china

China’s Kuaishou employees accused in M Bitcoin laundering scheme

China’s Kuaishou employees accused in $20M Bitcoin laundering scheme

Authorities in Beijing’s Haidian District have reportedly uncovered a Bitcoin laundering operation involving approximately 140 million yuan (around $20 million) allegedly stolen by employees of Kuaishou, a leading Chinese short-form video platform. The investigation revealed that several Kuaishou employees conspired with external parties to embezzle company funds for business development incentives. Under the platform’s subsidy […]

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Conflux ($CFX) Surges 49.35% in 24 Hours, Can the Momentum Push Price to alt=

Conflux ($CFX) Surges 49.35% in 24 Hours, Can the Momentum Push Price to $0.30?

The Conflux ($CFX) token is experiencing explosive growth, with a recent 49.35% price increase in a single day, trading at $0.2253. It now boasts a $1.15 billion market cap and a 24-hour trading volume of $1.73 billion. Community sentiment reflects this optimism, with 80% of participants expressing a bullish outlook. Source: CoinMarketCap Why Conflux ($CFX)

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China’s US Treasury Holdings Fell to Lowest Level Since 2009 in May

China’s US Treasury Holdings Fell to Lowest Level Since 2009 in May

According to data released by the U.S. Treasury, China has sold off more of its U.S. Treasury holdings, bringing its current total to $756.3 billion, the lowest level since March 2009. While some may not consider this significant, it marks the third consecutive month of declines, signaling a new trend amid ongoing trade war concerns.

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Chinese L1 Blockchain Conflux Teases New Upgrade, Eyes Offshore Yuan Stablecoin

Chinese L1 Blockchain Conflux Teases New Upgrade, Eyes Offshore Yuan Stablecoin

Conflux Network, a Chinese Layer 1 blockchain, is preparing to roll out a major network upgrade while stepping into the stablecoin arena with a yuan-pegged digital currency designed for international use. Key Takeaways: Conflux Network is launching a yuan-pegged stablecoin to support cross-border BRI payments. The upcoming Conflux 3.0 upgrade aims to boost network speed

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China Merchants Bank Arm Wins Crypto Licence in Hong Kong

China Merchants Bank Arm Wins Crypto Licence in Hong Kong

China Merchants Bank’s CMB International Securities has reportedly become the first mainland China-affiliated brokerage to secure a virtual asset licence from Hong Kong’s Securities and Futures Commission. This approval enables CMBI to legally offer cryptocurrency trading, custodial support, and digital asset advisory services within Hong Kong’s tightly regulated framework. Authorities reaffirmed their commitment to becoming

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China Merchants Bank’s Brokerage Arm is 1st Mainland Broker to Offer Crypto Services in Hong Kong

China Merchants Bank’s Brokerage Arm is 1st Mainland Broker to Offer Crypto Services in Hong Kong

CMB International Securities (CMBI), the brokerage arm of China Merchants Bank, has received a virtual asset licence from the Securities and Futures Commission (SFC) in Hong Kong, the South China Morning Post reports. According to this report, CMBI got the licence on Monday. With it, it has become the first mainland broker to offer cryptocurrency

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Jack Ma-Backed Ant Group to Integrate Circle’s USDC Stablecoin, Report Says

Jack Ma-Backed Ant Group to Integrate Circle’s USDC Stablecoin, Report Says

Chinese fintech giant Ant Group is reportedly partnering with Circle Internet Group to integrate its USDC stablecoin into Ant’s blockchain platform. A Strategic Move Amid China’s Stablecoin Push Chinese fintech firm Ant Group is reportedly collaborating with global digital asset platform Circle Internet Group to incorporate its USDC stablecoin onto the Jack Ma–backed company’s blockchain

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Shenzhen warns citizens of investment scams using stablecoins

Shenzhen warns citizens of investment scams using stablecoins

Authorities in the Chinese city of Shenzhen have warned residents about fraudulent investment schemes tied to digital assets and stablecoins. In a statement published on July 7, the city’s Office of the Municipal Task Force for Preventing and Combating Illegal Financial Activities cautioned against deceptive platforms posing as legitimate crypto investment opportunities. According to the

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China’s Shenzhen Warns Public on Stablecoin Scams Masquerading as Investments

China’s Shenzhen Warns Public on Stablecoin Scams Masquerading as Investments

Authorities in Shenzhen have issued a warning to residents about fraudulent financial schemes posing as stablecoin investments, as rising interest in stablecoins attracts unscrupulous actors. Key Takeaways: Shenzhen warned residents about scams disguising themselves as stablecoin investments. Authorities said these schemes often involve illegal activities like fraud and money laundering. Hong Kong and the US

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Mainland China chipmaking capacity set to outpace Taiwan by 2030

Mainland China chipmaking capacity set to outpace Taiwan by 2030

Mainland China chipmaking capacity is accelerating, now poised to become the world’s leading semiconductor foundry hub by 2030, and overtaking Taiwan in total capacity, according to the latest projections from Yole Group. Chinese dominance in this field is fueled by the country’s push to manufacture its own tech as U.S. export restrictions continue to ramp

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