Flash News

TREE NEWS update: The Hainan Provincial Committee of the Communist Party of China and the Hainan Provincial People’s Government issued a document on building an eco-friendly free trade port, pledging to strictly curb the blind launch of high-energy, high-emission, high-pollution and low-level projects. New, modified or expanded high-energy and high-emission industrial projects must implement equal or reduced carbon emission replacement, and new projects should prioritize advanced processes and pollution control technologies.

TREE NEWS update: Hainan’s provincial government issued a policy on building an eco-friendly free trade port, setting a target for new energy vehicles to make up at least 70% of new car additions by 2027 and steadily advancing a 2030 ban on fuel car sales. The plan also calls for accelerating offshore wind and the Changjiang nuclear project and supporting green data centers and base stations.

TREE NEWS update: The International Organization for Standardization (ISO) has officially released a research report titled “The Impact of the ISO/IEC 27001 Standard on Digital Trade,” the Standardization Administration of China said. The report, an ISO Research Fund project, sets out the mechanisms through which international standards support digital trade and offers a Chinese proposal for building a secure, trusted and resilient global digital trade system. It marks the first time China has undertaken an ISO Research Fund project.

TREE NEWS update: China’s National Financial Regulatory Administration Shanghai bureau approved Yang Qian’s qualification as chief audit officer of ICBC-AXA Life Insurance, the regulator announced. The approval covers the audit responsibility role at the insurer, which is a joint venture between Industrial and Commercial Bank of China and AXA.

TREE NEWS update: China’s Southern Regional Power Market now has more than 270,000 registered market participants, about a quarter of the national total, the National Development and Reform Commission’s institutional reform department said. Market-based trading accounts for 67.5% of electricity transactions, roughly 4 percentage points above the national average. Since continuous settlement trials began, over-plan west-to-east power transfers have exceeded 20 billion kWh, and 2025 transfer volume hit a record 261.6 billion kWh.

TREE NEWS update: Nasdaq-listed Solana Company has been designated a strategic enterprise in Hong Kong and plans to establish Solana validator operations there, the firm said. The designation gives the company a formal foothold in the city as it builds out blockchain infrastructure tied to the Solana network. No timeline or investment figure was disclosed.

TREE NEWS update: Indonesia’s Financial Services Authority (OJK) said the country’s stock market has demonstrated resilience under pressure and pledged to maintain trust while advancing reforms. The regulator did not provide specific figures or policy details in the statement. The remarks come as Indonesian markets face external volatility.

TREE NEWS update: Anchorpoint, the stablecoin joint venture of Standard Chartered and Animoca Brands, is not rushing to open to retail users, its CEO said, declining to reaffirm a previously targeted timeline of as early as the end of 2026. The venture had earlier pointed to retail access by that date.

TREE NEWS update: South Korea’s presidential office is leaning toward postponing the virtual asset income tax, originally set to take effect on Jan. 1, 2027, which would mark its fourth delay. A presidential official said the tax would move toward postponement in party-government consultations, though the office said in a written response that the matter is still under review and no decision has been made. Ruling Democratic Party lawmaker Park Min-kyu has proposed an amendment to delay taxation until 2029, with the opposition People Power Party also backing a delay. The current plan would tax gains from virtual asset transfers and lending at 22% after a 2.5 million won basic deduction.

TREE NEWS update: The UK and Canadian finance ministries issued a joint statement agreeing to develop a cooperation framework under which the two countries will support each other on investment and financing, and reaffirming their commitment to strengthening defense financing. They agreed it would be best to establish two distinct but complementary institutions working in partnership, with the framework intended to safeguard multilateral defense mechanisms and the interests of defense, security and resilience banks.

TREE NEWS update: European Central Bank executive board member Piero Cipollone said the digital euro would give Europe more “sovereignty” over payment infrastructure and reduce reliance on non-European third parties. A pilot using real transactions by ECB and national central bank staff is planned for 2027, with 36 market operators involved in preparations, including seven Italian operators. Two-thirds of card transactions in the euro area are handled by non-European companies, he said; the ECB Governing Council will decide on issuance after legislative negotiations in Brussels conclude, with launch possible as early as 2029 if rules pass by year-end.

TREE NEWS update: European Central Bank official Piero Cipollone said the digital euro is essential to protecting the EU’s sovereignty, with the bloc on track to test real transactions in 2027 and launch the currency as early as 2029. The timeline depends on legislation expected this year.

TREE NEWS update: Senator Cynthia Lummis said Democrats demanded that annual crypto fundraising limits be cut to $50 million from $75 million and a $200 million lifetime cap be added to the CLARITY crypto market structure bill. She said the changes were agreed and written into the bill, yet Democrats still voted against the rule aimed at protecting retail investors.

TREE NEWS reports: UK consumers submitted 10,092 complaints through Stand With Crypto’s online tool between May and August over banks restricting crypto purchases, involving 9,800 users across all 650 parliamentary constituencies. Lloyds Banking Group, including Halifax and Bank of Scotland, drew 2,297 complaints, about 23% of the total, followed by Barclays with 1,569 and NatWest Group with 1,278. SWC cautioned the complaints came from consumers who actively used its tool and are not a representative survey of bank customers.

TREE NEWS update: The Huairou District Tax Bureau of Beijing’s State Taxation Administration has served tax notices on 21 individuals, including one named Chao Mouzhe, requiring them to verify and declare individual income tax on offshore trusts. The notices were issued on October 22, the deadline for the transition period under new rules on offshore trust income tax. The bureau published the announcement on its website that afternoon.

TREE NEWS update: Israeli Prime Minister Benjamin Netanyahu said ahead of elections that Israel could turn to blockchain and cryptocurrency to skirt potential international financial sanctions. The proposal drew criticism from political opponents and the country’s central banker, who voiced dismay at the idea.

TREE NEWS update: Gadi Eisenkot, leader of the Integrity Party and an election rival of Prime Minister Benjamin Netanyahu, said Netanyahu’s cryptocurrency vision poses a threat to national security. In a social media post, Eisenkot criticized Netanyahu for risking international isolation and economic sanctions that would damage Israel’s economy and markets. Netanyahu had previously said he was considering using cryptocurrency to circumvent economic sanctions imposed on Israel by other countries.