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According to the official account of the Linyi City Media Center, the Linyi authorities have issued a risk warning, exposing two major illegal financial scams: "Global Securities Exchange" and "Savings Project" APP.Among them, the "Global Securities Exchange" project promotes high returns, enticing the public to invest in and purchase virtual currencies. Participants are advised to withdraw as soon as possible to prevent losses. The notice issued by the People's Bank of China and other departments regarding further prevention and handling of risks related to virtual currencies clearly states that virtual currencies do not have the same legal status as legal tender.

According to Observer Network, Zhang Qingyu, the abbot of Donglin Temple in Yilan, Taiwan, and his son Zhang Weifu, who has already become a monk, are suspected of embezzling donations. During the investigation, officials searched the temple and dug up more than ten iron boxes hidden underground in the gravel outside the meditation room, with a market value exceeding 330 million New Taiwan Dollars (approximately 7 million USD).The investigation shows that temple funds were transferred to private accounts and laundered through the purchase of virtual currencies and gold and silver. The case is still under investigation.

The Governor of the People's Bank of China, Pan Gongsheng, reported to the Standing Committee of the National People's Congress on the financial work situation since October 2025 at the 25th meeting of the 14th National People's Congress Standing Committee, entrusted by the State Council. It was pointed out that the positioning of the digital renminbi has smoothly transitioned from cash to deposit currency.In terms of preventing and resolving financial risk hidden dangers, a new round of crackdown on illegal and criminal activities in the financial sector related to "black and gray industries" has been launched, completing a nationwide special action against illegal fundraising. The regulatory policy framework for virtual currencies has been improved, strengthening the analysis of clues related to underground money laundering involving virtual currencies, and establishing a normalized mechanism for the rectification of the entire chain of virtual currency "mining." Strengthening the regulation of real-world asset (RWA) tokenization.

On November 6, the Hong Kong Securities and Futures Commission released a consultation summary, proposing to further restrict unregulated entities from using names that may mislead the public into believing they are regulated, and plans to extend these restrictions to the virtual asset sector.According to the proposed amendments, Hong Kong will introduce similar restrictions under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance, focusing on virtual asset trading platforms, as well as virtual assets that are unrelated to securities or futures contracts but can be traded or settled through virtual asset trading platforms. Unauthorized entities will be subject to restrictions on the use of relevant titles to prevent the public from mistakenly viewing them as regulated entities. The related proposals have received broad support from the market.The Securities and Futures Commission stated that it will further finalize the draft amendments to the Securities and Futures Ordinance and the Anti-Money Laundering Ordinance, and submit them to the Legislative Council for review and approval.

According to the "Regulations for the Operations of Non-Security Virtual Assets in Nigeria" published by the Central Bank of Nigeria (CBN) on November 5, 2026, the CBN will regulate non-security virtual assets and stablecoins used for payment, settlement, and exchange purposes, while securities will still fall under the jurisdiction of the Securities and Exchange Commission (SEC).Foreign currency-pegged stablecoins (Class 2) must be issued by locally licensed entities in Nigeria, with a minimum paid-up capital of 15 billion Naira (approximately 11.16 million USD); the minimum for Naira-pegged Class 1 issuers is 10 billion Naira; entities providing other non-security virtual asset services must have at least 1 billion Naira in capital, and those already holding an SEC license cannot double count towards CBN capital requirements.P2P business facilitated by platforms must obtain special approval from the CBN, and before releasing or crediting regulated tokens, the names on the Naira payment accounts must be verified to match the Bank Verification Number (BVN). Categories such as algorithmic stablecoins are prohibited, and the boundaries of responsibilities between CBN and SEC are defined.

According to Hongxing News, the individual involved in the incident of "Tsinghua graduates studying at University College London (UCL) being scammed" revealed that he was scammed for nearly 45 days. On the day he arrived in the UK and checked into his dormitory, he received a call from a number displayed as "Embassy," claiming that his phone number had sent a large number of harassment and fraud messages, and transferred him to so-called "cyber police." The caller accurately reported his personal information, requested him to download video software, and displayed materials such as police identification, arrest warrants, and confessions.Several "cyber police" bombarded him with information for more than three hours while he was still adjusting to the time difference and was physically and mentally exhausted, causing him to lose his judgment. Subsequently, the so-called "Interpol" led him to mistakenly believe he was assisting in an investigation into an international money laundering case and made him sign a so-called confidentiality document. For the first two weeks, they continued to strengthen control, requiring him to maintain a phone call 24 hours a day and turn on video for online monitoring, while also restricting his social interactions under the guise of investigation confidentiality.They ultimately induced him to purchase digital currency and transfer it to a designated account, and even made him deceive his family into transferring money for the so-called case, claiming it would be returned after the case was closed. He was also coerced into downloading foreign encrypted chat software to register an account for purchasing virtual currency. After returning to his home country, he discovered that during the period he was out of contact, the scammers had used his credit card to purchase tickets to other destinations. He reminded the public to pay more attention to anti-fraud campaigns, as scammers exploit time differences and information gaps to set traps.

The Financial Action Task Force (FATF) released a new report titled "Combating the Full Chain of Illegal Fund Flows Related to Scam Hubs," calling on countries to take globally coordinated action to dismantle scam parks and their criminal networks.The report points out that criminals use channels such as cash, virtual assets, and instant payment platforms to launder money, and leverage AI, deep forgery, and automation technologies to scale up their operations. Among these, virtual assets have become the core channel for money laundering; in some cases, scam hubs even have dedicated over-the-counter trading counters for handling virtual asset exchanges and domestic fund transfers.In one case, blockchain analysis revealed that the total amount of funds sent in by victims exceeded $100 million, ultimately flowing into a cluster of virtual asset wallets associated with a particular scam hub.To address this, the FATF proposed six core principles, including focusing on a broader criminal ecosystem, end-to-end disruption of illegal fund flows, enhancing interdepartmental information sharing and cooperation, rapid cross-border action (especially within 24-72 hours after an incident), a victim-centered approach, and continuously adapting to changes in criminal methods.

The Acting Secretary for Financial Services and the Treasury of Hong Kong, Chen Haolian, stated that international virtual asset trading platforms can apply for licenses from the Securities and Futures Commission as long as they meet the relevant statutory requirements and regulatory requirements of the Securities and Futures Commission. The Hong Kong Securities and Futures Commission and the Invest Hong Kong have also been in contact with these international platforms to introduce Hong Kong's regulatory requirements and market opportunities.Chen Haolian also mentioned that the Hong Kong Securities and Futures Commission will submit a bill to the Legislative Council by the end of this year to amend the Anti-Money Laundering and Counter-Terrorist Financing Ordinance.

According to a report by the Korean News Agency, Dunamu, which operates the virtual asset exchange Upbit, will participate in the "2026 National Assembly Legislative Expo" held at the National Assembly in Yeouido, Seoul, for two days starting from November 5.Dunamu is showcasing under the slogan "The value of digital assets, safely passed on to the next generation," proposing improvements to the system to protect virtual asset inheritance that is currently in a regulatory blind spot. Its core task is to quickly protect the virtual assets of the deceased and make it easier for heirs to locate them.A related person from Dunamu stated that virtual assets are still in a regulatory protection blind spot during the inheritance process and hopes that this policy proposal will serve as an opportunity to establish a foundational system.

According to Digital Asset, the Financial Services Commission of South Korea announced that it will formulate new guidelines requiring virtual asset service providers to immediately notify the Financial Supervisory Service and the Financial Security Institute upon discovering security incidents. Currently, these companies only need to report to the Korea Internet & Security Agency. Financial authorities believe that as virtual assets become increasingly intertwined with the financial industry, it is necessary to quickly convey incident information to financial regulatory bodies for investigation, information sharing, and consumer protection.Financial authorities also plan to establish the Digital Financial Security Act, which will apply security regulations comparable to the current Electronic Financial Transactions Act to virtual asset service providers, insurance agencies, and the lending industry, which hold a large amount of customer information or could cause significant asset losses. The legislation is planned to be completed and submitted in the first quarter of 2027. In addition, South Korea will conduct comprehensive security inspections of approximately 580 financial companies, including virtual asset service providers.

According to a Yellow Card announcement, the company completed the acquisition of the Brazilian virtual asset service provider GoMoney in October, with the transaction amount undisclosed. GoMoney was established in 2018 and is headquartered in São Paulo. After the acquisition, it will continue to be operated by the founding team as a wholly-owned subsidiary of Yellow Card.This acquisition allows Yellow Card to directly conduct business in Brazil for the first time, providing customers with local payment and receipt services in Brazilian Real, including Pix, and settling in stablecoins. GoMoney has applied to the Central Bank of Brazil for a virtual asset service provider license and will continue to operate under a transitional system during the approval period.

According to a case published by the People's Court of Fusui County, Guangxi, in 2020, a couple in their seventies, referred by an acquaintance, participated in an overseas virtual currency mining machine financial management project, initially investing 4,200 yuan and successfully recovering the principal, followed by additional investments of over 60,000 yuan.In December 2020, the involved platform was shut down, and the funds could not be withdrawn. In early 2026, the couple sued the investment introducer and the actual operator, demanding the return of all investment funds and interest.The court found that the virtual currency investment behavior involved violated relevant financial regulatory provisions and contravened public order and good morals, rendering the entrusted financial management contract invalid. The investment losses primarily stemmed from the illegality of virtual currency trading itself and platform risks, rather than being directly caused by the actions of the trustee. Based on this, the court dismissed the plaintiff's lawsuit, and the second instance upheld the original judgment, which has now taken effect.

According to the Hong Kong News Bulletin, the main forum of Hong Kong FinTech Week x StartmeupHK 2026 concluded on November 3 at the Hong Kong Convention and Exhibition Centre. The Deputy Secretary for Financial Services and the Treasury, Chan Ho Lam, stated: "Certainty plays a key role in innovative development. Under the direction of the 'Hong Kong Digital Asset Development Policy Declaration 2', we will establish a licensing system for virtual asset trading, custody, advisory, and management services, and submit a draft amendment to the Legislative Council in 2026 to clarify the compliance path for the market."In addition, during the panel discussion, the Chief Executive Officer of the Securities and Futures Commission, Ashley Alder, elaborated on the SFC's strategic vision, pointing out that artificial intelligence and tokenization will empower the development of Hong Kong's financial market, but it is essential to protect investors and maintain market integrity at the same time. Ashley Alder also noted that in the face of increasingly severe threats related to artificial intelligence, the industry must enhance cyber resilience. Regarding tokenization, she believes that achieving true scale effects hinges on integrating it into market operations, bringing substantial benefits through improved efficiency, accessibility, liquidity, and settlement speed. The Chief Executive of the Hong Kong Monetary Authority, Eddie Yue, stated that Hong Kong has the advantage to seize new growth opportunities brought by financial technology. With the good progress made under "FinTech 2030," banks and fintech companies will be able to utilize data, artificial intelligence, tokenization, and other emerging technologies more effectively.

According to a report by the Korean News Agency, members of the Democratic Party in the National Assembly's Finance and Economy Committee have decided to recommend to the party leadership to postpone the taxation of virtual assets originally scheduled to be implemented next year.After a party consultation meeting, the ruling party's secretary Woo Gi-hyung stated that the majority opinion among the committee members leans towards postponing it for about 2 years.

According to PR Newswire, the global payment and cash management platform Sunrate launched the Sunrate Agentic Card during Hong Kong FinTech Week. This is a programmable multi-currency corporate virtual card aimed at AI Agents, allowing AI Agents to autonomously create virtual cards, initiate payments, and query transaction results within preset authorizations and rules. It has currently obtained Mastercard Agent Pay certification.

The Supreme People's Procuratorate released typical cases of legally protecting citizens' personal information, two of which are related to the cryptocurrency industry. In Case One, Wang and 11 others established a chain of "finding downstream buyers domestically --- obtaining personal information from abroad --- reselling at a markup domestically," paying for purchases to foreign upstream sources with virtual currency, and reselling information such as citizens' household registration, property status, and tracking trajectories, with an amount involved exceeding 1.98 million yuan. The court sentenced each defendant to imprisonment ranging from three years and six months to eight months, and imposed fines.In Case Seven, Lin and 21 others illegally obtained over 870,000 pieces of personal information of job applicants under the guise of recruitment, through online recruitment platforms and by bribing corporate human resources personnel, selling it to foreign entities for profit. The illegal gains were settled in virtual currency and then exchanged for RMB, with an amount involved exceeding 7.46 million yuan. The court sentenced each defendant to imprisonment ranging from five years and three months to six months, and ordered them to bear civil liabilities such as public welfare damage compensation.

According to a report by the Korean News Agency, the Bank of Korea (central bank) has begun monitoring the market, requesting banks and securities companies to provide updates on their virtual asset-related businesses and assessments of related risks. On the 23rd of last month, the Bank of Korea sent relevant requests to 18 banks (including the five major banks: KB, Shinhan, Hana, Woori, and NH Nonghyup) and 13 securities companies, asking them to participate in the "Survey on the Current Status of Financial Institutions Entering the Virtual Asset Market."The survey covers the organizational structure and budget of each institution regarding virtual assets, the current status of market access, assessments of business-related risks, and risk management measures. The survey also addresses the potential impact on financial institutions if a major event occurs at the largest virtual asset exchange in the domestic market (such as a large-scale hacking attack leading to temporary operational disruption). Additionally, the survey focuses on other risk scenarios, such as significant price declines of virtual assets like Bitcoin, continuous shrinkage of trading volume, or other financial institutions suffering substantial losses due to virtual asset-related events.

According to a report from Xinhua News Agency, the Central Committee of the Communist Party of China pointed out in its decision on several major issues regarding the persistent promotion of comprehensive and strict governance of the Party that it is necessary to unswervingly advance the integrated approach of not daring to be corrupt, being unable to be corrupt, and not wanting to be corrupt, and to resolutely combat corruption behaviors carried out through the use of the internet, virtual currency, cross-border funds, blockchain, and other means.

Hong Kong Interbank Clearing Limited disclosed the discovery of a fraudulent website that imitates its official website, luring users to recharge and withdraw through virtual wallets, and claiming to provide Fast Payment System (FPS) online transaction security support, including refunds, reporting unauthorized online transactions, and transaction support.Hong Kong Interbank Clearing Limited emphasizes that, under normal circumstances, it will not directly provide Fast Payment System services to individual members of the public, nor will it proactively contact individual members of the public. Do not provide personal or banking information to the related website.

According to the official account of the Supreme People's Procuratorate, a recent case involving U Coin fraud was heard in Xuzhou, Jiangsu, where Wang and others defrauded the victim, Xiao, of 1.2 million yuan under the pretense of purchasing U Coin. The case was initially transferred for prosecution on suspicion of robbery, but the procuratorial authority believed that Wang and others had meticulously set a trap, using false transactions as bait to essentially defraud the victim of U Coin, which constituted fraud. Therefore, they filed a public prosecution with the court.During the trial, the defense attorney presented arguments that the defendants constituted contract fraud. Whether the case is classified as fraud or contract fraud will result in significant differences in sentencing. The prosecutor pointed out that the criminal law stipulates that contract fraud is aimed at maintaining market order, and the contract content must reflect the attributes of a socialist market economy. Virtual currency transactions are illegal financial activities explicitly prohibited by the state and do not fall within the regulatory scope of contract fraud.