News linked to this event type.
Payward, the parent company of Kraken, has received an in-principle approval from Kazakhstan's AFSA. It plans to provide digital asset trading, investment trading, and custody services through Payward Kazakhstan at the Astana International Financial Centre. Upon securing the final license, local users will also gain access to Kraken's global order book and major market liquidity.
The South Korean government and the Bank of Korea plan to revise the Foreign Exchange Transactions Act within this year to bring stablecoins under payment tool regulation and establish a monitoring framework for virtual assets. The Bank of Korea said it is coordinating with the government on regulatory measures for cross-border digital asset transactions and will build an international cooperation framework to combat illegal digital asset transactions. South Korea is also drafting the Basic Act on Digital Assets, covering the exchange licensing system and stablecoin issuance rules; Lee Eog-weon, chairman of the Financial Services Commission, said on Thursday that discussions on the bill are nearly complete and the government will push for its introduction as soon as possible.
Odaily Report: Investment management firm CMCC Global plans to tokenize its two digital asset funds, Crest and the Liberty Bitcoin Accumulation Fund (LBAF), issuing and managing tokens through Tether's Hadron infrastructure, with distribution by Bitfinex Securities under El Salvador's digital asset framework. Both funds adopt a fund-of-funds structure: Crest is denominated in USD and aims to outperform U.S. Treasury yields; LBAF is denominated in Bitcoin and targets an annualized net return of 8% to 12% (in Bitcoin terms), with no guaranteed payments. The tokens represent economic rights to the underlying fund shares, are minted in proportion to the corresponding shares, and are burned upon redemption; issuance requires identity verification and anti-money laundering review, and is restricted to whitelisted addresses only. BTCS S.A. has agreed in principle to provide a three-digit Bitcoin-anchored allocation, with the specific size undisclosed; Crest is priced at $10 per token, and LBAF is priced at 0.0001 BTC per token.
Odaily reports: The UK Financial Conduct Authority (FCA) has published draft guidance CP26-36, stating that crypto trading apps may constitute "arranging crypto trading" if they select trading venues or execution paths for clients based on price, liquidity, cost, or execution speed, and would require authorization under new rules taking effect on October 25, 2027. Modifying trading instructions, deciding execution timing, or selecting routes based on counterparty risk and expected outcomes all count as indicators of "discretionary involvement"; automated decision-making does not exempt developers or operators, while interfaces that purely relay orders without affecting execution may qualify for the technical services exemption. Existing UK crypto firms must submit applications between September 30, 2026 and February 28, 2027; the consultation period runs until November 18, and the FCA aims to publish the final guidance in January 2027, though the consultation paper states the timing as spring.
Peter Hughes, founder and CEO of Apex Group, said that if the United States continues to delay crypto legislation or fails to establish a clear and certain regulatory framework for digital assets, related business could flow to Asia, the Middle East, and Bermuda, and these jurisdictions may have an opportunity to fill the regulatory vacuum left by the U.S. Hughes believes Europe will not benefit as a result, and noted that the Markets in Crypto-Assets Regulation (MiCA) has evolved slowly and is relatively restrictive. The U.S. CLARITY Act is intended to clarify federal regulatory rules for digital assets and delineate the regulatory responsibilities of the SEC and the CFTC; in September, the bill failed to secure the 60 votes needed to advance in the Senate due to disputes over ethics provisions, stablecoin rewards, and other issues.
Odaily reports: The U.S. Office of the Comptroller of the Currency (OCC) has issued the final stablecoin rule under the GENIUS Act, set to take effect on January 18, 2027. The rule removes the clause that automatically extended the redemption period to 7 calendar days once demand exceeded a threshold, and defines "prompt redemption" as the issuer initiating payment or crediting the issuer's account upon request; bank settlement is a separate subsequent step. The general processing deadline for eligible redemption requests is capped at 2 business days, excluding weekends and federal holidays; when redemption requests for a single brand exceed 10% of its circulating supply within 24 hours, the issuer must notify the OCC supervisory office within 24 hours, with the regulator having discretion over whether to extend the processing time, and issuers may not delay redemptions citing onboarding process deficiencies. The revised confidential PS-01 report will track unpaid tokens, average redemption duration, and redemption amounts exceeding 2 business days; the first weekly and quarterly reports are due on January 25 and March 31, 2027, respectively, both pending OMB approval.
Odaily Report: On October 23, the US SEC's Division of Examinations released its examination priorities for fiscal year 2027, listing tokenization for the first time as a high-risk area for clearing agency examinations, and in the Regulation SCI section placing it alongside securities tokenization, superintelligence, extended trading hours, and quantum computing as emerging trends for market system review. Examination Director Keith Cassidy stated that markets are evolving rapidly and examination programs must evolve in tandem; Chair Paul Atkins said examinations are an important tool for promoting compliance and protecting investors.
the Monetary Authority of Singapore has announced the expansion of the BLOOM cross-border digital currency settlement initiative, with Bank Negara Malaysia and the Bank of Thailand joining as policy-making members. BLOOM is a public-private partnership initiative covering regulated stablecoins and tokenized deposits, with participants including Mastercard, Visa, Nium, Ripple, Circle, Coinbase, Airwallex, Maybank, Monee, Shopeepay, and the World Bank Group. The initiative will study the acceptance of different forms of currency, inter-institutional contracting, settlement, and system connectivity, and will implement identity verification and sanctions screening through programmable controls, with applications spanning payments, corporate treasury, and trade finance.
Odaily reports: Arjun Sethi posted that Kraken's inquiries to Monero (XMR) buyers regarding employer, source of funds, and purpose of holding were improper. The relevant inquiries have been withdrawn, customers are not required to provide information, and the question about the purpose of holding has been canceled. Kraken still retains source-of-funds verification, and XMR remains listed for trading; Kraken does not accept XMR deposits, users in the European Economic Area and the United Kingdom cannot trade, and users in Canada and Australia cannot deposit, hold, or trade.
Odaily reports: Regarding the previous LIBRA token scandal, as an Argentine judge dismissed the criminal investigation against Milei, the matter has come to a close. In response, Milei published a lengthy post on X lamenting: "Now who will compensate me for the lies, slander, and defamation I have suffered over the past year, eight months, and nine days—lies, slander, and defamation whose sole purpose was to tarnish my good name and honor?Justice has once again set things right, exposing that massive political and media operation whose only goal was to undermine the authority of the presidency for the purpose of a political coup.I celebrate the normal functioning of the institutions of the Republic, and a judicial system that has not been dragged down by the clownish performances of the usual operators.This lawsuit was politically exploited, not only by certain factions of the opposition, who thought they could overthrow us to restore their privileges, but also by other forces, such as the La Nación group and its henchmen, to extort the government in exchange for evading their tax obligations.To those paid journalists, mercenaries of lies, and people like Hugo Alconada Mon, Carlos Pagni, Paulino Rodríguez, Natalia Volosin, Novaresio, and all others who exploited this topic: now who is responsible for all the garbage you spread?The truth always prevails in the end. Long live freedom, damn it...!!!"
court records show Argentine federal judge Marcelo Martinez de Giorgi has dismissed, at the request of prosecutors, a criminal investigation against Argentine President Javier Milei and his sister Karina Milei related to the Libra cryptocurrency scandal. In his ruling, the judge stated that the reported events do not constitute a statutory offense and failed to substantiate any deception of criminal significance.In February 2025, following Trump's issuance of TRUMP, Argentine President Milei posted on X platform mentioning the newly issued Libra, stating it would be used to fund small businesses and startups, and shared a purchase link, after which the token price rose rapidly. Hours later, Milei deleted the post, Libra's price plummeted, and most investors lost the majority of their funds. He previously denied promoting the token, stating he acted in good faith, and has not yet responded to the news of the case dismissal. (BBC)
According to Dune data, nominal trading volume for crypto-related event contracts on Kalshi and Polymarket reached $2.7 billion last week, setting an all-time high. Bitcoin short-term up/down contracts were particularly active, with Kalshi's 15-minute Bitcoin price prediction contracts seeing single trades exceeding $1 million, and some traders using trading bots to capture opportunities in the final seconds before contract expiration.Cryptocurrency has now become the second-largest trading category on both platforms after sports. Crypto trading platforms including Coinbase, Crypto.com, Gemini, and Kraken are expanding their businesses by applying for relevant licenses or partnering with prediction markets. Meanwhile, declining spot trading volume on centralized exchanges is also pushing crypto platforms to seek business diversification. However, as multiple U.S. states mount legal challenges against sports-related prediction contracts, the regulatory trajectory could also affect the industry's development. (Bloomberg)
Odaily Report: U.S. Senator Richard Blumenthal has launched an investigation into stablecoin issuer Tether's payment of approximately $6.3 million to consulting firm Nxum. Nxum was co-founded by former White House cryptocurrency advisor Bo Hines, who holds a one-third equity stake in the company.On October 22, Blumenthal sent a letter to Tether CEO Paolo Ardoino requesting contracts between the two parties, cryptocurrency payment records, wallet addresses, and communications. Tether is alleged to have paid Nxum $415,000 per month since May 2025 for strategic communications, lobbying, and public relations services.Blumenthal noted that while serving as Executive Director of the White House Digital Assets Advisory Council, Bo Hines still held equity in Nxum and coordinated affairs with the company through encrypted messaging applications. He also questioned whether Tether routed cryptocurrency payments through marketing firm Notorious before distributing funds to Nxum shareholders.Tether began contracting directly with Nxum after August 2025 and hired Bo Hines to lead its newly established U.S. operations. Blumenthal has demanded that Tether, Nxum, and related individuals respond by November 6. The allegations have not yet resulted in any legal determination, and Tether has not publicly responded. (Bitcoin.com News)
According to Forbes, Jarod Koopman, head of the Criminal Investigation Division at the Internal Revenue Service (IRS), disclosed that the agency is preparing major reforms to the Voluntary Disclosure Program (VDP), with new rules expected to be published by the end of November aimed at lowering the costs for taxpayers voluntarily disclosing historical tax non-compliance. Under the proposed reforms, the IRS plans to significantly reduce current VDP penalties and cut the case processing timeframe from previously potentially over a year to a maximum of 120 days. The agency is also considering implementing installment payment plans and compromise settlement mechanisms to assist taxpayers unable to settle their tax liabilities in a lump sum. Regarding digital assets such as cryptocurrency, Koopman made it clear that the IRS will not create a standalone voluntary disclosure program; related tax compliance matters will be processed uniformly under the existing framework. As of now, the exact penalty reduction amounts and implementation details of the new rules remain undisclosed.
Argentine Federal Judge Marcelo Martínez de Giorgi ruled to terminate the criminal investigation into the LIBRA meme coin incident, finding insufficient evidence of fraud. The ruling involves Argentine President Javier Milei, his sister Karina Milei, and U.S. businessman Hayden Davis, who claims to be an advisor for the LIBRA issuance.
Odaily Report: The U.S. Internal Revenue Service (IRS) plans to adjust its voluntary disclosure program before December, reducing tax violation penalties and speeding up processing, with a goal of resolving cases within 120 days after taxpayers complete required filings. The adjustment plan does not establish a dedicated process for crypto assets; related matters will follow existing voluntary disclosure procedures. The IRS is also considering installment payment and compromise settlement options, and specific penalty amounts have not yet been announced.Jarod Koopman, head of the IRS Criminal Investigation division, said the current process can take a year or longer and is mainly aimed at taxpayers who intentionally violate tax law and may face criminal prosecution, not those with unintentional filing errors.A separate voluntary disclosure proposal for crypto asset taxpayers is under review, covering unintentional filing errors. Section 502 of the proposed Digital Asset Tax Certainty Act would establish a violation correction procedure and specify penalties; the bill passed the House Ways and Means Committee in September. (Cointelegraph)
According to Zon monitoring, available information indicates that this security incident may have originated from a Day 0 vulnerability in Initia's MoveVM built on Cosmos SDK. The vulnerability allowed attackers to mint additional tokens on Initia L1, but does not affect the native token INIT. Before the blockchain was halted, the attacker had already transferred out approximately $2.7 million worth of AUSD, ETH, and USDC through additional minting and cross-chain transfers. The team is still investigating, and the subsequent impact and further details remain to be confirmed.
Initia officially announced that due to a security incident, Initia L1 and its Rollups have been suspended. The team is working with security teams, validators, and exchanges to investigate the incident and determine the scope of impact. Initia stated that verified information will be released through official channels going forward, and reminded users to be wary of unofficial links, messages, and unverified claims circulating during the incident.
The International Criminal Police Organization (Interpol) reported that Operation Serengeti III was conducted across 21 countries from June 29 to August 31, 2026, resulting in the arrest of 1,462 suspects, the takedown of 10,909 malicious websites, and the seizure of over $105 million in illicit funds. Investigations also confirmed that 65,929 victims were targeted by cybercrime syndicates, with associated losses exceeding $385 million. The operation primarily targeted cyber fraud, ransomware, business email compromise, online scams, and digital extortion. In specific cases, Ugandan police dismantled two transnational fraud rings and arrested 365 foreign nationals; Angolan authorities shut down two illegal cryptocurrency mining farms, arresting nine individuals and confiscating more than 2,000 mining rigs; and another case in Nigeria involved over $2.4 million in suspected illicit proceeds, a significant portion of which was laundered through cryptocurrency transactions.
Odaily reports: YZi Labs has announced the launch of its inaugural Atlas Scout Program, recruiting four students from Stanford University, Yale University, University of California, Berkeley, and University of California, Los Angeles to participate in early-stage project discovery and investment research in the Web3, AI, and biotech sectors. The program will provide intentional investment allocations of up to $1 million for relevant investment opportunities and will open up its ecosystem network of more than 300 portfolio companies. Participants can organize campus events, identify potential projects, and receive mentorship in project research, due diligence, and investment judgment. Eligible startup teams will also have the opportunity to connect with the EASY Residency program or discuss investment partnerships with YZi Labs.