Regulus — The global regulatory broadcast network

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FMA Austria Digital Assets ✓ 13 claims 04 Nov 2026

FMA orders Georgian firm Senta Tech to halt unauthorised crypto portfolio management

Austria's FMA has publicly named a Tbilisi-based company it ordered to stop managing crypto-asset portfolios for Austrian clients without authorisation. The case is an early enforcement action under Austria's MiCAR implementing law and shows the FMA policing cross-border crypto services reaching into its market from outside the EU.

The FMA ordered Senta Tech (ULTIMA), operating ultima.io and utrading.com, to cease unauthorised discretionary crypto-asset portfolio management in Austria.
The administrative decision is dated 31 July 2026 and was announced in Austria's Digital Official Journal on 29 October 2026.
The firm is based at Omar Khizanishvili Street No 264, Gldani District, Tbilisi, Georgia, outside the EU.
The breach cited is Article 11 no. 3 MiCA-VVG with Article 59(1) and Article 3(1)(16)(i) of Regulation (EU) 2023/1114 (MiCAR).

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Financial Services and the Treasury Bureau Source document ↗

Hong Kong Financial Services and the Treasury Bureau Digital Assets ✓ 12 claims 02 Nov 2026

Hong Kong LegCo to resume Second Reading of crypto-asset reporting bill on November 4

Hong Kong's Legislative Council will resume the Second Reading debate on the Inland Revenue (Amendment) (Crypto-Asset Reporting Framework and Amended Common Reporting Standard) Bill 2026 at its November 4 sitting. This item tracks where the Bill sits in the legislative process and what the next procedural steps are for firms preparing for crypto-asset tax reporting obligations in Hong Kong.

The Second Reading debate on the Inland Revenue (Amendment) (Crypto-Asset Reporting Framework and Amended Common Reporting Standard) Bill 2026 will resume at the LegCo sitting on Wednesday, November 4, at 11am.
If the Bill passes Second Reading it will stand committed to the committee of the whole Council, after which it will be set down for Third Reading.
The sitting also covers two Members' motions, a proposed resolution under section 34(4) of the Interpretation and General Clauses Ordinance, and 22 questions to the Government, six requiring oral replies.

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HKMA — Hong Kong Monetary Authority Source document ↗

HKMA — Hong Kong Monetary Authority Digital Assets ✓ 21 claims 02 Nov 2026

HKMA launches agentic AI governance project and expands tokenisation trials

At Hong Kong FinTech Week 2026, the HKMA set out four initiatives under its DART framework covering agentic AI governance, post-quantum cryptography, tokenised settlement and cross-border payments. This briefing covers what each initiative commits the HKMA and industry to, and the near-term supervisory touchpoints for banks operating in Hong Kong.

The HKMA published a discussion paper seeking industry feedback on supervisory considerations for banks' use of agentic AI, under the newly launched Project SAGE.
A cross-sectoral Agentic Finance Expert Group has been established to support Project SAGE's work on governance of agentic finance applications.
The HKMA and The Hong Kong University of Science and Technology, with industry support, launched a PQC Toolkit setting out a framework and tools for banks' post-quantum cryptography transition.
Ensemble TX now enables 24/7 real-value settlement of tokenised transactions, and the HKMA has completed trial trades of secondary-market tokenised Exchange Fund Bills with Recognised Dealers, with stablecoin trials planned next.
The Faster Payment System will link with UnionPay International by the end of 2026, enabling QR code payments at over 100 million merchants across Hong Kong, the Chinese Mainland and more than 40 overseas markets.

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DOJ Criminal Division Source document ↗

United States DOJ Criminal Division Digital Assets ✓ 13 claims 30 Oct 2026

Israeli national extradited to US over $2.89M Nomad Bridge crypto theft

The DOJ has brought an Israeli defendant to the Northern District of California to answer a 2023 indictment over the exploitation of the Nomad Bridge smart contract. The case turns on a 2022 cross-chain bridge exploit and the subsequent laundering of proceeds, and shows how cross-border cooperation is being used to reach alleged crypto thieves years after the event.

Gurevich allegedly executed four exploit transactions from the Nomad Bridge on or about August 1, 2022, transferring 103 WBTC and 300 WETH.
The estimated value of the stolen virtual currency was approximately $2,894,390 at the time of the transactions.
He faces up to 10 years and a $250,000 fine for causing damage to a protected computer and for interstate transportation of stolen money, and up to 20 years and a $250,000 fine for money laundering.
He was arrested in Israel in May 2025 and recently extradited to the United States, with the DOJ's Office of International Affairs and Israeli authorities providing substantial assistance.
The FBI is investigating the case, prosecuted by Trial Attorneys Jessica Peck and Ethan Cantor of the Computer Crime and Intellectual Property Section.

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SEC Speeches and Statements Source document ↗

United States SEC Speeches and Statements Digital Assets ✓ 12 claims 29 Oct 2026

SEC official signals transfer agent role in tokenized stock trading venues

A speech by the SEC's Division of Trading and Markets director to the Securities Transfer Association lays out how the agency's recently approved tokenized securities exemption and pending transfer agent rule modernization intersect. Compliance teams at transfer agents and issuers exploring tokenization should note the specific conditions attached to the exemption and the open questions on digital identifiers and escheatment.

The SEC approved the Innovation Exemption on September 17, a five-year conditional exemption from the 'exchange' definition for Tokenized Securities Venues (TSVs).
TSVs must be U.S. persons, operate on public permissionless blockchains, and are subject to volume limits, among other conditions.
Any tokenized NMS stock traded on a TSV must carry all the same rights and privileges as the underlying security.
Commissioner Hester Peirce posed four public feedback questions on the transfer agent rule proposal, including whether transfer agents should be allowed to use digital identifiers like email or wallet address instead of name and physical address.
The SEC is seeking feedback, particularly empirical data on costs and benefits, on its proposal to modernize transfer agent rules.

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FCA Source document ↗

United Kingdom FCA Digital Assets ✓ 21 claims 29 Oct 2026

FCA secures High Court undertakings forcing HTX exit from UK crypto market

The FCA has closed its financial promotions case against HTX, the global exchange formerly called Huobi, with High Court undertakings and a confidential settlement. The exchange is no longer active in the UK, cannot take new sign-ups or deposits, and has committed not to target UK consumers. The segment covers what binds, what remains, and the signal to other offshore platforms.

Huobi Global S.A. gave undertakings not to communicate financial promotions in contravention of section 21 of FSMA 2000, covering its website, apps and social media.
The FCA commenced proceedings in the High Court on 21 October 2025 and announced the enforcement action publicly on 10 February 2026.
HTX is no longer active in the UK: UK users cannot make deposits and new UK users cannot sign up to the platform.
The settlement terms are confidential and constitute no admission of liability or wrongdoing by Huobi Global or any other entity.
UK users should consult HTX's website for arrangements to withdraw any residual assets.

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Bank of England Source document ↗

United Kingdom Bank of England Digital Assets ✓ 13 claims 29 Oct 2026

Bank of England consults on CCPs accepting tokenised collateral in clearing

The Bank of England has opened a consultation on how central counterparties can accept tokenised forms of eligible collateral. It covers a proposed Supervisory Statement clarifying how the Bank would assess such applications, and sits within the wider UK push on digital wholesale markets. Worth a few minutes for anyone running collateral, clearing or tokenisation workstreams.

The Bank of England opened the consultation on 29 October 2026, with responses due by 12 February 2027.
The Bank considers the existing regulatory framework is not a barrier to CCPs accepting tokenised eligible collateral, provided it meets central clearing standards.
Tokenised collateral must remain capable of being valued, transferred and realised when needed, including in stressed conditions.
A proposed Supervisory Statement would clarify how the Bank assesses applications involving tokenised collateral, applying same risk, same regulatory outcome.
The work is part of joint activity with the FCA, HM Treasury and industry on UK digital wholesale financial markets.

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Bank of England Publications Source document ↗

United Kingdom Bank of England Publications Digital Assets ✓ 19 claims 29 Oct 2026

Bank of England sets out expectations for CCPs accepting tokenised collateral

The Bank of England has opened a consultation on draft supervisory expectations for central counterparties that want to accept tokenised versions of collateral already eligible under the proposed UK CCP Rulebook. It creates no new regime but clarifies what the Bank expects CCPs to consider, and separately asks industry about stablecoins, tokenised money market fund units and tokenised gold as future collateral. Responses close 12 February 2027.

The draft supervisory statement creates no separate regime but clarifies token-specific factors CCPs must consider under the existing CCP Rulebook process.
Expectations cover liquidity, valuation and interoperability, settlement finality, credit and concentration risk, operational resilience, and custody and safeguarding.
Any new collateral type, including tokenised versions of already-accepted assets with non-identical risks, requires the Bank's permission through the margin permissions process.
The expectations apply to UK CCPs and to recognised non-UK CCPs the Bank deems systemically important to UK financial stability.
The consultation closes on 12 February 2027 and separately seeks views on stablecoins, tokenised MMF units and tokenised gold as future collateral.

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ADGM Abu Dhabi — announcements Source document ↗

United Arab Emirates ADGM Abu Dhabi — announcements Digital Assets ✓ 18 claims 29 Oct 2026

ADGM issues region's first dedicated guidance on crypto mining activities

ADGM's Registration Authority has published standalone guidance covering commercial licensing, governance and disclosure expectations for crypto mining operators. It sets the regulatory perimeter between commercial mining and FSRA-regulated financial services, and is the first phase of a wider framework the RA plans to develop. Compliance teams considering mining operations in the UAE should review the licensing pathway and disclosure requirements it sets out.

The Guidance is issued under section 23 of the Commercial Licensing Regulations 2025 and treats crypto mining as a licensable commercial activity, not a regulated financial service.
A dedicated commercial licence with business activity code 7230 is highlighted for crypto mining operators.
Operators must disclose corporate structure and ultimate beneficial ownership, and must confidentially disclose on-chain reward-flow addresses.
This publication is described as the first phase of the RA's approach; a second phase will develop a regulatory framework, to be consulted on with the market in due course.
The Guidance follows an eight-week public consultation published earlier in the year that generated feedback used to tailor the final text.

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American Bankers Association — newsroom Source document ↗

United States American Bankers Association — newsroom Digital Assets ✓ 10 claims 28 Oct 2026

ABA sets strategy to help banks navigate tokenized money

This item covers remarks by ABA President and CEO Rob Nichols opening the 2026 ABA Annual Convention, in which he outlined the association's plan to support member banks on tokenized money. Compliance and digital asset teams at smaller banks should note the resource gap Nichols flagged and what ABA is offering to close it.

ABA President and CEO Rob Nichols outlined the strategy in remarks opening the 2026 ABA Annual Convention in Salt Lake City.
ABA will serve as the banking industry's "on-ramp," positioning itself as a primary source of education, guidance and practical support on tokenized money.
ABA will also act as a "trusted convener," bringing industry participants together and advocating for fair, equitable access to tokenized money infrastructure.
Nichols said many banks lack the resources, expertise or market visibility available to larger institutions when it comes to tokenized money.
Further information is being made available at aba.com/TokenizedMoney.

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ISDA Source document ↗

Global ISDA Digital Assets ✓ 11 claims 27 Oct 2026

ISDA publishes whitepaper on accounting treatment for tokenized collateral

ISDA has released a whitepaper addressing how firms should account for tokenized collateral used in derivatives and securities financing transactions. The paper covers both traditional OTC and cleared structures and newer DLT-enabled arrangements, giving compliance and accounting teams an early reference point as tokenized collateral use grows.

ISDA's whitepaper analyzes gross versus net balance sheet presentation considerations under both IFRS and US GAAP.
The analysis covers tokenized representations of money market funds, government securities and other high-quality liquid assets used as collateral.
The paper addresses traditional bilateral OTC and centrally cleared structures as well as emerging DLT-enabled structures.
ISDA states the analysis focuses on individual product types, derivatives and SFTs, and does not address cross-product netting arrangements.

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European Central Bank Source document ↗

European Union European Central Bank Digital Assets ✓ 20 claims 27 Oct 2026

ECB's Schnabel sets out three routes for central bank money to go on-chain

Isabel Schnabel used a speech honouring Charles Goodhart to lay out how the Eurosystem intends to place wholesale central bank money onto distributed ledgers. The talk is not a rule, but it signals the architecture the ECB is testing through its Pontes and Appia projects and the model it wants markets to build around. Worth the time for anyone planning tokenised securities or deposit settlement in euro.

Schnabel argued a tokenised system can replicate the two-tier structure of money if central bank money is provided on-chain at 1:1 with tokenised bank deposits.
She distinguished three routes to on-chain central bank money: direct issuance of natively tokenised reserves, bridging or synchronisation leaving reserves non-tokenised, and a private intermediary tokenising fully backed reserves.
Pontes launched on 21 September 2026, combining a bridge solution with Eurosystem DLT and offering settlement via TARGET2 or DLT, with 24/7 availability and decentralised programmability planned.
Project Appia explores architectures including a single unified ledger, interconnected networks and multiple shared ledgers.
Tokenisation's claimed benefits rest on programmability, making settlement conditional on automatically executed rules, and atomicity, where transaction legs settle together or not at all.

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European Central Bank Source document ↗

European Union European Central Bank Digital Assets ✓ 17 claims 27 Oct 2026

ECB's Pontes wholesale DLT settlement system goes live under binding legal pact

This is the ECB Governing Council's regular digest of non-rate decisions for August-September 2026, covering digital euro milestones, the Pontes tokenised-settlement platform, a new systemically important payment system designation, a MiCAR consultation response and several supervisory and statistical measures. Compliance and payments teams should scan it for items that create new obligations or oversight relationships.

The Governing Council approved the Pontes launch agreement on 11 August 2026 and the Market Infrastructure Board confirmed the go-live date of 21 September 2026.
The Pontes agreement includes binding contract templates for Eurosystem central banks' arrangements with market participants and market DLT operators.
On 24 August 2026 the Council adopted Decision ECB/2026/22 designating Visa Europe Payment System as a systemically important payment system under Regulation (EU) 2025/1355, with the ECB as lead overseer.
On 7 September 2026 the Council approved the ESCB's response to the European Commission's targeted consultation on the review of MiCAR.
Guidelines ECB/2026/26 and ECB/2026/27 amending the Eurosystem monetary policy framework and valuation haircuts were adopted on 22 September 2026 and apply from 30 November 2026.

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BIS Press Releases Source document ↗

Global BIS Press Releases Digital Assets ✓ 11 claims 27 Oct 2026

BIS chief outlines four research priorities under new BIS 100 strategy

A Central Banking interview with BIS general manager Pablo Hernández de Cos sets out the rationale behind the institution's new BIS 100 strategy and the research priorities it implies. For compliance and policy teams tracking where international standard-setting attention is heading, the interview signals which themes the BIS will prioritise toward 2030.

The BIS 100 strategy, launched under Hernández de Cos, is designed to conclude in 2030, the BIS's centenary year.
The monetary and economic department has identified four research areas: technology and future of money, non-bank finance, structural change, and financial regulation.
Technology research will cover tokenisation ranging from stablecoins to tokenised deposits.
The non-bank finance workstream will examine intermediaries' growing role in intermediating public debt and their interconnections with traditional banks.
The regulation workstream aims to assess the effectiveness and potential side effects of different regulatory measures to inform debate on modernising regulation.

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SFC Hong Kong Source document ↗

SFC Hong Kong Digital Assets ✓ 17 claims 26 Oct 2026

SFC approves first secondary trading of tokenised funds on licensed platform

Hong Kong's SFC has greenlit secondary trading of tokenised public funds on a licensed virtual asset trading platform, the first such approval globally. The item covers the regulatory framework behind the launch, the two funds involved, and the SFC's stated plans for expanding product scope.

The SFC approved secondary trading of two tokenised money market funds, ChinaAMC HKD Digital Money Market Fund and ChinaAMC USD Digital Money Market Fund, on a licensed VATP.
Secondary trading began on the date of the announcement and operates on a 24/7 basis.
The SFC issued the Circular on secondary trading of tokenised SFC-authorised investment products on 20 April 2026, setting out requirements on trading channel operation, fair pricing, liquidity provision and disclosure.
The SFC will monitor trading activity before deciding whether to broaden the product scope beyond money market funds.
The framework builds on the SFC's existing regulatory regimes for exchange traded funds and virtual asset trading platforms.

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Deutsche Bundesbank — speeches Source document ↗

European Union Deutsche Bundesbank — speeches Digital Assets ✓ 14 claims 26 Oct 2026

ESM settles €1bn digital bond via Eurosystem's new Pontes platform

A Bundesbank press release confirms the first live, non-pilot settlement of a supranational DLT bond issuance using the Eurosystem's Pontes platform. It covers the roles of the ESM, Bundesbank, Clearstream and advisory banks, and the expected links to listing, clearing and collateral eligibility. Relevant for treasury, custody and market infrastructure teams tracking Eurosystem DLT settlement capability.

The ESM priced a first-time digital benchmark bond of €1 billion, its first-ever digitally native bond issuance.
The Deutsche Bundesbank acted as issuing and paying agent and was onboarded to Pontes as a market participant.
Clearstream acted as Pontes Market DLT Operator, settling the bond via delivery-versus-payment on its D7 DLT platform with cash settled through TARGET (T2).
DZ BANK and Société Générale acted as advisory banks on the transaction.
The bond is expected to be listed on the Luxembourg Stock Exchange and to be eligible as collateral at the Eurosystem Collateral Management System, Eurex Clearing and Eurex Repo.

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American Bankers Association — newsroom Source document ↗

United States American Bankers Association — newsroom Digital Assets ✓ 16 claims 26 Oct 2026

ABA economists warn yield-only view of deposits understates their bundled value

The American Bankers Association's Office of the Chief Economist makes the funding-stability case against competing for deposits on yield alone. The essay matters because it frames how the ABA will argue to policymakers as stablecoins, crypto platforms and AI agents lower switching costs and reduce deposits to a single comparable number: the interest rate.

The essay argues a bank deposit is a bundled service contract combining interest with payments access, deposit insurance, fraud monitoring, dispute resolution and guaranteed par convertibility, not a pure yield product.
It states stablecoin products do not provide the same combination of federal deposit insurance, supervision, customer protection and credit intermediation as an insured deposit, and that higher crypto yields may reflect higher risk.
The authors warn that raising deposit rates to compete solely on yield could raise the cost of credit, reduce credit supply and, per empirical research cited, materially raise default probabilities during stress.
It cautions that AI agents optimized for yield may treat deposits, stablecoins and other cash-like instruments as interchangeable despite differing protections and functions.
The essay says deposits migrating to stablecoins would be invested primarily in short-dated Treasury bills, removing funds from direct support of bank lending.

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American Bankers Association — newsroom Source document ↗

United States American Bankers Association — newsroom Digital Assets ✓ 19 claims 26 Oct 2026

ABA to livestream parts of 2026 annual convention from Salt Lake City

The American Bankers Association is livestreaming selected general sessions from its 2026 Annual Convention, running Oct. 26-27 in Salt Lake City. Compliance and policy teams tracking the association's stance on tokenized deposits, bank hiring data, the 2027 economic outlook and fraud prevention may want the schedule rather than the recap.

ABA will livestream portions of its 2026 Annual Convention general sessions on Monday, Oct. 26 and Tuesday, Oct. 27, in Salt Lake City via its X handle @ABABankers.
Monday's 10:25-11:05 a.m. block covers ABA's approach to tokenized money, the BankChain Alliance's tokenized deposits work, and The Clearing House CEO David Watson on lessons from real-time payments.
Tuesday's annual business meeting at 10-10:15 a.m. will elect the 2026-2027 officers and board, followed by incoming chair Cathy Owen's address.
U.S. Bank chief economist Beth Ann Bovino will discuss the 2027 economic outlook, including inflation, interest rates, labor markets and the AI investment boom, from 10:30-11 a.m. Tuesday.
The closing Tuesday session, 11-11:30 a.m., pairs ABA's Paul Benda with Google's Keerat Sharma on combating online scams, fraudulent advertising and bank impersonation.

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Companies House Source document ↗

United Kingdom Companies House Digital Assets ✓ 11 claims 26 Oct 2026

Companies House publishes accessibility statements for its identity verification services

Companies House has published accessibility statements for the service subdomains it runs, including two identity-related services and its webchat. The page sets out what each statement must cover. It is a compliance and transparency artefact rather than a rule change, but it signals which Companies House digital services are now live and user-facing.

Companies House has published accessibility statements for three named services, including two identity verification services and the Companies House Webchat.
Each statement records how accessible the service is, how to report problems, when it was prepared, and when the service was last tested.
The page was first published on 9 December 2025, with a Welsh translation added on 8 January 2026.
An English and Welsh accessibility statement for the Webchat service was added on 6 October 2026.

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ISDA Source document ↗

United States ISDA Digital Assets ✓ 17 claims 26 Oct 2026

ISDA chief urges US regulators to ease rules blocking tokenized collateral

ISDA CEO Scott O'Malia opened the association's Digital Assets Forum in Washington with a policy-heavy address on tokenization and 24/7 trading. The speech sets out specific regulatory obstacles ISDA wants prudential regulators to fix and flags where its own documentation and standards work is heading.

The CFTC removed an asset transfer restriction in July that had made most money market funds ineligible as derivatives collateral, O'Malia said.
Tokenized assets and stablecoins currently face punitive capital charges under Basel Committee on Banking Supervision standards, which O'Malia said prevents banks from holding them on balance sheet.
ISDA and Global Digital Finance published a report identifying legal, regulatory and operational challenges to moving tokenized money market funds through the US collateral ecosystem.
ISDA has just published a new paper examining how its documentation can support tokenized money market funds as derivatives collateral.
O'Malia called for segregation rules, eligible depository rules, non-cleared margin rules and haircut methodologies to be reviewed to accommodate tokenized collateral.

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International Association for Trusted Blockchain Applications Source document ↗

European Union International Association for Trusted Blockchain Applications Digital Assets ✓ 20 claims 26 Oct 2026

INATBA paper separates blockchain credential verification from institutional recognition

INATBA's Education Working Group has published a knowledge paper examining why technically verifiable micro-credentials are not automatically recognised by employers or academic institutions. It sets out a five-part framework for credential value and surveys EU digital identity and credential infrastructure. Useful background for compliance and education teams tracking EU digital identity wallet rollout and blockchain-based credentialing standards.

The paper applies the EU Council Recommendation of June 2022, under which universities, vocational institutes, employers and industry associations can all design and issue micro-credentials.
It proposes a five-part framework for credential value: credibility, evidence, verifiability, recognition and relevance.
It references the W3C Verifiable Credentials Data Model v2.0 as a trusted standard for cryptographic authentication of credential records.
It discusses upcoming European Digital Identity Wallets under Regulation EU 2024/1183, citing Germany's planned d-you wallet as an example.
It cites empirical research finding micro-credentials boost earnings by approximately 9% when aligned with specific job requirements.

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European Central Bank Source document ↗

European Union European Central Bank Digital Assets ✓ 21 claims 25 Oct 2026

ECB targets 2027 digital euro pilot, 2029 rollout if law passes this year

An interview with ECB Executive Board member Piero Cipollone sets out the digital euro's timeline, design choices and rationale, covering holding limits, offline functionality, distribution through banks and the project's link to European payments sovereignty. Useful for compliance and payments teams tracking when and how the instrument will need to be integrated.

A pilot based on real transactions by ECB and national central bank staff is planned to launch in 2027.
If the EU regulation is adopted by year-end, the digital euro could be rolled out as early as 2029.
Holdings of digital euro in a wallet will be capped, but there will be no limit on payments; amounts exceeding the balance can be drawn automatically from a linked current account.
The digital euro will support offline payments via device-to-device transfer, functioning during power cuts or in areas without internet connectivity.
36 market operators, including seven from Italy, are already collaborating in preparatory work, alongside more than 70 operators that participated in earlier innovation programmes.

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ISDA Source document ↗

Japan ISDA Digital Assets ✓ 17 claims 23 Oct 2026

ISDA chief flags tokenised collateral push alongside Japan derivatives growth

ISDA CEO Scott O'Malia's welcoming remarks at the Transforming Asset Management event in Tokyo set out where derivatives fit into Japan's asset management strategy and previewed ISDA's push on collateral tokenisation. Useful for compliance and markets teams tracking Japan's FSA reform agenda and the industry body's parallel work on digital collateral infrastructure.

Average daily turnover in Japanese OTC interest rate derivatives rose from $51 billion in April 2022 to $170 billion in April 2025, per the latest BIS survey.
The FSA published an upgraded financial services strategy last month, building on three years of asset management reforms.
ISDA convened a new buy-side working group and held its first meeting with asset managers earlier this month.
At the end of last year, $1.6 trillion of initial and variation margin was collected by the largest market participants, according to ISDA's annual margin survey.
ISDA has published an abridged Japanese version of its paper on how pension funds use derivatives.

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Federal Register — OCC Source document ↗

United States Federal Register — OCC Digital Assets ✓ 29 claims 23 Oct 2026

OCC publishes stablecoin application forms as GENIUS Act final rule lands

The OCC has sent OMB a new information collection carrying the application forms that stablecoin issuers must file under the GENIUS Act, published alongside the related final rule. It sets out exactly what domestic permitted payment stablecoin issuers and foreign issuers must submit, the factors the OCC will weigh, and a burden estimate of 4,915 hours across 40 expected respondents.

Comments on the new information collection (OMB control number 1557-NEW) are due by November 23, 2026, with the collection already sent to OMB for 30-day review.
The final rule implementing the GENIUS Act for OCC-jurisdiction stablecoin issuers is published elsewhere in the same Federal Register issue; the Act was enacted July 18, 2025 and takes effect January 18, 2026.
Permitted payment stablecoin issuer applications under 12 CFR 15.30 must include a business plan, reserve, redemption and risk management policies and Interagency Biographical and Financial Reports for directors, officers and principal shareholders.
Foreign issuer registration under 12 CFR 15.32 requires a Treasury determination of a comparable home regime under section 18, consent to US jurisdiction and certification of no material misrepresentations.
The OCC estimates 40 respondents, 40 annual responses and 4,915 total annual burden hours, a figure one commenter said materially understates the work required.

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American Bankers Association — newsroom Source document ↗

United States American Bankers Association — newsroom Digital Assets ✓ 20 claims 21 Oct 2026

OCC finalizes stablecoin rule, drops presumption against affiliate yield deals

The OCC has finalized its rule implementing the Genius Act's framework for payment stablecoins, settling how it will police the statutory ban on issuers paying yield. The agency narrowed that prohibition rather than tightening it, dropping a presumption against affiliate arrangements. For banks worried about deposit flight to crypto platforms, this is the detail that matters, and the ABA has said so plainly.

The OCC finalized the rule on 21 October 2026 with a narrower payment-of-interest prohibition than it originally proposed, and says it expects future rulemaking on the subject.
The final rule removed proposed language that would have presumed certain transactions with affiliates and related third parties violated the yield prohibition.
The OCC said it does not believe a rebuttable presumption on the yield prohibition is appropriate while the payment stablecoin market remains nascent.
The agency also finalized a rule letting bank subsidiaries and other issuers request waivers from certain Genius Act requirements, plus the reporting forms issuers must submit.
ABA President and CEO Rob Nichols said the rule preserves the status quo for crypto platforms despite Congress's intent to protect local lending.

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Federal Register — CFTC Source document ↗

United States Federal Register — CFTC Digital Assets ✓ 20 claims 21 Oct 2026

CFTC launches rulemaking to bring retail crypto trading onto regulated exchanges

The CFTC has issued an advanced notice of proposed rulemaking on section 2(c)(2)(D) of the Commodity Exchange Act, signaling intent to write fit-for-purpose rules for crypto asset transactions and markets. Compliance and legal teams at exchanges, intermediaries and crypto trading venues should read this to understand the direction of a framework that could require retail crypto transactions to move onto designated contract markets.

Comments on the ANPRM, filed under RIN 3038-AF80, must be received by the CFTC on or before December 14, 2026.
The notice proposes two new frameworks: Regulation Crypto Asset Transactions (Regulation CTX) and Regulation Crypto Asset Markets (Regulation CAM).
The Commission states the President's Working Group on Digital Asset Markets directed it to use existing rulemaking and exemptive authorities to enable crypto asset trading.
The notice states that in June 2016 the Commission charged BFXNA Inc. (Bitfinex) with violations of the on-exchange requirement, the first application of section 2(c)(2)(D) to a crypto exchange.
The Commission states that CME and Cboe self-certified cash-settled bitcoin futures in December 2017, the first regulated U.S. bitcoin derivatives products.

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Federal Register — SEC Source document ↗

United States Federal Register — SEC Digital Assets ✓ 19 claims 21 Oct 2026

SEC proposes crypto custody rules for advisers and regulated funds

The SEC has published a proposed rulemaking addressing how registered investment advisers and regulated funds may custody crypto assets, creating new rules alongside amendments to the existing Advisers Act and Investment Company Act custody frameworks. This segment covers the scope of the proposal, its stated rationale, and the comment timeline that compliance and legal teams need to track.

Comments on the proposal must be received by the Commission no later than December 7, 2026, under File Number S7-2026-35.
The Advisers Act custody rule 206(4)-2 would be amended and redesignated as rule 223-1, with conforming changes to Form ADV and Form ADV-E.
The Commission proposes new rules 17f-8 and 17f-9 under the Investment Company Act while proposing to rescind rule 17f-3 and Form N-17f-1.
The proposal adds new questions to Form ADV and Form N-CEN specifically addressing tokenized private funds and tokenized regulated investment company shares.
The Commission cites a global crypto market capitalization of approximately $2.7 trillion in May 2026, up from $800 billion at the beginning of 2021.

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FCA Publications Source document ↗

United Kingdom FCA Publications Digital Assets ✓ 15 claims 21 Oct 2026

FCA consults on DeFi guidance for operational resilience and financial crime risk

The FCA has opened a consultation on non-Handbook guidance for firms offering financial services via decentralised finance, covering operational resilience and financial crime risk including Money Laundering Regulations compliance. It sits alongside a separate cryptoasset perimeter consultation and should be read by any regulated firm already engaging with DeFi protocols or planning to.

The guidance consultation GC26/7 opened on 21 October 2026 and closes on 18 November 2026.
It applies to firms in scope of SYSC 15A on operational resilience, SYSC 6 on financial crime, or subject to the Money Laundering Regulations.
The FCA says it plans to publish final guidance in January 2027.
From 25 October 2027, the Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026 will bring new cryptoasset activities into the FCA's regulatory perimeter.
Firms are told to read the consultation alongside CP26/36 on Cryptoasset Perimeter Guidance and the FCA's wider cryptoasset and operational resilience publications.

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OCC Bulletins Source document ↗

United States OCC Bulletins Digital Assets ✓ 15 claims 21 Oct 2026

OCC signals it will waive stablecoin prior-approval bar for existing US issuers

The OCC has told national banks, federal savings associations and prospective stablecoin issuers how to file GENIUS Act applications and request waivers before the January 18, 2027 compliance date. The bulletin matters because issuing a payment stablecoin without approval carries criminal penalties, and the OCC is signalling where it will and will not grant relief during the application backlog.

Payment stablecoin issuers must comply with the GENIUS Act from January 18, 2027, and unapproved issuance carries criminal penalties.
Existing US issuers with a substantially complete application pending can request a waiver from the Prior Approval Requirement, which the OCC generally expects to grant unless more compelling reasons to deny emerge.
The OCC has identified no generally applicable reason to waive requirements other than the Prior Approval Requirement, citing the 18 months issuers have had to prepare since the act passed.
Section 5(f) limits any waiver to a period not exceeding 12 months from January 18, 2027, and the OCC expects to act on waiver requests generally by that date.
The OCC will begin accepting applications only after OMB approves the information collection for the application forms, and will announce the start by press release.

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FCA Publications Source document ↗

United Kingdom FCA Publications Digital Assets ✓ 19 claims 21 Oct 2026

FCA consults on new crypto perimeter exclusions, offers forbearance to firms caught by late SI

The FCA is consulting on guidance clarifying a fresh set of exclusions from the UK's incoming cryptoasset regime. The additions arrived through a late statutory instrument, creating authorisation uncertainty for some firms. If your business model sits near settlement, stablecoin backing, proprietary trading or technical access services, this consultation determines whether you need FCA permission at all before 25 October 2027.

The consultation closes on 18 November 2026, with final guidance planned for January 2027 and the regime commencing 25 October 2027.
New exclusions cover temporary settlement arrangements, stablecoin backing assets, proprietary trading not provided as a service or market making on a QCATP, and technical services giving access to third-party or decentralised protocols.
Firms materially affected by uncertainty over the technical services provider exclusion will be given additional time to complete the arranging permission aspects of an otherwise complete application.
The application period for existing UK crypto firms seeking new regulated activities opened 30 September 2026 and closes 28 February 2027; firms must apply within this window to use the savings provision.
The guidance also addresses central securities depositaries, including third-country CSDs, with safeguarding arrangements involving cryptoassets.

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OCC Bulletins Source document ↗

United States OCC Bulletins Digital Assets ✓ 16 claims 21 Oct 2026

OCC finalises GENIUS Act stablecoin rule, effective January 2027

The OCC has published its final rule implementing the GENIUS Act for payment stablecoin issuers under its jurisdiction. It sets out the standards banks, federal savings associations and qualified issuers will operate under from January 18, 2027, and signals which parts of the regime are still pending. Anyone with stablecoin issuance or custody ambitions should read this as the near-final shape of the federal framework.

The final rule becomes effective January 18, 2027, the same date as the GENIUS Act itself.
Most requirements are housed in a new 12 CFR 15 covering reserves, redemption, custody, risk management and issuer applications.
BSA, AML and OFAC sanctions rules are excluded and will come in a separate rulemaking coordinated with Treasury.
The rule revises existing capital adequacy (12 CFR 3), prompt corrective action (12 CFR 6), fee (12 CFR 8) and procedure (12 CFR 19) regulations.
It binds national banks, federal savings associations, federal branches, foreign issuers, and federal and state qualified payment stablecoin issuers under OCC authority.

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OCC Bulletins Source document ↗

United States OCC Bulletins Digital Assets ✓ 19 claims 21 Oct 2026

OCC revises weekly and quarterly stablecoin reporting forms alongside GENIUS Act final rule

The OCC has put revised reporting forms for payment stablecoin issuers out for a further round of comment, issued the same day as its final rule implementing the GENIUS Act. This segment covers who must file, the PS-01 and PS-02 start dates, and the short comment window that compliance teams at any firm registering as an issuer need to track now.

The OCC issued a final rule implementing the GENIUS Act for payment stablecoin issuers on 21 October 2026, the same day as this bulletin.
Weekly form PS-01, covering payment stablecoin activity and reserves, would take effect from the 25 January 2027 report date, subject to OMB approval.
Quarterly form PS-02, covering reports of condition and income, would take effect from the 31 March 2027 report date.
The collection applies to permitted payment stablecoin issuers and foreign payment stablecoin issuers for which the OCC has authority under the GENIUS Act.
Comments on the revised forms are due within 30 days of publication of the information collection in the Federal Register.

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American Bankers Association — newsroom Source document ↗

United States American Bankers Association — newsroom Digital Assets ✓ 14 claims 20 Oct 2026

ABA presses Treasury to tighten Genius Act stablecoin licensing rule before it is finalised

The American Bankers Association filed comments on Treasury's August proposal implementing the Genius Act, which would require digital asset providers to hold a federal or state license before issuing payment stablecoins. The ABA wants key terms defined, foreign issuers held to equivalent standards, and clear lines so that banks serving issuers are not exposed to another party's criminal liability. For anyone tracking US stablecoin regulation, this previews the fault lines before finalisation.

The ABA filed comments on Treasury's August proposed rule implementing the Genius Act's stablecoin licensing requirement.
It wants key terms defined so issuers and intermediaries cannot evade the Act's protections and prohibitions.
It asks that foreign issuers be held to substantively equivalent standards and that agencies coordinate on Genius Act regulation.
It seeks clear lines so banks providing ordinary services are not exposed to criminal liability for another party's violation.
It wants holders protected when an issuer's status changes, with notice and a clear path to redemption or divestment.

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European Payments Council Source document ↗

European Union European Payments Council Digital Assets ✓ 15 claims 20 Oct 2026

EPC launches SCARLET to standardise EU Digital Identity Wallet acceptance in SCA

The European Payments Council has approved development of SCARLET, a scheme to standardise how payment service providers accept EU Digital Identity Wallets for strong customer authentication. With eIDAS 2.0 set to make wallet acceptance mandatory and thousands of PSPs and wallet providers in scope, this segment covers what the framework will contain, its two-stage build and the timeline running to 2028/29.

The EPC Board approved SCARLET development on 24 September 2026, following an invitation from the Commission's DG CNECT and DG FISMA.
eIDAS 2.0 (Regulation (EU) 2024/1183) will oblige PSPs to accept EU Digital Identity Wallets for SCA when end-users choose to use them.
SCARLET 1.0 aligns with PSD2 and the EBA's existing SCA RTS; version 1.1 will extend to the Payment Services Regulation for compliance from 2028/29.
The scheme is designed for an expected 3,000-plus PSPs and 27-plus wallet providers operating across the EU/EEA.
An open consultation is scheduled for summer 2027, with the first SCARLET 1.0 rulebook to be published in December 2027.

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Alliance for Financial Inclusion Source document ↗

Global Alliance for Financial Inclusion Digital Assets ✓ 17 claims 20 Oct 2026

G-24 and AFI urge proportionate stablecoin rules as FATF flags compliance gaps

A G-24/AFI Policymakers' Roundtable held alongside the IMF and World Bank Annual Meetings brought central bank governors, FATF and BIS officials together to debate how emerging markets should regulate stablecoins. The discussion weighed financial inclusion gains against consumer protection, monetary policy and financial integrity risks, with FATF citing widespread shortfalls in virtual asset supervision.

Stablecoins now have a combined market capitalisation of more than 300 billion US dollars, according to AFI CEO Alfred Hannig.
FATF President Giles Thomson said 65 per cent of countries assessed have not yet fully met FATF standards for virtual assets.
The roundtable took place on 13 October as part of the 2026 IMF and World Bank Group Annual Meetings in Bangkok.
Central bank governors from Uzbekistan and Trinidad and Tobago argued stablecoins should be treated as a monetary policy matter, not only a market conduct issue.
The discussion drew on AFI's multi-country research program run with the University of Luxembourg, the Florence School of Banking and Finance, and Canada's IDRC.

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BIS Press Releases Source document ↗

Global BIS Press Releases Digital Assets ✓ 21 claims 20 Oct 2026

BIS paper finds stablecoins no cure for cross-border payment costs, fintechs win on price

BIS Working Paper 1385 builds comparable all-in cost measures for three cross-border payment rails and tests the claim that stablecoins fix the system's frictions. For anyone shaping a payments strategy or a stablecoin business case, it is a sober data-based check: fintech operators have already compressed costs sharply, while stablecoin transfers still depend on exchanges, thin FX liquidity and fiat off-ramps.

BIS Working Paper 1385 was published on 19 October 2026 and carries no binding force, representing the authors' views rather than the BIS.
Retail bank wire FX markups range from approximately 2% to 4.7% even for highly liquid currencies, before explicit wire fees are added.
For $10,000 transfers from the United States, median fintech costs across developed-market currency groups run around $40 to $60, though some destinations cost considerably more.
Stablecoin transfers still depend on crypto exchange, conversion and fiat-withdrawal fees, and liquidity between US dollar stablecoins and non-US currencies is generally very thin.
Any favourable stablecoin FX pricing into emerging markets reflects capital-control distortions rather than the underlying blockchain technology.

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Banco de España Source document ↗

European Union Banco de España Digital Assets ✓ 20 claims 19 Oct 2026

Banco de España compares US, UK and EU stablecoin regimes and flags arbitrage gaps

Banco de España staff set three stablecoin frameworks side by side: the EU's MiCAR, already in force; the US GENIUS Act, signed in July 2025 but not operative until 2027; and the UK's phased proposal due by end-2026. The piece dissects redemption rights, reserve composition, capital and crisis management, and explains why co-issuer structures such as Circle's split between its US parent and French subsidiary worry European authorities.

MiCAR has applied to e-money tokens since June 2024, while the GENIUS Act is not expected to enter force until 2027 with a three-year transition, and the UK framework is due for approval by end-2026.
MiCAR requires non-bank EMT issuers to hold minimum capital of €350,000 and own funds of 2% of average circulation, rising to 3% for significant issuers, with possible supervisory add-ons of 20% to 40%.
MiCAR mandates at least 30% of the reserve in same-currency bank deposits, rising to 60% for significant e-money tokens.
The ESRB published a Recommendation in September 2025 to prohibit multi-jurisdiction co-issuance schemes in Europe absent adequate safeguards, citing the disparity between Circle's US parent and its French subsidiary.
USDT and USDC account for roughly 90% of global stablecoin volume, at capitalisations of around $190 billion and $80 billion respectively.

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American Bankers Association — newsroom Source document ↗

United States American Bankers Association — newsroom Digital Assets ✓ 13 claims 16 Oct 2026

Banking groups ask Fed for 60 more days to comment on stablecoin rules

Four bank trade groups have asked the Federal Reserve to extend comment on its two Genius Act stablecoin proposals, arguing the Fed's prudential framework is explicitly benchmarked to an OCC rule that is about to change. The request bears on timing, not substance, but shapes how much scrutiny the final rules receive before they bind issuers.

The Fed issued two companion proposed rules implementing its Genius Act responsibilities in late September 2026.
One proposal covers approval procedures for a subsidiary to become a board-supervised permitted payment stablecoin issuer (PPSI); the other sets reserves, capital, redemption, risk management, custody and reporting requirements.
ABA, BPI, CBA and ICBA have requested a 60-day extension, moving the comment deadline from November 30 to January 29.
OCC Comptroller Gould has stated the OCC intends to finalize its own stablecoin rule by November 2026, which the groups say would change the benchmark the Fed's proposal is tied to.
The associations also urged the Fed to coordinate timing and effective dates with other agencies and keep PPSI requirements consistent across regulators.

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European Central Bank Source document ↗

European Union European Central Bank Digital Assets ✓ 27 claims 16 Oct 2026

ECB's Cipollone says digital euro payments could begin within 12 months

ECB Executive Board member Piero Cipollone discusses the digital euro's timeline, rationale and merchant impact in an interview with Corriere della Sera. For compliance and payments teams, this signals near-term milestones on legislation, piloting and participant selection that will shape preparation timelines.

Piero Cipollone said the digital euro pilot was launched in summer 2026, with first tests starting next year and first payments within 12 months.
The ECB received nearly 60 applications in May to take part in the pilot and selected 36 participants, including several Italian banks.
Technical standards agreements were signed in April 2026, according to Cipollone.
Cipollone said the digital euro would be free to individuals, as cash is today, and would also work offline without an internet connection.
He said the EU legislative text needed before the project can proceed should be ready by the end of the year.

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BIS Press Releases Source document ↗

Global BIS Press Releases Digital Assets ✓ 18 claims 15 Oct 2026

BIS paper finds stablecoins and bank deposits are partial substitutes in US data

A BIS working paper tests whether reserve-backed stablecoins compete with bank deposits for US funds. Using weekly data and an identification strategy built on how banks reprice deposits above roughly 3%, the authors measure how stablecoin market capitalisation responds to deposit rate changes. The finding matters for how far the stablecoin sector can grow and how it might touch bank funding and monetary transmission.

Higher bank deposit rates are followed by slower stablecoin growth; the relationship is stronger for USDC than USDT.
Identification exploits banks repricing deposits more aggressively once the federal funds rate exceeds roughly 3%; a placebo test uses non-stablecoin cryptoassets.
The paper studies allocation between assets and does not establish that stablecoin growth reduces aggregate bank deposits or lending.

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BIS Press Releases Source document ↗

Global BIS Press Releases Digital Assets ✓ 19 claims 15 Oct 2026

BIS research finds on-chain crypto metrics vary by up to six times depending on method

A BIS working paper dismantles the assumption that public blockchain data yields clean measures of crypto and DeFi activity. For anyone using on-chain metrics to size markets, assess counterparties or inform supervisory thinking, it sets out exactly where the numbers diverge and why the same stablecoin means different things on different chains.

Bitcoin transaction values vary by up to a factor of six depending on the measurement approach used.
Authors classified 13 million active smart contracts, including about 1.4 million tokens, with trading concentrated around stablecoins.
The same stablecoin behaves differently across chains: tied to smart contracts on Ethereum, held outside them on Tron.

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SEC Press Releases Source document ↗

United States SEC Press Releases Digital Assets ✓ 15 claims 15 Oct 2026

SEC grants five-year 'Innovation Exemption' for onchain trading of tokenized NMS stock

The SEC has carved tokenized-stock trading venues out of the Exchange Act's 'exchange' definition for five years, letting them operate permissioned automated market makers while the Commission weighs permanent rules. This segment covers what the conditional relief permits, the six conditions attached, the parallel 'dealer' exemption for liquidity providers, and the comment window now open.

TSVs are temporarily exempted from the Exchange Act 'exchange' definition to trade tokenized NMS stock via permissioned AMM liquidity pools, subject to symbol and volume limits.
Conditions include rights parity with traditional stock, issuer notice-and-objection for third-party tokenization, auditable public smart contracts on a permissionless ledger, and halts mirroring the primary exchange.
A parallel conditional exemption from the 'dealer' definition covers proprietary-capital liquidity providers; both exemptions expire five years after publication.

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Deutsche Bundesbank Source document ↗

Germany Deutsche Bundesbank Digital Assets ✓ 16 claims 15 Oct 2026

Bundesbank paper finds widespread stablecoin adoption modestly cuts long-run US output

A Bundesbank discussion paper builds a quantitative macro model, calibrated to the US, to ask what happens when stablecoins scale to USD 1-3 trillion. The authors isolate a bank lending channel and a fiscal space channel pulling in opposite directions, and show how reserve regulation changes the result. Useful for anyone mapping the deposit-displacement and Treasury-demand arguments now shaping stablecoin rulemaking.

Model predicts a modest long-run US output decline as the bank lending channel slightly outweighs the fiscal space channel.
Reserve design is decisive: bank-deposit backing worsens output, central-bank reserve backing strengthens fiscal space; foreign demand helps.
Transition can be expansionary because the fiscal channel acts faster, and stablecoins amplify monetary policy shocks via bank funding costs.

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FCA Source document ↗

United Kingdom FCA Digital Assets ✓ 16 claims 15 Oct 2026

FCA opens authorisation gateway for UK crypto firms, sets 28 February 2027 deadline

The FCA has opened applications for crypto firms seeking authorisation under the UK's new regulatory regime. This segment covers the two dates that matter, the four standards firms are assessed against, and the transitional position for applicants awaiting a decision when the regime goes live. If you advise a crypto business with UK exposure, the clock has started.

Crypto firms can apply for FCA authorisation from 30 September 2026; those continuing to operate should apply by 28 February 2027, before the regime starts on 25 October 2027.
Authorisation is assessed against four standards: consumer protection, safeguarding of customer assets, market integrity and financial resilience; firms that fall short will not be authorised.
Firms applying within the window may keep providing services, including new business, if no decision is made before the regime takes effect.

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SEC Press Releases Source document ↗

United States SEC Press Releases Digital Assets ✓ 14 claims 15 Oct 2026

SEC proposes crypto custody framework for investment advisers and regulated funds

The SEC has opened a 60-day consultation on how registered investment advisers, registered funds and BDCs may custody crypto assets. It would create a compliant pathway where none existed, permit self-custody in defined circumstances, and admit state trust companies as custodians. This segment covers what the proposal changes for advisers and funds and where the open questions sit before any final rule.

SEC proposed a tailored crypto custody framework for registered investment advisers and regulated funds on October 1, 2026 (release 2026-100).
The proposal would permit self-custody of crypto assets in certain circumstances and allow state trust companies to act as custodians for client and fund assets.
The comment period remains open for 60 days following publication in the Federal Register; the measure is a proposal, not yet a rule.

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HM Treasury Source document ↗

United Kingdom HM Treasury Digital Assets ✓ 21 claims 15 Oct 2026

UK names six Joint Lead Managers for digital gilt pilot, targets Q1 2027 issuance

The Economic Secretary used UK Digital Assets Week to set out where the government's digital-finance programme has actually moved from design to delivery. The headline is the appointment of six Joint Lead Managers for the DIGIT pilot and a first-quarter 2027 issuance date, alongside live Sandbox approvals and the cryptoasset authorisation clock now running. Useful for mapping sequencing across gilts, stablecoins and the FCA perimeter.

Six firms appointed as Joint Lead Managers for the DIGIT pilot issuance, targeted for Q1 2027 on HSBC's Orion platform and listed on LSEG's main market.
HSBC and ClearToken have each received approval to operate a live Digital Securities Depository in the Digital Securities Sandbox; Treasury will lay supporting secondary legislation.
Cryptoasset activities enter the FCA regulatory perimeter from 25 October 2027; the transitional-arrangements application window opened 30 September.

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AFM Netherlands Source document ↗

AFM Netherlands Digital Assets ✓ 17 claims 15 Oct 2026

Dutch regulators say national law blocks native securities tokenisation

The AFM and DNB publish a joint exploratory study on securities tokenisation in the Netherlands, concluding that current Dutch law offers no basis for fully native tokens and forcing firms into hybrid dual-registration arrangements. This segment covers what the regulators found, what they are asking government to do, and why Dutch market infrastructure choices may migrate elsewhere.

AFM and DNB find Dutch law gives no basis for securities issued, held and transferred exclusively as tokens; native tokenisation is not currently possible.
Hybrid dual registration alongside DLT limits efficiency gains and creates uncertainty over the legal significance of the token record.
The regulators call for a government-led follow-up aligned with European initiatives, using specific use cases to decide whether to clarify or amend rules.

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BIS Press Releases Source document ↗

European Union BIS Press Releases Digital Assets ✓ 21 claims 13 Oct 2026

ECB's Cipollone sets digital euro course: trilogue by year-end, pilot in 2027, issuance 2029

ECB Executive Board member Piero Cipollone lays out where the digital euro legislation stands, the financial-stability modelling behind holding limits, and how the wholesale Pontes and Appia initiatives fit. For compliance and treasury leads at euro-area banks, this is the clearest consolidated statement of timelines, distribution roles and deposit-outflow assumptions ahead of a potential 2029 first issuance.

Trilogue negotiations under way; European Council wants them concluded by end of year, with potential first digital euro issuance in 2029.
12-month pilot begins H2 2027 with 36 payment service providers selected from more than 50 applications; merchant call opened 15 September.
Pontes launched 21 September to settle tokenised transactions in central bank money, full implementation expected mid-2028; Appia blueprint due 2028.

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FMA Austria Source document ↗

FMA Austria Digital Assets ✓ 13 claims 13 Oct 2026

FMA to enforce ESMA's three-month deadline on CASP services tied to non-MiCAR stablecoins

ESMA issued an Opinion on 8 October 2026 telling MiCAR-authorised CASPs to stop offering services linked to stablecoins that do not comply with MiCAR. Austria's FMA has confirmed it will apply those expectations in supervision and police a remediation deadline. This segment covers who is bound, what services are caught, and the clock that is now running.

ESMA published its Opinion on non-MiCAR-compliant ARTs and EMTs on 8 October 2026; the FMA will apply it in supervision.
MiCAR-authorised CASPs should not provide any covered service linked to non-compliant stablecoins to EU clients, standalone or combined.
Existing positions must be remediated as quickly as possible, no later than three months from the Opinion's publication date.

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Financial Stability Board Source document ↗

Global Financial Stability Board Digital Assets ✓ 11 claims 13 Oct 2026

FSB maps cross-border stablecoin vulnerabilities, flags gaps in monitoring data

The Financial Stability Board has published a note summarising its monitoring work on global stablecoin arrangements. It sets out how these arrangements are structured, how vulnerabilities could propagate across borders, which metrics could support financial stability monitoring, and what data is actually available today. For compliance and policy teams tracking the FSB crypto framework, it signals where supervisory attention and data demands are heading.

FSB argues a single jurisdiction cannot fully assess or address cross-border vulnerabilities in global stablecoin arrangements that span multiple entities and authorities.
The note analyses arrangement structure, vulnerability propagation, and metrics for financial stability monitoring, plus the benefits and limitations of available data sources.
Delivered by FSB Chair Andrew Bailey on 12 October 2026 alongside finalised sound practices on AI adoption.

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