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.
News
China has expanded its central bank digital currency pilot program to include the payment of tax, stamp duty and social security.
Residents of 3 Chinese cities paying taxes and charges with digital yuan
Tom Mitchelhill
2022-04-29T05:47:23+01:00
2746
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.
VanEck says Bitcoin could hit $4.8M if it became the global reserve asset
Brian Newar
2022-04-01T02:26:14+01:00
15813
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.
US exceptionalism could be tested as digital assets find footing worldwide — Sheila Warren
Turner Wright
2022-03-22T14:45:00+00:00
2863
News
"We will not compete against China — an authoritarian dictatorship — by also acting like an authoritarian dictatorship," said Jake Chervinsky.
Blockchain Association policy head: US shouldn't compete with China's CBDC using surveillance tools
Turner Wright
2022-03-16T21:31:01+00:00
2739
News
"This bill holds China accountable as they introduce their new digital currency,” said Senator Bill Cassidy.
Republican lawmakers introduce bill targeting China's CBDC on sanctions, privacy
Turner Wright
2022-03-10T19:45:00+00:00
2570
News
Many of the National Stadium retailers allowing purchases with China’s CBDC were outside the Olympics' quarantine bubble.
Digital yuan transactions beat out Visa at Winter Olympics venue: Report
Turner Wright
2022-02-10T22:04:33+00:00
4637
News
"Do not accept any digital yuan," said Minnesota Representative Tom Emmer in a tweet aimed at Team USA athletes competing in China.
US lawmakers issue warnings about digital yuan as Winter Olympics kicks off
Turner Wright
2022-02-04T18:30:00+00:00
3030
News
Restricting the number of spectators at the major international sporting event will "likely further delay the mass adoption of the digital currency," according ...
COVID restrictions stymie digital yuan rollout at Beijing Winter Olympics: Report
Turner Wright
2022-01-31T21:45:00+00:00
1679

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