Japan's largest card network JCB is partnering with Circle to explore expanding USDC stablecoin payment coverage to 40 million merchants.

U.S. June CPI came in lower than expected, significantly cooling market expectations for a near-term Federal Reserve interest rate hike, driving gains in global risk assets. South Korea’s KOSPI index surged rapidly after opening on Wednesday, rising by more than 7% at one point during the session, triggering a temporary trading halt (circuit breaker) on the Korea Exchange; the KOSDAQ market also triggered a synchronized pause in program trading. Chip stocks led the market rally. SK Hynix’s ADRs jumped 27% overnight in U.S. trading, driving its South Korean shares up roughly 10% on Wednesday. Market analysts note that since SK Hynix’s ADR listing, price correlation between the U.S. and South Korean stock markets has further strengthened, potentially enabling cross-timezone transmission of market volatility. However, multiple institutions still warn that while the inflation data eased market concerns about a July interest rate hike, escalating tensions in the Middle East, rising oil prices, and inflationary pressures stemming from AI investment may still limit the Federal Reserve’s future policy space.

The Czech Republic has become the latest European country to block Polymarket on grounds of "unlicensed gambling." On July 13, the Czech Ministry of Finance added the platform to its Unlicensed Online Games List, requiring local internet service providers to cut off access to it within 15 days. Jan ?ehola, head of the Czech gambling regulator, stated that under legal gambling, the state knows who operates, who participates, and which bets are suspicious. While prediction markets take different forms, they essentially allow betting on almost any event—from weather and political decisions to security operations—yet lack corresponding regulation. Czech regulators noted that multiple EU countries have restricted or blocked the platform in recent months, with pressure intensifying this month: Italy has re-listed Polymarket on its blocklist, and the Netherlands has rejected the platform’s appeal. The European Securities and Markets Authority (ESMA) also warned this month that event contracts qualifying as financial instruments are already subject to existing binary options rules, which ban their sale to retail investors. Meanwhile, some jurisdictions are taking the opposite approach: Gibraltar this week launched the world’s first regulatory framework specifically for prediction markets, separating the sector from general gambling laws and allowing licensed operations. Malta has also indicated it is exploring a similar system.

Bank of America released a report on July 14 local time, stating that due to the closure of old factories amid technological upgrades, South Korea’s annual wafer production capacity growth will actually fall below 10%, far short of the official target of doubling by 2030. SK Hynix’s new memory production capacity by 2028 may only reach one-sixth of its original plan. Additionally, the construction and equipment installation cycles of large new wafer plants being built by Samsung and SK Hynix in Gwangju and Jeolla are likely to be extended to a decade.

OpenAI’s official status page shows that its chatbot ChatGPT is currently experiencing a service disruption. The page announcement notes that ChatGPT has seen a “rise in error rates”. OpenAI is investigating login issues reported by users as well as intermittent errors affecting the service.

Federal Reserve Chair Christopher Waller, in his first appearance before Congress, stated that the Fed has a "zero-tolerance" stance on persistently high inflation, noting that the central bank’s failure to keep inflation above its 2% target over the past five years amounts to a dereliction of duty. He stressed the Fed’s assessment will not shift based on a single month of improved CPI data. On monetary policy, Waller said interest rate tools remain part of the Fed’s policy toolkit, and he will discuss with the Federal Open Market Committee (FOMC) when and to what extent these tools should be deployed to combat inflation, though he provided no forward guidance on future interest rate paths. Markets view this as the first time since Waller rejoined the Fed in May this year that he has publicly acknowledged the possibility of tightening monetary policy if necessary. Additionally, Waller emphasized the Fed will maintain its independence when setting interest rate policies, free from political influence. He also noted multiple reform working groups have been launched to drive adjustments to the Fed’s economic analysis, policy formulation and communication mechanisms, marking the start of a "new chapter for the Federal Reserve."

According to BFM News, the Johor state government in Malaysia has requested the federal government to investigate Network School, founded by former Coinbase chief technology officer Balaji Srinivasan, over allegations that some Israeli citizens used third-country passports to participate in the project. The Johor government has asked the Ministry of Home Affairs and relevant law enforcement and security agencies to verify the identities, nationalities, and entry purposes of the individuals involved, and to probe whether Network School’s operations require registration or approval under Malaysian law. Authorities will also review whether the project complies with regulations on site permits, building use, land use, accommodation operations, and commercial activities, and will take legal action if any violations are found. It is understood that Network School is located in Malaysia’s Forest City, founded by Balaji Srinivasan. A private residential community built around his "Network State" concept, it charges membership fees starting at $1,500 per month and offers services including accommodation, catering, fitness, and co-working spaces.