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Malaysia, Thailand join Singapore\'s Bloom digital currency initiative

Malaysia and Thailand have joined Singapore’s Bloom digital currency initiative, The Defiant reported on Thursday. The report said Visa, Mastercard and the World Bank Group are also included among participating organisations. The expansion focuses on tasks related to a cross-border settlement framework and interoperability. With the participant base widening, Bloom is strengthening its character as a multilateral cooperation effort beyond Singapore. Specific roles and digital currency details were not included.

Crypto

France delays vote on stablecoin tax measure, eyes Nov. 3

France has postponed a vote on a budget measure covering stablecoin taxation to Nov. 3. The provision would end, from January 2027, the deferral of tax on gains generated when cryptocurrencies are exchanged for single-currency stablecoins. The issue is whether converting to a stablecoin should trigger taxation. The proposal is part of budget deliberations and still requires further parliamentary votes, with possible adjustments to scope and timing.

Crypto

Ethereum ETFs see $320 million outflows, outpacing bitcoin ETFs

Ethereum spot exchange-traded funds recorded $320 million of net outflows last week, surpassing the amount withdrawn from bitcoin spot ETFs. The Defiant reported that net outflows across five groups of crypto ETFs tracked by Farside totalled $610.7 million from Oct. 12 to Oct. 16. Although weekly outflows declined for both assets, bitcoin’s drop was larger, pushing Ethereum’s weekly net outflows above bitcoin’s. Neither asset returned to weekly net inflows.