2027

According to Cointelegraph, the Financial Services Agency (FSA) of Japan proposed in its 2026 tax reform request to exempt trust-based stablecoins from mandatory tax reporting obligations starting from the fiscal year 2027. The agency suggested that trust-based stablecoins do not need to submit beneficiary trust reports and calculation statements that include the names and income of beneficiaries.The reason given by the FSA is that trust-based stablecoins circulate among a large number of users, with frequent and numerous transactions, and holding these assets does not generate income. If the proposal receives legislative approval, the relevant tax exemption measures will take effect from April 1, 2027.This move is part of Japan's efforts to incorporate cryptocurrency assets into the regulatory framework for traditional financial assets. In July of this year, the Japanese Diet passed an amendment that classifies cryptocurrency assets as financial assets under the Financial Instruments and Exchange Act, a direction first signaled by Finance Minister Shunichi Suzuki in January.

According to Yonhap News Agency, Park Hyun-joo, Chairman of Mirae Asset Group, stated that the cryptocurrency trading platform Digital X will be the core pillar of "Mirae Asset 3.0." Based on the group's customer assets exceeding 1,500 trillion won, the initial goal is to expand the digital asset business to 150 trillion won and aim for profitability by 2027.Mirae Asset plans to expand its products around four major directions: crypto assets, stablecoins, RWA, and STO, and promote the digitization of assets such as gold, silver, and electricity, as well as on-chain financial services. Digital X was formerly the South Korean cryptocurrency exchange Korbit, which was renamed after Mirae Asset Group acquired 97.15% of its shares.

The bankers' associations from 39 states in the United States have jointly formed the BankChain alliance, planning to build an industry-owned blockchain network for tokenized deposits, stablecoins, smart payments, and automated settlements, with the goal of launching in 2027. The alliance is currently still selecting technical partners and has not yet become an operational payment network.The BankChain alliance states that the 39 member associations represent 3,283 banks, with total assets of $21.8 trillion. The board of the alliance is chaired by Kathy Kraninger, president and CEO of the Florida Bankers Association. Howard Headlee, president of the Utah Bankers Association, stated that governance is a differentiated advantage, and BankChain aims to allow member banks to "equally access a network owned by them and have their voices heard."The area that BankChain is entering has a bank tokenization deposit project led by The Clearing House, which was announced in June and aims to facilitate on-chain clearing and settlement of tokenized commercial bank money, connecting the RTP and CHIPS payment networks. In contrast, BankChain's product range is broader, covering stablecoins and automated settlements, but it is still in the early stages and needs to first identify technology suppliers and convert association-level support into commitments from member banks.

Bernstein expects Bitcoin to reach a new high of $150,000 by mid-2027, followed by a peak of around $300,000 around 2029. The agency pointed out that this trend is related to the rise of the "debasement trade."At the same time, Bernstein maintains an Outperform rating on Strategy but has lowered its target price from $450 to $350, citing the updated Bitcoin cycle outlook and the accelerated equity dilution of the company.

According to The Block, the rescheduling date for Tornado Cash developer Roman Storm has been postponed to April 26, 2027, because the motion for his release on bail is still under review.Previously, U.S. prosecutors had pushed for the rescheduling to take place in October 2026. Tornado Cash is a mixing protocol in the Ethereum ecosystem, and Roman Storm, as one of the core developers, has faced judicial proceedings due to related charges. This schedule adjustment is directly related to the progress of his motion hearing.

According to Ibtimes, SpaceX CEO Elon Musk stated that the company is collaborating with NVIDIA to advance the launch of the first satellites equipped with AI computing capabilities to the fourth quarter of 2027, previously targeted for 2028.Musk mentioned that SpaceX and NVIDIA have designed the Vera Rubin NVL72 system optimized for the space environment, which is planned to be launched into orbit in the fourth quarter of 2027 and will achieve large-scale deployment in 2028. SpaceX will also utilize NVIDIA processors to provide orchestration, code execution, and data processing capabilities for the next generation of Agentic AI.Following the announcement, SpaceX's stock price strengthened, rising about 2.9% during trading to $138.92.Meanwhile, SpaceX is re-advancing its small modular nuclear reactor project, mPower. As the power demand for AI data centers rapidly increases, the company is seeking to provide stable, low-carbon, round-the-clock power through solutions such as small modular nuclear reactors.

NVIDIA (NVDA.O) announced that the Jetson Orin Nano 2 module and kit are expected to be launched in the first half of 2027.

UBS Global Wealth Management has raised its mid-2027 target price for the S&P 500 Index from 8,200 points to 8,400 points.

According to Caixin, Alibaba announced its first-quarter results for the fiscal year 2027. The revenue for the quarter was 268.95 billion yuan, a year-on-year increase of 9%, slightly higher than the market estimate of 268.52 billion yuan.The adjusted net profit for the same period was 20.72 billion yuan, lower than the estimated 25.58 billion yuan; the adjusted earnings per ADS were 8.52 yuan, lower than the estimated 11.28 yuan.

According to the Industrial and Commercial Times, driven by the long-term growth in demand for memory and advanced packaging due to AI, Winbond Electronics has proactively initiated expansion plans for its Kaohsiung Luzhu plant, merging the originally planned phases two and three into Module B for simultaneous development. Construction of the cleanroom is expected to start in 2027, with equipment installation beginning as early as the beginning of 2029, and equipment will be phased in according to customer demand forecasts and LTA. Currently, there are already customers negotiating for capacity in 2029 and 2030.Industry sources indicate that Winbond's niche DRAM and SLC NAND are in short supply in the third quarter, with a quarterly price increase estimated at about 50%; NOR Flash benefits from large cloud service provider customers stocking up, with a quarterly price increase estimated at about 30%. The price increase for memory in the fourth quarter is expected to converge to 2% to 5%, but thanks to increased DRAM capacity and growing shipment volumes, revenue and profits can still maintain a quarterly increase. Winbond's consolidated revenue in the second quarter was NT$59.843 billion, a quarterly increase of 56.4% and a year-on-year increase of 184.7%. DRAM prices increased by about 100% quarter-on-quarter, while Flash rose by about 43%, with consolidated gross margin rising to 66.2% and after-tax earnings per share of NT$5.40.The Module B product plan includes Standard DRAM, CUBE DRAM, Wafer-on-Wafer (WoW), and silicon capacitors (Si-Cap), which will support 14-nanometer and future 12-nanometer DRAM processes, with plans to introduce EUV equipment in the future.

OpenAI Chief Financial Officer Sarah Frier stated that OpenAI plans to become a publicly traded company by 2027, but may go public earlier if business growth accelerates. Frier mentioned that the IPO is a milestone and a means of financing. In March of this year, the company completed a $122 billion financing round, providing greater flexibility for future development.

Nomura Securities has initiated coverage on Yushu Technology, assigning a valuation of 25 times the 2027 sales multiple, expecting revenue growth rates of 101% and 144% for the fiscal years 2027 and 2028, respectively, with a compound annual growth rate of approximately 122% from 2026 to 2028. The research report highlights two major investment theses: the full-stack mechanical design and self-developed hardware provide Yushu with structural cost advantages, with outsourced components accounting for only 10% to 20% of total costs, and gross margins increasing from 44% in the fiscal year 2022 to 60% in the fiscal year 2025; rapid product iteration allows Yushu to repeatedly lead the industry into new application scenarios, launching four humanoid product series within 26 months.The report also notes that on July 28, 2026, the U.S. FCC included it in the Covered List, and while authorized models can still be sold, new models under development will face restrictions, constituting structural entry constraints. Currently, 73.6% of humanoid robot revenue still comes from research institutions, and catalysts for growth in new terminal markets remain scarce. Nomura suggests paying attention to the progress of the "brain"—the commercialization of WVLA2.0 and the industrial deployment of UnifoLM-X1-0, which may be key to unlocking new application scenarios. The views expressed in this research report are those of Nomura Securities and do not constitute investment advice.

Bond traders adjust strategies, while the options market bets on hedging against the Federal Reserve's interest rate cut risk in 2027. Despite rising long-term bond yields, options traders are focusing on signs of a weakening U.S. economy, believing it could trigger a market reversal.July inflation and slowing consumer demand have cooled market expectations for a Federal Reserve rate hike in September, prompting the options market to adjust positions and reduce the magnitude of rate hikes in the coming months.

According to Cointelegrath, Binance is planning to apply for a license from the UK's Financial Conduct Authority (FCA) and intends to relaunch some regulated services in the UK by 2027. Binance's UK subsidiary, Binance Markets Limited, has been prohibited by the FCA from conducting any regulated activities in the UK since June 2021. In 2023, Binance announced a suspension of new user registrations to comply with FCA financial promotion rules. A Binance spokesperson responded to the matter by stating, "We do not comment on speculation regarding potential license applications."The crypto regulatory framework published by the FCA in June requires crypto companies to submit applications between September 2026 and February 28, 2027, with the new system set to officially take effect on October 25, 2027. The FCA's Director of Payments and Digital Finance stated that the framework will impose "similar standards" on crypto companies as those required of other UK financial service providers.

Ethereum Foundation researcher Toni Wahrstätter stated that the protocol architecture team hopes to prioritize the advancement of Frame Transactions (EIP-8141) and FOCIL (EIP-7805) in the Hegotá upgrade planned for 2027. Frame Transactions can collaborate with Keyed Nonces and Recent Roots (EIP-8272) and Transaction Assertions (EIP-7906) to allow privacy pools to autonomously pay transaction fees and enable wallets to set execution conditions after transaction submission.FOCIL can provide protocol layer inclusion guarantees for eligible transactions. Currently, FOCIL is the only proposal confirmed for inclusion in Hegotá, while the Frame Transactions-related proposals are among the 66 proposals under evaluation. Other candidate proposals involve transaction pricing, state growth, block access lists, and optional zkEVM proofs on the mainnet. Vitalik Buterin previously proposed enhancing Ethereum's privacy, quantum resistance, and reducing reliance on layer two networks. Hegotá will be launched after Glamsterdam, with developers planning to complete Glamsterdam by the end of 2026.

According to Crypto.news, Cardano governance company Intersect has updated its roadmap, dividing the Dijkstra upgrade into two phases: the first phase will go live in Q4 2026, including the Linear Leios scaling solution, nested transactions, new serialization structures, and PlutusV4 changes; the second phase will activate the Ouroboros Peras consensus protocol through a separate hard fork, with a target date of Q2 2027.Linear Leios introduces an endorsement block mechanism, where additional transactions are certified by the stake committee to enhance throughput while retaining the existing Praos security model. Additionally, Cardano plans to submit an amendment to add Dijkstra-related parameters by September 11. The Rust node client Amaru has already acquired relay and chain synchronization capabilities, with a mainnet block production target set for November 2026. Intersect emphasizes that the above timelines are estimates rather than commitments, and governance and community testing may lead to delays in activation.

Ethereum developer Toni Wahrstätter posted on the X platform that Ethereum core developers are planning the next annual upgrade "Hegotá," with 66 Ethereum Improvement Proposals (EIPs) currently on the candidate list. Future core developer meetings will screen these proposals to finalize the upgrade content that can be implemented, tested on the development network, deployed on the test network, and has the potential to go live in 2027. Proposals that do not make it into Hegotá will be postponed until the next hard fork, making the current screening process significantly impactful for Ethereum's future development direction.Currently, FOCIL (Fork-Choice Enforced Inclusion Lists) has been identified as one of the important upgrade contents for Hegotá. Developers believe that combining framework transactions (EIP-8141), keying Nonce (EIP-8250), and root references (EIP-8272) will help build native privacy capabilities, allowing privacy applications to operate without relying on third-party intermediaries. Additionally, enhancing scalability is also a crucial direction for Hegotá. Developers propose that it is necessary to prepare for a future increase in the Gas limit to 600 million by repricing data resources (EIP-8131, EIP-8279) and state growth costs (EIP-8368). Although these improvements are not as intuitive as privacy features, they are considered key work to promote Ethereum's scalability in the short term.Other candidate upgrades include shorter block times (EIP-8198), adjustments to the issuance mechanism (EIP-8363), anti-correlation penalty mechanisms (EIP-7716), EVM optimization and simplification, as well as discussions on the first EIPs related to zkEVM and quantum-resistant cryptography. It is reported that Hegotá cannot incorporate all the features the community expects, and the core team needs to make trade-offs between "future vision" and "near-term deliverable upgrades," with most candidate EIPs likely not making it into this upgrade. Currently, it has been 256 days since the launch of the current Glamsterdam upgrade, with the goal of completing deployment by the end of this year. Hegotá is planned to go live in 2027, and in the coming months, core developers and the community will discuss the priorities of various EIPs. Community opinions will still play a role in the screening process, and participants who support or oppose a certain EIP entering Hegotá can present their views to the core development team through public discussions.

Market pricing shows that the probability of the Federal Reserve raising interest rates more than once before mid-2027 has decreased.