The world of crypto opens up life-changing earning opportunities for Indian tweens and teens
Gajesh Naik and Laya Mathikshara, two Indian 13-year-olds, are getting global recognition — and making astronomical sums — through their ventures in crypto and NFTs.
So, no ban? India’s crypto bill will treat virtual currencies as commodities in the asset class
The veil of uncertainty that has shrouded crypto regulatory discussions seems to be lifting, but how the government will regulate and tax digital money remains to be seen.
Deadline looms for Korean exchanges; Doge meme tokenization explodes
Deadline looms for Korean exchanges as Doge meme valuation explodes
Exchanges in South Korea race toward last chance of survival
Crypto trading platforms rush to meet a Sept. 24 deadline, hoping to comply with new rules designed to protect investors.
Japan’s SBI Holdings announces plans to launch crypto fund by November
In another positive move for Japan’s crypto industry, financial services group SBI Holdings Inc. plans to launch a crypto fund in the country before the end of November, according to a report by Bloomberg. Fast facts Citing Tomoya Asakura, president of SBI affiliate Morningstar Japan K.K., Bloomberg reported the fund could grow to several hundred […]
Poolin partners with crypto trading firm Quant Satoshi to expand US business
Poolin, a major cryptocurrency mining pool with significant operations in China, on Thursday announced a partnership with Quant Satoshi to further expand its mining operation in the U.S. Fast facts Poolin has partnered with Quant Satoshi, an American quantitative trading firm that focuses on crypto high frequency trading, to expand Poolin’s U.S. presence, the company […]
India crypto exchanges allow bank deposits; FTT token on a roll
India crypto exchanges allow bank deposits while FTT token on a roll
Eastern Europe is emerging as a hub for crypto scams: report
Eastern Europe is fast emerging as a crypto scamming hub. According to a Chainalysis report, crypto addresses based in Eastern Europe have the second-highest rate of links to illicit addresses, and the region ranks second in terms of the value of cryptocurrencies sent to illicit addresses. Fast facts Eastern Europe has a large cryptocurrency market […]
Securities exchange ADDX inks $200M deal to bring digital assets to Chinese investors
Singapore-based digital securities exchange ADDX today announced it had reached a US$200 million agreement that will give accredited investors in China access to digital securities covering various asset types, the company said. Fast facts According to a company statement, ADDX has reached an agreement with ICHAM, a Singapore-regulated wealth and fund management company, to be […]
New Korean DeFi service launches to increase scalability of ‘Kimchi coins’
Donkey, launched Sept. 1, aims to become a DeFi service that brings more South Korean investors into decentralized finance by making their favorite cryptos more scalable and available. Fast facts Donkey is a virtual asset deposit and lending protocol that runs on the Ethereum blockchain where anyone can deposit crypto as collateral and borrow other […]
BSN to launch South Korea portal; Canaan secures huge rig order
China’s BSN to launch in South Korea portal as Chinese Canaan secures huge mining rig orders
Blockchain game MIR4 gains global popularity despite ban at home in South Korea
The multiplayer online role-playing game is widely popular elsewhere, while Korea bans play-to-earn crypto and NFT trading.
Genesis Digital Assets signs deal for 20K mining machines to fuel growth in North America, Nordic region
The order follows a June purchase by Genesis of 10K machines from China-based Canaan, one of the world’s biggest Bitcoin mining rig makers
Australian consumer protection body issues warning to crypto investors
The Securities and Investments Commission warned against investing in digital-asset financial products. Some say the warning lacks specifics.
Bollywood megastar Amitabh Bachchan is launching his own NFT collection
Prominent Indian actor Amitabh Bachchan will release his own non-fungible token collection later this year. Fast facts The NFTs will be rolled out on BeyondLife.club, a joint venture between Indian film production company Rhiti Entertainment and Guardian Link, a decentralized legitimacy protocol for NFT exchanges. BeyondLife.club allows users to buy NFTs with credit cards or […]
El Salvador creates $150M fund to assist with BTC adoption
A week out from El Salvador’s adoption of BTC as legal tender, the country’s legislative assembly has approved a US$150 million trust to help facilitate exchange between BTC and the U.S. dollar – the nation’s current official currency, according to a report by local newspaper El Diario de Hoy. Fast facts Last week, Forkast.News reported […]
Securities Association of China meets with brokerages to promote blockchain uses
The Securities Association of China (SAC), a self-regulatory organization for the securities industry, recently held a symposium with Chinese brokerages to promote blockchain applications in China’s securities industry. The deputy director of the association’s Tech Bureau, Dongxing Jiang, said the association will implement its blockchain infrastructure plan, known as the “Securities Industry Alliance Chain,” and […]
Singapore grants FOMO Pay the city-state’s first crypto license
FOMO Pay, a Singapore-based fintech company, announced today that it has obtained a license from the Monetary Authority of Singapore (MAS) to provide Digital Payment Token Service — the first such approval out of 170 applicants for the city-state that is rapidly becoming a global crypto hub. Fast facts FOMO Pay said it had been […]
China’s state-backed blockchain network to expand to South Korea
As its first international expansion, China’s Blockchain-based Service Network is launching a portal in Korea. Who are the key players, and where else in the world will BSN emerge this year?
Some NFT creators and investors have a lucky number
A fascination with 8s could be related to the fact that the Chinese pronunciation of the number 8 or “Ba” is similar to that of “發” or “Fa,” which stands for wealth and prosperity.
Philippines may classify Axie Infinity as a company running a payment system
The hot play-to-earn token game Axie Infinity is under increased scrutiny from Philippines tax authorities. The country’s central bank said it is closely monitoring how players use game tokens to decide whether to classify and regulate Axie’s parent company as an entity that runs payment systems. Fast facts The central bank, Bangko Sentral ng Pilipinas, […]
South Korea’s crypto exchanges join forces for FATF travel rule compliance
Three of South Korea’s four major exchanges have launched a joint venture to develop solutions for complying with the Financial Action Task Force’s (FATF) crypto travel rule. The travel rule sets a global standard for virtual asset service providers to combat money laundering and terrorist financing and requires exchanges to collect information on senders and […]
Crypto exchange Zipmex raises $41M in Series B round for aggressive Asia expansion
Zipmex, a Singapore-based cryptocurrency exchange, has completed a US$41 million Series B funding round as it innovates toward a “full 360 digital banking offering,” the company said during a media briefing today. Fast facts Investors in Zipmex’s Series B funding round indicate increasing institutional buy-in to the digital assets industry. The investors include Krungsri Finnovate, […]
Why Facebook’s Novi wallet could strike gold in SE Asia
Facebook’s Novi is ready to launch. Here’s why the Diem crypto wallet might find an especially warm welcome in places like the Philippines and Malaysia.
Chinese gaming company The9 expands into NFT business
The9 Ltd., a Chinese gaming company that pivoted earlier this year to cryptocurrency mining, unveils plans to get into non-fungible token business, reflecting the company’s ambition to ramp up its blockchain-based operation. Fast facts Nasdaq-listed The9 has announced that its Singapore-based subsidiary NFTSTAR Singapore Pte. Ltd. will launch a NFT trading and community platform NFTSTAR […]
Hong Kong regulator warns investors against digital tokens and ICOs
Hong Kong’s Securities and Futures Commission on Monday warned that digital tokens and initial coin offerings (ICOs) could be involved in unauthorized collective investment schemes (CIS) and urged investors to exercise extreme caution. Fast facts The SFC’s warning comes as the regulator added two property-related CIS investment projects and the “LABS Security Token” to its […]
Korea’s love for crypto continues; Crypto exchange Bilaxy hacked
Korea’s love for crypto continues while Crypto exchange Bilaxy hacked
More teens in South Korea buy crypto despite strict pending regulations
New data shows increasing deposits made by teens in virtual currency despite new rules that may close down many platforms in less than a month.
Three state-owned banks in China release e-CNY usage data
Tens of billions in digital yuan circulate through the banks’ systems, as leaders encourage wider adoption.
Korea’s new FSC chair speaks; Axie Infinity to work with governments
Korea’s new FSC chair speaks meanwhile Axie Infinity to work with governments
Crypto mining rig giant Bitmain confirms TSMC chip price jump
China-based Bitmain, one of the world’s biggest producers of cryptocurrency mining rigs, confirmed in a social media post a 20% price hike in the chips it buys from Taiwan Semiconductor Manufacturing Company (TSMC). Fast facts Bitmain said on Thursday in a WeChat post that TSMC had informed all clients, including the mining rig maker, that […]
Former India central bank chief says cryptocurrencies have a ‘potential future’
While India’s parliament considers a potential nationwide ban on all private virtual currencies, a former governor of India’s central bank says some cryptocurrencies have a “potential future” in the global economy. Raghuram Rajan, ex-governor of India’s central bank and former chief economist at the International Monetary Fund, made his comments at a Reuters Global Markets […]
AAX to launch its own NFT marketplace, following other crypto exchanges
Amid the immense growth in the non-fungible token market, leading Singapore-based crypto exchange AAX is planning to launch its own NFT marketplace in the “near future,” according to a press release shared with Forkast.News. Fast facts In preparation for the launch, AAX is running a campaign in which its users can auction NFTs for charity […]
How blockchain is transforming shipping and redefining global trade
Rising from the rubble of a Covid economy, shipping companies are now using blockchain technology to rebuild profitability and reduce inefficiencies.
Korea reveals crypto exchange ‘Death Note’: DeFi investment booms
Korea reveals crypto exchange ‘Death Note’: DeFi investment booms
South Korea unveils “death note” for crypto exchanges
24 out of 63 digital currency exchanges in South Korea are not expected to meet new compliance requirements and will most likely be shut down in less than a month.
BIS, HKMA partner on Project Genesis to tokenize green bonds
The Bank for International Settlements (BIS) Innovation Hub Hong Kong Centre and the Hong Kong Monetary Authority (HKMA) are collaborating on Project Genesis — a green finance project for the tokenization of green bonds using blockchain technology, according to a BIS statement. Fast facts Project Genesis — the BIS Innovation Hub’s first green finance project […]
UK’s Financial Conduct Authority: Binance has complied with requirements
Binance Markets Limited, the British affiliate of the world’s largest cryptocurrency exchange, is now compliant with the requirements that the U.K.’s Financial Conduct Authority imposed on the company in June, the FCA said Wednesday. Fast facts The FCA had, back in June, issued a warning to Binance Markets Limited and the Binance Group and imposed […]
Bitcoin bulls brace. CryptoPunks’ pulling power. China’s crypto lawfare.
Top blockchain and crypto news: Is another Bitcoin bull run coming soon? Punks rocking NFTs. Why crypto contracts may not be enforceable in China.
Thai SEC proposes new rules for digital asset custodians
Thailand’s Securities and Exchange Commission (SEC) on Wednesday launched a public consultation on its proposed amendments to regulations for the custody of crypto holdings in digital asset businesses. Fast facts The additional regulations — which the SEC said are intended to enhance investor protection — include requiring digital asset businesses to comply with “the principles […]
Hong Kong’s Resources Capital Football Club kicks off NFT goals
The team joins a growing number of football clubs around the world launching non-fungible tokens (NFTs) as they look to engage fans and generate new revenue streams.
Guangzhou court uses blockchain for online cross-examination
In a legal first for the region, the Guangzhou Intermediate People’s Court used a new blockchain system in a lending dispute case so the parties can submit evidence and do cross-examination online. Fast facts The “blockchain electronic cross-examination system” allows each side to upload its evidence online. The opposing party, under the judge’s supervision, can cross-examine the […]
Crypto bank in South Korea says it aims to comply with strict but unclear new law
Sandbank, a South Korean bank for virtual assets, says it is in the process of acquiring the necessary certification needed to legally operate in the country. However, the financial authorities have yet to decide whether their requirements apply to crypto banks. Fast facts In an announcement, Sandbank told its customers it has put acquiring the […]
Dogecoin is going to the dogs, including real-world canines
Just as Dogecoin prices are once again going to the dogs, a Chicago animal shelter is asking for DOGE donations to help real-life dogs in the dumps. Fast facts PAWS Chicago has launched a “Dogenation” campaign, which allows animal lovers to donate to the charity in cryptocurrencies — not just Dogecoin — via QR codes […]
Court in China says trading in cryptocurrency ‘not protected by law’
The ruling by Shandong’s High Court backs up China’s official stance against trading in cryptocurrencies. What does this mean for investors?
Futures exchange pays e-CNY for warehousing fees
Dalian Commodity Exchange paid storage fees to a delivery warehouse in the form of e-CNY, the first time applying central bank digital currency (CBDC) in futures trading. Fast facts According to the report, Dalian Liangyun Group, which received the e-CNY warehousing fees, said that e-CNY transfer has no inter-bank transfer fees, and it would not […]
Iran expected to lift Bitcoin mining ban next month
Iran, which imposed a temporary ban on Bitcoin mining a few months ago, is expected to lift the prohibition next month, according to local media reports. Fast facts The Iran Power Generation, Distribution and Transmission Company told the state-run ISNA that the ban will be lifted on Sept. 22, local English media Financial Tribune reported. […]
Philippines wants to tax Axie Infinity and players’ earnings
With play-to-earn crypto games like Axie Infinity continuing to attract users, tax authorities in the Philippines are looking into taxing such blockchain-based game companies as well as the income earned by users on such platforms, according to a report by the Manila Bulletin. Fast facts Philippines’ finance undersecretary Antonette C. Tionko said earnings from these […]
El Salvador rolls out 200 Bitcoin ATMs ahead of nationwide adoption
In preparation for El Salvador adopting Bitcoin as legal tender, the nation is rolling out 200 ATMs and preparing 50 bank branches across the nation to allow residents to exchange crypto for fiat easily, President Nayib Bukele has announced over the weekend via Twitter. Fast facts With El Salvador’s Bitcoin adoption bill coming into effect […]
Shaanxi Expressway accepts digital yuan as tolls
Shaanxi Province has built the province’s first toll lane that supports digital yuan payments; the first payment was successfully made on August 16. Fast facts Shaanxi Province says it will continue to install digital renminbi payment equipment at all expressway toll stations in the province. Shaanxi Province is located in the western inland region of China, and […]
Digital yuan trials now looking like a ‘soft launch’ stage
China’s high penetration of smartphones, digital-savvy population helps reduce e-CNY testing time, observers say
The9 sets up another joint venture to mine crypto in Kazakhstan
The9 Ltd., a Chinese gaming company that only a few months ago pivoted its business to crypto mining, is setting up another joint venture in Kazakhstan as it ramps up its mining operations in the Central Asian nation that shares a border with China. Fast facts Nasdaq-listed The9 has signed an investment memorandum through a subsidiary […]
Bit Digital reports growing losses as it moves crypto miners from China to North America
Bit Digital, a New York-headquartered Bitcoin mining company that has had significant operations in China, recorded growing losses in the second quarter of this year as it continued relocating its China-based machines to North America. Fast facts In the second quarter of this year, Nasdaq-listed Bit Digital booked a net loss of US$1.34 million, compared […]
Taiwanese startup XREX raises $17 million to advance crypto payment services
XREX’s fundraise reflects Taiwan’s ambition to be part of fintech and blockchain innovation in spite of the island’s strict banking regulations.
Binance taps former SGX chief regulatory officer as Singapore CEO
Binance Singapore today announced the appointment of Richard Teng, former chief regulatory officer of the Singapore Exchange (SGX), as chief executive, bolstering its leadership ranks with former regulators while battling growing regulatory woes around the world. Fast facts Teng was CEO of the Abu Dhabi Global Market for six years before stepping down in March. […]
As China cracks down on crypto, blockchain technology keeps flowering
Steelmaker Ansteel Group and lithium battery producer Tianneng are the latest companies to make use of blockchain in accordance with China’s national strategy.
Aussie tech entrepreneur offers Bitcoin to those vaccinated against Covid
Finder.com CEO Fred Schebesta is offering AU$5 (US$2.85) worth of Bitcoin to every Australian who is fully vaccinated against Covid-19. Fast facts Announcing the plan on Sydney radio this week, the self-made millionaire said he was looking for a way to contribute to the vaccination effort and thought this could be a way to help. […]
Coinbase partners with Mitsubishi UFG for entry to Japan
The largest cryptocurrency exchange in the U.S. has partnered with one of Japan’s largest banks to gain market entry. What does the move say about the Japanese market as the industry is rocked by yet another crypto exchange hack?
Thai-listed Brooker Group reports $24 million in crypto holdings in 1H 2021
The Brooker Group, a publicly listed financial consultancy and capital management company in Bangkok, this week reported that it held US$23.86 million of digital assets, according to its financial results for the first six months of 2021. Fast facts The Brooker Group also reported an impairment loss of US$12 million in the first half of […]
Justin Sun’s Weibo account blocked again
TRON founder Justin Sun’s social media account on Weibo, China’s Twitter-like microblog platform, appears to have been blocked again, along with the accounts of several other cryptocurrency-related interests. Fast facts TRON is a blockchain with a cryptocurrency native to the system founded by Sun in 2017. Sun, 31, has been active on social media, and […]
China shuts down website and social media of high-profile blockchain center
China continues its crackdown on certain illegal social organizations, as authorities shut down the website and social media accounts of the China Blockchain Application Center — a organization once led by some of the nation’s most prominent crypto industry leaders, state media China National Radio reported yesterday. Fast facts The China Blockchain Application Center was […]
Thailand publishes CBDC study results, pilot test to start in 2022
The Bank of Thailand today published the results of its retail central bank digital currency (CBDC) study and public survey, which the central bank says will guide the development of the country’s CBDC pilot test. Fast facts The Bank of Thailand underscored that a CBDC for the general public “must not adversely affect monetary policy […]
Shanghai court rules Bitcoin is virtual property, not currency
A district court in Shanghai has ruled that Bitcoin is virtual property, not a currency that is allowed to circulate, according to a statement released earlier this week. Fast facts A Minhang district court in Shanghai stated this week that it heard a case in which a plaintiff purchased Bitcoin mining machines from a defendant […]
Netherlands warns Binance is illegally offering crypto services
The central bank of the Netherlands has issued a warning that Binance — the largest cryptocurrency exchange in the world by trading volume — is illegally operating in the country. Fast facts Binance is providing crypto services in the Netherlands without the required legal registration with De Nederlandsche Bank (DNB), according to the regulator. “This […]
El Salvador’s finance minister says Bitcoin is ‘totally optional’
In what will likely be a relief for many Salvadorans, El Salvador’s finance minister said the use of BTC will remain “totally optional” and businesses will not be sanctioned for not using it when the country’s controversial BTC law comes into effect on Sept. 7, reports Yahoo News. Fast facts The country’s adoption of BTC […]
BIT Mining revenue soars despite losses from operational pivot
Operating costs and crypto bear market suck up cash after former lottery operator bets on digital assets
Led by Vietnam and India, global crypto adoption jumps over 880%
Asia is now tops in the world in cryptocurrency adoption. Vietnam, India and Pakistan are now the top three countries in the world in crypto use — and other Asian countries aren’t far behind, according to Chainalysis’ 2021 Global Crypto Adoption Index published today. Fast facts Thailand, China and the Philippines also ranked in the […]
IBM, Nomura to use blockchain for plastics recycling in new consortium
IBM Japan, Mitsui Chemicals and Nomura Research Institute have announced a new consortium to explore how blockchain technology can be used to create better plastic recycling methods, according to a press release from the NRI. Fast facts Making new plastics from recycled plastics is an exact process that requires knowing the specific chemical makeup of […]
Union Bank of Philippines partners with Hex Trust to enter digital asset ecosystem
Union Bank of the Philippines and Hex Trust, a Hong Kong-based digital asset custodian, today announced that the bank was partnering with Hex Trust to provide digital asset custody services to it as it enters the digital asset sector. Fast facts As part of the collaboration, Hex Trust will provide digital asset custody as an […]
India’s crypto sector on edge as bill that may lead to ban awaits cabinet approval
If cabinet approves crypto bill by November, it could be introduced as early as parliament’s winter session.
Fitch warns El Salvador’s Bitcoin adoption will drag down credit rating
In another criticism of El Salvador’s planned Bitcoin adoption, global credit scoring agency Fitch Ratings has warned the move will likely adversely affect credit ratings of the country’s insurance sector, due to heightened foreign exchange and earnings volatility risk. Fast facts Fitch Ratings explained in a press release on Monday that once a law comes […]
Kakao to spearhead global expansion of Klaytn blockchain from Singapore
South Korean internet giant Kakao this week announced that its newly established non-profit entity headquartered in Singapore — the Klaytn Foundation — will lead the development and global expansion of the Klaytn blockchain, according to a company release. Fast facts The Klaytn Foundation, together with Krust, Kakao’s newly established global accelerator unit, and GroundX, which […]