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Authorities from the Hainan province in southern China have vowed to increase oversight on the nonfungible token (NFT) sector to “promote the healthy development” of the sector and to stomp out fraud and other associated risks. In a separate announcement, the People’s Bank of China (PBoC) also announced that it
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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 smart contracts used by Meituan are used to divide up a daily prize of 8,888 RMB ($1,312), according to local media outlet 8btc, which is focused on cryptocurrency and Web3 reports, and other mainstream internet media outlets in China. When a user places an order with the app and
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The People's Bank of China included e-CNY, the country's digital currency, in calculations of the amount of currency in circulation for the first time. Source
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Trials of the digital yuan have produced disappointing results, according to a report quoting the former head of research at the Chinese central bank. The new form of national fiat has brought no benefits to the banks and should expand beyond being employed only as a substitute for cash, the
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A former official of the People’s Bank of China (PBOC), the country’s central bank, has expressed disappointment that China’s digital yuan is seeing little use.Xie Ping, a former PBOC research director and current finance professor at Tsinghua University, made critical public comments about China’s central bank digital currency (CBDC) at
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A Russian company has announced the country’s first authorized transaction with digital financial assets (DFAs) involving a foreign currency, China’s yuan. The deal, reportedly the largest made to date under the current Russian DFA law, covers the issuance of tokens secured by commercial debt. Digital Financial Assets for 58 Million Yuan
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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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Chinese central bank governor Yi Gang, in a recent speech at Hong Kong Fintech Week, talked about the progress of their national digital currency called the digital yuan. He outlined the progress and the adoption of the national digital currency.During his speech, Yi noted that the digital yuan is being
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