Stablecoins could pose risks to global financial system, Chinese central bank official says
Warning comes as Beijing ramps up efforts to internationalize China’s currency through launch of digital yuan.
Blockchain-based digital invoicing rollout continues apace in China
China’s blockchain-based digital invoicing systems are being increasingly put into large-scale use in major cities and provinces. Fast facts Blockchain-based digital invoicing is being used in multiple sectors in Hainan Province, China’s only free-trade port. Digital invoicing systems are in use in 2,795 organizations, including courts, schools and banks, according to Securities Daily, a Chinese […]
Chinese firm shut down by central bank for trading cryptocurrencies
China’s central bank has reiterated its ban on cryptocurrency trading and yesterday said it had ordered a company in Beijing suspected of offering software services for crypto trading to shut down as part of an ongoing nationwide crackdown on the crypto industry. Fast facts A Beijing office of the People’s Bank of China and a […]
Software firm Meitu loses US$17.3M on Bitcoin
Higher value of Ether investments softens blow to value of Bitcoin holdings.
South Korean crypto exchanges tighten personal trading rules for employees
Three of the biggest cryptocurrency exchanges in South Korea have tightened restrictions on virtual currency trading by their employees in a move designed to comply with the nation’s crypto regulations. Fast facts Bithumb announced that starting this month, it had banned its employees from trading cryptocurrencies using Bithumb accounts. The exchange has made employees sign […]
Chinese cities roll out digital yuan to public transport networks
Adoption of e-CNY for urban transport networks marks first step in wider introduction of state-backed digital money.
Taiwan to introduce new AML rules for crypto exchanges on July 1
Taiwan is set to enact new anti-money laundering rules that take effect July 1 to further boost AML requirements for crypto exchanges.
South Korean crypto exchange Bithumb dismisses ‘listing fee’ claims
Bithumb — South Korea’s second-largest crypto exchange — has rubbished claims that it is charging token issuers fees to list their coins on its platform.
Hong Kong’s Cyberport invests in digital asset custodian Hex Trust
Hex Trust, a Hong Kong-based digital asset custodian, today announced that it has secured investment from Cyberport, a technology incubator project backed by the Hong Kong government.
Special Series, Part 3: Digital dragons and digital dollars
In the last installment of a 3-part series on blockchain in Asia, Forkast.News examines: Everyone knows money has value. But does it also have ‘values’?
What kind of new regulation can help Australia become a global crypto hub?
Through tomorrow, a Senate committee is taking public comments on how best to make Australia into a global crypto leader and fintech hub.
Gold loses shine for India’s crypto-curious young investors
Crypto investment in India has grown from about US$200 million to nearly US$40 billion in the past year, driven in large measure by demand among young investors.
Singapore crypto exchange Coinhako sees trade soar 500%, eyes IPO
Singapore cryptocurrency exchange Coinhako today announced a 500% increase in trading volume during the first five months of 2021 compared to the whole of 2020.
Executives at crypto exchange V Global arrested in US$1.9B fraud case
Four executive employees of South Korean crypto exchange V Global have been arrested on charges of alleged fraud involving more than US$1.9 billion.
China’s Agricultural Bank launches fintech center in ‘smart city’ of Xiong’an
Agricultural Bank of China has set up a fintech innovation center in Xiong’an, a model for a so-called smart city.
Why big investors are pouring money into blockchain data analytics for crypto
Nansen, a Singapore startup, is the latest darling of venture capitalists like Andreessen Horowitz (a16z) bullish on the growing field of crypto analytics.
Samsung Asset Management launches metaverse fund
Samsung Asset Management, South Korea’s biggest asset manager, has launched a fund tied to a virtual world known as the metaverse.
Bitcoin hashrate falls to lowest in 22 months amid China mining clampdown
Bitcoin’s hashrate fell to 58.7971 exa hashes per second on Sunday — the lowest point since August 2019.
Singapore central bank joins IMF, World Bank to push state digital currencies
The Monetary Authority of Singapore is inviting proposals for retail central bank digital currency innovations to improve payment services.
Special Series, Part 2: China lays digital groundwork for a new Silk Road
How China’s deployment of the digital yuan intertwines economics with geopolitics and concrete with virtual infrastructure, from Cambodia to the Caribbean.
South Korean crypto exchange fee revelations deal blow to sector’s credibility
Payment for listings raises questions over integrity of cryptocurrencies’ credit scores as compliance deadline nears.
Kazakhstan’s Bitcoin gold rush gathers pace as Chinese miners keep piling in
As China shuts down crypto mining over environmental concerns, miners are moving next door to Kazakhstan, one of the most coal-rich countries in the world.
Hong Kong to press ahead with digital dollar, e-CNY plans
Hong Kong’s financial secretary has reiterated the city’s determination to develop digital versions of the Hong Kong dollar and the mainland Chinese yuan.
Lawmaker clarifies Paraguay won’t try to make Bitcoin legal tender
Lawmaker Carlos Rejala tamped down speculation that Paraguay might follow El Savador’s footsteps in making Bitcoin legal tender.
Special series, Part 1: China bets on the blockchain
Long before most governments, the Asian superpower saw the potential in Bitcoin’s technology to spawn the next internet and a new form of money.
China sets out stall with digital yuan. Here comes the sales pitch
Urged on by the authorities, banks have wasted little time in putting e-CNY infrastructure in place, but now comes the hard part — getting people to use it.
Australian blockchain project targets construction sector traceability
Accountancy giant KPMG is partnering with Australian property group Mirvac to create a blockchain platform to track the provenance of buildings.
Mining rig maker Bitmain halts sales amid flood of second-hand machines
Chinese crypto mining rig maker Bitmain has decided to suspend global spot sales of its Antminer machines, as some of its clients are reselling their rigs.
Following forced closure, Hong Kong’s Apple Daily preserved on blockchain
A tech-savvy activist is using blockchain technology to preserve content from Hong Kong’s Apple Daily, which was yesterday forced by the government to shut down.
China’s Ant Group launches blockchain-boosting transmission network
Ant Chain, Ant Group’s technology brand, has launched a new blockchain communication technology at Ant Chain’s first developer conference.
South Korea points to crypto regulation efforts after calls for watchdog to quit
South Korea’s presidential office has reacted defensively to a petition calling for the chief of the country’s main finance sector regulator to step down over comments he made about cryptocurrencies.
Australian auction house begins accepting crypto for all items
Auction house Lloyds Auctions Australia has begun accepting cryptocurrency for all purchases on its marketplace.
Chinese crypto mining rig maker Bitmain suspends sales as prices drop
Chinese mining rig maker Bitmain has stopped selling in-stock cryptocurrency mining equipment amid a plunge in the prices following a shutdown of major mining pools in China.
South Korean crypto exchange Upbit in dock in trading tech case
South Korean crypto exchange Upbit — the country’s biggest — is facing a lawsuit filed by a university foundation alleging patent infringement.
Indian crypto investors could be stung by 2% foreign operator levy
Indian cryptocurrency investors could face a 2% levy on transactions made through foreign-owned crypto exchanges operating in the country.
Chinese payment giant Alipay starts selling NFTs
Chinese payment app Alipay has started selling non-fungible token artwork, finding buyers for a combined 8,000 editions of two artworks within one day.
U.S. Treasury nominees pledge beefed-up crypto AML enforcement
Two nominees to the U.S. Treasury Department have promised, if they are confirmed in their posts, to implement new regulations relating to cryptocurrency.
New crypto mining hot spots emerge; Korea crypto controversy escalates | The Daily Forkast
The next generation of mining hot spots are shaping out in the aftermath of China’s mining exodus as Upbit’s delisting generates new enemies.
Chinese crypto miners head west as Beijing’s crackdown gains pace
Kazakhstan offers nearby bolthole as North America and Europe beckon.
South Korean crypto exchange Upbit to sue Pica Project after delisting coin
South Korean cryptocurrency exchange Upbit is preparing legal action against crypto coin issuer Pica Project, whose tokens it has delisted from its platform.
Chinese central bank orders lenders to cut cryptos’ financial lifelines
The People’s Bank of China has told the country’s big banks and other finance sector heavyweights to cut off financing sources for cryptocurrency transactions.
Over 3,000 ATMs in Beijing now support digital yuan withdrawals
Two of China’s largest state-owned banks, the Industrial and Commercial Bank of China (ICBC) and the Agricultural Bank of China (ABC), are now offering two-way exchange between fiat cash yuan and e-CNY digital currency through more than 3,000 ATMs in Beijing, according to reports in local media. Over 3,000 ATMs in Beijing managed by ICBC […]
S. Korean banks start crypto exchange reviews as contract renewals loom
South Korean lenders have started money laundering risk assessments of the country’s “big four” cryptocurrency exchanges, with which they have contracts to provide real-name accounts.
Bitcoin hashrate plunges as Chinese crypto mining crackdown hits Sichuan
The Bitcoin hashrate plunged over the weekend following a clampdown on cryptocurrency mining by the southwestern Chinese province of Sichuan.
Paraguay may adopt Bitcoin as lawmaker seeks to follow El Salvador
Following El Salvador’s move to become the first country in the world to recognize Bitcoin as legal tender, a Paraguayan congressman has announced plans to do the same in the South American nation next month.
Survey: Crypto investing gender gap is narrowing in Australia
The number of Australian women investing in cryptocurrency has grown this year from 7% in January to 11% in June.
WazirX CEO: India’s crypto industry trying to keep ‘clean’ for regulators
Crypto literacy of Indian regulators is evolving and crypto players are trying to keep industry clean via self-regulations, says Nischal Shetty of WazirX.
As Shanghai gives away digital yuan, we hit the streets with a man spending it
Money may be easy to part with when it’s free, but as Shanghai’s first experimental e-CNY giveaway shows, it’s not so easy finding shops to take it.
Crypto clampdown hits Sichuan; Dtravel launches Airbnb rival | The Daily Forkast
China’s crypto clampdown reaches Sichuan. A sneak preview into how China’s digital yuan works.
Chinese crypto mining ban coming to Sichuan — reports
Miners face imminent shutdown as power companies told to cut electricity, according to multiple reports.
U.S. securities watchdog’s regulatory agenda turns blind eye to crypto
Dashing hopes of greater regulatory clarity for the cryptocurrency industry, the U.S. Securities and Exchange Commission’s recently released annual regulatory agenda does not mention Bitcoin or cryptocurrency regulations.
‘China’s Robinhood’ halts CME crypto futures services amid sector clampdown
Chinese stock trading app Futu Niuniu has suspended Chicago Mercantile Exchange cryptocurrency futures services and stopped supplying crypto market information.
New Singapore telco to offer contract-free, blockchain-backed services
Gorilla Mobile, Singapore’s newest mobile virtual network operator, is set to roll out blockchain technology to offer contract-free services.
Angry Aussie crypto investors eye Binance class action
Australian investors adversely impacted by repeated system failures on Binance are considering taking a class action lawsuit to recoup their losses.
U.S. Republican Party to accept donations in cryptocurrency
The National Republican Congressional Committee in the US will begin accepting donations in cryptocurrency.
South Korean crypto exchanges face ban on listing own tokens
South Korea’s Financial Services Commission today revealed plans to ban cryptocurrency exchanges in the country from listing their own coins.
How Singapore and Cambodia see digital currencies for cross-border use
In a recent conference, central bankers from Cambodia and Singapore discuss how digital currencies are transforming existing payment systems for the better.
Singapore’s PSB Academy launches Ethereum-hosted blockchain diploma
PSB Academy, a private education institution in Singapore, ACCESS, a crypto non-profit, and learning platform Skilltree today announced the launch of a blockchain diploma program.
El Salvador feels confused over salary payments in Bitcoin
The El Salvadorean Department of Labor and Social Welfare has had to clarify it is not within its purview to determine whether salaries can be paid in Bitcoin.
Survival race of SK exchanges; Ethereum powers digital passports in HK | The Daily Forkast
50 crypto exchanges apply for ISMS in South Korea while Hong Kong sees the birth of a blockchain passport for Covid vaccinations.
Blockchain-powered air quality sensor test launches in Hong Kong
France-based PlanetWatch, which records air quality data on Algorand’s blockchain, has launched its first test sensor in Hong Kong.
China’s public Chang’An Chain gets upgrade to accelerate processing
Chinese homegrown public blockchain platform Chang’An Chain has been equipped with 96-core blockchain-specific chips, and 23 companies joined its ecosystem yesterday.
India reviews cryptocurrency ‘ban’ legislation
The Indian government and leading industry stakeholders are reviewing elements of legislation that proposed a ban on cryptocurrencies.
South Korean crypto exchanges race to comply with strict new rules
Fifty South Korean crypto exchanges have applied for certification under the country’s Information Security Management System — the first step in meeting stringent new crypto exchange regulations.
R3 and ASEAN network partner on CBDC sandbox for banks and fintechs
The ASEAN Financial Innovation Network (AFIN) is partnering with enterprise software firm R3 on a central bank digital currency (CBDC) sandbox.
Yunnan mining ban clarified; Korean exchanges start ‘coin thinning’ | The Daily Forkast
Chinese authorities provide more details on its notice issued to the local mining industry while South Korean exchange start ‘coin thinning’.
Chinese province of Yunnan puts crypto mining under the microscope
Following rumors of a possible ban on cryptocurrency mining in the province last week, its energy regulator has clarified an approach to the industry that looks set to rein in rogue operators.
ConsenSys, Hong Kong university launch Ethereum-powered Covid passport
The Chinese University of Hong Kong and Ethereum software company ConsenSys today announced the launch of a Covid-19 digital health passport.
Thailand tightens rules for crypto exchanges and bans meme, fan, NFT tokens
Thailand’s securities regulator has announced new rules for cryptocurrency exchanges in the country, including a ban on utility tokens and meme tokens.
African P2P Bitcoin trading roars ahead of other regions
Africa has emerged as the region with the highest growth in P2P Bitcoin trading volume over the past six months.
Ant, Ping An, Tencent Cloud win top slots in Chinese blockchain ranking
Ant Group, Ping An Group and Tencent Cloud ranked as the top three among 50 leading Chinese industrial blockchain enterprises in 2020.
El Salvador’s BTC remittances in May quadruple from last year
Bitcoin transactions in El Salvador during May increased by more than four times compared to a year ago, yet fiat remittances still represent the vast majority of transactions in the country.