Digital Identity Push (Philippines): The Bangko Sentral ng Pilipinas is drafting a rule that would require BSP-supervised banks and digital financial firms to link customer onboarding to the National ID system via the PSA’s NIDAS, rolling out in two phases starting with high-volume retail players. UPI Fees Move (India): India’s Lok Sabha approved a bill that would let banks and payment providers charge a merchant discount rate on UPI transactions above Rs 2,000, ending the current zero-MDR restriction and aiming to keep the digital payments ecosystem funded. Loan Recovery Rules (India): The RBI issued final conduct norms for banks’ loan recovery and recovery agents, including board-approved recovery policies, due diligence on agents, and bans on harassment and abusive collection practices, with rules effective from Jan. 1, 2027. Crypto Regulation & Custody (Cayman Islands): Blockchain.com received full VASP custody authorization from the Cayman Islands Monetary Authority, expanding regulated custody, staking, and fiat/crypto exchange services. Banking Risk & Compliance (UK-Russia Sanctions): The UK added new sanctions targeting Russian banks and shadow-fleet operators, aiming to choke off funding tied to the war economy. Market Watch (Gold): Gold hit a seven-week peak as Strait of Hormuz deal hopes and Fed-rate uncertainty supported prices.