US financial regulators

UBS has been fined $125 million by US regulators, a penalty being read as a sign of a broader shift in how American authorities are supervising major financial institutions. The fine, reported by Global Finance Magazine, comes amid heightened scrutiny of banks' compliance and risk practices. Analysts are watching whether this marks the start of more aggressive enforcement against large international banks operating in the US market.

Nvidia's latest AI chips could be cleared for sale in China, according to market chatter picked up by financial news outlets. The report revived debate over whether Washington will ease export controls that currently block Nvidia's most advanced processors from Chinese customers, a market that once accounted for a significant share of its data centre revenue. Investors are watching for any official confirmation from Nvidia or US regulators.

The Conference of State Bank Supervisors has announced a new AI supervisory framework covering state-chartered banks and nonbank financial institutions. The framework is intended to guide how state regulators oversee the use of artificial intelligence in financial services, adding to growing regulatory attention on AI across the US financial sector.

A federal court has ruled that prediction market operator Kalshi is subject to Tennessee's gambling laws in relation to its sports event contracts. The decision means the company cannot treat its sports offerings as federally regulated financial products exempt from state gambling regulation in Tennessee. It marks a setback for Kalshi's efforts to expand sports event trading across US states and could prompt similar challenges elsewhere.

Efforts to pass the Clarity Act, a bill to set clear US rules for crypto markets, have stalled amid political tensions tied to the Trump family's growing crypto ventures. Critics say the family's financial interests in digital assets have complicated negotiations, giving Democrats reason to resist and Republicans reason to defend, leaving the legislation in limbo on Capitol Hill.