News linked to both this project and an event.
Odaily report: The California Department of Financial Protection and Innovation (DFPI) has submitted a comment letter to the U.S. Securities and Exchange Commission (SEC) opposing its "Regulation Crypto Assets" proposal, stating that the plan could weaken investor protection and limit state government review of issuance projects. DFPI Commissioner KC Mohseni said California opposes federal regulators undermining state-level regulatory authority and protective measures.The proposal would allow eligible issuers to raise up to $5 million over four years through a startup exemption; another crypto fundraising exemption would allow issuers to raise up to $75 million within 12 months. Relevant issuances would need to disclose project details, risks, and other information necessary for investor assessment, and some fundraisings would also require submission of financial statements and ongoing reporting.Federal securities laws still preserve states' authority to investigate securities fraud, deceptive practices, and illegal broker or dealer activities. Blockchain payments company Ripple, crypto exchange Coinbase, and exchange operator Nasdaq all support adjusting the proposal; the DFPI said its scam tracker list added nearly 200 crypto-related scams, an increase of 30% from the previous year. (Bitcoin.com News)
Odaily reports: The cryptocurrency ATM and counter-assisted cryptocurrency transaction ban in Albuquerque, New Mexico, USA has taken effect. Relevant businesses must immediately cease operations and remove their equipment by December 5.Albuquerque's virtual currency ordinance prohibits merchants, landlords, property owners, and retailers from operating or providing space for cryptocurrency ATMs; violators may face fines of $500 per day, have their business licenses revoked, and the entire business may be shut down.The ordinance does not restrict residents from legally holding, mining, or privately transferring cryptocurrency through internet exchanges and personal digital wallets. The U.S. Commodity Futures Trading Commission (CFTC) stated that reported cryptocurrency ATM fraud losses in 2025 have exceeded $388 million. (Bitcoin.com News)
Odaily reports: The GENIUS Act took effect on July 18, 2025, with the general applicability date being 18 months after enactment, or 120 days after the primary federal payment stablecoin regulator issues final implementing rules, whichever is earlier. The U.S. Treasury Department expects the general effective date to be January 18, 2027, with certain issuance and sales restrictions taking effect on July 18, 2028.The Office of the Comptroller of the Currency (OCC) published its primary implementation proposal in February 2026, and the Federal Reserve proposed rules on September 24, 2026 covering regulated issuers, reserves, capital, risk management, custody, and application procedures. An interim final rule effective September 30, 2026 has established the forms and procedures for certification of state regulatory regimes.Stablecoin issuers need to assess approval, prudential supervision, reserve, and redemption requirements; distributors and intermediaries need to analyze exchange, transfer, custody, and related financial services obligations. Companies holding stablecoins also need to review redemption channels, reserve arrangements, custody, freezing, and counterparty risks, and those accepting stablecoin payments need to distinguish between receiving payments for their own goods or services and transferring funds on behalf of others.Prospective issuers may choose the path of an approved subsidiary of an insured depository institution, a federal qualified issuer, or a state qualified issuer; state qualified issuers that meet the conditions and have outstanding issuance of no more than $10 billion may opt for state supervision. Payment stablecoin reserves must cover outstanding tokens at least one-to-one, and companies also need to map out fund flows, customer rights, compliance responsibilities, and product yield arrangements. Relevant issuers may not pay interest or yield solely by virtue of holding, using, or retaining payment stablecoins. (Bitcoin.com News)
According to updated information on the official website of the Hong Kong Securities and Futures Commission, the Hong Kong virtual asset trading platform license application submitted by Matrixport HK has been withdrawn. Relevant records indicate that Matrixport HK was removed from the list of virtual asset trading platform applicants on October 12, 2026, having initially submitted its license application on February 26, 2024. The stated reason for removal is "withdrawn." The operating company name used by the virtual asset trading platform Matrixport HK is "Flying Hippo Technologies Limited," and the Chinese name is not applicable.
Bitget CEO Gracy Chen posted a 12-hour progress report on the security incident on X, including:1. Affected assets include ETH, XRP (largest single-chain loss), BNB, AVAX, USDT, USDC, and other tokens. Affected chains include: Ethereum, XRP Ledger, Arbitrum, Avalanche, Optimism, BSC, and Base. All on-chain cold wallets have been confirmed secure and unaffected.2. All foundations of the affected chains have been contacted, and some foundations have confirmed the freezing of the hacker's wallet addresses.3. Based on IP behavioral characteristics and on-chain analysis, the attack methodology is highly consistent with known patterns of North Korean hacker groups. Relevant authorities have been notified, and full cooperation is being provided for a global investigation.4. Bitget Wallet (decentralized wallet) operates completely independently from Bitget exchange infrastructure, and this incident has no impact on it. Bitget Wallet assets are completely safe.5. Transparent disclosure regarding the platform's financial status: In addition to over $464 million in protection funds (all held in publicly verifiable wallet addresses), Bitget's own assets exceed $1 billion. User funds are covered at a 1:1 ratio, and all data can be verified on-chain.6. Regarding withdrawal recovery timing: The goal is to achieve full recovery as soon as possible. Once a specific time window is confirmed, an announcement will be made immediately. No commitment will be made to timelines that cannot be fulfilled.
According to reports from Asia Economic, the Cyber Investigation Unit of the Gangwon Regional Police Agency has filed cases against 26 users of the overseas prediction market platform Polymarket and transferred 18 of them to prosecutors. The cumulative betting amount among those involved is approximately 17.6 billion Korean won, with the highest individual amount reaching about 5.7 billion KRW. Police maintain that users betting on uncertain event outcomes using crypto assets are suspected of committing illegal gambling. The involved users counter that because Polymarket employs order book trading and supports closing positions before maturity, it should be treated as a crypto derivatives market. Relevant South Korean authorities had previously decided to block the platform, and subsequent judicial disputes will focus on whether its trading structure should be classified as gambling or derivatives investment.
Odaily News: The Central Bank of Brazil's new regulations require virtual asset service providers to meet capital, audit, anti-money laundering, and continuous reporting compliance requirements, with capital requirements reaching up to 37.2 million reais, approximately $7.2 million. Of the current approximately 300 related institutions, only 20 to 25 may qualify to apply for authorization, and only 10 are expected to receive licenses.Some small platforms have already ended or restructured their retail operations, including Bitnuvem, NovaDAX, Digitra, and Coinext, but these platforms did not attribute the relevant decisions to the new rules. Institutions that fail to meet the requirements will also face ongoing compliance costs, and some operations may find it difficult to sustain.Relevant institutions must apply for authorization by October 30, and those that do not apply will cease operations within 30 days and notify customers. Isabel Longhi, Head of Public and Regulatory Policy for Latin America at Ripple, stated that market consolidation is expected to occur as Brazil's crypto market matures, but the new rules will limit innovation in the short term. (Bitcoin.com News)
Odaily reports: The Bank of Italy (Banca d'Italia) has issued a notice requiring payment service providers (PSPs) and crypto asset service providers (CASPs) to continuously review financial transactions using procedures related to the Travel Rule, with no minimum amount threshold.Relevant institutions must verify the names of the originator and beneficiary when establishing a customer relationship, when the EU Council makes a decision, and at the time of each transaction, and cross-check them against lists of sanctioned individuals and entities. Automated systems must not set a minimum amount threshold that limits transaction review, and transfer delays may be accepted when necessary to strengthen sanctions screening. (Bitcoin.com News)
Odaily News – A Hyperliquid user's account was compromised through unauthorized access, with approximately 738,600 USDC transferred out and an additional 10,287 HYPE unstaked. The affected account is identified by a specific address, with some of the stolen funds flowing to an address suspected to be associated with Bitget. As of the time of verification, the 10,287 HYPE remained in the staking balance and had not yet entered the withdrawal queue. If the attacker proceeds to initiate cWithdraw, the affected assets would be further transferred after a 7-day waiting period. In two similar recent cases, staked assets were stolen a second time due to the lack of a user-triggerable emergency pause mechanism, resulting in losses exceeding $1.1 million. Relevant recommendations include introducing a Guardian or Recovery mechanism that users can pre-enable, which would only temporarily pause withdrawals, transfers, and authorization changes. The pause would expire automatically, and restoration would require a time lock and evidence review, with all actions recorded on-chain.
Odaily News: The Bangko Sentral ng Pilipinas (BSP), the Philippines' central bank, is proposing a 12-month suspension on accepting and processing new registration applications from Payment System Operators (OPS) to conduct a comprehensive review of relevant classifications and licensing frameworks.Applications submitted prior to the suspension will continue to be evaluated but will not be approved or denied until the suspension period ends. Unless otherwise authorized by regulators, entities must not engage in business activities that require OPS registration.Merchant acquirers regulated by the BSP that serve regulated Virtual Asset Service Providers (VASPs) must collaborate through direct merchant arrangements and implement risk-based controls such as enhanced due diligence, ongoing monitoring, and transaction and settlement limits. Relevant VASPs must be licensed, registered, or authorized by the BSP, the Philippine Securities and Exchange Commission, or other agencies.If approved, the draft will take effect 15 days after publication. The BSP is currently soliciting feedback. (Cointelegraph)
Gate has officially launched its US stock options trading service, initially covering 9 popular US stock targets, including Nvidia, Tesla, Apple, Meta, AMD, Micron, Amazon, and others, spanning hot sectors such as AI technology, semiconductors, electric vehicles, and cloud computing. Users can participate in US stock options trading by updating the Gate App to v8.35.0 or above.In terms of product experience, Gate's US stock options require no separate US stock account or margin account to be opened by users, and settle in USDT without involving physical stock delivery, making the trading and settlement process more direct. Meanwhile, the product initially supports intraday trading of US stocks and charges 0 platform fees and 0 options commissions, further lowering the barrier to participating in US stock options trading. Relevant third-party regulatory and clearing fees will be charged separately in accordance with applicable rules.This launch further completes Gate's global stock product ecosystem. Currently, Gate covers four core markets—US stocks, Hong Kong stocks, Korean stocks, and Japanese stocks—supporting over 12,800 stocks and ETFs, and offering services such as fractional share trading, stock dividends, and cross-broker transfers. With the addition of US stock options, users can not only participate directly in the stock and ETF markets but also gain more market participation choices around the future movements of popular US stock targets through strategies such as calls and puts.
Odaily News: At a meeting held at the White House yesterday with executives from the crypto industry and financial institutions, Trump urged Congress to pass a "fair version" of the Clarity Act (a crypto market structure bill) to establish a clearer regulatory framework for digital assets. Relevant data shows that the probability of the bill passing within the year has risen from 18% previously to 22%.
According to CoinDesk, Visa is seeking new stablecoin settlement and OTC trading partners to replace BVNK, which was previously acquired by Mastercard. Relevant product request documents indicate that Visa expects partners to hold cryptocurrency exchange licenses in the U.S., Canada, the UK, and Singapore, and to support multiple stablecoin conversion and settlement services, including handling settlement for the Open USD stablecoin project promoted by Stripe, Visa, and Mastercard.
Odaily News According to reports, multiple prediction markets are converging on pricing for the Fed's September meeting outcome: approximately 74% probability of holding rates steady, about 25% probability of a 25 basis point rate hike, and nearly 1% probability of a rate cut. Relevant Polymarket contracts have seen trading volume of $33.9 million; Kalshi, a prediction exchange regulated by the US Commodity Futures Trading Commission (CFTC), shows a 73.5% probability of holding rates steady, with related wagers nearing $10 million. Myriad, a prediction platform operated by Dastan, indicates approximately 71% probability for this option. The Fed's July meeting voted 9 to 3 to hold rates at 3.50% to 3.75%, with 3 committee members supporting a rate hike. The FOMC is scheduled to meet from September 15 to 16, with the statement planned for release on September 16; a survey shows nearly 70% of economists expect rates to remain unchanged for the remainder of 2026. (Decrypt)
According to The Guardian, the core report supporting Australia's teenage social media ban has been identified as containing multiple AI hallucination errors. The report was commissioned by the UK agency Age Check Certification Scheme (ACCS) at a cost of $3.48 million to test age verification technology. The Guardian's analysis revealed at least six errors in academic citations within the report, including links to non-existent papers and DOIs pointing to the wrong articles. ACCS initially denied using AI, then admitted to using ChatGPT to rewrite some paragraphs, but insisted that all citations were manually verified. Relevant Australian government departments have now intervened in the investigation, and experts warn that false citations could lead to incorrect decisions and damage public trust in government agencies.
Odaily Planet Daily Report: Arthur Hayes stated on the X platform that his article "Yen-quake" will introduce how Buffalo Bill Bessent plans to manipulate the dollar-yen exchange rate and restart the money printing press. Arthur Hayes said that over the past decade, the continued weakening of the yen has driven gains in global asset markets, but this situation will eventually come to an end. The yen is the lowest-valued currency globally and is also a point of contention among the United States, China, and Japanese everyday voters. There are three ways to resolve the yen issue, but the U.S. Treasury and Japanese politicians tend to favor only one of them. He will explain the operating mechanisms of each yen appreciation method and why the final option is the preferred approach; he will then discuss how to execute the third option at the political level. He stated that as dollar liquidity rises significantly, Bitcoin and cryptocurrencies will rally. The three options include: 1. The Bank of Japan sharply raises interest rates, causing the dollar-yen interest rate differential to disappear, at least on the short end. 2. The government persuades domestic institutions and public bodies such as GPIF to change their investment mandates, selling overseas assets and buying local assets. 3. Preferred option: The Japanese Ministry of Finance conducts repurchase transactions of its U.S. Treasury holdings with the Federal Reserve in exchange for dollars; it then sells dollars and buys yen in the foreign exchange market. Arthur Hayes said that before getting into the details, speculators should consider why yen appreciation is being discussed now. Over the past few decades, many have claimed that the yen was about to appreciate and trigger a global unwinding of carry trades. Two weeks ago, monetary policy officials from the United States and Japan conducted a joint exchange rate manipulation operation, though they euphemistically called it intervention. U.S. Treasury Secretary Buffalo Bill Bessent indicated a desire to raise the counterparty limit for the FIMA repo facility, enabling Japan's Ministry of Finance to use its massive asset reserves to defend the yen. Japan's Ministry of Finance also stated it is working closely with the United States to push the dollar-yen exchange rate lower. Relevant officials are signaling to the market their support for a shift in global currency relations, so the market must pay attention to this.
Odaily News, according to Bitcoin News monitoring, Chainalysis analysis of the Coldcard exploit involving over $38 million shows that the attacker deliberately targeted the highest-value wallets first, including one holding $1.8 million, indicating that victims had already been profiled before asset transfers began. Approximately $30 million was stolen in the initial 10 minutes, followed by around 500 wallets being drained within 25 minutes. Block's Clay Garrett stated that investigators also confirmed the attacker used a paid account with a well-known blockchain service provider to query victim addresses during the operation. The provider's internal logs match the request timestamps and sequence, but Block stated that no evidence was found suggesting the company knowingly assisted in the theft. Relevant information has been shared with authorities.
Recently, there have been numerous rumors claiming that "Xiaohongshu secretly submitted an IPO application before the end of June," but the application was hindered due to a former employee reporting its "listing compliance" issues. In response, Xiaohongshu stated that all currently circulating IPO-related information is untrue.
According to PYMNTS, the new crypto tax in Illinois, US will take effect on January 1, 2027. Law firm Jones Day stated that any brokers with business exposure in Illinois should initiate registration preparations as soon as possible and review existing record-keeping processes to meet upcoming compliance requirements.
the Australian Securities and Investments Commission (ASIC) has announced an extension of the "no-action" position for digital asset enterprises under the new licensing framework, overall extended to September 30, 2026. During this period, digital asset companies providing financial services can continue to apply for or modify Australian Financial Services (AFS) licenses, and a new operating model is permitted, allowing operations through authorized representatives or intermediary authorization arrangements of AFS licensees. The extension also applies to institutions that need to apply for a market license or a Clearing and Settlement (CS) license. Relevant entities must notify ASIC in writing of their intention to apply and conduct pre-meeting communications. ASIC stated that since the update of INFO 225 guidance in October 2025, it has received approximately 30 license applications from digital asset enterprises.