Flash News

TREE NEWS reports: Deutsche Bank is preparing to launch crypto custody services in Germany and plans to extend digital asset custody to Asian financial centers, citing growth in the digital asset economy. The German lender, the country’s largest bank, has not disclosed a launch date or the specific Asian markets targeted.

TREE NEWS update: Anthropic responded on Thursday to a letter from the New York City Comptroller, the comptroller’s office said. No details of the letter’s contents or Anthropic’s response were disclosed. The exchange marks the latest contact between the AI company and the city’s top financial officer.

TREE NEWS update: China’s State Council executive meeting called for technology innovation to be driven by deployed applications and for deeper expansion of the “AI Plus” initiative. Separately, two government departments proposed banning or restricting exports of 40 technologies across artificial intelligence, biomedicine and solar power. The PBOC’s Pan Gongsheng also said China will push for yuan-denominated bonds to become a globally recognized eligible collateral.

TREE NEWS update: China’s Ministry of Industry and Information Technology, the Ministry of Finance and the National Development and Reform Commission approved hydrogen comprehensive application pilot programs in five city clusters, including Beijing-Tianjin-Hebei, the Greater Bay Area, Northeast China with eastern Inner Mongolia to the Yangtze River Delta, Xinjiang to the Chengdu-Chongqing economic circle, and the Yellow River bend to the Central Plains. The pilots will run for four years.

TREE NEWS update: China’s State Administration for Market Regulation, together with the Ministry of Ecology and Environment, the Ministry of Housing and Urban-Rural Development, the Ministry of Water Resources and the Ministry of Agriculture and Rural Affairs, formally issued a pilot work plan to promote industrial upgrading through testing and inspection. The eight-department plan marks a shift in the country’s testing and inspection services sector from isolated breakthroughs toward systemic enablement.

TREE NEWS update: China’s Ministry of Commerce said the EU cannot expect to trade concessions for pressure, after the European Union summit floated a “dual-track” approach to China. The ministry said the understanding reached on hybrid vehicles, based on WTO rules, facts and non-discrimination, was mutually beneficial, protecting Chinese firms’ interests while addressing EU concerns and averting an escalation in trade friction. It said claims that EU pressure had worked are groundless.

TREE NEWS update: China’s Ministry of Industry and Information Technology, Ministry of Public Security, Ministry of Ecology and Environment and State Administration for Market Regulation held a joint meeting with more than 30 major automakers to tighten management of vehicle product design, R&D and testing verification. Companies were told to implement a quality-improvement campaign, firmly resist irrational competition and hold the line on product safety.

TREE NEWS update: Solana Foundation President Lily Liu said the foundation’s Shanghai event has been postponed after registrations quadrupled overnight and exceeded the attendance limit registered with local authorities. The event will be rescheduled, Liu said.

TREE NEWS update: China’s State Council executive meeting approved a draft decision to amend and repeal parts of certain administrative regulations. Fourteen regulations, including the implementation rules of the Archives Law, will have some provisions amended, while four others, including the rules on liability limits for inter-port passenger shipping, will be repealed. The meeting announced the decision on Friday.

TREE NEWS update: Premier Li Qiang chaired a State Council executive meeting that discussed and approved in principle a draft amendment to China’s Price Law. The draft revision to the pricing legislation now moves forward in the State Council’s legislative process. No further details on the amendment’s contents were disclosed in the announcement.

TREE NEWS update: People’s Bank of China Governor Pan Gongsheng met European Central Bank President Christine Lagarde, European Commission Economy and Productivity Commissioner Dombrovskis and Eurogroup President Pierrakakis during the IMF/World Bank annual meetings. The talks covered China-EU macroeconomic and financial policy as well as monetary and financial cooperation between the two sides.

TREE NEWS update: China’s State Administration for Market Regulation, Ministry of Public Security, Ministry of Commerce and State Taxation Administration will carry out routine, comprehensive regulatory enforcement against fuel dispenser fraud, state media reported. The move follows joint guidance issued by the four departments in July. The four bodies will regularize supervision and law enforcement targeting cheating at gas pumps.

TREE NEWS update: The Shenzhen Stock Exchange said it took self-regulatory measures against 114 cases of abnormal securities trading this week, covering intraday price ramping and suppression as well as false order submissions. It also reviewed six major corporate matters and reported one suspected violation case to the China Securities Regulatory Commission.

TREE NEWS update: Beijing’s No. 3 Intermediate People’s Court on the 16th sentenced Wei Kaifeng, former deputy director of the Haidian District People’s Congress Standing Committee, to 12 years in prison and a 500,000 yuan fine. Wei received eight years for bribery and five and a half years for abuse of power, with the sentences combined; his illegal gains and their proceeds were confiscated and turned over to the state treasury.

TREE NEWS update: Judge Alvin Hellerstein ruled that Gemini cannot vacate its 2025 CFTC consent order, rejecting the exchange’s argument that the agency’s new enforcement stance and documents obtained after settling justified relief. The order carried a $5 million penalty and an injunction. The CFTC had backed Gemini’s request, but the judge found the new materials insufficient to set the order aside.

TREE NEWS update: The Shanghai Stock Exchange said it placed severely abnormal trading in shares including Xinhua Media under close monitoring this week, and conducted special reviews of 20 major corporate matters involving listed companies. The exchange did not specify the nature of the abnormal trading or name the other companies involved.

TREE NEWS update: China’s State Administration for Market Regulation has launched smart metering supervision pilots across four provincial-level market regulators: Beijing, Shanghai, Jiangsu and Sichuan. Beijing will pilot EV charging piles, residential water, electricity and gas meters, and taxi meters; Shanghai focuses on residential utility meters and electronic pricing scales; Jiangsu targets full-chain smart supervision of electronic pricing scales; Sichuan is advancing smart supervision of electronic pricing scales and fuel dispensers.

TREE NEWS update: Hong Kong Exchanges and Clearing said Chinese government bonds will be accepted as eligible non-cash collateral for margin requirements at HKFE Clearing Corporation and the SEHK Options Clearing House starting Nov 2, 2026. The rule amendments were approved by Hong Kong’s Securities and Futures Commission. Eligible bonds include Ministry of Finance issuances aimed mainly at international markets and Bond Connect bonds traded on the China Interbank Bond Market and issued by the Ministry of Finance or policy banks.

TREE NEWS update: Upbit is suspending digital asset deposits and withdrawals of 1 million Korean won or more with BitMEX starting October 16, after BitMEX terminated its connection to the Travel Rule solution VerifyVASP. Transfers below the 1 million won threshold remain supported. The measure applies only to transactions between the two exchanges.

TREE NEWS update: Hong Kong Exchanges and Clearing (HKEX) said it aims to complete the transition to a T+1 settlement cycle for the Hong Kong cash equities market in the second half of 2028, subject to market readiness and regulatory approval. The exchange published a consultation conclusion on shortening the settlement cycle, which showed broad market support for adopting T+1 in the Hong Kong securities market.