Belgium’s influencers seek clarity through a new certification scheme

The booming influencer economy of Belgium is colliding with an advertising rulebook that many creators say belongs to another era.

Different obligations across federal, regional and local authorities mean that wording acceptable in one region may trigger a reprimand in another. Some influencers have even faced large fines for administrative breaches such as failing to publish business details on their profiles.

In response, the Influencer Marketing Alliance in Belgium has launched a certification scheme designed to help creators navigate the legal maze instead of risking unintentional violations.

Influencers complete an online course on advertising and consumer law and must pass a final exam before being listed in a public registry monitored by the Jury for Ethical Practices.

Major brands, including L’Oréal and Coca-Cola, already prefer to collaborate with certified creators to ensure compliance and credibility.

Not everyone is convinced.

Some Belgian influencers argue that certification adds more bureaucracy at a time when they already struggle to understand overlapping rules. Others see value as a structured reminder that content creators remain legally responsible for commercial communication shared with followers.

The alliance is also pushing lawmakers to involve influencers more closely when drafting future rules, including taxation and safeguards for child creators.

Consumer groups such as BEUC support clearer definitions and obligations under the forthcoming EU Digital Fairness Act, arguing that influencer advertising should follow the same standards as other media instead of remaining in a grey zone.

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Russia advances digital ruble strategy ahead of 2026 launch

The Bank of Russia has reiterated its confidence in the long-term potential of the digital ruble, describing the project as one of the most advanced central bank digital currency initiatives globally.

According to the regulator, preparations for a large-scale rollout remain on track for 2026, with internal estimates suggesting the digital ruble could represent up to 5% of all cashless payments within seven years of launch.

Central bank officials highlighted smart contracts as a primary area of application, alongside budgetary payments and cross-border transaction mechanisms, where efficiency and transparency gains are expected.

The regulator added that global payment trends are being closely monitored. Officials stressed the importance of defining a clear role for each financial instrument rather than introducing technology without a specific economic purpose.

Bank of Russia officials also emphasised ongoing collaboration with market participants to identify new opportunities for the digital ruble and maximise its practical impact.

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New rules set for digital yuan in 2026

China’s central bank has confirmed that a revised digital yuan framework will enter force on 1 January 2026, redefining the e-CNY as a form of digital deposit money rather than a cash substitute.

The upgraded framework adds new standards and rules, based on a decade of domestic and cross-border pilot programmes. Usage already spans retail payments, public services, healthcare, education, tourism, and international settlements.

Under the new plan, digital yuan balances held in commercial bank wallets will be classified as bank deposit liabilities. Banks must pay interest on these holdings, which will be insured and included in regular asset-liability management.

Digital yuan operations will also be folded into China’s reserve requirement system. Wallet balances at authorised banks will count towards reserve calculations, while non-bank payment institutions must hold full reserves against the digital yuan they administer.

By late November 2025, cumulative transactions had reached 3.48 billion, with a total value of 16.7 trillion yuan.

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China’s AI sector accelerates after breakthrough year

China’s AI industry entered 2025 as a perceived follower but ended the year transformed. Rapid technical progress and commercial milestones reshaped global perceptions of Chinese innovation.

The surprise release of DeepSeek R1 demonstrated strong reasoning performance at unusually low training costs. Open access challenged assumptions about chip dominance and boosted adoption across emerging markets.

State backing and private capital followed quickly, lifting the AI’s sector valuations and supporting embodied intelligence projects. Leading model developers prepared IPO filings, signalling confidence in long term growth.

Chinese firms increasingly prioritised practical deployment, multilingual capability, and service integration. Global expansion now stresses cultural adaptation rather than raw technical benchmarks alone.

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Bitcoin adoption remains uneven across US states

A recent SmartAsset study based on IRS tax return data highlights sharp regional differences in Bitcoin participation across the US. Crypto engagement is concentrated in certain states, driven by income, tech adoption, and local economic culture.

Washington leads the rankings, with 2.43 per cent of taxpayers reporting crypto transactions, followed by Utah, California, Colorado and New Jersey. These states have strong tech sectors, higher incomes, and populations familiar with digital financial tools.

New Jersey’s position also shows that crypto interest extends beyond traditional tech hubs in the West. At the opposite end, states such as West Virginia, Mississippi, Kentucky, Louisiana and Alabama record participation close to or below one per cent.

Lower household incomes, smaller tech industries and a preference for conventional financial products appear to limit reported crypto activity, although some low-level holdings may not surface in tax data.

The data also reflects crypto’s sensitivity to market cycles. Participation surged during the 2021 bull run before declining sharply in 2022 as prices fell.

Higher-income households remain far more active than middle-income earners, reinforcing the view that Bitcoin adoption in the US is still largely speculative and unevenly distributed.

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Sberbank issues Russia’s first crypto-backed loan

Sberbank has issued Russia’s first crypto-backed loan, providing financing to Intelion Data, one of the country’s largest Bitcoin miners. The bank did not disclose the loan size or the cryptocurrency used as collateral but described the move as a pilot project.

The loan leveraged Sberbank’s own cryptocurrency custody solution, Rutoken, ensuring the digital assets’ safety throughout the loan period. The bank plans to offer similar loans and collaborate with the Central Bank on regulatory frameworks.

Intelion Data welcomed the deal, calling it a milestone for Russia’s crypto mining sector and a potential model for scaling similar financing across the industry. The company is expanding with a mining centre near the Kalinin Nuclear Power Plant and a gas power station.

Sberbank has also been testing decentralised finance tools and supports gradual legalisation of cryptocurrencies in Russia. VTB and other banks are preparing to support crypto transactions, while the Central Bank may allow limited retail trading.

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SK Telecom introduces South Korea’s first hyperscale AI model

The telecommunications firm, SK Telecom, is preparing to unveil A.X K1, Korea’s first hyperscale language model built with 519 billion parameters.

Around 33 billion parameters are activated during inference, so the AI model can keep strong performance instead of demanding excessive computing power. The project is part of a national initiative involving universities and industry partners.

The company expects A.X K1 to outperform smaller systems in complex reasoning, mathematics and multilingual understanding, while also supporting code generation and autonomous AI agents.

At such a scale, the model can operate as a teacher system that transfers knowledge to smaller, domain-specific tools that might directly improve daily services and industrial processes.

Unlike many global models trained mainly in English, A.X K1 has been trained in Korean from the outset so it naturally understands local language, culture and context.

SK Telecom plans to deploy the model through its AI service Adot, which already has more than 10 million subscribers, allowing access via calls, messages, the web and mobile apps.

The company foresees applications in workplace productivity, manufacturing optimisation, gaming dialogue, robotics and semiconductor performance testing.

Research will continue so the model can support the wider AI ecosystem of South Korea, and SK Telecom plans to open-source A.X K1 along with an API to help local developers create new AI agents.

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Trust Wallet urges update after $7 million hack

Trust Wallet has urged users to update its Google Chrome extension after a security breach affecting version 2.68 resulted in the theft of roughly $7 million. The company confirmed it will refund all impacted users and advised downloading version 2.69 immediately.

Mobile users and other browser extension versions were unaffected.

Blockchain security firms revealed that malicious code in version 2.68 harvested wallet mnemonic phrases, sending decrypted credentials to an attacker‑controlled server.

Around $3 million in Bitcoin, $431 in Solana, and more than $3 million in Ethereum were stolen and moved through centralised exchanges and cross‑chain bridges for laundering. Hundreds of users were affected.

Analysts suggest the incident may involve an insider or a nation-state actor, exploiting leaked Chrome Web Store API keys.

Trust Wallet has launched a support process for victims and warned against impersonation scams. CEO Eowyn Chen said the malicious extension bypassed the standard release checks and that investigation and remediation are ongoing.

The incident highlights ongoing security risks for browser-based cryptocurrency wallets and the importance of user vigilance, including avoiding unofficial links and never sharing recovery phrases.

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IMF calls for stronger AI regulation in global securities markets

Regulators worldwide are being urged to adopt stronger oversight frameworks for AI in capital markets after an IMF technical note warned that rapid AI adoption could reshape securities trading while increasing systemic risk.

AI brings major efficiency gains in asset management and high-frequency trading instead of slower, human-led processes, yet opacity, market volatility, cyber threats and model concentration remain significant concerns.

The IMF warns that AI could create powerful data oligopolies where only a few firms can train the strongest models, while autonomous trading agents may unintentionally collude by widening spreads without explicit coordination.

Retail investors also face rising exposure to AI washing, where financial firms exaggerate or misrepresent AI capability, making transparency, accountability and human-in-the-loop review essential safeguards.

Supervisory authorities are encouraged to scale their own AI capacity through SupTech tools for automated surveillance and social-media sentiment monitoring.

The note highlights India as a key case study, given the dominance of algorithmic trading and SEBI’s early reporting requirements for AI and machine learning. The IMF also points to the National Stock Exchange’s use of AI in fraud detection as an emerging-market model for resilient monitoring infrastructure.

The report underlines the need for regulators to prepare for AI-driven market shocks, strengthen governance obligations on regulated entities and build specialist teams capable of understanding model risk instead of reacting only after misconduct or misinformation harms investors.

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