Author: Journalist

High in the Himalayas, the tiny kingdom of Bhutan, long known for its pursuit of “gross national happiness”, has now set its sights on a new measure of contentment: cryptocurrency.In a move that has startled some of its neighbours and inspired global fintech champions, the “Land of the Thunder Dragon”, home to around 800,000 people, is using state-mined bitcoin to fund public salaries and lure a new wave of tourists.Bhutan became, in May, the world’s first nation to unveil a countrywide, government-backed system enabling visitors to pay for virtually every aspect of their stay using digital currencies – from visa…

KUALA LUMPUR: Canada is seeking to finalise a free trade deal with Southeast Asian nations as part of a push to expand into new markets, its top diplomat said, responding to the hefty tariffs imposed on it by the United States, its neighbour and largest trade partner.  Foreign Minister Anita Anand said Canada intends to continue a mutilateral trade relationship with the 10-member Association of Southeast Asian Nations. Canada believes the global economy will be driven by the Indo-Pacific region in the years ahead, she added. “The work is being done with alacrity to finalise the text of the free…

SINGAPORE: To help Singapore companies adapt to the new tariff environment, the government will be launching a Business Adaptation Grant in October, the Singapore Economic Resilience Taskforce (SERT) announced on Thursday (Jul 10). The grant will be capped at S$100,000 (US$78,000) per company and will have a co-funding element, said Minister for Manpower Tan See Leng. Revealing details of the new grant at a SERT press conference, which was held two days after US President Donald Trump started firing off letters on reciprocal tariffs to several countries, Dr Tan said local small and medium enterprises (SME) will likely be able to…

On-chain data shows the Binance Exchange Reserve has diverged between Bitcoin and the stablecoins. Here’s what this could mean for the market.Bitcoin & Stablecoin Exchange Reserves Have Decoupled On BinanceIn a CryptoQuant Quicktake post, an analyst has talked about the latest trend in the Binance Exchange Reserve for Bitcoin and the stablecoins. The “Exchange Reserve” here refers to an on-chain metric that keeps track of the total amount of a given asset that’s sitting on the wallets attached to a centralized exchange.When the value of this metric rises, it means the holders are making net deposits of the asset to…

A U.S. Justice Department logo or seal showing Justice Department headquarters, known as “Main Justice,” is seen behind the podium in the Department’s headquarters briefing room before a news conference with the Attorney General in Washington, January 24, 2023.Kevin Lamarque | ReutersFederal prosecutors have charged two men in connection with a sprawling cryptocurrency investment scheme that defrauded victims out of more than $650 million.The indictment, unsealed in the District of Puerto Rico, accuses Michael Shannon Sims, 48, of Georgia and Florida, and Juan Carlos Reynoso, 57, of New Jersey and Florida, of operating and promoting OmegaPro, an international crypto multi-level…

Companies targeted by sustainability-related proposals from investors significantly improve their ESG scores in the years that follow, according to a new academic paper. Researchers at German universities analysed more than 7,000 shareholder resolutions filed at around 1,000 firms between 2006 and 2020. They identified that 44% of those proposals made requests related to ESG or carbon. “In the first step, we focus on the first shareholder proposal a firm receives,” explained the authors, professor Timo Busch, Lisa Scheitza and professor Christian Klein, who all specialise in sustainable finance. “That is, we exclude any subsequent proposals, as they may affect firms…

Stay informed with free updatesSimply sign up to the Fintech myFT Digest — delivered directly to your inbox.Metaplanet, the Japanese hotelier turned bitcoin purchaser, has said it is in a race with rivals to snap up as much of the cryptocurrency as possible so it can leverage its holdings to buy cash-generating businesses.Simon Gerovich, chief executive, told the Financial Times his company was in “a bitcoin gold rush” that could provide the launch pad to expand into areas such as digital financial services.The group, currently the world’s fifth-largest corporate buyer of bitcoin, set out an ambitious plan last month to…

Donald Trump has revived his threat to hit major trading partners with steep “reciprocal” tariffs even as he granted a three-week reprieve for countries to negotiate trade deals with the US.The president on Monday sent letters to Japan and South Korea, both among the US’s biggest trading counterparts, saying the country would impose 25 per cent levies beginning on August 1. South Africa would be hit with 30 per cent tariffs, Trump said, while also announcing big levies on 11 other countries. The tariffs were roughly on a par with those Trump unveiled during his “liberation day” announcement on April…

A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., July 7, 2025.Jeenah Moon | ReutersStocks extended their losses from the previous session after President Donald Trump on Tuesday offered no exceptions to his Aug. 1 tariff start date.The S&P 500 traded marginally lower, while the Nasdaq Composite was around flat. The Dow Jones Industrial Average slipped 99 points, or 0.2%.Trump late Monday said the new Aug. 1 tariff deadline is “not 100% firm,” adding that “If they call up and they say something a different way, we’re going to be open…

More than 50 institutions, including major stablecoin issuers and crypto service providers, have received regulatory approval under the European Union’s Markets in Crypto-Assets (MiCA) framework within the first six months of the regulation.On July 7, Circle executive Patrick Hansen shared new data from the European Securities and Markets Authority (ESMA), revealing that 53 entities have secured MiCA licenses just six months after the framework came into force.The licenses enable these firms to “passport” their services across 30 European Economic Area (EEA) countries without needing additional approval in each jurisdiction.According to him, the spate of licenses marks a significant milestone for…