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The Bank of China's Shanghai Branch has successfully completed the first cross-border digital yuan transaction, settling a 100 million yuan trade. The transaction involved collaboration between the Bank of China Shanghai Branch, its RMB Trading Business Headquarters, and BOC Hong Kong. This achievement reflects the synergy between the local and Hong Kong branches, marking a significant milestone in the adoption of digital yuan in international transactions. The bank has also been actively involved in developing system support for foreign financial institutions in digital RMB projects. (Source: Coingape)

A U.S. appeals court has issued a mandate formalizing the forfeiture of 69,370 bitcoins and other cryptocurrencies linked to the defunct Silk Road dark web market. The judgment, originally made in August, became effective following the finalization of the mandate. Silk Road founder Ross Ulbricht, two claimants, and the U.S. government are listed as parties in the filing. The government had previously taken control of the crypto, handed over by "Individual X," who hacked into Silk Road and gained control of its funds. The seized crypto, valued at over $1 billion in 2020, has now been officially forfeited. (Source: Cointelegraph)

The European Union has introduced its twelfth package of restrictive measures against Russia, barring Russian nationals from owning or controlling cryptocurrency service providers. The move is part of the EU's efforts to combat the circumvention of existing prohibitions on providing crypto-related services. Additionally, the EU announced that diamonds entering its territory must now be traced using blockchain technology, ensuring transparency from "the mine to the finger." The new sanctions package aims to contribute to a just and lasting peace while acknowledging the impact of EU sanctions on the Russian economy. (Source: Bitcoin.com)

In a landmark decision, the UK Supreme Court has upheld lower court rulings that artificial intelligence (AI) entities cannot be recognized as inventors in patent applications. The case involved Dr. Stephen Thaler's AI, Dabus, which was denied inventor status by the court, emphasizing that inventors must be people. While bringing clarity to patent law, the decision leaves questions about AI creativity open for future debate. The ruling reinforces the long-standing principle that inventions must be attributed to individuals, maintaining the legal requirement that an inventor must be a person. (Source: Cryptopolitan.com)

Former FTX CEO Sam Bankman-Fried's request for a four to six-week postponement of his sentencing hearing has been denied by Judge Lewis Kaplan. Bankman-Fried's defense argued that more time is needed to gather evidence for the sentencing submission and prepare for the pre-sentencing interview scheduled for December 21. The judge dismissed the request, and Bankman-Fried's sentencing hearing remains set for March 28, 2024. Bankman-Fried was convicted on all counts related to fraud and other offenses at FTX and Alameda Research on November 2. (Source: Bitcoinist.com)

The U.S. Securities and Exchange Commission (SEC) encountered another legal setback, this time in a petition for the review of its rule on share repurchase data. This follows recent defeats in lawsuits involving XRP and Grayscale. In the Grayscale case, the US Court of Appeals for the District of Columbia Circuit ruled that the SEC's denial of Grayscale's spot Bitcoin ETF approval was "arbitrary and capricious." The court criticized the SEC for its inconsistent decisions on Bitcoin futures ETFs and granted Grayscale's petition for a review of the denial, highlighting the regulator's failure to recognize key market relationships. (Source: Coindesk)

Elon Musk has unveiled a significant upgrade to the X social media platform, particularly focused on improving the Community Notes feature. Musk's announcement on Twitter generated excitement within the crypto community, with several influential figures expressing their support for the upgrade. The enhancement involves a faster and more efficient operation of Community Notes, providing real-time streaming infrastructure for the scoring system. Notable crypto-themed accounts have applauded Musk's efforts in implementing this improvement, signaling positive feedback from the cryptocurrency space. (Source: Utoday)

Bitcoin (BTC) faced substantial selling pressure, plunging to a low of $40,500 recently. Despite the market's initial downturn, BTC swiftly turned around within the past day, reclaiming a position above the $43,000 level. The cryptocurrency's resilience in the face of selling pressure suggests a pattern where Bitcoin's price tends to rebound against prevailing sentiment, highlighting its ability to thrive amidst investor fear. (Source: Bitcoinist.com)

Crypto asset manager HashKey Capital has successfully obtained a full capital markets service license from the Monetary Authority of Singapore (MAS). The license allows HashKey Capital to operate as a regulated capital markets service provider in Singapore, providing a range of crypto-related financial products. The approval concludes the application process that began in May 2021, positioning HashKey Capital to offer regulated services in the Singaporean market. . (Source: Coingape)

The legal saga surrounding Do Kwon, co-founder of Terra Labs, takes an unexpected turn as Montenegro's Appellate Court annuls a previous decision to extradite Kwon. Citing procedural errors and a lack of clarity in the legal process, the court's decision comes after Kwon's defense filed a complaint challenging the ruling that initially paved the way for his potential extradition to the United States or South Korea. Kwon's legal challenges involve charges related to the collapse of TerraUSD, and the case has now been referred back for retrial in the Podgorica Basic Court. (Source: Cointelegraph)

Sen. Elizabeth Warren (D-Mass.) has accused lobbying groups in the crypto industry, including Blockchain Association, Coin Center, and the Chamber of Digital Commerce, of undermining bipartisan efforts in Congress and the Biden Administration to address the role of cryptocurrency in financing terrorist organizations such as Hamas. Warren's letter referenced a report claiming that these groups are working against legislative efforts to combat terrorism financing through crypto. However, blockchain analytics firms dispute claims of extensive crypto funding for Hamas, stating that the actual amount is in the thousands of dollars, not tens of millions. (Source: Coindesk)