来源：FT中文网 美国抓捕马杜罗对美元有直接的负面影响，同时，对人民币国际化有间接的正面影响。 文丨李楠、陈开宇 2026新年伊始，美国发动了对委内瑞拉的军事袭击，堪比好莱坞编剧设计的剧情，美国特种兵成功地抓捕了委内瑞拉总统马杜罗，并押送回美国受审。国 际社会一片哗然，此事件对国际秩序、军事线路、国际法、地缘政治等多方面的影响众说纷纭。本文重点讨论此事件对美元、虚拟货币和人民币国际化的 影响。 我们认为，美国抓捕马杜罗对美元有直接的负面影响，会推高虚拟货币的价格和波动，同时，对人民币国际化有间接的正面影响。 一、美元霸权走弱源自美国财政的"滞胀循环" 2026年极可能爆发历史上最大的全球金融危机，而这个危机的根源来自于美元。 其次，美元的信任基础在快速削弱。从"长臂管辖""踢出SWIFT"等手段开始，美元开始不受信任。世界上主要大宗商品交易中，使用美元的比重正在下 降；中国的CIPS交易量屡创记录。 其三，美元和美债作为外汇储备资产的吸引力在下降。2025年，各国央行的黄金储备量增加，推动了主要的避险资产黄金的价格屡创新高，甚至已经不再 是避险资产的白银等贵金属的价格也创记录地大涨。 在世界对美元信心不断削弱 ...

Core Viewpoint - The U.S. stock market experienced a significant decline, influenced by President Trump's announcement to prohibit large institutional investors from purchasing single-family homes, raising concerns about the housing market and economic slowdown [1][2][3]. Group 1: Stock Market Performance - The U.S. stock market saw most indices decline, with the Dow Jones dropping nearly 1% and the S&P 1500 residential construction index falling by up to 2.2% [1]. - Blackstone's stock plummeted by as much as 9.3%, while major banks like JPMorgan, Goldman Sachs, and Citigroup also experienced declines [2]. - The overall sentiment in the market was negative, with significant drops in energy stocks, including ExxonMobil and Chevron [3]. Group 2: Housing Market Impact - President Trump's proposed measures aim to make housing more affordable for Americans by restricting institutional investors from buying single-family homes, which he claims has made homeownership increasingly unattainable for many, especially young people [2]. - Analysts express skepticism about the actual impact of the ban on housing prices, noting that institutional investors hold a relatively small share of the overall market [3]. Group 3: Economic Indicators - The U.S. private sector added 41,000 jobs in December, which was below the market's expectations of approximately 50,000 [5]. - Mortgage rates decreased from 6.32% to 6.25%, the lowest since September 2024, but this decline did not stimulate mortgage demand, as applications fell by 9.7% during the holiday period [4].

中经记者 谭志娟 北京报道 新一年央行工作重点正式明晰。 强化虚拟货币监管 在金融监管层面，会议明确提出，进一步提升金融管理和服务能力，强化虚拟货币监管，持续打击相关 违法犯罪活动。 虚拟货币是指非货币当局发行的数字化形式货币，在我国不具有法定货币地位，相关交易活动属于非法 金融活动。 南开大学金融发展研究院院长田利辉在接受记者采访时表示，强化虚拟货币监管的核心在于捍卫金融主 权、维护系统性金融稳定。"虚拟货币本质上是一种由私人部门发行、依托算法信用的'私人货币实 验'，具有明显的去中心化特征。" 田利辉认为，虚拟货币主要带来三方面挑战：一是其匿名性、跨境流动性容易成为洗钱和非法资本流动 的"技术暗渠"，侵蚀国家金融管理边界；二是价格高度投机化，易催生脱离实体经济的金融泡沫，相关 风险可能向传统金融体系传导；三是若任其无序发展，可能干扰甚至部分削弱主权货币的支付和计价功 能，影响货币政策传导效果，冲击国家资本管理秩序。 2026年中国人民银行工作会议于1月5日至6日召开。会议系统总结了2025年工作，分析当前经济金融形 势，研究中国人民银行"十五五"改革发展规划，并对2026年重点任务作出部署。 根据会议安排 ...

魔幻与现实："倒闭"车企的尽头是虚拟货币。 作者｜张麟 编辑｜王博 当今中国汽车市场的魔幻在于，如果一家车企倒闭，它可能会在虚拟货币市场获得重生。 但在12月8日，极越汽车临时管理人却发布了一条公告，表示公司资产存在被非法侵占的情况，通知债权人不要占用、拆解和变卖极越汽车及生产设备。 可谓狼狈至极。 12月初，社交平台上出现了一个视频，一个亚裔面孔的中年男性，操着一口流利但有口音的英语，兴奋地介绍新能源汽车和数字经济之间的联系，他是 Robo.ai的CEO本杰明·翟彬（Benjamin Zhai），而他的身旁是一辆极越汽车。 此时距离极越汽车暴雷倒闭已经过去了一年左右的时间，在这一年中，极越汽车曾被传有望完成重组并回归市场，但目前并没有实质性的结果，反而 其"汽车机器人"的产品标签引起了虚拟货币公司的兴趣。 事实上，"破产-重组无望-被虚拟货币关注"几乎是目前大部分经营不善的新能源汽车公司都会出现的剧情，此前的高合、现在的极越，以及远在大洋彼 岸，苦苦支撑的法拉第未来，都经历过这样的产业循环。 但在观察到这种产业怪相后，问题也随之而来：这背后有怎样的现实困境？为什么这些经营不善的车企会被币圈盯上？虚拟货币真的 ...

Core Viewpoint - A robbery occurred in Hong Kong, where four armed assailants stole approximately 1 billion Japanese yen (around 44.7 million RMB) from two employees of a Japanese company involved in cryptocurrency and luxury goods [1][3]. Group 1: Incident Details - The robbery took place on December 18 at around 9 AM near New Era Plaza on Queen's Road Central, where the victims were preparing to exchange a large sum of money [1][3]. - The assailants, armed with a 20 cm long knife, executed the robbery in about 30 seconds, swiftly transferring the cash-filled suitcases to their getaway vehicle [3][5]. - The police reported that the robbery was well-planned, with the criminals having surveilled the area prior to the incident [5]. Group 2: Police Investigation - The Hong Kong police have arrested 15 individuals connected to the robbery, including the mastermind, with some having ties to organized crime [1][5]. - Among those arrested, seven individuals have been formally charged with conspiracy to commit robbery [5]. - Evidence collected includes a knife, masks, and other items found in the getaway vehicle, while the stolen cash remains unaccounted for [7].

Group 1 - A robbery occurred in Hong Kong on December 18, where four armed assailants stole approximately 1 billion Japanese yen (around 45 million RMB) from two employees of a Japanese company involved in cryptocurrency and luxury goods [2][3][4] - The police have arrested 15 individuals, some of whom have ties to organized crime, and 7 of them have been formally charged with conspiracy to commit robbery [6][7] - The robbery was executed in a highly organized manner, taking only about 30 seconds to complete, indicating careful planning and coordination among the assailants [6][7][8] Group 2 - The assailants used a vehicle to escape the scene and quickly transferred the stolen cash to a second getaway vehicle, demonstrating a high level of teamwork and efficiency [6][7] - Evidence collected at the scene included a knife believed to have been used in the robbery, masks, and drink bottles, while the stolen cash has not yet been recovered [8] - The police are actively pursuing the whereabouts of the stolen money and do not rule out the possibility of further arrests in the coming days [8]

Core Viewpoint - The article highlights the risks associated with high-yield virtual currency investments, revealing common scams and the need for increased public awareness and regulatory scrutiny [1][4]. Group 1: Investment Risks - A recent court case in Shanghai involved a high-yield promise of 292% annual returns from a virtual currency investment platform, which turned out to be a scam [3]. - The investor was initially lured by a guarantee of returns and fake profit feedback, leading to significant financial losses when the platform ceased operations [3][9]. - Various scams involve creating fake trading platforms, misleading price data, and emotional manipulation to entice victims into investing [9][10]. Group 2: Regulatory Environment - Regulatory bodies have consistently emphasized that virtual currencies should not be treated as legal tender and that related activities are illegal financial operations [12][14]. - The Chinese government has a history of strict regulations against virtual currencies, dating back to 2013, with ongoing efforts to combat illegal activities associated with them [12][13]. - Recent warnings from regulatory authorities highlight the risks of new concepts like stablecoins and the need for public vigilance against fraudulent schemes [13][14].

Core Viewpoint - The joint risk warning issued by seven associations in China emphasizes the illegal activities associated with virtual currencies and related tokens, urging institutions and the public to remain vigilant against potential fraud and illegal fundraising activities [1][2]. Summary by Sections Nature of Virtual Currencies - Virtual currencies are not issued by monetary authorities and do not hold the same legal status as national legal tender, thus cannot be circulated as currency within China [2]. - Activities involving the exchange of legal currency for virtual currencies, issuance of real-world asset tokens, and related financing are considered illegal financial activities [2]. Institutional Responsibilities - Financial institutions, including banks and payment service providers, are prohibited from offering services related to the issuance and trading of virtual currencies and real-world asset tokens [3]. - Institutions must conduct due diligence to identify potential risks associated with virtual currencies and report any suspicious activities to relevant authorities [3]. Public Awareness and Precautions - The public is advised to be highly cautious of various forms of virtual currency and real-world asset token activities, including avoiding promotional groups and being wary of false claims regarding high returns [3][4]. - Experts recommend that ordinary investors adhere to the "three no" principles: do not participate in virtual currency trading, do not trust high-yield claims, and do not spread related promotional information [4].

Core Viewpoint - The article discusses the recent joint efforts by seven associations in China to issue a risk warning against illegal activities related to virtual currencies and real-world asset tokens, emphasizing that these currencies are not recognized as legal tender and pose significant risks [3][4][5]. Group 1: Regulatory Actions - Seven associations, including the China Internet Finance Association and the China Banking Association, have issued a risk warning prohibiting their members from participating in virtual currency and real-world asset token activities within China [3][4]. - The People's Bank of China and 13 other departments have defined stablecoins as a form of virtual currency and are committed to combating illegal financial activities related to virtual currencies [3][4]. Group 2: Risks Associated with Virtual Currencies - The warning highlights that virtual currencies, such as π coins, lack substantial technological innovation and clear commercial applications, making them susceptible to fraud and market manipulation [5][6]. - The article notes that the volatility of virtual currencies, exemplified by Bitcoin's price fluctuations, can lead to speculative trading and illegal activities, including Ponzi schemes [7]. Group 3: Prohibitions for Financial Institutions - Financial institutions, including banks and payment service providers, are prohibited from offering services related to the issuance and trading of virtual currencies and real-world asset tokens [6]. - Internet platform companies are also barred from providing marketing or technical services for virtual currency activities, ensuring compliance with regulatory requirements [6].

Core Viewpoint - The People's Bank of China emphasizes the need to combat virtual currency trading and related speculative activities, highlighting the risks associated with various forms of virtual currencies and tokenization of real-world assets [1][2]. Group 1: Risk Warnings - Seven associations, including the China Internet Finance Association and the China Banking Association, jointly issued a risk warning regarding illegal activities related to virtual currencies, including false asset risks and speculative trading risks [1][2]. - The warning specifically includes risks associated with stablecoins and real-world asset tokens, which have gained popularity in 2025, with domestic companies participating in related activities in Hong Kong [2]. Group 2: Regulatory Actions - Financial management authorities in China have not approved any activities related to the tokenization of real-world assets, and engaging in such activities may lead to illegal financial operations [2][4]. - Institutions are prohibited from conducting any business related to virtual currencies and real-world asset tokens, and must not provide financial services or credit support to virtual currency mining projects [4]. Group 3: Public Awareness - The public is urged to remain vigilant against various forms of virtual currency and real-world asset token activities, as these are often associated with speculative trading and fraudulent schemes [4][5]. - Despite the prohibition of virtual currency trading, there are still reports of individuals attempting to recruit new users for virtual currency speculation through online platforms [4][5].