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South Korea Plans to Amend Foreign Exchange Law to Regulate Stablecoins
The BOK and the South Korean government plan to amend the Foreign Exchange Transactions Act this year, bringing stablecoins under regulation as a means of payment. South Korea is accelerating efforts to finalize its legal framework for crypto assets. According to local news outlet Digital Asset, the Bank of Korea (BOK) and the government plan to amend the Foreign Exchange Transactions Act this year to regulate stablecoins as a means of payment, while also establishing a framework for overseeing virtual assets. The BOK said it is working with the government to develop measures to regulate cross-border crypto asset transactions.
Argentina Suspends LIBRA Case Against President Milei
Argentine judge suspends LIBRA case against President Milei and 10 others, a token that once lost 95% of its market value from $4.5 billion. Argentine federal judge Marcelo Martínez de Giorgi on Friday suspended the criminal case related to President Javier Milei’s promotion of the LIBRA crypto asset. In a 60-page ruling, the judge concluded that the actions under investigation did not constitute any crime under the law for Milei and 10 others. The list includes his sister, Presidential Secretary General Karina Milei; Hayden Davis, a U.S. citizen who described himself as the project’s “launch advisor”; Mauricio Novelli, a crypto policy lobbyist; and Julian Peh of KIP Protocol.
Malaysia and Thailand Join Singapore's BLOOM Cross-Border Stablecoin Initiative
Malaysia's central bank and Thailand have joined Singapore's BLOOM initiative, alongside Ripple, Visa, and Mastercard, to study cross-border payments using stablecoins. A Singapore-led digital currency cross-border payments initiative has just expanded to a regional level. The Monetary Authority of Singapore (MAS) confirmed on Friday that the Central Bank of Malaysia and the Bank of Thailand have joined the BLOOM initiative as policy-making members. BLOOM, short for Borderless, Liquid, Open, Online, Multi-currency, focuses on researching methods for settling cross-border transactions using regulated stablecoins and tokenized bank deposits.
CoinDCX Admits Losing $16 Million from Old Wallets
Indian crypto exchange CoinDCX confirmed that it lost 15.99 million USDT from wallets it had discontinued, days after its CEO called reports of a breach a false alarm. Indian crypto exchange CoinDCX admitted it lost 15.99 million USDT, worth about $16 million, in an attack targeting deposit wallets that had been discontinued after a cyberattack in July 2025. The confirmation came just days after co-founder and CEO Sumit Gupta said on X that reports of a system breach were likely a “false alarm.”
SEC Puts Superintelligent AI and Tokenization Under Scrutiny
Among its eight examination priorities for fiscal year 2027, the SEC has identified superintelligence and tokenization as risks that could have a systemic impact on markets. The U.S. Securities and Exchange Commission’s (SEC) Division of Examinations on Thursday announced its eight examination priorities for fiscal year 2027. Notably, the agency added “superintelligence and other advanced technologies” to its formal examination program, citing their potential effects on market operations, compliance, fraud prevention, and investor protection. Separately, tokenization was identified as a distinct priority area within market infrastructure.
Google Relaxes Its Commitment, Uses Gmail Data for Ads
Starting October 16, Google will allow data from Gmail, Drive, and Photos connected to its Personal Intelligence AI system to be used to personalize ads. Google has quietly revised its privacy policy, creating an exception to a commitment it had upheld for years: not using content from Gmail, Drive, and Google Photos for advertising purposes. The change took effect on October 16 and was first discovered by tech website Android Authority.
Wells Fargo, Cisco, Intuit and three other companies oppose OKX and ICE’s tokenized stock platform, bringing the total to 22. Opposition to the tokenized stock platform that OKX and Intercontinental Exchange (ICE) are preparing to launch continues to grow. In a public announcement updated on Friday, the OKXICE TSV joint venture named six more issuers that do not want their stocks traded on the platform: Wells Fargo, Cisco Systems, Marvell Technology, Arm Holdings, Moderna and Intuit. This brings the total number of companies opposed to 22, up from 16 on October 19 and 9 on October 15.
Walmart Paves the Way for AI Agents to Shop on Customers’ Behalf
Walmart launches Agent Profiles and Walmart Agent Gateway, allowing AI agents to place orders on users’ behalf within customizable spending limits. The first solution is expected to roll out within the next month. Walmart, one of the world’s largest retail chains, has announced two infrastructure solutions designed to integrate third-party AI agents into the Walmart and Sam’s Club shopping platforms. With this move, the U.S. retailer has officially joined the race for agent-based commerce, but with a conditional open-door approach. Users can authorize autonomous agents to place orders, but all permissions remain within limits set by the account holder and Walmart.
Solana Cuts Transaction Finality to 150 Milliseconds
The Alpenglow consensus protocol reduces Solana’s time to finality from around 12.8 seconds to 150 milliseconds, making it about 85 times faster. The Solana blockchain has activated Alpenglow, a new consensus protocol replacing TowerBFT, which has operated since the network launched. Anza, one of Solana’s core development teams, said the transition has been completed on the mainnet, with the entire transaction history preserved. The upgrade aims to speed up settlement for payment services, crypto asset exchanges, and financial applications across the ecosystem.
Blockchain Association Urges Clarity on Crypto Asset Taxes
Blockchain Association, representing more than 100 businesses, urges the U.S. Congress to clarify crypto asset tax policy as the CLARITY Act stalls. Blockchain Association, an organization representing more than 100 businesses in the crypto asset industry, sent a letter on Thursday to bipartisan leaders in the U.S. Congress, urging them to pass legislation to address shortcomings in crypto asset tax policy. The recipients included Senate Majority Leader John Thune, Senate Minority Leader Chuck Schumer, House Speaker Mike Johnson, and House Minority Leader Hakeem Jeffries.
Chainlink Teams Up with LG CNS to Advance Won-Denominated Stablecoins
Chainlink partners with LG CNS to develop infrastructure for South Korea’s $68 billion crypto asset market, focusing on expanding won-denominated stablecoins. Chainlink has announced a strategic partnership with LG CNS, the LG Group subsidiary specializing in artificial intelligence (AI) transformation and IT services. The agreement aims to develop infrastructure for South Korea’s $68 billion crypto asset market, with a focus on expanding the adoption and distribution of domestic stablecoins, an emerging segment with more than 11 million eligible users.
Italy Cracks Down on Mafia’s Underground Bank Using Crypto Assets
Italian police arrest 30 and seize 21 million euros in crackdown on underground bank using crypto assets to launder money for the ‘Ndrangheta and Camorra. Italy’s Financial Police (Guardia di Finanza) have arrested 30 people accused of running an underground bank serving organized crime groups, operating under the guise of a car rental business in Pero, on the outskirts of Milan. Authorities seized assets worth 21 million euros, equivalent to about $23.6 million, including cash, bank account balances, crypto assets, boats, jewelry and luxury watches, ANSA reported on Wednesday.
HSBC Launches RedCoin Stablecoin for Hong Kong Retail Customers
HSBC launches RedCoin, an HKD stablecoin integrated with PayMe, enabling users to transfer money P2P and make payments at more than 100,000 merchants. HSBC has launched RedCoin (RCHKD), the bank’s first stablecoin pegged to the Hong Kong dollar (HKD). The product officially became available on HSBC’s PayMe payment platform on Friday, marking a new step into the retail crypto-asset market for one of the three commercial banks authorized to issue HKD banknotes.
SoFi Launches SOFIE Tokenized Deposits with a 4.4% Yield
SoFi launches SOFIE, a tokenized deposit offering a 4.40% annual yield, FDIC-insured and convertible 1:1 into the SoFiUSD stablecoin. On Thursday, SoFi announced SoFi Earn, a product with the ticker SOFIE that the company describes as the first tokenized deposit for retail customers issued by a nationally chartered bank in the U.S. Each SOFIE token represents $1 in deposits at SoFi Bank and offers an annual percentage yield (APY) of 4.40%. Deposits are insured by the Federal Deposit Insurance Corporation (FDIC) up to applicable limits.
Coinbase Fined Another $3.6 Million in Ireland for Breaching Customer Fund Safeguarding Rules
The Central Bank of Ireland fined Coinbase Ireland €3,252,618 for breaching rules on safeguarding customer funds, marking its second penalty in less than a year. On Thursday, the Central Bank of Ireland announced that it had fined Coinbase Ireland €3,252,618, equivalent to approximately $3.6 million, for breaching rules on safeguarding customer funds and outsourcing services under Ireland’s Electronic Money Regulations. The breaches occurred between November 2020 and August 2025.
Meta Creates Class C Shares to Raise Capital for AI
Meta to distribute non-voting Class C shares at a 1:1 ratio, paving the way to raise capital for AI while preserving Zuckerberg’s 60.6% voting power. Meta’s board of directors has approved the creation of Class C shares, a new class of stock that is essentially non-voting. The plan was announced Wednesday, alongside the company’s third-quarter results. Under the plan, holders of Class A and Class B shares will receive one additional Class C share for each share they currently own. The new class of shares will be established on January 19, 2027, and the distribution must be completed within five business days of that date.
a16z renames its $2.2 billion crypto fund to a16z Frontier, expanding investments into AI, autonomous machines, and biotechnology. Andreessen Horowitz (a16z), one of the biggest investors in the crypto industry, is renaming its crypto investment fund a16z Frontier, according to an email sent to the company’s newsletter subscribers on Thursday. In addition to crypto, the fund will expand its focus to include artificial intelligence (AI), autonomous machines, and biotechnology.
PHP2Shell: Millions of Attacks, No Intrusions Reported
PHP has released patches for the PHP2Shell vulnerability, but millions of attack attempts and around 884,000 servers running unsupported versions mean the risk remains. Two security vulnerabilities in PHP, collectively known as PHP2Shell, forced several European government agencies and businesses to urgently disconnect systems this week. PHP is the programming language running behind about 70% of websites with an identified server-side language, and PHP2Shell allows attackers to take control of servers without logging in.
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