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Russia Advances Cryptocurrency Bill, Paving the Way for Criminal Penalties
Odaily News The Russian State Duma, the lower house of parliament, passed the first reading of the draft bill No. 1194918-8, titled "On Digital Currency and Digital Rights," on Tuesday. The bill aims to establish the core legal framework for digital currencies in Russia, directing cryptocurrency transactions to licensed intermediaries regulated by the Bank of Russia. According to the bill, Russian residents could purchase cryptocurrencies through approved intermediaries as early as July, while unlicensed platforms will be banned by July 2027.The bill introduces restrictions for retail investors, stipulating that only digital currencies with high liquidity are permitted for purchase. Relevant assets must meet criteria such as an average market capitalization exceeding 5 trillion rubles (approximately $66.66 billion) over the past two years, a daily average trading volume exceeding 1 trillion rubles (approximately $13.33 billion), and a trading history of at least five years. Retail investors are required to pass a test and have an annual purchase limit of 300,000 rubles (approximately $4,000) per single intermediary. Furthermore, the bill allows residents to purchase cryptocurrencies through foreign accounts but mandates reporting to tax authorities, while explicitly prohibiting the use of cryptocurrencies for payments.
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.
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Trading Protocol’s treasury attacked, suffering losses of approximately $398,000
According to on-chain analyst PeckShield (@PeckShieldAlert), the YieldCore-3rd-deal treasury under Trading Protocol was attacked, resulting in losses of approximately $398,000. The attack exploited a vulnerability in the contract—specifically, a missing caller permission check—which allowed the attacker to bypass the authorization mechanism and withdraw all funds from the treasury. Relevant on-chain transaction records have now been disclosed.
Russia Advances Cryptocurrency Bill, Paving the Way for Criminal Penalties
Odaily News The Russian State Duma, the lower house of parliament, passed the first reading of the draft bill No. 1194918-8, titled "On Digital Currency and Digital Rights," on Tuesday. The bill aims to establish the core legal framework for digital currencies in Russia, directing cryptocurrency transactions to licensed intermediaries regulated by the Bank of Russia. According to the bill, Russian residents could purchase cryptocurrencies through approved intermediaries as early as July, while unlicensed platforms will be banned by July 2027.The bill introduces restrictions for retail investors, stipulating that only digital currencies with high liquidity are permitted for purchase. Relevant assets must meet criteria such as an average market capitalization exceeding 5 trillion rubles (approximately $66.66 billion) over the past two years, a daily average trading volume exceeding 1 trillion rubles (approximately $13.33 billion), and a trading history of at least five years. Retail investors are required to pass a test and have an annual purchase limit of 300,000 rubles (approximately $4,000) per single intermediary. Furthermore, the bill allows residents to purchase cryptocurrencies through foreign accounts but mandates reporting to tax authorities, while explicitly prohibiting the use of cryptocurrencies for payments.
Sources say Iran will not attend US-Iran talks on the 22nd
Odaily News Iran's negotiation team has informed the United States through Pakistani intermediaries that, for various reasons, they will not travel to Islamabad, Pakistan on the 22nd, and there is currently no possibility of participating in the talks. Relevant sources pointed out that after Pakistan intervened in mediation and requested a ceasefire from the United States, Iran accepted the ceasefire agreement and agreed to hold follow-up negotiations to end the war based on a ten-point framework it proposed, which had been accepted by the United States. Pakistan also explicitly announced that the United States had accepted this framework. However, within days, the United States began to renege on its commitments. Furthermore, during the first round of talks held in Islamabad, the United States put forward many excessive demands, which in fact violated the initial framework, leading to a deadlock in that round of negotiations. Sources also stated that in the exchanges over the past few days, the US side has insisted on its excessive demands, which infringe upon the absolute rights of the Iranian people, and the exchanges between the two sides have not made any substantive progress. Therefore, Iran has finally announced today that under these circumstances, participating in the talks is a waste of time, as the United States is preventing the achievement of any substantive agreement.
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.