Flash News

TREE NEWS update: People’s Bank of China Governor Pan Gongsheng met with Goldman Sachs President and Chief Operating Officer John Waldron, the central bank said. The two sides exchanged views on the global economic and financial situation and China’s macroeconomic policy. No further details of the meeting were disclosed.

TREE NEWS update: Thailand’s Securities and Exchange Commission has issued rules permitting crypto ETFs limited to bitcoin and ether, with the framework taking effect Oct. 16. The rules cover custody, exposure and trading requirements for the new products. Only bitcoin and ether qualify under the initial scope set by the regulator.

TREE NEWS update: China’s National Development and Reform Commission said developing “new quality productive forces” requires an energy revolution to provide reliable security guarantees. In a Q&A on the Opinions on Developing New Quality Productive Forces, the NDRC cited frequent regional conflicts, the politicization and weaponization of energy issues, and heightened volatility in global energy markets. It said meeting growing power demand from the national integrated computing network, next-generation communications networks, integrated circuits, AI and new energy vehicles requires raising the share of domestic energy supply.

TREE NEWS update: The UK has sanctioned three crypto exchanges and payment processors, citing links to thousands of Russian entities and the sanctioned HTX exchange. The designations target firms accused of facilitating illicit Russian funds. The action follows the UK’s broader sanctions push against crypto channels used to evade restrictions.

TREE NEWS update: China’s Communist Party Central Committee and State Council issued an opinion on developing new quality productive forces, calling for the orderly development of advanced nuclear fission power. The document sets out an energy revolution aimed at peak carbon and carbon neutrality, including a high-share renewable power system, improved renewable consumption and dispatch policies, and demonstration of major application scenarios.

TREE NEWS update: Senate subcommittee ranking member Richard Blumenthal sent Cantor Fitzgerald Chairman Brandon Lutnick 13 requests for records concerning the firm’s Tether stake and custody role, with responses due October 23. The demands center on the brokerage’s financial ties to the stablecoin issuer.

TREE NEWS reports: The U.S. government transferred 12,267 BTC, worth about $1 billion, out of a wallet holding coins seized from the 2016 Bitfinex hack on Thursday. The bitcoin went to unlabeled wallets, and no exchange deposit was recorded. The coins stem from the 2016 Bitfinex breach, which the U.S. later seized and has been liquidating.

TREE NEWS update: The European Securities and Markets Authority has issued an opinion telling national regulators that crypto platforms must wind down all services tied to stablecoins not authorized under MiCA, with a three-month limit for clearing existing exposure. The guidance covers every crypto service linked to unauthorized stablecoins and gives firms a deadline to unwind outstanding positions.

TREE NEWS update: France’s Finance Committee approved taxes on stablecoin swaps as part of the country’s 2027 budget bill. The committee also backed taxing unrealized crypto gains when households holding more than 800,000 euros move abroad. The measures now advance in the legislative process for the 2027 budget.

TREE NEWS update: China’s Communist Party Central Committee and State Council issued an opinion on developing “new quality productive forces,” vowing to strengthen antitrust and anti-unfair competition enforcement and improve market-access rules. The document also calls for stronger governance of artificial intelligence and biotechnology, smarter cross-departmental supervision using data-driven decision-making, and research into a tax system suited to new business models.

TREE NEWS update: The Communist Party of China Central Committee and the State Council issued a document on developing new quality productive forces, stating that corporate R&D projects meeting national strategic needs will be elevated to national projects through formal procedures. The policy also establishes a corporate R&D reserve fund system, raises the super-deduction ratio for SME R&D spending, and encourages private firms to lead major national technological breakthroughs.

TREE NEWS update: The Communist Party of China Central Committee and the State Council issued an opinion on developing new quality productive forces, calling for the forward-looking layout of future industries including quantum technology, biomanufacturing, hydrogen and nuclear fusion energy, brain-computer interfaces, embodied intelligence and sixth-generation mobile communications. The document calls for building a relatively complete industrial ecosystem and establishing investment-growth and risk-sharing mechanisms for future industries, using existing fiscal policy support and guiding more social capital into the sector.

TREE NEWS update: China’s securities regulator has opened an investigation into Yu Faxiang, the actual controller of Xiangyuan Cultural Tourism, over suspected personal violations of information disclosure rules. The CSRC said it decided to file the case under the Securities Law of the People’s Republic of China and the Administrative Penalty Law of the People’s Republic of China. No further details on the alleged violations were disclosed.

TREE NEWS update: China’s Communist Party Central Committee and State Council issued an opinion on developing ‘new quality productive forces,’ calling for deeper intra-industry and intra-product specialization and cross-industry, cross-region integration to avoid ‘involution-style’ competition. The document targets strategic emerging sectors including next-generation information technology, new energy, new materials, smart connected new energy vehicles, robotics, biomedicine, high-end equipment and aerospace, and backs low-altitude economy and commercial space development on condition of safety.

TREE NEWS update: China’s Communist Party Central Committee and State Council issued a document on developing ‘new quality productive forces,’ calling for the full implementation of the ‘AI Plus’ initiative. The plan pushes AI adoption across traditional industries, including intelligent connected new energy vehicles, AI phones and computers, and humanoid robots, and pledges stronger supply of computing power, algorithms and data. It also calls for monitoring, risk-warning and emergency-response systems to keep AI safe, reliable and controllable.

TREE NEWS update: China’s securities regulator has told non-sector, non-theme funds they must maintain diversified holdings and may not concentrate investments in a single industry or theme. Under the CSRC’s new Operating Measures, products positioned as all-market stock pickers must allocate relatively broadly and cannot effectively turn into single-track funds, addressing the practice known as “broad benchmark, narrow bets.”

TREE NEWS update: The NFL filed a brief backing New Jersey arguing that Kalshi’s sports prediction contracts are gambling rather than swaps under Dodd-Frank, and asked the Supreme Court to resolve a split among three federal appeals courts over the products. The league’s filing adds the NFL to the litigation over whether event contracts tied to sports outcomes fall under federal derivatives regulation.

TREE NEWS update: China’s securities regulator, the CSRC, has opened public consultation on a draft revision of the rules governing publicly offered securities investment funds and accompanying provisions. The draft requires fund managers to take primary responsibility for investment operations, strengthen counter-cyclical positioning and risk controls, and keep investment styles stable by making benchmark indices more binding. Industry- and theme-named funds must clearly define the investment direction their names indicate, while non-theme funds must adhere to diversified investment principles.

TREE NEWS update: The China Securities Regulatory Commission on October 9 released draft amendments to the rules governing publicly offered securities investment funds for public comment. The draft removes the existing requirement that a sponsored fund be terminated if its assets stay below RMB 200 million three years after launch. It also tightens oversight of “mini funds,” requiring managers that keep running them to bear fixed operating costs and establishing a mandatory exit mechanism for funds with excessively low assets.

TREE NEWS update: China’s securities regulator on October 9 released draft rules for public securities investment fund operations that would lower the launch threshold for equity funds and funds of funds to 50 million yuan and 50 million units, down from 200 million yuan and 200 million units. The threshold for fixed-income funds would remain unchanged.