supervision

The White House announced the establishment of an independent committee responsible for overseeing the implementation of the artificial intelligence agreement and receiving reports from the operational control team as well as internal and external auditors and evaluators.

The Hong Kong Accounting and Financial Reporting Council (AFRC) announced the signing of a new Memorandum of Understanding with the Hong Kong Securities and Futures Commission, expanding regulatory cooperation beyond the oversight of financial reporting and related auditing work of listed entities.This includes the financial and compliance reporting of licensed corporations, SFC-licensed virtual asset service providers, SFC-recognized funds, and registered open-ended fund companies, as well as the related auditing and assurance work conducted by their auditors.

According to Ledger Insights, the latest statistics on bank cryptocurrency activities for the second half of 2025 released by the Basel Committee on Banking Supervision (BCBS) show that the overall prudent exposure of banks remains flat, but the composition of assets has changed significantly.In the Americas, the proportion of BTC in bank cryptocurrency exposure dropped sharply from 75.8% to 44.2%, while ETH rose to 38.5%, and SOL and XRP accounted for 7.8% and 5.6%, respectively. Other regions have shifted more towards stablecoins. Customer-related activities grew significantly, with a 93% increase in the Americas to 6.4 billion euros, while Europe saw a 25% decrease to 1.9 billion euros.

Yushu Technology Co., Ltd. has recently undergone a business change, with the registered capital increased from 364 million yuan to 404 million yuan; the registration authority has changed from the Market Supervision Administration of the Hangzhou High-tech Industrial Development Zone (Binjiang) in China to the Market Supervision Administration of Zhejiang Province, China.

The U.S. Commodity Futures Trading Commission (CFTC) has jointly issued staff guidance from its divisions of Market Oversight, Clearing, and Risk, addressing regulatory expectations and compliance requirements for the increasingly prevalent 24/7 trading, clearing, and settlement models, encouraging market innovation while ensuring compliance.The guidance emphasizes that regulated trading platforms, swap execution facilities, derivatives clearing organizations, and futures brokers must comply with the Commodity Exchange Act (CEA) and related regulatory rules when expanding around-the-clock trading, and must proactively assess risk management and operational arrangements.The CFTC points out that the adaptability of different asset classes to 24/7 trading varies, with derivatives related to crypto assets being more suitable for around-the-clock trading and clearing due to their digital infrastructure and global continuous trading characteristics; whereas traditional commodity derivatives like agricultural products may not be suitable for full 24/7 operation due to their regional and trading structure characteristics.CFTC staff stated that relevant institutions should ensure compliance with regulatory frameworks and risk control requirements while promoting the continuous evolution of the market to support "responsible market innovation."

According to a Reuters report, Carolyn Rogers, Senior Deputy Governor of the Bank of Canada, stated during her testimony in the Senate that the design work for Canada's stablecoin regulatory framework is fully underway and is expected to be launched in mid to late 2027.She noted that the previously planned target for early 2027 was rather ambitious.

The IRS is intensifying its regulatory oversight of tax compliance for crypto assets as the April 15 filing deadline approaches, with related enforcement actions continuing to strengthen.Reports indicate that about 61% of U.S. crypto investors are still unaware of the new reporting rules for the 2025 tax year, and approximately 52% of investors are concerned about facing penalties due to reporting errors. The new rules require brokers to report digital asset trading income to the IRS for the first time using Form 1099-DA, but the cost basis still needs to be calculated by the investors themselves.Industry insiders state that the current regulatory environment has become stricter, and investors need to maintain complete records of transactions and wallet data, and report accurately to avoid potential legal risks.

According to Hainan Daily, the Hainan Provincial Local Financial Supervision Administration has issued a risk warning regarding trading venues. Recently, the Hainan Provincial Local Financial Supervision Administration learned from relevant channels that certain entities are promoting under names such as "Hainan International Data Asset Exchange," "Hainan Data Exchange," and "Hainan Marine Exchange," claiming to legally conduct businesses related to RWA (Real World Assets) and RDA (Real Data Assets).Market entities are conducting business in violation of regulations under the guise of trading venues without approval, which is suspected of illegal financial activities and endangers public property safety. In response, the Hainan Provincial Local Financial Supervision Administration has the following risk warnings:Currently, there is no approved establishment of the "Hainan International Data Asset Exchange" within our province. The establishment of trading venues in our province must be approved by the provincial government (the list of approved trading venues can be found in the appendix). Without approval from the competent authorities, market operators are not allowed to use terms such as "exchange" or "trading center" in their registered names, nor can they engage in activities related to trading venues.The People's Bank of China, the China Securities Regulatory Commission, and eight other departments jointly issued a notice on further preventing and addressing risks related to virtual currencies, clearly stating that the regulation of the tokenization of Real World Assets (RWA) follows the principle of "strictly prohibited domestically, strictly regulated overseas." It emphasizes that conducting tokenization activities of Real World Assets (RWA) within the country, as well as providing related intermediary and information technology services, is suspected of illegal activities such as unauthorized issuance of token vouchers, unauthorized public issuance of securities, illegal operation of securities and futures businesses, and illegal fundraising, which should be prohibited.We urge investors to establish a correct investment perspective.

Former Alameda Research CEO Caroline Ellison was transferred to community supervision on October 16 after serving approximately 11 months in the Federal Correctional Institution in Danbury, Connecticut. This means she is currently under house arrest or in a halfway house.Ellison was previously sentenced to two years in prison for her involvement in Sam Bankman-Fried's fraud case and testified as a key witness during Bankman-Fried's trial. Federal Bureau of Prisons spokesperson Randilee Giamusso stated that the specific location of her community supervision will not be disclosed for privacy, safety, and security reasons. Ellison's expected release date is February 20, 2026.

According to Yonhap News Agency, Financial Services Commission Chairman Lee Bok-hyun stated at the "19th Anti-Money Laundering Day" ceremony held by the Financial Intelligence Analysis Institute that the regulatory scope of the "travel rule," known as the "real-name system for cryptocurrency," will be expanded to transactions below 1 million won (approximately 680 USD).He emphasized that there will be a strict crackdown on money laundering activities conducted through virtual asset transactions, prohibiting virtual asset transactions with overseas exchanges that have a high risk of money laundering. In addition, a rigorous review mechanism will be established to comprehensively examine the criminal records, financial status, and social credit of major shareholders of virtual asset businesses.

The Basel Committee on Banking Supervision is re-evaluating the cryptocurrency regulatory framework originally set to be implemented next year, with a focus on stablecoin-related provisions.The previous version of the rules was widely viewed by the industry as a warning for banks holding crypto assets, as it required a high capital charge for related assets. Sources revealed that major jurisdictions, including the United States, the United Kingdom, and the European Union, have not committed to proceeding with the original plan and are inclined to reassess the relevant standards before a broad global implementation, to ensure the feasibility and coherence of regulatory measures.

ChainCatcher news, according to Caixin, the Shanghai Municipal State-owned Assets Supervision and Administration Commission held a central group study meeting on July 10, focusing on the development trends and response strategies of cryptocurrencies and stablecoins.He Qing, Secretary of the Party Committee and Director of the Municipal State-owned Assets Supervision and Administration Commission, pointed out the need to fully implement the spirit of the 12th Municipal Party Committee's 7th Plenary Session, adhere to innovation-driven development, maintain a keen awareness of emerging technologies, and strengthen research and exploration of digital currencies.We should adhere to the integration of production and data, exploring the application of blockchain technology in areas such as cross-border trade, supply chain finance, and asset digitization.We should maintain a proactive attitude, enhance our strategic agility and initiative, further promote the deep integration of technology, finance, and industry, better leverage the important role of state-owned assets and enterprises in technological innovation, industrial control, and security support, and make new and greater contributions to the construction of Shanghai's "Five Centers."

ChainCatcher news, the Securities and Exchange Commission (SEC) of Thailand has announced the launch of a public consultation on new regulations for the listing of digital assets, with the opinion collection period lasting until July 21, 2025.The new regulation proposal allows exchanges to list digital tokens issued by themselves or their affiliates, while requiring stricter information disclosure to prevent insider trading. The new rules also require the disclosure of information related to personnel associated with the token issuer and the marking of warning symbols in the reporting system to enhance market supervision.

ChainCatcher news, according to CoinDesk, earlier today the U.S. Senate confirmed that Federal Reserve Governor Michelle Bowman has been promoted to Vice Chair for Supervision. The new Vice Chair will have a say in both the banking access for cryptocurrencies and the issuance of stablecoins. The position of Vice Chair for Supervision was established after the 2008 global financial crisis to help the Federal Reserve focus on its regulatory responsibilities, distinct from its more well-known role in managing U.S. monetary policy.The banking sector has always been a pain point for the cryptocurrency industry. Previously, the Federal Reserve and the other two major banking regulators took a highly cautious approach to the crypto space, but in April of this year, they lifted previous restrictions on banks providing services to the crypto industry. The Federal Reserve's potential regulatory role for stablecoin issuers remains unclear, and related regulatory legislation is still under discussion.Republican lawmakers are working to exclude the Federal Reserve from stablecoin regulatory responsibilities, but the latest legislation under consideration still stipulates that the Federal Reserve will regulate stablecoins issued within banks and assess whether foreign regulatory bodies are adequately equipped to handle issuers outside the U.S.

ChainCatcher news, encrypted journalist Eleanor Terrett posted on the X platform that the U.S. Senate Banking Committee has voted to approve the nomination of Michelle Bowman as the next Vice Chair for Supervision at the Federal Reserve (13 to 11), and her nomination has now been submitted to the full Senate for consideration.It is reported that Michelle Bowman has expressed a more open attitude towards digital assets and their future in the financial system, and has urged state and federal governments to establish partnerships to jointly regulate stablecoins, while lawmakers are drafting related legislation.

ChainCatcher News: Former President Trump announced on Truth Social the appointment of current Federal Reserve Board member Michelle Bowman as the new Vice Chair for Supervision of the Federal Reserve.

ChainCatcher news, The Wall Street Journal quoted sources saying that President Trump’s advisory team tends to recommend Federal Reserve Governor Bowman for the position of Vice Chairman in charge of bank supervision.After Trump took office in January, Barr resigned from the position of Vice Chairman in charge of bank supervision at the Federal Reserve, retaining only the role of Governor. Trump has not nominated a successor, and the position has remained vacant. Some Republican lawmakers have been recommending the Republican Bowman for the role, and Trump’s advisors also support this idea. Trump stated in an interview on Sunday that he would announce the relevant nominee in the near future.

ChainCatcher news, according to Jinshi reports, U.S. President Trump stated that he will appoint a vice chairman for Federal Reserve supervision in the near future.

ChainCatcher news, FOX Business reporter Eleanor Terrett disclosed that outgoing Federal Reserve official Michael Barr spoke this afternoon at the Council on Foreign Relations in New York about bank decentralization and crypto regulation. He stated that the Federal Reserve is trying to take a neutral stance on these issues. The Fed's expectation is that they operate in a safe and sound manner and comply with consumer laws, anti-money laundering laws, and anti-terrorism financing laws. If they do so, we have no objections.Barr stated, "The Federal Reserve has a novel regulatory plan aimed at overseeing institutions in this space to ensure we have the right expertise to execute in this area. Some institutions are doing this, while others are getting it wrong and running into trouble, either due to anti-money laundering or Bank Secrecy Act issues, or because they cannot meet their customers' liquidity needs, and then they go bankrupt. So, at least for me, this is just straightforward mid-level risk management and banking. If you do it right, you can do it. If you do it wrong, then you shouldn't be doing it."Barr also mentioned that he has never seen evidence of customers being canceled from their bank accounts due to political views.

ChainCatcher News: The website of the Central Commission for Discipline Inspection and the National Supervisory Commission of China recently published an article pointing out that the integrity risks in the construction of financial information systems are becoming increasingly prominent, especially the issues of "difficult management, difficult supervision, and difficult accountability" caused by high professional and technical barriers.During the investigation of the corruption case of Yao Qian, the former director of the Science and Technology Supervision Department of the China Securities Regulatory Commission (CSRC), the discipline inspection and supervision team stationed at the CSRC discovered that he used virtual currency for power-for-money transactions, which were highly concealed and difficult to gather evidence. Yao Qian accepted huge bribes through his position, providing assistance to others in the procurement of information systems, involving project contracting, fund allocation, and other aspects.In response to the issues exposed by the case, the discipline inspection and supervision team proposed supervision opinions to the CSRC Party Committee, urging the strengthening of integrity risk prevention and control in information system procurement, and reinforcing system construction and implementation. At the same time, it emphasized the need to strengthen the education, management, and supervision of professional and technical personnel, especially the "top leaders," to correct the erroneous thinking of some cadres who believe their integrity risks are low, and to enhance their political awareness and discipline consciousness.In November last year, Yao Qian was subjected to disciplinary review and supervisory investigation by the discipline inspection and supervision team stationed at the CSRC and the Shantou Municipal Supervisory Commission in Guangdong Province for serious violations of discipline and law. This case further highlights the importance of integrity risk prevention and control in the field of financial technology supervision.