PBOC sets USD/CNY reference rate at 6.7989 vs. 6.8036 previous

China's stronger yuan signals economic confidence, potentially reducing capital flight and impacting global trade dynamics and currency markets. The post China’s central bank sets yuan reference rate above 6.80 per dollar for first time since 2023 appeared first on Crypto Briefing.

The post Operation First Light 2026 Hits Crypto Launderers, 5,811 Arrested appeared on BitcoinEthereumNews.com. INTERPOL coordinated arrests across 97 countries in a four-month anti-fraud operation. Authorities intercepted $293 million in fiat and crypto assets. One Thai suspect’s wallet processed over $122.5 million in romance scam proceeds. China’s Ministry of Public Security funded the operation, raising political questions. INTERPOL announced on July 9 that Operation First Light 2026, a coordinated anti-fraud campaign involving 97 countries and territories, produced 5,811 arrests and intercepted $293 million in illicit assets between January 15 and April 30. The operation targeted social engineering fraud, the family of scams that manipulates human trust rather than software vulnerabilities, along with the laundering infrastructure that moves the proceeds. Investigators identified over 142,000 victims worldwide in a four-month window, and the recovered funds cover only a small frac

INTERPOL coordinated arrests across 97 countries in a four-month anti-fraud operation. Authorities intercepted $293 million in fiat and crypto assets. One Thai suspect’s wallet processed over $122.5 million in romance scam proceeds. China’s Ministry of Public Security funded the operation, raising political questions. INTERPOL announced on July 9 that Operation First Light 2026, a coordinated [...]

China's debt refinancing plan could stabilize local economies, but persistent high debt levels and fiscal pressures may limit broader benefits. The post Chinese provinces approach milestone in debt refinancing plan appeared first on Crypto Briefing.

Nexchip's Hong Kong listing highlights China's strategic pivot to bolster its semiconductor industry amid global trade tensions and tech restrictions. The post Nexchip begins trading in Hong Kong after raising $890M in share sale appeared first on Crypto Briefing.

The post Chinese Yuan: Fixing guidance fades, path less anchored – OCBC appeared on BitcoinEthereumNews.com. OCBC’s Christopher Wong observes that Renminbi (RMB) appreciation guidance is waning, with CNH-CNY fixing gaps narrowing and daily adjustments moderating. Policymakers appear to be shifting toward RMB stability rather than further appreciation. As a result, USD/CNH may become more driven by the broader Dollar, yield differentials and China growth sentiment, leaving downside less anchored. Stability focus shifts USD/CNH drivers “The RMB appreciation impulse appears to show tentative signs of losing some official reinforcement. The CNH-CNY fixing gap has narrowed, while the pace of daily fixing adjustment has moderated.” “Recent fixes have also been less RMB-supportive versus market expectations (Bloomberg proxy), suggesting that the policymakers may be shifting back toward RMB stability management rather than guiding for further appreciation.” “If fixing guidance continues to fad

The post Chinese Yuan: Forecast band tightened as stability holds against US Dollar – ING appeared on BitcoinEthereumNews.com. ING’s Chief Economist Lynn Song notes that the CNY has been one of the strongest performers in 2026, even against a firm Dollar backdrop. Song tightens its USD/CNY forecast band to 6.67–6.92 for the rest of the year, citing PBoC-driven currency stability, strong Chinese exports, a robust current account surplus and expectations of a narrowing US-China yield spread. CNY resilience and revised band “The CNY has been one of the top performers so far in 2026. With upside risks increasingly reflected in current valuations, we are narrowing and modestly lowering our forecast range to 6.67–6.92 for the remainder of the year.” “Will the CNY outperformance repeat in the second half? This is probably a more dollar-centric rather than CNY-centric question. The dollar-weakening trend would likely result in the CNY underperforming other currencies.” “With the PBOC holding f

The post China AI token use explodes to 140 trillion daily with rising western share appeared on BitcoinEthereumNews.com. China’s use of artificial intelligence has surged faster than expected, with daily AI token usage rising more than 1,000-fold in just over two years. The growth is also expanding into Western markets. According to China’s National Bureau of Statistics, daily AI token usage increased from 100 billion at the start of 2024 to 100 trillion by the end of the year, reaching over 140 trillion by March 2025. That’s roughly 100,000 tokens per person across China’s 1.4 billion population. Tokens are the small units of text and data that AI models use to process and generate content, forming the basis of everything from chatbot responses to AI-generated videos. Industry experts in China say token use has grown so large that it is becoming the basis of a whole economy, with AI services increasingly bought, sold, and priced by the token. Chinese models gain ground in the West Ch