Financial AI operates outside of regulation; the UK's FCA plans to expand its jurisdiction over AI giants such as OpenAI and Anthropic.
Related
The UK's FCA has warned of an "arms race" in the regulation of financial AI and is seeking new powers to regulate models such as ChatGPT.
PANews reported on July 6 that, according to the Financial Times, the UK Financial Conduct Authority (FCA) has warned of an "arms race" in the regulation of artificial intelligence in the financial sector and urged that it be given new powers to regulate ChatGPT, Claude, and Gemini.
Spiral, Jack Dorsey's Bitcoin development arm, plans to expand into the AI field.
According to Foresight News , The Block reports that Spiral, Jack Dorsey's Bitcoin development arm, is expanding into the AI field after incorporating core developers from Block's Goose project. The open-source project plans to develop Goose into a platform for agent-based AI development.
Anthropic reportedly plans to expand in Manhattan, doubling its New York City staff to 1,000.
According to Odaily Odaily, Anthropic reportedly plans to expand in Manhattan, doubling its New York City workforce to 1,000; it plans to lease a 16-story building in Hudson Square. The company will begin relocating to New York City in the summer of 2026. (Cailian Press)
Analysis: The high compliance threshold of the UK FCA's crypto regulatory framework may be a key challenge to its implementation.
According to Odaily Odaily, the UK Financial Conduct Authority (FCA) officially released its regulatory framework for crypto assets this week. It is widely regarded by the industry as an international solution that emphasizes "global liquidity access," but its implementation still faces significant compliance and approval challenges. Under the new regulations, the FCA allows overseas exchanges to serve UK users through locally authorized branches and access global trading infrastructure, thus avoiding the formation of closed domestic liquidity pools. Simultaneously, stablecoins not issued in the UK can also circulate in the UK market, a stance considered significantly different from the regional segregation model of the EU's Crypto Asset Markets Regulation (MiCA). The "Qualified Crypto Asset Trading Platforms" (QCATP) mechanism in the new regulations is seen as a key structure connecting global exchanges with the UK market, potentially improving price efficiency and market depth. However, industry insiders point out that the FCA has not yet clarified which jurisdictions are deemed to have "comparable regulatory protection," and this uncertainty may affect companies' strategic deployment decisions. Furthermore, the rules related to decentralized finance (DeFi) are still not fully clear, and some practitioners are concerned that early solutions may restrict centralized platforms from accessing the DeFi ecosystem, causing the UK to lag behind other jurisdictions in this area of innovation. From a compliance perspective, lawyers point out that under the new Financial Services and Markets Act framework, the authorization process may be extremely stringent, with historical data showing that the FCA's anti-money laundering registration approval rate is less than 15%. The new system will also cover multi-dimensional regulatory requirements such as consumer responsibility, capital adequacy, operational resilience, and senior management accountability, significantly raising the entry threshold. Industry insiders believe that the framework provides a basic institutional foundation for institutional funds to enter the crypto market, but whether the UK can truly become a global crypto hub will depend on the certainty of regulatory enforcement and the efficiency of approvals in the coming months. (CoinDesk)
IMF: Tokenization may reshape financial settlement and stability, but fragmented regulation may bring new risks.
PANews reported on July 3rd, citing Cointelegraph, that Tobias Adrian, Financial Advisor and Director of the Monetary and Capital Markets Department at the International Monetary Fund (IMF), stated in a blog post that tokenization could fundamentally reshape how financial markets operate. By integrating assets, settlement, and accounting onto a shared ledger, it could compress settlement processes that previously took days into near-instantaneous completion. Adrian also warned that tokenization shifts risk from traditional financial intermediaries to the underlying infrastructure (including smart contracts, distributed ledgers, and service providers). Without unified standards and coordinated regulation, the tokenized financial market could become fragmented due to platform incompatibility, creating new systemic risks.
The White House plans to release new AI regulatory standards next week, retracting Trump's previous promise of "light regulation."
According to Beating's monitoring, the Trump administration's "light regulation" approach to AI is facing serious challenges. The Financial Times reports that the White House will release a set of voluntary standards for the release of cutting-edge AI models as early as next week. These standards aim to set benchmarks for models with top-tier cybersecurity capabilities and establish a release timeline to regulate future release processes. The Center for AI Standards and Innovation and the National Security Agency (NSA) will play key roles in standard setting and oversight. Last month, the Trump administration's direct intervention in two major AI labs triggered industry chaos and anger: Anthropic's latest model was subject to export controls on June 12 due to concerns about misuse and cybersecurity, and was only unbanned this Tuesday; OpenAI was required to release GPT-5.6 only to a government-selected population, with a wider release expected as early as next week; Google is also communicating with the government before releasing a new generation of coding models with stronger cybersecurity capabilities. Although Trump promised to ease regulations so that American companies could outperform their Chinese counterparts, the potential risks of new models exploiting security vulnerabilities and disrupting key industries are forcing the White House to accelerate the tightening of security measures.