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A Chinese citizen confessed to laundering $73 million through cryptocurrenciesDaren Li, a 41-year-old #Chinese citizen, pleaded guilty to conspiracy to launder $73 million received from victims of cryptocurrency fraud. The money was converted into USDT stablecoins. Attorney General Nicole Argentieri said that Daren Li, who has dual citizenship in China, as well as in Saint Kitts and Nevis, used a network of shell companies. Lee acted with accomplices, corresponding with them through encrypted messaging services. In order to hide the sources of funds, Lee instructed accomplices to open accounts in US banks created on behalf of fictitious organizations and track international bank transfers with funds that came to these companies from deceived victims. This illegally obtained money was converted into USDT stablecoins, and then distributed to the cryptocurrency addresses of Lee and his accomplices. Despite the fact that Lee was outside the United States, this did not prevent law enforcement agencies from bringing him to justice, the prosecutor noted. The man was arrested on April 12 at Hartsfield-Jackson Atlanta International Airport. The court is to sentence the offender on March 3, 2025. He faces a maximum sentence of 20 years in prison. "We are cooperating with foreign law enforcement agencies to bring to law the crypto fraudsters who violate the rights of Americans, wherever the criminals are. In turn, investors should be skeptical of questionable investments and offers of quick enrichment in order to avoid financial losses," the prosecutor said. In October, a hacker from the US state of Indiana, who stole more than $37 million in cryptocurrencies from 600 clients, also pleaded guilty to fraud and money laundering. Earlier, the organizer of the Forcount crypto scheme, who stole $8.4 million from Spanish-speaking investors, confessed to fraud. #USInflationAboveTarget

A Chinese citizen confessed to laundering $73 million through cryptocurrencies

Daren Li, a 41-year-old #Chinese citizen, pleaded guilty to conspiracy to launder $73 million received from victims of cryptocurrency fraud. The money was converted into USDT stablecoins.

Attorney General Nicole Argentieri said that Daren Li, who has dual citizenship in China, as well as in Saint Kitts and Nevis, used a network of shell companies. Lee acted with accomplices, corresponding with them through encrypted messaging services. In order to hide the sources of funds, Lee instructed accomplices to open accounts in US banks created on behalf of fictitious organizations and track international bank transfers with funds that came to these companies from deceived victims. This illegally obtained money was converted into USDT stablecoins, and then distributed to the cryptocurrency addresses of Lee and his accomplices.

Despite the fact that Lee was outside the United States, this did not prevent law enforcement agencies from bringing him to justice, the prosecutor noted. The man was arrested on April 12 at Hartsfield-Jackson Atlanta International Airport. The court is to sentence the offender on March 3, 2025. He faces a maximum sentence of 20 years in prison.

"We are cooperating with foreign law enforcement agencies to bring to law the crypto fraudsters who violate the rights of Americans, wherever the criminals are. In turn, investors should be skeptical of questionable investments and offers of quick enrichment in order to avoid financial losses," the prosecutor said.

In October, a hacker from the US state of Indiana, who stole more than $37 million in cryptocurrencies from 600 clients, also pleaded guilty to fraud and money laundering. Earlier, the organizer of the Forcount crypto scheme, who stole $8.4 million from Spanish-speaking investors, confessed to fraud.
#USInflationAboveTarget
The U.S. Department of Justice (DoJ) has announced the unsealing of an indictment against Linwei (Leon) Ding, 38, a former software engineer at #Google , suspected of stealing Google #AI trade secrets for #Chinese companies.
The U.S. Department of Justice (DoJ) has announced the unsealing of an indictment against Linwei (Leon) Ding, 38, a former software engineer at #Google , suspected of stealing Google #AI trade secrets for #Chinese companies.
A recent #TechFlow survey reveals that Binance is the go-to exchange for #Chinese -speaking investors, with an impressive 96.72% choosing it as their platform of choice. Even more telling, 63.15% of respondents trust Binance to hold their main assets, showcasing its unrivaled dominance in the market. Key highlights: Demographics: The survey shows that 76.1% of respondents are male, with most between 26 and 35 years old. With 34.76% having 3-5 years of crypto experience, the community is both knowledgeable and growing fast. Market preferences: While OKX and Gate.io are notable, Binance stands out as the clear favorite. Interestingly, 69.61% of users aren’t deterred by regulatory concerns when choosing their preferred exchange. Binance continues to lead the way for crypto enthusiasts across the Chinese-speaking world! #Binance #Crypto #Blockchain
A recent #TechFlow survey reveals that Binance is the go-to exchange for #Chinese -speaking investors, with an impressive 96.72% choosing it as their platform of choice. Even more telling, 63.15% of respondents trust Binance to hold their main assets, showcasing its unrivaled dominance in the market.

Key highlights:

Demographics: The survey shows that 76.1% of respondents are male, with most between 26 and 35 years old. With 34.76% having 3-5 years of crypto experience, the community is both knowledgeable and growing fast.

Market preferences: While OKX and Gate.io are notable, Binance stands out as the clear favorite. Interestingly, 69.61% of users aren’t deterred by regulatory concerns when choosing their preferred exchange.

Binance continues to lead the way for crypto enthusiasts across the Chinese-speaking world!

#Binance #Crypto #Blockchain
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#solana✈️ don’t miss out the Latest Airdrop Basket $BSKT . It might not seem like a lot but it’s vesting over 30 days and soon might pump hard too. I was checking a new #MemeCoin projects’ Twitter Called #Moutai that I recently bought on Solana and found out that they made a new partnership with #Basket . They both seem like really nice project with solid teams specifically $Moutai they aim to penetrate and work on the #Chinese market and have experienced members. They have certain criteria on whether if you have been active in solana and/or hold certain NFT, @bsktfi @moutai_sol $SOL As always DYOR and be very careful with imposters, scammers, and fake sites/accounts. GL.
#solana✈️ don’t miss out the Latest Airdrop Basket $BSKT .

It might not seem like a lot but it’s vesting over 30 days and soon might pump hard too.

I was checking a new #MemeCoin projects’ Twitter Called #Moutai that I recently bought on Solana and found out that they made a new partnership with #Basket .

They both seem like really nice project with solid teams specifically $Moutai they aim to penetrate and work on the #Chinese market and have experienced members.

They have certain criteria on whether if you have been active in solana and/or hold certain NFT, @bsktfi @moutai_sol $SOL
As always DYOR and be very careful with imposters, scammers, and fake sites/accounts.

GL.
Top 3 Lesser-Known Memecoins to Watch in China 🧧🐉China, with its immense technological advancements and massive population, is a unique market for cryptocurrencies. While regulations can be stringent, the interest in innovative and novel digital assets remains strong. Here are three lesser-known memecoins that could potentially find a foothold in the Chinese crypto community. 1. DragonPup (DPUP) 🐉🐶 DragonPup is a new memecoin that combines the mythical allure of dragons with the viral nature of dog-themed coins. It aims to build a strong, community-driven project that appeals to both meme enthusiasts and serious investors. Why Watch DragonPup in China? - Cultural Resonance: The dragon is a powerful symbol in Chinese culture, and a coin themed around it could attract significant interest. - Community Initiatives: DragonPup focuses on community engagement and rewards, which can foster a loyal user base in China. - Cross-Border Partnerships: DragonPup is looking to establish partnerships with Chinese tech firms and influencers, enhancing its visibility and credibility. 2. PandaCoin (PANDA) 🐼 PandaCoin is inspired by one of China's most beloved animals, the panda. This memecoin aims to leverage the universal appeal of pandas to create a fun and engaging cryptocurrency experience. Why Watch PandaCoin in China? - Cultural Icon: The panda is a national treasure in China, and a coin named after it could naturally draw attention and interest. - Charity Focus: PandaCoin plans to give a portion of its proceeds to wildlife conservation efforts, including panda preservation, aligning with China's environmental initiatives. - NFT Integration: PandaCoin is developing an NFT marketplace centered around panda-themed digital art, potentially appealing to China’s growing interest in NFTs. 3. LuckyCat (LUCKY) 🐱🍀 LuckyCat draws inspiration from the traditional Chinese symbol of good fortune, the waving cat (Maneki-neko). This memecoin seeks to combine cultural elements with modern cryptocurrency trends to attract a diverse user base. Why Watch LuckyCat in China? - Symbol of Good Fortune: The LuckyCat is widely recognized as a symbol of luck and prosperity in Chinese culture, making it an attractive theme for a memecoin. - Community Engagement: LuckyCat focuses on building a vibrant community through social media challenges, giveaways, and interactive events. - Innovative Applications: LuckyCat aims to introduce DeFi services and a unique rewards system that can appeal to China's tech-savvy and investment-oriented population. Conclusion China's crypto market is unique, characterized by its rapid technological adoption and cultural richness. Memecoins like DragonPup, PandaCoin, and LuckyCat have the potential to resonate deeply with Chinese investors due to their cultural relevance, community focus, and innovative features. While investing in memecoins carries inherent risks, their novel themes and potential utility could capture the imagination of China’s crypto community. 🧧🚀 #China #ChinaCrypto #meme板块关注热点 #Chinese #SuperMacho 👇👇👇 $ETH {future}(ETHUSDT) 👇👇👇 $BNB {future}(BNBUSDT) 👇👇👇 $SOL {future}(SOLUSDT)

Top 3 Lesser-Known Memecoins to Watch in China 🧧🐉

China, with its immense technological advancements and massive population, is a unique market for cryptocurrencies. While regulations can be stringent, the interest in innovative and novel digital assets remains strong. Here are three lesser-known memecoins that could potentially find a foothold in the Chinese crypto community.

1. DragonPup (DPUP) 🐉🐶
DragonPup is a new memecoin that combines the mythical allure of dragons with the viral nature of dog-themed coins. It aims to build a strong, community-driven project that appeals to both meme enthusiasts and serious investors.

Why Watch DragonPup in China?
- Cultural Resonance: The dragon is a powerful symbol in Chinese culture, and a coin themed around it could attract significant interest.
- Community Initiatives: DragonPup focuses on community engagement and rewards, which can foster a loyal user base in China.
- Cross-Border Partnerships: DragonPup is looking to establish partnerships with Chinese tech firms and influencers, enhancing its visibility and credibility.

2. PandaCoin (PANDA) 🐼
PandaCoin is inspired by one of China's most beloved animals, the panda. This memecoin aims to leverage the universal appeal of pandas to create a fun and engaging cryptocurrency experience.

Why Watch PandaCoin in China?
- Cultural Icon: The panda is a national treasure in China, and a coin named after it could naturally draw attention and interest.
- Charity Focus: PandaCoin plans to give a portion of its proceeds to wildlife conservation efforts, including panda preservation, aligning with China's environmental initiatives.
- NFT Integration: PandaCoin is developing an NFT marketplace centered around panda-themed digital art, potentially appealing to China’s growing interest in NFTs.

3. LuckyCat (LUCKY) 🐱🍀
LuckyCat draws inspiration from the traditional Chinese symbol of good fortune, the waving cat (Maneki-neko). This memecoin seeks to combine cultural elements with modern cryptocurrency trends to attract a diverse user base.

Why Watch LuckyCat in China?
- Symbol of Good Fortune: The LuckyCat is widely recognized as a symbol of luck and prosperity in Chinese culture, making it an attractive theme for a memecoin.
- Community Engagement: LuckyCat focuses on building a vibrant community through social media challenges, giveaways, and interactive events.
- Innovative Applications: LuckyCat aims to introduce DeFi services and a unique rewards system that can appeal to China's tech-savvy and investment-oriented population.

Conclusion
China's crypto market is unique, characterized by its rapid technological adoption and cultural richness. Memecoins like DragonPup, PandaCoin, and LuckyCat have the potential to resonate deeply with Chinese investors due to their cultural relevance, community focus, and innovative features. While investing in memecoins carries inherent risks, their novel themes and potential utility could capture the imagination of China’s crypto community. 🧧🚀
#China #ChinaCrypto #meme板块关注热点 #Chinese #SuperMacho
👇👇👇
$ETH
👇👇👇
$BNB
👇👇👇
$SOL
NIHAO is just another meme coin BUT ... is showing just how strong and powerful is the crypto wave coming from #China . This is just the beginning of a much stronger wave once #Chinese #crypto community understand they don't need New understandsYork validation for leading the next #bullmarket
NIHAO is just another meme coin BUT ... is showing just how strong and powerful is the crypto wave coming from #China . This is just the beginning of a much stronger wave once #Chinese #crypto community understand they don't need New understandsYork validation for leading the next #bullmarket
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Group of #Chinese whales are pumping the shit out of this coin in #Binance   Dont trade at high price 🚨 Nfa dyor
Group of #Chinese whales are pumping the shit out of this coin in #Binance  

Dont trade at high price 🚨
Nfa dyor
First in humanoid robot history: XBot-L climbed the Great Wall of China XBot-L, developed by China-based Robot Era company, made history as the first humanoid robot to climb the Great Wall of China. XBot-L, which went viral with its videos, attracted great attention by expertly navigating the rugged and difficult roads of the Great Wall of China. XBot-L, developed by China-based Robot Era company, became the first humanoid robot to climb the Great Wall of China. The video shared by Robot Era on its YouTube channel includes XBot-L, which it claims is the first humanoid robot to climb the Great Wall of China. While XBot-L wasn't as fast as #Chinese company Unitree's H1 humanoid robot or as agile as Boston Dynamics' Atlas, it demonstrated remarkable ability to navigate the rough and uneven pavement of the Great Wall. He also mastered the stairs and was even seen doing tai-chi moves when he reached one of the wall's guard towers. Robot Era attributes these capabilities to its proprietary reinforcement learning (RL) technology, which enables XBOT-L to navigate unpredictable surfaces and effectively explore dimly lit areas. "Perceptual #RL algorithms help strengthen the robot's perception and decision-making capacity in the face of unfamiliar terrain. The robot can thus recognize complex road conditions and adjust its walking posture in time," the developer company said.
First in humanoid robot history: XBot-L climbed the Great Wall of China

XBot-L, developed by China-based Robot Era company, made history as the first humanoid robot to climb the Great Wall of China. XBot-L, which went viral with its videos, attracted great attention by expertly navigating the rugged and difficult roads of the Great Wall of China.

XBot-L, developed by China-based Robot Era company, became the first humanoid robot to climb the Great Wall of China.

The video shared by Robot Era on its YouTube channel includes XBot-L, which it claims is the first humanoid robot to climb the Great Wall of China.

While XBot-L wasn't as fast as #Chinese company Unitree's H1 humanoid robot or as agile as Boston Dynamics' Atlas, it demonstrated remarkable ability to navigate the rough and uneven pavement of the Great Wall.

He also mastered the stairs and was even seen doing tai-chi moves when he reached one of the wall's guard towers.

Robot Era attributes these capabilities to its proprietary reinforcement learning (RL) technology, which enables XBOT-L to navigate unpredictable surfaces and effectively explore dimly lit areas.

"Perceptual #RL algorithms help strengthen the robot's perception and decision-making capacity in the face of unfamiliar terrain. The robot can thus recognize complex road conditions and adjust its walking posture in time," the developer company said.
😱🇨🇳Is China Unbanning Crypto? Top Analyst Lists Altcoins to ‘Stack’ Before Massive Influx of Capital🇨🇳😱 Twitter is currently swarmed by alleged reports of China’s unbanning of crypto. Tech pioneer Kyle Chasse took to social media and revealed that Bybit has opened registrations for Chinese users. Previously, the third largest offshore exchange strictly restricted Chinese users from using the platform. Amid the alleged reports, analyst Dylan took to Crypto Banter channel and jumped on the news that China is effectively unbanning crypto, with several clues emerging recently. Specifically, Bybit, the third-largest offshore exchange, has now opened registration and authentication for users in China. Previously, Bybit strictly prohibited Chinese users from registering or using the platform. This news caused a surge in bullish sentiment. According to him, this development is extremely bullish, hinting that a market recently restricted from crypto trading is now entering the scene. This influx of capital could pump various cryptocurrencies, including altcoins. The analyst explained that the first cryptocurrency he is focusing on is $NEO . Recently, #NEO experienced a significant pump on April 8th and 9th, coinciding with some Chinese news, resulting in a 54% move off the 50-day moving average. Currently, NEO is trading below this average, but if it gains momentum, it could rise quickly. Next on his list is $VET and the first move for #VET looks to be about a 10% increase, followed by an 18% move. These are the current opportunities with two of his favorite #Chinese narrative tokens. Let’s see how this plays out. As an example, sometimes you have to wait days or even weeks for a token to move, like with #SUI or RENDER.
😱🇨🇳Is China Unbanning Crypto? Top Analyst Lists Altcoins to ‘Stack’ Before Massive Influx of Capital🇨🇳😱

Twitter is currently swarmed by alleged reports of China’s unbanning of crypto. Tech pioneer Kyle Chasse took to social media and revealed that Bybit has opened registrations for Chinese users. Previously, the third largest offshore exchange strictly restricted Chinese users from using the platform.

Amid the alleged reports, analyst Dylan took to Crypto Banter channel and jumped on the news that China is effectively unbanning crypto, with several clues emerging recently. Specifically, Bybit, the third-largest offshore exchange, has now opened registration and authentication for users in China. Previously, Bybit strictly prohibited Chinese users from registering or using the platform. This news caused a surge in bullish sentiment.

According to him, this development is extremely bullish, hinting that a market recently restricted from crypto trading is now entering the scene. This influx of capital could pump various cryptocurrencies, including altcoins.

The analyst explained that the first cryptocurrency he is focusing on is $NEO . Recently, #NEO experienced a significant pump on April 8th and 9th, coinciding with some Chinese news, resulting in a 54% move off the 50-day moving average. Currently, NEO is trading below this average, but if it gains momentum, it could rise quickly.

Next on his list is $VET and the first move for #VET looks to be about a 10% increase, followed by an 18% move. These are the current opportunities with two of his favorite #Chinese narrative tokens. Let’s see how this plays out. As an example, sometimes you have to wait days or even weeks for a token to move, like with #SUI or RENDER.
BYD Surpasses 6 Million Electric Vehicles Milestone. 🚘⚡⛽ BYD, the Chinese automotive giant, has achieved a groundbreaking milestone by producing an impressive 6 million electric vehicles. This accomplishment solidifies BYD's position as a leader in the electric car market. In 2022, BYD made a strategic move by transitioning away from internal combustion engines, focusing entirely on electric vehicles. This decision has proven to be a key factor in their success. BYD has taken the lead in electric vehicle patents, boasting an impressive 13,000 applications. Notably, approximately half of these patents are centered around the company's advancements in battery technologies, showcasing their commitment to pushing the boundaries of electric vehicle technology. While Tesla, a major competitor, achieved the 5 million milestone in September 2023 and aims for 6 million in early 2024, BYD has already surpassed this mark. The competition between these giants is shaping the future of electric cars. BYD's emphasis on battery technologies is evident in its patents, safeguarding their advancements in battery packs. This focus is crucial for the continued improvement and adoption of electric vehicles. In contrast, Tesla places a strong emphasis on software and connectivity in its patents, highlighting the significance of its vehicles' software infrastructure. This reflects the different approaches each company takes in driving innovation. BYD has recently made headlines with a colossal electric vehicle charging station in Shenzen, China, established in partnership with Shell. This station boasts 258 fast-charging points, making it the "world's largest." Equipped with solar panels on the roof, it produces up to 300,000 kilowatt hours of electricity, showcasing BYD's commitment to sustainable infrastructure. #BYD #China #Chinese #Tesla #ElectricCar
BYD Surpasses 6 Million Electric Vehicles Milestone. 🚘⚡⛽

BYD, the Chinese automotive giant, has achieved a groundbreaking milestone by producing an impressive 6 million electric vehicles. This accomplishment solidifies BYD's position as a leader in the electric car market.

In 2022, BYD made a strategic move by transitioning away from internal combustion engines, focusing entirely on electric vehicles. This decision has proven to be a key factor in their success.

BYD has taken the lead in electric vehicle patents, boasting an impressive 13,000 applications. Notably, approximately half of these patents are centered around the company's advancements in battery technologies, showcasing their commitment to pushing the boundaries of electric vehicle technology.

While Tesla, a major competitor, achieved the 5 million milestone in September 2023 and aims for 6 million in early 2024, BYD has already surpassed this mark. The competition between these giants is shaping the future of electric cars.

BYD's emphasis on battery technologies is evident in its patents, safeguarding their advancements in battery packs. This focus is crucial for the continued improvement and adoption of electric vehicles.

In contrast, Tesla places a strong emphasis on software and connectivity in its patents, highlighting the significance of its vehicles' software infrastructure. This reflects the different approaches each company takes in driving innovation.

BYD has recently made headlines with a colossal electric vehicle charging station in Shenzen, China, established in partnership with Shell. This station boasts 258 fast-charging points, making it the "world's largest." Equipped with solar panels on the roof, it produces up to 300,000 kilowatt hours of electricity, showcasing BYD's commitment to sustainable infrastructure.

#BYD #China #Chinese #Tesla #ElectricCar
#Chinese stocks are pumping , and cryto is about to pump stay tuned and invest wisely to make money
#Chinese stocks are pumping , and cryto is about to pump stay tuned and invest wisely to make money
The brand that Elon Musk once despised became an automobile giant CNN reminded me of Elon Musk's words about BYD, Tesla's strong rival. According to CNN, BYD, the #Chinese automobile manufacturer that Tesla's owner Elon Musk once made fun of, surpassed Tesla as the company selling the most electric vehicles in the world at the end of last year. The Warren Buffett-backed company and Tesla have been neck and neck ever since. Now BYD is challenging by introducing a new hybrid powertrain that it says can take it from New York to Miami without refueling, according to CNN's analysis. This figure means approximately 2,100 kilometers in one trip. According to The Wall Street Journal, leading global hybrid car manufacturers typically have ranges around 1,100 kilometers. According to CNN's analysis, #Tesla is the best-selling electric car in the United States, but is losing market share overseas to rivals that can produce vehicles at less cost. According to CNN, Tesla has not made any significant innovations in recent years and BYD is relatively cheap, allowing the Chinese brand to challenge Tesla. In his article, CNN questions how #BYD transformed from a small scrap producer into a global powerhouse. He recalls #ElonMusk saying in a 2011 interview with Bloomberg that he didn't take BYD seriously. CNN reported, "In that interview, Elon Musk responded to the question about BYD competing with Tesla with a smug laugh. "Have you seen their cars?" to the interviewer. he asked, and when the reporter pressed him, he said he thought BYD's product was "unattractive" and its technology "wasn't very strong.
The brand that Elon Musk once despised became an automobile giant
CNN reminded me of Elon Musk's words about BYD, Tesla's strong rival.
According to CNN, BYD, the #Chinese automobile manufacturer that Tesla's owner Elon Musk once made fun of, surpassed Tesla as the company selling the most electric vehicles in the world at the end of last year. The Warren Buffett-backed company and Tesla have been neck and neck ever since.
Now BYD is challenging by introducing a new hybrid powertrain that it says can take it from New York to Miami without refueling, according to CNN's analysis. This figure means approximately 2,100 kilometers in one trip. According to The Wall Street Journal, leading global hybrid car manufacturers typically have ranges around 1,100 kilometers.
According to CNN's analysis, #Tesla is the best-selling electric car in the United States, but is losing market share overseas to rivals that can produce vehicles at less cost. According to CNN, Tesla has not made any significant innovations in recent years and BYD is relatively cheap, allowing the Chinese brand to challenge Tesla.
In his article, CNN questions how #BYD transformed from a small scrap producer into a global powerhouse. He recalls #ElonMusk saying in a 2011 interview with Bloomberg that he didn't take BYD seriously.
CNN reported, "In that interview, Elon Musk responded to the question about BYD competing with Tesla with a smug laugh. "Have you seen their cars?" to the interviewer. he asked, and when the reporter pressed him, he said he thought BYD's product was "unattractive" and its technology "wasn't very strong.
Chinese Banks Reject Russian Payments, Boosting Use of Crypto#Chinese regional banks, once vital for processing #Russian payments, are now rejecting these transactions due to concerns about secondary sanctions. This has led to the rise of alternative methods such as cryptocurrency and barter to maintain trade between Russia and China. The smooth flow of Russian-Chinese trade is now disrupted as Chinese regional banks halt yuan-based transactions from Russia. This change, reported by Izvestiya, follows a pattern of banks pulling back due to fears of being hit by secondary sanctions. Ekaterina Kizevich from Atvira confirmed her bank notified her of a payment suspension in July. Russian firms are exploring options like using Russian bank branches in China, though this can increase costs by up to 5%. Barter trading is also being considered, though it’s not feasible for all goods. Cryptocurrency is emerging as a key solution, with stablecoins being used by Russian metal producers for transactions with Chinese suppliers since June. As new laws regulating crypto payments come into effect, their use in bypassing traditional financial systems and potential sanctions may become more prevalent. #BinanceLaunchpoolTON #MarketDownturn #LowestCPI2021

Chinese Banks Reject Russian Payments, Boosting Use of Crypto

#Chinese regional banks, once vital for processing #Russian payments, are now rejecting these transactions due to concerns about secondary sanctions.
This has led to the rise of alternative methods such as cryptocurrency and barter to maintain trade between Russia and China.
The smooth flow of Russian-Chinese trade is now disrupted as Chinese regional banks halt yuan-based transactions from Russia. This change, reported by Izvestiya, follows a pattern of banks pulling back due to fears of being hit by secondary sanctions. Ekaterina Kizevich from Atvira confirmed her bank notified her of a payment suspension in July.
Russian firms are exploring options like using Russian bank branches in China, though this can increase costs by up to 5%. Barter trading is also being considered, though it’s not feasible for all goods.
Cryptocurrency is emerging as a key solution, with stablecoins being used by Russian metal producers for transactions with Chinese suppliers since June. As new laws regulating crypto payments come into effect, their use in bypassing traditional financial systems and potential sanctions may become more prevalent.

#BinanceLaunchpoolTON #MarketDownturn
#LowestCPI2021
#China is going to change the game by launching his own #Chinese #Crypto #ETFs very soon. The Emergence of Chinese Crypto ETFs A Game Changer for the Global Economy In recent years, the financial world has witnessed a significant transformation, with the emergence of crypto currencies as a new asset class capturing investors' imaginations globally. One of the latest innovations in this space is the introduction of cryptocurrency Exchange-Traded Funds (ETFs), especially those emerging from China, the world's second-largest economy. This development could potentially reshape not only investment portfolios but also the broader economic landscape worldwide.
#China is going to change the game by launching his own #Chinese #Crypto #ETFs very soon.

The Emergence of Chinese Crypto ETFs A Game Changer for the Global Economy

In recent years, the financial world has witnessed a significant transformation, with the emergence of crypto currencies as a new asset class capturing investors' imaginations globally. One of the latest innovations in this space is the introduction of cryptocurrency Exchange-Traded Funds (ETFs), especially those emerging from China, the world's second-largest economy. This development could potentially reshape not only investment portfolios but also the broader economic landscape worldwide.
#Chinese ‘Criminals Used Digital Yuan to Launder Money’ – Prosecutors Chinese law enforcement authorities claim to have dismantled a criminal gang involved in money laundering using digital yuan wallets. Operating in the Yuecheng District of Shaoxing, Zhejiang Province, the gang was reportedly exposed after a bank employee noticed unusual transaction activity on a merchant's e-CNY #Wallet and alerted the police. Seven individuals were arrested on fraud-related charges. The gang allegedly exploited the privacy features of digital yuan transactions, making it challenging for law enforcement to investigate the laundered funds. The criminals reportedly deceived hotel owners in various cities to accumulate digital yuan tokens, claiming they could receive an 8% commission by converting the tokens to cash. The police froze over $3,370 in digital yuan wallets and bank accounts, preventing the laundering of approximately $70,000. Authorities have warned the public against participating in private digital yuan exchange transactions for profit, emphasizing the fraudulent nature of such activities. This incident follows earlier warnings about the rise of digital yuan-related crime in China, including recent convictions related to the exploitation of #CBDC exchange functions on an #ATM . Source - cryptonews.com #CryptoNews
#Chinese ‘Criminals Used Digital Yuan to Launder Money’ – Prosecutors

Chinese law enforcement authorities claim to have dismantled a criminal gang involved in money laundering using digital yuan wallets. Operating in the Yuecheng District of Shaoxing, Zhejiang Province, the gang was reportedly exposed after a bank employee noticed unusual transaction activity on a merchant's e-CNY #Wallet and alerted the police. Seven individuals were arrested on fraud-related charges. The gang allegedly exploited the privacy features of digital yuan transactions, making it challenging for law enforcement to investigate the laundered funds. The criminals reportedly deceived hotel owners in various cities to accumulate digital yuan tokens, claiming they could receive an 8% commission by converting the tokens to cash. The police froze over $3,370 in digital yuan wallets and bank accounts, preventing the laundering of approximately $70,000. Authorities have warned the public against participating in private digital yuan exchange transactions for profit, emphasizing the fraudulent nature of such activities. This incident follows earlier warnings about the rise of digital yuan-related crime in China, including recent convictions related to the exploitation of #CBDC exchange functions on an #ATM .

Source - cryptonews.com

#CryptoNews
Crypto & #BitcoinPrice2023 News US stock futures were stable Tuesday as investors assessed market prospects following recent gains. #Chinese stocks gained amid reports Beijing is considering special measures to support the market. Bitcoin extended declines below the $40,000 mark, taking the month-to-date losses to 8%. #EuropeanUnion stocks were in defensive mode, with the Euro Stoxx 50 slipping 0.3%. Germany's DAX 40 index was little changed and France's CAC 40 retreated 0.2%. In #AsianCrypto , Hong Kong's Hang Seng rallied 2.6% and the Shanghai Composite rose 0.5%. Japan's Nikkei 225 was almost flat at 36,517 and India's Nifty 50 dropped 1.5%. In the crypto market, bitcoin slid 1.7% to $38,870, taking losses in January to more than 8%. Ether slid almost 4% to $2,221. The Dollar Index, which tracks the greenback against a basket of currencies, moved in tight ranges. Ten-year Treasury yields were little changed at 4.13%. US crude oil declined 0.6% to $74.28 a barrel. The world’s largest cryptocurrency broke beneath $40,000 yesterday, and many retail investors believe it is heading even lower by year-end, according to a #deutschebank $ Research report. $BTC $ETH $BNB
Crypto & #BitcoinPrice2023 News

US stock futures were stable Tuesday as investors assessed market prospects following recent gains.

#Chinese stocks gained amid reports Beijing is considering special measures to support the market.

Bitcoin extended declines below the $40,000 mark, taking the month-to-date losses to 8%.

#EuropeanUnion stocks were in defensive mode, with the Euro Stoxx 50 slipping 0.3%. Germany's DAX 40 index was little changed and France's CAC 40 retreated 0.2%.

In #AsianCrypto , Hong Kong's Hang Seng rallied 2.6% and the Shanghai Composite rose 0.5%. Japan's Nikkei 225 was almost flat at 36,517 and India's Nifty 50 dropped 1.5%.

In the crypto market, bitcoin slid 1.7% to $38,870, taking losses in January to more than 8%. Ether slid almost 4% to $2,221.

The Dollar Index, which tracks the greenback against a basket of currencies, moved in tight ranges.

Ten-year Treasury yields were little changed at 4.13%. US crude oil declined 0.6% to $74.28 a barrel.

The world’s largest cryptocurrency broke beneath $40,000 yesterday, and many retail investors believe it is heading even lower by year-end, according to a #deutschebank $ Research report.

$BTC $ETH $BNB
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