Chinese court sentences gang for money laundering using digital yuan
[Jun 13 11:17 AM] The Chinese CBDC’s “controllable anonymity” seems to be very highly controlled.
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China Halts Gold Buying in May, Ending 18-Month Buying Spree
Hong Kong digital yuan pilot lacks P2P capabilities
[May 17 4:09 AM] While Hong Kong residents can sign up for a digital yuan wallet with a phone number, the CBDC is currently restricted to cross-border transactions and cannot be used for person-to-person transfers within Hong Kong.
Gold Rush Continues – Central Banks Purchased 44 Tonnes in November
[Jan 8 3:30 PM] Krishan Gopaul, senior analyst of the World Gold Council, revealed that central banks kept adding gold to their reserves during November. According to public records and reports from the International Monetary Fund (IMF), central banks added 44t of…
China Mulls Digital Yuan Settlements for Commodities
[Nov 7, 2023 4:30 AM] The People’s Bank of China (PBOC) is considering using the digital yuan to settle services and commodities trades with Hong Kong. According to Di Gang, deputy director-general of the Digital Currency Institute of the PBOC, this would help…
Project mBridge reveals details of its workings ahead of MVP, commercial debut
[Oct 31, 2023 2:15 PM] Project mBridge has put together a slick publication with lots of new information to let the world know what the hottest project in CBDC is.
China opens industrial park for digital yuan CBDC development in Shenzhen
[Oct 12, 2023 1:12 PM] The government is incentivizing new residents to come develop payment solutions, smart contracts, hard wallets and promotions for the digital yuan.
Bitcoin gains legal recognition as digital currency in Shanghai China
[Sep 26, 2023 5:36 AM] A similar report from another Chinese court earlier in September recognized cryptocurrencies as virtual properties protected by law.
mBridge CBDC project preparing for new members, launch of minimum viable product
[Sep 25, 2023 2:19 PM] The project now includes central and commercial banks from China, Hong Kong, Thailand and the UAE. Future new members were not identified.
Grayscale victory, SEC delays decision on Bitcoin ETFs: Law Decoded
[Sep 4, 2023 2:30 PM] Grayscale victory doesn't help Bitocoin spot ETF approval on first deadline as SEC postpones decison to next deadline.
Digital yuan integration introduced to Chinese business air travel
[Jul 21, 2023 2:37 AM] The Civil Aviation Administration and China Merchants Bank said passengers can utilize the central bank digital currency to access new services via this platform.
Chinese City of Jinan Implements Digital Yuan Payments for Public Transportation Fares
[Jul 5, 2023 1:30 AM] Jinan, the capital of the Chinese province of Shandong, has recently included the digital yuan as a means of payment for its public transportation system. According to local sources, digital yuan payments were implemented on July 1 in all city…
Crypto Traders Need to Pay Attention to Chinese Yuan
[May 31, 2023 7:22 AM] The Chinese yuan has declined by 2.7% against the U.S. dollar this month, while bitcoin has dropped by 7.3%.
Chinese state media removes video on crypto after Binance CEO calls it ‘big deal’
[May 25, 2023 5:21 AM] Although China has maintained a hostile stance against crypto, the recent developments in Hong Kong have many speculating about its impact on China.
Chinese Autonomous Region of Guanxi to Adopt Digital Yuan in Push for ASEAN Trade Integration
[May 20, 2023 1:00 AM] The Chinese autonomous region of Guanxi, located in the south of China, will implement a wide adoption plan for the digital yuan, that includes a push for using it as a trade currency with countries part of the ASEAN bloc. This pilot plan looks to…
Inflation in China Down to Lowest Number in More Than Two Years; Analyst Proposes Giving Cash Handouts to Avoid Deflation
[May 13, 2023 12:30 AM] Inflation in China registered an increase of 0.1% year-over-year in April, according to numbers from the National Bureau of Statistics of the country, falling below expectations. Some analysts are already warning about the dangers of deflation…
China Pushes Digital Yuan for Wage Payments in Changshu
[Apr 25, 2023 3:30 AM] Changshu, a city in China with more than 1.5 million inhabitants, will pay public workers’ wages with the Chinese central bank digital currency (CBDC), the digital yuan. The move marks an acceleration of the adoption plans that Beijing has…
China to expand CBDC use case for Belt and Road Initiative
[Apr 24, 2023 7:11 AM] China was one of the first nations to start working on its CBDCs. However, despite the completion of its development, the government is yet to officially launch the CBDC.
Report: Nigeria-China Currency Swap Agreement Fails to Ease Pressure on the Naira
[Apr 16, 2023 3:30 AM] Nigerian economic experts have said the country’s five-year-old currency swap agreement with China has not eased the pressure against the Nigerian currency. According to one expert, implementation of the swap arrangement is being held back by…
CBDCs should protect privacy, not be a surveillance tool: Former CFTC chair
[Mar 13, 2023 9:12 PM] Former CFTC Chair Christopher Giancarlo says that Anti-Money Laundering and Know Your Customer measures are both outdated and constitutionally questionable and that crypto technology could do better.
China's Hainan to boost NFT oversight as digital yuan trial ramps
[Jan 30, 2023 9:24 PM] Hainan's market regulator wants to promote NFTs as part of the digital economy, but will actively work to weed out bad actors and speculative behavior.
Report: China Suspected of Stockpiling Gold to ‘Cut Greenback Dependence’
[Nov 22, 2022 3:00 PM] During the first week of November, the World Gold Council’s (WGC) report that covered last quarter’s global gold demand noted that central banks worldwide purchased close to 400 tons of gold in Q3 2022. The study highlighted that it was the…