Flash News

TREE NEWS update: US Treasury Secretary Scott Bessent said Tuesday that the dollar remains strong as a reserve currency, telling a congressional hearing that growth in global transaction volumes reflects the credibility of the US system and the current administration’s policies. “A strong dollar is not a price on a screen; it is a reflection of a set of behaviors,” Bessent said, citing regulatory, tax, trade and energy certainty that he said is drawing trillions of dollars into the United States. He noted that while countries such as Russia have cut their foreign reserves, others are still actively adding to them.

TREE NEWS reports: Bitcoin gave back its entire post-golden-cross rally in a single red candle, with a make-or-break Senate vote on the Clarity Act due this afternoon and the Fed weighing a rate hike. The drop wiped out gains booked since the technical signal, leaving traders focused on the legislative outcome and monetary policy.

TREE NEWS update: US House Speaker Mike Johnson said he will not allow the United States to lose its competitive edge in artificial intelligence and that AI development cannot be paused. Johnson said AI company executives are expected to visit the White House within the next week.

TREE NEWS update: The European Central Bank is recruiting e-commerce and mobile-commerce merchants in the euro area to take part in a 12-month digital euro pilot starting in the second half of 2027. The trial will test the technology, operational processes and user experience of a test version of the digital euro that will resemble the real thing but carry no legal-tender status. The ECB, the 19 euro-area national central banks and selected merchants will take part, with central bank staff acting as users.

TREE NEWS update: The first Yangtze Delta regional foreign-related intellectual property protection service month opened in Jiashan County, Jiaxing, Zhejiang, running through October 25. The IP authorities of Shanghai, Jiangsu, Zhejiang and Anhui signed a regional cooperation framework agreement covering shared overseas IP risk information, coordinated dispute response, joint service resources, cooperation on key sectors, joint talent training and a joint conference mechanism.

TREE NEWS update: Senate Republicans, led by Senator Cynthia Lummis, rejected a Democratic counterproposal hours before an initial vote on the Clarity Act. The procedural vote on the crypto market structure bill is expected shortly, with Republicans pushing back on Democratic demands. The standoff leaves the bill’s path uncertain as the chamber prepares to vote.

TREE NEWS update: China’s Ministry of Emergency Management convened a meeting to plan near-term priorities, ordering stricter safety supervision of outsourced operations in shipbuilding and repair, construction and chemicals. The ministry said authorities must draw lessons from past accidents, tighten accountability chains at every level, strengthen oversight of central state-owned enterprises and punish violations, to prevent major and especially serious accidents.

TREE NEWS update: The Digital Asset Tax Certainty Act heads to a House Ways and Means vote on Wednesday, exempting crypto transactions with fees of $10 or less. The bill taxes mining and staking rewards as ordinary income, with no option to defer — dropping the staking tax break the industry had sought.

TREE NEWS reports: The odds of the Clarity Act passing have fully reversed their recent move following Democrat pushback, with crypto majors reversing alongside. The bill’s passage prospects are now back to where they stood before the recent gain. It remains unclear whether any path to passage is left for the legislation.

TREE NEWS update: OpenAI has endorsed a House proposal to establish safety evaluations, the company said. The measure would set up assessment requirements for AI models. No further details on the bill’s scope, timing or the specific provisions OpenAI supports were provided.

TREE NEWS update: The Senate votes Tuesday, September 15, on a procedural motion to advance the Digital Asset Market Clarity Act, the major crypto market structure bill. The motion needs at least seven non-Republican votes to reach the 60-vote threshold and move toward a full floor vote.

TREE NEWS update: White House National Economic Council Director Kevin Hassett said he and President Donald Trump will respect whatever decision Fed Chair Kevin Warsh makes tomorrow, when asked whether a rate hike by Warsh would be a mistake. In an interview, Hassett said they hold Warsh in high regard and have known him for many years, while laying out his case against Fed rate increases.

TREE NEWS update: China’s State Administration for Market Regulation and the Ministry of Culture and Tourism held an administrative guidance meeting on September 15 with online hotel booking platforms. Fliggy subsequently pledged to comply with the Anti-Monopoly Law and Anti-Unfair Competition Law, vowing to reject “exclusive partnerships” and “lowest price across the entire network” practices and to defend merchants’ pricing autonomy.

TREE NEWS update: White House economic adviser Kevin Hassett said President Trump’s view is that the United States already has existing tools to regulate AI. Hassett also said AI companies warning each other does not constitute an antitrust issue. He made the remarks in comments on AI regulation.

TREE NEWS update: A House committee released a sweeping cryptocurrency tax bill ahead of a Wednesday markup. Among its provisions is a $10 exception for certain fees paid in crypto, along with measures covering stablecoins, mining and staking. The bill is scheduled for markup on Wednesday.

TREE NEWS update: China’s Administrative Measures for Online Marketing of Financial Products take effect at the end of this month, with some platforms already conducting compliance sweeps. Tencent has removed 53 illegal financial ads, reinstated 6 after rectification, and banned 3 accounts lacking financial qualifications. Douyin now requires financial marketers to hold legal qualifications and complete platform certification, prohibiting operations beyond approved scope.

TREE NEWS update: Trip.com Group said it will strictly implement compliance requirements for the online hotel booking industry, after China’s State Administration for Market Regulation and the Ministry of Culture and Tourism held an administrative guidance meeting for the sector on September 15, 2026. The company said the meeting gave firms important guidance on understanding regulatory requirements and improving compliance mechanisms.

TREE NEWS update: Multiple bank customers in Hong Kong reported their credit cards were fraudulently used to place orders for Apple iPhones, prompting a response from the Hong Kong Monetary Authority. An HKMA spokesperson said card transactions require effective security measures, and that where individual merchants opt out of or suspend extra authentication such as in-app verification or one-time passwords for operational reasons, those merchants must bear the liability and financial loss from unauthorized transactions.

TREE NEWS update: Tianjin’s Housing Provident Fund Management Center published a draft policy on its website seeking public comment that would let employees and their spouses who own homes in the city withdraw provident fund savings to pay property management fees. Under the draft, one withdrawal is permitted per year before December 31, capped at a combined 3,000 yuan annually. The draft also covers renovation costs.

TREE NEWS update: A 114-page crypto tax package in the US House would change the tax treatment of crypto fees, stablecoins and lending, while leaving existing rules on the timing of mining and staking reward taxation unchanged. The bill does not include a deferral for mining and staking rewards.