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Russia-linked crypto ransomware hits U.S. arm of Chinese lender

A Russian-speaking crypto ransomware gang LockBit has attacked ICBCFS arm in the U.S. Cryptocurrency ransomware gang LockBit has attacked the U.S. arm of the Industrial and Commercial Bank of China Financial Services (ICBCFS). Currently, it prevents the bank from settling Treasury trades, the Financial Times (FT) reports, citing market participants. Although details

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Singapore startup dtcpay launches retail crypto payments system with Chinese partners

Singapore-based dtcpay is launching a payment system that will use fiat and cryptocurrencies for in-store and online payments. The company mentioned Tether (USDT), Ether (ETH) and Bitcoin (BTC) in its announcement.The company is partnering with open-source blockchain PlatON for privacy-protected digital infrastructure and Allinpay International to create smart terminals and

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U.S. lawmakers establish CLARITY Act to shutdown federal ties to Chinese blockchain

U.S. Representatives Zach Nunn and Abigail Spanberger have introduced the CLARITY Act of 2023, a bill aimed at prohibiting federal officials from transacting with Chinese blockchain companies to safeguard national security interests. In a bipartisan initiative, Representatives Zach Nunn and Abigail Spanberger introduced the Creating Legal Accountability for Rogue Innovators and

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US lawmakers introduce CLARITY Act to limit federal ties with Chinese blockchain

United States Representatives Zach Nunn and Abigail Spanberger have jointly introduced the Creating Legal Accountability for Rogue Innovators and Technology Act of 2023, or the CLARITY Act of 2023. The legislation aims to prohibit federal government officials from conducting business with Chinese blockchain companies.The Act would ban government employees from using the

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Chinese president calls for unity on AI challenges and cyber development

Chinese President Xi Jinping addressed an audience on Nov. 8 at the World Internet Conference Summit in Wuzhen, China, calling for international cooperation on the risks posed by artificial intelligence (AI).Xi’s speech, pre-recorded and broadcast at the conference, stressed the need for “deepened” exchanges and cooperation to “jointly advance the

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Chinese digital yuan CBDC used for first time to settle cross-border oil deal

The digital yuan has been used for the first time to settle an oil transaction, the Shanghai Petroleum and Natural Gas Exchange (SHPGX) announced. PetroChina International bought 1 million barrels of crude on Oct. 19. The transaction was a response to a call by the Shanghai Municipal Party Committee and Municipal

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