CHINA CRYPTOCURRENCY REGULATION
UPI sees Diwali boom; AI cracks Captcha
Diwali spending fuelled a surge in UPI transactions, with both payment volumes and values rising. This and more in today’s ETtech Top 5.
Stable institutions, steady pursuit of reforms will steer India to 2047 goal: Jean-Claude Trichet
India's journey to becoming a developed nation by 2047 hinges on institutional stability and sustained economic reforms. Former European Central Bank president Jean-Claude Trichet emphasizes the importance of resilient democratic institutions. He cautions against the risks posed by global over-indebtedness and market corrections. Trichet believes AI will bring challenges and benefits in the long run but highlights the need for global regulations.
China's AI agents can lie and scheme - just like their US rivals
Reuters examined more than 200 documents, ranging from university research papers to technical reports, and identified at least 20 studies or evaluations since 2025 describing cases where agents displayed behaviour such as deception, replication and challenging boundaries that AI experts described as building blocks for a breakout and which could become harder for humans to control as systems advance.
Redefining global finance: Emergence of alternative payment infrastructure
Chairman of PSB Bank Petr Fradkov, in an interview with RBC, discusses what is happening in one of the most closed sectors of the economy, cross-border payments, and how the A7 international payment system operates, which essentially lacks international payments.
Anti-betting law fails. A lesson for crypto?
India’s online betting ban has failed to eliminate illegal gambling, with offshore networks continuing operations despite strict laws. The article contrasts this with cryptocurrency, where authorities have largely avoided comprehensive regulation. Both approaches expose gaps between technology and governance.
Bitcoin retreats from eight-month high after dizzying 13% rally
Bitcoin pulled back to about $85,500 after a surge of 13% in four days, supported by broader risk-asset gains, ETF inflows, bullish options positioning, and corporate buying. Analysts debate whether momentum reflects renewed conviction or short covering. Despite improved sentiment, elevated oil prices, Treasury yields, and competition from AI investments remain significant headwinds.
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China debates how to handle criminal crypto cache
Money involved in crypto-related crimes surged 10-fold to 430.7 billion yuan ($59 billion) in 2023, according to blockchain security firm SAFEIS. Last year, China sued 3,032 people involved in crypto-related money laundering, according to the country's top procurator.
IMF asks El Salvador to drop bitcoin, more countries clamp down
The International Monetary Fund (IMF) has urged El Salvador to drop bitcoin as a legal tender, citing risks to the nation's financial stability and consumer protection, joining a growing chorus of countries clamping down on private digital currencies.
Russia proposes ban on use and mining of cryptocurrencies
Russia has argued for years against cryptocurrencies, saying they could be used in money laundering or to finance terrorism.
Russia's central bank calls for crypto crackdown
The move is the latest in a global cryptocurrency crackdown as governments from Asia to the United States worry that privately operated and highly volatile digital currencies could undermine their control of financial and monetary systems.
View: Whatever bitcoin’s failings, the blockchain technology underpinning it is a marvel
Regulators have legitimate concerns, but should also recognise the benefits that could accrue from such technological innovations catalysed by bitcoin and other cryptocurrencies.
Crypto-linked stocks plunge in Hong Kong, bitcoin steadies
Shares of crypto asset manager and trading firm Huobi Tech, an affiliate of Huobi Global, one of the world's largest exchanges, fell more than 30% after the opening bell.
What's new in China's crackdown on crypto?
While China has been putting in place increasingly stricter rules on virtual currencies, it has now made all activities related to them illegal and sent a signal of intent they plan to get even tougher on enforcing the rules.
China turns the screws in crypto crackdown
Ten Chinese government agencies, including the central bank as well as banking, securities and foreign exchange regulators, said in a joint statement that they would work closely to maintain a "high-pressure" crackdown on speculative trading of cryptocurrencies.
China deems all crypto-related transactions illegal, bitcoin slips 5%
All cryptocurrency-related transactions are illegal and must be banned, People’s Bank of China says, sending the strongest signal yet on its determination to crack down on the industry.
Beijing doubles down on rooting out crypto in China
The People's Bank of China's statement sent bitcoin tumbling to a two-week low and ether to a more than five-week low. On Tuesday, prices of major cryptocurrencies stabilised.
Chinese banks promise to step up cryptocurrency ban
China's biggest banks have promised to refuse to help customers trade Bitcoin and other cryptocurrencies after the central bank said executives were told to step up enforcement of a government ban.
China blocks several cryptocurrency-related social media accounts amid crackdown
More actions are expected, including linking illegal crypto activities in China more directly with the country's criminal law, according to analysts and a financial regulator.
Bitcoin ends day on the ropes after China clamps down on mining, trading
Bitcoin markets operate 24/7, setting the stage for price swings at unpredictable hours, with retail and day traders driving those moves.
Bitcoin tumbles 10% after China cracks down on mining, trading activities
China's Financial Stability and Development Committee, chaired by Vice Premier Liu He, singled out bitcoin as the asset it needs to regulate more.
More Bark, Less Bite: China crypto players shrug off latest crackdown
China's latest salvo against cryptocurrencies has driven a brutal selloff in bitcoin markets but retail traders, miners and even crypto finance firms reckon Beijing's bark is louder than its bite.
What Beijing's new crackdown means for cryptocurrency in China
Many of the new rules expand on previous restrictions aimed at cryptocurrencies and close loopholes that had allowed some finance and payment firms to continue in the trade.
What Beijing's new crackdown means for cryptocurrency in China
Many of the new rules expand on previous restrictions aimed at cryptocurrencies and close loopholes that had allowed some finance and payment firms to continue in the trade.
Where are Bitcoin & cryptocurrencies legal and where are they not?
Most major international economies are still highly skeptical about cryptocurrencies. Since Bitcoin and others of its ilk have gradually started winning institutional endorsements, the regulatory hassles for cryptocurrencies have also increased.
View: India does not need a ban but a robust policy on crypto
During the Covid-19 pandemic, when a majority of Indians were facing pay cuts and job losses, the average daily crypto assets trading volumes across top Indian exchanges grew by nearly 500% since March 2020 when the Supreme Court struck down RBI’s April 2018 circular.
India's cryptocurrency bill puts industry in a state of panic
Bitcoin prices on Indian crypto exchanges fell 7-8% on Sunday afternoon after the government announced it would introduce India's cryptocurrency bill in the budget session of the Parliament.
Supreme Court seeks centre’s view on cryptocurrency within 2 weeks
The RBI order had virtually stopped all trade and exchange of bitcoins even though there is no official ban on it, said Nakul Dewan, counsel for nine cryptocurrency exchanges.
Bitcoin drops below $15,000 as regulation, demand concerns linger
Bitcoin was last down 7.57% at $14,902.99 on the Luxembourg-based Bitstamp exchange.
Bitcoin roars back, jumps 20% from Friday's low to hit $4,000
China banned fundraising by selling digital coins, known as initial coin offerings.
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