC). See related article: U.S. banking regulators warn against cryptocurrency fraud, contagion risks Fast facts […]
Japan’s Web3 Era
Japan’s been a little behind in the Web3 space, but their new Metaverse Economic Zone could be a game changer.
Voyager-Binance.US’ $1 bln deal should be put on hold, says U.S. Department of Justice
A deal valued at over US$1 billion between Binance.US and Voyager should be put on hold while key legal objections are worked out, says U.S. government.
Bitcoin, Ether, Forkast 500 NFT index extend gains; U.S. banking crisis concerns ease as inflation slows to 6%
Bitcoin and Ether rose on Wednesday afternoon in Asia, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization. Solana and Polygon were the biggest gainers, both rising above 5% in the last 24 hours.
New York regulator says Signature Bank closure ‘nothing to do’ with cryptocurrencies: Reuters
The decision to shut down Signature Bank at the weekend was not related to cryptocurrencies, the New York regulator told Reuters on Tuesday.
India imposes money laundering regulations on crypto industry
India’s crime fighting agencies have been investigating crypto exchanges and individuals on money laundering charges and have now put the onus on exchanges to report suspicious transactions.
Bitcoin, Ether extend gains as U.S. regulators take charge of banking industry turmoil
Bitcoin and Ether rose the most in the top 10 non-stablecoin cryptocurrencies by market capitalization on Tuesday afternoon in Asia. Cryptocurrencies have been on a rebound since U.S. regulators took charge of the failures in the banking industry and moved to protect deposits across crypto-linked banks.
Crypto banking crisis?
As the U.S. tries to head off a bank run, crypto is quickly running out of places to bank with.
Bitcoin, Ether gain after U.S. regulators take charge to shield deposits across crypto-related banks
Bitcoin and Ether gained in Monday afternoon trade in Asia, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization, after U.S. regulators took charge of Silicon Valley Bank and Signature Bank, both with exposure to crypto industry, protecting deposits and confirming that no losses will be borne by the taxpayer.
Circle’s USDC stablecoin regains parity as regulators act to stop bank run risk
Circle said its $3.3 billion of USDC cash reserves at the collapsed Silicon Valley Bank will be available Monday after regulators stepped in to backstop deposits.
New York attorney general sues KuCoin for ‘falsely representing itself as an exchange’
The NY State Attorney General is suing crypto exchange Kucoin for not registering as a securities and commodities broker-dealer and calling itself an exchange.
Biden administration proposes 30% crypto mining tax, closing wash-trading loopholes
The U.S. has proposed an excise tax on cryptocurrency miners equal to 30 percent of the cost of the electricity they use.
Contagion, regulation worries grow after crypto bank’s demise
Bitcoin, Ether fall amid interest rate hike fears, Silvergate liquidation; Forkast NFT 500 index slips 0.79%
Bitcoin and Ether fell in evening trading in Asia Thursday, with XRP the sole gainer in 24 hours among the top 10 non-stablecoin cryptocurrencies by market cap.
South Korea pours US$51 million into metaverse projects
South Korea is investing 27.7 billion Korean won (US$21 million) into local services looking to utilize the metaverse, the ministry of science announced Wednesday, following Tuesday’s news that it would establish a US$30 million metaverse fund to help startups expand their businesses. See related article: Japanese tech, finance firms sign pact to build metaverse economic […]
How Singapore’s crypto ambitions are taking shape and what other nations can learn
Unique in the world, Singapore is a big investor and player in digital assets while advancing regulations that favor institutions over individual crypto users, writes Danny Chong of Tranchess.
Thailand to offer tax breaks to firms issuing investment tokens
The Thai Finance Ministry will waive corporate income tax and value-added tax for firms that conduct initial coin offerings (ICOs), according to a spokesperson.
Bitcoin, Ether fall amid U.S. Fed chair warning of more interest rate hikes; Forkast NFT 500 index slips 0.65%
Bitcoin and Ether fell in afternoon trading in Asia on Wednesday, with XRP the sole gainer among the top 10 non-stablecoin cryptocurrencies by market cap.
Fed’s Powell says stablecoins could have role in financial sector if properly regulated
Stablecoins could have a place in the U.S. financial services sector if appropriate regulation is put in place, Federal Reserve Chairman Jerome Powell said on Tuesday at a hearing before Congress.
Bitcoin, Ether inch up as investors await U.S. Fed chair’s comments; Forkast NFT 500 index dips 0.44%
Bitcoin and Ether gained in Tuesday afternoon trade in Asia, along with most other top 10 non-stablecoin cryptocurrencies. Polygon’s Matic token led gains followed by XRP and Dogecoin.
Hong Kong’s crypto scam losses in 2022 more than double from 2021: SCMP
Crypto scams accounted for over half of Hong Kong’s losses from computer-related crimes in 2022.
South Korea reports US$4.3 billion in illegal foreign transactions involving cryptocurrencies
The Korea Customs Service has identified US$4.3 billion worth of illegal foreign currency transactions last year involving cryptocurrencies.
Singapore police begin probe linked to Do Kwon’s Terraform Labs: Bloomberg
Singapore’s police have begun investigations linked to Terraform Labs that was co-founded by fugitive Do Kwon, according to a Bloomberg report.
Bitcoin ATM firm accused of profiting from crypto scams via unlicensed machines: U.S. Secret Service
A crypto tech firm and three of its executives have been indicted for allegedly operating unlicensed Bitcoin ATMs in the U.S. that profited from scams.
Bitcoin gains, all other top 10 cryptos in the red amid Silvergate fallout
Bitcoin gained in Monday afternoon trade in Asia while all other top 10 non-stablecoin cryptocurrencies by market capitalization posted losses.
Australia’s central bank identifies CBDC use cases as it prepares pilot launch
Australia has outlined potential use cases and providers for a central bank digital currency (CBDC), with a pilot program to be launched in the coming months.
Japanese banks to launch, test stablecoins on ‘Japan Open Chain’
Three major banks in Japan will issue stablecoins on an Ethereum-compatible blockchain created by the blockchain-related tools developer G.U. Technologies.
China’s digital yuan initiative gets cold reception from Hong Kong visitors
China is promoting digital yuan to Hong Kong visitors, but has not received much enthusiasm so far.
South Korea financial regulator to clamp down on voice phishing involving cryptocurrencies
South Korea will expand the existing law on voice phishing to include crypto related phone scams.
Singapore’s DDEx eyes security token offerings, mulls adding more cryptocurrencies
DBS bank’s digital exchange, which serves institutional clients, said macroeconomic conditions last year were not suitable for security token offerings (STO), but it will explore opportunities for such listings in 2023 and plans to add more crypto tokens.
Indonesia’s Crypto First
Indonesia’s crypto coming of age could help them become a blockchain superpower