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...
Following weeks of speculations regarding China’s official policy regarding the use of cryptocurrencies, the former governor of the country’s central bank provided a brief glimpse into how China could approach the issue. So far, all of the comments made by the People’s Bank of China reg...
After almost a dozen hugely successful trials held across the country, China has decided to run another digital yuan pilot program—this time in Beijing. According to the latest report from BlockBeats, the Beijing Local Financial Supervision and Administration Bureau announced on June 2...
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. ...
There may have been talks that China’s proposed central bank digital currency (CBDC) may not be able to challenge the US dollar’s firm grip on the global economy as the most used currency for transactions, a Chinese attorney who has worked in the capital markets of both the US and Chin...
The ripple effect of a statement released by three Chinese bodies on Tuesday May 18 warning against crypto use continues to deepen across the space. Over a 24-hour period, the initial slight drop in the price of Bitcoin to ∼$43,000 shortly after the announcement worsened to touch over $3...
China’s international ambition for the yuan is one of the headlines of a recent panel discussion put together by the Atlantic Council where the digital yuan’s planned use is discussed as well as its possible rollout being framed as a China vs. US conversation. For Yaya Fanusie, a Seni...
According to the latest report from Caixin, there has been a slew of new developments regarding China’s upcoming digital yuan. At the core of these new developments is AliPay, the payments arm of China’s commerce giant Alibaba. Namely, sources within China have found that AliPay has la...
The first edition of the PwC Global Central Bank Digital Currency (CBDC) Index has shown that The Bahamas and Cambodia are the two countries leading China in terms of their central banks’ level of maturity in deploying their own digital currency. Designed to monitor the ongoing...
China’s digital yuan project has ticked yet another box as e-commerce giant JD.com recently implemented it as a payment vehicle to pay salaries of some of its employees. The platform also revealed that it used the digital yvan to make payment for some other businesses. This will go down a...
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