Flash News

TREE NEWS update: Authorities in Changsha, Hunan province, shut down an illegal surrogacy facility on September 9 after a tip-off. The health bureau and police raided a site in Yuelu District’s Tianding Street, seizing the premises and detaining six people. An investigation is ongoing.

TREE NEWS update: The Shanghai Stock Exchange issued a regulatory work letter regarding Changzhou Xingyu Automotive Lighting Systems Co., Ltd. The letter, disclosed on [date], addresses specific matters related to the company. Further details of the regulatory action were not immediately available.

TREE NEWS update: Alan Lane, former CEO of Silvergate Bank, said a ‘coordinated attack’ by the Biden administration made the bank’s continued operation untenable, prompting its liquidation in 2023. His remarks, made in a recent interview, attribute the bank’s collapse to political pressure rather than internal failures.

TREE NEWS reports: India’s securities regulator SEBI has charged JPMorgan’s Mauritius unit with manipulative stock trading and previously accused Jane Street of market manipulation, signaling a tougher stance on foreign institutions in the $5 trillion equities market. Jane Street has denied the allegations. SEBI is expected to scrutinize domestic and foreign trading activity more aggressively to protect retail investors.

TREE NEWS update: Mexican authorities seized 300 cryptocurrency mining rigs that were illegally wired into a hydroelectric dam. Forensic accountants are now tracing payments for the hardware, with money laundering not ruled out. The operation underscores ongoing efforts to curb unauthorized power use in crypto mining.

TREE NEWS update: Shanghai added 17 generative AI services to its filing list as of September 9, bringing the total to 205. Live AI applications must display their filed status, including model name and filing number, and label AI-generated content as required.

TREE NEWS update: China’s State Council Information Office will hold a press conference on September 10, 2026, at 3 PM to discuss financial sector implementation of the 15th Five-Year Plan and building a strong financial nation. Officials including PBOC Deputy Governor Lu Lei and CSRC Vice Chairman Li Chao will answer questions.

TREE NEWS update: Jack Dorsey’s Block has applied for a bank charter to custody Bitcoin, aiming to consolidate its custody operations under Builders Bank. Currently, Block runs these operations under more than 50 state money transmitter licenses. The move would streamline regulatory oversight and potentially expand its crypto services.

TREE NEWS update: Beijing’s municipal government issued a development plan for high-end industries in the 15th Five-Year Plan period, vowing to advance full-stack autonomy and full-domain applications to seize the global competitive high ground in artificial intelligence. The plan emphasizes strengthening autonomous ecosystem security, improving AI system software stack capabilities, and accelerating deployment of domestic computing architectures. It also calls for enhanced algorithm theory innovation, guidance for large language and multimodal models to strive for global leadership, and building innovation hubs for scientific intelligence and embodied AI, with forward-looking layout of world models.

TREE NEWS reports: Iran has relaxed currency regulations to allow exporters to fund imports with overseas earnings without first selling foreign currency at official rates, a move reported by the Financial Times as a way to bypass US sanctions using crypto. The new rules enable exporters to use their foreign-currency earnings directly for imports, potentially facilitating transactions through cryptocurrencies.

TREE NEWS update: Jack Dorsey’s Block has applied for a US trust bank charter to launch Builders Bank, offering federally supervised digital asset custody for bitcoin and stablecoins. The proposed bank would not accept deposits or issue loans.

TREE NEWS update: China’s Foreign Ministry spokesperson Mao Ning on Tuesday rejected US accusations that six Chinese AI firms stole American models via distillation, calling the claims unfounded. Responding to a joint statement by US intelligence agencies, Mao said China’s AI development results from self-reliance and open cooperation, urging Washington to implement bilateral consensus and avoid smears.

TREE NEWS update: Gemini’s local entity has been authorized by Singapore’s central bank to provide digital payment token and cross-border money transfer services without standard transaction-volume limits. The license marks a regulatory milestone for the crypto exchange in Asia.

TREE NEWS update: China’s National Health Commission and other agencies revised regulations on medical narcotics and psychotropic drugs, effective October 1, 2026. The new rules, 11 chapters and 73 articles, expand coverage to all medicinal narcotics and psychotropics, including Schedule II, and refine management across procurement, storage, prescribing, use, recovery, and destruction.

TREE NEWS reports: Iran’s central bank has quietly permitted exporters to settle cross-border trade with cryptocurrencies including Tether and Bitcoin, relaxing forex repatriation and official exchange-rate controls to encourage funds to be brought back “by any means,” as reported by the Financial Times. The move aims to offset US wartime sanctions. On-chain data from TRM Labs shows nearly $10 billion in crypto flowed through Iran in 2025.

TREE NEWS update: US Senator Bernie Sanders plans to introduce the Ban Artificial Superintelligence Act, which would prohibit developing AI systems beyond human intelligence and pause other advanced AI research until safety rules are set. In the UK, MP Alex Sobel has proposed a bill to ban “superintelligent AI” in the House of Commons, a first among G7 parliaments. Both measures would urge their governments to pursue a global treaty banning such development and grant new powers to monitor and restrict potential precursor systems. ControlAI helped draft the bills, calling them a starting point for future AI regulation.

TREE NEWS update: US prosecutors said Malone Lam, the ringleader of a cybercrime network, pleaded guilty to conspiracy in a $245 million cryptocurrency theft. Lam organized an international group that targeted crypto holders through social engineering and home break-ins.

TREE NEWS reports: Blockchain security firm Bitrace disclosed that Southeast Asian fraud parks use USDT as the core payment and laundering tool, with over 3.4 billion USDT flowing into crypto guarantee platforms in H1 2026. The report details industrial-scale crimes including human trafficking, data theft, and fake DAPP scams, urging public vigilance.

TREE NEWS update: China Securities Association has issued a notice to securities firms for the 2026 Financial Education Publicity Week, scheduled for September 7-13. The campaign will use the theme “Clear Financial Network, Safeguard Peaceful Investment” and focus on five areas with two key arrangements. Firms must submit activity data by September 18.