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China’s ambitious venture into the realm of Central Bank Digital Currency (CBDC) is facing hurdles as reports emerge of hesitancy among participants in the pilot program. The state-backed digital yuan, often referred to as e-CNY, is encountering resistance from users who are reluctant to hold onto it, citing various concerns regarding its utility and privacy. […]
Some participants of Chinas CBDC pilot program are reportedly hesitant to hold onto the digital yuan, citing a range of concerns with using the state-backed digital currency.
The Coinbase CEO has been hugely critical of the U.S. failure to provide the crypto industry with regulatory clarity and has long argued it will push firms offshore.
The Shanghai Clearing House, Asia’s first counterparty clearing institution, announced support for payments made with the digital yuan Monday. According to reports, the move will allow companies to settle transactions for commodities in bulk, promoting the digital yuan, the Chinese central bank digital currency (CBDC), in international markets. Shanghai Clearing House to Support Digital Yuan
The post Shanghai Clearing House Introduces Support for Digital Yuan Settlements appeared first on BTC Ethereum Crypto Currency Blog.
On Monday, the Shanghai Clearing House, a financial services clearing counterparty under China’s central bank, began digital yuan clearing and settlement services for trading in [...]
China is promoting the use of its digital yuan, also known as e-CNY, for cross-border trade in its Belt and Road initiative. The city of Xuzhou plans to allow the use of e-CNY to pay for services and storage charges for goods carried by cross-border trains, with plans to extend its usage to pay taxes and utility services in the city. The Hong Kong Monetary Authority is also testing the digital yuan as a cross-border payment tool in the Guangdong-Hong Kong-Macau Greater Bay Area, while the Chinese government ramps up its CBDC efforts amid a shift away from the U.S. dollar in international trade markets. (Read More)
Ted Cruz said it is “more important than ever” to ensure the financial privacy of American citizens is preserved.
WeChat has integrated the digital yuan into its payment services, allowing users to make payments through the platform. The move aims to increase the digital yuan’s appeal and follows a similar integration by Alipay. (Read More)
WeChat Pay has integrated the digital yuan app, driving the adoption of the CBDC among its 1 billion users.
Fanusie doesn’t believe the Chinese-led CBDC movement on the global stage will replace the U.S. dollar, but it may cause a series of geopolitical headaches.
Multiple Chinese city governments have given away millions worth of e-CNY to try to promote consumption around the holiday season.
China's CBDC, the digital yuan, sees another in a long line of real-world use cases.
Continue reading China’s Digital Yuan Adds Smart Contract Capabilities at DailyCoin.com.
The Bank of Japan is preparing to run a test trial of its own central bank digital currency (CBDC), the digital yen, with help from three top banks and regional institutions. The pilot program, estimated to last two years, will focus on testing the currency via several transactions, and experimenting with its functionality in environments
The post Bank of Japan to Launch Digital Yen Pilot Program Next Year appeared first on BTC Ethereum Crypto Currency Blog.
Are you wondering if the digital Yuan threatens freedom? Here is a guide on whether the digital Yuan threatens freedom. Lately, people across the globe are recognizing Bitcoin and other cryptocurrencies’ emerging utility. This virtual currency has faced significant challenges in the past thirteen years, including huge price drops and bans from China. However, this […]
China's PBoC Governor Yi Gang has reassured that the country's Digital Yuan will prioritize privacy protection (Read More)
The Chinese Central Bank Digital Currency (CBDC) also known as the e-CNY has hit close to $14 billion (100.04 billion Yuan) from 360 million transactions as it gains widespread acceptance in country (Read More)
China’s Hengyang County Public Security Bureau arrested 93 suspects involved in laundering 40 billion RMB via cryptocurrencies, local media reported on September 25.
The post China arrests 93 people suspected of laundering 40B RMB via crypto appeared first on CryptoSlate.
Andrew Bragg published a bill on Monday that aims to regulate cryptocurrency exchanges, stablecoins and the digital yuan.
Continue reading Australia Could Soon Regulate Stablecoins and the Digital Yuan at DailyCoin.com.
In China, the Digital Currency Research Institute of the People's Bank of China has launched a digital renminbi smart contract prepaid fund management product - "Yuanguanjia". (Read More)
The Digital Dollar Project's Technical Sandbox Program is set to begin in October aiming to provide a clearer understanding of the ramifications of a United States CBDC.
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