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The draft of South Korea's "Basic Law on Digital Assets," expected to be announced this month, will propose that a bank-led consortium be responsible for issuing the Korean won stablecoin. However, even if banks are responsible for issuance, exchanges and third-party payment platforms may still take on the circulation link connecting consumers and merchants, making user entry points and application scenarios key to competition.It is reported that the business integration between Upbit's operator Dunamu and Naver Financial could become an important variable. If related services are approved for integration, Dunamu could generate revenue through stablecoin transactions, while Naver Financial is expected to collect fees through merchant payments and settlements. A representative from South Korea's financial regulatory authorities pointed out that if stablecoins are used for electronic payments, related businesses may need to comply with the "Electronic Financial Transactions Act," and clarify obligations regarding the protection of recharged funds and settlement funds, transaction information management, and dispute resolution.

According to the Russian newspaper "Kommersant," Russia's PSB Bank has applied to the court to declare Igor Runets, the founder of the large cryptocurrency mining company BitRiver, personally bankrupt, seeking to recover approximately 773 million rubles.PSB stated that Runets had guaranteed loans for BitRiver's subsidiary BitRiver-B, and since the borrower failed to repay the debt on time, Runets must bear joint liability. In February of this year, Runets was placed under house arrest by the court for allegedly concealing funds or assets that could be used to recover unpaid taxes. Currently, some companies under the BitRiver group have also entered bankruptcy observation procedures.

According to The Kobeissi Letter, global central banks purchased over 321 tons of gold in the third quarter of 2026, marking the largest quarterly purchase since the fourth quarter of 2024 and the fifth largest quarterly purchase on record. The central bank's gold purchases increased by 8% compared to over 296 tons in the second quarter of 2026 and by 453% compared to the first quarter of 2026.China and Poland led the demand in the third quarter, increasing by over 63 tons and over 40 tons, respectively. As of this year, global central banks have purchased over 675 tons of gold, a 6% increase compared to the same period in 2025.

According to Solid Intel, the Financial Conduct Authority (FCA) of the United Kingdom has stated that UK banks can now submit applications to engage in cryptocurrency business before the implementation of the new cryptocurrency asset regulatory framework.The FCA mentioned that companies that submit applications before February 28, 2027, and meet specific requirements can continue to operate during the review period.

According to a report by the Financial Associated Press, International Monetary Fund (IMF) President Kristalina Georgieva stated that central banks need to consider the potential slowdown in AI-driven growth when evaluating measures to combat inflation.Georgieva mentioned at the IMF headquarters in Washington, D.C. that concerns about the economy's excessive reliance on the AI investment boom and overvalued assets are impacting global markets. Market conditions are volatile, and this situation is likely to persist. Against the backdrop of increasing risks to price stability, market fluctuations will complicate the work of central banks.

According to the Business Times, HSBC, Kinexys under JPMorgan, Mitsubishi UFJ Financial Group, Societe Generale-Forge under Société Générale, and Standard Chartered Bank have established a non-profit organization in Singapore called Global Layer One Organisation (GL1 Org) to promote the development and adoption of common standards and frameworks for tokenized financial markets.The organization will continue the work of the GL1 initiative by the Monetary Authority of Singapore, facilitating interoperability among different institutions, infrastructures, and jurisdictions.

Morgan Stanley announced that it has become one of the first banks to tokenize real-world assets after the launch of DTCC's Tokenization Service (DTS), having converted U.S. stocks and U.S. Treasury bonds into tokenized form.DTS was launched on October 28, allowing for the creation of tokenized representations backed by securities held in DTC to enhance liquidity, collateral liquidity, and capital efficiency.

According to the official website of the People's Bank of China, the Governor of the People's Bank of China, Pan Gongsheng, recently signed the "Renminbi/Omani Rial Bilateral Currency Swap Agreement" and the "Memorandum of Understanding on Strengthening Cooperation in Digital Payments and Central Bank Digital Currencies" with the Governor of the Central Bank of Oman, Ahmed Al-Mousaami, under the witness of the leaders of both countries.The scale of the swap agreement is 30 billion Renminbi/1.5 billion Omani Rials, with a validity period of 5 years. On the same day, both parties met to exchange views on topics such as bilateral economic and financial cooperation. The central bank stated that the agreement aims to deepen monetary and financial cooperation between the two countries, enhance the facilitation level of cross-border digital payments, and maintain financial market stability.

Arthur Hayes posted on the X platform that dollar liquidity is being replenished. Before the Federal Reserve and/or banks begin to expand their balance sheets, BTC is expected to weaken.

According to the Digital Renminbi Operation Management Center, in order to meet the demand for transaction vouchers in scenarios such as visa applications and loan requests, operational institutions such as China Merchants Bank, Postal Savings Bank, and Agricultural Bank have launched a wallet transaction printing service within the Digital Renminbi App. Users can apply online for transaction vouchers in PDF format, or download transaction details in Excel format for reconciliation verification. More operational institutions will launch this service in the App in the future.Users can enter the transaction record page of the wallet to access transaction printing, select the time range and filter transaction types before submitting the application. The results can be viewed in the application records. After a successful application, users can preview online, save to local, share to WeChat, or fill in an email to receive the file. The maximum selectable time span for transaction printing is 2 years, and the end date can be chosen up to 2 days prior to the current date. Successfully applied documents are retained for 7 calendar days.In addition to the Digital Renminbi App, users can also apply for transaction printing through branch counters, mobile banking, self-service devices, and other channels. Anonymous wallets must first complete real-name authentication upgrades before this service can be used. For inquiries, please call the Digital Renminbi customer service hotline at 956196, or directly contact the relevant operational institutions.

Due to the recent frequent hacker attacks, the Financial Services Commission of South Korea will urgently hold a seminar on responding to AI security threats in the financial industry on November 5, chaired by Chairman Lee Ik-yeon. The meeting will be attended by Financial Supervisory Service Governor Lee Chan-jin, Financial Security Institute Director Park Sang-won, and the presidents of the five major banks: KB Kookmin Bank, Shinhan Bank, Hana Bank, Woori Bank, and NH Nonghyup Bank. The focus will be on examining the implementation of security enhancement measures following recent cyber attack incidents in the financial industry.It is reported that this meeting coincides with the expiration of the terms of the five major bank presidents on December 31, and each financial group has initiated the successor selection process. Cybersecurity and internal control capabilities may become important variables in the year-end personnel arrangements of the five major banks.

Digital asset trading company QCP pointed out in its latest market report that the Federal Reserve, the European Central Bank, and the Bank of Japan all kept interest rates unchanged this week, but the market is still betting that the European Central Bank and the Bank of Japan may raise rates in December. The Federal Reserve maintained the federal funds rate at 3.75% to 4.00% with a vote of 10 to 2 during the October meeting. Federal Reserve Chairman Warsh did not commit to any rate adjustments for December and beyond.In addition, the Federal Reserve announced that there will be no rate votes at one meeting in 2027 and two meetings in 2028, which will only be used to discuss monetary policy strategy. QCP believes that the reduction in decision-making nodes may allow for the accumulation of more economic data between the two meetings, making the market more sensitive to data changes and increasing interest rate volatility and term premiums. The European Central Bank kept interest rates unchanged, citing that previous inflation data had not yet produced second-round effects, but the market still expects a possible rate hike in December. The Bank of Japan also kept interest rates unchanged and stated that inflation has reached the 2% target, with the market pricing in the possibility of a rate hike in December.In terms of technology stocks, shares of Alphabet, Amazon, Meta, and Intel fell after announcing quarterly results, as the market is concerned about current corporate earnings performance and future capital expenditure plans, particularly focusing on the pace and profitability of AI infrastructure investment. In the cryptocurrency market, Binance experienced a significant security incident on Friday morning, affecting approximately $6.3 billion in assets, which initially led to a decline in trading activity in the cryptocurrency market. QCP pointed out that the market gradually stabilized afterward, with participants seemingly viewing this incident as a company-level risk rather than a systemic event affecting the entire cryptocurrency market or infrastructure, with central bank policy uncertainty, concerns over technology companies' capital allocation, and the Binance security incident collectively driving the market to reprice.

Google has launched a Multi-Party Computation (MPC) custody platform aimed at banks and financial institutions to protect cryptocurrencies and tokenized assets. The platform disperses shares of private keys across different environments, preventing any single participant from having complete control over the private key; before transaction signing, it can also verify spending limits, approved addresses, and multi-party authorization requirements according to institutional rules.This service is currently in a private preview phase and is planned to be commercially available in early 2027. Google stated that several large financial institutions are participating in the testing; Alphabet has used this technology to protect its digital assets on Solana and Ethereum, but has not disclosed the list of held assets or testing institutions.

On the morning of October 29, the banking sector continued to rise during the trading session, with Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, and China Construction Bank all increasing by over 1%. The total market capitalization of the four major banks' A+H shares has historically surpassed 10 trillion yuan for the first time.Among them, the total market capitalization of Industrial and Commercial Bank of China is 2.94 trillion yuan, Agricultural Bank of China is 2.58 trillion yuan, China Construction Bank is 2.35 trillion yuan, and Bank of China is 2.15 trillion yuan.

According to The Block, the Office of the Comptroller of the Currency (OCC) is encouraging community banks in the United States to consider applying to become authorized stablecoin issuers under the GENIUS Act to expand their role in digital payments.

Tom Lee stated in an interview that approximately 99% of financial activities are still operating on traditional financial infrastructure, but this situation may create misleading short-term biases, causing investors and businesses to view cryptocurrencies as a niche area and underestimate the potential speed of transformation in the financial system.Tom Lee believes that the current dominance of traditional financial infrastructure does not mean that this pattern will be maintained in the long term. If financial activities gradually shift towards cryptocurrency infrastructure, institutions' reliance on the existing market structure may lead them to underestimate the speed of industry changes. He also warned that banks that have not established cryptocurrency business channels or formulated relevant strategies may face competitive disadvantages as cryptocurrency adoption increases.

According to Bloomberg, the prediction market platform Kalshi plans to launch exchange-traded futures contracts tracking the U.S. Consumer Price Index (CPI) and core CPI in December. They are promoting related products to major banks and hedge funds and have hired former Barclays trader Michael Ashton, known as "Mr. Inflation," to design the contracts and expand institutional clients.If launched, this would become a unique futures product directly tracking the CPI, helping institutional investors hedge against inflation and the risks of changes in Federal Reserve interest rates, and allowing Kalshi to further enter the traditional derivatives market dominated by the Chicago Mercantile Exchange (CME) and the Intercontinental Exchange (ICE). Kalshi has confirmed that it is developing CPI futures but has not disclosed specific launch details.

Several large banks in the United States have discovered unauthorized AI agents accessing customer accounts, with some agents attempting to perform independent operations. Morgan Stanley, Bank of America, JPMorgan Chase, Wells Fargo, and other banks are racing to curb the risks posed by these agents.Morgan Stanley has begun to block third-party agents from accessing accounts, while JPMorgan Chase, Bank of America, and Citigroup are also restricting access.