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UK FCA Releases Final Draft of Crypto Asset Framework: Custody Beyond 24 Hours and Automated Permissions to Be Regulated
Odaily News The UK Financial Conduct Authority (FCA) has released the final draft of its crypto asset framework. The new rules are scheduled to bring most crypto activities under the regulatory scope of the Financial Services and Markets Act by October 25, 2027. According to the proposal, any institution holding customer crypto assets for more than 24 hours or possessing the ability to revoke customer permissions will be considered a regulated custodian and must hold a full safeguarding license. Validators and node operators offering value-added functions such as staking rewards or reward reinvestment will lose their technical exemption. Furthermore, stablecoin issuers operating within the UK must control the entire lifecycle from issuance to redemption. Relevant institutions are required to submit authorization applications between September 30, 2026, and February 28, 2027.
Xiao Feng: Supporting the launch of compliant stablecoins marks a new phase for Hong Kong’s digital finance system
HashKey Group Chairman Xiao Feng stated in an exclusive interview with the Hong Kong Wen Wei Po that Hong Kong’s issuance of the first batch of stablecoin licenses represents a significant milestone for the local digital asset market. He noted that this move further accelerates Hong Kong’s tokenization of fiat currency and completes a critical piece of infrastructure—clearing and payment systems—for its digital financial ecosystem. Beyond facilitating cross-border payments and trade settlements, Hong Kong-issued stablecoins will also serve as core mediums of exchange for digital asset transactions. Xiao Feng added that, in the long term, their greater value lies in enabling micro, cross-border, and programmable payments among AI agents, while synergizing with real-world assets (RWA), on-chain clearing, and other use cases—thereby helping Hong Kong secure a more pivotal role in the global evolution of digital assets and digital finance. He also emphasized that HashKey’s trading platform will adhere to principles of openness and regulatory compliance, supporting stablecoin issuers and related products that meet supervisory requirements to jointly foster healthy ecosystem development. Currently, HashKey is actively engaging in substantive cooperation discussions with licensed stablecoin issuers and welcomes institutions planning to launch compliant stablecoins in Hong Kong to establish partnerships. As a core participant in Hong Kong’s digital asset market, HashKey will leverage its existing licensed and compliant framework, fiat on-ramps, and industry resources to support compliant stablecoins across listing, liquidity provision, payment scenario expansion, and the implementation and refinement of related applications—driving orderly industry ecosystem development.
Xie Jiayin’s Q1 Performance Review Transcript: Moving Beyond a Single Narrative—UEX Panoramic Strategy Has Been Validated
Xie Jiayin, Bitget’s Head of Chinese-speaking Markets, revealed significant progress across multiple core business areas. In terms of liquidity, Bitget ranked first globally among centralized exchanges (CEXs) in net fund inflows over the past seven days. Its BTC reserves grew 86% year-on-year to 36,700 BTC. According to TokenInsight’s report, Bitget’s derivatives and spot liquidity both ranked among the top two globally. Strategically, the platform continues advancing its transformation into UEX, a comprehensive exchange. This quarter, Bitget completed a full app redesign, fully launched CFD trading—supporting 79 assets with up to 500x leverage—and expanded its U.S. stock token offering to 263 tickers. Per CoinGlass data, Bitget leads the industry in U.S. stock futures open interest, and its CFD daily trading volume exceeded $6 billion. On the product front, Bitget launched IPO Prime, an innovative token sale platform. Its inaugural offering is preSPAX—a digital token mirroring the listing gains of SpaceX. Additionally, Bitget completed a three-layer reconstruction of its AI trading engine and introduced GetClaw, a cloud-based AI trading assistant enabling users to execute automated live trades via natural-language commands. For its VIP ecosystem, Bitget established a $5 million Protection Fund and distributed nearly 1,000 preSPAX tokens to VIP users in two free airdrops: the first round (760 tokens) was distributed on April 16, and the second round (190 tokens) will be distributed on April 20.
UK FCA Releases Final Draft of Crypto Asset Framework: Custody Beyond 24 Hours and Automated Permissions to Be Regulated
Odaily News The UK Financial Conduct Authority (FCA) has released the final draft of its crypto asset framework. The new rules are scheduled to bring most crypto activities under the regulatory scope of the Financial Services and Markets Act by October 25, 2027. According to the proposal, any institution holding customer crypto assets for more than 24 hours or possessing the ability to revoke customer permissions will be considered a regulated custodian and must hold a full safeguarding license. Validators and node operators offering value-added functions such as staking rewards or reward reinvestment will lose their technical exemption. Furthermore, stablecoin issuers operating within the UK must control the entire lifecycle from issuance to redemption. Relevant institutions are required to submit authorization applications between September 30, 2026, and February 28, 2027.
Xiao Feng: Supporting the launch of compliant stablecoins marks a new phase for Hong Kong’s digital finance system
HashKey Group Chairman Xiao Feng stated in an exclusive interview with the Hong Kong Wen Wei Po that Hong Kong’s issuance of the first batch of stablecoin licenses represents a significant milestone for the local digital asset market. He noted that this move further accelerates Hong Kong’s tokenization of fiat currency and completes a critical piece of infrastructure—clearing and payment systems—for its digital financial ecosystem. Beyond facilitating cross-border payments and trade settlements, Hong Kong-issued stablecoins will also serve as core mediums of exchange for digital asset transactions. Xiao Feng added that, in the long term, their greater value lies in enabling micro, cross-border, and programmable payments among AI agents, while synergizing with real-world assets (RWA), on-chain clearing, and other use cases—thereby helping Hong Kong secure a more pivotal role in the global evolution of digital assets and digital finance. He also emphasized that HashKey’s trading platform will adhere to principles of openness and regulatory compliance, supporting stablecoin issuers and related products that meet supervisory requirements to jointly foster healthy ecosystem development. Currently, HashKey is actively engaging in substantive cooperation discussions with licensed stablecoin issuers and welcomes institutions planning to launch compliant stablecoins in Hong Kong to establish partnerships. As a core participant in Hong Kong’s digital asset market, HashKey will leverage its existing licensed and compliant framework, fiat on-ramps, and industry resources to support compliant stablecoins across listing, liquidity provision, payment scenario expansion, and the implementation and refinement of related applications—driving orderly industry ecosystem development.
Related news
U.S. Navy Admiral States That Bitcoin’s PoW Technology Can Increase the Cost of Cyberattacks and Support National Security Strategy
According to Cointelegraph, Admiral Samuel Paparo of the U.S. Navy stated at a hearing before the Senate Armed Services Committee that Bitcoin is a “valuable computer science tool,” and that its proof-of-work technology holds significant applications in cybersecurity—increasing attackers’ costs and enabling the protection of data, information, and command signals, thereby supporting U.S. national security interests. Paparo noted: “Beyond the economic dimension, it has extremely important computer science applications in cybersecurity.” Earlier, in 2023, Jason Lowery of the U.S. Space Force expressed a similar view.
Xie Jiayin’s Q1 Performance Review Transcript: Moving Beyond a Single Narrative—UEX Panoramic Strategy Has Been Validated
Xie Jiayin, Bitget’s Head of Chinese-speaking Markets, revealed significant progress across multiple core business areas. In terms of liquidity, Bitget ranked first globally among centralized exchanges (CEXs) in net fund inflows over the past seven days. Its BTC reserves grew 86% year-on-year to 36,700 BTC. According to TokenInsight’s report, Bitget’s derivatives and spot liquidity both ranked among the top two globally. Strategically, the platform continues advancing its transformation into UEX, a comprehensive exchange. This quarter, Bitget completed a full app redesign, fully launched CFD trading—supporting 79 assets with up to 500x leverage—and expanded its U.S. stock token offering to 263 tickers. Per CoinGlass data, Bitget leads the industry in U.S. stock futures open interest, and its CFD daily trading volume exceeded $6 billion. On the product front, Bitget launched IPO Prime, an innovative token sale platform. Its inaugural offering is preSPAX—a digital token mirroring the listing gains of SpaceX. Additionally, Bitget completed a three-layer reconstruction of its AI trading engine and introduced GetClaw, a cloud-based AI trading assistant enabling users to execute automated live trades via natural-language commands. For its VIP ecosystem, Bitget established a $5 million Protection Fund and distributed nearly 1,000 preSPAX tokens to VIP users in two free airdrops: the first round (760 tokens) was distributed on April 16, and the second round (190 tokens) will be distributed on April 20.
UK FCA Releases Final Draft of Crypto Asset Framework: Custody Beyond 24 Hours and Automated Permissions to Be Regulated
Odaily News The UK Financial Conduct Authority (FCA) has released the final draft of its crypto asset framework. The new rules are scheduled to bring most crypto activities under the regulatory scope of the Financial Services and Markets Act by October 25, 2027. According to the proposal, any institution holding customer crypto assets for more than 24 hours or possessing the ability to revoke customer permissions will be considered a regulated custodian and must hold a full safeguarding license. Validators and node operators offering value-added functions such as staking rewards or reward reinvestment will lose their technical exemption. Furthermore, stablecoin issuers operating within the UK must control the entire lifecycle from issuance to redemption. Relevant institutions are required to submit authorization applications between September 30, 2026, and February 28, 2027.
B.AI Users Officially Surpass 800,000
According to official announcements, the number of users on the B.AI LLM service platform has officially surpassed 801,057. Built upon the foundational principles of “permissionless access, privacy protection, and instant response,” B.AI integrates leading global models via intelligent routing technology to enable anonymous access under a “wallet-as-identity” framework and native on-chain settlement. Beyond enhancing interaction efficiency, the platform is committed to advancing AI’s paradigm shift—from a “passive response tool” to an “independent economic entity.” By deeply empowering logical collaboration among sophisticated agents, B.AI is building a secure, barrier-free intelligent gateway for the AGI era.
Xiao Feng: Supporting the launch of compliant stablecoins marks a new phase for Hong Kong’s digital finance system
HashKey Group Chairman Xiao Feng stated in an exclusive interview with the Hong Kong Wen Wei Po that Hong Kong’s issuance of the first batch of stablecoin licenses represents a significant milestone for the local digital asset market. He noted that this move further accelerates Hong Kong’s tokenization of fiat currency and completes a critical piece of infrastructure—clearing and payment systems—for its digital financial ecosystem. Beyond facilitating cross-border payments and trade settlements, Hong Kong-issued stablecoins will also serve as core mediums of exchange for digital asset transactions. Xiao Feng added that, in the long term, their greater value lies in enabling micro, cross-border, and programmable payments among AI agents, while synergizing with real-world assets (RWA), on-chain clearing, and other use cases—thereby helping Hong Kong secure a more pivotal role in the global evolution of digital assets and digital finance. He also emphasized that HashKey’s trading platform will adhere to principles of openness and regulatory compliance, supporting stablecoin issuers and related products that meet supervisory requirements to jointly foster healthy ecosystem development. Currently, HashKey is actively engaging in substantive cooperation discussions with licensed stablecoin issuers and welcomes institutions planning to launch compliant stablecoins in Hong Kong to establish partnerships. As a core participant in Hong Kong’s digital asset market, HashKey will leverage its existing licensed and compliant framework, fiat on-ramps, and industry resources to support compliant stablecoins across listing, liquidity provision, payment scenario expansion, and the implementation and refinement of related applications—driving orderly industry ecosystem development.