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Finance

Finance network separation rules eased, fueling 140 trillion won fintech investment

South Korea\'s financial authorities expanded the scope of eased network separation rules for AI use to secondary financial institutions and electronic financial business operators. The number of firms to be selected rises to as many as 15, and eligibility thresholds are lowered. Selected institutions can use external AI and security SaaS after putting alternative controls in place. Industry expectations are mixed, with some firms cautious. Global fintech investment rose to $103.1 billion in the first half, with focus expected to shift to AI and financial infrastructure.

Crypto

X Money\'s key perk of 6 percent annual interest hit as New York rate drops to 0 percent from October

X Money, a payments service launched by Elon Musk\'s X, will no longer be able to pay interest on stored balances in New York after the state financial regulator set the yield on New York customer accounts at 0.00 percent from Oct. 1. The change removes a benefit X promoted during its U.S. rollout, including a 6 percent annual yield for Premium Plus subscribers, and highlights how state-by-state licensing affects service terms.

Games & Commerce

X users flooded with password reset emails; company says no evidence of breach

A large-scale attempt to trigger password resets targeting user accounts occurred shortly after X expanded the availability of its payment service, X Money. Many users reported receiving repeated password reset emails they did not request. X said it is investigating and has found no evidence so far that account takeovers or system intrusions were successful. The activity is believed to have generated reset requests using publicly available usernames rather than stealing passwords directly.