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Jinse Finance reported that the Financial Services Agency of Japan is advancing a regulatory proposal for financial products, intending to prohibit banks and insurance companies from selling virtual currencies, while allowing securities firms and similar institutions to conduct virtual currency sales. Previously, the Financial Services Agency of Japan had already regarded virtual currencies as investment targets and has been exploring regulatory measures under the Financial Instruments and Exchange Act. The agency believes that virtual currency prices are highly volatile and there is a risk of asset leakage due to cyberattacks, thus it is necessary to protect the interests of depositors and insurance policyholders. However, given that internet securities firms and other institutions are already engaged in virtual currency sales, from the perspective of fair competition, the Financial Services Agency of Japan has preliminarily decided to allow securities subsidiaries under banks or insurance companies to sell virtual currencies. The report also pointed out that "it is expected that only after risk management measures are fully established will the Financial Services Agency of Japan possibly approve banks or insurance companies to hold and operate virtual currencies." The Financial Services Agency of Japan plans to submit relevant legal amendments at next year's regular session of the National Diet.

According to ChainCatcher, monitored by HyperInsight, in the past three hours, the whale address starting with 0x3fc, after closing its BTC long position, switched to opening a new BTC short position at an average price of $108,300, with a notional position value reaching $80.28 million. It is currently experiencing a floating loss of over 20%, with the current liquidation price at $109,700. In addition, this address had previously chased long positions in BTC and SOL during the market pullback at 4 a.m. today, and closed those positions three hours ago. Over the past week, the cumulative loss for this address has reached $3.64 million.