🌐 𝗗𝗶𝗴𝗶𝘁𝗮𝗹 𝗔𝘀𝘀𝗲𝘁𝘀 𝗥𝗲𝗴𝘂𝗹𝗮𝘁𝗼𝗿𝘆 𝗨𝗽𝗱𝗮𝘁𝗲 | 6 November 2026

Over the past two weeks, regulatory developments across major markets have highlighted two parallel trends: continued progress towards institutional Digital Assets adoption and tighter regulatory oversight of market participants.

United States – Institutional custody and regulatory oversight

The SEC has advanced two separate initiatives: proposed amendments to institutional custody rules for Digital Assets, and a separate broker-dealer regulatory proposal now under White House review. Both developments signal continued efforts to clarify the regulatory treatment of Digital Assets within traditional financial markets.

Attention will also turn to how the new Congressional balance may shape future Digital Assets legislation.

Sources: SEC – Proposed custody rules | Unchained – SEC broker-dealer proposal

China & Hong Kong – Two contrasting approaches

China is reinforcing its restrictive stance by bringing virtual currencies and cross-border capital flows further into its anti-corruption efforts. Meanwhile, Hong Kong is expanding its Project Ensemble pilot, advancing tokenized deposits and 24/7 interbank settlement infrastructure for institutional participants.

Sources: CoinDesk – China’s anti-corruption directive | HKMA – Project Ensemble

European Union – ESMA advances market surveillance reporting

On 21 October, ESMA published the reporting instructions and technical specifications for its MIDAS system, including data formats and JSON files for crypto-asset record-keeping and order-book reporting. The publication provides further technical detail for the system’s market surveillance framework.

Source: ESMA – MIDAS reporting instructions

Thailand – Stablecoin framework

The Bank of Thailand has opened public consultations on proposed regulatory principles for Thai baht-backed stablecoins, reflecting continued efforts to establish a framework for digital payment innovation while maintaining financial stability.

Source: Thairath – Bank of Thailand stablecoin consultation

Brazil – A new licensing landscape

Brazil’s October 30 deadline for existing Virtual Asset Service Providers to submit initial authorization applications has passed. Providers that submitted applications on time may continue operating while their applications are reviewed, while those that did not apply must wind down their activities within the applicable transition period.

A further milestone takes effect today, November 6, as new banking and payment restrictions under BCB Resolution No. 589 tighten access to financial infrastructure for unauthorized platforms.

Sources: Central Bank of Brazil – Resolution BCB No. 589 | VASP Tracker – Brazil’s October 30 deadline

Jamaica – VASP licensing regulations approved

On 30 October, Jamaica’s Senate affirmed the Virtual Asset Service Providers (Licensing) Regulations, 2026. The regulations establish the practical requirements for obtaining and maintaining a licence, including governance, ownership disclosures, customer asset protection, AML controls and ongoing reporting obligations. This completes an important step towards operationalising the country’s VASP regulatory framework.

Source: Jamaica Information Service – Virtual Assets Regulations approved in the Senate

Kenya – VASP transition period expires

Kenya’s one-year transition period under the Virtual Asset Service Providers Act 2025 officially ended on November 4. The final implementing regulations were published in July 2026, establishing the framework for licensing and supervision. With the transition deadline now passed, providers are expected to meet the applicable licensing requirements, and the licensing status of existing market participants remains an important development to monitor.

Sources: Kenya Law – Virtual Asset Service Providers Act 2025 | VASP Tracker – Kenya transition period ends

𝘍𝘰𝘳 𝘪𝘯𝘧𝘰𝘳𝘮𝘢𝘵𝘪𝘰𝘯𝘢𝘭 𝘱𝘶𝘳𝘱𝘰𝘴𝘦𝘴 𝘰𝘯𝘭𝘺; 𝘵𝘩𝘪𝘴 𝘶𝘱𝘥𝘢𝘵𝘦 𝘥𝘰𝘦𝘴 𝘯𝘰𝘵 𝘤𝘰𝘯𝘴𝘵𝘪𝘵𝘶𝘵𝘦 𝘭𝘦𝘨𝘢𝘭 𝘰𝘳 𝘳𝘦𝘨𝘶𝘭𝘢𝘵𝘰𝘳𝘺 𝘢𝘥𝘷𝘪𝘤𝘦.