Region

Kyrgyzstan is cracking down on cryptocurrency mining farms that are using power illegally, local media outlet 24.kg reported Saturday, citing a release from the State Committee for National Security of Kyrgyzstan. Fast facts Authorities have spotted over 500 crypto mining farms that were illegally connected to power grids, leading to power shortages, as one set of […]

Four Chinese cities announced they will compete for inclusion in the next batch of digital renminbi pilot projects. They are Guangzhou, Tianjin, Yiwu and Fuzhou. Fast facts Guangzhou and Tianjin have written their goals into their city’s “14th Five-Year Financial Industry Reform Plan,” and Yiwu’s plan has been reported to the State Council. Guangzhou is […]

Black Friday for Korean exchanges while E-CNY launch in final stretch

All but four platforms in South Korea obligated to announce the suspension of their services by today.

Most banks distance themselves from virtual asset platforms as the country’s central bank lobbies for a ban.

China’s Inner Mongolia region — once a thriving cryptocurrency mining hub that has enacted a series of measures to rein in the sector — is tightening its crackdown by hiring a contractor to monitor and ferret out mining operations. Fast facts The Inner Mongolia Development and Reform Commission announced on Wednesday a bidding result for […]

Digital yuan expected to undergo its first crucial international test despite concerns it can be used as a surveillance tool.

It’s hot on Bitcoin Beach and the Twitterverse, but the new legal tender doesn’t have uptake elsewhere in the Central American country.

Babel Finance, a Hong Kong-based crypto lender and asset manager, today announced it is opening a business headquarters in Singapore named Babel Asia, as the company looks to serve more clients globally. Fast facts Babel Asia plans to serve as a base for future merger and acquisition activities, together with Babel Finance to drive mainstream […]

Canaan reports record revenues meanwhile Korea says no to crypto tax delay

Blockchain Association Singapore (BAS) and Singapore’s National Trades Union Congress (NTUC) U Care Fund today announced their inaugural non-fungible token (NFT) charity auction event, Blockchain For Good, which will take place Oct. 4 to 10. Fast facts The charity initiative — supported by a wide range of companies including Singapore Airlines, Amazon Web Services Inc., […]

South Korea’s finance minister Hong Nam-ki gave a firm “no” at the National Assembly to lawmakers asking for crypto taxation to be delayed until the industry is fully prepared. Fast facts Minister Hong insisted the plan to tax capital gains from cryptocurrency transactions should be executed as planned. The amended tax law stipulates that crypto […]

African countries collectively received US$105.6 billion worth of cryptocurrency between July 2020 and June 2021, a year-on-year increase by more than 12 times, blockchain data platform Chainalysis said in a report. Fast facts The adoption rate of cryptocurrency in Africa at the grassroots level is the highest in the world. And retail transactions in Africa […]

Blockchain-based Service Network (BSN) soft launch is the first attempt to roll out the state-backed ‘internet for blockchain’ outside of the Chinese mainland.

Solana validators complete restart also Laos ends crypto ban

Top blockchain and crypto news: Walmart dispels Litecoin hoax. Cardano’s real work begins. Beijing bears down on NFTs.

Despite widespread criticism of non-fungible tokens (NFTs) that has emerged in Chinese state-owned media, the 2022 Asian Games has announced the sale of its first NFT collection. Fast facts Organizers of the games, set to take place in September 2022 in Hangzhou, the capital city of the eastern province of Zhejiang, announced in a social […]

Amid the country’s ongoing Senate inquiry into crypto regulation, the Reserve Bank of Australia has posted a job advertisement for a position within its central bank digital currency research team. Fast facts A successful applicant would join a new cross-disciplinary team to research “whether there is a case for a CBDC in Australia, and if […]

The government of Laos has authorized six firms to trade and mine cryptocurrencies, ending a ban imposed in 2018, according to a recent notice from the prime minister’s office.  Fast facts Laos had implemented a complete ban on cryptocurrencies three years ago, including on trading and mining activities. As recently as last month, the country’s […]

Mid-sized crypto exchange Foblgate announced the closure of its Korean won (KRW) trading functions in advance of a government mandate banning digital asset platforms from operating cash-to-crypto services without a local bank partnership. Fast facts Foblgate announced it is temporarily suspending its KRW withdrawal, deposit and trading market between cryptocurrencies and the Korean won. Instead, […]

FTX hit by hack rumor meanwhile Korea updates crypto death note

Financial authorities reveal an updated list of virtual asset platforms that have complied with new regulations.

A tourist spot in South China’s Hainan province to hand out digital yuan, while Shenzhen tests adoption for Hong Kong residents.

More provinces in China are putting new limits on the cryptocurrency mining sector, as the country works toward its carbon neutrality goals and concerns over cryptocurrency trading loom. Fast facts Authorities in North China’s Hebei province today issued a notice to crack down on cryptocurrency mining and trading activities, saying that crypto mining consumes huge […]

In the latest response to a growing interest in non-fungible tokens, Beijing Business Today faults an art marketplace.

CrossTower became the second international crypto exchange to enter the Indian market last week after Binance made its entry by acquiring WazirX in 2019.

A sister paper of the People’s Daily, Securities Times, published an opinion piece to criticize non-fungible tokens (NFTs) as hype and suggested the digital assets should serve the real economy by tokenizing actual assets. Fast facts The article offers as an example Justin Sun’s NFT purchase of a digital avatar for US$10.5 million and the […]

The Miss Universe Thailand 2021 pageant has partnered with Bangkok-based crypto exchange Bitkub to feature non-fungible tokens (NFTs) as part of the competition, Bitkub announced. Bitkub claims the event will mark the first NFT beauty pageant. Fast facts Bitkub will mint NFT collectible cards of the pageant contestants. The company also will provide participants with […]

Iran, which imposed a temporary ban on Bitcoin mining a few months ago, continues to crack down on illegal crypto mining operations, closing down thousands of unauthorized mining facilities, according to local media reports. Fast facts The Iran Power Generation, Distribution and Transmission Company, also known as Tavanir, told the state-run ISNA that it had […]

The platform reports more users than WazirX and CoinDCX, and aims to make crypto trading as easy as ordering food online.

Why is Axie Infinity so popular, and what is the potential of play-to-earn gaming? Two venture capitalists share insights on Asia’s special place as GameFi’s hub.

Cardano smart contracts set for Sunday also CrossTower launches in India

In another example of harnessing blockchain technology in the legal world, the Zhejiang Patent Office launched China’s first intellectual property blockchain certification platform on Thursday in Hangzhou, Zhejiang Province’s capital city. Fast facts The platform provides users with a blockchain certification after they upload pictures or description documents of their original creation, such as art […]

Two of Australia’s “Big Four” banks — National Australia Bank and Westpac — have hit back at criticism they are suppressing competition by refusing to do business with cryptocurrency providers in the country, according to a report. Fast facts While neither of the banks have formal policies excluding crypto businesses, NAB chief executive Ross McEwan […]

The Sandbox, Animoca Brand’s subsidiary for decentralized virtual gaming, announces partnership with animation studio in Korea.

Design studio that makes hand-crafted statues for global brands such as Marvel, DC Comics and Hasbro plans to expand into new product categories, markets and NFTs.

At the risk of losing billions, crypto industry officials weigh options to oppose authorities.

Korea crypto damage assessed meanwhile Initium’s news based NFTs sell out

China-based Bitmain, one of the world’s biggest producers of cryptocurrency mining rigs, has sealed a deal with its United States partners — ISW Holdings and Bit5ive — to expand its operation in America. Fast facts ISW Holdings, a Nevada-based portfolio company with extensive crypto mining operations, will host 56,000 Bitmain mining rigs and pair them […]

Initium Media, also known as 端傳媒, is turning to blockchain technology to grow revenue and to ensure controversial news does not get forgotten — or tampered with.

Following crypto’s adoption in one struggling economy, nations in Latin America and elsewhere are now weighing the pros and cons of digital currency

A Chinese game company, Zhong Qing Bao, announced a metaverse game, and its stock rose considerably this week for two days in a row. Fast facts The game’s name is Brew Master, a game that lets players pretend to be winemakers and trade the wines that they make as NFTs. Two days after the game […]

Smaller virtual asset exchanges ask for mercy as a deadline looms to commit to Korea’s new standards.

Bitcoin price plunges however Metaverse actions heats up in China

Top blockchain and cryptocurrency news: El Salvador’s BTC experiment. EthereumMax and the power of celebrity. Hong Kong shores up regulatory oversight.

An official from Hong Kong’s Securities and Futures Commission said on Tuesday that the regulator wants to increase oversight of virtual assets because scams related to them have emerged in the market, according to a report by local media etnet. Fast facts Julia Leung, deputy chief executive officer at SFC, said Tuesday at a webinar […]

Just one day after El Salvador’s highly-anticipated adoption of Bitcoin as legal tender, the country’s recently acquired nest egg of 400 BTC lost roughly US$2.5 million in value as the entire crypto market saw a loss of 10% to 15% in 24 hours, according to CoinMarketCap.com Fast facts Bitcoin was trading around a four-month high […]

Hyperithm, a crypto investment trust company in South Korea, acquired an Information Security Management System (ISMS) certification — a requirement Korean authorities say every virtual asset operating business must secure. Fast facts Hyperithm is the first virtual asset brokerage in South Korea to be certified for information security by a public institution. Hyperithm’s announcement shows […]

In China, over 20 publicly listed companies have disclosed they are bringing to market e-CNY-related services and products, such as hardware wallets, a digital yuan payment system for schools, and a mobile phone SIM card that can pay for bike rentals with digital yuan at the tap of a phone, according to a report by […]

Only 21 out of 60 exchanges are expected to continue their services in Korea.

Korean exchanges offered lifeline while NFL bans crypto sponsorships

In response to increased scrutiny from regulators, crypto exchange Binance is removing itself from app stores in Singapore, as well as ending support for trading pairs and payment options in the Singapore dollar (SGD), according to a company press release. The move takes effect Friday, Sept. 10 at 04:00 UTC. Fast facts Last week, the Monetary Authority […]

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.

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 as Doge meme valuation explodes

Crypto trading platforms rush to meet a Sept. 24 deadline, hoping to comply with new rules designed to protect investors.

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, 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 while FTT token on a roll

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 […]

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 […]

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 […]

China’s BSN to launch in South Korea portal as Chinese Canaan secures huge mining rig orders

The multiplayer online role-playing game is widely popular elsewhere, while Korea bans play-to-earn crypto and NFT trading.

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

The Securities and Investments Commission warned against investing in digital-asset financial products. Some say the warning lacks specifics.

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 […]

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 […]

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 […]

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 […]

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?

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.