Odaily News: KuCoin Nigeria Limited has received Approval in Principle (AIP) from the Nigeria Securities and Exchange Commission (SEC Nigeria), granting it admission to the Accelerated Regulatory Incubation Program (ARIP). This approval does not constitute final registration, a license, or endorsement, nor does it authorize the company to commence operations, onboard customers, list digital assets, offer trading or P2P services, process fiat on/off-ramps, or custody customer assets; the company will not launch related business activities until all pre-commencement conditions are met and further written permission is obtained from SEC Nigeria.

Odaily News: AMC CEO Adam Aron has once again posted on X, stating that Robinhood claims to support the SEC's new rules regarding U.S. stock tokenization, and demanding that Robinhood clarify whether its international business will follow the same principles set forth by the SEC. He stated that if Robinhood's offshore business in Jersey does not comply with the relevant principles, it would constitute a distortion and mockery of the correct practices required by the SEC. In the original post, he repeatedly exclaimed "shame, shame, shame," expressing his contempt for Robinhood's refusal to respond directly to the relevant questions.

Odaily News: StoneX has raised the price target for digital asset tokenization platform Securitize (SECZ) by 50% to $18 and maintained its buy rating. StoneX stated that Securitize has evolved from a tokenization service provider into a "market operator," but the market still views it as a mere tokenization vendor, not yet fully reflecting its business transformation. SECZ fell more than 6% intraday to $12.96, with its market cap dropping to $2.105 billion.

Odaily News: Initiatives by the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC) may drive the expansion of regulated on-chain trading and boost institutional participation.Legal experts say the regulatory framework is expected to advance gradually, but gaps remain that will need to be addressed by the U.S. Congress. Crypto industry executives believe that the failure of the Clarity Act to pass will create opportunities for decentralized finance (DeFi), but established exchanges may continue to maintain a competitive advantage. (CoinDesk)

Odaily News: Franklin Templeton met with the U.S. Securities and Exchange Commission (SEC) Crypto Task Force on October 9 to discuss the direct exchange mechanism for tokenized fund shares and tokenized US stocks on blockchain trading platforms.The discussions focused on whether investors can directly redeem these assets, whether liquidity providers can charge service fees, and the applicability of pricing rules under the Investment Company Act. In addition, the two sides discussed the feasibility of trading pairs consisting of tokenized ETFs and tokenized stocks, compliant payment stablecoins or tokenized money market funds, as well as whether the related liquidity pools require regulatory exemptions for investment companies.

Odaily News — Global investment management firm Franklin Templeton is exploring regulatory exemptions to allow tokenized money market funds and ETFs to trade through blockchain-based trading venues. On October 9, the company met with staff of the U.S. Securities and Exchange Commission (SEC) Crypto Task Force regarding legal issues including pricing, fees, and asset pools.The agenda included whether investors can exchange blockchain fund shares for tokenized National Market System (NMS) stocks through blockchain trading venues, and whether liquidity providers can charge service fees. The related issues involve pricing rules under the Investment Company Act and whether exemptions are needed.Regarding tokenized ETFs, Franklin Templeton also discussed pairing them with tokenized stocks, approved payment stablecoins, or tokenized money market funds, as well as whether liquidity pools need to obtain Investment Company regulatory exemptions. Its preliminary disclosure on September 30 listed assets under management at $1.79 trillion.Franklin Templeton's blockchain fund recordkeeping business began with the Franklin Onchain U.S. Government Money Fund launched in 2021. The BENJI token represents shares of the fund, and transferring tokens simultaneously transfers the corresponding shares, with transactions recorded and share ownership tracked by the Benji Technology Platform. (Bitcoin.com News)

Odaily News: Ripple-backed XRP treasury company Evernorth has completed its business combination with SPAC company Armada Acquisition Corp. II, bringing approximately 473 million XRP and $300 million in total cash proceeds into the public market. The company is expected to begin trading on Nasdaq under the ticker XRPN starting next Monday. According to an 8-K filing submitted by Evernorth to the U.S. SEC, the merger was completed on October 9 Eastern Time.

Odaily News: According to documents disclosed by the U.S. SEC, Robinhood CEO Vladimir Tenev sold 375,000 shares of HOOD stock on October 5 at an average price of $113.72 per share, with a total transaction value of approximately $42.6435 million. After the sale, his direct holdings decreased to 6,907 shares.On the same day, Robinhood General Counsel Daniel Martin Jr sold 10,000 shares of HOOD stock at an average price of $113.71 per share, with a total transaction value of approximately $1.1371 million. After the sale, his direct holdings decreased to 499,943 shares. The two collectively sold approximately $43.7806 million worth of stock.

Odaily report: The Securities and Exchange Commission (SEC) of Thailand has completed the drafting of relevant rules to allow cryptocurrency exchange-traded funds (ETFs) to be listed and traded on the Stock Exchange of Thailand, initially limited to Bitcoin and Ethereum. The rules will take effect on October 16, 2026.Initially, products such as depositary receipts linked to overseas cryptocurrency ETFs will not be permitted, and Thai brokerages will still not be allowed to assist retail investors in investing in overseas cryptocurrency ETFs. Institutional investors and ultra-high-net-worth individuals are not subject to this restriction. Mutual funds and private funds may invest in cryptocurrency ETFs established in Thailand.The relevant ETFs must adopt a passive investment approach, tracking the prices of the underlying crypto assets, and must maintain an average net exposure to any single cryptocurrency of at least 80% of net asset value during each fiscal year. Brokerages may not provide margin financing, and fund assets must be custodied by digital asset custodians regulated by the SEC. (Cointelegraph)

Odaily News: French Hill, Chairman of the U.S. House Financial Services Committee, said he hopes to push for the approval of the CLARITY Act during Congress's lame-duck session after next month's midterm elections. He believes that permanent legislation is needed to ensure the United States maintains its lead in digital assets and blockchain technology.French Hill previously pushed for the FIT21 Act, and stated that the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC) are defining digital assets and digital commodities under existing regulatory authority, but such policies are still insufficient to replace a legislative solution.Last month, the CLARITY Act failed to secure the required votes in the Senate's vote to end debate, with a tally of 49 in favor and 50 against.Analysts pointed out that agency regulatory rules are more easily modified or revoked by a new administration, making it difficult to provide the certainty that congressional legislation can offer. Law firm Troutman Pepper Locke said that future administrations could adjust rule interpretations and enforcement priorities. (Bitcoin.com News)