Chinese digital yuan CBDC used for first time to settle cross-border oil deal
CBDC and de-dollarization saw major strides last week with the 1-million barrel deal on the Shanghai Petroleum and Natural Gas Exchange. Go to Source
Bank of China
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Bank of China: Platforms must provide digital yuan retail payment option
In the short term, e-commerce platforms can integrate the CBDC through QR codes. Go to Source
BNP Paribas teams up with Bank of China to promote digital yuan usage
The partnership will enable BNP Paribas China’s corporate clients to make payments using the digital yuan through an e-CNY management system. Go to Source Powered by WPeMatico
China’s state-affiliated banks are on-boarding crypto companies in Hong Kong
Chinese banks are opening bank accounts for regulated crypto companies, with several acting as a payment layer for these crypto platforms. Go to Source Powered by WPeMatico
Hong Kong citizens not interested in digital yuan: Reports
Despite the 20% discount, the e-CNY hard wallets don’t attract much attention from the islanders. Go to Source Powered by WPeMatico
Bank of China ex-advisor calls Beijing to reconsider crypto ban
The current crypto ban in China is beneficial in the short term, but there are big opportunities that can be missed in the long run, the economist argued. Go to Source Powered by WPeMatico
Former Chinese central banker says digital yuan ‘usage has been low’
A former China central banker said cumulative e-CNY transactions only crossed $14 billion in two years, adding the results were “not ideal.” Go to Source Powered by WPeMatico
Wuhan omits NFTs from metaverse plan amid regulatory uncertainty in China
The Chinese government has shown a keen interest in developing a metaverse economy, but its stance on NFTs hasn’t been very clear. Go to Source Powered by WPeMatico
Bank of China: Digital yuan transactions volume crossed $14B mark
The largest CBDC pilot in the world is going to expand on citizen payments and cross-border operations with Hong Kong. Go to Source Powered by WPeMatico
Cryptocurrency Is Virtual Property That Is Protected by Law, Chinese Court Rules
A Chinese intermediate court based in Beijing recently upheld a lower court’s ruling which determined that cryptocurrency is a virtual property protected by the law. The court clarified that regulations issued by the Bank of China and others only prohibit the circulation of virtual currency. ‘Financing Behaviour Prohibited by the Law’ An intermediate court in … Read more
