News
PBoC deputy governor Fan Yifei said expanding e-CNY trials to the provinces of Guangdong, Jiangsu, Hebei and Sichuan would happen "at a proper time."
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Yuan News
The yuan is the primary unit of the renminbi – the official name of the Chinese currency. Chinese currency itself is also often referred to as yuan. The term “Chinese yuan” is mostly used to refer to renminbi by international finance institutions. Yuan is issued by the People’s Bank of China, which has total control over the currency. Yuan is currently one of the most traded currencies due to internationalization of Chinese businesses and the expansion of Chinese exports. Chinese yuan circulates in Thailand, Pakistan, Mongolia and some other Asian countries. As the Chinese economy grows, the yuan gathers more and more influence on international markets. The price of the yuan had a crucial impact on the cryptocurrency industry as most exchanges were Bitcoin to yuan interactions, operated through China-based crypto exchanges. However, due to the large number of regulations, the Chinese yuan lost most of this impact on Bitcoin after 2017.
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Senator Andrew Bragg on Monday released a draft bill aimed at regulating crypto exchanges, stablecoins and the digital yuan.
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Under the pilot test, parents could enroll their children in after-school vocation programs via smart contracts.
1818 - News
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.
1433 - Newsletter
China's advanced CBDC strategy sees digital yuan airdropped to thousands of people. Meanwhile, Binance Labs raised $500 million for a new Web3 fund.
1582 - News
The move comes as part of a government effort-led to revitalize consumer spending as a zero-COVID policy has devastated China’s economic hubs.
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Three Republican senators introduced a bill to protect Americans from the "Authoritarian Digital Currencies Act."
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China has expanded its central bank digital currency pilot program to include the payment of tax, stamp duty and social security.
3033 - News
The investment firm made a very high valuation for BTC and gold based on the extreme case that either becomes the reserve global currency.
16050 - Interview
“Innovation is going to flow to where it can thrive the most, and actively trying to block it is going to encourage it to head elsewhere," said Sheila Warren.
2991 - News
"We will not compete against China — an authoritarian dictatorship — by also acting like an authoritarian dictatorship," said Jake Chervinsky.
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"This bill holds China accountable as they introduce their new digital currency,” said Senator Bill Cassidy.
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Many of the National Stadium retailers allowing purchases with China’s CBDC were outside the Olympics' quarantine bubble.
4770 - News
"Do not accept any digital yuan," said Minnesota Representative Tom Emmer in a tweet aimed at Team USA athletes competing in China.
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Restricting the number of spectators at the major international sporting event will "likely further delay the mass adoption of the digital currency," according to the Foundation for Defense of Democracies' Craig Singleton.
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