### Jefferies Strategist Halves Bitcoin Allocation Due to Quantum Risk
Christopher Wood, global head of equity strategy at Jefferies, has reportedly reduced the hypothetical allocation to Bitcoin in his long-term diversified portfolio from 10% to 5%. The decision is rooted in growing apprehension regarding the potential threat posed by quantum computing to current cryptographic security standards utilized by decentralized networks. While Wood previously stated his belief that the quantum threat was likely years away, he has chosen to reduce exposure proactively, noting that the risk profile has shifted. This reduction saw a concurrent increase in the allocation dedicated to physical gold.
### Google Play Blocks Overseas Crypto Exchanges in South Korea
Google Play has initiated action against overseas cryptocurrency exchanges, removing or blocking updates for apps serving South Korean users. This move is a direct consequence of the aggressive regulatory push by South Korea’s Financial Services Commission (FSC). The FSC mandates that all foreign Virtual Asset Service Providers (VASPs) must register locally and comply with stringent anti-money laundering (AML) protocols. Since major international exchanges largely failed to comply with the September 2021 registration deadline, mobile platforms are now enforcing the regulatory blackout, restricting access to exchanges like Binance and FTX for domestic Android users.
### Ethereum Merge Update Confirmed
In other news, the Ethereum Foundation has provided a finalized roadmap and timeline concerning the ‘Merge,’ the network’s transition from a Proof-of-Work (PoW) consensus mechanism to Proof-of-Stake (PoS). Core developers confirmed that testing schedules are on track, signaling increased confidence that the highly anticipated network overhaul will occur in the near future, marking a significant milestone for the ecosystem and potentially improving its energy efficiency.
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