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According to a report by the Korean News Agency, the Financial Services Commission of South Korea and the Financial Supervisory Service are strengthening monitoring of "perpetual contracts" linked to Korean stocks and stock indices traded through global virtual asset platforms.If illegal business activities targeting Korean residents, such as soliciting account openings or trading, are found on overseas platforms, the regulatory authorities will refer the matter to investigative agencies and take strict countermeasures.

According to The Defiant, the HashKey Chain administrator transferred 142,818 USDT by temporarily replacing the contract, and about six minutes later, the original deposit code was restored. HashKey Chain is an Ethereum Layer 2 network launched by HashKey Group, primarily aimed at compliance and institutional-level application scenarios.The report shows that this temporary replacement did not change the final state of the deposit code, but a multi-signature composed of five members, requiring three signatures, still retains the immediate upgrade authority, allowing upgrades to the contract to be executed without a time lock delay.

The co-founder of the decentralized perpetual contract platform Hyperliquid, Jeff Yan, stated in an interview with Bloomberg's "Odd Lots" podcast on October 15 that regulatory obligations should be imposed on financial service providers operating markets on the Hyperliquid blockchain, rather than on the blockchain network itself, to reduce the compliance burden for the platform entering the U.S. market.Yan likened this idea to internet infrastructure, believing that the blockchain, as the underlying liquidity and trading infrastructure, should not bear all the regulatory responsibilities of traditional trading platforms directly, but rather the service providers that actually operate the markets and hold relevant control should fulfill compliance obligations. He stated that Hyperliquid does not aim to replace traditional financial institutions on Wall Street, but hopes to provide them with underlying trading technology, similar to how Amazon Web Services provides computing infrastructure to businesses.Yan mentioned that the team is seriously advancing the development of Hyperliquid into an infrastructure covering various financial markets. Currently, Hyperliquid is still not open to U.S. users, but Kraken's parent company Payward has planned to offer derivative services to U.S. investors through a regulated trading platform, utilizing its technology.

According to Gate market data, the Nikkei 225 index closed down 3318.34 points on October 15, with a decline of 4.90%, reporting at 64425.95 points. The South Korean KOSPI index also closed down 454.54 points on the same day, with a decline of 7.56%, reporting at 5554.27 points.During the trading session, the South Korean stock market once fell more than 9%, triggering the circuit breaker mechanism for the tenth time this year. The South Korean financial regulatory agency held an emergency meeting in the afternoon regarding the stock market, and subsequently, the market's decline narrowed. SK Hynix initially closed down 11.06%, while Samsung Electronics fell 9.48%.

According to official news, the South Korean financial regulatory agency issued a statement that it will hold an emergency meeting to discuss the stock market. (Jinshi)

The smart trading system Instinct, supported by Y Combinator, is officially launched. This platform aims to open the research and trading capabilities of professional investment institutions to individual traders.The Instinct team members come from organizations such as Squarepoint Capital, the European Particle Physics Laboratory, and the Quantum Computing Center at the University of Southern California. The platform integrates fragmented financial tools and information links through independently operating intelligent agents, capable of processing massive amounts of market data, information, and market sentiment in parallel, automatically discovering cross-market opportunities, building trading tools, and executing trades.With this system, individual traders can cover more niche and specialized investment scenarios, achieving more flexible strategy layouts.Officials believe that the future investment model will shift to individual traders operating in conjunction with AI agent teams, and it is anticipated that within two years, there may emerge single-person investment institutions managing up to 1 billion dollars.

According to South Korean media Sedaily, South Korea plans to start taxing cryptocurrency in January next year, but there are still several loopholes in the tax infrastructure. The head of the National Tax Service, Lim Kwang-hyun, stated during a parliamentary audit that preparations are being made for the smooth implementation of the tax, but activities such as transfers between private wallets and trading on overseas platforms are still difficult to track comprehensively.Even with the introduction of the Crypto Asset Reporting Framework (CARF), it is challenging to cover all transactions. It is reported that the Bank of Korea also exposed related regulatory blind spots during a previous parliamentary audit.

According to two informed sources, the largest cryptocurrency exchange in the Philippines, Coins.ph, is facing punitive actions from the Bangko Sentral ng Pilipinas (BSP). The alleged violations reportedly involve providing services to offshore betting companies, with a severity that could lead to the revocation of the operating license for this 12-year-old company. One source stated that this would trigger an "earthquake" in the Philippine crypto ecosystem.Coins.ph has over 18 million customers and a 24-hour spot trading volume of approximately $50 million, controlling about 75%-80% of the liquidity of pesos and stablecoins in the Philippines. Earlier this month, the BSP reportedly imposed restrictions on deposits made through Coins.ph's main wallet company, DCPay Philippines. Previously, several compliance executives from the exchange left, including Chief Compliance Officer Lexi Herrera, Head of Anti-Money Laundering Transaction Monitoring Chris Beaño, and Money Laundering Reporting Officer Irish Calagui.A year ago, the Bangko Sentral ng Pilipinas restricted the use of e-wallet applications for gambling, requiring regulated entities to cut off access to gambling websites within the apps. Subsequently, several betting entities migrated to Coins.ph. This restriction is not a temporary measure and no reasons have been provided. Coins.ph is one of the earliest crypto wallets and exchanges in the Philippines, acquired by Indonesian tech company Gojek for $95 million in 2019, and later sold to former Binance CFO Wei Zhou. Neither Coins.ph nor the Bangko Sentral ng Pilipinas responded to requests for comment.

According to The Block, Chicago Mercantile Exchange CEO Terrence Duffy stated that the U.S. Commodity Futures Trading Commission (CFTC) is facing an issue of "overreach" in its attempt to expand regulatory authority over prediction markets, and the related regulatory disputes may ultimately reach the U.S. Supreme Court.Duffy mentioned during the DC Fintech Week event on Tuesday that the struggle for regulatory authority over prediction markets could evolve into a legal battle between state governments, tribal governments, and the federal government, stating, "This will go to the Supreme Court, and I believe state governments and tribal governments will have the advantage."

On October 13, 2026, the real-world asset market HyperDex announced the launch of a spot and perpetual contract aggregator, placing spot routing, cross-chain transfers, and the newly announced perpetual aggregation on the same interface. The announcement did not disclose the trading volume upon launch, and the perpetual section did not specify the venue, supported contracts, collateral rules, or liquidation mechanisms; the product is currently labeled as beta.The interface provides quotes for each exchange and cross-chain transaction between exchanges, cross-chain bridges, and intent resolvers; users sign with their own addresses, and funds are routed through audited contracts to the selected target, with the platform not holding custody. The team claims to have integrated with LI.FI, RIFT, Enso, Ravn, and specifically mentions Relay, Across, NEAR Intents, Chainflip, among others, totaling over 70 venues and more than 19,000 tokens, including tokenized stocks, gold, government bonds, and credit issued by Ondo, Backpack, Coinbase, Robinhood, etc. The supporting chain documentation states that routing covers 69 mainnets, 36 bridges, and 39 exchanges, including EVM, Bitcoin, Solana, Sui, and Zcash.After selecting tokens, chains, and quantities, the system requests quotes and sorts them by the best price or fastest completion, refreshing quotes every 20 seconds. Before signing, it displays the minimum received amount, network fees, HyperDex fees, and estimated completion time; standard transfer fees are 0.50%, private exchanges are 0.75%, and protocol fees are deducted from the sent tokens. On-chain settlements are reportedly completed atomically, and any slippage beyond the limit will roll back; if a cross-chain bridge is completed but the target chain exchange fails, users will receive the bridged assets on the target chain. The routing contracts are claimed to be audited, open-source, and have a bug bounty program.

Six informed sources stated that banking regulators are intensifying efforts to curb the escalating risks associated with artificial intelligence. Some of these individuals pointed out that cyberattacks on banks or uncontrolled intelligent agents could undermine global financial stability.

According to South Korean media etoday, the Financial Intelligence Unit (FIU) of the Financial Services Commission of South Korea stated that the Korea Communications Commission has decided to implement domestic access blocking or termination measures against 27 virtual asset operators' websites, including KuCoin, MEXC, BingX, Phemex, XT.com, Bitrue, CoinW, Poloniex, BTCC, and BitMart, which have not reported in accordance with the law.This initiative expands the scope of restrictions on unreported operators from mobile application markets to internet web pages.

Investment bank TD Cowen's Washington research group Managing Director Jaret Seiberg stated in a report released on Monday that the proposed rulemaking advance notice issued by the CFTC last week is a positive step for crypto platforms, but the agency may not complete the rulemaking until early 2028. As the 2028 election cycle approaches, there is a risk that the rule may ultimately not be implemented. Seiberg noted, "Time is running out," and expects that the CFTC will not issue proposals until the end of the first quarter or early second quarter of 2027, with final rules possibly not being finalized until early 2028.Last week, the CFTC proposed a federal regulatory framework for crypto platforms but avoided direct jurisdiction over spot market trading. According to Seiberg, the proposed rules will require platforms to maintain "reserve proof audits" and grant the CFTC jurisdiction over state-licensed platforms. Previously, the U.S. Senate failed to pass legislation that would grant the CFTC broad powers over spot crypto trading in a preliminary vote, leading the CFTC and SEC to intervene in regulating the crypto industry, including the introduction of long-awaited innovation exemptions, but both agencies lack the permanence that legislation could provide.Seiberg also pointed out that if the CFTC decides to expedite the rulemaking process, it may actually increase the risk of court intervention. He stated that speeding up this process would raise the risk of judges blocking the rule on procedural grounds, and even if the agency is cautious enough, legal challenges could extend beyond 2028.

AI computing power operator KONST has completed a $30 million Series B financing round, led by ADATA Technology, with strategic investments from M Mobility and other venture capital firms.The new funds will be used to expand the construction of its AI data centers and accelerate the Token factory strategy.

According to GMGN market data, the market capitalization of the Solana ecosystem meme coin BATON briefly surpassed 20 million USD, reaching a historical high, currently reported at 19.74 million USD, with a daily increase of over 53%.In terms of related narratives, the name BATON originates from Pump.fun's predecessor Baton Corporation, and is viewed by the community as a meme coin related to the early corporate identity of Pump.fun. Meme coin prices are highly volatile and easily influenced by market sentiment and trending events, please be aware of trading risks.

Caroline Pham, Chief Legal Officer of MoonPay and former Commissioner of the U.S. Commodity Futures Trading Commission (CFTC), stated that cryptocurrency regulation does not require congressional legislation and can be advanced solely through rules established by regulatory agencies.She mentioned that the regulatory jurisdiction of the CFTC is nearly all-encompassing, as the Commodity Exchange Act stipulates that almost all items, except onions and movie box office revenues, fall under the category of commodities.

The European Union is reviewing MiCA, with related consultations involving the requirement for developers of non-custodial Bitcoin wallets to obtain certification before providing software to the public. The European Securities and Markets Authority (ESMA) stated that open-source development, self-custody, automated smart contracts, and permissionless infrastructure should not automatically be considered regulated intermediaries.At the same time, ESMA proposed establishing new regulated services for crypto asset service providers that offer customers access to decentralized protocol services. This review has not changed the current rules, and the European Commission will assess the relevant opinions and submit a review report by June 30, 2027, in accordance with Article 140 of MiCA.

According to South Korean media Dailian, the Digital Asset Exchange Alliance (DAXA) has released the "2026 Digital Asset Policy Compilation." Professor Zhao Zaiyu from Hanyang University pointed out that since the ICO ban in 2017, domestic cryptocurrency projects in South Korea have continuously moved their issuance entities and business foundations overseas due to regulatory gaps. The token issuance of Klaytn is handled by a Singaporean entity, and Wemade's WEMIX is also issued by a Singaporean entity. Subsequently, Metabora moved to Dubai, and NeoFin relocated its foundation to Abu Dhabi, with the trend of industry outflow continuing to intensify.Experts indicate that the core obstacles are the regulatory gaps between domestic and foreign issuers and the difficulties in opening corporate bank accounts. They emphasize that "what Korea needs is not looser regulations, but clearer rules," calling for the Digital Asset Basic Law to clarify the licensing standards for issuance, custody, verification, and other business activities, and to establish special procedures for the return of core functions from overseas to the domestic market.

According to a report by the Korean News Agency, the Chairman of the Financial Services Commission, Lee Ik-yeon, stated that the provisions regarding the shareholding restrictions for major shareholders of virtual asset exchanges in the ongoing "Digital Asset Basic Law" are not influenced by specific individuals, but rather consider the need for exchanges to bear higher public responsibilities after institutionalization.Lee Ik-yeon mentioned during the National Assembly's Political Affairs Committee Financial Committee's national governance inspection that currently, South Korean virtual asset exchanges operate under a system of updating declarations every three years. However, after the implementation of the "Digital Asset Basic Law," exchanges will transition to a licensed institutional operation model. He noted that exchanges have infrastructure attributes, thus requiring public nature and responsibility that match their status.Previously, South Korean lawmakers questioned why the original proposal from the Financial Services Commission did not include shareholding restrictions for major shareholders, whether the relevant provisions were influenced by external factors, and pointed out that if enforced, major shareholders and potential acquirers of South Korean exchanges might need to sell shares worth trillions of Korean won.In response, Lee Ik-yeon stated that the government is currently drafting relevant legislation, and the specific content of the shareholding restrictions can be further coordinated during the National Assembly review process, emphasizing that all opinions will be fully reflected in the design. He also mentioned that the government proposal for the "Digital Asset Basic Law" is undergoing final coordination and will be submitted as soon as possible, although no specific timeline has been announced.