Significant developments are unfolding across the global Web3 landscape, with major announcements from both institutional players and government entities. The Cyberspace Administration of China has released its twentieth batch of registered blockchain information service providers, continuing the country’s regulatory framework for blockchain technologies. In a major institutional move, Citibank has announced plans to launch cryptocurrency custody services in 2026, with the banking giant also exploring stablecoin development opportunities as part of its digital assets strategy. Bhutan is undertaking a groundbreaking national digital transformation by migrating its national identification system to the Ethereum blockchain, marking one of the most significant government adoptions of blockchain technology to date. Kenya’s parliament has passed the Virtual Asset Service Provider Act, which now awaits presidential signature to become law. The legislation is expected to boost cryptocurrency investments and provide regulatory clarity in the East African nation. Several technical upgrades are scheduled across major platforms. Coinbase will conduct system maintenance on October 25th, while Hyperliquid prepares to activate its HIP-3 upgrade, enhancing the platform’s capabilities. In corporate developments, Ethena Labs has transferred its USDtb smart contracts to Anchorage Digital, and Singapore’s High Court has approved WazirX’s restructuring plan, providing the exchange with a path forward. European asset management firm Amundi has revealed plans to launch a Bitcoin ETF in Europe, expanding cryptocurrency investment options for European investors. Pyth Network has formed a strategic partnership with Kalshi to deliver real-time prediction market data onchain, enhancing data accessibility and reliability in decentralized prediction markets. The industry continues to focus on regulatory and technological advancements, with recent developments in verifiable AI systems through EigenCloud’s EigenAI and EigenCompute components, and ongoing discussions about cryptocurrency taxation and AML compliance frameworks for financial institutions.
