Cryptocurrency Analysis and News Portal
Besides asking the People’s Bank of China to rescind its crypto ban decision, Huang also shared his insights on what the apex financial regulator needs to do to boost the relevance of the digital yuan.Close to two years into the nationwide ban on crypto-related transactions, a former executive of the
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The Chinese central bank has launched smart contract functionality for its digital yuan amid new use cases.China recently launched smart contract functionality on its digital yuan via one of its prominent indigenous e-commerce apps, Meituan. Through this newly-enabled smart contract, users could win part of a daily monetary price ($1,312)
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The Chinese government designed the e-CNY as a digital payment instrument that can serve as a substitute for the fiat yuan in regular day-to-day activities.Xie Ping, the former Director General of Research at the People’s Bank of China (PBoC) has expressed dissatisfaction about the progress made thus far by the
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The People’s Bank of China (PBOC) has reminded financial technology (fintech) firms to comply with financial laws and regulations, in the central bank’s new set of guidelines released earlier this month.See related article: China has seen blockchain’s future and it doesn’t include cryptocurrencies Fast factsThe PBOC’s “Ethical Guidelines on Technology in
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People’s Bank of China, the central bank of the country, claimed in a recent note that China's share in the global Bitcoin (BTC) transactions has rapidly dropped from over 90% to 10%.The Financial Stability Bureau of the Chinese central bank released a comprehensive note on Wednesday discussing the impact of
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During a virtual video session at the Bank of Finland Institute for Emerging Economies' 30th Anniversary Conference, People's Bank of China governor Gang Yi discussed recent developments regarding the country's central bank digital currency, or CBDC, known as the digital yuan (e-CNY). Gang specifically addressed the issue of privacy surrounding
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China’s trials with central bank digital currency (CBDC) show no signs of slowing down, as the updated numbers for October 2021 were revealed at Hong Kong Fintech Week.Set out to replace cash in day-to-day transactions, the digital yuan (e-CNY) is gaining traction among individuals and corporates alike, according to the
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Bitcoin has been seeing constant gains over the past months while reaching new highs. Now it is trading at almost $60,000.The People’s Bank of China (PBoC) said that the increase in Bitcoin could be triggering interest in China’s digital yuan. China’s central bank tied the increasing interest in digital yuan
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Hong Kong Monetary Authority (HKMA), the city’s central banking institution, said it is working with the People’s Bank of China (PBOC) to test digital yuan use cases. PBOC’s Digital Currency Institute and the HKMA are discussing the technical pilot testing of using e-CNY for making cross-border payments while making the corresponding
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The governor of the People’s Bank of China praised recent tests of its national digital currency at the Hong Kong Fintech Week conference on Monday.Over 4 million transactions totaling more than 2 billion yuan ($299 million) have been conducted using the digital yuan, Yi said.Financial services in remote areas have
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