News linked to this event type.
Odaily Odaily News: OpenAI Codex Product Lead Tibo announced that usage limits have been reset for all ChatGPT Work and Codex users.Tibo stated that recent user feedback indicated GPT-5.6 Sol was consuming Codex limits faster than anticipated. Following an investigation, OpenAI has implemented several optimizations. It is projected that under typical usage scenarios, Sol's limit endurance will improve by approximately 18%, with some users seeing more noticeable improvements starting today.He explained that Sol tends to work for longer periods, make additional tool calls, and coordinate complex processes, while High mode consumes more tokens compared to previous models. Additionally, factors such as parallel tool calls in code mode and increased cached input have also led to higher-than-expected usage for certain tasks.OpenAI stated that Sol represents a significant upgrade to Codex's capabilities, but increased model capabilities do not always translate into efficiency gains. The company will continue to optimize code mode efficiency and restore the five-hour limit that was suspended during the investigation.
1,178 employees from leading AI companies have jointly released a statement titled "Pacing the Frontier," urging the U.S. government to support international cooperation in developing technologies and governance tools to proactively regulate the pace of frontier AI development.The statement says that global leading AI companies believe the future may be approaching the point where automated AI research becomes achievable. Although it is impossible to predict exactly how this will accelerate AI progress, there is a risk that AI capabilities could rapidly surpass human understanding and control.The signatories stated that the industry, governments, and society need to retain the option to "buy time" to address emerging risks, improve safety measures, and strengthen regulation. However, due to competitive pressures faced by both companies and nations, the world currently lacks governance mechanisms capable of proactively controlling the pace of frontier AI development.The statement notes that frontier AI agents are already capable of discovering and exploiting real software vulnerabilities, and could be used for large-scale cyberattacks in the absence of safety measures.Employees from multiple organizations including OpenAI, Anthropic, Google, and Meta have signed the statement, and believe there is a need to establish international coordination mechanisms to reduce potential risks while advancing AI development.
: The Financial Services Commission (FSC) of South Korea plans to draft a unified "Basic Digital Assets Act" together with the ruling Democratic Party. The content will cover stablecoin issuance and circulation, digital asset business rules, exchange listing requirements, information disclosure, internal controls, and system resilience standards. Currently, there are 10 pending bills related to digital assets and stablecoins in the South Korean National Assembly. The FSC has yet to decide on the timing and method for submitting the unified bill. Major points of disagreement include whether banks should hold a majority stake in issuers of Korean won-pegged stablecoins, and whether major crypto exchanges should be subject to ownership restrictions. The National Assembly's Planning and Finance Committee plans to deliberate on a proposed amendment to the Income Tax Act put forward by the opposition party, which aims to abolish the crypto income tax before its implementation on January 1, 2027. Under the current arrangement, income exceeding 2.5 million Korean won from the transfer or lending of crypto assets each year is subject to a 20% tax plus a 2% local income tax.
Emirates Airlines has officially offered cryptocurrency payment options via Crypto.com Pay. Users can complete payments on the official website and within the app, with transactions settled in UAE dirhams and complying with UAE regulatory requirements. This initiative aims to enhance payment method options and align with the cashless strategy goals under the Dubai D33 Economic Agenda. Crypto.com is responsible for converting the relevant crypto payments into regulated AED stablecoins or fiat currency before settling them to Emirates Airlines.
U.S. Senators Ruben Gallego and Thom Tillis are finalizing a bipartisan ethics counterproposal regarding the CLARITY Act, with plans to submit it to the White House within days. (Cointelegraph)
BlackRock、Fidelity 等华尔街机构公开支持《Clarity Act》加密监管法案，但 JPMorgan 与 Coinbase 在稳定币条款上存在分歧，参议院休会前立法时间紧迫。
分析师表示美联储任何略微鸽派的政策信号都可能推动比特币继续跑赢，当前比特币 7 月上涨约 6% 且与股市相关性减弱。
According to Cointelegraph, 10 European financial institutions have jointly launched the blockchain cooperative Regulated Layer One (RL1), which has commenced operations in Luxembourg as a European cooperative society. The network targets regulated financial markets, focusing on supporting institutional-grade applications such as digital currencies, tokenized bonds, collateral, and on-chain settlement.
Odaily Planet Daily: Ten European financial institutions have jointly launched Regulated Layer One (RL1), a network established as a European Cooperative in Luxembourg that has commenced operations, targeting regulated financial markets and tokenized assets. RL1 founding members include ABN AMRO, Cecabank, Chartered Investment, Crédit Mutuel Alliance Fédérale, DekaBank, DZ BANK, LBBW, Natixis CIB, SC Ventures, and Seturion. RL1 stated that each member holds equal decision-making power over the network's governance and development. This permissioned private network is built on infrastructure developed by German fintech company Secure Worldwide Interbank Asset Transfer (SWIAT), which has transferred ownership of the network to the cooperative. SWIAT stated that during its three-year production phase, the platform processed over 50 transactions with a total value exceeding €700 million. RL1's intended use cases include digital currencies, tokenized bonds, collateral, and blockchain-based settlement. RL1 will be led by former SWIAT Managing Director Henning Vollbehr. KfW and L-Bank will continue to support the initiative, and RL1 is in discussions with additional institutions such as NatWest regarding joining the network.
Cash Cat has announced the launch of its meme coin launchpad, letscash.fun. The project team stated that the platform originated from the community's demand for a fair launch mechanism following the listing of Robinhood Crypto, and was driven by community development.Cash Cat indicated that the platform operates in two modes: In Creator Mode, 70% of tokens go to the creator and 30% to the protocol; in Self-Destruct Mode, similarly, 70% is used to buy and burn tokens. The 30% obtained by the protocol will be used to burn cash-cat:native, increase treasury funds, and support development.The platform is powered by Uniswap v4, employing a permissionless, decentralized mechanism that is immutable after deployment. It is currently undergoing its final security review by Hyacinth Audits and SB Security.
Odaily News: Eric Richmond, the new CEO of Coinbase Canada, stated that the exchange aims to provide Canadian users with the same advanced crypto products available in the U.S. market, including derivatives, DeFi services, and tokenized assets. Eric Richmond noted that Canada needs to transition from case-by-case exemptions to a dedicated and coordinated national digital asset regulatory framework to support more complex products. Canada was an early adopter of spot crypto ETFs and has already passed the "Stablecoin Act." He pointed out that, compared to the United States, Canada’s regulatory guidance is progressing more slowly and is more fragmented, which is delaying Canadian retail investors' access to higher-yield lending, broader futures trading, and similar products.
Odaily News: The Thai Securities and Exchange Commission (SEC) has filed a criminal complaint against cryptocurrency exchange Bitkub Online and two former directors, Sakolkorn Sakavee and Thaweesap Rawan, accusing them of submitting false financial reports between May and October 2021. The case has been referred to the Thai Economic Crime Suppression Division (ECD) for investigation, and prosecutors will determine whether to formally indict. The SEC stated that Bitkub suffered a cyberattack in May 2021, resulting in the theft of 16 types of digital assets, with losses exceeding $50 million. Regulatory investigations revealed that Bitkub failed to reflect the related losses in its Form DA 1 daily net capital reports from May 10 to October 30, 2021. The SEC alleges that the involved executives made false entries in the company's official documents, leading regulators to believe that client assets were intact and the company had not suffered financial losses. Bitkub subsequently completed the acquisition of replacement assets in late October 2021, but the SEC maintains that the reports during that period constituted false statements. In a statement on July 23, Bitkub stated that current customer holdings were secure and accounts were complete. Bitkub claimed that its co-founders purchased replacement assets of the same type and quantity, bearing the losses themselves, and noted that the cyber theft incident had been reported to law enforcement authorities on May 10, 2021.
: Paul Atkins, Chairman of the U.S. Securities and Exchange Commission (SEC), stated that he is optimistic about Congress passing the CLARITY Act. The SEC is assisting Congress in advancing the bill, including answering questions and providing technical assistance. The CLARITY Act aims to establish a clearer regulatory framework for digital assets in the U.S. crypto market. The bill has passed the House of Representatives and is currently under consideration in the Senate. Atkins stated that legislation is the way to ensure relevant rules have long-term applicability. If Congress fails to complete the legislation, the SEC is prepared to formulate rules addressing the market structure issues covered by the CLARITY Act and other crypto market matters.
Fox Business crypto journalist posted on X that former NCUA Chairman Rodney Hood stated last week that credit unions play an important role in modernizing the financial system. A few days later, AmericasCUs, along with credit union leagues in all 50 U.S. states, supported the vast majority of the Clarity Act. However, they echoed the banking industry's concerns regarding the bill's stablecoin yield provisions, urging senators to strengthen the language. These groups believe that the current Tillis-Alsobrooks compromise could still allow for "functionally passive" reward structures, potentially causing deposits to flow out of local credit unions.
Odaily News Emirates has launched Crypto.com Pay on its website and mobile application. Eligible UAE residents can now use this service to pay for flight bookings priced and settled in UAE Dirhams. Transactions are processed through the Crypto.com Dubai entity and comply with UAE regulatory requirements. This feature fulfills the Memorandum of Understanding signed between Emirates and Crypto.com in July 2025. Users booking through the Emirates App will be redirected to the Crypto.com App for payment authorization, while desktop users can select Crypto.com Pay at checkout and scan a QR code to complete the payment. The Crypto.com Dubai entity, which serves as the payment infrastructure provider, holds a Stored Value Facility license from the Central Bank of the UAE and operates under the relevant framework. This service is currently limited to eligible UAE residents only. Emirates has not yet announced a launch plan for international customers, foreign currencies, or markets outside the UAE.
: Crypto exchange Kraken has opened subscription for Jersey Mike's planned IPO to retail investors. Eligible U.S. users can apply to subscribe to book-entry shares at the IPO price, while users in over 110 countries and regions can apply for tokenized stock JMKEx. JMKEx is backed 1:1 by the underlying stock and custodied with regulated institutions. Allocation results are determined by the IPO underwriters, and a successful allocation is not guaranteed; after the IPO completion, JMKEx will be tradable on Kraken and participating xStocks Alliance platforms 24 hours a day, 5 days a week. Kraken stated that the tokenized stock can be transferred between platforms participating in the xStocks Alliance, on-chained, and accessed via compatible decentralized finance applications. Jersey Mike's is a U.S. sandwich chain brand with over 3,300 stores. Its expected IPO price is between $21 and $25 per share, and it will be listed on the New York Stock Exchange under the ticker JMKE.
Justin Ryan Schmidt, founder of cryptocurrency investment fund Translunar Crypto LP, has been sentenced to 37 months in prison by a U.S. court for tax evasion. The U.S. Department of Justice stated that Schmidt, 46, pleaded guilty this year in federal court in Austin, Texas, to charges of underreporting his income between 2020 and 2022, declaring less than $5,000. However, prosecutors claimed that he actually earned over $7 million from his fund operations between 2019 and 2022. According to reports, Schmidt founded Translunar in 2017, primarily investing in blockchain startups, with funds mainly raised from investors in Austin, Texas, and Aspen, Colorado. The IRS Criminal Investigation Division arrested him on February 23, 2026, and he has been in custody since then. (Bloomberg)
According to The New York Times, Binance has adjusted its cooperation methods with law enforcement agencies in multiple countries, requiring some investigation requests to be submitted through foreign government channels. European investigators stated that this move has lengthened the investigation process and increased the difficulty of tracking fraud and investigating anti-money laundering cases.
Binance has adopted a policy routing the majority of foreign law enforcement agency requests through the UAE and mutual legal assistance treaty process, resulting in slower access to user data. European investigators and US prosecutors have stated that this change makes it more difficult to track scammers, combat money laundering, and quickly freeze or seize assets. Binance will still directly respond to cases involving child sexual abuse, terrorism, or imminent threats to life. Binance stated that it has not reduced its cooperation with regulatory and law enforcement agencies and defined the new process as enhanced safeguards consistent with standards for regulated institutions. The company's compliance operations continue to face ongoing scrutiny.
OdailyOdaily reports that the parliament controlled by Myanmar's military passed the "Anti-Online Scam Law" on Tuesday, allowing the death penalty for those who use violence or illegal detention to force others to engage in online fraud. A draft released in May showed that if the related abuse results in the death of the victim, the death penalty shall be imposed. The draft also stipulates that those who operate online scam centers or commit digital currency fraud can face a maximum sentence of life imprisonment, with sentences for coercion-related crimes ranging from 10 years to life imprisonment. Lower house lawmaker Aye Chan stated that the death penalty clause has been retained in the approved version, the important parts of the bill remain unchanged, and the full text has not yet been published. This bill is the first law passed by the new government of Min Aung Hlaing. The United Nations Office on Drugs and Crime (UNODC) estimates that scam activities in East Asia, Southeast Asia, and Oceania caused losses of between $88.3 billion and $114.1 billion in 2025, and individuals from at least 80 countries were found in related scam compounds. (Decrypt)