Tag: digital yuan

Sep 26 2022

China arrests 93 people suspected of laundering 40B RMB via crypto

Sep 26 2022 Published at CryptoSlate under tags  cbdcs china digital yuan

China's Hengyang County Public Security Bureau arrested 93 suspects involved in laundering 40 billion RMB via cryptocurrencies, local media reported on Sept. 25. According to the report, the criminal group was involved in more than 300 cases of fraud and had been operating since 2018. Authorities in the county started investigations after the director of the County Public Security...

Sep 21 2022

CBDC Wars: Why The U.S. Must Create Its Own Stablecoin To Compete With China

Sep 21 2022 Published at Bitcoinist.com under tags  bitcoin blockchain cbdc cbdc wars crypto

The United States is embarking on a campaign toward the introduction of a CBDC, or central bank digital currency. As part of the White House's first- ever comprehensive framework, the Treasury Department is now suggesting the creation of a national stablecoin or CBDC. To counter China's advancements on the CBDC, five panelists at a hearing for the U.S. House Committee on Financial Services on...

Sep 19 2022

China’s Digital Yuan Faces Strict Disclosure Policy From Australian Lawmaker

Summary: Senator Andrew Bragg proposed a crypto bill to facilitate tight disclosure requirements. The bill targets China's Digital Yuan as Beijing tests cross-border utility for the central bank's digital currency. Nine U.S. lawmakers also developed a bill to mitigate possible risks from the widespread use of China's CBDC. Bragg further proposed a crypto licensing regime for exchanges, stablecoin issuers, and other digital asset...

Jul 25 2022

China to respect privacy of digital yuan users, eyes more adoption

Jul 25 2022 Published at CryptoSlate under tags  cbdcs china digital yuan privacy

A senior Chinese central bank official, Mu Changchun, said the country will respect digital yuan users' privacy and protect their personal information, Reuters reported on July 25. According to Changchun, the...

Jun 15 2022

Here’s How China Is Expanding Digital Yuan Adoption

Jun 15 2022 Published at Coingape under tags  china ban digital yuan news

China has been working intensively on its digital yuan for its population. The nation has pushed ahead with its plans of using e-CNY beyond the retail consumer. e-CNY carries zero service charge According to a report, the digital yuan has been used to grant loans to small and medium enterprises in the three different cities...

May 31 2022

China Plans To Airdrop Digital Yuan To Boost Its Pandemic Hit Economy

May 31 2022 Published at Bitcoinist.com under tags  cbdc china crypto news digital yuan

China's City of Shenzhen has decided to airdrop 30 million digital Chinese Yuan (e-CNY) in red envelops with the help of a lotter program. This move will be introduced in order to revive consumer spending amidst a pandemic hit economy. This airdrop will be directed towards the local residents in attempts to revive economic conditions which have been affected by the lockdown. Several...

Apr 30 2022

As A Part Of CBDC Testing Chinese Residents Receive Digital Yuan

Apr 30 2022 Published at Bitcoinist.com under tags  altcoin news cbdc china digital yuan

Shenzhen residents are all set to receive digital Yuan worth $2.29 million as part of the Central Bank Digital Currency (CBDC) testing. The Chinese government will be giving these 15 million Yuan in CBDC to 130,000 residents. This CBDC will be eligible to be used at over 5,000 stores with no such minimum purchase required. The People's Bank Of China is...

Apr 29 2022

Chinese Residents start paying taxes, other charges with digital yuan

Apr 29 2022 Published at Coinscreed under tags  china digital yuan news taxes

Residents in three major Chinese cities have begun paying taxes, stamp duty, and social security contributions in the digital yuan (e-CNY), the country's central bank digital currency (CBDC). According to a domestic news article, a number of government entities in Zhejiang province, which is located just south of Shanghai, are currently conducting real-world trials involving […]

Apr 05 2022

PBoC: Digital yuan trial expands to 11 more cities

Apr 05 2022 Published at CryptoSlate under tags  adoption cbdc cbdcs china digital yuan

On March 31, 2022, the People's Bank of China held a symposium on the pilot work of digital RMB (digital yuan) research and development to summarize the preliminary research and development pilot work, and arrange the deployment of the next stage of work. Present at the symposium were Yi Gang, Governor of the People's Bank of China, and...

Mar 17 2022

Just-In: Architect of China’s CBDC Calls For More Web3 Development

Yao Qian, a key developer in China's central bank digital currency (CBDC) project, called on the Chinese government to increase the development of web3 technology. In an academic article, Qian said strengthening web3 research was important to China's future internet infrastructure. Qian had led the People's Bank of China's digital currency initiative. He then served...

Russia sanctions could push other countries to develop their CBDCs

Banking executive Hiromi Yamaoka believes that the conflict in Ukraine could influence central bank digital currencies (CBDCs) policy globally. The former head of payments and settlements department at the Bank of Japan sees countries such as China exploring CBDCs to counter the dominance of US dollars. China, others could explore CBDC to counter US Dollar dominance...

Feb 16 2022

Digital Yuan Enjoys Adoption At Beijing Winter Olympics, Over $300k Payment Made Per Day

The 2022 Winter Olympics in Beijing were the first time the entire world heard about China's first official digital currency: the digital yuan. According to a Reuters report quoting officials from the People's Bank of China (PBoC), the 2022 Winter Olympics participants, tourists, and organizers might be...

Feb 10 2022

China’s Winter Olympic Digital Yuan Off to a Slow Start

The much-hyped People's Bank of China (PBoC) digital yuan has had a slow start. This comes despite the state pushing it as the primary online payments method at the Winter Olympics. China’s grand plans of pushing its central bank digital currency (CBDC) to foreigners for the first time have had a shaky start. The...

Feb 09 2022

China’s Winter Olympic Digital Yuan Is Not Attracting The Locals And Foreigners

China debuted its homegrown digital yuan at the 2022 Beijing Winter Olympics on Friday last week, in an effort to assert its competency in the international community. However, it appears that some locals, foreign visitors, and officials are not completely impressed with the digital token. The digital CNY (e-CNY) was not widely used at...

Jan 06 2022

Breaking: China’s largest messaging and payment app WeChat to integrate Digital Yuan

Jan 06 2022 Published at Coingape under tags  blockchain news btcbrl btcbusd btcdai btceur

WeChat, China's largest social messaging and payment app that boasts of over a billion users is all set to integrate the digital yuan payment option on its platform. In...

Jan 04 2022

China launches digital yuan wallet pilot for android and iOS

Jan 04 2022 Published at Coingape under tags  beijing blockchain news btcbrl btcbusd btcdai

China has launched the digital wallet pilot for its digital yuan (e-CNY) on Andriod and iOS platforms. The...

Nov 26 2021

Nov 24 2021

70 Japanese Companies Form Consortium to Launch Yen-based Digital Currency

Nov 24 2021 Published at Coingape under tags  bank of japan cbdc dcpjy decurret digital yuan

In a bid to launch a new yen-based digital currency in 2022, about 70 Japanese companies have come together to form a consortium. The association which has some of the country’s biggest financial institutions joining in, is sending a strong signal that the private sector may have just started embracing blockchain-based payment systems too. 70 The post 70 Japanese Companies Form Consortium to...

Nov 11 2021

Breaking: Chinese E-Commerce Giant Record $15.6 Million in Digital Yuan Transactions on Singles Day

Nov 11 2021 Published at Coingape under tags  blockchain news btcbrl btcbusd btcdai btceur

China is currently in the second year of mass testing its national digital currency called digital yuan (e-CNY) with no fixed schedule for an official launch. However, that has not stopped the Chinese e-commerce giant JD.com from adding it to their payment option for the ongoing Singles Day, considered to be the biggest shopping event The post Breaking: Chinese E-Commerce Giant Record $15.6...

Nov 09 2021

Know a good blog/source that is not listed? Contact us or fill the form below to add one: