News linked to both this project and an event.
Under current law, operators conducting virtual asset business without proper registration may face up to five years in prison or a fine of up to 50 million South Korean won. Overseas operators targeting Korean residents are equally subject to this regulation. According to the FIU, these unregistered operators operate in a regulatory blind spot and may be exploited for money laundering. In June this year, a joint enforcement investigation by DAXA and compliant operators revealed that the average trading fees of the detained entities ranged from 1.5% to 10%, with the highest rate reaching approximately 62 times the average of Korea’s top five won-based exchanges (0.16%).
Odaily reports: The French Senate has passed a bill on first reading authorizing tax authorities to automatically exchange crypto asset transaction data with foreign counterpart agencies. The bill has subsequently been submitted to the National Assembly for review as Bill No. 3421 and still needs to complete the legislative process.The bill covers agreements on the exchange of crypto asset tax information and updates existing agreements on the exchange of financial account information. The crypto asset portion is based on the Crypto-Asset Reporting Framework (CARF) developed by the Organisation for Economic Co-operation and Development, which sets common standards for collecting and automatically exchanging crypto transaction information for participating jurisdictions.France has already implemented the EU's Eighth Amendment to the Administrative Cooperation Directive (DAC8) through its 2025 finance bill, requiring crypto service providers to report client identity and transaction data to tax authorities, which then share the information with the EU country where the user resides. French lawmakers are also discussing crypto tax adjustments in the 2027 budget. An amendment passed by the National Assembly on October 16 proposes taxing gains from conversions into specific fiat-pegged stablecoins starting January 1, 2027, but the measure has not yet become law. (Cointelegraph)
According to Crypto in America, the crypto industry organization Crypto Council for Innovation (CCI) and members such as Bitwise, Galaxy Digital, and Morpho submitted a 238-page report to the Securities and Exchange Commission (SEC), calling on regulators to clarify how existing securities laws apply to on-chain vaults (Vaults) and to establish a differentiated regulatory framework based on the degree of control human operators exert over user assets and investment decisions.
Odaily Report: PhotonPay has announced the completion of a $40 million Series C funding round, led by Blockchain Capital, with new investor SBI Group participating, and IDG Capital, GL Ventures, and Lightspeed Faction also joining. The project is a Hong Kong-based fintech company dedicated to developing a stablecoin-centric financial operating system, offering multi-asset wallets, global card issuance, and local clearing services, while advancing a financial execution layer for AI agents. As of August 2026, PhotonPay's annualized transaction volume reached $65 billion, and it has obtained 34 payment and financial licenses or authorizations across the Americas, Europe, and Asia, serving more than 200,000 enterprise clients with operations covering over 200 countries and regions.
According to CoinDesk, Utah has filed criminal charges against prediction market platform Kalshi (KalshiEX LLC) and co-founders Tarek Mansour and Luana Lopes Lara for illegally promoting gambling in the state. Prosecutors have filed a total of 14 counts, including one felony for alleged ongoing unlawful activity, 12 counts promoting online gambling, and one misdemeanor count for gambling. The prosecution is based on testimony from an undercover investigator with the Utah Attorney General's Office.
According to CoinDesk, Toronto-based Canadian lending institution APX Lending announced on Wednesday that it plans to launch Bitcoin-secured mortgages in the first quarter of 2027, enabling homebuyers to secure down payments or full purchase prices without selling their Bitcoin. The company has opened its waitlist and claims it will become Canada’s first regulated provider of Bitcoin-secured mortgages, though it has yet to disclose interest rates, repayment terms, maximum loan-to-value caps, and the triggers for additional collateral calls or liquidation.
Jin10 Data reports show that the Federal Reserve kept interest rates unchanged in October, with two officials supporting a 25 basis point rate hike, while the Bank of Canada delivered its first rate increase in over three years. Domestically, 800 billion yuan in new policy-based financial tools have been deployed. Microsoft Azure revenue grew by 48%, and Google's results fell short of expectations.
According to reports by Sifted, London-based UK AI startup 22one has reached a valuation of approximately $400 million, with backing from venture capital firms such as Sequoia Capital and General Catalyst. Founded by a former senior police officer, the company primarily develops AI tools for police departments. The report notes that the UK government is driving police modernization, providing a policy backdrop for the application of such technologies.
Odaily reports: Crypto analyst Darkfost posted that the Bitcoin Unified Sentiment Index has fallen back into negative territory, currently at -11 and continuing to decline, indicating that the previous extreme greed phase has passed and bearish market sentiment is beginning to accumulate.Darkfost noted that the current index reading remains within a relatively neutral range but clearly reflects deteriorating sentiment in the Bitcoin market. The index fluctuates between -100 and +100, combining the Fear and Greed Index and CoinGecko sentiment survey data, and is standardized based on a rolling one-year window.
Odaily Report: The South Korean government recently informed heads of crypto CEXs that if CEXs are classified as financial institutions under the proposed digital asset bill, it will consider imposing an education tax on them. Currently, South Korea's crypto trading and brokerage businesses are classified as information and communications businesses and are not required to pay the education tax. Banks, insurance companies, and securities firms pay the education tax based on operating revenue, with a rate of 0.5% on the first 1 trillion won and 1% on the excess.
Canada's Department of Finance has launched a 60-day public consultation on its stablecoin regulatory draft, with a deadline of December 23. The draft continues to prohibit issuers from paying interest to holders directly or through third parties, but allows rewards tied to transaction activity; non-bank issuers must back circulating fiat-pegged stablecoins 1:1 with equivalent reserve assets and hold reserves with eligible Canadian financial institutions. User redemptions should be completed within 3 business days, with fees not exceeding 1%; the related framework is expected to take effect around the end of 2027.
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.
Odaily reports: Bitcoin Core developers have merged a security policy adjustment. For vulnerabilities that can be easily discovered or rediscovered through simple large language model (LLM) prompts, the previous long-term confidential disclosure mechanism will no longer be used. The new rules allow developers to mark such issues as "easy to find" during vulnerability classification, then backport fixes to all still-supported versions and release them as soon as possible through minor version updates, along with a security advisory and some vulnerability details.Previously, Bitcoin Core scheduled disclosure based on vulnerability severity, with medium- and high-risk vulnerabilities usually only made public after the affected versions stopped being maintained. This adjustment stems from AI tools lowering the threshold for vulnerability discovery: in July this year, a Bitcoin Red Team composed of 16 developers used AI models to scan about 390 Bitcoin-related projects and recorded 4,962 findings in one day, of which 85 were listed as critical issues. Developers noted that continuing to extend the confidentiality period for such vulnerabilities can no longer effectively prevent attacks and instead delays the release of fixed versions; however, the new rules also mean that fixes may lack longer testing time. Currently, no vulnerability has been officially marked as falling into the "easy to find" category under the new rules. (CoinDesk)
The U.S. Securities and Exchange Commission (SEC) announced its inspection priorities for Fiscal Year 2027, continuing to conduct risk-based examinations of over 34,000 registered entities, focusing on investment advisers, funds, broker-dealers, clearing agencies, and other market participants. The SEC noted that Fiscal Year 2027 will emphasize investment adviser fiduciary duty and conflicts of interest, retail investor protection, private funds and private credit, broker anti-money laundering and trade surveillance, operational resilience, and cybersecurity. Emerging technologies and market infrastructure are also identified as key priorities. In particular, the SEC will monitor the impact of advanced technologies, including "superintelligence," on market operations, compliance, fraud prevention, and investor protection, while concurrently evaluating the risks associated with Treasury clearing reforms, tokenization, and related market structural changes.
According to The Wall Street Journal, SK Hynix has officially called off the U.S. IPO plan for its memory chip subsidiary Solidigm and terminated the concurrent pre-IPO financing. The company said the decision was primarily based on recent capital market conditions and stock price trends, and does not signal any changes in Solidigm's business outlook or investment needs.
According to Cointelegraph, Bitcoin Core developer Antoine Poinsot stated on Thursday on the bitcoin-dev mailing list that large language models (LLMs) have made certain software vulnerabilities extremely easy to rediscover. Maintaining long-term secrecy is already of limited value and instead delays the release of patched versions, prompting the team to update its vulnerability disclosure policy. The new policy dictates that "easily discoverable" vulnerabilities, which can be identified with minimal cost such as through simple LLM prompts, will be patched as soon as possible across all supported major versions, alongside the simultaneous release of security advisories. Other vulnerabilities will continue to be disclosed based on severity: low-severity vulnerabilities will be disclosed two weeks after the release of the major version containing the fix; medium-to-high-severity vulnerabilities will be disclosed two weeks after the end-of-life (EOL) of the last affected version, typically around one year after the patch release; critical vulnerabilities will be handled through a dedicated process.
The Blockchain Association has written to U.S. congressional leadership urging Congress to advance bipartisan digital asset tax legislation and launched a website to encourage the public to share their views with lawmakers. The association stated that approximately 67 million Americans hold or use digital assets, and existing tax rules have fallen short of meeting industry needs, thereby increasing compliance burdens for taxpayers. Its five proposed policy principles include: establishing a reasonable de minimis transaction exemption threshold; imposing taxes upon the disposition of assets derived from mining and staking rewards; protecting taxpayer privacy; levying taxes based on economic substance rather than technical form; and implementing well-calibrated wash sale rules that prevent abuse without penalizing the daily transactions of ordinary users.
Odaily reports: Israeli cybersecurity startup Mave has announced the completion of a $34 million funding round, including $28 million from a Series A led by Red Dot Capital Partners with participation from Lumir Growth Partners, following a previous $6 million seed round. Mave primarily develops AI agents for cybersecurity operations.Mave's AI agents can integrate information from enterprises' existing security systems, investigate alerts, filter out false positives, and execute actions approved by human teams. The company states that its agents record every step across thousands of workflows, providing security personnel with visibility into the agents' reasoning and actions.Mave was co-founded by Raziel Oren and Guy Eshel in 2025 and currently has 30 employees. The company plans to use the new funding to double its team size, with new positions mainly focused on market expansion and AI research. The company charges a fixed fee based on client size and requirements. (Business Insider)
Milan prosecutors stated that Italian authorities are carrying out arrests of 30 individuals suspected of operating a mafia-linked underground banking network. The network is suspected of transferring approximately €68 million abroad and using cryptocurrency to launder illicit funds. The operation has extended to Spain, where local police are executing European arrest warrants, and Swiss authorities are also seeking to arrest another suspect.Prosecutors said the network was based at a car rental company near Milan and used shell companies to issue fake service invoices, helping involved businesses in construction, logistics, and other industries reduce their taxable income. After the relevant companies paid via bank transfer, the network deducted commissions and returned the funds in cash. Funds in the shell companies' accounts were transferred to banks in Luxembourg, Lithuania, and Germany, and then moved through crypto exchanges into digital wallets suspected of being controlled by the organization. Investigators identified more than €110 million in fake invoices and found that the network also handled proceeds from drug trafficking and funds defrauded from victims of online crypto investment scams. (Bloomberg)
Odaily reports: According to Bitget's official announcement, the platform has announced the acquisition of Bangkok-based digital asset exchange and broker GMO-Z.com Cryptonomics (Thailand) Co., Ltd. The acquisition involves all shares of the target company held by shareholders including GMO Internet and its related subsidiaries.GMO-Z.com Cryptonomics (Thailand) holds a Thai digital asset exchange and brokerage license. The acquisition will leverage its existing compliance foundation and local market experience to strengthen Bitget's localized operations in Thailand and further enhance its strategic layout in the Southeast Asian market.Bitget CEO Gracy Chen stated that Thailand is an important digital asset market in Southeast Asia, and this acquisition will help Bitget establish a localized operational system, gradually expanding the application of its global trading services in the Thai market while complying with local regulatory requirements.