State Council has approved the "Work Plan for Supporting the Construction of the Comprehensive Demonstration Zone for Deepening the National Service Industry and Expanding Opening-up in Beijing". The plan states that support will be given to exploring the application of digital RMB in public services such as tax and fee collection in Beijing, and supporting Beijing in strengthening cooperation and exchanges with members of the Digital Economy Partnership Agreement (DEPA) in areas such as digital identity, digital inclusiveness, network security, financial technology, and logistics.

On November 23rd, the UK's digital asset industry received a boost as announced in the Chancellor's Autumn Statement outlining 110 measures for national economic growth. This includes a government initiative aimed at promoting the expansion of the digital asset industry. The UK government will legislate the Digital Securities Sandbox (DSS) to promote the adoption of digital assets in financial markets. The budget statement states: "The government will introduce a legislative framework to establish a DSS and plans to implement a financial market infrastructure sandbox by 2023."

Digital identity verification company Magic ID announced the completion of a €350,000 pre-seed round of financing, with participation from SFC Capital, Presto Ventures, and a group of angel investors. Magic ID's decentralized identity infrastructure can help simplify the KYC (Know Your Customer) process for enterprises, and is compliant with the EU's General Data Protection Regulation (GDPR) regulatory requirements. The new funds will be used to expand the team and increase research and development.

According to a report by Fineqia International Inc., the Assets Under Management (AUM) of global Exchange Traded Products (ETPs) based on digital assets have grown by 91% YTD, reaching a peak of $38 billion. This growth surpasses the 30% increase in the value of the underlying digital assets​​.

Digital asset custodian Hex Trust has obtained a full operational license from the Dubai Virtual Asset Regulatory Authority (VARA). This operational license is VARA's final approval of the regulatory system for cryptocurrency service providers, which came into effect earlier this year. In February of this year, Hex Trust obtained the minimum viable product (MVP) operational license approved by the regulatory agency. Completing the final step of the licensing process allows it to continue to provide cryptocurrency custody services to institutional clients and qualified investors in Dubai. (CoinDesk)

On November 14th, digital asset custodian Hex Trust will provide custody services for STASIS EURO Euro stablecoin EURS.

According to the CoinShares weekly report on November 13th, the total inflow of funds for digital asset investment products last week was $293 million, and the inflow of funds from the beginning of the year to now was $1.14 billion. Bitcoin ETP trading volume accounted for 19.5% of the total Bitcoin trading volume on credible exchanges, indicating that ETP investors participated more in this rise compared to 2020 and 2021.

According to James Butterfill, research director at CoinShares, the inflow of funds into digital asset investment products has exceeded $1.07 billion so far this year. Of this, Bitcoin inflows exceeded $1.03 billion, accounting for 96% of the total inflows. (CoinDesk)

Policy makers of the G7 (Group of Seven) have agreed to collectively search for warning signals that may reduce competition in the digital market and have released a statement this week. "Against this backdrop, G7 competition authorities and policy makers are scanning markets for early warning signs of conduct or market factors that may make markets tip towards harm to competition or lessen competition, and identifying key technologies and issues that may give rise to competition concerns in the future." The statement said, "Digital markets may bring competition issues." Markets characterized by network effects, economies of scale, digital ecosystems, and massive data accumulation are prone to creating barriers to entry, overturning, and dominance.

The Commodity Futures Trading Commission (CFTC) has reported a record number of cases in the digital asset space, with 47 actions involving conduct related to digital asset commodities resulting in over $4.3 billion in penalties, restitution and disgorgement. The CFTC has cemented its reputation as a premier enforcement agency in the crypto space, according to its statement. The regulator has pursued some of the biggest actions in the space, including charges against collapsed digital asset exchange FTX, Binance and bankrupt crypto lender, and has also settled charges against a number of decentralized finance (DeFi) protocols.