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New DeepSeek ban in US, Swiss-Asia crypto ties deepen: Asia Express

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New DeepSeek ban in US, Swiss-Asia crypto ties deepen: Asia Express

DeepSeek banned from US federal civilian agencies over spying fears. Singapore firm behind Europe’s only spot Bitcoin ETF, as Switzerland partners with Vietnam on crypto tech.

The US Treasury has proposed new rules that would block investment in artificial intelligence projects (sorry, ‘Super Intelligence’ projects) and certain high risk semiconductors in some foreign countries.

The blocks have been mainly aimed at geopolitical rival China, but will now also encompass other adversaries including Russia, Iran, North Korea and Cuba. The rules would implement the COINS Act from December 2025 and expand the Outbound Investment Security Program that went into effect in January 2025.

They rules build on previous restrictions on selling high powered AI chips to China. The US is backing up its threats too, having announced the first $200,000 penalty this month to Amidi, LLC. Treasury for failing to report an investment by its Chinese subsidiary into embodied AI and robotics company Shanghai Qiongche Intelligent Technology (AKA Noematrix.)

The US Department of Homeland Security has ordered the removal of DeepSeek products from federal civilian agency IT systems.

The order, filed on Monday, also covers DeepSeek affiliates and third-party products and services developed using DeepSeek implementations while prohibiting affected agencies from making new purchases.

DHS warned that use of DeepSeek by government employees and contractors could expose sensitive information to China, potentially revealing details about US citizens and federal programs.

The Solana Accelerate event in Shanghai was postponed after pre-registration exceeded the event cap set by local authorities, according to Lily Liu, president of the Solana Foundation.


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