Region

The Securities and Exchange Commission of Thailand issued new rules for cryptocurrency custody services on Tuesday.

Climate action and Ukraine were key discussion points on the first day of the World Economic Forum’s annual meeting in Davos.

S. Korea’s capital city opened the first stage of ‘Metaverse Seoul’ on Monday, which it claims is the first city-backed public metaverse in the world.

A South Korean court ruled against the release of a blockchain P2E game last Friday after determining that in-game NFTs promote speculation.

Tokyo-based online brokerage Monex Group Inc. indicated it may join the bidding for the Japan subsidiary of the failed FTX cryptocurrency exchange.

Lee Byung-gul, the CEO of V Global, will serve 25 years in prison after his conviction was upheld by the Supreme Court of Korea on Friday.

Creditors of Singapore-based crypto lending and borrowing platform Hodlnaut have rejected a proposed restructuring plan and wish to liquidate the company.

South Korea’s attempts to extradite the founder of the collapsed Terra-Luna stablecoin will remain hamstrung while the courts in Seoul dispute the charges against him.

Coinbase, the world’s second largest cryptocurrency exchange by trade volume, is cutting jobs and closing down most of its operations in Japan.

El Salvador has passed landmark legislation that establishes a legal framework for all cryptocurrencies to build on the country’s “first-mover advantage.”

Bitcoin and Ether rose in Thursday afternoon trading in Asia, along with all other top 10 non-stablecoin cryptocurrencies, as investors anticipate signs of slower inflation in the upcoming Thursday release of the U.S. Consumer Price Index for December.

Binance, the world’s largest cryptocurrency exchange, has received regulatory approval from the Swedish Financial Supervisory Authority to operate as a financial institution to manage and trade in virtual currency, as part of the exchange’s continuing expansion in Europe.

Hong Kong has passed a new licensing regime on for crypto exchanges that will subject providers to the same legislation and rules as traditional finance.

Some 90% of user assets at WazirX, India’s largest crypto exchange by volume, are held in wallets at Binance while the remaining 10% are stored in hot and warm wallets, revealed WazirX’s proof of reserves that the company released on Wednesday.

Thailand’s Securities and Exchange Commission (SEC) has written to cryptocurrency exchange Zipmex Thailand seeking clarification on whether it has been operating as a digital-asset fund manager without permission, according to a Bloomberg report. 

Top blockchain and crypto news: DCG under investigation. Lido DAO surges as Ethereum’s Shanghai upgrade looms. Hong Kong burnishes crypto credentials.

Indian cryptocurrency exchanges faced a flurry of taxes on trading last year that saw volumes across most platforms drop as much as 90%, slashing income from trading fees. What’s a crypto exchange to do? Maybe sell mutual funds?

India’s Decimal Point Analytics (DPA), a research and data analytics firm, has received grant funding of up to US$750,000 from The Hashgraph Association, a Switzerland-headquartered non-profit organization, to develop an asset tokenization platform on Hedera’s distributed ledger technology (DLT) network. 

Bitcoin dropped in afternoon trading on Tuesday along with most other top 10 non-stablecoin cryptocurrencies by market capitalization. Ethereum rose further while Dogecoin led gains. 

PayProtocol, the South Korean issuer of payments-focused cryptocurrency Paycoin (PCI), will reapply for a local license to stay in business.

Indian music composer A. R. Rahman, who won Best Original Score at the Oscars for the movie Slumdog Millionaire, has launched the ‘Katraar’ metaverse platform to promote new music creations and other art forms.

Bitcoin, Ethereum extended gains in afternoon trade in Asia on Monday along with the top 10 non-stablecoin cryptocurrencies by market capitalization. Cardano rose the most in the last 24 hours, followed by Polygon, BNB and Dogecoin.

Hong Kong will continue pushing ahead with the development of the Web 3.0 industry as it aims to become a regional hub for the nascent industry despite the series of collapses of crypto exchanges, said Paul Chan, the city’s financial secretary on Monday.

U.S. prosecutors and the Securities and Exchange Commission (SEC) have started to investigate cryptocurrency-focused conglomerate Digital Currency Group (DCG), Bloomberg reported on Saturday, citing unnamed sources.

Hong Kong should make efforts to encourage the establishment of virtual assets rating agencies, and consider developing the e-HKD, the city’s central bank digital currency in the works, into a stablecoin, a Hong Kong lawmaker said in a recent media interview.

WazirX VP Rajagopal Menon sits down with Forkast to provide some insight as survival becomes a huge concern for crypto exchanges in India.

Crypto Council’s Sheila Warren hopes to see more of crypto’s real-world use cases emerging in the media next year.

India’s current cryptocurrency tax structure “may lead to a loss of approximately US$1.2 trillion of local exchange trade volume in the next four years,” according to research by Esya Centre, a technology policy think tank in India.

Indonesia plans to set up a crypto stock exchange in 2023, ahead of moving regulatory powers to securities authorities from a commodities jurisdiction.

Ripple Labs Inc. expects a court decision in the first six-months of this year in the case filed against the company by the U.S. Securities Exchange Commission. The SEC sued Ripple in December 2020 for allegedly selling US$1.3 billion in unregistered securities.

The Hong Kong Police received 1,503 online investment scam complaints over the first 10 months of 2022, 70% were related to cryptocurrencies.

The U.S. Federal Reserve, FDIC and the OCC have issued a joint statement to warn banks of the risks with crypto assets.

Binance declined to comment on reports in local media that it is in late stage talks to acquire South Korean digital asset exchange GOPAX.

The Securities Commission of The Bahamas has rejected “material misstatements” made by FTX’s newly-appointed CEO, John J. Ray III

Yosuke Matsuda, the president of Square Enix, has reaffirmed the gaming company’s commitment to blockchain technology.

Hong Kong’s financial services providers, including local brokers and fund managers, are seeking advice to prepare for new licensing requirements which will allow them to provide services to retail traders, according to a media report.

The Securities Commission of the Bahamas is temporarily holding US$3.5 billion of digital assets seized from FTX Digital Markets

A group of S.Korean hackers stole 8.5 billion Korean won (US$6.7 million) worth of cryptocurrencies from Kim Jung-ju, the late founder of Nexon.

South Korea took a real shine to the metaverse in 2022, with the central government, regions and cities all interested in getting a piece of the virtual reality pie, despite criticism that the technology has a long way to go.

Japan-based game company Gumi has announced a business alliance with Square Enix SBI Holdings to grow its metaverse business.

Kraken announced on Wednesday that it will “cease its operations” in Japan and deregister from the Financial Services Agency.

In times of market volatility, regulation can restore confidence and public trust in crypto, writes Albert Isola, Gibraltar’s minister for digital and financial services.

Japan’s Financial Services Agency (FSA) reportedly plans to allow the circulation of foreign-issued stablecoins in the local market next year.

Bitcoin and Ethereum extended gains on Tuesday afternoon in Asia along with almost all other non-stablecoin top 10 cryptocurrencies by market capitalization. XRP was the biggest winner, rising nearly 4.8% in the last 24 hours.

India loves religious festivals, but are its citizens ready to attend such celebrations in virtual reality? An Indian startup reckons they are and launched its first effort this year, saying 20,000 avatars showed up.

A centuries old Taiwan temple dedicated to a popular goddess has latched onto non-fungible tokens or NFTs as a means for worshippers to get access to pilgrimages and other events.

The Bitcoin network hashrate has dropped by more than 38.8% from its peak on Wednesday, as many U.S.-based miners have been forced to switch down their facilities due to deadly blizzards. See related article: British Columbia suspends new electricity connections for crypto miners Fast facts See related article: Bitcoin mining difficulty rises 3.27% in latest […]

Hong Kong’s commercial crime investigation bureau on Friday arrested two local men for suspected involvement in digital asset fraud on Atom Asset Exchange (AAX)

A lot of the troubles for India exchanges in 2022 will run into next year as they shed staff and run down reserves to stay afloat, and not all are expected to make it.

Core Scientific said it may sell some of its mining facilities under development that could be worth up to a gigawatt of power after it filed for bankruptcy protection.

Top blockchain and crypto news: US senators push for crypto KYC. SBF faces the music in US courts. Alibaba Cloud to launch blockchain node.

As crypto investors move towards self-custody following FTX’s collapse, Brian Paik wonders whether it could teach people the true value of Bitcoin, beyond hype and price speculation.

Sam Bankman-Fried, former CEO of FTX, has signed documents in the Bahamas for extradition and is scheduled to the U.S. on Wednesday.

Busan announced the steering committee for its flagship exchange, but it didn’t include global partners earlier linked to the project.

FTX founder Sam Bankman-Fried appeared in court in the Bahamas, but did not agree to be extradited to the U.S. 

South Korea’s Gyeongbuk Province plans to use the metaverse to expand economic and other relations with Vietnam.

Julia Leung, the next chief executive of Hong Kong’s Securities and Futures Commission (SFC) due to start her three-year term on Jan. 1, called for stricter crypto regulation when speaking at the city’s Fintech Week last month.

Sam Bankman-Fried has reportedly made a second application for bail in the Bahamas – this as lawyers feud over control of the FTX bankruptcy, raising concern the sour grapes may seep into efforts to have Bankman-Fried extradited to face fraud charges in the U.S.

Hong Kong launched two exchange-traded funds (ETFs) tracking cryptocurrency futures on Friday, the first of their kind in Asia, the local exchange said.

Japan’s ruling party approved a proposal that exempts companies issuing crypto from taxes on unrealized gains on retained tokens.

Asia’s cryptocurrency community is “on the path of moving on” from the FTX fiasco, following the arrest of FTX founder Sam Bankman-Fried, said Yat Siu, cofounder and chairman of Hong Kong-based blockchain gaming studio and venture capital firm Animoca Brands.

A Japanese lawmaker called for more transparent regulations following the FTX meltdown, where investors were not warned of the risks with FTX Token.

As U.S. prosecutors line up charges against Sam Bankman-Fried, the founder of the collapsed FTX cryptocurrency exchange, Senator Elizabeth Warren is seeking to pass bipartisan regulation to rein in the “dark underbelly” of the crypto industry.

SBF was arrested by Bahamian authorities just a day before he was due to testify before Congress – but his successor has been revealing much about FTX’s collapse.

An official in the South Korean city of Busan said the authorities have received no confirmation that Binance has pulled out of a partnership to establish the country’s first city-backed crypto exchange, as reported by local media.

Top blockchain and crypto news: SBF denied bail, US extradition likely next. The Block chief quits over secret FTX loans. Hong Kong readies digital asset rules.

Members of a U.S. Congressional hearing expressed frustration about the timing of Bankman-Fried’s arrest, saying they wanted him to testify under oath so the public could get the answers they are seeking about the collapse of FTX.

Wemade Co. filed an immediate appeal against the court’s Dec. 7 decision that rejected the developer’s request to disallow four of the nation’s largest crypto exchanges from delisting its native cryptocurrency, WEMIX.

Stablecoins in USD are becoming the digital world’s default currency — which burdens ordinary crypto users and monetary policies in smaller nations, writes Wei Zhou of Coins.ph.

Sam Bankman Fried, founder and former CEO of FTX exchange, was arrested and taken into custody by the Royal Bahamas Police on Monday.

The Hong Kong Securities and Futures Commission (SFC) is drafting regulatory requirements for the local licensed crypto exchanges, in light of the FTX debacle, according to a report on Monday by Hong Kong public broadcaster RTHK

S.Korean authorities may mandate companies to pursue direct approval from regulators to list their crypto on local digital assets exchanges.