Banks Have Minutes, Not Weeks, to Fix Flaws as AI Speeds Up Attacks: BIS
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Polygon discloses security flaws fixed in recent hard forks
The vulnerabilities posed denial-of-service and validator resource risks but were patched before Polygon publicly disclosed them.
Opinion: Warsh's concise style makes the Fed's June meeting minutes even more important.
PANews reported on July 5th that, according to Jinshi, George Gonsalves, head of US macro strategy at Mitsubishi UFJ Securities Americas, stated that Warsh's concise style makes the June meeting minutes more significant than usual, providing a valuable perspective on the differing positions among Federal Reserve officials. "The minutes will become even more important because until now, we didn't know what the Fed was thinking. Seeing how they debated and what they focused on will be very enlightening," Gonsalves added. He further noted that some investors have questioned Warsh's "hands-off" approach, with many hoping for a return to greater transparency. Many market participants are unaccustomed to reduced information and remain quite skeptical about how long the Fed can maintain this stance. Now, we can only try to decipher the implied meaning between the lines.
The Reserve Bank of India reiterated its support for a "curb-prone ban" strategy on crypto assets, recommending that banks refrain from holding or trading crypto assets.
According to Mars Finance, on July 3, the Reserve Bank of India (RBI), in a document submitted to the Parliament's Standing Committee on Finance, reiterated its support for a "containment-oriented and prohibition-oriented" regulatory strategy for crypto assets, arguing that "prohibition" remains one of the policy options recognized by international regulatory frameworks. The RBI recommends that banks and other regulated financial institutions refrain from holding, trading, or providing exposure to crypto assets and privately issued stablecoins to avoid potential contagion risks to the financial system. The RBI stated that imposing traditional financial regulations on crypto assets could mislead the market, grant "legitimacy" to speculative assets lacking real economic value, and create a false sense of security for users. The RBI also warned that the large-scale adoption of stablecoins could weaken India's monetary sovereignty, weaken the transmission mechanism of monetary policy, fragment the payment system, and pose risks to financial stability. Therefore, it recommends prioritizing the development of sovereign digital payment infrastructure such as central bank digital currencies (CBDCs). Furthermore, the RBI questioned the ranking of India as having the highest crypto adoption rate globally, arguing that data based on private blockchain analytics firms has methodological flaws. The RBI pointed out that India currently has 54 FIU-registered crypto service providers, and approximately 39.3 million KYC-verified users holding crypto assets worth approximately 20.437 billion rupees. It stressed the need for a clear distinction between speculative crypto assets and the tokenization of real-world assets (RWAs) such as government bonds and corporate bonds to avoid hindering innovation in financial asset tokenization.
ZODL founder and Zcash developers will hold a meeting in the coming weeks with the goal of "breaking down all barriers."
According to Foresight News , Josh Swihart, founder and CEO of the Zcash Open Development Lab (ZODL), tweeted that Zcash developers will hold a meeting in the coming weeks with the core goal of "Breach all gates." Meanwhile, the ZODL team released its weekly report, with key updates including the release of Zodl Mobile version 3.7.0 (enhancing network resilience, completing large-scale security hardening for Android, fixing multiple transaction status and sending bugs, and integrating the Maya DEX aggregator via Swapkit); and the release of Zallet version 0.1.0-alpha.4 (adding a Zebra state backend, several new RPC methods, and built-in encrypted identity commands).
The energy shock is not over; several investment banks warn that oil prices may return to above $90 in the third quarter.
According to Mars Finance, on June 15th, while the global energy market briefly stabilized as signs of easing tensions emerged in the US-Iran conflict, several investment banks and institutions warned that the lingering effects of the energy shock are not yet over, and geopolitical risk premiums may persist for a considerable period. Daniel Hynes, senior commodities strategist at ANZ, stated that the reopening of the Strait of Hormuz still faces real obstacles such as mine risks and ship delays, and a full recovery of shipping to pre-war levels may take weeks or even months. He pointed out that the crude oil market will struggle to quickly fill the gap before the supply chain fully normalizes. Westpac believes that significant global inventory depletion during the Strait's closure will further exacerbate market tensions due to subsequent restocking pressures. Bart Melek, head of commodities strategy at TD Securities, predicts that even if shipping immediately returns to normal, the global crude oil market may still face an inventory gap of approximately 800 million barrels by November, noting that current oil prices are insufficient to balance future supply and demand. He also predicted that oil prices are highly likely to rebound to above $90 in the third quarter, potentially triggering a chain reaction of inflation. Willem Sels, Chief Investment Officer of HSBC Private Bank, stated that this energy shock has already spilled over into vulnerable parts of the global economy, particularly in South Asia, where high oil prices may continue to put pressure on the recovery of fragile economies. Analysts generally believe that although the conflict is easing, the risks associated with the Strait of Hormuz and the uncertainty surrounding supply recovery will keep the international crude oil market highly volatile and subject to high risk premiums.
Coinbase, Moov to provide stablecoin infrastructure for US community banks
The partnership will provide stablecoin acceptance, settlement and real-time funding capabilities to over 1,000 community banks and credit unions.