South Korea and 14 other countries have launched a joint response to structural overcapacity, which has emerged as a global trade issue. The Ministry of Trade, Industry and Energy said the countries issued a joint ministerial statement on Oct. 7 in Paris at the OECD headquarters. The statement defined structural overcapacity as a major challenge and set criteria for identifying it, without naming any country. The group will form a consultative body covering five sectors and begin cooperation talks in Paris.

U.S. regulators are moving ahead with crypto oversight after the Clarity Act stalled in the Senate, issuing a joint SEC-CFTC interpretation on six tokens and approving listings of 3-times leveraged ETFs. Bitcoin recovered to around $86,000 on a weekly close, while XRP drew attention ahead of Evernode’s Nasdaq debut. In South Korea, the government plans tighter monitoring of cross-border digital-asset transfers, and financial firms are accelerating partnerships ahead of a tokenised securities regime due in February.