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AI & Enterprise

US removes DeepSeek from government systems; China says it will not stand idly by

China pushed back after the United States barred the use of products from Chinese AI startup DeepSeek in federal civilian agencies’ IT systems and ordered their removal. The U.S. Department of Homeland Security also banned new procurement of DeepSeek-related products and services. A notice cited threat pathways and concerns that servers in China could allow access to sensitive U.S. data. China’s foreign and commerce ministries condemned the move and vowed countermeasures.

Finance

Visa wins PBOC preparatory approval for China card clearing unit

Visa has received approval from the People’s Bank of China to begin preparations to set up a bank card clearing institution in China through its wholly owned unit, Visa Information Technology Beijing. The approval is a preliminary step and does not allow immediate operations. The report said Visa must complete preparations within a year and then apply for a formal licence. American Express and Mastercard previously obtained clearing licences from the PBOC.

Crypto

Solana runs large ad in China despite crypto ban, Changpeng Zhao says he is surprised

Solana has put up a brand advertisement on the exterior wall of a high-rise building in central Shanghai and moved to expand its local developer ecosystem. The move comes as cryptocurrency trading and speculation are banned in mainland China, while blockchain research and developer activities continue separately. Solana and the Solana Foundation also publicised a Shanghai office and a builder station launched in March, and said they are avoiding efforts to promote token trading.