China Crypto Roundup (Oct 19- Oct 26): China Drafts Law to Legalize Digital Yuan, Bitcoin Goes Viral Again on China’s Weibo, China’s Experimental $1.5 Million Giveaway of Digital Yuan Ended

Oct 26, 2020

The top stories from the Chinese cryptocurrency sphere this past week include: China drafts law to legalize digital yuan, Bitcoin goes viral again on China’s Twitter-like weibo as bitcoin rallies to 13k, China’s experimental $1.5 million giveaway of digital yuan to Shenzhen citizens ende...

Dual Offline Wallet for China’s CBDC is Ready for Test

Oct 23, 2020

“The "dual offline" wallet has been fully developed and having friendly user experience. The wallet is expected to be applied in the follow-up pilot” Said Changchun Mu, the director of the Chinese Institute of CBDC, the public's enthusiasm in participating in the digital yuan pilot pro...

The Digital Yuan Will Help Develop China’s Digital Economy, PBoC Governor Says

Oct 21, 2020

The development of China’s national digital currency is getting exponentially faster as the year progresses. After President Xi Jinping first announced his support for blockchain last year, both the private and the public sectors in China have been racing to introduce more real-world applica...

Wallet for Chinese Digital Yuan Still Works as Its Test in Shenzhen Rounds off

Oct 20, 2020

China's experimental $1.5 million giveaway of digital yuan to Shenzhen citizens ended on Sunday (October 18) as it took 10 days from appointment, registration to pilot. On October 19th, according to the data from WeChat official account of "i Shenzhen", as of October 18, 47573 indivi...

China Crypto Roundup (Oct 12- Oct 19): Chinese Police Cracking Down on Illegal Bank Cards, 2022 Asian Games Tickets Will be Issued on A Blockchain Network, 2 Million People Applied for Shenzhen’s Digital Yuan “Red Packets”

Oct 19, 2020

The top stories from the Chinese cryptocurrency sphere this past week include: Chinese police cracking down on new types of illegal crimes in telecommunication networks, Alibaba’s blockchain subsidiary to issue tickets for the 2022 Asian games in Hangzhou, almost 2 million people applied for ...

Chinese Digital Yuan is Testing Limited Anonymous Transaction

Oct 16, 2020

According to the latest report, DCEP, China’s digital yuan are testing the limited anonymous transaction as the pilot project initiated by Shenzhen’s municipal government has got off to a great start. “Limited anonymous transaction”, that is, the transaction record won’t display the me...

Almost 2 Million People Applied for Shenzhen’s Digital Yuan “Red Packets”

Oct 13, 2020

The digital yuan pilot project initiated by Shenzhen’s municipal government has got off to a great start. According to the latest report, a total of 1,193,800 individuals in Shenzhen have applied for the “Luohu Digital RMB Red Packet,” a rewards program initiated by the Shenzhen gover...

China’s Digital Yuan to Test in Petty Payment First

Aug 19, 2020

A director of the technical department of a bank in China’s Suzhou revealed that the current digital currency application in Shenzhen and Suzhou is mainly concentrated in small-scale scenarios such as retailing, public transportation card recharge, catering. The application scenarios for C...

China Begins Digital Yuan Tests in Preparation for the Winter Olympics in 2022

Aug 19, 2020

China’s digital currency is currently undergoing extensive tests in preparation for the Beijing Winter Olympics scheduled for next year, the 21st Century Business Herald reported. While the digital yuan has initiated state-wide efforts to ramp up blockchain development, testing concrete pro...

China to Pilot Digital Yuan in These 28 Cities, Said Commerce Ministry

Aug 14, 2020

The long-anticipated digital yuan will be piloted in more cities across the country, announced China’s commerce ministry on Friday August 14. The pilot cities announced this time are no longer limited to several heavyweight cities previously reported but with a large number of places incl...