Flash News

TREE NEWS update: Payward, the parent company of crypto exchange Kraken, has received final regulatory approval in Dubai, clearing the way for the launch of its UAE operations in the coming weeks. Kraken plans to offer AED-denominated spot and margin trading, staking, xStocks and Krak transfer services, plus institutional OTC spot trading and Kraken Prime. Its crypto derivatives business still requires further regulatory approval.

TREE NEWS update: EU foreign ministers approved a sanctions list of nearly 1,600 targets aimed at Russia’s military-industrial complex, the bloc’s foreign policy chief Kaja Kallas said on the 12th. Kallas, the EU High Representative for Foreign Affairs and Security Policy, announced the adoption of the list in a statement. No further details on the named entities or measures were given.

TREE NEWS reports: EU High Representative for Foreign Affairs and Security Policy Kallas said on the 12th that EU member states’ foreign ministers have just adopted a sanctions list targeting Russia’s military-industrial sector, involving nearly 1,600 entries. Kallas did not further specify the specific entities sanctioned on the list or the details of the measures.

TREE NEWS update: EU foreign ministers approved a list of around 1,600 sanctions targeting Russia’s military-industrial complex on the 12th, according to EU foreign policy chief Kaja Kallas. Kallas, the EU High Representative for Foreign Affairs and Security Policy, announced the adoption of the list in a statement. No further details on the targets or measures were disclosed.

TREE NEWS update: The European Securities and Markets Authority has called for noncompliant stablecoin services to be wound down by Jan. 8, in an opinion that covers custody and transfers. The guidance moves beyond earlier advice that had allowed those services to continue, widening the scope of what EU firms must exit.

TREE NEWS update: Zhu Hexin, deputy governor of the People’s Bank of China and head of the State Administration of Foreign Exchange, will attend the opening ceremony of the 2026 Financial Street Forum and deliver a keynote speech, SAFE’s FX Research Center director Chen Zhiwei said at an October 12 press conference. SAFE will host a dedicated session on the morning of October 22, the organizing committee said.

TREE NEWS update: The 2026 Financial Street Forum annual meeting will open in Beijing on October 19, with a series of financial reform and development policies to be released during the event. The forum’s agenda centers on the concentrated rollout of those policy measures.

TREE NEWS update: Pando Finance will list its Solana ETF on the Hong Kong Stock Exchange on October 13, with an estimated annual fee of 1.6%. The fund will hold SOL through HashKey and will not stake, use leverage or pay dividends. It becomes Hong Kong’s second Solana ETF, following ChinaAMC’s.

TREE NEWS update: Guizhou province published an implementation plan to shift baijiu sales toward selling a lifestyle, pledging faster financing for core liquor companies. The plan calls for a green channel to respond promptly to their funding needs, comprehensive financial services spanning settlement, financing and treasury management across the baijiu supply chain, and support for local financial institutions to issue financial bonds to fund the shift.

TREE NEWS reports: The Financial Stability Board flagged cross-border stablecoin risks and AI-related cybersecurity threats and urged G20 policymakers to back stronger safeguards. The global watchdog issued the warning ahead of the G20, calling for tighter oversight of the two areas.

TREE NEWS update: Hong Kong Exchanges and Clearing CEO Chan Yiting said in a CEO blog post on October 12 that the exchange is actively studying extending night-session trading hours for derivatives. HKEX is also preparing to include REITs in Stock Connect and to add RMB equity counters to Southbound Stock Connect, and will consult on optimizing listing rules for specialist technology companies and GEM.

TREE NEWS update: UK authorities have frozen a London mansion and luxury watches worth 170 million yuan (about $24 million) belonging to Li Tian, finance chief of Cambodia’s Prince Group, widening an asset probe tied to alleged transnational cyber fraud and money laundering. The move follows freezes on multiple London properties linked to group founder Chen Zhi and Hu Xiaowei. In October 2025 the US Treasury sanctioned Prince Group and associates, naming Li as a close Chen Zhi associate managing illicit fund flows and bulk cash smuggling.

TREE NEWS update: China and the EU reached consensus on multiple outcomes under their trade and investment consultation mechanism, including intensive talks on hybrid and electric vehicle trade, China’s Ministry of Commerce said. The two sides handled economic and trade differences and mutual concerns in a balanced way, based on mutual respect and equal consultation. Beijing said the outcomes help maintain a stable and balanced key trade partnership.

TREE NEWS update: French lawmakers have backed a rule requiring holders to report crypto wallets worth more than $112,000. Holders could face fines of up to 10,000 euros for failing to declare qualifying assets. The measure advances as France tightens reporting requirements for digital asset holdings.

TREE NEWS update: Former Acting CFTC Chair Caroline Pham said the agency has authority to regulate almost everything except ‘onions and box office receipts,’ and that its recent proposals are ‘absolutely the kind of protection’ needed for US crypto retail traders. Pham made the comments as the CFTC advances a rulemaking agenda covering retail trading in digital assets.

TREE NEWS update: Beijing’s Chaoyang District Public Security Bureau said on Oct. 12 it has opened a criminal investigation into companies linked to CreditEase over suspected illegal activity. Multiple suspects have been placed under criminal coercive measures, including the firms’ actual controllers — a 53-year-old man surnamed Tang and a 51-year-old woman surnamed Zhao.

TREE NEWS reports: The UK government is drawing up plans to make safety reporting and monitoring mandatory for frontier AI. The proposal would require firms developing the most advanced models to report on safety and submit to monitoring. No timeline, legislative vehicle or scope has been disclosed.

TREE NEWS update: China has issued a document titled “Opinions on Strictly Investigating and Punishing Illegal and Criminal Acts Endangering Food Safety in Accordance with the Law.” The opinion calls for strict legal enforcement against food safety violations. No further details on the measures or issuing authorities were provided in the material.

TREE NEWS update: China’s Foreign Ministry announced countermeasures against Paraguay’s Minister of Information and Communication Technologies, Gustavo Villate, in a retaliatory move. The ministry did not specify the measures in the announcement. The action marks an escalation in Beijing’s response to Paraguay’s diplomatic alignment with Taiwan.