World Economic Forum President Borge Brende has warned that massive investments in AI and cryptocurrencies may create financial bubbles. Speaking in Berlin, he noted that $500 billion has been invested in AI this year, raising concerns about speculative bubbles in AI and cryptocurrency.
Brende described frontier technologies as a ‘big paradigm shift’ that could drive global growth, with potential productivity gains of up to 10% over the next decade. He noted that breakthroughs in medicine, synthetic biology, space, and energy could transform economies, but stressed that the benefits must be widely shared.
Geopolitical uncertainty remains a significant concern, according to Brende. He pointed to rising tensions between the US and China, calling it a race for technological dominance that could shape global power.
He also urged multilateral cooperation to address global challenges, including pandemics, cybercrime, and investment uncertainty.
Despite the disorder in world politics, Brende highlighted the resilience of economies like those in the US, China, and India. He called for patient investment strategies and stronger international coordination to ensure that new technologies translate into sustainable prosperity.
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Dubai-based telecom operator du has launched a cryptocurrency mining service designed to promote digital finance adoption across the UAE. The initiative, named Cloud Miner, enables residents to mine cryptocurrency via subscription, eliminating the need for personal hardware or maintenance.
The service, operated by du Tech’s data centres, enables users to rent computational power and mine Bitcoin and other digital assets. Participants can bid online from November 3 to 9 for 24-month contracts that offer 250 terahashes per second.
Users will also gain access to a calculator to track monthly Bitcoin yields linked directly to their crypto wallets.
According to Jasim Al Awadi, du’s Chief ICT Officer, Cloud Miner represents the company’s first step in expanding into digital asset services. He added that as adoption grows, Du plans to explore adjacent sectors such as crypto exchanges and lending platforms.
The company also intends to increase the number of available contracts and hash rate in future phases.
The UAE continues to position itself as a leader in digital finance, introducing supportive regulations and encouraging blockchain innovation. Al Awadi emphasised that trusted, regulated entities like du play a key role in helping users confidently engage with the crypto ecosystem.
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Australia’s financial crime regulator, AUSTRAC, has fined crypto ATM operator Cryptolink $56,340 for failing to report large cash transactions on time. The regulator also ordered the company to improve its anti-money laundering (AML) and counterterrorism financing (CTF) controls.
AUSTRAC’s Crypto Taskforce identified weaknesses in Cryptolink’s risk assessments and reporting controls, raising concerns about the misuse of crypto ATMs by criminals.
According to AUSTRAC CEO Brendan Thomas, crypto ATMs remain one of the highest-risk channels for money laundering in Australia, often used to launder scam proceeds. He emphasised that operators must take stronger action to prevent criminal exploitation of the sector.
As part of the undertaking, Cryptolink must appoint independent reviewers to assess its compliance systems and validate all large cash transaction reports. Cryptolink must report its remedial progress to AUSTRAC by March 2026, having paid the fine without admitting liability.
Findings from AUSTRAC’s taskforce revealed that 85% of transactions made by the 90 most frequent ATM users were linked to scams or money mule schemes. Authorities will keep monitoring high-risk operators to improve oversight and protect consumers from crypto-related crimes.
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The 9th Global Conference on Criminal Finances and Cryptoassets was held in Vienna and co-organised by Europol, the UNODC and the Basel Institute on Governance. The event brought together over 250 participants and 1,000 online attendees to discuss how to strengthen the global response.
Delegates emphasised the need for unified standards, stronger cooperation and greater investment in training to tackle the evolving threats posed by crypto-enabled crime.
Speakers warned that blockchain misuse has expanded beyond scams to include terrorism financing, sanctions evasion and organised money laundering. Europol’s Burkhard Mühl said tackling these complex crimes needs greater innovation and collaboration.
Advanced tracing tools and successful cross-border operations demonstrate progress, yet significant legislative and capacity gaps remain.
Participants urged harmonised standards and quicker information sharing between financial institutions and virtual asset providers. The Wolfsberg Group noted that private sector collaboration is as vital as public partnerships in disrupting illicit crypto activity.
Building capacity through hands-on training and peer learning was also identified as a priority. According to Elizabeth Andersen of the Basel Institute, equipping agencies with the skills to trace and recover illicit assets can transform how nations respond to crypto-related crime.
Experts agreed that continued dialogue, shared expertise and consistent standards are key to ensuring innovation in blockchain benefits society rather than enabling criminal networks.
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France’s centre-right UDR party, led by Éric Ciotti, has introduced a groundbreaking proposal to create a national Bitcoin Strategic Reserve. The bill is France’s first major effort to integrate cryptocurrency and strengthen financial sovereignty through digital assets.
Under the plan, France would gradually acquire up to 2% of Bitcoin’s total supply- around 420,000 BTC- over seven to eight years. A new Public Administrative Establishment would oversee the reserve, mirroring the management of France’s gold and foreign currency holdings.
The proposal seeks to use surplus renewable and nuclear energy for Bitcoin mining to create economic value. The state would keep seized crypto and use national savings funds for daily Bitcoin purchases, potentially adding about 55,000 BTC yearly.
Beyond Bitcoin, the bill promotes euro-denominated stablecoins for everyday payments and rejects a European Central Bank-controlled digital euro, citing privacy concerns. It proposes tax exemptions for small transactions under €200 and allows certain taxes to be paid in Bitcoin or euro stablecoins.
Despite its ambition, the UDR’s limited representation in Parliament may slow progress on the proposal.
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Norway’s efforts to improve cryptocurrency tax compliance have led to a significant increase in declarations. More than 73,000 residents reported owning digital assets in their 2024 filings, a 30% rise compared with 2023, according to the Norwegian Tax Administration.
Officials attribute the growth to enforcement measures, educational campaigns, and improved digital reporting systems.
The total reported value of these holdings exceeded US$4 billion, with gains of around US$550 million and losses near US$290 million. Tax director Nina Schanke Funnemark said higher participation reflects the success of recent initiatives and increased taxpayer awareness.
From January 2026, Norwegian crypto service providers, including exchanges and custodians, must share client transaction data under a new third-party reporting regime. The measure aims to close oversight gaps and ensure transparency across the sector.
The 2024 declaration figures contrast sharply with 2019, when only 6,470 individuals reported crypto ownership.
Norway’s sovereign wealth fund holds indirect crypto exposure through investments in companies such as Coinbase, Metaplanet, and Strategy, representing roughly 7,161 Bitcoin. Other countries are boosting crypto oversight, with the UK’s HMRC sending around 65,000 warning letters to suspected non-compliers.
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The FCA has lifted the ban on retail access to certain crypto exchange trade notes (cETNs), effective 8 October. UK consumers can now invest in cETNs listed on the Official List and traded on a Recognised Investment Exchange.
Firms offering cETNs must meet strict requirements. Products are categorised as Restricted Mass Market Investments (RMMIs), meaning financial promotions cannot include incentives, and firms must carry out appropriateness assessments, client categorisation, and risk disclosures.
Compliance with the Consumer Duty is also required, including acting in good faith, avoiding foreseeable harm, and ensuring products meet the needs of the target market.
The FCA emphasises that cETNs are complex products, and firms should have the correct permissions to offer them. Those seeking authorisation or new permissions can request pre-application support meetings.
The regulator is also advancing its crypto roadmap to integrate crypto assets more fully into its regulatory framework, with ongoing consultations on applying Handbook rules to crypto activities.
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IBM has introduced Digital Asset Haven, a unified platform designed for banks, corporations, and governments to securely manage and scale their digital asset operations. The platform manages the full asset lifecycle from custody to settlement while maintaining compliance.
Built with Dfns, the platform combines IBM’s security framework with Dfns’ custody technology. The Dfns platform supports 15 million wallets for 250 clients, providing multi-party authorisation, policy governance, and access to over 40 blockchains.
IBM Digital Asset Haven includes tools for identity verification, crime prevention, yield generation, and developer-friendly APIs for extra services. Security features include Multi-Party Computation, HSM-based signing, and quantum-safe cryptography to ensure compliance and resilience.
According to IBM’s Tom McPherson, the platform gives clients ‘the opportunity to enter and expand into the digital asset space backed by IBM’s level of security and reliability.’ Dfns CEO Clarisse Hagège said the partnership builds infrastructure to scale digital assets from pilots to global use.
IBM plans to roll out Digital Asset Haven via SaaS and hybrid models in late 2025, with on-premises deployment expected in 2026.
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Citi and Coinbase have announced a strategic partnership to enhance digital asset payment capabilities for institutional clients. The collaboration will begin by streamlining fiat transactions and strengthening links between traditional banking and digital assets via Coinbase’s on/off-ramps.
Both firms plan to introduce further initiatives in the coming months aimed at simplifying global access to crypto payments.
According to Citi’s Head of Payments, Debopama Sen, the partnership supports Citi’s goal of creating a ‘network of networks’ that enables borderless payments. Operating across 94 markets and 300 networks, Citi sees the move as progress towards integrating blockchain into mainstream finance.
Coinbase’s Brian Foster said the partnership merges Citi’s payments expertise with Coinbase’s digital asset leadership. Together, they aim to build next-generation infrastructure enabling seamless, round-the-clock access to crypto services for institutional clients.
The partnership builds on Citi’s ongoing investment in digital finance, including its Citi Token Services and 24/7 USD Clearing system. By aligning with Coinbase, the bank reinforces its commitment to innovation and positions itself at the forefront of the evolving digital money landscape.
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Blockchain.com received a MiCA license from Malta’s Financial Services Authority, enabling passported crypto services across all 30 EEA countries under one EU framework. Leaders called it a step toward safer, consistent access.
Malta becomes the hub for scaling operations, citing regulatory clarity and cross-border support. Under the authorisation, teams will expand secure custody and wallets, enterprise treasury tools, and localised products for the EU consumers.
A unified license streamlines go-to-market and accelerates launches in priority jurisdictions. Institutions gain clearer expectations on safeguarding, disclosures, and governance, while retail users benefit from standardised protections and stronger redress.
Fiorentina D’Amore will lead the EU strategy with deep fintech experience. Plans include phased rollouts, supervisor engagement, and controls aligned to MiCA’s conduct and prudential requirements across key markets.
Since 2011, Blockchain.com says it has processed over one trillion dollars and serves more than 90 million wallets. Expansion under MiCA adds scalable infrastructure, robust custody, and clearer disclosures for users and institutions.
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