An investor who received $1.25M in Bitcoin by accident will not be criminally penalized, raising questions on the legal status of cryptocurrencies.
Blockchain promotes trust and can greatly cut transaction costs, writes Edmund To of GSBN. So why is the shipping industry still clinging to paper documents?
Federal regulators have turned their sights on stablecoins. But is the attempt to tame this digital currency too late?
Delay likely for India’s crypto bill, none the less 2021 becomes crypto’s landmark year.
The report says the country’s crypto industry could swell by up to 30 times its current size in the coming decade.
Crypto 1 will consider acquisition targets worldwide but steer clear of digital assets companies in China and Hong Kong. Are the lights dimming on a major crypto hub?
India’s proposed rules for digital assets would ban cryptocurrency for payments while the Securities and Exchange Board regulates exchanges. Will it become law?
Tough measures in India’s crypto bill meanwhile, NFTs are becoming a hot Christmas gift
As part of a broader attempt to address Australia’s payments industry, the government offers a roadmap to where crypto regulation can lead in 2022.
Crypto crash hits Korean game developers, also how to spot Rug-pull’s red flags
Tourism officials want to attract more crypto-wealthy travelers to Thailand’s shimmering shores. But will the crypto faithful come if Thailand still has a ban on SHIB and Dogecoin?
A cabinet note suggests the government intends to regulate cryptocurrencies as assets with the Securities and Exchange Board of India at the helm.
Sohn Byung-doo, chief executive officer for Korea Exchange (KRX), urged South Korea to prepare an institutional infrastructure as virtual assets have become a major investment asset in the country. Fast facts In his speech at the 2021 Global ETP Conference, Sohn insisted that the “virtual asset market is no different from the capital market in […]
A former finance secretary says too much is yet unknown about the new crypto bill for investors to expect the worst.
Conversation between current and former SEC chairs at annual digital asset compliance summit focused on regulating crypto.
Top blockchain and crypto news: Are India’s CBDC plans crowding out crypto? Jack Dorsey goes full Bitcoin bro. China’s digital yuan hopes claim another victim.
Omicron hits markets meanwhile Japanese novel released as NFT
Bitcoin and Ethereum prices fell nearly 24% in India as investors sought to get ahead of a possible crypto prohibition.
India proposes crypto ban meanwhile Metaverse race heats up
Three U.S. agencies released a joint statement outlining a plan to fast-track crypto-asset regulation in 2022.
Korea stands firm on NFT games, meanwhile Laos introduces crypto regulations
The US Infrastructure Act has provisions that should make crypto advocates shudder, writes Alex Shipp of Offshift. Who will stand up for crypto’s core values?
The securities markets regulator ordered $3.85B in fines, while new actions included ‘emerging threats’ in the crypto industry.
While fears of a complete ban on virtual currencies have been dispelled, Indian investors are still in the lurch about what may or may not be allowed.
Billions have been stolen through hacks from decentralized finance protocols, with Ethereum seeing the bulk of losses, according to a report by Elliptic.
While a significant legislative achievement for U.S. President Joe Biden, the US$1 trillion bipartisan infrastructure bill signed into law on Monday included provisions relating to cryptocurrency tax reporting requirements that has many in the industry nervous. Fast facts As Forkast.News previously reported, provisions were added to the bill as it was being drafted in August […]
While the government has yet to figure out the details, a crypto regulatory regime is expected to be released before February.
Russia to legalize crypto mining; Korean candidate goes all out crypto
The Russian government could be looking to legalize cryptocurrency mining, as parliamentarian Andrey Lugovoy proposed the creation of a working group to discuss the issue, according to a Thursday press statement from State Duma, the country’s lower house of the parliament. Fast facts Lugovoy, also a deputy chairman of a committee on security and anti-corruption, […]
FTX founder and CEO Sam Bankman-Fried says building products that people want is what matters most, and the crypto industry and regulators will need to find compromises to resolve some of the industry’s pressing issues.
The Indian government is looking to introduce a cryptocurrency bill in the winter session of parliament in a bid to “fast track” regulation of a rapidly growing ecosystem, CNBC-TV18 reported. Fast facts India first drafted a bill to ban all cryptocurrencies in the budget session of 2021, but it was never tabled for discussions. Officials […]
From China’s crackdowns to El Salvador’s Bitcoin adoption, where is the world headed in how governments regard crypto? An expert panel explores the future of decentralized finance in the global economy.
After the SEC approved a Bitcoin futures ETF, the cost of crypto mining rigs jumped. Coincidence? Varit Bulakul of The Brooker Group explains.
What makes 2021’s roaring crypto market different from 2017’s are the banks and VCs piling in, writes Calvin Shen of Hex Trust. What’s behind their crypto adoption?
Top blockchain and crypto news: Ethereum rises and rivals follow. Taxing times for US investors. New life for reborn crypto miner.
Speaking at the Singapore FinTech Festival, Singapore central bank chief Ravi Menon announces the launch of Project Orchid, a digital dollar project.
DeFi is here to stay, but regulations are still lacking. Jason Blick of EQIBank explores the challenges and how authorities can move forward.
The highly awaited report outlines recommendations for stablecoin regulation and asks regulatory bodies to combat risks until Congress introduces new laws.
The global AML watchdog provides clarifications on how crypto is to be regulated — and why DeFi could see more scrutiny.
The Commodity Futures Trading Commission is ready to be the “primary cop on the beat” for digital assets, CFTC acting chair Rostin Behnam said at his confirmation hearing on Wednesday. Fast facts As of Tuesday, “the total size of the digital asset market was US$2.7 trillion and among that $2.7 trillion, nearly 60% were commodities. […]
As Asia warms to crypto, cyber attacks are growing in sophistication, writes Shahnawaz Backer of F5. What can be done to thwart bad actors?
Recent developments indicate the government is looking to regulate the sector instead of quashing it, and industry experts remain optimistic.
U.S. Securities and Exchange Commission chair Gary Gensler has reiterated over time that most stablecoins are securities and should, therefore, fall under the purview of the securities watchdog. Now, Gensler is one step closer to achieving his aim of regulating stablecoins. Fast facts The U.S. Treasury Department and other agencies are putting together a report […]
Australia’s Senate report into fintech regulations includes 12 recommendations for a clear digital assets framework.
The Senate unveiled its most comprehensive look at blockchain regulation, hoping to transform the country into a global industry leader.
In a special Q&A, CEO Louis Liu describes the hoops FOMO Pay jumped through to win Singapore’s first crypto license and calls its regulator a ‘collaborator.’
How the crypto economy is engaging with legislators, what policy makers need to know about Web 3.0 and what role the U.S. infrastructure bill has played in kickstarting better cryptocurrency education.
A group of U.S. lawmakers called on Facebook to halt its cryptocurrency and digital wallet project Novi hours after its pilot launch began on Tuesday, amid the company’s ongoing trust crisis. Senators Brian Schatz (D-HI), Sherrod Brown (D-OH), Elizabeth Warren (D-MA), Richard Blumenthal (D-CT) and Tina Smith (D-MN) said the tech giant “cannot be trusted […]
Amid a national conversation on debanking of crypto businesses, one of Australia’s “Big Four” banks — ANZ — has settled a case brought by local exchange operator Allan Flynn, who argued ANZ debanked him due to his occupation in cryptocurrency. Fast facts Flynn, crypto trader and owner of the Australian exchange CanberraBitcoin, announced the settlement […]
Singapore is a major crypto hub. But for whom? In this primer, Malcolm Tan explains the island-state’s regulatory evolution and which groups are no longer in its favor.
Estonia revoked more than 70% of all crypto licenses last year. Its recently appointed anti-money-laundering chief wants to nullify the rest.
Traditional finance evolved over centuries while DeFi is coming into its own in a few years, writes Adi Ben-Ari of Applied Blockchain. Are its risks inevitable?
In this special Q&A, industry leaders tell Forkast.News why global stablecoin regulations can help catalyze crypto adoption.
As international regulators seek to implement oversight, crypto industry players say it is a positive sign that regulators are now considering including stablecoins in banking regulations.
Sri Lanka has formed a panel to recommend a regulatory framework covering the growth of digital banking, blockchain and cryptocurrency mining, the government has announced. Fast facts Developing an integrated system of digital banking, blockchain and cryptocurrency mining is crucial for Sri Lanka to keep up with its regional neighbors while expanding international trade, the […]
Notabene, a travel rule solution provider, this week announced that it has successfully completed travel rule test transactions between four Abu Dhabi Global Market (ADGM)-licensed firms and three crypto companies in Singapore. Fast facts In July, the Financial Action Task Force (FATF) — the global anti-money laundering (AML) and counter-financing of terrorism (CTF) standards-setter — […]
Making the most of cybersecurity awareness month, which marks its 18th year this October, the U.S. Department of Justice has announced it is launching a national cryptocurrency enforcement team targeting cybercrime. Fast facts During a virtual speech at the Aspen Cyber Summit on Wednesday, Deputy Attorney General Lisa Monaco said: “Cryptocurrency exchanges want to be […]
Officials are concerned that many investors may not be aware crypto trading is taxed in a similar way to share trading.
Top blockchain and crypto news: US leads charge in ramping up cybersecurity. Crypto fans crow as Facebook flops. China bears down on metaverses.
Brazil’s legislators are expected to discuss in the next few days a bill that seeks to establish a regulatory framework for cryptocurrencies, which may be a major step toward making Bitcoin a legal “payment currency” in the country if approved by the congress. Fast facts Bill 2.303/15, proposed by Federal Deputy Aureo Ribeiro, aims to […]
The Bank for International Settlements (BIS) Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) today published a joint report proposing that international standards for payment, clearing and settlement systems should be applied to “systemically important stablecoin arrangements.” Fast facts The BIS, CPMI and IOSCO report comes amid the […]
Crypto investors say virtual asset gains will be taxed on uneven grounds compared to stock capital gains.
Stablecoins combine the portability of crypto with the price stability of fiat currencies. But are they all that stable?
DeFi tokens like dYdX soared after China’s latest move to throttle crypto. Is this a short-term spurt or decentralized finance shifting into high gear?
As Chinese authorities take aim at crypto violations outside mainland borders, Forkast.News asks lawyers in the know: Who is in China’s line of fire?
Against the global tide of digital asset adoption, China’s harshest crypto ban yet heralds golden opportunities, writes Richard Byworth of EQONEX. Other governments should take note.