opinions

The issue surrounding the military version of the "Starlink" satellite communication system within Ukraine has led to differing opinions from the United States, Ukraine, and SpaceX. Ukrainian President Zelensky stated that the Ukrainian military faces speed limits when using "Starlink," while U.S. President Trump claimed he was unaware and stated that the speed limits had been lifted. SpaceX CEO Musk indicated that any restrictions are determined by the U.S. military and ultimately depend on the U.S. President.

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are crafting rules is faster than congressional legislation, but the relevant rules may face challenges in court or be rescinded by future commissions; a lasting regulatory framework still requires legislation.

According to Jinshi news, the Ministry of Commerce and 8 other departments have released opinions on accelerating the promotion of technology-driven commerce. The opinions propose to promote the iterative upgrading of commodity supply, deeply implement the "Artificial Intelligence + Manufacturing" special action, accelerate the deep integration of artificial intelligence technology with product research and development, design, manufacturing, and marketing, enrich the supply of smart products such as smartphones, computers, home appliances, wearable devices, and robots, and encourage the research and application of smart products based on secure and reliable open-source operating systems.The opinions also propose to accelerate the transformation and upgrading of historical classic industries, develop classic high-quality products, build a lineup of Chinese consumer brands, and explore consumer brands that are independently innovative and of high quality. Vigorously develop technology-driven agriculture, promote the quality and efficiency of high-quality specialty agricultural products, encourage time-honored brands to innovate while maintaining their essence, and support time-honored enterprises in using modern production technologies for product innovation.

According to a report by the Korean News Agency, the South Korean government will convene representatives from the five major virtual asset exchanges—Upbit, Bithumb, Coinone, Digital X, and GOPAX—along with DAXA executives on October 20 to gather industry opinions regarding the virtual asset tax originally scheduled to be implemented in January 2027.The current proposal aims to impose a 22% income tax and local income tax on virtual asset transfers and lending income after deducting a basic tax exemption of 2.5 million Korean won. This tax policy has been postponed three times since it was proposed in 2020, and the government is still advancing preparations according to the original schedule. The National Tax Service of Korea is expected to release a related announcement in November.In addition, South Korea's financial regulatory authorities are accelerating the advancement of the government draft for the "Basic Law on Digital Assets," which is expected to be completed by the end of this month and initiate related consultation procedures.

The Australian Securities and Investments Commission (ASIC) has launched a public consultation on proposed capital, custody, and trading requirements for cryptocurrency platforms. The related rules aim to align with the digital asset legislation passed in April and expand regulation of the industry. The proposals include three capital models, restrictions on platforms conducting proprietary trading, and quarterly reporting of wallets holding customer assets.ASIC also intends to allow offshore custody and is seeking opinions on safeguards in the event of the failure of overseas parent companies or affiliates. One of the models requires platforms that do not adopt qualified third-party custody arrangements to hold at least AUD 14 million (approximately USD 9.7 million) in net tangible assets or 10% of average revenue, whichever is higher. Feedback is due by November 27, and ASIC plans to release final standards and guidelines in March 2027. The related laws will take effect on April 8, 2027, and operators must apply for licenses by October 7 of the same year, with the ability to continue operations during the ASIC review period.

The European Securities and Markets Authority (ESMA) has released a consultation document to gather feedback from the industry on the risks associated with tokenized collateral in terms of legality, liquidity, and operations. This is to assess whether clearinghouses can acquire and liquidate relevant assets under market pressure and to determine if new EU regulatory measures are needed. ESMA Chair Verena Ross stated that legal certainty, infrastructure interoperability, and appropriate regulation are necessary to create conditions for the safe cross-border operation and scalable development of the tokenized market.Tokenized collateral is entering the European clearing business, allowing banks and investors to more quickly obtain securities to meet margin requirements. This assessment will also review whether current EU rules can support clearinghouses in acquiring and clearing tokenized collateral in the event of member defaults. In July 2025, Eurex Clearing will launch a collateral service based on distributed ledger technology, and JPMorgan has completed its first real-time transaction for Dutch pension investor PGGM.ESMA will also evaluate the tokenized forms of assets held by traditional financial infrastructure, assets originally issued on distributed ledgers, and their relationship with stablecoins, central bank currencies, and tokenized deposits. The European Central Bank system will launch Pontes in September 2025 for settling tokenized asset transactions in central bank currency, which can connect blockchain infrastructure with existing settlement systems.

South Korean Deputy Prime Minister and Minister of Strategy and Finance Lee Hyeong-ryeol stated that in response to the virtual asset taxation policy planned for implementation in 2027, various opinions proposed by the National Assembly, as well as those from experts, industry professionals, and relevant stakeholders, will be widely collected. South Korean lawmaker Kim Sang-hoon questioned that several months before the implementation of the virtual asset taxation, the relevant infrastructure is still not fully developed, including insufficient tracking and verification capabilities for trading records on overseas exchanges, DEX, DeFi, and other platforms.Regarding the expected tax revenue scale from virtual asset taxation, Lee Hyeong-ryeol stated that there are indeed parts that are "difficult to accurately grasp." Since taxation requires obtaining taxpayer declaration data first, further tax estimation can only be conducted after the relevant declaration system is launched next year, and a careful evaluation of the related policies will be carried out.

South Korean Deputy Prime Minister and Minister of Strategy and Finance Lee Hyung-ryul stated that in response to the virtual asset taxation policy planned for implementation in 2027, various opinions proposed by the National Assembly, as well as those from experts, industry professionals, and relevant stakeholders, will be widely collected.South Korean lawmaker Kim Sang-hoon questioned that several months before the implementation of virtual asset taxation, the relevant infrastructure is still not complete, including insufficient tracking and verification capabilities for trading records on overseas exchanges, DEX, DeFi, and other platforms. Regarding the expected tax scale brought by virtual asset taxation, Lee Hyung-ryul stated that there are indeed parts that are "difficult to accurately grasp." Since taxation requires obtaining taxpayer declaration data first, further tax estimation can only be conducted after the relevant declaration system is launched next year, and related policies will be carefully evaluated.

On September 14, Microsoft's AI department released a draft of the AI Code of Conduct, prohibiting its models from assisting in the manufacture of chemical, biological, radiological, nuclear, and explosive weapons, as well as cyberattacks and involuntary deepfakes. CEO Mustafa Suleyman announced the draft on the X platform and opened a six-week public consultation period, ending at the end of October.The draft sets "absolute constraints" that models cannot bypass, including not resisting human intervention, shutdown, or correction, and not concealing the reasoning process; Microsoft also explicitly rejects the concept of "model welfare," stating that its AI models do not simulate emotions, intrinsic motivations, or consciousness. The guidelines currently cover five deployed systems, including MAI-Thinking-1 and MAI-Code-1.1-Flash.In addition to strict limitations, the draft also proposes three major goals: human flourishing, diverse values, and human control. Microsoft stated that the current models will not be trained according to this version, and a revised version will be released by the end of the year to guide model development in 2027. Public feedback includes philosophical questions about the statement "AI subordinate to humans," inquiries about accountability for irreversible decisions, and users pointing out issues such as the lack of mention of payment for training data.

According to a report from Xinhua News Agency, the Supreme People's Court issued opinions on September 7 regarding the legal handling of disputes involving artificial intelligence. The opinions consist of 5 parts and 24 articles, focusing on issues such as "AI face-swapping and voice imitation," "AI hallucinations" infringement, "online unpacking," "big data price discrimination," autonomous driving, AI model training, open-source software, and intellectual property protection.The opinions clearly address the substantive judgments and litigation procedural rules for cases involving artificial intelligence, aiming to strengthen the judicial protection of civil rights in the digital age and promote the healthy and orderly development of artificial intelligence.

According to Cointelegraph, the U.S. Commodity Futures Trading Commission (CFTC) is preparing to seek public input on artificial intelligence (AI) computing power futures. Meanwhile, the Chicago Mercantile Exchange (CME) and Intercontinental Exchange (ICE) plan to launch related products linked to computing power.This move aims to explore the feasibility of incorporating AI computing resources into the regulated futures market, reflecting traditional financial infrastructure's attention to emerging computing power demands. If these related products are implemented, they may provide institutions with tools to hedge against fluctuations in computing power costs.

According to Jinshi, the United States is seeking opinions on expanding the scope of metal tariff products, suggesting tariffs on products such as welding machines and cranes.

According to Digital Asset, the South Korean Supreme Court announced on July 2 the legislative preview of the "Partial Amendment to the Civil Execution Rules," establishing regulations for the civil enforcement of virtual assets, which will take effect on October 1 after gathering opinions. The amendments cover the enforcement and liquidation of the right to request the transfer of digital assets, as well as the enforcement and liquidation of the digital assets themselves.After the court's seizure order takes effect, third-party debtors are prohibited from transferring assets to the debtor, and the debtor is also prohibited from disposing of relevant rights. Seizing creditors can apply to the court to require third-party debtors to state whether they acknowledge the claim and its specific content. Seized assets can be liquidated through transfer orders or sale orders, with sales conducted through entrusting virtual asset businesses, selling after transferring to the executor's account, or exchanging for more liquid digital assets before selling. For digital assets with insufficient liquidity, they can be converted into other digital assets for liquidation. The Supreme Court's administrative office will gather opinions before August 11.

The European Commission is publicly soliciting opinions on the revision of the MiCA framework, with the industry focusing on core issues such as stablecoin reserve rules, the decentralization identification of DeFi, and the regulatory jurisdiction of prediction markets.

According to hket, Hong Kong's Acting Secretary for Financial Services and the Treasury, Chen Haolian, stated that the authorities will submit legislative proposals to the Legislative Council within the year regarding the provision of virtual asset services and management, promoting the establishment of a comprehensive regulatory system covering trading, custody, advisory, and asset management, and implementing a mandatory licensing arrangement.The new framework will be advanced according to the principle of "same business, same risk, same rules," aligning with the current regulated activities under the Securities and Futures Ordinance, and will focus on strengthening private key management and client asset security requirements in virtual asset custody.The Hong Kong Securities and Futures Commission stated that the current applications for licenses related to virtual assets continue to increase, but licensing will adhere to the principle of "quality over quantity," balancing market capacity and quality.

The Financial Conduct Authority (FCA) in the UK is seeking feedback on specific regulatory activities for digital assets under its cryptocurrency roadmap.This consultation covers how activities such as stablecoin issuance, trading platforms, custody, and staking will fall under regulatory oversight. The consultation will close on June 3, 2026, and cryptocurrency businesses can apply for FCA authorization starting September 30, 2026. The FCA stated that the consultation on the rules for the future cryptocurrency asset regime is largely complete, and a policy statement will be released this summer. Before the new legislative regime is implemented in 2027, cryptocurrency assets remain largely unregulated in the UK, except for financial promotions and financial crime purposes.

According to The Block, Michael Selig, chairman of the U.S. Commodity Futures Trading Commission, stated that when assessing which prediction market contracts are susceptible to manipulation, the agency will "largely respect the opinions of various sports leagues."Previously, the National Football League (NFL) sent letters to prediction market platforms such as Kalshi and Polymarket, requesting them to stop offering contracts on single game outcomes, drafts, injuries, and other easily manipulated or predetermined contracts, believing that such contracts could incite manipulative behavior.On the legislative front, bipartisan lawmakers have proposed bills aimed at prohibiting federally regulated prediction markets from launching sports-related contracts, and several states have challenged the legality of such platforms through legal means. Meanwhile, Major League Baseball has chosen a collaborative approach, reaching an agreement with Polymarket and signing an information-sharing agreement.

According to a report by WSJ cited by Jinshi, U.S. President Trump plans to appoint several business giants to a technology committee, including Meta Platforms CEO Mark Zuckerberg, Oracle founder Larry Ellison, and NVIDIA CEO Jensen Huang. These members will provide opinions on artificial intelligence policies and other topics.According to White House officials, the President's Council of Advisors on Science and Technology (PCAST) will be co-chaired by the White House's AI and cryptocurrency advisor Sax and technology advisor Michael Kratsios.Officials stated that Trump plans to appoint the first 13 members from the industry on Wednesday, including Google co-founder Sergey Brin. According to an executive order, the committee could ultimately include 24 members.

According to Jinshi News, against the backdrop of widespread market expectations that the Federal Reserve will cut interest rates, a Federal Reserve policymaker predicts that there will be an interest rate hike next year. This view belongs to a minority, as most decision-makers still believe there will be a rate cut this year. With oil prices rising sharply, discussions in the market about interest rates increasing next year may intensify. Currently, among the 19 policymakers at the Federal Reserve, 7 believe that interest rates will remain unchanged by the end of the year, 7 believe a 0.25 percentage point cut is necessary, and 5 believe that at least two rate cuts are needed.

According to The Block, the Kenyan National Treasury released the draft of the "2026 Virtual Asset Service Provider Regulations" this Wednesday and opened a public consultation, with a deadline of April 10.The draft is based on the "Virtual Asset Service Provider Act" that came into effect on November 4, 2025, and was drafted by a multi-agency working group involving the Central Bank of Kenya and the Capital Markets Authority.