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Finance

Financial sector hacking spreads, delays gain support for digital asset tax postponement

A string of hacking incidents in South Korea’s financial sector has led to confirmed personal data leaks at savings banks and mutual finance groups, prompting authorities to step up inspections and security requirements. Banks are moving to raise cybersecurity spending and expand fraud prevention systems using AI. Market volatility and a steep stock selloff also drew a policy response. Political debate intensified over postponing digital asset taxation and regulating exchange shareholders.

Finance

Lagarde says euro zone economy solid, digital euro nears

The European Central Bank is continuing preparations for a retail digital euro, Cointelegraph reported on Oct. 17. ECB President Christine Lagarde said in a speech at the International Monetary Fund annual meeting that a digital euro would further spur innovation and competition in retail payments. She said it is meant as digital cash for daily payments, not a replacement for banknotes. Lagarde also described inflation and the ECB’s gradual policy response.

Crypto

Sweden\'s Riksbank urges legal prep for digital krona amid spread of dollar-pegged stablecoins

Sweden\'s central bank, the Riksbank, has urged parliament to begin legislative preparations for a possible digital krona. It is re-examining the need for a central bank digital currency, citing the European Central Bank’s push for a digital euro and the spread of foreign currency-pegged stablecoins. The bank warned that without a digital version of the krona, Sweden’s payment system could lose competitiveness and krona use could weaken.