standards

According to Xinhua News Agency, Xin Guobin, Vice Minister of the Ministry of Industry and Information Technology, stated on August 26 at the "Starting Point of the 14th Five-Year Plan" series of themed press conferences held by the State Council Information Office that, in terms of application, artificial intelligence in our country has basically penetrated the entire chain of research and development design, production manufacturing, quality inspection, and operation and maintenance.Xin Guobin mentioned that nearly 200 artificial intelligence-related standards have been successfully developed, and multiple cities are being organized to carry out ethical reviews and service practices related to artificial intelligence.

The Monaco government submitted Bill No. 1131 to the National Council, intending to replace Law No. 1.528 passed in 2022, and to align the regulatory framework for crypto assets more closely with the EU's Markets in Crypto-Assets Regulation (MiCA) and the Financial Action Task Force (FATF) standards.The proposed regulation will clarify the crypto asset services that can be conducted in Monaco and enhance corporate governance, prudential safeguards, and professional conduct requirements. Service providers must obtain prior approval from the Commission de Contrôle des Activités Financières (CCAF), and the relevant licenses must also be jointly reviewed by the Autorité Monégasque de Sécurité Financière and the Agence Monégasque de Sécurité Numérique. The bill also expands the supervisory and enforcement powers of the CCAF. If approved by the National Council, Monaco will further develop supporting implementation rules; Monaco has been placed on the FATF grey list starting in the summer of 2024 and has been included in the European Commission's list of high-risk countries for money laundering.

According to ChianCatcher news, GSR Content Director Frank Chaparro tweeted that Nasdaq is hiring a RWA Principal Protocol Engineer, who will serve as the primary technical author for the "Nasdaq Token Design Standard."This standard is the authoritative specification for the on-chain representation of publicly traded stocks. Responsibilities include issuance, compliance, corporate actions, chain selection, and institutional trading infrastructure. The base salary ranges from $155,000 to $287,000, plus bonuses and equity.

According to the Financial Times, as Chinese companies continue to narrow the gap with the top AI labs in the United States, ByteDance is training an AI model that may be close in scale to Anthropic's advanced Mythos system. According to three insiders, this Chinese tech giant is currently in the early stages of training a large-scale model, which may have a parameter count reaching the trillions, approximately three times that of the largest model released in China, the Kimi K3 model under the Moonlight brand.One insider stated that ByteDance's model is currently undergoing pre-training, a phase that typically takes three to six months. If all goes well, it will then undergo fine-tuning and be released. The specific scale of the model will be determined later. Anthropic has not publicly disclosed the parameter scale of its models, but industry estimates suggest that its advanced Mythos 5 model has a parameter count of about 8 trillion, while Fable 5 has around 5 trillion.It is important to note that the number of parameters determines the model's basic capacity for storing information or memory limit, but the actual capabilities of the model also depend on other factors, including data quality and training methods.

The U.S. Department of the Treasury issued a joint statement outlining the discussions from the U.S.-UK Financial Regulatory Working Group meeting held on July 8 in London. The regulatory agencies from both sides expanded their collaboration in areas such as digital assets, stablecoins, payment modernization, AI, financial stability, capital markets, and cross-border financial cooperation. Participants included the finance departments of both countries, the Bank of England, the Federal Reserve, the UK's Financial Conduct Authority, and several U.S. financial regulatory agencies.The U.S. side introduced the implementation progress of the stablecoin GENIUS Act and the market structure for digital assets, while the UK side presented the digital strategy for wholesale financial markets. Both sides support comparable regulatory standards for stablecoins, including cross-border use, comparable treatment of similar risks, and that stablecoins used as currency should be backed by high-quality liquid assets at least on a one-to-one basis. The Federal Deposit Insurance Corporation has proposed implementation standards for the GENIUS Act, covering reserves, redemption, capital, liquidity, risk management, custody, and safekeeping.The Bank of England has released a draft rule for stablecoins that could achieve systemic scale in the UK economy, including a temporary issuance cap of £40 billion for each systemic stablecoin, unrestricted use by individuals and businesses, and reserve requirements. The Financial Regulatory Working Group is expected to hold another meeting in early 2027.

The South Korean cryptocurrency exchange Bithumb has published an update on its IPO preparation progress. Bithumb stated that it is collaborating with leading domestic accounting firms to advance the construction of its risk management system, converting accounting standards from K-GAAP to internationally accepted K-IFRS, and strengthening internal compliance and internal control processes. The company is also restructuring its business by spinning off Bithumb Asset and clarifying the responsibilities and boundaries of each business segment; at the same time, it is promoting business model diversification and liquidity asset reserves to enhance financial stability.Bithumb claims it will maintain transparent operations by regularly disclosing financial status, operational matters, and cryptocurrency asset holdings, and will collaborate with large domestic and international securities firms, law firms, and accounting firms to assess corporate value and legal risks, as well as to formulate strategies for the pre-listing review.Regarding the timeline, Bithumb plans to complete the upgrade of its internal control system and K-IFRS conversion preparations by 2026, submit the pre-listing review and undergo audits in 2027, and complete the IPO in 2028, with specific timelines potentially adjusted based on market conditions and regulatory review progress.

According to CCTV News, the international standard led by China, "Technical Framework and Functional Requirements for Blockchain as a Service in Blockchain and Distributed Ledger Technology," has recently been successfully initiated by the International Organization for Standardization. Countries such as Germany, the United Kingdom, Ireland, Japan, Portugal, and Uganda will send representatives to participate in the formulation.This standard will clarify three aspects of technical requirements: in terms of infrastructure and network, it will standardize the construction and operation and maintenance of underlying resources and blockchain networks. In terms of service management and smart contracts, it will unify the platform service catalog and the contract lifecycle management process. In terms of data interaction and security protection, it will clarify on-chain data access, privacy protection, and security compliance mechanisms.

According to the latest report released by the Financial Action Task Force (FATF), FATF conducted the seventh special assessment of the implementation of Recommendation 15 (R.15) across global jurisdictions. The report indicates that since the last update in 2025, countries have continued to advance in the regulation of virtual assets (VA) and virtual asset service providers (VASP), including conducting risk assessments, improving licensing and registration frameworks, implementing travel rules, and strengthening law enforcement actions.However, the report also points out that significant gaps still exist, mainly reflected in: the difficulty in effectively translating risk assessment results into mitigation measures, insufficient implementation of licensing and registration frameworks, challenges in identifying VASP activity subjects, and inadequate effectiveness of risk-based supervision and law enforcement. In terms of emerging risks, the report focuses on the following areas: the exacerbation of the "industrialization" trend of organized crime groups using virtual assets to commit fraud, the rising risk of stablecoin abuse, risks associated with non-custodial wallet peer-to-peer (P2P) transactions, offshore VASPs operating outside of regulation, and ongoing challenges in the DeFi sector. FATF calls for the public and private sectors to jointly strengthen the implementation of R.15, enhance risk mitigation capabilities, and deepen domestic, international, and public-private cooperation mechanisms.

On the first anniversary of the signing of the GENIUS Act, the prospects of Tether USDT in the U.S. market face uncertainty. The act has a three-year compliance grace period, with about two years remaining, after which non-compliant stablecoins will not be able to trade on U.S. crypto platforms.According to Tether's latest disclosure, about 25% of USDT reserves are still allocated to assets such as precious metals, loans, and Bitcoin, which do not meet the requirements of the GENIUS Act. The act requires issuers to fully back their stablecoins with high liquidity assets such as cash and U.S. Treasury bonds. Tether CEO Ardoino promised compliance last year, and the company has launched the USAT stablecoin for the U.S. market through Anchorage Digital this year, but usage remains low.There is a divergence in the legal community regarding the compliance timeline for foreign issuers. Some lawyers believe that foreign issuers must immediately comply with freezing and seizure orders when the act takes effect (expected next January), but they have about two years to meet the remaining requirements. The policy director of Anchorage Digital stated that institutional users will transition to compliant stablecoins before the 2028 deadline. Currently, federal regulators have not finalized the implementation details of the GENIUS Act, and companies have no specific regulations to follow. Tether has not responded to CoinDesk's request for comments on compliance progress.

The Linux Foundation, in collaboration with Visa, Mastercard, and 40 other institutions, has launched the x402 payment standard. In the past 30 days, approximately 75 million stablecoin transactions have been processed, totaling 24 million USD.

According to reports, Google DeepMind co-founder Demis Hassabis recently predicted that artificial general intelligence (AGI) could be achieved in just a few years, with its transformative impact reaching ten times that of the Industrial Revolution, and its development speed accelerating tenfold. He pointed out that as the potential risks of cutting-edge models in areas such as cybersecurity, nuclear energy, and biology become increasingly prominent, the industry urgently needs to establish robust security protections for future AI systems that possess autonomy and self-improvement capabilities.To balance technological innovation and security risks, Hassabis called for the United States to take the lead in establishing a "Frontier AI Standards Agency" similar to the Financial Industry Regulatory Authority (FINRA). This agency is proposed to operate under a public-private partnership or self-regulatory organization model, managed by independent technical experts and representatives from the open-source community, primarily funded through industry contributions. Its core function is to develop dynamic scientific assessment protocols, initially requiring frontier laboratories to voluntarily submit for review 30 days prior to the release of models, with plans to eventually transition to mandatory market entry testing, while non-frontier models from startups or academic institutions would be exempt. This framework aims to address unknown crises through a technology-driven review mechanism and to promote a global consensus on AI risk management within the international community.

According to the Financial Times, the U.S. government is in discussions with several AI companies and plans to introduce voluntary industry standards for the release of cutting-edge AI models as early as next week, to prevent advanced technologies from being misused by other countries. The standards will clearly define regulations regarding model performance benchmarks, release timelines, and domestic and international access permissions.Affected by recent tightening of regulatory policies, several leading AI companies have adjusted their operations. OpenAI has postponed the full release of GPT-5.6 at the government's request, allowing access only to a few partners that have passed qualification reviews; two top models from Anthropic have just had their export restrictions lifted after nearly three weeks; Google is also in close communication with the government while preparing a new generation of code models. Additionally, the report mentions that both OpenAI and Anthropic, which are currently under regulatory scrutiny, are actively preparing for their initial public offerings (IPOs).

The Shanghai Stock Exchange officially released the "Guidelines for the Application of the Shanghai Stock Exchange Issuance and Listing Review Rules No. 10 - Applicable to AI Large Model Enterprises under the Fifth Set of Listing Standards for the Sci-Tech Innovation Board," aimed at leveraging the role of the capital market to support the development of AI large model enterprises in China that are in a critical period of large-scale commercialization.The "Guidelines" combine the actual situation of technological innovation in the field of AI large models and clarify the specific requirements for applying the Fifth Set of Listing Standards for the Sci-Tech Innovation Board:Definition of Main Business: The issuer's main business must be clearly defined as "independent research and development of AI large models, model services, or model applications," while simultaneously supporting both general large models and industry-specific models.Requirements for Stage Achievements: When applying, enterprises must meet the condition of "at least one large model product has been launched and achieved large-scale application" as a standard to verify the feasibility of their product business model and commercialization capability.The Shanghai Stock Exchange stated that the next step will be to actively and steadily promote the issuance and listing of AI large model enterprises that meet this standard on the Sci-Tech Innovation Board under the guidance of the China Securities Regulatory Commission, to provide greater support for the development of technology-based enterprises that break through key core technologies.

The Hong Kong Securities and Futures Commission (SFC) issued a circular outlining the monitoring measures that should be implemented when opening accounts and maintaining client relationships. This circular was issued after the SFC reviewed the account opening practices of 12 securities brokerage firms.The review identified several significant deficiencies, including insufficient due diligence on account opening documents, acceptance of suspicious or forged documents during the account opening process, and weaknesses in managing cross-border agency relationships with overseas intermediaries. The SFC expressed deep concern about the potential misuse of client accounts for suspicious or illegal transactions, which could exacerbate the risks of money laundering and terrorist financing.The SFC requires all licensed corporations to conduct internal checks as soon as practicable to detect whether any suspicious or forged documents have been accepted for account opening. The SFC also outlined additional measures for licensed corporations when opening and managing accounts for mainland investors.These additional measures include closing investment accounts opened with suspicious or forged documents, closing zero-balance dormant investment accounts, and requiring a written declaration from investors when opening new investment accounts, stipulating that settlements and fund withdrawals can only be conducted through bank accounts held in the investor's own name at qualified banks.

The UK Parliament's Standards Commissioner is investigating UK MP and leader of the Reform Party, Nigel Farage, due to allegations of failing to declare a £5 million (approximately $6.7 million) personal donation from Tether investor Christopher Harborne. Christopher Harborne holds a 12% stake in Tether. Nigel Farage stated that the donation was received in 2024 before he announced his candidacy, intended for personal security, and therefore he had no obligation to declare it. According to the House of Commons Code of Conduct, new MPs must register any benefits received in the previous 12 months after being elected. If found in violation, Nigel Farage could face penalties such as an apology, suspension, or expulsion from Parliament.

According to CoinDesk, Aave Labs will rewrite the asset listing and collateral risk control rules. In addition to the existing price and volatility assessments, new reviews will be added for compatibility, network security, and underlying architecture, and minimum standard guidelines will be published for asset issuers.This move stems from the KelpDAO cross-chain bridge attack in April, where hackers minted approximately $293 million worth of unbacked rsETH and borrowed real wETH on Aave as collateral, resulting in hundreds of millions of dollars in bad debt for the protocol. Aave will also shift from a single pool perspective to studying systemic connections between different DeFi protocols to reduce cross-protocol risks and is calling on other DeFi projects to follow similar standards.

According to official news, the Depository Trust & Clearing Corporation (DTCC) in the United States has announced the establishment of an industry working group to advance the tokenization process of the U.S. capital markets. Ondo has been selected for this working group and will collaborate with institutions from both traditional finance and decentralized finance, including BlackRock, Goldman Sachs, JPMorgan Chase, Franklin Templeton, Morgan Stanley, Bank of America, Citadel Securities, the New York Stock Exchange, Circle, Fireblocks, and Robinhood in the design process.DTCC holds assets exceeding $114 trillion, with an annual clearing total of $3.7 trillion. It is currently building a tokenization service aimed at bringing the core processes of the U.S. capital markets on-chain. DTCC President and CEO Frank La Salla stated, "We believe that tokenization will significantly change the way markets operate, bringing new levels of liquidity, transparency, and efficiency to investors."

According to BeInCrypto, Mastercard has joined the Blockchain Security Standards Committee (BSSC) as a charter-level member, collaborating with members such as Coinbase, Fireblocks, Anchorage Digital, and BitGo to develop a security framework for blockchain networks and tokenized assets.Mastercard will also join a working group focused on security and privacy guidelines, with Claire Le Gal from the security solutions department, responsible for fraud prevention, cyber resilience, disputes, and threat intelligence, representing Mastercard on the BSSC board. The executive director of BSSC stated that Mastercard's payment experience is of significant value in establishing robust blockchain security rules. Mastercard has launched multi-token networks and crypto credential products aimed at embedding trust in blockchain and tokenized infrastructure.