China’s digital yuan nears $250B transaction volume: Central bank governor
While the adoption and use cases of China’s e-CNY are expanding, the digital yuan still only represents 0.16% of China’s monetary supply.This post was originally published on this site
China to gain most from restrictive US crypto regulations — Coinbase CEO
Brain Armstrong 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.This post was originally published on this site
China Pushes Digital Yuan for Wage Payments in Changshu
Changshu, a city in China with more than 1.5 million inhabitants, will pay public workers’ wages with the Chinese central bank digital currency (CBDC), the digital yuan. The move marks an acceleration of the adoption plans that Beijing has for the digital currency, which has been included in some limited programs before. Public Employees in […]
Russia Launching Payment System With ‘No Restrictions’ — Digital Currencies to Be Completely Unrestricted
Russia is launching a new payment system that is “bound by no restrictions” where digital currencies could be used in cross-border payments, said Russian Finance Minister Anton Siluanov. “Two parties come to an agreement, make settlement payments, and no other country could step in and freeze such payments,” the top official explained. Digital Currency ‘Bound […]
US Senator Ted Cruz tries again with new bill to block CBDC
Ted Cruz said it is “more important than ever” to ensure the financial privacy of American citizens is preserved.This post was originally published on this site
Digital Real Pilot to Run on Ethereum-Compatible, Permissioned Blockchain
According to the Central Bank of Brazil, the digital real pilot project will use an Ethereum-compatible, permissioned blockchain for the issuance of the tokenized version of the country’s currency. Hyperledger Besu, the open-source platform elected for the tests, will allow the project to run without any licensing costs and to deal with maintenance costs later, […]
China’s Wechat Adds Support for Digital Yuan Payments
Chinese social media platform Wechat has introduced support for the state-backed digital yuan in its popular payment app. Over a billion users will now ostensibly be able to take advantage of fast payments with the digital currency issued by the People’s Bank of China. Wechat Pay Follows Alipay in Integrating Payments With Digital Yuan The […]
Chinese Economist Urges Government to Reconsider Crypto Ban — Warns of Missed Tech Opportunities
An economics professor and former adviser to the People’s Bank of China has urged the Chinese government to reconsider its ban on cryptocurrencies. He warned that banning crypto activities could result in missed opportunities that are “very valuable” to regulated financial systems. Chinese Economist Warns of Missed Opportunities Due to Crypto Ban A former adviser […]
China’s Hainan to boost NFT oversight as digital yuan trial ramps
Hainan’s market regulator wants to promote nonfungible tokens as part of the digital economy, but will actively work to weed out bad actors and speculative behavior.This post was originally published on this site
Shanghai Metaverse Pilot Introduces Digital Services in 20 Urban Locations
The city of Shanghai is bringing metaverse activities to 20 urban locations, that will allow citizens to use digital tools in different ways according to the area. The initiative is part of a pilot program of the Shanghai Municipal Commission of Economy and Informatization to push more metaverse applications to the population. Shanghai Takes the […]