Bulgaria is bringing crypto transactions under expanded tax reporting rules. Crypto firms will be required to register with the National Revenue Agency and disclose detailed customer and transaction data.
The legislation passed its final reading with 149 votes in favor, none against and 10 abstentions, aligning Bulgaria’s reporting framework with the EU’s DAC8 rules for digital assets.
The ECB is preparing to test the digital euro in real-world payment scenarios. Merchants are being invited to join a 12-month pilot alongside 19 euro area central banks and 36 banks and payment firms.
Deutsche Bank, Revolut, CaixaBank, BNP Paribas and ING are among the financial institutions already selected for the program. The pilot will test the infrastructure and user experience ahead of a possible digital euro issuance in 2029.
Arc Mainnet is officially live. Circle’s new Layer 1 launches with infrastructure for payments, lending, trading, onchain FX, tokenized assets and AI driven economic activity, with USDC used for transaction fees.
Circle is positioning Arc as more than a standalone blockchain, integrating it directly with its broader stack including CCTP, Gateway, Circle Payments Network and StableFX.
South Korean investors are pushing back against the country’s upcoming digital asset tax. A petition seeking a two-year delay has crossed 50,000 signatures, triggering a legislative review.
The petition is expected to be referred to the National Assembly’s Strategy and Finance Committee for consideration. Lawmakers will now have to formally examine the request before deciding whether any further delay should be pursued.
The UK is considering a separate regulatory path for tokenized gold.
The FCA is working with the Treasury and Bank of England on potential exemptions from existing fund rules.
No final decision has been made. The FCA is examining whether clearer rules could make tokenized gold easier to issue, trade and use as collateral while providing greater certainty over which investors can access these products.
Brazil’s crypto market could shrink dramatically under its new licensing regime. Providers now face capital requirements of up to $7.2 million, with around 10 firms ultimately expected to secure licenses.
Firms must submit their applications by October 30, while those that do not apply will have 30 days to wind down their operations. Around 290 platforms could ultimately leave the Brazilian market.