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The UK and the US expand cooperation on digital asset regulation, planning to establish comparable standards for stablecoins

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.

Global stock market review for August 5: Asian stocks rose broadly, European stocks had mixed performance, and U.S. stocks were varied

According to Gate market data, on August 5, global stock markets showed mixed performance. In Asia, the Shanghai Composite Index rose by 56.15 points, an increase of 1.47%, closing at 3,878.43 points; the Shenzhen Component Index rose by 258.49 points, an increase of 1.86%, closing at 14,144.2 points; the CSI 300 Index rose by 57.22 points, an increase of 1.24%, closing at 4,658.15 points; the ChiNext Index rose by 46.18 points, an increase of 1.32%, closing at 3,535.14 points; the STAR 50 Index rose by 77.31 points, an increase of 4.78%, closing at 1,693.67 points.The Hong Kong Hang Seng Index rose by 62.9 points, an increase of 0.24%, closing at 25,915.82 points. In Europe, the German DAX30 Index fell by 83.97 points, a decrease of 0.32%, closing at 26,139.29 points; the UK FTSE 100 Index rose by 10.68 points, an increase of 0.1%, closing at 10,890.06 points; the French CAC40 Index rose by 2.67 points, an increase of 0.03%, closing at 8,669.3 points; the Euro Stoxx 50 Index fell by 7.45 points, a decrease of 0.11%, closing at 6,479.25 points; the Spanish IBEX35 Index rose by 31.2 points, an increase of 0.16%, closing at 20,054.8 points; the Italian FTSE MIB Index fell by 99.5 points, a decrease of 0.19%, closing at 53,441 points.In the US stock market, the Dow Jones Index rose by 263.06 points, an increase of 0.49%, closing at 54,348.94 points; the S&P 500 Index fell by 13 points, a decrease of 0.17%, closing at 7,723.52 points; the Nasdaq Composite Index fell by 221.55 points, a decrease of 0.83%, closing at 26,363.44 points.

hot_img Microsoft: OpenAI's revenue for fiscal year 2026 will reach 24.1 billion dollars, accounting for 70% of AI sales

According to Ed Zitron's citation of Microsoft's latest financial report and Bloomberg analysis, OpenAI contributed $24.1 billion in revenue to Microsoft for the fiscal year ending June 2026, accounting for more than 70% of Microsoft's AI business revenue for that fiscal year, and approximately 7.26% of Microsoft's total revenue of $331.8 billion for FY26. Bloomberg estimates OpenAI's contribution to be around 70%, based on Microsoft's previously disclosed 123% annual growth rate in AI business and an annualized AI revenue scale of about $34 billion.The report points out that Microsoft has accumulated approximately $261.3 billion in capital expenditures since early 2022, with analysts believing that a significant portion of this expenditure serves a single client, OpenAI. Ed Zitron commented that Microsoft "has invested in AI for nearly four years, and aside from a company that requires infinite resources to maintain its computing bill, there is almost nothing to show for it." Previously, in a report on August 4, Ed Zitron cited analysts estimating that OpenAI and Anthropic together account for more than 70% of the AI revenue of the three major cloud providers: Microsoft, Google, and Amazon. Microsoft also disclosed in its financial report that as of June 30, accounts receivable from OpenAI amounted to $6 billion.
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