Traders identify continued divergence between rising volume and flat price as a key accumulation signal — often a precursor to volatility expansion within 24–48 hours.

[South Korea's Stablecoin Business May Be Restructured Around a Banking Alliance] South Korean banks are closely monitoring Hong Kong's stablecoin regulatory cases, believing that strict regulatory frameworks provide valuable references for policy-making. During the National Assembly's state audit meeting, the South Korean Financial Services Commission and the Bank of Korea jointly stated that the issuer of a Korean won stablecoin should take the form of a banking industry-centered alliance. Kwon Dae-young, Vice Chairman of the Financial Services Commission, expressed agreement with this view, and the Bank of Korea emphasized its support for this principle in its report, considering the issuance of stablecoins through a banking alliance to be more appropriate.

[Shan Fu, Dean of Jun Gu Digital Technology Research Institute: Digital Economy Regulation Needs to Balance Short-term Stability and Long-term Development] At the 2025 Shanghai Blockchain International Week's 'Global Landscape of the Digital Economy' roundtable discussion, Shan Fu, Dean of Hainan Jun Gu Digital Technology Research Institute, stated that the regulation of digital assets and the crypto economy must strike a balance between short-term stability and long-term development. Short-term regulation can maintain market order and curb irregularities, while long-term policies should focus on promoting the sustainable development of the digital economy. Shan Fu pointed out that regulatory practices in Singapore and Hong Kong place greater emphasis on attracting compliant institutions and high-quality enterprises to build a sustainable ecosystem. He stressed that regulation should prioritize the prevention of fraud and false statements while supporting projects that promote the development of the real economy and innovative industries. Regarding the recent cooling of the stablecoin and real-world asset (RWA) craze, he believes this is a necessary adjustment for the long-term healthy development of the digital economy and predicts that the digital economy will become a key driver of global economic growth.

[Japan Plans to Ban Banks and Insurance Companies from Selling Virtual Currency, Securities Companies May Be Permitted to Operate] The Financial Services Agency of Japan plans to prohibit banks and insurance companies from directly selling virtual currencies but will allow securities companies to engage in related business. The agency believes that virtual currency prices are highly volatile and pose risks of cyberattacks. To protect the interests of depositors and insurance policyholders, it intends to strengthen regulations. Securities subsidiaries under banks or insurance companies may be permitted to sell virtual currencies, but they must improve risk management measures. The relevant legal amendments are expected to be submitted to the regular session of the National Diet next year.

[BlackRock: Ethereum Spot ETF Purchases 28,600 ETH] BlackRock's Ethereum Spot ETF purchased 28,600 ETH on October 22, with a total value of approximately $110.7 million. (Cointelegraph)