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As the pilot program for China's central bank digital currency (CBDC), the digital yuan, takes off, Chinese business travelers will reportedly be able to pay for flight tickets using the new currency. A collaboration between China Merchants Bank, a commercial banking firm and the Civil Aviation Administration led to the introduction
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Jinan, the capital of Shandong Province in eastern China, has taken a proactive stance in promoting the use of China’s central bank digital currency (CBDC) by initiating digital yuan payments on all of its bus routes. Initially,
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Jinan, the capital of eastern China’s Shandong Province, has started encouraging the adoption of the country’s central bank digital currency (CBDC) by introducing digital yuan payments across all its bus routes.In its pilot phase, the city tested the introduction of CBDC payments on two bus lines. Following the trial period, the
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On the latest episode of Cointelegraph’s Macro Markets, analyst Marcel Pechman explores how Turkey’s recent interest rate increase might attract hundreds of millions of new cryptocurrency investors, and how China’s looming economic crisis could affect Bitcoin (BTC) and crypto globally.Turkey’s central bank has increased the interest rate by 6.5% to 15%
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied On June 22, authorities in Libya searched and arrested several individuals as part of their efforts to combat illegal crypto mining in the country. The raid in a data center resulted in the detention of 50
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Kwon’s denial comes as a response to the accusations linking him to the forged travel documentation and alleged financial ties with Milojko Spajić. The Terra founder asserts that these claims are baseless, denying personal involvement. Terraform Labs co-founder and CEO Do Kwon has reportedly denied allegations of passport forgery, shifting the
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Terraform Labs founder Do Kwon told a Montenegro court that he wasn’t aware the passport he was traveling with was allegedly forged and instead pinned the blame on a Chinese-named agency.In a June 17 report from South Korean news outlet Segye Ilbo, Kwon told the Montenegrin Basic Court he received
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Stablecoin-issuer Tether has published a lengthy response to reports that the reserves of Tether (USDT), one of the largest stablecoins, once included securities issued by Chinese companies. On June 16, mainstream media outlets including Bloomberg reported that the company once used held securities issued by Chinese state-owned firms. Bloomberg cited documents
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The move represents the first attempt by any Chinese financial institution to issue a tokenized security in Hong Kong. Bank of China Investment (BOCI) has issued 200 million Chinese yuan ($28 million) worth of digital structured notes. Minted on the Ethereum blockchain, The move represents the first attempt by any Chinese
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The PBOC's managed float allows the yuan to fluctuate 2% on either side of daily fix, and the bank manages that band via active buying and selling of yuan. If USD/CNY threatens to rally beyond the 2% limit, for instance, the PBOC sells the dollar and buys yuan to shore
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