beijing

According to official social media news, Huobi HTX will hold a special live event "Huobi Karaoke King - Spring Festival Golden Melody Battle Night" on February 13 at 20:00, inviting He Youqian, the champion of the Beijing division of "The Voice of China," the Huobi team, and several crypto KOLs to perform. During the live broadcast, Huobi HTX spokesperson Molly will also draw Spring Festival gift boxes for users.

The President of the United States, Donald Trump, will make a statement on Thursday at 7 PM (Friday at 8 AM Beijing time).

According to Caixin, 46-year-old Chinese national Su Jingliang from Beijing was sentenced to 46 months in prison for participating in a "pig butchering" scam that laundered over $36.9 million (approximately 256 million yuan). He was also ordered to pay up to $26.87 million (approximately 187 million yuan) in compensation.The United States previously dismantled a transnational fraud and money laundering gang that built trust with victims through social media or dating apps, subsequently guiding them into a fake cryptocurrency trading platform for so-called "investments." The funds of 174 American victims flowed into the accounts of 74 shell companies registered in the U.S., and once the funds were received, they were converted into Tether (USDT). It is reported that in this "pig butchering" scam chain, Su Jingliang played a key role as the "accountant," communicating with employees of Deltec Bank via the encrypted messaging tool Telegram, receiving funds from the U.S. front shell companies, and directing the bank to quickly convert the incoming dollar assets into stablecoin USDT, which were then specifically sent to virtual currency wallets starting with "TRteo." The funds from these wallets ultimately flowed to scam dens in Southeast Asia.

The Vice President of the Beijing Academy of Social Sciences and Executive Director of the China Finance Society, Fan Wenzhong, wrote an article in the Hong Kong Wen Wei Po titled "Steadily Promoting the Coordinated Innovation of Digital Renminbi and Hong Kong Stablecoins," in which he pointed out: Currently, the cross-border use of digital renminbi mainly relies on the internal regulations and pilot policies of the People's Bank of China, lacking clear legal authorization. It is suggested to add provisions in the revision of the "People's Bank of China Law" to clarify the cross-border payment functions of digital renminbi and the legality of its interconnection with compliant overseas digital currency systems, while striving to clarify the "special regulatory requirements and preferential policies for stablecoin issuing institutions that exchange with the mainland central bank's digital currency" in the implementation rules of Hong Kong's "Stablecoin Ordinance," forming a synergistic institutional force.

According to the Hong Kong Wen Wei Po, Fan Wenzhong, Vice President of the Chinese Academy of Social Sciences in Beijing and Executive Director of the China Finance Society, wrote an article titled "Steadily Promoting the Coordinated Innovation of Digital Renminbi and Hong Kong Stablecoins," in which he pointed out: Central Bank Digital Currencies (CBDCs), represented by the digital renminbi (e-CNY), and new payment tools represented by compliant stablecoins from Hong Kong are reshaping the new paradigm of cross-border payments through different paths.Through the coordination of digital renminbi and Hong Kong stablecoins, the cross-border coverage of digital renminbi can be rapidly expanded, enhancing the stickiness of the renminbi in real trade and promoting the internationalization of the renminbi; strengthening Hong Kong's status as an international financial center and creating the world's first "CBDC + compliant stablecoin" integration hub. The cross-border payment solution for the dual currency does not pursue complete unification of the underlying ledgers of digital renminbi and stablecoins, but instead achieves secure exchange and circulation of both at the value level by establishing regulated and standardized interaction interfaces.

According to the Beijing Legal Network WeChat public account, the Beijing High People's Court has released 5 typical cases of punishing telecom network fraud in accordance with the law, including a cross-border telecom network fraud case that utilized virtual currency for investment. The defendant committed fraud in Chaoyang District, Beijing, by using overseas chat software to invite others to purchase virtual currency and invest in designated platforms, and transferred the fraud proceeds through virtual currency.It was found that the gang defrauded a total amount of over 900,000 US dollars (equivalent to over 5 million RMB). The court accurately determined the amount of fraud based on objective evidence such as the salary performance table of the involved company, sentencing Liu to twelve years in prison for fraud and imposing a fine.

Beijing Business Today published an article titled "Speculative Trading on the Rise, People's Bank of China Strikes Again at Virtual Currencies and Defines Stablecoins for the First Time," which points out: The People's Bank of China recently held a coordination meeting to combat speculative trading in virtual currencies, where financial regulatory authorities defined stablecoins for the first time, clarifying that stablecoins are a form of virtual currency that currently cannot effectively meet requirements for customer identity verification, anti-money laundering, and other aspects. There is a risk of being used for illegal activities such as money laundering, fundraising fraud, and illegal cross-border fund transfers, and it reiterated the need to continue combating illegal financial activities related to virtual currencies.However, industry insiders believe that this meeting will not affect the relevant layout of stablecoins in Hong Kong, but speculation on stablecoins in the mainland will be severely cracked down on. As a result, the subsequent layout of stablecoins by relevant entities within the mainland in Hong Kong will have its imaginative space significantly reduced, more limited to practical application scenarios such as cross-border payments and supply chain finance.

Beijing Business Daily Financial Investigation Team published an article titled "The Surge of Cryptocurrency Speculators into Social Platforms," which points out that the chaos of cryptocurrency speculation has infiltrated platforms such as Xiaohongshu, Taobao, and Xianyu. What appears to be lifestyle sharing, newcomer benefits, or product links is, in fact, a diversion for cryptocurrency speculation, brewing a carefully woven hunting trap for ordinary people. From the perspective of diversion methods, it can be roughly divided into several situations, such as creating topics to build IP and setting up advertising links on platforms. Industry insiders believe that a "counter-hunting" battle against the chaos of cryptocurrency speculation has also begun, but to completely end this game, a joint effort from regulators, platforms, and users is needed.Not long ago, Pan Gongsheng, the governor of the People's Bank of China, publicly stated that efforts to crack down on the operation and speculation of virtual currencies within the country would continue. Since 2017, the People's Bank of China, together with relevant departments, has issued multiple policy documents to prevent and address the risks of domestic virtual currency trading and speculation, and these policy documents remain effective. In the next step, the People's Bank of China will continue to work with law enforcement agencies to combat the operation and speculation of virtual currencies within the country, maintain economic and financial order, and closely monitor and dynamically assess the development of overseas stablecoin values.

ChainCatcher news, according to Securities Times, Beijing has released the "Opinions on Supporting Mergers and Acquisitions to Promote the High-Quality Development of Listed Companies." The "Opinions" encourage and guide more resource elements to gather towards new productive forces.The "Opinions" encourage listed companies to carry out mergers and acquisitions around strategic emerging industries, future industries, etc., accelerate the development of artificial intelligence, medical health, integrated circuits, intelligent connected vehicles, cultural industries, technology services, embodied intelligent robots, new energy, synthetic biology, quantum information, blockchain and advanced computing, low-altitude technology, commercial aerospace, 6G, and other key industrial fields in Beijing, promote the upgrading of service industries, advanced manufacturing, and agriculture, and build a modern industrial system for the capital.

ChainCatcher news, the Beijing Municipal People's Procuratorate released the "Typical Cases of High-Quality and Efficient Performance of Financial Prosecution," disclosing a case of illegal foreign exchange operation using virtual currency as a trading medium.The case shows that Lin and four others used multiple bank cards to receive RMB funds transferred by clients. Through multiple Tether (USDT) trading platform accounts that they actually controlled, they converted RMB into USDT and completed cross-border fund transfers, effectively engaging in disguised foreign exchange trading. The total amount of illegal operations by this gang reached over 1.182 billion RMB. On March 21, 2025, the Haidian District People's Court of Beijing made a first-instance judgment, sentencing the five defendants to fixed-term imprisonment ranging from 2 to 4 years for the crime of illegal operation, along with corresponding fines. Currently, all defendants have pleaded guilty and accepted the charges, and no appeals have been filed; the judgment has officially taken effect.

ChainCatcher news, according to a report by China Central Television, Beijing police recently discovered a strange transaction during their work. The transaction involved an image of a counterfeit currency template, and the police determined that the buyer was likely involved in producing counterfeit money. Based on this clue, the police followed the trail and arrested 15 criminal suspects, dismantled 8 counterfeiting dens, and seized more than 2.5 million yuan in counterfeit currency.It was reported that the suspects in this case were all born after 2000, and some were even minors. They first learned counterfeiting techniques through overseas software, then used printers to produce counterfeit money, and finally sold it using virtual currency for settlement. The suspects not only produced the counterfeit money themselves but also taught counterfeiting techniques to others for profit.

ChainCatcher message, following the official operation of the Digital Renminbi International Operation Center, the People's Bank of China announced the establishment of a Digital Renminbi Operation Management Center in Beijing, responsible for building and operating the central bank's digital renminbi system and other core infrastructures, coordinating various market institutions to jointly build an open, inclusive, secure, and efficient digital renminbi ecosystem, comprehensively promoting the development of digital renminbi business, and serving the innovation of the currency and payment system as well as the strategy of a strong financial nation.

ChainCatcher news, according to Global Times, on October 26, the China-U.S. economic and trade teams concluded two days of consultations in Kuala Lumpur, the capital of Malaysia. Some media reported that this was the fifth face-to-face consultation between the China-U.S. economic and trade teams since May of this year. After the talks, Beisent stated in an interview with U.S. media that after the two-day discussions in Kuala Lumpur, both sides reached a "very substantive framework agreement," and the U.S. side "no longer considers" imposing a 100% tariff on China.

ChainCatcher message, the $ASTER contract has been launched on Aster Pro and will go live on Binance Alpha at 16:00 Beijing time.

ChainCatcher news, according to Zhito Finance, the Beijing Municipal Government Information Office held a press conference on the "Several Measures for Establishing a Growth Mechanism for Future Industry Investment in Beijing to Promote Future Industry Development."Gu Jinxu, a member of the Party Leadership Group and Deputy Director of the Beijing Municipal Bureau of Economy and Information Technology, introduced that the city's cumulative computing power scale exceeds 33,000 P, relying on blockchain applications to support the construction of computing power infrastructure. Reward policies have been announced to support the first registration, first transaction, first entry into the table, and first opening of data elements. The AI data set trading at the Beijing Data Institute has become the largest business segment in the market, and the Beijing AI Data Training Base has enhanced data application development capabilities, upgrading to Data Sandbox 3.0, forming an integrated service capability of "data computing model application."

ChainCatcher News, the Beijing Municipal Government Information Office held a press conference on the "Several Measures for Establishing a Growth Mechanism for Future Industry Investment in Beijing to Promote the Development of Future Industries."Gu Jinxu, a member of the Party Leadership Group and Deputy Director of the Beijing Municipal Bureau of Economy and Information Technology, introduced that the city's cumulative computing power scale exceeds 33,000 P, relying on blockchain applications to support the construction of computing power infrastructure. Reward policies have been released to support the first registration, first transaction, first entry into the table, and first opening of data elements. The AI data set trading at the Beijing Data Institute has become the largest business segment in the market, and the Beijing AI Data Training Base has enhanced data application development capabilities, upgrading to version 3 of the data sandbox, forming an integrated service capability of "data computing model application."

ChainCatcher news, Song Shijie, the largest off-market financing boss in Beijing, China, who owes 22 million yuan in penalties to the treasury, has handed over nearly 200 million yuan in asset forfeiture settlement to the UK and the US.The UK's National Crime Agency has seized his mansion, apartment, and bank accounts in London, valued at a total of 16.7 million pounds, approximately 161 million yuan, determining that the funds originated from illegal securities trading within China and money laundering in the UK. Song Shijie is also involved in a cryptocurrency scam, with three of his Binance accounts frozen, containing about 10 million dollars in crypto assets. According to a document from a court in Orlando, Florida, at the end of March, he has opted to forfeit claims to avoid criminal charges.

ChainCatcher message, according to the schedule released by the White House, European leaders will arrive at the White House at 12 PM on Monday (12 AM

ChainCatcher news, the Federal Reserve will announce its interest rate decision at 02:00 Beijing time on Thursday, followed by a press conference by Powell at 02:30. This meeting is expected to maintain the status quo, with two board members possibly "defecting." The market is focused on the timing of the resumption of rate cuts.In addition, the U.S. "small non-farm" and second quarter GDP data will be released tonight. (Jin Shi)

ChainCatcher News: The Haidian District Local Financial Supervision Administration of Beijing has issued a notice stating that recently, digital currencies represented by stablecoins have attracted widespread attention in the market. Some illegal organizations use terms like "financial innovation" and "digital assets" as gimmicks, taking advantage of the public's lack of understanding of stablecoins and similar concepts to raise funds through the issuance of so-called "virtual currencies," "virtual assets," and "digital assets," inducing the public to participate in trading speculation, disrupting the economic and financial order, and breeding illegal activities such as illegal fundraising, gambling, fraud, pyramid schemes, and money laundering, which seriously endanger the property safety of the public.The Haidian District Local Financial Supervision Administration of Beijing reminds you: No organization may raise funds from the public without the legal permission of the national financial management department. Some illegal organizations are speculating on new concepts like stablecoins, publicly promoting false information, and raising public funds, leading to various illegal activities such as illegal fundraising. The "Regulations on Preventing and Dealing with Illegal Fundraising" stipulate that the state prohibits any form of illegal fundraising, and any losses incurred by participants in illegal fundraising shall be borne by the participants themselves.