Flash News

TREE NEWS update: Raheim Hamilton, co-founder of the darknet drug marketplace Empire Market, was sentenced to 40 years in prison and fined $5 million by a US federal court, forfeiting 1,230 BTC worth about $101 million. The platform processed over 4 million drug transactions between 2018 and 2020, totaling more than $430 million. Co-founder Thomas Pavey has pleaded guilty and forfeited 1,584 BTC.

TREE NEWS update: Ajay Shinjin, 25, was sentenced to two and a half years in prison on October 8 for his role in a SIM-swap fraud that stole nearly £200,000 ($265,000) in crypto assets, City of London Police said. The gang ported victims’ phone numbers to SIM cards they controlled to intercept SMS verification codes and access crypto accounts. Shinjin personally received over £44,000, which he spent on Dubai trips, a high-end apartment and gold-plated dental work. He had pleaded guilty to conspiracy to defraud and transferring criminal proceeds.

TREE NEWS update: Ajay Shinjin has been jailed for his role in a SIM-swap scheme that stole nearly $265,000 in crypto after criminals hijacked BT customers’ phone numbers in November 2021. He spent the proceeds on gold grills and Dubai trips.

TREE NEWS update: Ningbo’s municipal government has issued 17 measures to strengthen regulation and prevent risks in the private fund industry, becoming the first local government in China to implement the sector’s national top-level design. The document, Ningbo Government Office Document No. 25 of 2026, takes effect on October 23, 2026, and aims to improve private funds’ service to the real economy.

TREE NEWS update: The Shenzhen Stock Exchange issued a letter of concern to Chinese Online over its plan to issue A-shares to no more than 35 specific investors, raising up to 2.83 billion yuan. Proceeds would fund digital copyright content upgrades, IP derivative development, AI large-model R&D, an AIGC multimodal content platform and an intelligent mid-platform. The exchange asked the company to justify the projects’ commercial rationale, technical feasibility and projected returns.

TREE NEWS update: The Securities Association of China has drafted a code of conduct for IPO sponsor representatives and opened it for industry comment. Under the draft, sponsor representatives must solicit business fairly and may not disparage rivals, submit unreasonable quotes, claim ties to regulators, promise relaxed due diligence or disclosure standards, promise filing, registration or pricing timelines, or sign side agreements.

TREE NEWS update: China’s State Tobacco Monopoly Administration, State Administration for Market Regulation and National Medical Products Administration jointly drafted a notice banning the production and sale of illegal e-cigarettes and opened it for public comment. Feedback is due by October 29, 2026. The draft implements a State Council Office directive on combating tobacco-related illegal activity across the supply chain.

TREE NEWS update: India has withdrawn tax exemptions on gold, silver and platinum imports by banks and government-designated agencies, imposing a 3% levy on the affected shipments. The move raises costs for the main channels that supply one of the world’s largest precious-metals markets. The change applies to imports handled by banks and designated agencies.

TREE NEWS reports: China’s Ministry of Finance said it will continue implementing its debt-resolution policy package and accelerate the clearing of existing hidden local-government debt, in its report on fiscal policy implementation for the first half of 2026. The ministry pledged to guard against fake debt resolution and new hidden borrowing, and to push forward the exit and restructuring of local government financing vehicles. It also said it would support grassroots fiscal operations and help clear overdue payments owed to enterprises.

TREE NEWS update: China’s Ministry of Finance said it will plan and roll out pragmatic new policy measures in a timely manner based on macroeconomic conditions, according to its report on fiscal policy implementation in the first half of 2026. The ministry said it will run a more proactive fiscal policy, step up counter-cyclical adjustment, and expand domestic demand to support the economy.

TREE NEWS update: China’s Foreign Ministry on October 9 rejected US claims that seven internet domains tied to Chinese hackers were seized over attempted intrusions into critical infrastructure. Spokesperson Mao Ning said Beijing opposes hacking and the spread of disinformation for political ends, adding that cybersecurity is a shared concern of both countries. She urged Washington to drop double standards and resolve the issue through equal dialogue.

TREE NEWS update: Binance has placed Biconomy (BICO) and Civic (CVC) under its Monitoring Tag, the exchange said in an official announcement on October 9. Tokens carrying the tag typically show higher volatility and risk, Binance said, and may no longer meet its listing standards, putting them at risk of delisting.

TREE NEWS update: The People’s Bank of China published a policy position on the renminbi exchange rate, clarifying that currency issues should not be politicized or used as a tool to discredit other countries. It said assessments by some international organizations are not jointly agreed by member states and should not be treated as authoritative or cited selectively, and that individual countries should address their own structural economic problems rather than shifting blame.

TREE NEWS update: Thailand has finalized rules that pave the way for Bitcoin and Ether ETFs, which will take effect next week. The funds will be permitted to trade exclusively on the Stock Exchange of Thailand.

TREE NEWS update: Hong Kong’s Securities and Futures Commission CEO Julia Leung said extended trading hours will first be rolled out in the derivatives market, while HKEX will publish a discussion paper this quarter on extending cash market trading hours and will welcome public feedback. No specific timetable for the cash market change was given.

TREE NEWS update: The Securities Association of China has drafted a code of conduct for sponsor representatives and is seeking industry feedback. The rules bar using AI tool outputs as a substitute for professional judgment and prohibit signing off without due diligence. They also tighten conflict-of-interest and anti-corruption requirements across the full sponsorship process, including pre-investment before project approval and retrospective benefit arrangements after termination.

TREE NEWS update: The Depository Trust Company has proposed an overhaul of its Direct Registration System that would replace batch processing with APIs and automate a transfer step, cutting share-registration transfer times from days to minutes. Transfer-agent approval would still be required under the plan.

TREE NEWS update: China’s Ministry of Commerce set the 2027 non-state crude oil import allowance at 257 million tonnes, the ministry said. The figure defines the volume of crude that non-state traders are permitted to import under the quota system for that year. No further details on allocation or timing were given.

TREE NEWS update: A Senate Democrat has sent Cantor Fitzgerald a letter seeking answers about its ties to Tether, following a report by Democratic investigators last month alleging that Tether’s USDT has become a key tool for Iran’s shadow banking network. The letter puts the Wall Street firm’s relationship with the stablecoin issuer under fresh scrutiny.

TREE NEWS update: China’s Ministry of Agriculture and Rural Affairs, the State Administration for Market Regulation and the National Intellectual Property Administration jointly issued a special action plan for agricultural brand protection covering 2026-2027. The plan targets trademark and other infringements to curb illegal practices, foster a fair market environment, boost consumer confidence and protect farmers’ interests.