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Standard Chartered joins China’s CBDC pilot testing

British multinational bank Standard Chartered will partake in trials of China's digital yuan central bank digital currency (e-CNY CBDC), one of the first foreign banks to do so in the country.According to the Nov. 27 announcement, Standard Chartered, through its partner City Bank Clearing Services Co., will allow its clients

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U.S. policymakers introduce bill targeting China’s digital yuan

Senator Rick Scott introduced a prohibition act seeking to bar U.S. financial service operators from interacting with China’s central bank digital currency (CBDC). The so-called Chinese CBDC Prohibition Act would ban U.S. post offices, remittance firms, peer-to-peer crowdfunding platforming and all money services businesses from facilitating any transaction that involves China’s

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US official confirms military concerns over China’s access to cloud technology

United States Undersecretary of Commerce for Industry and Security Alan Estevez recently told reporters at an event in Tokyo that the U.S. is looking to crack down on Chinese access to U.S. cloud-based technologies.Speaking to journalists at the Mount Fuji Dialogue policy forum on Oct. 21, Estevez confirmed reports that

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China’s Digital Yuan (e-CNY) Used in First International Crude Oil Trade by CBDC: Report

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.The leader in news and information on cryptocurrency, digital assets and the future of money, CryptoX is a media outlet that strives for the highest journalistic standards and abides by a

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China’s Central Huijin Investment Bolsters Stake in Top 4 Banks to Stabilize Stock Market amid Economic Challenges

This strategic investment, totaling around $65 million, translates to approximately 0.01 percentage point in each bank. The impact on the market was immediate and substantial, with shares of these major banks soaring between 2.43% and 4.73% in the early hours of Thursday. China’s sovereign wealth fund, Central Huijin Investment Ltd, has

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China’s Digital Yuan Wallet Enables Visa and Mastercard ‘Pre-Charge’ for Tourists

Tourists have the option of re-loading their e-CNY wallets with physical cash at local banks and reverting any balance left over to their original bank card or account. China’s digital yuan app now has a “recharge first and use later” feature that allows tourists to top up their wallets using Mastercard

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