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Shanghai to Hand Out $3 Million in Digital Yuan Lottery

<div class=”featured_image_container”> </div> <strong>As part of government efforts to get the digital yuan going, authorities in Shanghai will distribute $3 million worth of the central bank-issued currency among residents of Shanghai. The digital money will be dispersed through a lottery, a method that has already been implemented elsewhere in China. </strong> Lottery Winners to Get …

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Top Chinese banks promote CBDC over local payment firms for shopping festival

Some of China’s largest state banks are actively promoting the digital yuan as a superior means of payment to the country’s two leading payment providers, Alipay and WeChat Pay. In an April 26 report, Reuters revealed that six of China’s largest banks are promoting China’s nascent central bank-issued digital currency, or CBDC, in Shanghai ahead of …

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Our Man in Shanghai: Digital yuan tests, ‘bear market’ and ‘NFT’ searches spike

Sentiment in China has slumped as WeChat searches for Bitcoin dropped 7% this week, while searches for “bear market” spiked 102%. One trend that remained strong was NFT-related, with NFTs receiving an 86% increase in WeChat searches over the seven-day period. Token sales were another hot item with interest in Casper Labs surging after signups …

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Red Envelopes and BCH: Prominent Mining Execs Jiang Zhuoer and Jihan Wu Bolster Bitcoin Cash

<div class=”featured_image_container”> </div> <strong>In recent days, bitcoin cash has seen significant gains, and supporters of the digital currency have been positive about specific developments, like the internet entrepreneur Kim Dotcom’s current support. On February 11, the Chinese New Year, the prominent bitcoin mining executives, Jiang Zhuoer and Jihan Wu joined a Satoshi’s Angels discussion channel …

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TikTok ask the court to prevent a US ban from taking effect

Mike Blake / reuters Last week the Commerce Department delayed plans to implement a ban that would prevent new downloads of the TikTok app by one week, pushing the deadline out to this coming Sunday as its owner negotiated a deal with the government, Oracle and Walmart. On Wednesday afternoon TikTok followed the path of …

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Court blocks Trump’s WeChat ban from taking effect today

Enlarge / There both is and is not a ban in effect on WeChat. Budrul Chukrut | SOPA Images | LightRocket | Getty Images A federal judge in California put a temporary halt on the White House’s efforts to ban WeChat inside the United States, preventing that ban from going into effect at midnight tonight. …

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WeChat user alliance sues Trump administration over threatened ban

Drew Angerer/Getty Images TikTok isn’t the only one suing the Trump administration over an executive order that could ban an app in the US. The Financial Times reports that the WeChat Users Alliance has sued the administration over the potential WeChat ban. The user group claimed the order violates First Amendment free speech rights and …

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A WeChat Ban Should Be the Moment for Decentralized Tech. But It’s Not.

People from the world’s two largest economies could soon have a much harder time communicating with each other. Literally.  The U.S. may soon ban WeChat, the multi-purpose messaging app for more than 1 billion Chinese users, in addition to shutting down TikTok’s American operations. The ban could be disruptive for 19 million active WeChat users …

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Trump declares TikTok, WeChat “national emergency,” preps bans

Enlarge / If the Trump administration has its way, these logos will be scarce inside the US in a few weeks. Ivan Abreu | Bloomberg | Getty Images The White House’s campaign against the China-based developers of popular apps escalated dramatically in the last day, as President Donald Trump declared both TikTok and WeChat to …

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China’s Digital Yuan to Reportedly Target Dominance of Alibaba and Tencent

The People’s Bank of China is purportedly planning to use its digital currency electronic system (DCEP) — another moniker for its central bank digital currency — to target the dominance of technology giants like Alibaba and Tencent in the digital payments sector. The report comes only a few days after claims of the central bank …

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