Flash News

TREE NEWS update: China’s State Administration for Market Regulation will implement a mandatory national standard, GB 46516—2025, on general safety requirements for child care products, alongside three supporting recommended standards, from November 1, 2026. The standards cover strollers, baby walkers and infant safety barriers, providing unified technical support for design, production, inspection and supervision.

TREE NEWS update: The Beijing Fintech Industry Alliance and 15 institutions including major state-owned banks, insurers and tech firms jointly issued a security initiative for AI agents in financial services. The initiative states that without explicit authorization from financial institutions, no party may perform screen reading, simulated clicks or automated control of financial client apps. Screenshot and screen-recording data collection must follow the called party’s security policies and must not bypass or downgrade existing protections.

TREE NEWS update: China’s Financial Law draft will be submitted for a second reading at the 25th session of the 14th National People’s Congress Standing Committee, to be held in Beijing from Nov. 2 to 6. Huang Haihua, spokesperson for the NPC Standing Committee’s Legislative Affairs Commission, said on Oct. 30 that the revised draft will add targeted rules on online marketing activities, strengthen protections for financial consumers and investors, and tighten unified regulation of asset management products and services and cross-border financial activities.

TREE NEWS update: China’s Foreign Ministry said on October 30 that it firmly opposes and strongly resents the United States over a reported decision by US regulators to bar all Chinese laboratories from testing US electronic devices, including smartphones. Spokesperson Guo Jiakun said the move overstretches national security and abuses state power, obstructing normal business ties and harming US firms and consumers alike. Beijing will take necessary measures to protect its legitimate rights, he said.

TREE NEWS update: Bithumb said it will terminate trading support for Blur (BLUR) and Core (CORE) on Nov. 30, 2026, at 15:00 KST, with withdrawal support ending Dec. 30, 2026, at 15:00 KST. The exchange said BLUR’s submitted materials did not adequately resolve issues tied to its designation as a trading-warning asset, while CORE was delisted because the reasons for its trading-warning designation were not resolved. API trading will stop and open orders will be canceled after delisting.

TREE NEWS update: China’s Ministry of Civil Affairs has issued the Social Organization Deregistration Guidelines, its first comprehensive regulatory document governing the deregistration of social organizations, the ministry said. The guidelines set requirements covering deregistration grounds, liquidation procedures, deregistration registration and special-case application guidance, aimed at clearing out inefficient and ineffective organizations and optimizing the sector’s structural layout.

TREE NEWS update: China’s State Administration for Market Regulation issued a consumer safety advisory on external discharge sockets for new energy vehicles, CGTN reported. The device converts a vehicle’s direct-current battery power into standard household alternating current for outdoor camping, home emergencies and rescue operations. The regulator urged consumers to follow “select, use and maintain” precautions to ensure safe operation of the product.

TREE NEWS reports: TRM Labs has attributed the $6.3 billion Binance hack to North Korea’s TraderTraitor group with high confidence, the blockchain analytics firm said. Separately, on-chain investigator ZachXBT identified stolen funds from the Binance and Bitget hacks converging at the same address, linking the two incidents.

TREE NEWS update: China’s National Energy Administration on Oct. 30 called for accelerating major energy projects and expanding effective investment in the energy sector, following an expanded party group meeting. The regulator also urged progress on the 15th Five-Year Plan energy blueprint and its sub-plans, while stressing coal output and price stability, winter power and gas supply, and workplace safety.

TREE NEWS update: Binance has suspended all deposit and withdrawal functions after suffering a $6.3 billion hack, described as the largest in crypto history, the exchange said. Binance pledged to absorb all losses from the breach. The incident comes as global tech stocks fell, with Nasdaq futures down 2% and Asian chip shares sharply lower.

TREE NEWS update: China’s disciplinary and supervisory agencies have filed 8.105 million corruption cases and disciplined 7.922 million people since the 18th Party Congress, including 963 centrally managed officials, Zhang Fuhai, deputy secretary of the Central Commission for Discipline Inspection and deputy head of the National Supervisory Commission, said at a press conference on the CPC Central Committee’s decisions. The remarks outlined a four-point plan to advance a corruption-prevention framework under which officials dare not, cannot and do not want to be corrupt.

TREE NEWS update: China’s State Administration for Market Regulation held a corporate fair-competition forum in Beijing on Oct. 28, meeting with executives from internet platforms, automotive and pharmaceutical companies to discuss antitrust and anti-unfair-competition work and the building of a unified national market. Deputy Director Pan Xiaodong attended and spoke, and the regulator solicited companies’ opinions and suggestions.

TREE NEWS update: Binance estimated the total impact of a security incident at about $6.3 billion, saying user funds are safe. The exchange said the breach may involve a DevOps engineer’s laptop, with attackers gaining access to a service container and submitting unauthorized withdrawal transactions. Binance said its SAFU (Secure Asset Fund for Users) will bear all losses.

TREE NEWS update: Binance-linked wallets saw about $5.64 billion in asset outflows after a hack, including $3.53 billion on Ethereum, $1.45 billion on Bitcoin and $628 million on Tron. Tether and Circle froze at least $2.316 billion in stablecoins, and Binance said confirmed frozen assets total roughly $3 billion. Co-founder Yi He said user funds are safe and Binance will bear all losses from the attack, with deposits and withdrawals paused pending a security review.

TREE NEWS update: German Chancellor Friedrich Merz said the European Union will be the first to propose a better plan when free trade and the rules-based trade order come under pressure, and that the bloc wants to offer opportunities beyond bilateral agreements. Merz made the remarks in comments published on the subject of EU trade policy. He did not specify what the plan would contain or when it would be presented.

TREE NEWS update: Binance said its verified frozen funds total approximately $3 billion, the exchange announced. The figure covers funds frozen following verification, Binance said, without specifying the period or the number of accounts involved. The exchange did not disclose further details on the seizures or the authorities involved.

TREE NEWS update: Binance has suspended all deposit and withdrawal functions while it conducts a security check, freezes funds and works with law enforcement, the exchange said in a post on X. Binance said it will bear all losses and is working continuously to resolve the issue, and will publish a full post-mortem report once the investigation is complete. The post did not disclose the size of the losses or the nature of the incident.

TREE NEWS reports: Pre-restructuring periods for distressed A-share companies are stretching well beyond a year, with Zhongji Health on Oct. 27 disclosing a fifth extension to Jan. 28, 2027, *ST Kaiyuan’s eighth extension expiring Oct. 23 after more than two years, and Tianbang Food’s process running over 26 months since August 2024. Industry figures attribute the delays to a regulatory shift from preserving listing shells to rescuing underlying businesses.

TREE NEWS update: Binance said customer funds are safe following a security incident, while issuer-imposed freezes are restricting token movements. The exchange has not established how much has been recovered or ultimately lost. No timeline or further details were provided.

TREE NEWS update: Bithumb has confirmed a suspected security issue at Binance and advised users to be cautious when withdrawing crypto assets to the exchange. The South Korean exchange said it is monitoring the situation and may restrict withdrawals to Binance if necessary to protect user assets, with any changes to deposits and withdrawals to be announced separately. Upbit issued a similar warning earlier.