A court in Honggang District, Daqing City, Heilongjiang Province, ruled that two men were convicted of stealing electricity by illegally tapping an oil-field high-voltage power line to power Bitcoin mining. The principal offender, Zhang, was sentenced to 10 years in prison and fined 50,000 yuan, while the accomplice, Zhao, was sentenced to 4 years and 10 months and fined 20,000 yuan. The total value of the stolen electricity exceeded 800,000 yuan.

The Yinchuan City Xingqing District People's Court concluded a virtual currency investment dispute case. The plaintiff, Mr. Wei, entrusted the defendant to invest, and later, after requesting repayment due to an urgent need for funds and failing to obtain it, brought a lawsuit for "unjust enrichment." The court held that the matter should be governed by a mandate contract relationship, and ultimately, through mediation, the plaintiff withdrew the lawsuit and Li returned the invested principal, and both parties reached a settlement.

The Yinchuan City Xingqing District People’s Court concluded a civil and commercial dispute involving entrusted investment in virtual currency. The plaintiff sought repayment of the investment funds but did not obtain it, and therefore filed a lawsuit based on unjust enrichment. The court determined that the relationship was one of an entrusted contract, facilitated a mediation, and reminded investors to be mindful of legal risks.

Maxine Waters, Chair of the U.S. House Financial Services Committee, sent a letter to the Federal Reserve Bank of Kansas City’s president, asking for a detailed explanation of the approval process for Payward Financial—an “account with limited purpose”—opened for cryptocurrency exchanges, and focusing on the scope of the relevant services, risk management requirements, and regulatory review, while expressing concerns about the account’s policies and consumer protection issues.

On March 27, U.S. Representative Maxine Waters sent a letter to Federal Reserve Bank of Kansas City President Jeff Schmid requesting information about the approval process for Kraken Financial's limited-purpose master account, including permissions, access to Federal Reserve services, and related compliance measures. A response is requested by April 10.

The Guangzhou Municipal People's Government has issued the "Implementation Plan for Promoting High-Quality Development of the Artificial Intelligence Industry in Guangzhou," encouraging breakthroughs in key technologies. The focus is on computing power, data, algorithms, and other areas, promoting AI chips, dynamic scheduling technology, and multimodal data fusion. The plan aims to advance automation toolchains in industrial quality inspection and financial risk control fields.

Baltimore City has filed a lawsuit against Elon Musk’s X Corporation and its AI tool Grok, alleging that they generated sexualized images without consent and involved content involving minors, violating the Consumer Protection Law. This case marks progress in local government efforts to advance AI regulation in the absence of federal legislation, and may impact future legal liability for AI companies.

Gate News reports that on March 23, according to Gate market data, as of press time, JCT (Jade City) reached a high of 0.00488197 USD and pulled back to a low of 0.00246984 USD, with 24-hour trading volume reaching 55.37 million USD. Jade City is a GPU resource sharing platform dedicated to providing services for AI products. The platform offers resource sharing services including computing power, storage, and data, allowing users to lease various service resources through Jade City. The platform employs distributed GPU pooling technology to provide efficient resource scheduling, building GPU collaboration clusters and enabling instant access to GPU resources. Jade City provides secure peer-to-peer network services through a P2P resource sharing network, enabling fast and seamless

Police in Wanshan District, Tongren City, Guizhou Province, China have cracked a virtual currency trading fraud case. The victim was defrauded of 7118 USDT, equivalent to over 50,000 yuan. The scammers used read-only wallets and cash displays to gain trust before quickly transferring assets. Police remind the public that virtual currency trading carries high risks and requires careful verification of wallet address authenticity.

The Procuratorate of Yuetang District, Xiangtan City, Hunan Province announced a verdict in a money laundering case. Eight defendants were sentenced for concealing telecom fraud proceeds through virtual currency and counterfeit Moutai liquor transactions, with the case involving more than 6.84 million yuan. The criminal group used sophisticated methods to disguise illegal proceeds as legitimate income. They were ultimately discovered by police and subjected to a full-chain crackdown.