PANews reported on October 26th that, according to China News Network, the "State Council Report on Financial Work" was submitted to the Standing Committee of the 14th National People's Congress for deliberation on the 26th. The report noted that the operating and regulatory indicators of China's financial institutions remained within a reasonable range. The financial regulatory system has been further improved. High-level financial opening-up has been expanded in an orderly manner. International financial cooperation has continued to deepen, and the ability to safeguard national financial security has been continuously enhanced. Regarding the next steps of work, the report proposes six aspects: implementing a moderately loose monetary policy in detail to create a suitable monetary and financial environment to consolidate and expand the positive momentum of economic recovery; further strengthening and improving financial supervision, and continuously enhancing the quality and effectiveness of supervision; highlighting the key directions of financial services for the real economy, and focusing on providing high-quality financial services; continuously deepening the structural reform of the financial supply side; promoting high-level two-way opening of finance to safeguard national financial security; preventing and resolving financial risks in key areas, and maintaining the bottom line of no systemic financial risks. Among them, focusing on promoting high-level two-way opening of finance, the report said that the internationalization of the RMB should be promoted steadily, prudently and orderly, and the international currency functions of the RMB such as pricing, payment, investment and financing, and reserves should be comprehensively enhanced.PANews reported on October 26th that, according to China News Network, the "State Council Report on Financial Work" was submitted to the Standing Committee of the 14th National People's Congress for deliberation on the 26th. The report noted that the operating and regulatory indicators of China's financial institutions remained within a reasonable range. The financial regulatory system has been further improved. High-level financial opening-up has been expanded in an orderly manner. International financial cooperation has continued to deepen, and the ability to safeguard national financial security has been continuously enhanced. Regarding the next steps of work, the report proposes six aspects: implementing a moderately loose monetary policy in detail to create a suitable monetary and financial environment to consolidate and expand the positive momentum of economic recovery; further strengthening and improving financial supervision, and continuously enhancing the quality and effectiveness of supervision; highlighting the key directions of financial services for the real economy, and focusing on providing high-quality financial services; continuously deepening the structural reform of the financial supply side; promoting high-level two-way opening of finance to safeguard national financial security; preventing and resolving financial risks in key areas, and maintaining the bottom line of no systemic financial risks. Among them, focusing on promoting high-level two-way opening of finance, the report said that the internationalization of the RMB should be promoted steadily, prudently and orderly, and the international currency functions of the RMB such as pricing, payment, investment and financing, and reserves should be comprehensively enhanced.

                                                                               BitGo’s move creates further competition in a burgeoning European crypto market that is expected to generate $26 billion revenue this year, according to one estimate.                     BitGo, a digital asset infrastructure company with more than $100 billion in assets under custody, has received an extension of its license from Germany’s Federal Financial Supervisory Authority (BaFin), enabling it to offer crypto services to European investors. The company said its local subsidiary, BitGo Europe, can now provide custody, staking, transfer, and trading services. Institutional clients will also have access to an over-the-counter (OTC) trading desk and multiple liquidity venues.The extension builds on BitGo’s previous Markets-in-Crypto-Assets (MiCA) license, also issued by BaFIN, and adds trading to the existing custody, transfer and staking services. BitGo acquired its initial MiCA license in May 2025, which allowed it to offer certain services to traditional institutions and crypto native companies in the European Union.Read more