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Tag Archives: digital yuan

China Considers Creating a Digital Yuan-Based Exchange

Dec 1, 2021

The Chinese government is already looking into the possibilities of creating a digital assets exchange that will support the digital yuan. The exchange is planned to be located in Beijing and will be one of the State Council’s efforts to support financial services within the capital. This ex...

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. ...

Digital Yuan Shows CBDC A Distant Cousin of Bitcoin

Jul 13, 2021

Olusegun Ogundeji

China’s central bank digital currency (CBDC) push is merely bringing to life what could be considered an extension of what cryptocurrencies could achieve, a fintech and China expert has suggested.  Richard Turrin, author of ‘Innovation Lab Excellence’ and ‘Cashless’, a book on C...

US Reps Highlight Likely Digital Dollar’s Edge Over Yuan

Jun 16, 2021

Olusegun Ogundeji

How a U.S. digital dollar could gain an edge over China’s yuan was the topic of discussion on Tuesday June 15 in the US House of Reps.  Several experts were on hand to testify before the House Committee on Financial Services Task Force on Financial Technology regarding “Dig...

China’s Ruling Council Calls for Bitcoin Mining Crackdown, Trading

May 22, 2021

Olusegun Ogundeji

In what it says is a bid to prevent and control financial risks, the top echelon of the Chinese government has indicated their administration’s resolve to, among other things, combat Bitcoin mining and trading behaviour as they issued yet another stern warning against crypto mining in China. ...