shanghai

Shanghai officially issued the "Several Measures to Support the Development of the Game and E-sports Industry in Shanghai" (referred to as "Game Shanghai Ten Measures"), which points out that it will support game and e-sports companies in the research and application of technologies such as AI large models, blockchain, big data, the Internet of Things, cloud computing, as well as terminal devices and game development engines, 3D modeling software, and other basic game development tools.Actively promote the application of blockchain technology in areas such as copyright registration, rights protection, transactions, and settlement, and encourage game companies to establish partnerships with electronic device manufacturers to explore more possibilities for multi-terminal development of games.

According to Jinshi reports, the Shenzhen Component Index fell by more than 2%, the ChiNext Index dropped by 2.8%, and the Shanghai Composite Index decreased by 1.12%. More than 4,600 stocks in the entire market declined.

According to Jinshi Data, the Shanghai Stock Exchange has accepted the IPO application of Yushu Technology Co., Ltd. for the Sci-Tech Innovation Board, with a proposed financing amount of 4.202 billion yuan.

Solana has reached a partnership with Alibaba's Shanghai Hongqiao Ali Center to jointly establish the Solana Shanghai Builder Station. This site is supported by relevant government units in the Minhang District of Shanghai and is the first Builder Station set up by Solana in the Chinese-speaking market. It is also a co-creation space for developers centered around the international public chain ecosystem.The platform is positioned as a long-term infrastructure node for technological development, aiming to provide developers with technical co-creation, industry connections, and international links, while offering full-chain incubation support around Layer 1 underlying technology research, Web3 application development, and more.

The Hong Kong Monetary Authority, the Shanghai Municipal Data Bureau, and the National Blockchain Technology Innovation Center of China today jointly signed the "Memorandum of Cooperation on Digitalization of Freight Trade and Finance between Shanghai and Hong Kong" to further promote in-depth cooperation between Shanghai and Hong Kong in the fields of digital empowerment of freight trade and finance, leveraging Hong Kong's unique advantages as a "super connector" and "super value creator" to facilitate internal and external connectivity, and supporting Shanghai in connecting with the international data ecosystem through Hong Kong.According to the "Memorandum of Cooperation," the Hong Kong Monetary Authority, the Shanghai Municipal Data Bureau, and the National Innovation Center will jointly research innovative cooperation in digital technology and applications, promoting innovation in the application of digital technology in freight trade, finance, and other fields. The parties will jointly explore the use of digital technology to build a "cross-border platform," carry out cross-border financial cooperation in the Ensemble project, study how to apply electronic bills of lading, and promote integration with commercial data connectivity and CargoX, using freight and trade data to drive trade financing between the two regions.

According to the Huaxia Times, the People's Court of Jing'an District in Shanghai recently heard a dispute case regarding virtual currency investment. Investor Ms. Wu invested 1.05 million yuan to purchase USDT under the inducement of a live-streaming host, but later was unable to withdraw her funds due to the trading platform being inaccessible.Both the first and second instance of the court dismissed Ms. Wu's claims, determining that virtual currency does not have the same legal status as legal tender, and that related trading activities are considered illegal financial activities, violating public order and good morals, thus constituting invalid civil actions, with losses to be borne by the investor herself. This case echoes the notice issued on February 6 by the People's Bank of China and eight other departments regarding "further prevention and handling of risks related to virtual currencies," reaffirming China's prohibitive policy stance on virtual currencies.

The Shanghai headquarters of the People's Bank of China held a press conference for the first quarter of 2026, introducing the financial operation situation of Shanghai in 2025 and answering questions from reporters. Zhou Peng, deputy director of the Monetary Credit Research Department of the Shanghai headquarters, stated that the People's Bank of China has made a series of new progress in promoting the construction of Shanghai as an international financial center and has implemented the refinancing policy for blockchain letters of credit in the shipping trade zone.The international operation center for digital renminbi has officially started operations in Shanghai, and the pilot program for the multilateral central bank digital currency bridge is also being advanced. Efforts are being made to enable the function of using bank cards and digital renminbi hard wallets to pass through the gates across the entire Shanghai metro system, fully supporting the preparation and operation of the International Monetary Fund (IMF) Shanghai center.

The People's Procuratorate of Pudong New District, Shanghai, disclosed a case involving an illegal industry chain that queries and sells citizens' location information. The individuals involved settled through the exchange of virtual currency, profiting illegally from it.Judicial appraisal shows that the illegally queried location information amounts to over 1,000 entries, with a total illegal profit of approximately 1.17 million yuan. Currently, the related individuals have been sentenced to fixed-term imprisonment ranging from three years and six months to one year, with fines ranging from 500,000 yuan to 40,000 yuan.

The People's Procuratorate of Pudong New District, Shanghai, has disclosed a case involving an illegal industry chain for querying and selling citizens' location information.The individuals involved settled through the exchange of virtual currency, profiting illegally. Judicial identification shows that over 1,000 pieces of illegally queried location information were involved, with a total illegal profit amounting to approximately 1.17 million yuan. Currently, the relevant personnel have been sentenced to fixed-term imprisonment ranging from three years and six months to one year, with fines ranging from 500,000 yuan to 40,000 yuan.

The A-share index continues to strengthen, with the Shanghai Composite Index rising nearly 0.6% during the session, breaking through 4100 points, reaching a new high since the end of July 2015.

Guided by the Chinese Criminal Law Research Association and the Shanghai High Court, the Shanghai Second Intermediate People's Court and the Law School of Renmin University of China jointly hosted a seminar on criminal trials, focusing on the theme of "Legal Uniformity in Cases Involving Virtual Currency Crimes." The discussion content is summarized as follows:The determination of "subjective knowledge" in virtual currency money laundering crimes should be assessed comprehensively to prevent objective attribution of guilt.The identification of the types of acts and standards for completion in virtual currency money laundering crimes involves: first, accurately grasping the essence of the crime, which is "concealing and disguising the source and nature of criminal proceeds and their profits"; second, the acts of concealing and disguising criminal proceeds and their profits, as stipulated in the elements of the money laundering crime, constitute the completion of the crime; third, strictly combating money laundering crimes in accordance with the law to resolutely safeguard national financial security.The determination of illegal operation crimes involving virtual currency indicates that if the behavior does not possess characteristics of business operations and merely involves personal holding or trading of currency, it is generally not recognized as illegal operation. However, if the individual is aware that others are illegally buying or selling or indirectly trading foreign exchange and still provides assistance through the exchange of virtual currency, and the circumstances are serious, they should be recognized as an accomplice in illegal operation crimes.

The Shanghai Municipal Justice Bureau has issued a reminder that recently, many places across the country have seen a new tactic in telecom network fraud involving counterfeit supermarket "tasting cards" as bait. Related groups are luring individuals by distributing fake "tasting cards" offline, enticing them to scan a code to join so-called "benefit groups," and then carrying out scams such as transferring money for rebates.Police reports indicate that multiple cases have been solved in Shandong and other areas, with several suspects arrested. Investigations show that criminals use overseas communication software to contact their superiors and settle criminal proceeds through virtual currencies, making their activities highly concealed. The Shanghai Municipal Justice Bureau urges the public to enhance their awareness of prevention, not to scan unknown QR codes, and not to disclose personal information to unfamiliar platforms to avoid financial losses.

According to the disclosure from the Shanghai Procuratorial WeChat official account, the Shanghai Baoshan District Procuratorate, in handling a case of occupational crime, successfully initiated supervision on 24 cases involving 24 individuals through a penetrating review of funds, tracking the flow of funds. Prosecutors stated that the number of accounts involved in the underground money laundering gang was numerous, making the case very challenging, with a massive scale of financial transactions and a money laundering amount reaching 1.8 billion yuan. Ultimately, through pursuit and prosecution, they cracked down on money laundering activities that utilized virtual currency for cross-border transfer of illicit funds.In response to new and complex money laundering crimes such as underground money houses and virtual currencies, the Baoshan District Procuratorate guided public security agencies to penetrate fund accounts, clarify the sources and destinations of funds, secure electronic data, and make precise and effective accusations, fully ensuring the quality and effectiveness of the investigation and handling of money laundering cases.

According to Sina Finance, at the 8th CCF China Blockchain Technology Conference and the 2nd Global Blockchain Industry Summit, the "Blockchain Innovation Achievements Industrialization (Shanghai) Service Center" was inaugurated, and Shanghai Xujiahui Mall (Group) Co., Ltd. signed residency agreements with 8 blockchain companies.

According to the official WeChat account of the Shanghai headquarters of the People's Bank of China, recent illegal activities have been reported where criminals impersonate "digital yuan promotion" and "recruiting promoters" to lure the public into group chats and conduct "exams" and "courses" for brainwashing, implementing pyramid scheme fraud. The central bank reiterated that there is no speculation space for digital yuan, no commission subsidies exist, and no promoter exams have been set up.The public should be vigilant against inducements such as "high returns" and "referring others," avoid clicking on unknown links, and refrain from joining unfamiliar groups to prevent financial losses. If fraud is encountered, it should be reported to the police immediately.

According to Jinshi reports, in the context of tight liquidity in the exchanges, expectations for a Federal Reserve interest rate cut have once again intensified, and the price of Shanghai silver continues to reach new highs. The focus of the market going forward will include relevant policy trends and market reactions.

According to the "Science and Technology Innovation Board Daily," at the 2025 Global Digital Business Conference, the cooperation between Shanghai and Xinjiang announced the results of collaboration on digital identity and mutual recognition of electronic certification documents, the launch of a joint innovation consortium for mineral data export standards, the unveiling of the Shanghai Blockchain Innovation Fund, and the launch of blockchain letter of credit application scenarios.At the same time, Shanghai Data Group and the National Data Development Research Institute jointly compiled and released the "White Paper on the Construction and Operation of Industry Trusted Data Spaces Based on Unified Data Infrastructure."

According to the Financial Times public account, Wang Jiang, the deputy director of the office of the Central Financial Committee responsible for daily work and the deputy secretary of the Central Financial Work Committee, published a signed article titled "Accelerating the Construction of a Financial Power." In it, he pointed out: Support Shanghai in using technologies such as blockchain, big data, and artificial intelligence to strengthen proactive research and timely assessment of financial risks, promote high-quality development of digital finance, and steadily advance the research and application of digital currency.

ChainCatcher news reports that, according to market sources, a virtual currency fraud case has been disclosed by the court. An 8-member fraud gang colluded with a virtual currency investment platform, attracting victims by posting low-price exchange information on social media, and impersonating "crypto trading experts" to send forged profit screenshots to gain trust.The gang colluded with the virtual currency investment platform, taking commissions based on the amount of client investment losses, and then carried out a carefully planned scam. Some members posted low-price virtual currency exchange posts on social media and other platforms to "cast a net." Once someone took the bait, other members approached them as "investment experts," befriending them and sending forged profit screenshots to lower their guard.In the end, they induced victims to invest with high leverage, and through malicious market manipulation, caused them to "liquidate," with the funds flowing into the pockets of the fraudsters. In March 2025, the Yangpu District Prosecut

ChainCatcher news, according to the Shanghai Procuratorate's official WeChat account, the Shanghai Public Security Bureau has arrested a fraud gang disguised as so-called "cryptocurrency masters." This gang colluded in advance with relevant virtual currency investment and financial management platforms, agreeing on profit-sharing conditions—charging commissions based on the amount of investment losses incurred by clients on the platform.Driven by profit, they launched a meticulously planned scam operation. Some members were responsible for widely posting low-cost virtual currency exchange advertisements on social media, forums, and other platforms, casting a huge net and waiting for those eager for wealth to take the bait.Once someone took the bait, another group of members would quickly strike, posing as "investment experts" to befriend the victims. They would first establish a rapport with the victims, then send forged investment profit screenshots, with seemingly real profit data acting as enticing bait, gradually lowering the victims' guard and gaining