Odaily Report: The New York State Department of Financial Services has issued advertising and marketing guidance for licensed virtual currency institutions, requiring relevant institutions to update their advertising and marketing policies and procedures by May 10, 2027, and to review them at least annually while retaining records for inspection. The guidance requires that marketing content be evidence-supported and verifiable, must not exaggerate performance or regulatory status, and disclosures must be clear and prominent; institutions must also establish a review process for marketing materials, conduct due diligence on third-party promoters, and promptly address impersonation of their brands.

Odaily reports: Fintech company SoFi has integrated its issued stablecoin SoFiUSD into the Polygon Open Money Stack. The stablecoin is the first to be issued by a nationally chartered US bank and was previously live on Ethereum and Solana; SoFi's more than 17 million users can buy, hold, and swap SoFiUSD through the SoFi app without needing to open a separate crypto wallet or manually bridge across chains.SoFiUSD is redeemable 1:1 with the US dollar, issued by SoFi Bank, which is regulated by the US Office of the Comptroller of the Currency, and is already used to settle all of SoFi's Mastercard card business. The stablecoin is not a bank deposit, is not insured by the FDIC or SIPC, and is not guaranteed by the bank or classified as legal tender. (Decrypt)

Odaily reports: Coinbase EU Policy Chief Roeland Van der Stappen stated that tightening regulation of decentralized finance (DeFi) in the European Union could prompt regulated crypto platforms to restrict or cease offering DeFi services, pushing users toward platforms with less investor protection. He noted that if suitability tests were extended to DeFi services beyond lending, stablecoin swaps and leveraged lending could be treated in the same manner.Roeland Van der Stappen said that lending, liquidity provision, and on-chain swaps are most likely to be affected, and some service providers may scale back services or completely revoke DeFi access. He believes that restricting access through regulated platforms could also fragment DeFi liquidity, leading to worse trading prices for EU users and driving users toward service providers outside the EU with fewer safeguards. (Cointelegraph)

Odaily reports: According to official sources, Dr. Giovanni Cunti, CEO of Gate Europe, attended FinanceMalta 2026 on November 11 and delivered a keynote speech titled "The Evolution of Crypto and Web3 in Europe and Malta: An Overview," discussing the development of Europe's crypto assets and Web3 infrastructure, the impact of MiCA and emerging regulatory frameworks, and Malta's role in the digital asset sector. Gate participated in this year's conference as a Platinum Plus sponsor, engaging with industry participants in financial services and digital assets to exchange views on the new changes in Europe's financial ecosystem. The speech also focused on the process of integrating digital assets into the regulated financial system, the development trajectory of Europe's crypto industry, and how Malta is leveraging its existing experience to address the new demands of the industry's maturation phase. Gate Europe has obtained the EU's Markets in Crypto-Assets Regulation (MiCA) license and a Payment Institution (PI) license, providing compliance support for its crypto asset and payment-related services in Europe.

According to an official announcement, Gate will launch 5 US stock perpetual contracts on its contract stock section at 17:00 (UTC+8) on November 12: FRHC (Freedom Holding), DUOL (Duolingo), FISV (Fiserv), KMB (Kimberly-Clark), and MS (Morgan Stanley). All contracts are settled in USDT, support 1–20x leverage for both long and short positions, and trading bots and copy trading will be enabled within 1 hour after launch.

Odaily reports that Gate has released its October 2026 Transparency Report. In October, Gate's core metrics maintained strong growth, with data simultaneously indexed by CoinDesk, Glassnode, DefiLlama, and other institutions. According to DefiLlama data, Gate's 24-hour derivatives trading volume reached $12.77 billion; Glassnode's weekly report shows that Gate contributed 42% of the global net increase in tokenized gold perpetual futures open interest, ranking first globally, while its tokenized gold spot market share surged 20-fold; according to CoinDesk's monthly Exchange Review, Gate's derivatives market share rose to 10.2%, with monthly derivatives trading volume reaching $394 billion, ranking third among global CEXs.On the TradFi front, Gate's global equities and ETF coverage exceeds 12,800 instruments, currently spanning U.S., Hong Kong, Korean, Japanese, and Taiwanese stocks. gStocks cumulative trading volume has surpassed $8.4 billion, with over $2.2 billion in the past 30 days; ETF monthly trading volume is approaching 20 billion USDT, and CFDs exclusively offer weekend gold trading. Additionally, the events market cumulative trading volume has exceeded $900 million, ranking second among all Polymarket access channels, demonstrating strong growth momentum across its trading ecosystem.As digital assets and traditional finance accelerate their convergence, Gate continues to deepen its multi-asset layout and trading innovation, leveraging its liquidity and product advantages to build a comprehensive trading infrastructure connecting digital asset and traditional financial markets.

Odaily Report: South Korea's Financial Services Commission (FSC) plans to allow cryptocurrency exchanges to suspend deposits and withdrawals when a hack is suspected, without waiting for confirmation of an attack. The FSC said Thursday that it will issue no-action letters permitting exchanges to precautionarily suspend related operations under specific conditions.The FSC also requires exchanges to implement round-the-clock monitoring and incident response, increase the proportion of cold wallet holdings, and strengthen insurance coverage and reserve funds. Exchanges unable to maintain continuous monitoring may only process deposits and withdrawals when staff are on duty, and must notify users in advance.South Korean cryptocurrency exchange GOPAX suspended trading, deposits, and regular withdrawals on Friday after receiving a hacking threat, though its representatives stated that no security breach occurred. Trading platform Prabang suspended services on October 24 after detecting abnormal withdrawals from its hot wallet, reporting losses of approximately $70,000.The FSC found cybersecurity deficiencies in 130 of 555 financial companies inspected nationwide in October, and included GOPAX operator Streami and Prabang among 16 companies involved in previous security incidents. (Cointelegraph)

Odaily reports: South Korea's draft "Digital Asset Basic Act," expected to be published this month, will propose that a bank-led consortium be responsible for issuing the Korean won stablecoin. However, even if banks handle issuance, exchanges and third-party payment platforms may still handle the circulation layer connecting consumers and merchants, with user entry points and application scenarios becoming key battlegrounds.It is reported that the business integration of Upbit operator Dunamu and Naver Financial may become an important variable. If related services are approved to be connected, Dunamu could generate revenue through stablecoin transactions, while Naver Financial is expected to collect fees through merchant payments and settlements. South Korean financial regulatory officials noted that if stablecoins are used for electronic payments, related businesses may need to comply with the Electronic Financial Transactions Act, and clarify obligations including protection of deposit funds and settlement funds, transaction information management, and dispute resolution. (zdnet)

Odaily: Global financial services provider Apex Group has joined the Hedera Council and will participate in the governance of the Hedera public chain. Apex Group, which services assets exceeding $3.5 trillion, will explore using the Hedera network for its own tokenization business. Hedera stated that Apex is the first transfer agent and fund service provider to use a distributed ledger as the registry record for regulated securities.

Odaily reports that Xie Jiaxin discussed Bitget's Open Custody Network (OCN), noting that the core insight is the inherent limitations in the traditional model separating asset custody from trading services. This led to the concept of "assets in the bank, trading on Bitget." Through OCN, banks, professional custodians, and Bitget's trading infrastructure are connected—allowing banks and professional custodians to leverage their strengths in asset custody while Bitget focuses on trading services, liquidity, and trading experience.Financial services should not force users to choose between asset security and trading efficiency. Instead, better infrastructure should give users more options—giving choice back to users.