PBOC

China Is Drafting Laws for the Circulation of National Digital Currency

</header> <strong>Amid the coronavirus pandemic, China’s central bank has reportedly completed the basic development of the nation’s central bank digital currency. The central bank is now drafting legislation for its circulation, according to local media. A number of patents have revealed what the digital yuan will be like.</strong> Also read: 2x Bitcoin — Wanna Double …

China Is Drafting Laws for the Circulation of National Digital Currency Read More »

China’s Central Bank to Inject $4.7M into Blockchain Trade Platform

The People’s Bank of China (PBoC) has secured $4.7 million in funding from China’s central government for its blockchain trade finance platform. The funding will be administered over three years and has been designated for research and development projects. The blockchain platform was initially revealed by the PBoC in Shenzhen during September 2018. The platform …

China’s Central Bank to Inject $4.7M into Blockchain Trade Platform Read More »

Central Bank of China Pumps 300 Billion Yuan Into Financial System, Cuts Loan Rates

</header> <strong>The Chinese government has taken multiple steps so far to contain the economic fallout from the coronavirus epidemic, including interest rate cuts and financial injections worth billions of yuan. It did it again this week, extending the monetary easing provided by the central bank. With the budget under pressure, however, there are indications that …

Central Bank of China Pumps 300 Billion Yuan Into Financial System, Cuts Loan Rates Read More »

84 PBOC Digital Currency Patents Show the Extent of China’s Digital Yuan

</header> <strong>The People’s Bank of China (PBOC) has reportedly filed 84 patents relating to its plans to launch a digital currency. The patents reveal the central bank’s plans which include integrating digital currency wallets into existing retail bank accounts. The potential for the Chinese central bank digital currency to achieve scale from the get-go has …

84 PBOC Digital Currency Patents Show the Extent of China’s Digital Yuan Read More »

China Stocks Plummet Despite 1.2 Trillion Yuan Injection to Mitigate Effects of Epidemic

</header> <strong>China’s stock market plunged Monday under selling pressure accumulated during a prolonged holiday. Investors have been worried by the coronavirus outbreak that’s already taken the lives of more than 360 people. Beijing authorities have responded by pumping well over a trillion yuan into the country’s economy and financial system. </strong> Also read: China’s Inflation …

China Stocks Plummet Despite 1.2 Trillion Yuan Injection to Mitigate Effects of Epidemic Read More »

Cambodia Announces State Cryptocurrency as More Details Surface About China’s Digital Yuan

</header> <strong>With China still in the lead, other countries are advancing their projects to develop payment systems around central bank digital currencies (CBDCs). Cambodia, for example, has recently revealed it will mint its own coin within months. The news comes as more details about the digital Chinese yuan indicate its main purpose will be to …

Cambodia Announces State Cryptocurrency as More Details Surface About China’s Digital Yuan Read More »

China Issues Digital Currency Guide for Party Cadres

</header> <strong>Understanding a complex subject should be easier with access to educational materials. With blockchain and CBDC now part of Beijing’s political vocabulary, the Communist Party of China (CPC) has issued a guide to digital currencies meant to prepare party officials for upcoming changes in the country’s financial system. </strong> Also read: China Saw $11.4 …

China Issues Digital Currency Guide for Party Cadres Read More »

US and European Regulators Say Crypto a Priority This Year

</header> <strong>Several regulators in the U.S. and Europe have made cryptocurrency among their top priorities this year. The Securities and Exchange Commission’s compliance office and the European Securities and Markets Authority, in collaboration with other regulators, have outlined their plans to focus on crypto oversight. Further, China’s central bank has made digital currency a priority.</strong> …

US and European Regulators Say Crypto a Priority This Year Read More »

ANALYSIS: The Global Game of Coins Heats Up

China’s digital currency project continues to move ahead aggressively, with a new paper from the People’s Bank of China suggesting that a core design is complete. Whatever stage of development the currency is actually in, it’s clear that China wants the world to see it as ahead of the curve in the digital currency race.  …

ANALYSIS: The Global Game of Coins Heats Up Read More »

4 Beijing Regulators Issue New Crypto Activity Warning

</header> <strong>Four financial regulators in China have jointly issued a fresh warning regarding crypto trading activities in Beijing. The notice explains the reason for the warning and lists prohibited crypto activities, which have reportedly been surging as companies ramp up their blockchain promotion.</strong> Also read: Regulatory Roundup – New US Crypto Bill, France’s 1st Approved …

4 Beijing Regulators Issue New Crypto Activity Warning Read More »