The EU is reviewing MiCA rules that could require noncustodial Bitcoin wallet developers to get certification before public release. ESMA said open source, self custody, smart contracts and permissionless infrastructure should not automatically be treated as regulated intermediaries. No rules changed. Report due June 30, 2027 under MiCA Article 140.

China released a 19 measure policy on October 9 proposing a national blockchain network and an integrated computing power network. It covers data ownership, trading rules and crossborder data flow trials, with no launch date or budget given. Separately, the People's Bank of China added eight operators on August 17, bringing the digital yuan network to 30 approved banks. Crypto curbs remain.

Moscow Exchange plans to launch regulated crypto trading on December 1, its securities market head Boris Blokhin said, with pilot testing that started a week ago. Rules in Russia took effect September 1 and allow Central Bank licensed venues to serve citizens, limiting non accredited investors to Bitcoin, Ethereum and USDT. Sberbank estimates first year volume at 4 trillion rubles.

France's National Assembly finance committee adopted an amendment to the 2027 budget bill taxing crypto swaps into stablecoins from January 1, 2027. The amendment, tabled by deputy Nicolas Sansu, closes a tax loophole. A second amendment allows crypto losses to be carried forward for ten years. Germany already taxes such swaps as disposals. The measures await plenary and Senate approval.

The European Securities and Markets Authority has ordered EU crypto firms to stop offering services for stablecoins without MiCA authorization within three months. The deadline covers exchanges, custodians and wallet providers that list or support noncompliant tokens. MiCA requires issuers to meet reserve, redemption and transparency standards. Firms that fail to comply risk fines or license loss.

Thailand's securities regulator published 11 notifications on Oct. 8, finalizing the regulatory framework for spot bitcoin and ether ETFs. The rules take effect Oct. 16. Qualifying funds must be passively managed and, in each fiscal year, hold an average net exposure of at least 80% of net asset value in a single crypto asset. As of Oct. 9, no ETF sponsors or tickers had been disclosed, and the timing of any product listing remains undecided. The framework covers only bitcoin and ether.

The International Monetary Fund said tokenized stocks are less liquid and more volatile than traditional stocks. The agency flagged these traits as key differences for investors watching blockchain based equity products. The statement did not include specific data or regulatory action.

The CFTC wants prediction markets classified as swaps while keeping casino gambling out, setting up a Supreme Court showdown with the states.