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On September 15th, data from the National Bureau of Statistics showed that in August, the year-on-year decline in new residential property prices in first-tier cities was 0.9%, a decrease of 0.2 percentage points compared to the previous month. Specifically, prices in Beijing, Guangzhou, and Shenzhen fell by 2.3%, 1.9%, and 2.3% respectively, while Shanghai saw an increase of 3.0%. In second- and third-tier cities, the year-on-year declines in new residential property prices were 2.7% and 4.1% respectively, both narrowing by 0.1 percentage points. In August, the year-on-year decline in existing residential property prices in first-tier cities was 2.7%, a decrease of 1.0 percentage point compared to the previous month. Specifically, prices in Beijing, Shanghai, Guangzhou, and Shenzhen fell by 3.5%, 0.8%, 3.8%, and 2.7% respectively. In second- and third-tier cities, the year-on-year declines in existing residential property prices were 4.9% and 5.6% respectively, both narrowing by 0.2 percentage points.New Residential Housing Prices: 1. Beijing: August new residential housing prices -0.2% month-on-month (previous value -0.3%), -2.3% year-on-year (previous value -2.3%). 2. Shanghai: August new residential housing prices +0.4% month-on-month (previous value +0.2%), +3.0% year-on-year (previous value +3.0%). 3. Guangzhou: August new residential housing prices +0.1% month-on-month (previous value +0.1%), -1.9% year-on-year (previous value -2.2%). 4. Shenzhen: August new residential housing prices +0.2% month-on-month (previous value +0.2%), -2.3% year-on-year (previous value -2.9%). Second-hand Residential Housing Prices: 1. Beijing: August second-hand residential housing prices -0.1% month-on-month (previous value 0.0%), -3.5% year-on-year (previous value -4.5%). 2. Shanghais existing home prices in August increased by 0.3% month-on-month (previous value +0.3%) and decreased by 0.8% year-on-year (previous value -2.0%). 3. Guangzhous existing home prices in August remained unchanged month-on-month (previous value +0.4%) and decreased by 3.8% year-on-year (previous value -4.7%). 4. Shenzhens existing home prices in August increased by 0.1% month-on-month (previous value +0.2%) and decreased by 2.7% year-on-year (previous value -3.6%).National Bureau of Statistics: Beijings second-hand housing prices in August decreased by 0.1% month-on-month (previous value +0%) and decreased by 3.5% year-on-year (previous value -4.5%).According to the National Bureau of Statistics, the price of second-hand residential properties in Shenzhen rose 0.1% month-on-month in August (up 0.2% in the previous month) and fell 2.7% year-on-year (down 3.6% in the previous month).September 15th - The 2026 China Carbon Market Conference was held in Wuhan, Hubei Province this morning, and the "National Carbon Market Development Report (2026)" was released at the conference. Reporters learned that as of the end of August, the national carbon emission trading market had accumulated transactions exceeding 900 million tons, with a transaction value exceeding 60 billion yuan. The national carbon market has grown from nothing to a significant stage, playing a crucial role in promoting the achievement of carbon peaking and carbon neutrality goals.

Coinbase backs lawsuit against U.S. Treasury over Tornado Cash sanctions

Skylar Shaw

Sep 09, 2022 15:21

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On Thursday, cryptocurrency exchange Coinbase said that it was sponsoring a lawsuit against the U.S. Treasury Department to prevent penalties prohibiting Americans accessing Tornado Cash, a virtual currency mixer suspected of assisting hackers in repurchasing stolen data.


Six Tornado Cash users have claimed the Treasury Department of breaching their constitutional rights to free expression and exceeding its jurisdiction by shutting down the cryptocurrency exchange in a complaint that was filed on Thursday in a federal district court in Texas.


In response to claims that Tornado Cash had allegedly laundered virtual money worth more than $7 billion, the Treasury Department placed penalties on the company last month. According to the department, some of the funds went to hackers supported by the North Korean government.


On the Ethereum network, there is a well-known decentralized application called Tornado Cash. The web solution enables concealment of the origin or destination of digital payments, therefore enhancing their anonymity.


When the penalties were put in place on August 8, Tornado Cash remained silent about them, and there was no way to instantly get in touch with anybody who worked for the platform.


The complaint argued that although the Office of Foreign Assets Control (OFAC) of the Treasury Department has some control over sanctions, it does not have any authority over smart contracts or software code.


Tornado Cash isn't a real person, thing, or group of people. It is a decentralized, open source software initiative that gives Ethereum users some privacy back, according to the complaint.


The Treasury Department went too far, according to Coinbase CEO Brian Armstrong, "by penalizing a whole technology instead of particular people," in a blog post.


Several innocent users now have their cash locked and no longer have access to a crucial privacy tool as a consequence of these penalties, Armstrong said. "[There] are legal uses for this sort of technology."


An inquiry for comments was not immediately answered by the Treasury Department.


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