[New York Fed Analyzes Advantages of Permissionless Blockchain Payments] The New York Federal Reserve Bank analysis indicates that permissionless blockchain surpasses centralized instant payment systems in terms of payment convenience. This conclusion is based on the 'GENIUS Act' passed in July 2025, which clarified regulatory guidelines for stablecoins.

The revised 2025 plan by the US Securities and Exchange Commission (SEC) proposes clearer regulatory rules for digital assets and simplifies related supervision processes, aiming to promote the establishment of a structured regulatory framework in the cryptocurrency industry. （Cointelegraph）

[Federal Reserve Beige Book: Economic Activity Remains Flat, Consumer Spending Divergence Intensifies] The Federal Reserve's Beige Book indicates that U.S. economic activity has remained largely unchanged in recent weeks, with overall consumer spending declining further except among high-end consumer groups. The report notes a slight weakening in the U.S. labor market and moderate price increases. Some surveyed businesses warned of potential economic slowdown risks in the coming months, while the manufacturing sector displayed cautious optimism. Due to the interruption of key economic data collection during the U.S. government shutdown lasting until November 12, Federal Reserve officials will not have access to complete labor market and inflation data for October to November ahead of the December policy meeting.

[Franklin Templeton Launches XRP ETF, Diversified Crypto Portfolio ETFs Expected to Emerge] Franklin Templeton's Head of Digital Assets stated that following single-asset ETFs, diversified cryptocurrency portfolio ETFs will become a trend. The company launched an XRP ETF this week. Bloomberg predicts that over 100 new cryptocurrency ETFs will be introduced in the next six months.

Economist Paul Krugman suggests that the decline in Bitcoin prices may be related to US President Trump. （Decrypt）