The UK government has designated Microsoft, Google, Amazon, and Oracle as "critical third parties" to oversee their cloud services, enhancing financial system stability. The regulation, effective July 13, targets major cloud providers due to increasing financial sector reliance on their services.
BNB Chain announced a new layer-1 blockchain designed for high-frequency AI crypto trading, aiming for over 100,000 transactions per second. The network, set to launch by early 2027, will also explore quantum-resistant security.
Global personal wealth and stock market capitalization saw significant growth in 2025, with the number of billionaires increasing by nearly 13.1%. However, this rise is largely driven by asset appreciation at the top of the wealth pyramid, suggesting increasing wealth concentration.
The UK's Financial Conduct Authority (FCA) has released a report detailing a significant shift towards automated retail financial services driven by agentic AI. The report highlights the need for programmable infrastructure and addresses governance risks.
The Bank of England warns that autonomous AI agents capable of making financial decisions and executing transactions independently could soon operate across the financial system, potentially necessitating new regulatory frameworks and safeguards against herd behavior and market volatility.
RBI's latest Financial Stability Report identifies AI-enabled cyberattacks as India's top near-term financial system risk, with banks and NBFCs most concerned. Preparedness is uneven, despite increased investment, highlighting the need for stronger employee awareness and forensic capabilities.
BIS warns shadow banking's lack of oversight may lead to rapid financial downturn due to interconnected vulnerabilities, citing potential for faster correction than previous banking crises.
South Korea's financial system is stable, but rising housing prices and leveraged investments pose risks of financial imbalances, according to the Bank of Korea. The central bank noted increased household credit growth and foreign capital outflows, warning of potential defaults and stock market volatility.
India's Vivek Aggarwal elected Vice President of the FATF, a global watchdog against money laundering and terrorist financing. The appointment is seen as a major win, highlighting India's growing role in international efforts to combat illicit financial networks.
La presidente della BCE, Christine Lagarde, ha avvertito sui rischi dell'IA per il sistema finanziario, citando attacchi cyber e vulnerabilità strategiche dell'Europa. Ha chiesto un'azione europea per creare un quadro normativo prima che sia troppo tardi.
China plans to bolster legal defenses against unilateral sanctions by incorporating blocking and countermeasure provisions into financial legislation, according to Vice-Premier He Lifeng. He stated China will not compromise against "groundless suppression" and warned against unilateralism and protectionism.
Fincantieri CEO Pierroberto Folgiero stated that the Italian financial system, through export credit, is essential for the company's growth and future. He highlighted the geopolitical significance of shipbuilding, referencing the US Shipbuilding Act under Trump, and emphasized the link between civil and military shipbuilding.
A research consortium warns that autonomous AI agents with crypto wallet access could become unstoppable, posing severe threats to users and the financial system if deployed maliciously or escaping controls.
A scarce supply of COBOL developers, the language underpinning global finance, is leading to fortunes for young programmers and retirees. Banks struggle to replace the 65-year-old system, which handles trillions daily, facing a crisis as original engineers retire.
The UK sanctioned 18 entities and individuals, including crypto exchange HTX and a stablecoin issuer, for allegedly helping Russia bypass Western financial restrictions via the A7 network. This marks the first time the UK applied its Russia sanctions regime to crypto exchanges, treating them as financial infrastructure.
Trump's executive order aims to tighten fraud screening and limit credit for undocumented immigrants, drawing parallels to alleged "Operation Chokepoint 2.0" under Biden and raising concerns about pushing individuals into unregulated financial systems or organized crime.
Tether, the issuer of USDT, now holds over $141 billion in US Treasuries, making it a top buyer of US debt. New legislation aims to regulate stablecoins, integrating them into the financial system but raising concerns about bank deposit drains and systemic risk.
Russia's President Putin blamed Ukraine for a deadly drone attack in Luhansk, vowing retaliation. Ukraine denied the claims, stating it targeted Russian military assets. Meanwhile, Czech President Pavel urged NATO to respond assertively to Russian provocations.
Czech President Petr Pavel urged NATO to "show its teeth" with decisive, potentially asymmetric responses to Russia's provocations, including cutting off banks, switching off the internet, and shooting down violating aircraft. He stressed the need for a firm stance against Moscow's actions below the Article 5 threshold.
US company Anthropic will brief international banking supervisors on the financial system risks posed by its new AI model 'Mythos'. The AI can uncover IT system vulnerabilities, prompting a meeting organized by Bank of England Governor Andrew Bailey.
Russian Foreign Minister Sergey Lavrov stated that it's unacceptable for the G7 to dictate policies for the World Bank and IMF, given BRICS' larger economic share. He called for IMF quota reform and greater Global South representation.
Moody's reports US banks anticipate a gradual start followed by rapid acceleration in the transition to a digitized financial system through tokenization, with broad asset tokenization seen as inevitable but timing uncertain.
Crypto.com secures a Stored Value Facilities (SVF) license from the UAE Central Bank, becoming the first crypto platform to offer regulated digital asset payment services, including for government fees, bolstering Dubai's cashless economy goals.
The Treasury Department wants US banks and other financial institutions to monitor for suspected Iranian money-laundering networks that use their funds to smuggle sanctioned oil through shell companies and cryptocurrency networks. The move, which effectively deputises the global financial system to help disrupt Iran’s sanctions-evasion infrastructure, comes as the US and Iran reached another impasse over how to end their war while their ceasefire has grown increasingly shaky. US President Donald...
