Pineapple Financial puts $1B in mortgage records on Injective
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Financial AI operates outside of regulation; the UK's FCA plans to expand its jurisdiction over AI giants such as OpenAI and Anthropic.
According to Beating's monitoring, Sheldon Mills, Executive Director of the UK Financial Conduct Authority (FCA), warned that regulators are facing an "arms race" to keep pace with the rapid adoption of AI in the financial services industry as businesses and individuals accelerate their adoption. Mills' report on the financial impact of AI indicates that 20% of UK adults are already willing to let large models make their savings or borrowing decisions. While this service offers an experience equivalent to regulated traditional financial advice, its lack of regulatory oversight means users are unable to obtain any financial compensation when they suffer losses. The report recommends an urgent review of the risks of unregulated financial AI and an application for expanded legislative authorization to strengthen oversight of core technology providers such as Anthropic, OpenAI, Amazon, Google, and Microsoft through a "key third party" mechanism (the UK government has not yet finalized the specific list). It also recommends collaboration to launch free public financial literacy and decision-making guidance services assisted by AI.
Mirae Asset lays out crypto, stablecoin, tokenization plans
The South Korean financial group plans to build a $109 billion digital asset business spanning crypto, stablecoins and tokenized assets, according to The Korea Times.
Injective receives SEC transfer agent registration for institutional services arm
Injective’s affiliated entity can now maintain securities ownership records, adding regulated market infrastructure to its growing push into tokenized assets.
Xiling Information: Plans to jointly invest with Xinyun Data to establish a holding subsidiary and cooperate in the field of computing infrastructure operation.
According to Mars Finance, Xiling Information (300588.SZ) announced that it plans to jointly invest with Burqin County Xinyun Computing Technology Co., Ltd. to establish Xinjiang Xiling Xinyun Intelligent Computing Industry Development Co., Ltd., with a registered capital of 20 million yuan, of which Xiling will contribute 11 million yuan, holding 55% of the shares. The two parties have signed a "Cooperation Agreement" to cooperate in the field of computing infrastructure operation, including computing server leasing, computing service delivery, and the introduction of financial leasing. The joint venture aims to achieve a computing power consumption scale of no more than 256 high-performance servers and promote the construction of the AIToken platform. This agreement is a framework agreement, and specific cooperation matters are subject to uncertainty. (Cailian Press)
Base plans to officially activate the B20 token standard on mainnet on July 9th.
According to Foresight News , Base plans to officially activate the B20 token standard on mainnet at 2:00 AM Beijing time on July 9th. Base had previously scheduled the activation of the B20 token format for 2:00 AM on June 27th, but this was subsequently postponed due to stability concerns. B20 is Base's native token format, designed to improve user experience through a faster, lower-cost, and more standardized settlement mechanism, enabling global financial assets to exist on Base in the form of programmable capital and achieve on-chain composability.
The stock exchange between Dunamu and Naver Financial has been postponed again, now until December 31.
According to Foresight News and News1, Upbit's parent company Dunamu and Naver Financial's full share swap plan has been postponed again. The share swap date has been delayed from September 30th to December 31st, and the shareholders' meeting date has also been postponed from August 18th to November 19th, shifting the overall timeline by six months. This is the second time the two companies have adjusted their plans this year, having previously postponed the swap date from June 30th to September 30th. The postponement is due to the continued delays in the Korea Fair Trade Commission's (KFTC) review process for corporate mergers, and the incomplete review of major shareholder changes by financial regulators. The KFTC is currently focusing on assessing the impact on market competition after the merger of Naver Pay payment data and Upbit's cryptocurrency trading data. Dunamu stated that this delay will not affect the basic direction of the merger, and both parties will continue to cooperate with the review process.