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China urges banks to adopt blockchain for tax data sharing and credit access

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China urges banks to adopt blockchain for tax data sharing and credit access

China’s regulators are pushing for banks to upgrade the “bank-tax interaction” model in a bid to expand financing for small businesses.

Summary

  • China has urged banks to upgrade the bank tax interaction model using blockchain and shared data to improve financing access for small businesses.
  • Authorities are pushing for better credit models and faster approvals, with a focus on extending loans to compliant and tax paying enterprises.

According to a policy notice issued by the State Administration of Taxation and the National Financial Regulatory Administration, banks and taxpayers should standardize data sharing to reduce information asymmetry between tax authorities, banks, and enterprises.

Further, the agencies suggested improving credit models, enhancing approval efficiency, and increasing the supply of financing services to “honest, tax-paying enterprises.”

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China published a National Development and Reform Commission roadmap in January 2025 that directed the integration of blockchain into data infrastructure, with nationwide implementation expected by 2029.

Key officials like Shen Zhulin, deputy director of the National Data Administration, believe the initiative could attract around 400 billion yuan (about $58 billion) in yearly investments.

Meanwhile, in 2019, Chinese President Xi Jinping called blockchain a “breakthrough” and urged its integration into the real-world economy; subsequently, China expanded the country’s first blockchain-based electronic invoice system through the Shenzhen Tax Bureau.

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China’s anti-crypto push

Despite backing blockchain development, China has remained strict on cryptocurrencies and speculative digital asset trading.

In 2021, authorities issued a joint circular effectively imposing a nationwide ban on crypto transactions and mining

More recently, in February 2026, regulators expanded this framework to explicitly cover stablecoins and tokenized real-world assets, requiring prior approval for any RMB-pegged stablecoin issuance and warning that unlicensed tokenization activities will be treated as illegal financial operations.

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Why Everyone’s Wrong About the AI Services Market

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Crypto Breaking News

The opportunity isn’t that AI is new. It’s that most businesses still don’t understand it.

Everyone says the same thing: Build an AI agency. The market is wide open. They’re half right. The market is open, but not for the reasons people think.

The real opportunity isn’t that AI is new. It’s the intelligence gap—the distance between what’s possible and what businesses actually understand. And almost nobody is positioning themselves to profit from it.

The Numbers Are Misleading

1.3 billion people use free ChatGPT. Sounds massive until you realize 15-25 million pay for any AI tool, and only 2.5 million actively use AI for coding. These numbers collapse when you compare them to 400+ million businesses worldwide.

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Most businesses haven’t touched AI in any meaningful way. They heard the hype. Maybe they tried ChatGPT once to write an email. Then they forgot about it. The technology exists in their world as an abstract concept, not as a solution to their specific problems.

Here’s Where Most People Go Wrong

They chase tech companies. Startup founders. People who already understand AI. Why? Psychologically, it’s comfortable. These prospects get it. Conversations move faster. You don’t have to explain automation basics.

But strategically? It’s the worst market you could choose. You’re competing against thousands of other people with the same idea. Pricing is brutal. Margins evaporate. These companies shop aggressively because they understand your value.

The Smart Move: Chase “Boring” Industries

Dentists. Contractors. Accountants. Real estate brokers. Insurance agents. Dental practices. These industries have three things in common:

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  1. They make real money. An HVAC contractor who closes one extra job monthly from faster lead response doesn’t blink at a $500 retainer. That’s a 10-20x ROI.
  2. Zero AI competition. Nobody is systematically selling automation to dental offices. The market is massive and completely unsaturated.
  3. They refer constantly. These industries are tight-knit networks. One successful implementation leads to introductions to three more. Build once, sell six times.

The Framework That Changes Everything

Everyone knows they should chase boring industries. Almost nobody does. The gap between knowing and executing is where the real competitive advantage lives.

Here’s How to Position Correctly

  1. Identify their specific expensive problem. Not that they need AI. Something concrete. Leads going cold. Proposals taking three hours. Data scattered across systems.
  2. Quantify the cost. You’re losing 15 leads monthly because nobody answers the phone. That’s $75,000 in lost annual revenue.
  3. Show them a solution that costs 1% of that impact. A $400/month system that prevents 10% of those losses pays for itself in one week.

Suddenly you’re not expensive. You’re obviously cheap. This is how you close deals.

What This Means for You

Stop chasing prestige prospects. Stop trying to impress people who understand AI. Pick one unsexy industry—dentists, contractors, accountants. Go deep on understanding their specific problems. Learn their language. Build solutions to their expensive bottlenecks.

These business owners are hungry. They see the opportunity but don’t know how to implement it. They have money and they’re willing to spend it. And they’re desperately underserved by specialists who actually understand their business.

That’s the intelligence gap. And if you’re the one filling it, you win.

Risk & affiliate notice: Crypto assets are volatile and capital is at risk. This article may contain affiliate links. Read full disclosure

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Polymarket to rebuild engine, launch native dollar stablecoin

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Polymarket banned in Argentina after regulatory probe

Polymarket will rebuild its core engine, introduce a hybrid CLOB, and launch Polymarket USD, a USDC‑backed stablecoin on Polygon aimed at cheaper, more institution‑friendly trading.

Summary

  • Prediction market Polymarket plans its “largest infrastructure upgrade” in the next 2–3 weeks, overhauling its matching engine and smart contracts.
  • The upgrade will introduce a new hybrid CLOB model and a native stablecoin, Polymarket USD, pegged 1:1 to USDC on Polygon.
  • The changes aim to cut gas costs, boost efficiency, and make the platform friendlier to institutions via EIP‑1271 and multi‑sig support.

On‑chain prediction market Polymarket will roll out what it calls “the largest infrastructure upgrade since its launch” in the coming 2–3 weeks, rebuilding its core trading engine and debuting a native dollar stablecoin, Polymarket USD, according to plans shared with The Block. The company said the overhaul will “completely reconstruct” its matching engine via a new CTF Exchange V2 smart‑contract system, while introducing a native stablecoin pegged 1:1 to USDC to replace the current bridged USDC.e on Polygon. Existing order books will be cleared during the migration, with Polymarket promising to give users at least one week’s notice before maintenance begins.

At the heart of the upgrade is a redesigned Central Limit Order Book that uses a hybrid model of off‑chain order matching combined with on‑chain, non‑custodial settlement. In technical documentation for its CTF Exchange, Polymarket describes the architecture as a “hybrid‑decentralized model” where an operator handles off‑chain matching while settlement remains on‑chain, a setup it says optimizes “performance and security” for high‑volume event markets. The Block reports that CTF Exchange V2 will introduce new matching logic and order‑data structures intended to improve matching efficiency and reduce gas costs for traders.

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Polymarket has grown into one of the largest fully on‑chain prediction venues, recently drawing hundreds of millions of dollars in liquidity and a $600 million strategic investment from Intercontinental Exchange (ICE) as part of a broader bet on decentralized betting markets. ICE said its combined $1.6 billion of direct and secondary investment is not expected to be material to its financial results but positions the exchange operator as a key backer in what it calls a “David and Goliath battle” to bring prediction markets into the financial mainstream.

On the asset side, Polymarket USD formalizes a shift already underway in partnership with Circle to move from bridged USDC.e to native USDC on Polygon for all trading, order placement, and settlement. Circle has said native USDC, redeemable 1:1 for US dollars through its regulated entities, offers a “capital‑efficient” and more secure alternative to bridged tokens by eliminating cross‑chain bridge risk and tying collateral directly to its reserves. In line with that, Polymarket USD will be pegged 1:1 to USDC and used as the core collateral across the platform, with deposits from networks such as Ethereum, Solana, Arbitrum, and Base automatically converted into the new stablecoin on Polygon.

Polymarket will also add support for the EIP‑1271 (ERC‑1271) standard, allowing smart‑contract wallets such as Safe to validate signatures and trade directly, a move aimed at “expanding use cases for institutions and advanced users.” EIP‑1271 lets contracts define an isValidSignature method with arbitrary logic, making it easier for DAOs, funds, and multi‑sig setups to participate in non‑custodial markets without relying on externally owned accounts. The upgrade comes as competition in prediction markets intensifies, with Polymarket using performance, native dollar liquidity, and institutional‑grade wallet support to defend its lead in what it brands “The World’s Largest Prediction Market.”

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Bitcoin Profit Takers Keep BTC Price Action Away From $70,000 Reclaim

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Bitcoin Profit Takers Keep BTC Price Action Away From $70,000 Reclaim

Bitcoin found familiar resistance as it crossed the $70,000 mark to hit new April highs, with analysis blaming “profit-taking pressure.”

Bitcoin (BTC) coiled below $70,000 at Monday’s Wall Street open as analysis blamed profit taking for price inertia.

Key points:

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  • Bitcoin and stocks wobble as the US trading session begins amid nerves over the US-Iran war outcome.

  • Profit taking activity is keeping BTC price action away from a $70,000 reclaim, says research.

  • A Trader says $71,000 will act as fuel for a surge $10,000 higher.

BTC price meets “profit-taking pressure”

Data from TradingView showed BTC price action consolidating after hitting new April highs of $70,275 on Bitstamp.

BTC/USD one-hour chart. Source: Cointelegraph/TradingView

Market nerves over the US-Iran war resulted in uncertain trading, with US stocks treading water at the open.

Speaking to the media at a military event, US President Donald Trump reiterated earlier comments that Iran would “have no bridges” and “no power plants” unless a deal was reached.

“I won’t go further because there are other things that are worse than those two,” he told reporters.

Trump previously stated that the deadline for a deal was 8pm Eastern time on Tuesday.

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With price pinned below the $70,000 mark, onchain analytics platform Glassnode pointed to internal market forces as the reason for the lack of continuation higher.

“As price probed the $70K region, Realized Profit/hour spiked above $20M, signalling a local exhaustion,” it noted in a post on X

“A pattern consistent since February 2026: Every approach to the $70k–$80K band meets thin liquidity and profit-taking pressure, capping the bounce.”

Bitcoin realized profit chart. Source: Glassnode/X

Pseudonymous trader LP added that Mondays and Thursdays had seen the upper and lower end of the week’s trading range throughout 2026.

“Price pushed higher into Monday, increasing the probability of this pivot forming a weekly high. If the correlation continues to play out, this would suggest Thursday forms the low of the week,” they told X followers. 

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“Watch price action closely today and tomorrow, it will confirm whether this intra-week pivot resolved as a high or a low.”

BTC price chart. Source: LP/X

Bitcoin trader eyes $71,000 springboard

Continuing, crypto trader Michaël Van de Poppe said the line in sand for bears lay slightly higher than Monday’s current peak.

Related: First real bull signal since 2025? Five things to know in Bitcoin this week

“Pretty strong momentum on the markets of Bitcoin,” he wrote on X about the initial move to $70,000. 

“Volatility picking up, and I think it’s fireworks during this week as we might be getting to the end stage of the entire situation in the Strait of Hormuz. If Bitcoin breaks $71K, then markets are in for a test at $80K.”

BTC/USDT one-day chart. Source: Michaël Van de Poppe

Van de Poppe further cautioned on following blanket market consensus over new lows coming next.

“Given that all the markets are so oversold at this point, all on-chain indicators are looking overextended and are at similar levels to the bottom areas in 2018, 2020 and 2022, I wouldn’t be surprised that we’re getting a relief run that’s going to turn the sentiment quickly,” he concluded.