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first_img The New York Department of Financial Services issued advertising marketing guidelines for licensed cryptocurrency entities

According to The Block, the New York State Department of Financial Services has issued new guidelines for advertising and marketing requirements for licensed cryptocurrency entities in the state, which include avoiding misleading or deceptive content. Acting Superintendent Kaitlin Asrow stated in a press release that today's guidelines reinforce the commitment to protecting New York residents and ensure that advertising and marketing practices in the virtual currency space are clear, comprehensive, and accessible.The New York State Department of Financial Services announced on the same day that these guidelines apply to virtual currency entities licensed or chartered by the department, requiring them to establish and implement policies and procedures for advertising and marketing materials related to virtual currency products, services, and activities, with a focus on content accuracy, clear disclosures, and governance and review processes. Relevant entities must update their policies and procedures according to the guidelines by May 10, 2027, review them at least once a year, and maintain records for regulatory inspection. The Department of Financial Services will assess the implementation and effectiveness of these policies and procedures through examinations and ongoing supervision.Common practices listed in the guidelines include: reviewing marketing claims to ensure they fairly present products, services, or activities, are supported by evidence and verifiable, and do not contain exaggerated or false statements about performance or regulatory status; customer disclosures should be clear, prominent, easily understandable to the general audience, and clearly identify the entity providing the products, services, or activities; establishing governance review processes for advertising and marketing materials, designating responsible parties, conducting due diligence on third-party promoters, and promptly monitoring and addressing instances of fraudulent or improper use of their name or brand by others.

Huawei, Alibaba, and 20 other organizations released a self-discipline convention for the development of intelligent entities

According to Gelonghui, citing the China Academy of Information and Communications Technology, on November 4, a joint release of the "Self-Regulatory Convention for the Development of Intelligent Agents" was made by 20 entities including the China Academy of Information and Communications Technology, Huawei, Alibaba, Tencent, and Xiaomi.The convention mentions the construction of interconnected infrastructure for intelligent agents, co-building interoperable infrastructure, developing technologies and standards for intelligent agent registration and resolution, capability description and discovery, intent understanding and transformation, network routing and connection, resource scheduling and measurement, protocol compatibility and mutual recognition, continuously reducing the cost of cross-domain discovery and connection for intelligent agents, and supporting the interconnected collaboration of intelligent agents.The convention also mentions accelerating the empowerment of intelligent agents across various industries, adhering to serving the real economy, developing low-threshold tools for intelligent agent development and deployment, collaborating on research and development of intelligent agents aimed at real operational scenarios that create actual value, promoting the embedding of intelligent agents into existing production systems and business processes, creating benchmark applications, continuously reducing the cost of implementing intelligent agents, and assisting industries in improving quality and efficiency.

first_img SEC Updates Token Classification FAQ: Adapting to DUNA Entities, Clarifying Issues of Functionality and Decentralization Boundaries, etc

a16z Chief Legal Counsel Miles Jennings posted on X that the U.S. Securities and Exchange Commission (SEC) has released new FAQs that further clarify its token classification framework. He pointed out that Question 1.4 clearly states that systems can maintain decentralized governance and use legal entities such as DUNA; Question 1.5 distinguishes between licensed and unlicensed systems; and Question 1.6 clarifies the difference between "functional" and "decentralized."The SEC's Division of Corporation Finance updated the relevant Q&A on November 2. The response to Question 1.4 states that participants in a widely governed functional crypto system, if not interconnected and without formal or informal collaborative arrangements other than participating in that governance system, typically do not constitute a group of persons or entities defined as "centralized parties"; even if they do form such a group, they must still possess operational, economic, or voting control to meet the definition of "centralized parties." This conclusion also applies to cases where the governance system belongs to an organization, association, or foundation, and participation is based on holding native crypto assets.The response to Question 1.5 states that centralized party oversight of participants refers to the authority to control access to the system at the protocol, validator, or user level, such as unilaterally granting or restricting access, deciding on upgrade voting procedures, controlling who can participate in consensus, or modifying rule code, revoking transactions, and access. The response to Question 1.6 states that "functional" refers to native crypto assets being usable according to the system's programmed purposes, while "decentralized" refers to the system operating autonomously without any person, entity, or group having operational, economic, or voting control; the two are distinct concepts. The above responses represent the views of the staff of the Division of Corporation Finance and do not constitute SEC rules or statements.

OKX Star: Calling for the establishment of industry-level security standards, opposing security becoming a competitive field

According to official news, regarding the recent security incidents involving Bybit, Bitget, and Binance, OKX founder and CEO Star stated that security should not be a field of commercial competition, but rather a shared responsibility of the entire cryptocurrency industry. Over the past decade, major exchanges have made significant progress in private key protection, but there are still potential risks in access control and wallet management systems. He emphasized that no system is absolutely secure, and any major security breach at an exchange could undermine the trust of the entire industry.Star called on major exchanges in the cryptocurrency industry to strengthen cooperation and jointly establish stricter industry security standards and coordinated response mechanisms, including increasing verification and security delays for large withdrawals to unknown addresses and smart contract authorization transactions, as well as implementing key security restrictions at the cryptographic signature layer. At the same time, the industry should establish real-time security incident reporting, joint monitoring of suspicious funds, and rapid response mechanisms, and promote collaborative research in areas such as post-quantum cryptography and AI security threat defense. He emphasized that no single company can safeguard the future of the cryptocurrency industry alone.
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