What changed
The week's largest event was a theft. Binance said on October 30 that about US$6.3 billion in crypto had left its hot wallet without authorization, according to South Korea's Financial Services Commission, which convened supervisors, the exchange alliance DAXA, and the major exchanges on November 2 and urged Korean exchanges to move more assets into cold wallets, monitor deposits and withdrawals around the clock, report abnormal access attempts quickly, and add to reserves. Earlier in the week the FSC had begun on-site inspections at Bithumb over a data leak and said security requirements for crypto firms should rise to the level that applies to banks. In Abu Dhabi, ADGM's FSRA said it was engaging closely with Binance.
In the United States the OCC's records show Ripple National Trust Bank's charter consummated on October 26. Ripple says the bank will hold the reserves behind its RLUSD stablecoin, and the community bankers' association suing over the OCC's trust charter rule opposed the approval. The OCC's GENIUS license application forms are with the Office of Management and Budget, with comments due November 23, and the agency will not take applications or waiver requests until they are approved. OFAC designated facilitators of North Korean IT-worker schemes along with their crypto addresses, the SEC brought two crypto fraud cases, and the CLARITY Act did not move.
The UK Budget of October 28 confirmed that Finance Bill 2026-27 will exempt disposals of eligible stablecoins by individuals and trustees from capital gains tax and put their transfers into and out of qualifying lending and liquidity pool arrangements on a no gain, no loss basis from April 2027. HMRC said its crypto-asset reporting service will not be ready on January 1, 2027, though first reports remain due by May 31, 2027, and the FCA announced the settlement of its High Court case against HTX, which has left the UK market. In Russia, Moscow Exchange set December 1 for the start of crypto trading, the exchanger register grew to 23 entries, and NAUFOR became the first self-regulatory organization for the new intermediaries.
Hong Kong said its licensing bill for virtual asset dealing, custody, advice, and management will reach the Legislative Council before the end of 2026, and the Council resumes debate on the bill implementing the OECD crypto reporting framework on November 4. Japan's FSA reconvened its study group on digital and decentralized finance, which is reviewing stablecoin reserve rules and the ¥1 million transfer cap. FATF decided at its October plenary to review how countries implement its virtual asset standard, with results due in June 2027, according to Korea's Financial Intelligence Unit, and kept Vietnam on its list of jurisdictions under increased monitoring. In the UAE, VARA published good practice for VASP disclosures and ADGM issued guidance treating crypto mining as a licensable commercial activity.
What it did to the grades
No status grade changed. The Laws A–Z index grew to 120 instruments with Hong Kong's crypto reporting bill and Nigeria's proposed digital asset rules, and the deadline calendar gained eleven dates.
What the register corrected
Five entries are corrected. The register said Brazil's Resolution BCB 589 starts providers' reporting of client balances, custody, proof of reserves, and staked assets on January 1, 2027. Providers already owe those reports from the day they file for authorization; from January 1 the duty continues after the first phase of authorization and extends to banks and other authorized institutions. The Tape item on the resolution now gives its publication date as September 25. Vietnam's fine on domestic investors who trade outside licensed providers applies only from six months after the first provider is licensed, a condition the entry had left out. Kenya's implementing regulations were gazetted on July 22, 2026; the entry had said July 24. New York's stablecoin regulation was formally proposed in the State Register on July 22, 2026, a step the entry had not recorded. Illinois' registration dates are set by statute, with conduct requirements from January 1, 2027 and registration required from July 1, 2027; the entry had tied them to the pace of rulemaking. The Illinois entry also now records the agreed injunction against the digital asset tax that, according to the plaintiffs, the court entered on October 7.
What comes next
Comments close on the SEC's transfer agent proposal on November 3. On November 4 Kenya's compliance deadline for existing providers passes, FinCEN's A7 comments close, the plaintiffs' summary judgment motions in the Illinois tax cases fall due under the schedule the parties proposed, and Hong Kong's Legislative Council takes up the crypto reporting bill. From November 6 authorized institutions in Brazil may no longer deal with unauthorized providers, under a rule that no longer mentions applicants still in the authorization process. The Senate returns on November 9 with no CLARITY vote on its announced schedule. The window to request a hearing on Florida's stablecoin rules closes November 10, a Commons committee considers the UK's amending crypto regulations on November 11, and the EBA takes over supervision of USDC's own funds, reserves, liquidity, and recovery and redemption plans on November 12. Thailand's baht stablecoin consultation closes November 17, comments on the FCA's perimeter and DeFi guidance close November 18, comments on the OCC's GENIUS application forms close November 23, and ASIC's consultation closes November 27. November 30 brings the Fed, Treasury, ADGM, and MAS deadlines. On December 1 Moscow Exchange plans to open crypto trading, and law-firm trackers expect the European Parliament's economic affairs committee to vote on the EU supervision package the same day. Comments close on the SEC custody proposal on December 7 and the CFTC advance notice on December 14, the CFTC holds a roundtable on round-the-clock trading and tokenization on December 15, and comments close on Canada's draft stablecoin regulations on December 23 and the FCA's financial crime guidance on December 24. The Basel Committee has said it will give an update on its review of the bank cryptoasset standard later this year, Hong Kong's licensing bill is due before year-end, and the GENIUS Act and the OCC's issuer rule take effect on January 18, 2027. The full timeline is on the deadline calendar.
On the watchlist, not yet on the register
Four items are reported but not yet citable to a primary source. The FBI is reported to have attributed the Binance theft to North Korea's TraderTraitor group, but its alert could not be reached. South Korea's ruling party is reported to have said it will decide on deferring the crypto gains tax by the end of November at the latest, and the government reportedly agreed to hold back its detailed tax notice in the meantime. Coinbase is reported to have converted European users' balances of stablecoins that do not comply with MiCA into USDC on October 30. The European Parliament committee's draft compromise on crypto supervision remains known only from law-firm reports ahead of the expected December 1 vote. Each moves onto the register when a primary document can be linked.