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Tag Archives: CBDC

WeChat to Support Digital Yuan Pilot Program

Apr 8, 2022

China’s social media giant WeChat has concluded plans to support the nation's pilot program for the Central Bank Digital Currency (CBDC) also known as Digital Yuan. The plan which was initially revealed in the early days of 2022 is now set to kick-off, according to recent announcement...

First CBDC-Related Money Laundering Case Reported in China

Nov 9, 2021

The first case of money laundering involving the use of digital yuan has been reported in China. According to Chinese authorities, in several scam cases, the group involved in the crime used the digital yuan to steal funds from their victims which were further transferred out of the country. ...

The Main Reason Behind China’s Crypto Ban

Oct 26, 2021

China banned the use of Bitcoin and other cryptocurrencies within its financial system and geographical space. Not only did it ban the use of cryptocurrencies, but it also moved to put a stop to all activities related to the new technology, including cryptocurrency mining and trading. While t...