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China’s digital yuan is one of the earliest CBDCs whose pilot phase has expanded to include millions of users and billions in transaction volume. Go to Source Powered by WPeMatico
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
Moments after the Chinese yuan’s onshore exchange rate versus the U.S. dollar slumped to 7.2458 per dollar, the Peoples Bank of China responded by stating that it will prioritize stabilizing the currency. Similar to other currencies that have been depreciating against the dollar, the yuan has now lost 12% versus the greenback so far this … Read more
China’s push for blockchain technology gained steam after 2019 when President Xi Jinping called for corporations from tech giants to become industry leaders in the nascent tech. Go to Source Powered by WPeMatico
The offshore exchange rate of China’s fiat currency versus the U.S. dollar recently breached the 7:1 mark for the first time in over two years, after it touched a new 2022 low of 7.0188 yuan for every dollar on September 15. Similar to other global currencies that have depreciated in 2022, the yuan’s decline is … Read more
Crypto holders in China are protected by the law in case of theft, misappropriation or breach of a loan agreement despite the ban on crypto. Go to Source Powered by WPeMatico
While cash is associated with more anonymity, it’s still less mobile and easy to use in large amounts than a digital currency, China’s CBDC project lead Mu Changchun said. Go to Source Powered by WPeMatico
Tether USDT stablecoin cannot be used for salary payments, a Chinese court ruled, citing the country’s blanket ban on all types of crypto transactions. Go to Source Powered by WPeMatico
Recent geographical traffic data highlights that Chinese traders continue to access centralized exchanges despite a regulatory risk. Go to Source Powered by WPeMatico
China has expanded its central bank digital currency pilot program to include the payment of tax, stamp duty and social security. Go to Source Powered by WPeMatico
