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Hong Kong has passed a law under the OECD standard: starting in 2027, crypto platforms will begin collecting data on clients and their transactions, and from 2028 the city will begin transmitting this data to the tax authorities of other countries. The announcement was released on November 4, 2026.
Bitcoin gained about 1% to ~$78,600 in Monday morning hours and is closing its third straight day of gains - even as a week ago Binance disclosed a $6.3B theft, the largest in crypto exchange history.
In October, China's economy slowed again: the manufacturing, services and composite business activity indices dropped into contraction territory. The composite indicator plunged from 50.7 to 49.3 - the worst combination in recent months.
From October 19 to 23, spot Bitcoin ETFs in the US (exchange-traded funds through which Bitcoin is bought like an ordinary stock) attracted $304.73 million, although $635.49 million was withdrawn from them on Wednesday alone. Ethereum funds closed the week with an outflow of $220.6 million.
On Thursday, October 22, Asian markets crashed: China's CSI 300 index lost 2% during the session and fell 20% from its June high. A 20% drop from the peak is the formal definition of a bear market.
WTI recovered intraday from the morning decline from around $88.00 and rose to nearly $91.50. The main driver was China's temporary suspension of oil product exports during the national holidays.
