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AI in Finance and Banking March 31, 2025

LLRX

Pacifici highlights news, government documents, NGO/IGO papers, conferences, industry white papers and reports, academic papers and speeches, and central bank actions on the subject of AIs fast paced impact on the banking and finance sectors. s Existential Risk?;

Finance 103
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China authorities announce corruption charges against former chair of banking giant Everbright Group

JURIST

Tang Shuangning, the former Chairperson of state-owned Chinese banking behemoth Everbright Group, was arrested on charges of embezzlement, accepting bribes and “ privately reading publications with serious political problems, ” China’s Supreme People’s Procuratorate said on Monday.

Finance 257
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Russia central bank proposes wider ban on cryptocurrency usage and mining

JURIST

The Central Bank of Russia published a consultation paper Thursday proposing a stricter ban on the use and mining of cryptocurrencies within its territory. The anonymity offered by crypto platforms enables their use in illegal activities such as money laundering, terrorist financing, extortion, bribery and the drug trade.

Finance 211
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US imposes sanctions on multiple nations to curb Russian war capabilities in Ukraine

JURIST

The US Department of Treasury announced on Thursday a round of sanctions on 130 firms and people from Türkiye, China, and the United Arab Emirates (UAE) as it tries to restrict Russia’s access to essential tools and equipment that support its invasion of Ukraine. The sanctions also extend to three Chinese entities.

Finance 223
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Central America parliament addresses Taiwan status shift

JURIST

Citing United Nations Resolution 2758 , the Central American parliamentary assembly issued a statement affirming Taiwan’s designation as a “province of mainland China.” The vote tallied 73 in favor, 32 opposed, and 9 abstentions.

Finance 197
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Chinese Judicial Practice on Asymmetric Choice of Court Agreements in International Civil & Commercial Disputes

Conflict of Laws

C) This Clause is for the benefit of the Finance Parties only. As a result, no Finance Party shall be prevented from taking proceedings relating to a Dispute in any other courts with jurisdiction. To the extent allowed by law, the Finance Parties may take concurrent proceedings in any number of jurisdictions. [2]

Court 45
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China Communist Party expels two former defense ministers from party for alleged bribery

JURIST

The Communist Party of China (CPC) expelled two of its former defense ministers had been expelled from the party Thursday, citing the reasoning of “serious violation[s] of Party’s discipline and the law,” according to government news agency Xinhua. The ministers in question are Li Shangfu and Wei Fengh.

Finance 104