The onshore RMB/USD closed at 6.9742

ZachXBT posted on X platform stating that UPay allows the illegal market Xinbi to issue Visa encrypted cards under its own brand, and requested UPay to explain the situation. ZachXBT claimed that Xinbi is involved in pig killing, fraud, money laundering, and human trafficking.

Member of the Executive Committee of the European Central Bank, Schnabel, advocates that central bank currency must be put on chain to prevent the tokenization market from overly relying on private or foreign currency settlement assets.

Starting from November 1, 2026, Binance will adjust the cryptocurrency deposit and withdrawal procedures for Brazilian users to comply with Resolution 521/2025 of the Brazilian Central Bank. When users send or receive encrypted assets outside of Brazil, they need to provide the transfer purpose and confirm the identity of the other party. The relevant requirements apply to foreign trading platforms and self custodial wallets, and transfers within Brazil are not affected. If the counterparty is not an authorized institution in the Brazilian foreign exchange market, the maximum limit for each transaction is $100000, which can be increased to $500000 in the future. Failure to provide information will result in withdrawal being unable to be submitted or recharge pending processing. This adjustment does not involve Travel Rule.

According to data from the US Bureau of Labor Statistics, in September, the US information industry lost 10000 jobs, financial activities lost 7000 jobs, and the professional and business services industry lost 9000 jobs. The impact of artificial intelligence on employment is still unclear.

The CEO of BitGo stated that there are significant risks associated with cryptocurrency one-stop service platforms such as Coinbase, whose structure is similar to the situation before the collapse of Lehman Brothers, and the lack of regulation has led to a weak market structure. (Source: The Block)