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Russia is 2nd biggest Bitcoin miner after U.S.: report 

Russia is now the second largest Bitcoin miner after the U.S., according to a report by Russian media Kommersant. 

Bitcoin extends drop, stays below US$28,000; Solana, Polygon leads losers in top 10 cryptos

Bitcoin extended losses in Monday afternoon trade in Asia, along with all top 10 non-stablecoin cryptocurrencies by market capitalization, with Solana and Polygon as the biggest losers.
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India’s finance minister lauds DLT, says crypto regulation does not mean technology control

India’s Finance Minister Nirmala Sitharaman, in commending the potential of distributed ledger technology (DLT), has urged for a global consensus in regulating crypto while emphasizing that regulation did not equate to government control over the technology. 

Do Kwon: The Rise & Fall

Do Kwon has been charged by Montenegrin authorities for attempting to travel with forged documents as the US and South Korea race to extradite him.

EU green lights MICA but Cryptos tumble on economy worries

Welcome to The Daily Forkast – April 21, 2023 – presented by Megha Chaddah. The European Union has approved the passage of their Markets in Cryptoassets (MiCA) law, making it the first major jurisdiction in the world to introduce a comprehensive law for the crypto sphere. Meanwhile, the crypto markets have sailed on steadily for […]

EU Parliament approves its first crypto regulation MiCA

The European Parliament has approved the Markets in Crypto-Assets Act (MiCA), a legislation aimed at standardizing regulations and establishing harmonized rules for crypto assets across the European Union

Bittrex in SEC’s crosshairs as compliance lawsuits keep coming

Top blockchain and crypto news: Bittrex in SEC line of fire. Bored Apes fall after whale sale. Chinese banks court crypto clients.

Bitcoin, other cryptos fall as investors book profit

Welcome to The Daily Forkast – April 20, 2023 – presented by Megha Chaddah. Bitcoin is down more than 5% Thursday morning in Asia. Ethereum also fell to lose hold of the US$2,000 price support in a sell-off across all top 10 non-stablecoin tokens. In the multi-chain economy, the Forkast Labs indexes trade mixed.

Crypto miner Bitdeer falls 35% since Nasdaq debut, reports net loss in 2022

Shares of Singapore-based cryptocurrency miner Bitdeer have slid more than 35% since their Nasdaq debut on April 14, and were trading at US$6.41 at closing on Wednesday.

Bitcoin gains, holds above US$30,000; Solana, BNB biggest losers in top 10 cryptos

Bitcoin rose and traded above US$30,000 on Wednesday afternoon in Asia, while Ether fell along with most top 10 non-stablecoin cryptocurrencies by market capitalization. Solana lost the most, followed by Binance’s BNB token.
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United Arab Emirates opens licensing applications for cryptocurrency companies

UAE’s Securities and Commodities Authority said Monday it has started accepting applications for operating licenses from cryptocurrency businesses.

Bitcoin slips, Ether inches above US$2,100

Bitcoin dropped on Tuesday afternoon in Asia but remained above US$29,000, while Ether and most top 10 non-stablecoin cryptocurrencies gained. Dogecoin and Solana fell on the day and rose on the week.
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Bitcoin, Ether extend losses; Solana gains most in mixed market

Bitcoin dropped on Monday afternoon in Asia and continued to trade below US$30,000. Cardano led losers among top 10 non-stablecoin cryptocurrencies in a mixed market. Solana led gains, followed by Binance’s BNB token and memecoin Dogecoin.

Bittrex cryptocurrency exchange rejects U.S. SEC charges it offered unregistered securities

Seattle-based crypto exchange Bittrex Inc. has rejected charges by the U.S. Securities and Exchange Commission (SEC) that it and co-founder Bill Shihara operated an unregistered national securities exchange, broker and clearing agency. The SEC filed the charges on Monday. See related article: U.S.-based cryptocurrency exchange Bittrex lays off 83 employees Fast facts See related article: U.S. SEC […]

U.S. House Financial Services Committee releases draft stablecoin bill for Wednesday hearing

The U.S. House Financial Services Committee is set to hold a hearing on April 19 to discuss a draft bill released over the weekend on regulating stablecoins, a class of digital currency designed to offer price stability by being pegged to another asset’s value.

East meets West at DAO Tokyo conference as Japan plays catch up

The global culture of decentralized autonomous organizations arrived in Japan last week for DAO Tokyo, the first event of its kind in Asia according to the organizers, drawing over 350 founders and contributors from all corners of the world for discussions on all things DAO.

SEC ‘crypto mom’ Hester Peirce attacks U.S. regulator’s new exchange definition on DeFi

SEC member Hester Peirce has criticized the regulatory agency for its proposal that seeks to expand the definition of an “exchange” to DeFi platforms.

Kraken to withdraw US$1.17 bln of staked Ether in line with SEC ruling, settlement

As part of its February settlement with the Securities and Exchange Commission (SEC), the U.S.-based Kraken crypto exchange has submitted the largest Ether withdrawal request since Wednesday’s upgrade to the Ethereum blockchain. The SEC ordered Kraken to shut down what it called unregistered staking programs.

Bitcoin inches up, remains above US$30,000; Ether gains after Shapella upgrade

Bitcoin and Ether rose during Asian trading hours on Thursday, along with all of the top 10 non-stablecoin cryptocurrencies by market capitalization. Ether rose the most, following the successful completion of the Shapella upgrade.

Hong Kong’s ZA Bank starts offering crypto-fiat conversion services: Bloomberg

ZA Bank, the largest virtual bank in Hong Kong, has started offering cryptocurrency conversion services through licensed crypto exchanges.

Crypto firms hardpressed to find U.S. bank partners as industry blames ‘Operation Choke Point 2.0’

NYDFS superintendent Harris called the idea of Operation Choke Point 2.0 “ludicrous,” but industry participants largely disagree. Was the shutdown of the three largest crypto-friendly institutions a coordinated effort to unbank crypto?

Ethereum rolls out Shapella upgrade amid worries over price pressures

Top blockchain and crypto news: Ethereum fork prompts price fall fears. Satoshi is found — in Apple software. Hong Kong ramps up Web3 plans.

Bitcoin slips but remains above US$30,000 ahead of U.S. inflation data

Bitcoin slipped in Wednesday afternoon trade in Asia but remained above the US$30,000 mark. Ether prices sank, along with all top 10 non-stablecoin cryptocurrencies by market capitalization, with Cardano and Dogecoin as the biggest losers.
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France to develop local metaverses against global giants

The French government announced a public consultation on “virtual immersive universes,” or the metaverse.

US crypto miner Core Scientific appoints new president amid bankruptcy

Adam Sullivan, whose most recent role was managing director of XMS Capital Partners, will will work on financial and strategic matters while assisting with the negotiation of a reorganization plan.

Equinix, Astra in pact to advance Indonesia’s digital infrastructure needs

Nasdaq-listed Equinix and Indonesian conglomerate Astra International have set up a joint venture to help local businesses and multinationals capitalize on emerging technologies.

Common regulatory framework for crypto to come during India’s G20 presidency, finance minister says

A common regulatory framework for all countries is underway, India’s Finance Minister Nirmala Sitharaman said on Monday.

Bitcoin rises above US$30,000, Solana leads gains across top 10 cryptos

Bitcoin continued to rally past US$30,000, with Ether and all other top 10 non-stablecoin cryptocurrencies gaining in Tuesday afternoon trade in Asia. Solana was the biggest gainer at 11.09%.
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U.S. SEC committee urges ‘aggressive enforcement’ on crypto, says most tokens are securities

The U.S. SEC Investor Advisory Committee urged the federal agency to continue its aggressive enforcement on crypto players that offer unregistered securities.

Ex-chief of HKMA heads Hong Kong’s new Web3 institute

Hong Kong has established the Institute of Web 3.0 to facilitate the development of the crypto ecosystem in the city, directed by a former head of HKMA.

S. Korean exchange GDAC hacked, loses around 23% of its assets

South Korean exchange GDAC has suspended withdrawals and deposits after losing over US$13.1 million in Bitcoin, Ether, Wemix and USDT in a hack.

Bitcoin holds above US$28,000, Dogecoin rises most in top 10 cryptos

Bitcoin and Ether rose in Monday afternoon trade in Asia, along with most other top 10 non-stablecoin cryptocurrencies by market capitalization.
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Hong Kong financial secretary eyes Web3 push despite market fluctuations

Paul Chan said it is the right time for the city’s Web3 push ahead of Hong Kong’s busy week of blockchain and finance gatherings.

Bitget exchange starts US$100 mln fund to support ‘next-generation’ crypto projects

Bitget on Monday said it had launched a Web3 Fund with an initial investment of US$100 million to support development of cryptocurrency projects.

Arkansas joins Montana, Texas with bills on guidelines, protection for Bitcoin miners

Arkansas has joined Montana and Texas this year in proposing legislation to offer legal protections to companies operating crypto mining sites.

Thai opposition pledges US$15 bln in digital tokens: Bloomberg

Thailand’s main opposition party said it would distribute US$15 billion worth of digital tokens to citizens if it wins the general election

ECB’s Lagarde gets pranked, reveals digital euro will have ‘limited’ control

ECB President Christine Lagarde said the digital euro would have “limited control” in a prank call.

Bitcoin trades under US$28,000, Dogecoin biggest loser

Bitcoin rose as Ether fell during Asian trading hours on Friday, with most of the top 10 non-stablecoin cryptocurrencies by market capitalization dropping. XRP rose the most, while Dogecoin was the biggest loser.

Local prosecutors say Terra-Luna’s Do Kwon has no identifiable assets in South Korea

The arrested crypto fugitive Kwon Do-hyung has “zero ” identifiable assets in his native South Korea, prosecutors said on Friday.

India prioritizes offline CBDC transfers, targets 1 mln users in three months: CoinDesk

India is reportedly aiming to have one million users of its CBDC within three months of launch, according to sources familiar with the matter cited by CoinDesk. 

Singapore developing guidelines for banks on crypto clients: Bloomberg

The Monetary Authority of Singapore is reportedly working on guidelines to help local banks vet and provide banking services to cryptocurrency clients

Chinese state-owned company launches crypto funds in Hong Kong

A major state-owned firm in China is launching two cryptocurrency funds in partnership with investment firm Waterdrip Capital. 

ASIC cancels Binance Australia’s derivatives license

The Australian securities regulator has canceled Binance Australia’s derivatives license.

Swiss PostFinance bank to offer crypto services to 2.5 mln customers

PostFinance, a Swiss government-owned retail bank, has partnered with Sygnum Bank to provide crypto-related services.

Japan’s CoinTrade partners with Fireblocks to improve digital asset security

CoinTrade said it has partnered with crypto custody platform Fireblocks to provide institutional clients with improved security for digital assets.

Bitcoin holds above US$28,000, Ether rises most in top 10 cryptos

Bitcoin remained above US$28,000 in Wednesday trade in Asia. Ether made the most gains as the top 10 non-stablecoin cryptocurrencies by market capitalization increased, except Dogecoin.
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Overseas crypto transfers cost 96.7% less than traditional system: Coinbase

Americans spend more than US$12 billion in remittance fees each year when sending money to family and friends living overseas using the traditional financial system. However, overseas remittances using Bitcoin and Ethereum cost 96.7% less, according to research by Coinbase.

Bitcoin trades above US$28,000, Dogecoin leads gains among top 10 cryptos

Bitcoin, the world’s largest cryptocurrency by market capitalization, recovered to trade above US$28,000 on Tuesday afternoon in Asia.

Singapore’s Alchemy Pay eyes South Korea expansion with US$10 mln funding

Alchemy Pay is eyeing expansion in South Korea following its US$10 million funding from blockchain investment firm DWF Labs.

What the US can learn from the Philippines to regulate crypto in a smarter way

The Philippines has licensing requirements and proactively monitors crypto firms, while the US regulates by enforcement only after consumers are already badly hurt, writes Robert De Guzman of Coins.ph.

Bitcoin drops below US$28,000, Dogecoin biggest loser in top 10 cryptos

Bitcoin fell and traded below US$28,000 in Monday afternoon trade in Asia. Ether and most other top 10 non-stablecoin cryptocurrencies by market capitalization also declined.
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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.
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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.
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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.