digital

According to a report by the Southern Daily cited by the Financial Associated Press, several universities recently issued notices stating that the salaries of on-duty and officially employed personnel will be distributed through digital RMB wallets. The Finance Office of Yangzhou University announced on October 20 that, according to a pre-notice from the Provincial Department of Finance, starting from November 2026, the salaries of on-duty and officially employed personnel (including personnel on agency contracts) will be distributed through digital RMB wallets. Relevant personnel must complete the opening and upgrading of their digital wallets based on their current salary card situation by October 23.The Finance Office of Nantong University issued a notice stating that, according to the Provincial Department of Finance, starting from November 2026, the salaries of all officially employed personnel and personnel on agency contracts will be distributed through digital wallets. Relevant personnel must complete the opening and upgrading of their digital wallets by October 30. Salaries and performance will be distributed on two separate cards, both of which need to be opened. The Finance Office of Jiangsu Normal University also issued a notice stating that to implement the national deployment of the digital RMB pilot program and according to the unified deployment of higher authorities, the university will steadily promote the distribution of salaries in digital RMB for on-duty personnel.

China Asset Management (Hong Kong) and Futu's licensed virtual asset trading platform Cheetah Trading announced the launch of a digital public fund approved by the Hong Kong Securities and Futures Commission, offering 24/7 secondary market trading services. Retail investors can buy and sell tokenized shares of China Asset Management's Hong Kong dollar and US dollar digital currency market funds year-round, with the first phase trading related Class F shares in Hong Kong dollars and US dollars.This service features real-time indicative net asset value (iNAV) display, price deviation alerts, and a 5-minute cooling-off period. 24/7 trading is only applicable to the secondary market, while subscriptions and redemptions in the primary market must still comply with the fund's sales documents and same-day net asset value calculation arrangements.

According to Crowdfund Insider, Lyn I. Javier, the Deputy Governor of the Central Bank of the Philippines and head of the financial regulatory department, revealed that the UK fintech company Revolut is actively negotiating with the bank to obtain a digital banking license in the Philippines.She pointed out that Revolut must go through the assessment process of the Central Bank of the Philippines, including meeting the relevant requirements for establishing a foreign bank institution in the Philippines. As for the specific approval timeline, it depends on the company's progress in compliance preparations.Revolut currently holds banking licenses in the UK, Australia, Colombia, and France, and has received conditional approval to establish a bank in the United States. Additionally, the company applied for a banking license in Switzerland in September.

According to Onchain Lens monitoring, Arthur Hayes (0x6cd...7e21) received 49.24 million USDC after recently selling tokens, of which Galaxy Digital recently transferred 23.07 million dollars to him, bringing the total amount of USDC received from the trading department and exchanges to 49.24 million dollars.

According to Cointelegraph, Piero Cipollone, a member of the Executive Board of the European Central Bank, stated that the digital euro is expected to help the European Union establish a self-controlled payment infrastructure and reduce reliance on non-European third-party payment service providers. Europe has already recognized the risks of excessive dependence on external forces in critical areas such as energy and defense, and the same applies to the payment sector. However, payment sovereignty does not mean excluding third parties, but rather allowing Europe to have autonomous choices in key services.The European Central Bank plans to launch a digital euro pilot next year and will test it using real transactions. It is currently collaborating with 36 market operators to prepare, while also inviting e-commerce and mobile commerce operators to participate.

According to Onchain Lens monitoring, Arthur Hayes transferred approximately 8,000 ETH, worth about 18.69 million USD, and subsequently received around 11.73 million USDC from Galaxy Digital and Flowdesk, with approximately 6.96 million USD remaining to be processed.

According to CoinDesk, the Swedish central bank is pushing lawmakers to reconsider the necessity of issuing an electronic krona (e-krona), believing that with the development of foreign stablecoins and the digital euro, the use of the Swedish krona in the payment system may face long-term pressure.Per Jansson, the Deputy Governor of the Swedish central bank, stated that if cash becomes further digitized and the Swedish krona lacks a convenient digital form, the local currency may struggle to compete with digital payment tools that can be used across borders. Although the central bank has not yet decided whether to officially issue an electronic krona, it hopes to initiate preparations at the legislative level as soon as possible, as the related institutional and technical work is expected to take at least 5 years.

The technology division of South Korea's LG Group, LG CNS, has reached a strategic partnership with Chainlink, aiming to promote the development of South Korea's $68 billion digital asset market. LG CNS will leverage Chainlink's cross-chain, data, and orchestration infrastructure to enhance its digital asset platform solutions.LG CNS will also rely on Chainlink's full suite of platform capabilities to develop digital asset solutions for various institutions in South Korea. LG Group is one of the largest business groups in South Korea, with 63 subsidiaries and total assets of approximately 186 trillion won. LG CNS is the main contractor for South Korea's central bank digital currency project, the "Han River Project."

The Blockchain Association stated that it has sent a letter to the leadership of both the House and Senate, urging Congress to advance prudent, bipartisan digital asset tax legislation, and launched TaxClarityforAmerica.com for the public to understand the principles, view congressional progress, and contact legislators.The association noted that approximately 67 million Americans hold and use digital assets, but the current tax system is outdated, leading to uncertainty for taxpayers, excessive compliance burdens, and forcing innovation to move overseas.Its "Digital Asset Tax Principles" include: a meaningful small exemption; taxation of mining and staking rewards as newly created property upon disposal; reporting arrangements that protect taxpayer privacy; tax compliance based on economic substance rather than technical form; and wash sale rules that do not penalize everyday activities while preventing abuse.The association also stated that the House Ways and Means Committee had previously advanced legislation related to digital asset taxation, and Senator Steve Daines has also introduced a Senate version. Congress is in recess until after the elections on November 3, and there remains a legislative window during the short session.

According to a report by the Korean News Agency, Lee Won-ik, Chairman of the Financial Services Commission, stated during a comprehensive inspection at the National Assembly's Political Affairs Committee regarding the taxation of virtual assets to be implemented next year, "Various circumstances need to be fully considered." On the same day, People Power Party member Song Yeon-sik questioned whether to abolish or postpone the taxation, stating that the nature of digital assets and policy direction have not yet been determined, and that the "Basic Law on Digital Assets" should be prioritized. Lee Won-ik responded that the relevant legislation on digital assets is in the final negotiation stage and discussions will be promoted as soon as possible; regarding taxation, opinions from various parties are diverse, and collection of opinions is still ongoing.The taxation of virtual assets in South Korea was introduced in 2020 through amendments to the Income Tax Act, having been postponed three times previously. The government is currently advancing administrative procedures according to the timeline for implementation in January next year, but some in the industry and even within the ruling party believe that due to unclear standards and insufficient infrastructure, the timing for implementation is not yet mature.

California Attorney General Rob Bonta announced that his office has reached a $500,000 settlement agreement with Fidelity Digital Assets, National Association (the successor entity of Fidelity Digital Asset Services), regarding the company's previous practice of restricting California retail customers from transferring cryptocurrency to external wallets.Regulators believe that this practice may violate the California Commodity Act of 1990; this law restricts certain speculative commodity contracts unless the buyer obtains physical delivery within a specified time, and the California government views the ability to withdraw cryptocurrency as a functional equivalent of delivery. From November 2022 to April 2025, California customers could buy and sell cryptocurrency on the Fidelity platform but were unable to send assets directly to external wallets. Fidelity stated that this restriction stemmed from the New York State Department of Financial Services (NYDFS) not approving the relevant functionality at that time; the license was approved in April 2025, and the transfer feature will be extended to all California retail customers in June 2025.

The Digital Currency Renminbi Operation Management Center interprets the recently released core results of the central bank's digital renminbi system DCEPS and the digital renminbi smart contract ecological service framework e-CNY SMART Contract. DCEPS is a comprehensive payment and settlement platform that integrates issuance management, retail, wholesale, blockchain payment, and smart contract services, providing a technical foundation to support digital currency.e-CNY SMART Contract is designed to meet the needs of digital economic development, constructing a smart contract service system that involves multiple participants and open collaboration, which has already been implemented in scenarios such as prepaid fund management, supply chain finance, fiscal subsidies, consumer red envelopes, and wage distribution for migrant workers. The digital renminbi has been upgraded from cash-type 1.0 to deposit currency-type 2.0 as of January 1, 2026, with DCEPS and the digital currency cross-border settlement comprehensive service platform being built and operated by the Digital Currency Renminbi Operation Management Center and the International Operation Center, respectively.

Grayscale announced the launch of an in-kind investing mechanism, allowing investors to directly deliver eligible digital assets in exchange for shares of Grayscale's products. Grayscale stated that this mechanism is expected to alleviate the burden of self-custody of assets for investors, reduce potential trading execution costs, and make digital assets easier to incorporate into traditional portfolio management.Currently, this mechanism covers 10 products, including Bitcoin Mini Trust ETF (BTC), Ethereum Staking Mini ETF (ETH), Avalanche Staking ETF (GAVA), Chainlink Trust ETF (GLNK), Dogecoin Trust ETF (GDOG), Hyperliquid Staking ETF (HYPG), Solana Staking ETF (GSOL), Sui Staking ETF (GSUI), XRP Trust ETF (GXRP), and Zcash ETF (ZCSH).

Anchorage Digital, the first federally regulated crypto bank in the United States, announced a partnership with the tokenization platform Securitize, which will allow for the direct minting and redemption of stablecoins issued by Anchorage Digital Bank, N.A., without the need for intermediaries. Anchorage Digital Bank is also responsible for custody and settlement, ensuring that the counterparty and custody standards on the dollar side of tokenization transactions on Securitize align with those on the securities side.Securitize is the largest tokenization platform globally by assets under management, providing regulated infrastructure for tokenized funds for institutions such as Apollo, BlackRock, BNY, Hamilton Lane, KKR, and VanEck, with platform assets exceeding $4 billion. The stablecoin issuance ecosystem of Anchorage Digital Bank includes USDtb, issued in collaboration with Ethena Labs, and USA₮, co-developed with Tether.According to an independent reserve report verified by Anchorage Digital Bank, as of August 31, 2026, approximately 99% of the $530 million reserves of USDtb are held by the Securitize tokenized BlackRock BUIDL fund.Nathan McCauley, co-founder and CEO of Anchorage Digital, stated that Anchorage Digital Bank is designed for the large-scale issuance of stablecoins under federal regulation, and regulated issuance is key for tokenization to reach institutional scale. Carlos Domingo, chairman and CEO of Securitize, mentioned that collaborating with Anchorage Digital Bank enables them to directly access digital dollars issued under federal regulation and custodied by the same institution.

According to Caixin, Liu Jun, President of the Industrial and Commercial Bank of China, stated at the first Digital Renminbi Annual Conference held during the 2026 Financial Street Forum Annual Meeting that while digital technology promotes the development of the digital economy, it also brings changes to the currency trust mechanism. Data, algorithms, and programmability are beginning to participate in the generation and transmission of credit, with trust shifting from being supported by institutional singular points to being jointly supported by institutions and technology. However, technology can only reinforce trust, not replace it.Liu Jun mentioned that whether digital currency can become a currency is not primarily about the algorithm design itself, but rather about how credit is supported and fulfilled, and how responsibility is implemented. He pointed out that currency is transitioning from physical forms to data, moving from multi-step clearing reliant on accounts and intermediaries to synchronous payment and settlement. The way currency is realized is changing, but its attributes remain the same, still fulfilling the three functions of a medium of exchange, a store of value, and a unit of account.

According to a report by Xinhua News Agency, the Digital Renminbi Operation Management Center has publicly announced the digital renminbi infrastructure service system and launched two core achievements.The two core achievements are the Central Bank Digital Currency System (DCEPS) and the Digital Renminbi Smart Contract Ecological Service Framework (e-CNY SMART Contract).

On October 20, 2026, Jason Pagoulatos, a macro and market author at the cryptocurrency research institution Delphi Digital, released a report titled "The House Always Wins: Why Speculation is the Theme of This Decade." Pagoulatos stated that speculation has two long-term engines: constructive and lottery-like. Technological changes open the former, while fiscal and political pressures open the latter; historically, many famous bubbles have been driven by one or the other. Today, both are operating at high speed simultaneously, and the same batch of technologies is feeding both. He thus considers speculation itself as an investable theme, advocating for holding places for liquidation bets rather than holding the bets themselves.The data cited in the report includes that the U.S. federal deficit for fiscal year 2025 is $1.8 trillion, about 5.8% of GDP, with net interest around $1 trillion per year, exceeding defense spending. The Harvard Joint Center for Housing Studies states that the national median price for single-family homes in 2024 is 5.0 times the median household income; the National Association of Realtors reports that first-time homebuyers account for 21% of transactions, with a median age of 40. According to the American Gaming Association, legal sports betting amounts have risen from $6.6 billion in 2018 to $166.9 billion in 2025. Capital expenditures for Microsoft, Alphabet, Amazon, and Meta are approximately $416 billion for 2025, with guidance for 2026 totaling about $720 billion to $745 billion, plus Oracle.In terms of venues, Robinhood's event contract revenue for Q2 2026 is $156 million, higher than stock revenue of $129 million and crypto revenue of $100 million during the same period. Hyperliquid's expenses for 2025 are about $972 million, with transactions around $3 trillion. Kalshi reportedly raised funds at a valuation of about $40 billion, and Polymarket is set to relaunch in the U.S. by the end of 2025. The author also mentions that the most likely mistake is to hold inventory of the crowd and call it a casino. The report states that it is for educational and general informational purposes only and is not investment advice; the author may hold Bitcoin, HYPE, HOOD, and LIT, and affiliated party Delphi Ventures may invest in the assets or agreements discussed in the report.

Bitcoin News posted on platform X, stating that as the Clarity Act is stalled, regulators are independently formulating rules for the digital asset market based on existing authorities. The Commodity Futures Trading Commission has solicited opinions on a framework for retail digital asset trading, which includes a new category of "crypto asset market" exchanges, with the comment period ending on December 14.The comment period for the Securities and Exchange Commission's proposed Regulation Crypto Assets will close on October 20. The pace at which regulators are crafting rules is faster than congressional legislation, but the relevant rules may face challenges in court or be rescinded by future commissions; a lasting regulatory framework still requires legislation.