Faced with the opportunities and the threat posed by the Facebook Libra cryptocurrency project, the central bank of China should reconsider the plan for creating a national digital currency (CryptoYuan), says the former head of the People’s Bank of China. According to the South China Morning Post, former People’s Bank…
Posts published in “CryptoYuan”
The digital currency (CryptoYuan) of China will initially appear in Suzhou region for the government workers who will receive 50% of the payments in the new asset for the transport subsidies due to them. 4 state banks will be involved in the issue of CryptoYuan: Industrial and Commercial Bank of…
The concept of digital currency to rise quickly pulled the afternoon, as of this writing, Hublot shares, Huijin shares, the public should be interconnected, Heng Bank Financial and other daily limit, Julong shares, GRG, the Blue Division software and other daily limits. On the news, it was reported that in the afternoon of April 22, the Xiong’an New District…
The Central Bank of China will test the national digital currency for electronic payments before the end of this year. The sovereign cryptocurrency test – DCEP (CryptoYuan) – will be conducted in two cities: Shenzhen and Suzhou. China may be the first large economy to issue its own digital money.…
The Arbitration Court in China ruled that, despite the country’s Central Bank’s ban on trading in cryptocurrencies, Bitcoin must still be legally protected as citizen’s property. The Shenzhen Court published the details of the case through WeChat, stating its decision on a recent economic dispute concerning a business contract involving…
Prosecutors in China have charged four suspects said to be involved with operating an alleged $2 billion cryptocurrency pyramid scheme. According to a news release issued by the Supreme People’s Procuratorate issued Wednesday, a local prosecutor’s office in Hunan province has charged the four individuals as part of a wider crackdown…
China is still at the stage of developing the state digital currency, the head of the state research center of China told reporters. According to Zhang Yifeng, head of China Banknote Blockchain Research Center, China is still working on the creation of a national digital currency, but the timing of…
China’s central bank has said cryptocurrencies will be one of its top priorities this year, in an effort to protect the national currency. According to an announcement Thursday, People’s Bank of China (PBoC) has outlined its agenda for the coming year during a conference call focused on monetary development. While…
The head of the Chinese Central bank, Gan said that the cryptocurrency is money that has no borders. According to the official, the cryptocurrency is adrenaline for crypto investors. Digital assets are of great interest to Chinese society, as it gives full freedom to enter the financial market. Also,…
According to regional reports, China’s police agency is allegedly monitoring cryptocurrency exchanges based outside of the country. An informant details that China’s Public Information Network Security Supervision task-force is closely watching both domestic and foreign trading platforms involved with cryptocurrencies to prevent fraud, pyramid schemes, and money laundering. China’s Regulators…