News linked to both this project and an event.
Odaily News: The Financial Stability Board (FSB) has stated that cross-border stablecoin regulation and crisis management mechanisms remain immature or have yet to be established. FSB Chair Andrew Bailey noted that its 2025 review shows that only 11 out of the 28 jurisdictions surveyed have completed building stablecoin regulatory frameworks.The FSB warned that stablecoin runs could transmit to traditional financial markets through forced sales of reserve assets and bank deposit withdrawals. For multi-issuer stablecoins, redemption demands could concentrate on a single issuer, while reserve assets are distributed across different jurisdictions — a similar risk that European Central Bank (ECB) President Christine Lagarde had previously flagged.The FSB has finalized practices for the responsible adoption of AI in the financial sector, covering organizational governance, AI development and deployment, cybersecurity, and third-party service risks. Andrew Bailey stated that AI-driven sophisticated cyberattacks could undermine the resilience of critical financial institutions and market infrastructure. The FSB has submitted related correspondence to the G20 Finance Ministers and Central Bank Governors meeting. (Cointelegraph)
According to CNBC, Andrew Bailey, Governor of the Bank of England and Chairman of the Financial Stability Board (FSB), wrote to G20 finance ministers and central bank governors on August 31 to warn that frontier AI models are exhibiting increasingly sophisticated autonomy and threat capabilities, which could fundamentally alter the speed, scale, and economics of cyberattacks, potentially triggering disorderly adjustments across global financial markets. Bailey noted that highly concentrated third-party service providers will become critical nodes of systemic risk, emphasizing that most countries currently lack regulatory frameworks for the development and deployment of frontier AI. He also flagged vulnerabilities in sovereign debt markets, the growing trend of leverage in equity markets, and the overvaluation of AI-related assets, urging governments to accelerate the refinement of relevant safety mechanisms.
Odaily reports: Artificial intelligence company Anthropic has agreed to provide a special briefing to relevant officials of the Financial Stability Board (FSB) regarding its Mythos AI model. The briefing will focus on security vulnerabilities identified by the model within the defense systems of the global financial network.According to two sources familiar with the matter, the communication was proposed by Bank of England Governor Andrew Bailey, requesting that Anthropic brief the FSB on its new preview version of the Claude·Mythos AI model. The FSB is currently compiling a report on compliance standards for the application of artificial intelligence in the financial industry, with a draft expected to be released next month for public consultation. Both the FSB and Anthropic have declined to comment on their recent communications. (Jiemian)