1. Shanghai Backs Blockchain and AI for Yangtze Delta Scientific Data Sharing link
Pursuant to the Trial Measures for the Administration of Shanghai Scientific Data, the Shanghai Municipal Science and Technology Commission and the Shanghai Municipal Bureau of Data propose to encourage the adoption of artificial intelligence, blockchain, privacy-preserving computation and other technologies to establish a development, utilization and open sharing mechanism for scientific data featuring discoverability, authorizability, traceability and evaluability, so as to promote the sharing and utilization of scientific data across Shanghai and the Yangtze River Delta region. This policy mainly targets scenarios such as research data management, authorized circulation and trusted traceability, and does not cover cryptocurrency trading or digital asset issuance.
2. CAC Bans Virtual Currency and Exchange Terms in Blockchain Filing Names link
The Cyberspace Administration of China has released the Summary of Frequently Asked Questions on Blockchain Information Service Filing, clarifying that the names of blockchain information services for filing shall not include terms such as “virtual currency”, “exchange” and “ICO”. The document states that filing applications will be affected in cases involving virtual currency issuance, trading, ICO and other businesses, overseas server deployment, incomplete ICP filing, unclear materials or inconsistent information. In addition, operators that provide BaaS services including underlying blockchain infrastructure, node services and data storage certification for external entities shall also complete the blockchain information service filing procedures.
3. Tencent Recruits Cross-Border Payments PM for Digital Assets and Onchain Design link
Tencent is recruiting a financial product manager specializing in cross-border payment. Job responsibilities include conducting overseas market research based on distributed ledgers and digital assets, designing zero-fee, key custody and recovery functions with account abstraction, developing fiat currency circulation and conversion logic, and translating regulatory requirements such as identity verification, anti-money laundering and transaction information transmission into product workflows. The candidate is required to have over five years of product experience in wallets, exchanges, payment or electronic wallet products, and be familiar with mainstream public blockchains, smart contracts and multi-chain asset management.
4. Russian Exchanges May Trade Crypto From Nov 22 After Rule Approval link
The Central Bank of Russia stated that Russian exchanges may conduct cryptocurrency trading starting November 22, 2026, provided that trading rules are agreed with regulators in advance. The relevant directive has been registered with the Ministry of Justice of Russia. Exchanges must register trading participants including brokers, fiduciary managers and central counterparties, keep records of orders and executed transactions, monitor trades, calculate spot prices, weighted average prices, market prices and closing prices, and submit transaction details and outcomes to the Central Bank in accordance with existing reporting procedures for other assets.
5. Nomura Holdings Eyes Sale of Crypto Unit Laser Digital, Marex Weighs Bid link
Nomura Holdings of Japan is considering selling its crypto subsidiary Laser Digital Holdings AG and has contacted potential buyers, with Marex Group evaluating the acquisition. No final decision has been made, and Nomura may select other buyers or retain the business. Founded in 2022 and headquartered in Zurich, Laser Digital mainly provides crypto asset trading, asset management and venture capital services for institutional investors. Hit by sharp swings in the crypto market, the company recorded substantial losses, dragging Nomura’s European business into a quarterly loss, after which management tightened risk controls. Laser Digital recently obtained a crypto asset trading service license in Japan and secured conditional approval for a US national trust bank license in May this year. While Nomura is weighing the sale of this business, Japan is moving forward with the launch of cryptocurrency ETFs and cuts to relevant investment income tax rates, with the first batch of ETFs potentially rolled out as early as next year.
6. BitRiver Founder Files Bankruptcy, Banks Claim 773M Rubles link
Promsvyazbank (PSB Bank) of Russia has filed an application with the court to declare Igor Runets, founder of Russia’s largest Bitcoin mining firm BitRiver, personally bankrupt to recover approximately 773 million rubles. PSB stated that Runets provided a guarantee for a loan taken by BitRiver-B, an affiliate under BitRiver. Since the borrower failed to repay the debt on schedule, Runets must bear joint and several liability. In February this year, Runets was placed under house arrest by the court on suspicion of concealing funds or assets that could be used to recover unpaid taxes. At present, some companies within the BitRiver group have also entered bankruptcy observation proceedings.
7. Korea Won Stablecoin Law Sparks Banking Dispute; BDACS Seeks Non-Bank Issuer Access link
Ryu Hong-yeol, CEO of South Korean digital asset custodian BDACS, called for the qualification to issue KRW stablecoins not to be limited to bank-led entities at a parliamentary seminar on November 12. Eligible fintech and digital asset firms should also be permitted to issue such stablecoins. There is ongoing debate in South Korea over stablecoin issuers. One proposal requires banks to hold more than 50% equity in the issuing consortium. Ryu argued that this could stifle innovation among fintech companies. Regulators should focus on reserve asset management, control over minting and burning authority, and independent audits rather than the type of issuing entity.
8. Kazakh Central Bank Plans Tokenized Government Bonds in Q1 2027 link
Timur Suleimenov, Governor of the National Bank of Kazakhstan, stated that the central bank plans to collaborate with the Ministry of Finance to issue tokenized government bonds as early as the first quarter of 2027. Earlier this month, the National Bank of Kazakhstan completed its first issuance of tokenized central bank bills via the Kazakhstan Stock Exchange (KASE). Among the total 500 billion tenge (approximately 112 million US dollars) in 91-day bills, a tokenized tranche worth 100 billion tenge (approximately 22.3 million US dollars) was included, with a weighted average yield of 15.72% and an overall subscription multiple of 1.4. It is reported that the KASE digital asset platform is built on the Solana blockchain with BitGo providing custody infrastructure, though neither party has confirmed their participation in the upcoming government bond issuance.
9. Hong Kong SFC and HKMA Forum Targets Tokenized Commercial Adoption link
The Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA) of Hong Kong co-hosted an industry seminar yesterday, attracting more than 200 financial practitioners to discuss the transition of Hong Kong’s tokenisation ecosystem from pilots to commercial adoption. Following the recent launch of 24/7 secondary market trading for tokenised public funds by licensed platforms and the progress of EnsembleTX in enabling 24/7 settlement for interbank tokenised deposits, the seminar focused on secondary market liquidity, corporate treasury management and infrastructure optimisation. Regulators emphasised that they will connect tokenised products, digital currencies and financial infrastructure to facilitate interoperability and accelerate commercial adoption.
10. Thailand Launches WORPT Travel App to Convert Crypto into Baht Spending link
Thai payment app WORPT has launched cryptocurrency exchange and payment services for foreign tourists, allowing visitors to convert crypto assets such as USDT and USDC into Thai baht and make purchases at shops and restaurants via local PromptPay QR codes without opening a Thai bank account. Co-developed by e-payment provider Wipay and licensed crypto exchange Waan Exchange, the service operates under the TouristDigiPay regulatory sandbox of the Securities and Exchange Commission (SEC) of Thailand. Wipay projects that the service will attract 200,000 users in its first year and generate approximately 440 million US dollars in spending during the 18-month pilot period.
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