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On January 8, 2026, Wang Jingtao, Deputy Director of the Cyberspace Administration of China, met with a delegation led by Tan Keat Hau, Senior Minister of State for Digital Development and Information and Ministry of Health of Singapore, in Beijing. The two sides had in-depth exchanges on issues such as artificial intelligence governance and cross-border data flows, and reached a consensus on further deepening cooperation in related fields.According to Futures News on January 8th, as of 20:30 Beijing time, WTI crude oil futures rose 1.54%, while US natural gas futures fell 0.94%.Emerging market stocks and currencies fell for the second consecutive day on January 8th, as traders remained cautious ahead of key U.S. jobs data releases amid heightened geopolitical risks. The MSCI Emerging Markets benchmark index fell 0.8%, its biggest drop since mid-December; currencies of Thailand, South Korea, and South Africa led the decline. Meanwhile, bond issuance is seeing its strongest start on record, with Poland joining Hungary and Turkey in issuing bonds at low borrowing costs. The focus now is on Fridays non-farm payroll data, which could provide clues about the Federal Reserves interest rate path. If expectations of a rate cut strengthen, the market could extend its year-to-date rally further. Ian Simmons, a fund manager at Fiera Capital in London, said, "We are likely to continue to see a weaker dollar, which remains a favorable supporting backdrop, as the U.S. appears to be set on a rate cut."January 8th - A survey shows that OPECs crude oil production remained stable in December. While Venezuelan production fell to its lowest point in two years, this was offset by increased output from Iraq and other member countries. The survey shows that OPECs average daily output was slightly above 29 million barrels, essentially unchanged from the previous month. Venezuelan daily output fell by about 14% to 830,000 barrels, influenced by the US strategy of intercepting and seizing oil tankers to pressure the countrys leadership. Currently, London oil prices are fluctuating above $60 per barrel, near a five-year low, squeezing the fiscal space of OPEC+ members. Against this backdrop of uncertainty, the eight major members again agreed this month to freeze production in the first quarter, suspending the large-scale supply recovery plan implemented last year. The survey shows that Iraq saw the largest increase in production in December, with its daily output increasing by 80,000 barrels to an average of 4.37 million barrels per day. This will put Baghdads output significantly above its agreed OPEC+ quota, although the data used by the organization indicates that it is still meeting its targets.Two sources said that trading companies Vitor and Trafigura are negotiating with the U.S. government about marketing Venezuelan oil.

UK Government: Cryptoassets Could Be Seized to Stop Crime

Cameron Murphy

Apr 28, 2022 09:42


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The British government suggested on Thursday that crypto assets might be confiscated to help battle economic crime, but the plan fell short of the drastic change demanded by legislators, who want an unified crime-fighting agency.


Scams involving banking and the internet have increased dramatically in the United Kingdom, especially after the COVID-19 outbreak.


In response to a parliamentary investigation into economic crime, the administration said that it would introduce laws to allow cryptoassets to be confiscated and recovered more rapidly as soon as legislative time permits.


"In particular, (we propose) the development of a civil forfeiture authority to limit the danger presented by people who cannot be punished but use their wealth to continue crime," the government told the Treasury Select Committee in parliament.


The panel proposed creating a single organization to combat economic crime to replace a "bewildering" multitude of institutions, but the administration insisted that its multi-agency system was the best.


"It allows us to discriminate between various sorts of criminality," the government stated, adding that public-sector fraud required a different reaction than schemes perpetrated by individuals or corporations.


In a statement, TSC Chair Mel Stride stated, "This might be a big squandered opportunity."


The government has already endorsed a suggestion that requires internet platforms like as Google and Facebook to take aggressive steps to combat fraudulent financial product advertising, but the law will take time to adopt and execute.


"Now is the time for online platforms to step up and take down these fake ads," Stride added.


Google has already pledged to only accept financial advertisements from organizations that are authorized by the Financial Conduct Authority, and Facebook owner Meta is expected to follow suit later this year.


The investigation advised that internet platforms be required to assist clients who have been scammed, a measure that the government is considering.


"We're working together with technology firms, law enforcement, and civil society partners to investigate all options for assisting victims of online fraud and mitigating the damage they've suffered," the government stated.

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