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According to the Goldman Sachs report on "China's AI Computing Power" disclosed by P Equity Research, China is accelerating the construction of a national computing power network, with related infrastructure projects expected to attract 7 trillion yuan in investment by 2026. In the next five years, investment in data centers is projected to reach about 2 trillion yuan. Currently, funds and technology are being massively transferred to western computing power hubs, while data centers in first-tier cities are transforming to focus on ultra-low latency computing, edge nodes, and AI inference. Although GW-level clusters with over 100,000 chips remain scarce domestically, in typical GW-level computing power parks, workloads are primarily composed of inference, which accounts for more than half, as well as training and full-stack R&D.The report predicts that by 2026, the market share of domestically produced AI acceleration chips is expected to exceed 50%. Among them, Huawei and Alibaba's Pingtouge lead the domestic camp with shares of 20% and 7%, respectively, but Nvidia currently maintains overall market dominance with a 55% share. In terms of cost and performance, domestic chips have capital expenditures on IT power consumption that are 40% to 50% lower than imported chips, but due to performance gaps, their capital expenditures per unit of computing power are 2 to 4 times that of imported chips, and the computing power generated per unit of power consumption is only 10% to 30% of that of imported chips. Additionally, the daily average token output of Huawei's 910B/910C servers is about one-sixth to one-third of that of Nvidia's H800, resulting in significantly lower API profit margins based on that hardware compared to peers using Nvidia hardware.

The China Payment and Clearing Association has issued a warning to prevent cross-border gambling scams involving virtual currency, aimed at helping the general public enhance their awareness of fraud prevention and their ability to recognize scams.The China Payment and Clearing Association reminds that cross-border gambling results in "ten bets, ten losses." Participating in gambling through virtual currency is more concealed and risky. Engaging in gambling and providing funding for gambling activities is illegal and against regulations. Do not participate in virtual currency gambling transactions, and maintain the bottom line of financial security.

According to the South China Morning Post, Sun Shengbin from the Wenzhou Public Security Bureau and Lou Yandi from the Zhejiang Provincial Public Security Department's Criminal Investigation Team published a technical paper on June 4 in the journal "Forensic Technology," systematically disclosing the Chinese police's forensic tools and case handling processes for virtual currency assets such as Bitcoin and Ethereum. The content covers aspects such as device cracking, evidence collection, on-chain transaction tracking, and asset freezing and seizure.The paper outlines several tracking methods, one of which involves tracking transaction fees back to exchanges like Binance, allowing the police to obtain user data. The police can acquire "Know Your Customer" (KYC) records from major exchanges such as Binance, OKX, and HTX through formal legal channels. For funds stored in exchanges, the police can freeze accounts for six months, and the freezing period can be extended.Additionally, the document emphasizes strict operational bottom lines: investigators must not privately hold private keys. The principle of "separation of case handling and custody" must be adhered to, with comprehensive supervision and the establishment of a clear regulatory chain record.

According to The Block, the Legislative Yuan of Taiwan has passed the "Virtual Asset Service Act" in its third reading. The bill has been submitted to Taiwan's regional leader Lai Ching-te for signing, and the implementation date is expected to be announced within 10 days.The core points of the bill are as follows:• Licensing requirements: Virtual asset service providers must apply for a license from the Financial Supervisory Commission (FSC). Platforms that have completed AML registration have a 12-month application period and a 21-month approval period.• Stablecoin regulation: Issuing or managing stablecoins requires dual approval from both the central bank and the FSC, and sufficient reserves must be maintained.• Compliance requirements: Covering aspects such as cybersecurity, customer asset segregation, and internal controls.• Criminal penalties: Illegal operations can result in a maximum sentence of 7 years in prison and fines of up to NT$100 million (approximately US$3.14 million); market manipulation in the crypto space can lead to a maximum sentence of 10 years and fines of up to NT$200 million (approximately US$6.28 million).Industry insiders point out that crypto companies previously operating in legal gray areas will no longer be able to rely on regulatory ambiguity. Traditional financial institutions will also be allowed to apply for VASP licenses in the future, and existing crypto companies may face increased competitive pressure.

According to the disclosure from the People's Procuratorate of Jing'an District, Shanghai, recently, the court prosecuted a certain Li for suspected illegal business operations in a criminal gang that used virtual currency for cross-border money laundering and illegal foreign exchange. On June 10, the case was heard in court and a verdict was announced on the spot, marking a conclusion to a series of illegal business operations spanning three years and involving over 200 million yuan. In July 2024, the State Administration of Foreign Exchange discovered abnormal clues regarding Company Z using virtual currency to transfer assets for domestic clients during routine monitoring, and subsequently referred the case to the public security authorities for handling.Investigations revealed that Company Z was registered overseas in 2019, promoting itself under the guise of a "private bank" and developing a virtual banking app to create a facade of legitimacy, but it had not obtained the necessary foreign exchange business operation license in China and was essentially engaged in illegal foreign exchange activities. The gang targeted high-net-worth individuals with funding needs for overseas property purchases, immigration, and studying abroad, using intermediaries to attract clients, with customer managers, traders, and customer service personnel facilitating the currency exchange process. Clients purchased virtual currency from virtual currency exchangers with renminbi and transferred it to Company Z's overseas virtual wallet, after which the gang exchanged the virtual currency for foreign currency abroad and transferred it to the clients' designated overseas accounts. There was no actual cross-border flow of funds; instead, settlements were made through domestic and foreign capital pools, with Company Z charging a 3% currency exchange service fee and paying intermediaries a 0.5% commission.A total of nine individuals have been brought to justice in this case, while one main suspect is still under investigation. After review, the relevant personnel collectively violated national laws by illegally buying and selling foreign exchange, disrupting financial order, and the circumstances were serious or particularly serious, warranting criminal liability for illegal business operations. The court sentenced five individuals, including Gao and Li, to prison terms ranging from six years to two years and six months, and imposed fines ranging from 1.5 million yuan to 300,000 yuan; for Chen, Huang, and four others, due to lighter criminal circumstances, relatively smaller amounts involved, and voluntary confession, the procuratorial authority made a decision of relative non-prosecution according to the law.

According to C114 Communication Network, China Mobile has recently established a "Token Office" at the group level, directly led by the core leadership of the group, with the general manager of the Strategic Development Department serving as the executive deputy director, a position higher than the previous Computing Power Office.It is reported that this department aims to streamline the entire process of "creating Tokens, delivering Tokens, and applying Tokens," breaking the previous situation where multiple secondary departments such as the Computing Power Office, Mobile Cloud, Digital Intelligence Business Unit, Marketing Department, and Government and Enterprise Business Unit operated independently. Its core mission is to promote the implementation of two underlying capabilities in the intelligent era of China Mobile: first, to introduce the MobileClaw intelligent framework with a rich "skill package," and second, to gather over 300 mainstream models on the Mobile MoMA model platform, to accelerate the commercial implementation and large-scale operation of operators in the dimensions of AI network infrastructure and model application.

According to the Financial Times, Apple is lobbying the Trump administration for approval to purchase memory chips from Chinese chipmaker Changxin Storage. Due to multiple factors leading to a rise in memory prices, Apple unusually raised the prices of MacBook and iPad on Thursday, resulting in a market value loss of $263 billion. Apple hopes to alleviate the financial pressure from suppliers by including Changxin Storage in its list of memory suppliers.Changxin Storage and Yangtze Memory Technologies have currently been placed on the U.S. Department of Defense's blacklist of Chinese military companies (the 1260H list). The U.S. Department of Commerce had planned to add Changxin Storage to the entity list last year, but the White House postponed the plan due to ongoing trade negotiations with China at that time. Currently, aside from Chinese companies, the global memory chip industry is mainly dominated by three companies: U.S.-based Micron, and South Korea's Samsung and SK Hynix.

Bitget has launched 7 stock spot products including rSCHD (U.S. Dividend Stock ETF), rYUM (Yum Brands), rASST (Strive), and rDHI (D.R. Horton), covering popular sectors such as finance and consumer goods.It is reported that the rToken, identified by the letter r + stock code (for example, Nvidia is rNVDA), is issued by Reality, a licensed RWA protocol under Bitget, and is directly connected to global liquidity pools such as NASDAQ and NYSE through collaboration with the compliant brokerage Alpaca.

According to Caixin, the "People's Bank of China Law (Revised Draft)" was submitted for the first review at the 23rd meeting of the Standing Committee of the 14th National People's Congress on June 23, 2026. Among the new proposals, "clarifying the legal status of digital renminbi" is a new term. The 2020 consultation draft only mentioned that "renminbi includes both physical and digital forms." Previous consultation drafts also stipulated that no unit or individual may produce or sell token vouchers and digital tokens to replace renminbi in circulation in the market. The People's Bank of China shall order the cessation of illegal activities, destroy illegally produced and sold token vouchers and digital tokens, confiscate illegal gains, and impose fines of up to five times the illegal amount.

According to Bloomberg, citing informed sources, Microsoft has established a substantial business by selling OpenAI models to Chinese companies, despite facing intensified competition between China and the United States in the field of artificial intelligence. Among them, ByteDance has been one of Microsoft's largest artificial intelligence clients in recent years, primarily using OpenAI models. Informed sources say that ByteDance's annual spending on Microsoft's artificial intelligence and cloud services is expected to exceed $1 billion.

Elon Musk responded to the community's question about when China will reach Fable-level AI, stating: "Maybe Q1."Previously, X user Teortaxes mentioned that GLM 5.2 currently shows a gap of about 7 months compared to cutting-edge models, generally at the level of Opus 4.7-4.8; Mythos has reached Preview status in early February 2026, and the complete PRC Mythos ("Fable") may be launched between November and December 2026.

The High Court of Hebei Province, China, released typical cases of combating illegal fundraising. A man packaged an investment project with the concept of "metaverse" to promote the virtual goods investment project of the "Newmateworks" platform under the "Yishang United Community" to the public, inducing the public to participate in the investment. He directly introduced 19 investors who invested a total of 15.3936 million yuan, of which 1.1014 million yuan has been returned, while 14.2922 million yuan has not been returned. The court found that this case used emerging technology concepts such as "metaverse" as a cover to implement fraudulent marketing, violating national financial management laws and regulations, with a huge amount involved. The behavior constituted the crime of illegally absorbing public deposits, and he was sentenced to five years and four months in prison and fined.

The official announcement from the XAUT ecosystem states that the Greater China region node will officially complete its network connection from June 15 to 20, fully integrating into the global node network, simultaneously connecting the WEFI payment system and DEO Banking digital banking, completing the critical expansion of global financial infrastructure.The core focus of this ecological upgrade is on three major tracks: global stablecoin payments, on-chain asset clearing and settlement, and one-stop digital banking services. The dual asset pledge system for USDC and USD1 will be launched simultaneously, with multiple measures running in parallel to comprehensively optimize the underlying liquidity of the ecosystem, user asset allocation efficiency, and cross-border payment flow capabilities.According to official disclosures, the network upgrade of the Greater China region node will link with Helio Protocol's global investment ecosystem resources, implement XAUT gold stablecoin payment scenarios, diversify digital financial services, and establish a global node collaborative operation system, continuously improving the underlying architecture of the global stablecoin payment network, laying a solid foundation for the digitization of gold assets, cross-border compliant payments, and the large-scale implementation of on-chain banking services.

According to the Kraken page, the Kraken xStocks platform indicates that users in China cannot withdraw SPCXx.Previously, SPCXx also displayed "Trading Halted" on the Kraken xStocks platform, indicating that according to local regulations, this asset cannot be traded in China.

According to local media in Hong Kong, on June 5, the Hong Kong police received a report from a man who claimed that he was scammed out of 1.6 million USDT by a counterfeit exchange while exchanging virtual currency, which is worth approximately 14 million Hong Kong dollars. After preliminary investigation, the police classified the case as "obtaining property by deception" and handed it over to the 10th team of the Mong Kok District Criminal Investigation Unit for follow-up, with no arrests made yet. The police remind citizens that obtaining property by deception is a serious crime, and upon conviction, the maximum penalty can be imprisonment for fourteen years.

The China Securities Regulatory Commission announced that it has approved the initial public offering registration of Changxin Technology Group Co., Ltd.

The Hong Kong Securities and Futures Commission further interpreted the circular issued on May 22. The frequently asked questions (Question 9) in the circular mentioned that licensed companies in Hong Kong can continue to open new accounts for investors from mainland China (i.e., investors using Chinese resident identity cards and/or Chinese passports as identification documents), but must comply with all account opening regulations.The Hong Kong Securities and Futures Commission stated that licensed companies in Hong Kong can continue to provide services to existing clients from mainland China, provided that such services are not offered within mainland China and that they have complied with all relevant laws and regulatory requirements of Hong Kong and applicable jurisdictions. The Hong Kong Securities and Futures Commission also noted that it is aware of the notice jointly issued by the mainland authorities on May 22, 2026, and that the relevant requirements also apply to financial institutions in other jurisdictions (not limited to Hong Kong) when providing services to investors from mainland China.

According to a report by Knews, on June 7, the Supreme People's Procuratorate disclosed a new type of virtual currency theft case. A man from Shandong, Zhang, had long assisted an acquaintance, Feng, in handling virtual currency transactions. After gaining Feng's trust, he proactively suggested that Feng switch to a more convenient digital wallet. The asset mnemonic (key) of this type of wallet is generated by randomly selecting 12 combinations from 2048 commonly used English words, which is the core password for storing virtual currency.Taking advantage of the moment when Feng was copying the mnemonic, Zhang memorized 11 complete words solely by sight and strong memory, and also noted the first letter of the last word. That night, relying on fragmented memory to repeatedly test and combine, he successfully unlocked Feng's digital wallet and transferred 107 bitcoins, later selling them for an illegal profit of 660,000 yuan. The court ultimately sentenced him to ten years and nine months in prison for theft and imposed a fine of 100,000 yuan.

According to the "Procuratorial Daily," Lin, Zeng, and Dai conspired to use virtual currency trading as a pretext. During the trading process, they secretly filmed the victim's digital wallet private key and, after the virtual currency was credited, secretly logged into the victim's wallet to reverse the transaction, transferring the related virtual currency back to their controlled accounts. The three committed the crime three times, causing the victim a total economic loss of 660,000 yuan.The first-instance court held that in the absence of a clear judicial interpretation regarding the valuation method of virtual currency and sentencing standards, it was inappropriate to directly determine the amount involved as particularly huge based on the victim's purchase amount of 660,000 yuan. Therefore, they sentenced the three based on "other serious circumstances," imposing prison terms ranging from eight years to five years and six months, along with fines. The Hanyang District Procuratorate of Wuhan City in Hubei Province subsequently filed an appeal, which was supported by the Wuhan City Procuratorate.The prosecution argued that the first-instance court applied the law incorrectly and imposed an excessively light sentence. Prosecutor Dai Wentao of the Wuhan City Procuratorate stated that in the case where the victim had a clear loss amount to refer to, it was contradictory and legally erroneous to claim that the value of virtual currency could not be determined. In judicial practice, using the resale price and transaction price as the basis for determining the amount of theft has become mainstream, and determining the value of virtual currency based on the actual cost paid by the victim has factual, legal, and practical basis.The Intermediate Court of Wuhan accepted the prosecution's opinion in the second instance, revoked the corresponding content of the original judgment, and changed the determination of the theft amount to particularly huge. It sentenced the principal offender Lin to ten years and six months in prison for theft, and sentenced the accomplices Zeng and Dai to eight years in prison each, along with fines.