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Finance

Financial sector audit clashes over hacking, ETFs as digital asset rules near final stage

South Korea’s parliamentary audit of the Financial Services Commission focused on a string of hacking incidents, single-stock leveraged ETFs and the effectiveness of property loan curbs. Lawmakers raised concerns over inconsistent inspection periods and limited log reviews, while calls grew to ease network separation rules to counter AI-driven threats. Regulators also discussed stablecoin legislation, cross-border tracking of digital asset transfers and preparations for tokenised securities rules, alongside broader fintech and banking industry developments.

Crypto

Zcash seeks to cut block time to 25 seconds, rolls out NU7 testnet

Zcash has applied its next upgrade, NU7, to its testnet. The upgrade aims to cut block creation time on the mainnet to 25 seconds from 75 seconds while reducing per-block issuance to keep total daily issuance unchanged. Zcash is targeting around Nov. 5 for mainnet deployment and plans to decide on final implementation after reflecting testnet results on Oct. 20. NU7 also changes fee handling and drops support for older transaction formats and the Sprout pool.