Japan's Financial Services Agency said dealers that offer both sales desk and exchange services may steer users toward the more profitable sales desk trading. According to Odaily, the agency made the remarks at an opinion exchange meeting with the Japan Virtual and Crypto Assets Exchange Association on July 15. In a sales desk model, the platform acts as the counterparty and earns the spread, while in an exchange model, users trade with each other and the platform only collects fees. The agency said it will continue discussions with the industry on UI routing design for the two services and on self-regulatory rules, citing customer best-interest obligations that took effect in November 2024.

Contemporary Amperex Technology Co. Ltd. has long dominated the global market for electric-vehicle batteries, but some of its customers in China are now trying to break free, according to Bloomberg.

这是首次以联邦证券监管机构的名义，将链上AMM机制正式纳入证券交易的合规轨道，具有制度性突破意义。

Japan's 20-year and 30-year government bond prices erased earlier gains after the Bank of Japan raised its benchmark interest rate. According to Sina Finance, the 20-year bond yield was 3.845%, while the 30-year bond yield held steady at 4.075%.

Dragonfly Managing Partner Haseeb Qureshi said the Zcash community has positioned the project as a crypto version of Bitcoin and does not want to add more features to the protocol. According to ChainCatcher, he said Zcash still needs to complete Tachyon, quantum resistance, and broader formal verification to defend against AI network attacks, making protocol freeze unsuitable for the next one to two years. Qureshi said the development fund was necessary when private funding for Zcash development was limited, and under current rules it is set to expire in 2028. He added that as ZEC has risen sharply, the fund has grown by an order of magnitude, and once it exceeds $100 million, it will inevitably become institutionalized and face the risk of politicized grant allocation. He argued that the fund should remain in place for now to finish the remaining technical work before protocol freeze, but said this round should be the last development fund. After Zcash reaches the conditions for freeze, the fund should be phased out rather than used to seek new grant programs, with future development funding coming voluntarily from holders and ecosystem supporters, similar to Bitcoin. On governance, Qureshi said he does not support full token-holder voting, arguing that a store-of-value asset needs predictable policy and that pure token governance is too volatile. He said limited holder participation is acceptable and that committee governance, despite its flaws, may be the more workable option. He also disclosed that Dragonfly holds ZEC and that he is an investor in ZODL, though ZODL will not directly benefit from the development fund.

全球普遍认为，全球金融的未来不仅需要数字货币，还需要一种方法来证明账户背后确实存在真实的人。

SEC开始给链上证券交易留出实际运行空间。未来国债、基金、货币市场产品乃至更多传统金融资产，都可能沿着同一条路径进入链上市场。

分析认为反弹核心逻辑在于：油价下滑缓解能源担忧、长端利率下行软化加息预期、空头被迫平仓构成被动推涨动能。然而高盛认为，本轮反弹几乎全由AI股贡献。

中美两国专家呼吁禁止人工智能独立攻击核指挥系统或决定使用核武器。他们还呼吁加强人工管控并设立热线，以防止与人工智能相关的事故引发核危机。

在内部，这项举措被比作以色列的模式——即将军事优先事项与网络安全初创企业、风险投资以及学术研究紧密结合。

SEC批准临时、有条件的“创新豁免”。符合条件的代币化证券交易场所可在许可制AMM与流动性池中，有限试点交易代币化NMS股票。

Anthropic,AI Agent,Claude,LLM,Claude自我进化突然变快：半年时间 从1%到26% 金色财经,AI 距离递归的自我改进（RSI）还有多远？

清晰法案没通过的条款，SEC通过行政命令给代币化美股开绿灯。

Grayscale认为，美联储本次25个基点加息，以及今年可能落地的第二次加息，难以推动数字资产市场出现重大转向。