Binance to plan UK relaunch with FCA license application: Report
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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.
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.
Binance will support a planned upgrade to its stock trading service on July 11.
PANews reported on July 8th that, according to an official announcement, Binance stock trading will be temporarily unavailable due to a planned system upgrade by a partner broker. Users will be unable to submit stock trading orders during the upgrade period. The system upgrade will take place from 18:50 to 23:30 on July 11, 2026 (UTC+8).
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.
Binance: The effectiveness of MiCA is measured by the number of crypto companies included in the regulatory system.
Odaily reports that Binance withdrew its MiCA license application in Greece due to approval delays and regulatory uncertainty, and was forced to suspend some services and new registrations for EU users a few days before the July 1st deadline. Gillian Lynch, Binance's head of Europe, stated that the success of MiCA should be measured by how many crypto companies are brought under the regulatory framework, and defended Binance's financial crime control measures, refuting allegations in a recent Wall Street Journal report. Lynch stated that removing Binance from MiCA would harm the European crypto market by removing key liquidity and infrastructure, and Binance remains committed to obtaining a new license and remaining in Europe. (CoinDesk)
Harmony plans rollback, wiping 109,000 transactions after ONE exploit
Harmony said selectively restoring transactions could create inconsistent chain state, as Ravencoin faces a separate rollback dispute after an exploit.