跨境人工智能与金融科技业务 — 美国联邦 · 纽约 · 加利福尼亚 · 中国 · 香港 · 欧盟
双周回顾:2026年8月13日 – 8月26日
一、本期 — 新增法律与案例
本两周以两项纪录性事件收尾。2026年8月13日,美国证监会(SEC)在最后一刻撤回原定于8月14日举行的加密发行规则表决公开会议——但随后仍推进了该方案:SEC 于8月18日提出《加密资产监管规则》(Regulation Crypto Assets),并于8月21日在《联邦公报》刊登,启动为期60天、至2026年10月20日截止的意见征询期。同一天(8月18日),美国财务会计准则委员会(FASB)提议将合格稳定币视为现金等价物(意见征询至11月19日),Meta 儿童安全案亦在加州北区联邦法院开庭。两天后,CFTC 新设的创新咨询委员会召开首次会议(8月20日)。本期以一项里程碑收官:8月26日,Meta 就儿童安全诉讼达成拟议中的170亿美元和解——为单一案件中史上最大的科技行业赔付。AI 版权方面本期无新裁决,但 OpenAI 多区合并诉讼(MDL)与 Thomson Reuters 诉 Ross 两案的判决均已逾期;在亚洲,OKX 限制其香港员工使用 Anthropic 的 Claude。以下为本期全部新增事项;持续跟踪及即将到期事项见第二部分表格。
第一部分仅涵盖本期(8月13–26日)新增事项。所有持续及即将到期事项列于摘要表。
美国 — Meta 就儿童安全达成创纪录的170亿美元和解(8月26日)
史上最大的科技和解案,实质上是一项针对产品设计的裁断。2026年8月26日,Meta 与由加利福尼亚、科罗拉多、肯塔基和新泽西四州牵头的多州总检察长联盟达成拟议和解,将在十年内支付最高约170亿美元,以了结51起合并诉讼。诉讼指控 Facebook 与 Instagram 被刻意设计为使未成年人成瘾,且 Meta 隐瞒相关风险;各州还指控其通过收集13岁以下用户数据违反《儿童在线隐私保护法》(COPPA)。和解在开庭约一周后达成(该案于8月18日在加州北区联邦法院开庭,由 Yvonne Gonzalez Rogers 法官审理,和解仍待其批准)。除赔付外,和解还附带可强制执行的设计变更:默认每日使用时长限制、仅家长可解除的夜间使用锁定、增强的家长监督工具,以及用于识别18岁以下及13岁以下用户的稳健年龄核验措施。部分资金将用于青少年心理健康、筛查与危机干预服务。有评论称之为社交媒体的“烟草和解时刻”。
实务评析
对任何面向未成年人的消费级或 AI 产品开发者而言,关键并非赔付金额,而在于:和解协议如今已在直接规定产品架构——将使用时长上限、宵禁、年龄核验与家长控制作为可强制执行的条款,而非自愿功能。结合本年度新墨西哥州对 Meta 的裁决(约9.42亿美元,并附使用上限与通知宵禁),方向已十分明确:“成瘾性设计”与薄弱的年龄门槛正本身成为诉讼触发点。AI 陪伴及聊天机器人开发者应假定同一“设计救济”手法下一步会指向自己,并应在法院下令之前即建立(并留档)面向未成年人的安全默认设置。
美国 — SEC 提出《加密资产监管规则》(8月13–21日)
SEC 于8月18日提出《加密资产监管规则》,并于8月21日在《联邦公报》刊登拟议稿(编号 S7-2026-27),启动为期60天、至2026年10月20日截止的意见征询期。该方案保留了主席 Atkins 自3月17日 DC 区块链峰会演讲以来一直预告的三条路径:初创企业豁免(四年内最高约500万美元,采用较轻的白皮书式披露);募资豁免(任何12个月内最高7500万美元,须提供经审计财报及半年度报告);以及投资合同安全港,允许充分去中心化的代币退出证券认定。委员 Peirce 的支持声明(“Filling the Regulatory Tank”)将其定位为对“以执法代替规则”的长效替代。
实务评析
SEC在《联邦公报》的刊登将政策信号转化为有明确期限的参与义务。若三条路径中任何一条可能适用于客户的募资安排,本季度的交付物应是一份于10月20日前提交的意见函,而非“观望”备忘录。需关注其与 CLARITY 法案的相互作用:若国会在9月15日的节点有所动作,立法可能重塑或使本规则的部分内容失效,故意见函应同时兼顾两条轨道。
美国 — FASB 提议将合格稳定币视为现金等价物(8月18日)
美国财务会计准则委员会(FASB)发布拟议会计准则更新(ASU),厘清“现金等价物”定义如何适用于稳定币等数字资产,允许企业依据一组属性判断其稳定币持仓是否达到现金等价物的流动性水平。意见征询至2026年11月19日。连同 SEC 的方案,这反映出将加密资产在上市公司资产负债表上“常规化”的更广泛推动——对任何持有或发行稳定币的发行人、企业财务部门或基金而言,这是一项影响虽不张扬却颇为实质的转变,因为现金等价物处理会改变这些持仓在财务报表中的列示方式。
美国 — CFTC 创新咨询委员会首次会议(8月20日)
CFTC 在数字资产与 AI 监管中插旗。8月20日其创新咨询委员会(2026年1月设立以取代技术咨询委员会,由期货业协会 FIA 首席执行官 Walt Lukken 担任主席)召开首次会议,Coinbase、Ripple、Gemini、CME 与 Kalshi 等成员出席。议程大致分为加密(约50分钟)、AI(约35分钟)与预测市场(约50分钟),而争论最激烈的是预测市场:事件合约的自我认证,以及“提及市场”(mention markets,即押注某演讲或财报电话会中是否使用特定词语的合约)及其易被操纵的问题。委员会讨论了该领域的监管路线图。对实务者的信号是:CFTC 意在成为美国市场结构规则的共同起草者,而非 SEC 的旁观者。
美国 — AI 版权诉讼:重大裁决逾期未出(持续)
本期没有新的 AI 版权裁决落地——而这一“缺席”本身即是新闻。业界等待的两项裁决如今明显迟延:纽约南区(S.D.N.Y.)OpenAI 合并诉讼(MDL)的简易判决自4月2日结束书面辩论以来已逾约四个半月未出;第三巡回上诉法院在 Thomson Reuters 诉 Ross Intelligence 案(案号 25-2153)于6月11日言词辩论后已逾十周仍未出具意见。与此同时,Bartz 诉 Anthropic 案的后续仍在推进:在7月20日创纪录的15亿美元和解获终局批准后(覆盖约482,460部作品,每部约3,109美元),约350名选择退出和解的权利人正另行诉讼,寻求每部作品最高15万美元的法定赔偿上限。预计上述裁决之一将在短时间内重置“合理使用”的讨论。
中国 / 香港 — AI 访问政策引发关注
一起供应商访问事件成为合规教训。交易所 OKX 禁止其香港员工(以及经中国内地中转的员工)使用 Anthropic 的 Claude,此前其企业版 Claude 账户曾被短暂暂停;该交易所称,部分香港员工先前的使用可能不符合 Anthropic 的区域访问政策——该政策目前禁止在中国内地及香港使用 Claude。另有平台提供以中国 AI 公司股票为标的的永续合约,以规避对外资进入内地上市股票的限制。作为背景,中国《人工智能拟人化交互服务管理暂行办法》(2026年7月15日生效)持续落地:须披露对方并非真人、加入休息/安全提醒、对儿童屏蔽“虚拟伴侣”功能,并就14岁以下用户取得家长同意。
二、摘要表 — 新增与持续
标注“新增”的浅色行来自8月13–26日本期;“持续”项为此前报告、保留用于跟踪。
2026-08-26 · 美国—加州北区
Meta 就儿童安全达成拟议约170亿美元和解(33个州合并诉讼)
状态：新增—和解
对企业的意义：史上最大科技赔付;附强制性未成年人设计变更;待法院批准
2026-08-13→21 · 美国—联邦
SEC 撤回8月14日表决,随后提出《加密资产监管规则》(8月21日刊登《联邦公报》)
状态：新增—意见征询
对企业的意义：60天期限;意见截止10月20日;评估适用路径并提交
2026-08-18 · 美国—联邦
FASB 提议将稳定币视为现金等价物(拟议 ASU)
状态：新增—意见征询
对企业的意义：意见截止11月19日;改变稳定币的资产负债表处理
2026-08-20 · 美国—联邦
CFTC 创新咨询委员会首次会议
状态：新增—进行中
对企业的意义：CFTC 谋求加密/预测市场角色;“提及市场”风险
中国 / 香港 · 亚洲
OKX 限制员工使用 Anthropic Claude(区域访问政策)
状态：新增—更新
对企业的意义：核查中国内地/香港团队的供应商 AI 访问政策
2026-10-20 · 美国—联邦
《加密资产监管规则》意见截止
状态：即将到期
对企业的意义：起草并提交意见函;兼顾 CLARITY 法案的相互作用
2026-09-15 · 美国—联邦
CLARITY 法案首次程序性表决
状态：持续
对企业的意义：2026年通过概率约33–37%;与 SEC 规则轨道并行推进
持续 · 美国—法院
OpenAI MDL(SDNY)简易判决;Thomson Reuters 诉 Ross(三巡)
状态：持续—待决
对企业的意义：两案均逾期;任一裁决或重置“合理使用”标准
持续 · 美国—法院
Bartz 诉 Anthropic 后续(约350名退出者)
状态：持续
对企业的意义：退出者寻求每部作品最高15万美元法定上限
2026-08-02 · 欧盟
《AI 法案》— 通用目的 AI(GPAI)执法权生效
状态：持续—已生效
对企业的意义：委员会可对 GPAI 提供者处罚;完善合规文档
2026-07-15 · 中国
《人工智能拟人化交互服务管理暂行办法》
状态：持续—已生效
对企业的意义：陪伴类应用须披露非真人;未成年人保护;取得同意
2026-07-01 · 欧盟
MiCA 授权截止
状态：持续—已生效
对企业的意义：未获授权的 CASP 须退出;罚款最高达营业额12.5%
2026下半年 · 香港
首批稳定币发行人牌照(汇丰、Anchorpoint)
状态：持续
对企业的意义：港元挂钩稳定币预计于2026下半年推出
三、合规行动建议
人工智能(AI)企业
儿童安全设计必须合规。约170亿美元的 Meta 和解——叠加本年度约9.42亿美元的新墨西哥州裁决——表明各州正强制推动产品层面的改变:默认使用时长限制、仅家长可解除的夜间锁定、年龄核验与家长控制。若你开发面向未成年人的 AI 陪伴或聊天机器人产品,应假定同一手法会指向你:现在就建立并留档面向未成年人的安全默认设置、稳健的年龄核验与真实的安全声明,因为风险敞口是强制性的设计命令外加损害赔偿。
版权最终裁决待决——保持准备,切勿松懈。鉴于 OpenAI MDL 与 Thomson Reuters 诉 Ross 两案均已逾期,任一裁决都可能在一夜之间改变“合理使用”的界线。请保留每一训练数据集均合法取得的证据,在待决诉讼的广泛证据开示令下妥善保存记录,并淘汰任何来源存疑的数据——Bartz 和解奖励了来源清晰者、惩罚了盗版拷贝。
欧盟《AI 法案》(GPAI):执法已生效。自8月2日起,委员会有权要求提供文档、开展评估、下令召回并处以罚款。请完善你的技术文档、版权合规政策、训练数据摘要与系统性风险评估,并确保第50条透明度义务(聊天机器人披露、AI 内容标注、深度伪造标注)已切实落地。
供应商与区域性 AI 访问政策至关重要。OKX/Claude 事件表明,模型提供者的区域访问条款(例如覆盖中国内地与香港的限制)可能突然造成运营与合规缺口。请梳理你在中国内地/香港的员工所使用的 AI 工具,确认其符合各提供者的条款,并留档已获批准的替代方案。
美国各州前沿 AI 规则依然适用。保持加州 SB 53 的透明度与举报人流程运转,并为纽约 RAISE 法案(2027年1月1日生效)做准备,注意其更短的事件报告期限。留意司法部的“优先适用”工作组,但应假定州法仍可强制执行。
中国陪伴/智能体应用。依据7月15日的拟人化服务办法,须披露对方并非真人、加入安全提醒、对儿童屏蔽“虚拟伴侣”功能、就14岁以下用户取得家长同意,并对 AI 生成内容加注显式与隐式标识(GB 45438-2025)。
Web3 / 加密企业
SEC 意见征询窗口是首要事项——截止10月20日。《加密资产监管规则》现已刊登于《联邦公报》。请评估哪条路径适用于你的募资(约500万美元初创豁免、7500万美元募资豁免,或去中心化安全港),搭建相匹配的披露/审计/报告体系,并提交一份同时论及9月 CLARITY 法案如何相互作用的意见函。
稳定币会计处理亦在变化。FASB 拟议的现金等价物处理(意见截止11月19日)将影响稳定币持仓在资产负债表上的列示。若你持有或发行稳定币,现在就对两种结果进行建模,并在准则定稿前与审计师达成一致。
跟踪 CLARITY 法案9月15日节点——但勿寄予厚望。鉴于2026年通过概率约为三分之一,应以 SEC 规则制定作为近期联邦规则的主要来源来筹划,并将立法路径视为并行而非首要。
预测市场已进入 CFTC 视野。若你运营或挂牌事件合约,应预期对自我认证与“提及市场”操纵风险的审视;请在任何路线图出台前即着手记录挂牌标准与市场诚信控制措施。
欧盟(MiCA)。过渡宽限期已于7月1日结束——若你服务欧盟客户,须持有 MiCA 牌照,否则须停止。罚款最高可达年营业额的12.5%;ESMA 已进入执法阶段(储备隔离、托管、按面值赎回、大型稳定币交易上限)。
香港 / 中国。仅 HKMA 持牌发行人与 SFC 持牌平台可提供法币挂钩稳定币(2500万港元资本、全额优质流动资产储备);首批银行背书的港元稳定币预计于2026下半年推出。应将人民币挂钩稳定币与 RWA 代币化视为境内外均被禁止——将合法活动通过香港的受监管制度进行。
本通讯仅供参考,不构成法律意见。如需人工智能法律治理或 Web3 及数字资产合规方面的协助,请联系我们的律师。
English Edition
AI & Web3 Biweekly Legal Newsletter
Cross-Border AI and Fintech Practice — United States · New York · California · China · Hong Kong · EU
Two Weeks in Review: August 13 – August 26, 2026
This Period — New Laws & Cases
A consequential fortnight bookended by two records.It opened with a surprise — on August 13 the SEC pulled its scheduled August 14 open-meeting vote on crypto offering rules at the last minute — and then advanced the package anyway: the Commission proposed “Regulation Crypto Assets” on August 18 and published it in the Federal Register on August 21, starting a 60-day comment clock that closes October 20, 2026. The same Tuesday (Aug 18), FASB proposed treating qualifying stablecoins as cash equivalents (comments due Nov 19), and Meta's child-safety trial opened in the Northern District of California. Two days later the CFTC's new Innovation Advisory Committee held its first meeting (Aug 20). The period closed with a landmark: on August 26 Meta agreed to a proposed $17 billion child-safety settlement — the largest tech-industry payout in a single case. No new AI copyright ruling landed, though the OpenAI MDL and Thomson Reuters v. Ross decisions are both overdue; and in Asia, OKX restricted its Hong Kong staff from using Anthropic's Claude. Everything genuinely new is below; ongoing and upcoming items are tracked in the Section 2 table.
Section 1 covers only what is new in this period (August 13–26). All ongoing and upcoming items are in the Summary Table.
United States — Meta Agrees to Record $17 Billion Child-Safety Settlement (Aug 26)
The biggest tech settlement ever, and a product-design verdict in all but name.On August 26, 2026, Meta reached a proposed settlement with a coalition of state attorneys general — led by California, Colorado, Kentucky and New Jersey — to pay up to $17 billion (reported by some outlets as $17.1B) over ten years, resolving 51 consolidated lawsuits alleging that Facebook and Instagram were engineered to be addictive to minors and that Meta concealed the risks. The states also alleged violations of the Children's Online Privacy Protection Act (COPPA) through collection of data on under-13 users. The deal came just over a week into trial in the U.S. District Court for the Northern District of California (proceedings began August 18 before Judge Yvonne Gonzalez Rogers, who must still approve the settlement). It pairs the money with enforceable design changes: default daily time limits, an overnight-use block that only a parent can lift, enhanced parental-supervision tools, and robust age-assurance to detect under-18 and under-13 users. Part of the fund is earmarked for youth mental-health, screening and crisis services. Commentators are calling it social media's tobacco-settlement moment.
PRACTITIONER'S COMMENTARY
For any company building consumer or AI products used by minors, the significance is not the dollar figure — it is that a settlement is now dictating product architecture: time caps, curfews, age assurance and parental controls as enforceable terms, not voluntary features.Read alongside this year's New Mexico Meta ruling (~$942M, with usage caps and a notification curfew), the direction is unmistakable: “addictive design” and weak age-gating are becoming litigation triggers in their own right. AI companion and chatbot developers should assume the same design-remedy playbook will be aimed at them next, and should build (and document) youth-safety defaults before a court orders them.
United States — SEC Pulls Its Own Vote, Then Proposes “Regulation Crypto Assets” Anyway (Aug 13–21)
SEC proposed “Regulation Crypto Assets” on August 18 and published the proposing release in the Federal Register on August 21 (S7-2026-27), opening a 60-day comment period that closes October 20, 2026.The proposal keeps the three pathways Chairman Atkins has trailed since his March 17 DC Blockchain Summit speech: a startup exemption (up to about $5M over a four-year period via lighter, whitepaper-style disclosure); a fundraising exemption (up to $75M in any 12-month period, with audited financials and semiannual reporting); and an investment-contract safe harbor letting a sufficiently decentralized token exit securities classification. Commissioner Peirce's supporting statement (“Filling the Regulatory Tank”) frames it as the durable replacement for regulation-by-enforcement.
PRACTITIONER'S COMMENTARY
The pulled vote is a useful reminder that a scheduled meeting is not a done deal — but the substance survived, and the Federal Register publication converts a policy signal into a dated obligation to engage.If any of the three pathways plausibly fits a client's raise, the deliverable this quarter is a comment letter by October 20, not a wait-and-see memo. Watch the interplay with CLARITY: if Congress moves at its September 15 checkpoint, a statute could reshape or moot parts of this rule, so comments should address both tracks.
United States — FASB Proposes Treating Qualifying Stablecoins as Cash Equivalents (Aug 18)
The Financial Accounting Standards Board (FASB) issued a proposed Accounting Standards Update clarifying how the definition of “cash equivalents” applies to digital assets such as stablecoins, letting companies use a set of attributes to decide whether a stablecoin holding meets the liquidity level of a cash equivalent.Comments are due November 19, 2026. Together with the SEC's proposal, it reflects a broader administration push to “regularize” crypto assets on public-company balance sheets — a quieter but consequential shift for any issuer, treasury or fund holding stablecoins, because cash-equivalent treatment changes how those holdings appear in financial statements.
United States — CFTC's Innovation Advisory Committee Debuts (Aug 20)
The CFTC planted a flag in digital-asset and AI oversight.On August 20, its Innovation Advisory Committee — launched in January 2026 to replace the Technology Advisory Committee, and chaired by Futures Industry Association CEO Walt Lukken — held its inaugural meeting, with members from Coinbase, Ripple, Gemini, CME and Kalshi at the table. The agenda split roughly into crypto (50 minutes), AI (35 minutes) and prediction markets (50 minutes), but the sharpest debate was on prediction markets: self-certification of event contracts, and “mention markets” (contracts betting on whether particular words are said in a speech or earnings call) and their susceptibility to manipulation. The Committee discussed a regulatory roadmap for the sector. The signal for practitioners: the CFTC intends to be a co-author of U.S. market-structure rules, not a bystander to the SEC.
United States — AI Copyright Docket: The Big Rulings Are Overdue (ongoing)
No new AI copyright ruling landed in this period — and that absence is itself the news.Two decisions the field is waiting on are now conspicuously late: the S.D.N.Y. summary-judgment ruling in the consolidated OpenAI MDL has been outstanding roughly four and a half months since briefing closed on April 2, and the Third Circuit has entered no opinion in Thomson Reuters v. Ross Intelligence (No. 25-2153) ten weeks after June 11 argument. Meanwhile the Bartz v. Anthropic aftermath continues: following final approval of the record $1.5B settlement on July 20 (covering roughly 482,460 works at about $3,109 each), the ~350 claimants who opted out are litigating separately toward the up-to-$150,000 statutory ceiling per work. Expect one of these rulings to reset the fair-use conversation on short notice.
China / Hong Kong — An AI Access-Policy Flashpoint
Vendor and regional AI-access policies are becoming a real operational issue. The OKX and Claude episode shows how a model provider’s geographic restrictions can suddenly affect employee access, internal workflows and business continuity.
Summary Table — New and Ongoing
Shaded rows marked “NEW” are from the August 13–26 period. “Ongoing” items were reported earlier and are kept for tracking.
Aug 26, 2026 · U.S. — N.D. Cal.
Meta agrees to proposed $17B child-safety settlement (33 states consolidated suits)
Status：NEW — settlement
What it means：Record tech payout; enforceable youth design changes; court approval pending
Aug 13→21, 2026 · U.S. — Fed
SEC pulls Aug 14 vote, then proposes “Regulation Crypto Assets” (Fed. Reg. Aug 21)
Status：NEW — comment period
What it means：60-day clock; comments due Oct 20; assess which pathway fits and file
Aug 18, 2026 · U.S. — Fed
FASB proposes stablecoins as cash equivalents (proposed ASU)
Status：NEW — comment period
What it means：Comment by Nov 19; changes balance-sheet treatment of stablecoins
Aug 20, 2026 · U.S. — Fed
CFTC Innovation Advisory Committee — first meeting
Status：NEW — active
What it means：CFTC eyeing crypto/prediction-market role; “mention market” risk
China / HK · Asia
OKX restricts staff from Anthropic Claude (regional-access policy)
Status：NEW — update
What it means：Check vendor-AI access policies for CN/HK-based teams
Oct 20, 2026 · U.S. — Fed
Reg Crypto Assets comment deadline
Status：Upcoming
What it means：Draft and file comment letters; address CLARITY interplay
Sept 15, 2026 · U.S. — Fed
CLARITY Act — first procedural vote
Status：Ongoing
What it means：2026 passage ~33–37%; run SEC-rulemaking track in parallel
Ongoing · U.S. — Courts
OpenAI MDL (SDNY) summary judgment; Thomson Reuters v. Ross (3d Cir.)
Status：Ongoing — pending
What it means：Both overdue; either could reset the fair-use test
Ongoing · U.S. — Courts
Bartz v. Anthropic aftermath (~350 opt-outs)
Status：Ongoing
What it means：Opt-outs pursue up to $150k/work statutory ceiling
Aug 2, 2026 · EU
AI Act — GPAI enforcement powers live
Status：Ongoing — in force
What it means：Commission can fine GPAI providers; finalize documentation
Jul 15, 2026 · China
AI Anthropomorphic Interactive Services Measures
Status：Ongoing — in force
What it means：Companion-app human disclosure; minor protections; consent
Jul 1, 2026 · EU
MiCA authorization deadline
Status：Ongoing — in force
What it means：Unauthorized CASPs must exit; fines up to 12.5% of turnover
H2 2026 · Hong Kong
First stablecoin issuer licences (HSBC; Anchorpoint)
Status：Ongoing
What it means：HKD-referenced stablecoin launches expected H2 2026
Call for Compliance
For AI Companies
Child-safety design is criticial.The $17B Meta settlement — on top of this year's ~$942M New Mexico ruling — shows states forcing product-level change: default time limits, overnight-use blocks liftable only by a parent, age assurance, and parental controls. If you build AI companion or chatbot products used by minors, assume the same playbook will be aimed at you: build and document youth-safety defaults, robust age assurance, and honest safety claims now, because the exposure is injunctive design mandates plus damages.
Copyright rulings are pending — stay ready, not complacent.With the OpenAI MDL and Thomson Reuters v. Ross both overdue, either decision could shift the fair-use line overnight. Keep proof that every training dataset was obtained legally, preserve records under the expansive discovery orders in the pending suits, and retire anything tainted — the Bartz settlement rewarded clean provenance and punished pirated copies.
EU AI Act (GPAI): enforcement is live.The Commission's power to demand documentation, run evaluations, order withdrawals and impose fines took effect August 2. Finalize your technical documentation, copyright-compliance policy, training-data summaries and systemic-risk assessments, and make sure Article 50 transparency (chatbot disclosure, AI-content marking, deepfake labeling) is actually implemented.
At the same time, new financial products are testing other regulatory boundaries. Some platforms have introduced perpetual futures linked to Chinese AI-company shares, offering overseas users indirect exposure to assets that may otherwise be difficult to access. Meanwhile, China’s rules governing anthropomorphic AI services are placing greater emphasis on user protection, including clear disclosure that users are interacting with AI, safety and break reminders, stronger protections for minors, and parental-consent requirements for younger users.
U.S.state frontier-AI rules still apply. Keep California SB 53 transparency and whistleblower processes running, and build toward New York's RAISE Act (Jan 1, 2027) with its shorter incident-reporting deadline. Watch the DOJ preemption task force, but assume state laws remain enforceable.
China companion/agent apps.Under the July 15 anthropomorphic-services measures, disclose the bot is not human, add safety reminders, block “virtual partner” features for children, obtain parental consent for under-14s, and apply explicit + implicit AI-content labels (GB 45438-2025).
For Web3 / Crypto Companies
The SEC comment window is the priority — deadline Oct 20.Despite the pulled August 14 vote, “Regulation Crypto Assets” is now in the Federal Register. Evaluate which pathway fits your raise (~$5M startup exemption vs. $75M fundraising exemption vs. decentralization safe harbor), build the matching disclosure/audit/reporting infrastructure, and file a comment letter that also addresses how a September CLARITY Act would interact.
Stablecoin accounting is changing too.FASB's proposed cash-equivalent treatment (comment by Nov 19) will affect how stablecoin holdings appear on the balance sheet. If you hold or issue stablecoins, model both outcomes now and get your auditors aligned before the standard finalizes.
Track CLARITY's Sept 15 checkpoint — but don't bank on it.With 2026 passage priced around a third, plan against the SEC rulemaking as the nearer-term source of federal rules and treat the legislative path as parallel, not primary.
Prediction markets are in the CFTC's sights.If you run or list event contracts, expect scrutiny of self-certification and “mention market” manipulation risk; start documenting listing standards and market-integrity controls ahead of any roadmap.
EU (MiCA).The grandfathering window closed July 1 — if you serve EU customers, hold a MiCA licence or stop. Fines reach up to 12.5% of annual turnover; ESMA is in its enforcement phase (reserve segregation, custody, redemption-at-par, large-stablecoin caps).
Hong Kong / China.Only HKMA-licensed issuers and SFC-licensed platforms may offer fiat-referenced stablecoins (HKD 25M capital, full HQLA reserves); first bank-backed HKD stablecoins are due H2 2026. Treat RMB-pegged stablecoins and RWA tokenization as prohibited onshore and offshore — route legitimate activity through Hong Kong's regulated regime.
This briefing is prepared for informational purposes only and does not constitute legal advice. If you are seeking AI legal governance or Web3 & digital-assets compliance, please reach out to our lawyers.
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*本文为上海曼昆律师事务所的原创文章，仅代表本文作者个人观点，不构成对特定事项的法律咨询和法律意见。如需转载及法律咨询，请添加客服：mankunlawyer / MankunLawFirm（WhatsApp)。
