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March 2023

Ripple exec says innovation is leaving the US.

As US authorities continue to police crypto regulations, we take a look at the direction the country’s crypto innovation is headed.

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.

Cryptocurrencies bounce back despite fed rate hike

Most cryptocurrencies saw a huge increase in price over the past week.

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.

Centralized intermediaries were cause of crypto failures in 2022, says Voorhees

If there was a lesson from the crypto implosions of 2022, it is the demonstration of the superiority of open code and decentralization over central intermediaries, argues Voorhees at DC Blockchain Summit.

Taiwan’s financial supervisory commission will oversee crypto, chair says

Crypto in Taiwan remains largely unregulated, but lawmakers have requested the cabinet to appoint a regulator by May 16 to oversee all things crypto.

Who should be held responsible for the Silvergate Bank and SVB crises?

As bank after bank topples, fingers are pointing everywhere. But crypto is not to be blamed for this unfolding crisis, writes Winston Hsiao of XREX.

Circle’s USDC bounces back after Silicon Valley Bank bust

Top blockchain and crypto news: USDC stabilizes after SVB collapse. Silvergate closes shop. China tightens financial supervision.

Why global coordination on crypto regulation is paramount

In the race to tame crypto’s excesses, we need to avoid regulatory clashes while DeFi draws lessons from TradFi, writes Rachel Lin of SynFutures.

What Web3 must do if it wants to attract 1 billion users

Web3 is growing more rapidly than the early internet, writes Ken Timsit of Cronos Labs. But to achieve mainstream success, the following issues must be addressed.

FastForkast headlines

Hong Kong may license at least 8 crypto firms by year-end: former SFC regulator

SEC Chair urges more resources to regulate crypto and technology at House Subcommittee hearing

SEC charges Beaxy cryptocurrency platform for violating securities laws

Russia delays CBDC pilot to await new law

EU lawmakers impose €1,000 cap on anonymous crypto, cash transactions

Bitcoin rebounds above US$28,000, XRP leads gains among top 10 cryptos

OKX cryptocurrency exchange to apply for virtual asset license in Hong Kong

Asia leads crypto regulations, innovation may leave the US, says Ripple’s Long

Bitcoin, Ether extend declines amid U.S. lawsuit against Binance; Asian equities mixed

G7 nations set to push for stricter cryptocurrency regulations at Japan summit in May

SEC warns Coinbase of potential legal action over staking, separately targets Tron founder Sun

Internal Revenue Service in U.S. solicits public opinions on proposed NFT taxes

Indian crypto exchange WazirX blocks over 2,400 accounts in 6 months

Over 80 Web3 firms in line to set up shop in HK, ahead of crypto regulations taking effect in June

Crypto data provider Kaiko to move Asia HQ to Hong Kong from Singapore: Bloomberg

US, Germany shut ChipMixer for alleged ties to US$3 bln crypto laundering 

New York attorney general sues KuCoin for ‘falsely representing itself as an exchange’

CFTC chair calls Ethereum a commodity, in contrast to SEC chair Gensler’s position

China’s parliament member to propose NFT regulation at ‘Two Sessions’

Thailand to offer tax breaks to firms issuing investment tokens

Fed’s Powell says stablecoins could have role in financial sector if properly regulated

Bitcoin ATM firm accused of profiting from crypto scams via unlicensed machines: U.S. Secret Service

March 2023

Asia’s Opportunity to Lead Crypto Regulations

Crypto industry’s interaction with regulators is important and quite common in Asia but missing in the US, says Brooks Entwistle of Ripple Labs.

Hong Kong’s Crypto Dream

Hong Kong’s economy is shrinking, but a recent budget draft published by the government lists some changes that could help the city recover – and crypto is at the center of it all.

Hong Kong’s new crypto regulation may lure Web3 firms back, experts say

Hong Kong’s proposed crypto licensing regime received Huobi Global’s pledge to return to the city, and more companies may follow, industry experts told Forkast.

Blur lives up to name as its trading volume surpasses OpenSea

Top blockchain and crypto news: Blur’s success spurs changes at OpenSea. Is Binance eyeing US exit? Taiwan asset disclosure rules may include crypto.

Trust in crypto is in shambles. How can we rebuild it?

Greater transparency and confidence in who you are transacting with could go a long way toward alleviating public mistrust, writes Travis Nelson of Quadrata.

Industry reacts: US cracks down on crypto, India calls for regulatory collaboration

The cryptocurrency industry this week reacted to the recent moves by U.S. authorities against Kraken and Paxos. Meanwhile, India has been calling for a collaborative approach to crypto regulations.

Paxos ordered to stop minting Binance stablecoin as SEC mulls legal action

Top blockchain and crypto news: Paxos halts BUSD issuance. Kraken faces disclosure charges. Beijing backs new blockchain research center.

Crypto Clampdown Begins

As financial regulators around the world continue to crackdown on stablecoins, some are asking if they are overreaching their jurisdiction.

Be careful what you wish for? Regulators pick up pace in the crypto industry crackdown

Last year was memorable in the emerging world of digital assets for the sheer number of corporate failures. The industry itself has been asking for clearer legal guidelines to help development. Is that what’s happening now?

Crypto Clarity Coming?

The UK and Europe are following suit in trying to regulate crypto. Just how far along have they come and what more do they have in store?

Crypto Regulation Race

2023 could be the defining year for crypto regulation – but who’s leading the race to regulation and what’s the best way about it?

Binance makes Korea comeback with GOPAX acquisition

Top blockchain and crypto news: GOPAX deal sees Binance return to South Korea. Inflation fight spooks crypto markets. Chinese liquor giant gives cheers to NFTs.

What is CeDeFi, and why it is the future of finance

CeDeFi offers the benefits of CeFi and DeFi without their shortcomings, writes Alexander Tkachenko of VNX. Here’s how it works.

Why the cloud will be critical to US competitiveness in world finance

The future global financial system will be reliant on the cloud, especially when it comes to CBDCs and stablecoins, writes Michael Greenwald and Logan Weber.

Bitcoin mining fund soars as BTC powers into 2023

Top blockchain and crypto news: BTC mining ETF outperforms. SBF under pressure as accusations mount. ‘China’s Instagram’ embraces NFTs.

FastForkast headlines

Bitcoin ATM firm accused of profiting from crypto scams via unlicensed machines: U.S. Secret Service

IMF releases crypto action plan, advises against legal tender status

SEC accused of ‘back door’ labeling of crypto as securities in Coinbase insider trading case

Canada gives crypto companies 30 days to meet updated registration guidelines

Taiwan must mandate a central authority to oversee crypto by May 16, says lawmaker

Hong Kong begins public consultation on crypto licensing regime

Taiwan may mandate public servants to declare crypto holdings

Binance expects to pay penalties to settle U.S. probes: Wall Street Journal

EU begins regulatory sandbox for blockchain technology

Digital asset industry comes under fire at hearing by U.S. Senate on ‘Crypto Crash’

S. Korean regulators to probe local crypto staking services following U.S. crackdown: News1

U.S. Congress, not the SEC, will set cryptocurrency regulations, says Blockchain Association

SEC may make it harder for hedge funds to work with crypto firms: Bloomberg

Singapore’s DBS bank plans to apply for crypto license in HK: report

India discussing crypto, regulation with G20, says finance minister

Head of crypto, FX trading platform EminiFX pleads guilty to US$248 million fraud charges

Markets: Bitcoin, Ether prices extend losses; Dogecoin sole gainer among top 10 cryptos

Jury sides with fashion giant Hermès in MetaBirkins NFT case

Beijing regulator warns about NFT speculation, illegal fundraising. Crackdown coming?

South Korea issues guideline on cryptocurrencies as securities tokens ahead of planned legalization

India working with IMF, FSB on crypto regulations, says economic affairs secretary

Hong Kong to mandate stablecoin licensing as early as this year

February 2023

FastForkast headlines

Hong Kong to mandate stablecoin licensing as early as this year