People’s Bank of China (PBoC) has instructed all financial institutions in the country to help effect the clampdown on cryptocurrency engagements. According to a Reuters report, the apex bank said it recently summoned all financial institutions to intensify the way they prevent cryptocurrency trading. Per the report, the PBoC urged these institutions to cut payment
People’s Bank of China (PBoC) has instructed all financial institutions in the country to help effect the clampdown on cryptocurrency engagements. According to a Reuters report, the apex bank said it recently summoned all financial institutions to intensify the way they prevent cryptocurrency trading. Per the report, the PBoC urged these institutions to cut payment
On Thursday, June 10, the Central Bank of Nigeria (CBN) announced that it preparing for the launch of the central bank digital currency (CBDC) aka Digital Naira and that should happen before the end of 2021. Rukayat Mohammed, the Director of Information Technology (IT) for the CBN made this disclosure yesterday in a virtual briefing
On Thursday, June 10, the Central Bank of Nigeria (CBN) announced that it preparing for the launch of the central bank digital currency (CBDC) aka Digital Naira and that should happen before the end of 2021. Rukayat Mohammed, the Director of Information Technology (IT) for the CBN made this disclosure yesterday in a virtual briefing
Finance Ministers of the G7 economies have kicked off the 2-day meeting in London on Friday, June 4. This is the first face-to-face meeting after the G20 meeting in February 2020 n Saudi Arabia. The top things on agenda have been deciding the rules for the working of digital currencies issued by central banks and
Finance Ministers of the G7 economies have kicked off the 2-day meeting in London on Friday, June 4. This is the first face-to-face meeting after the G20 meeting in February 2020 n Saudi Arabia. The top things on agenda have been deciding the rules for the working of digital currencies issued by central banks and
After testing its Digital Renminbi use in some of the small cities, China is now planning a big CBDC giveaway for Beijing residents. The Chinese government has planned a 40 million renminbi ($6.2 million) lottery giveaway in form of digital currency. China has been conducting such programs for a while as it goes on to
After testing its Digital Renminbi use in some of the small cities, China is now planning a big CBDC giveaway for Beijing residents. The Chinese government has planned a 40 million renminbi ($6.2 million) lottery giveaway in form of digital currency. China has been conducting such programs for a while as it goes on to
It’s a double whammy for Bitcoin (BTC) investors this week. After Elon Musk single-handedly crashing Bitcoin and the overall crypto market, the Chinese central bank PBoC gives another hammer blow. On Tuesday, May 18, the Chinese central bank warned local financial institutions and businesses from dabbling into cryptocurrencies. Bitcoin (BTC) and the overall crypto market
It’s a double whammy for Bitcoin (BTC) investors this week. After Elon Musk single-handedly crashing Bitcoin and the overall crypto market, the Chinese central bank PBoC gives another hammer blow. On Tuesday, May 18, the Chinese central bank warned local financial institutions and businesses from dabbling into cryptocurrencies. Bitcoin (BTC) and the overall crypto market
Alibaba’s Ant Group, the official partner of China’s PBoc for its Digital Yuan has started working on digital currency trials involving other stakeholders within the country. China’s online-only bank MYbank, wherein Ant Group holds a 30% stake, is the latest to join the trials and will allow some of its users to link their bank
Alibaba’s Ant Group, the official partner of China’s PBoc for its Digital Yuan has started working on digital currency trials involving other stakeholders within the country. China’s online-only bank MYbank, wherein Ant Group holds a 30% stake, is the latest to join the trials and will allow some of its users to link their bank
After enough internal testing locally, the Chinese central bank – The People’s Bank of China (PBoC) – is all set to take its CBDC Digital Yuan global. As per the recent report from the South China Morning Post, the payments giant Mastercard is currently in talks with PBoC to facilitate the cross-border transactions for Digital
After enough internal testing locally, the Chinese central bank – The People’s Bank of China (PBoC) – is all set to take its CBDC Digital Yuan global. As per the recent report from the South China Morning Post, the payments giant Mastercard is currently in talks with PBoC to facilitate the cross-border transactions for Digital
Co-founded by consulting giant Accenture, The Digital Dollar Project (DDP) is all set to kickstart pilot tests for the U.S. central bank digital currency (CBDC) over the next year to test its design and use cases. For this, Accenture has entered a non-profit partnership with the Digital Dollar Foundation. The report comes just at a
Co-founded by consulting giant Accenture, The Digital Dollar Project (DDP) is all set to kickstart pilot tests for the U.S. central bank digital currency (CBDC) over the next year to test its design and use cases. For this, Accenture has entered a non-profit partnership with the Digital Dollar Foundation. The report comes just at a
Some of the top Chinese conglomerates have already joined hands with the People’s Bank of China (PBoC) in testing the country’s own CBDC, Digital Yuan. As per the latest CNBC report, Chinese e-commerce giant JD.com has already started paying certain employees in Digital Yuan. This comes as the PBoC looks to extend the scope of
Some of the top Chinese conglomerates have already joined hands with the People’s Bank of China (PBoC) in testing the country’s own CBDC, Digital Yuan. As per the latest CNBC report, Chinese e-commerce giant JD.com has already started paying certain employees in Digital Yuan. This comes as the PBoC looks to extend the scope of
Amid highly rising inflation and with the Turkish Lira losing value against the USD, the country is now looking for a digital alternative to its national currency. Drawing a leaf from China’s CBDC move, Turkey is all set to launch its Digital Lira in the next two years. On Wednesday, local news agency Sabah published
Amid highly rising inflation and with the Turkish Lira losing value against the USD, the country is now looking for a digital alternative to its national currency. Drawing a leaf from China’s CBDC move, Turkey is all set to launch its Digital Lira in the next two years. On Wednesday, local news agency Sabah published
People Bank of China, the Chinese Central Bank believes the rising price of bitcoin has contributed to the growing interest in Chinese sovereign CBDC called digital yuan. The statement took many by surprise partly because cryptocurrencies are banned in China for almost 4 years now. Wang Xin, PBOC research bureau director, “On one hand, this
People Bank of China, the Chinese Central Bank believes the rising price of bitcoin has contributed to the growing interest in Chinese sovereign CBDC called digital yuan. The statement took many by surprise partly because cryptocurrencies are banned in China for almost 4 years now. Wang Xin, PBOC research bureau director, “On one hand, this
As the CBDC developments catch pace worldwide, the Bank of Japan is making its own moves. On Friday, March 26, the Japanese central bank said that it will start the feasibility study and test of its own CBDC – Digital Yen – starting next month. The announcement comes just a day after the People’s Bank
As the CBDC developments catch pace worldwide, the Bank of Japan is making its own moves. On Friday, March 26, the Japanese central bank said that it will start the feasibility study and test of its own CBDC – Digital Yen – starting next month. The announcement comes just a day after the People’s Bank
China’s growing influence in the digital currency space has created a sense of urgency among many western counterparts especially the US who view China’s national digital currency as a threat to their financial sovereignty. The US Dollar is currently the default currency of trade in the international trade market with over 88% of market dominance
China’s growing influence in the digital currency space has created a sense of urgency among many western counterparts especially the US who view China’s national digital currency as a threat to their financial sovereignty. The US Dollar is currently the default currency of trade in the international trade market with over 88% of market dominance
It is widely reported that China is close to launching the Digital Yuan in their Renminbi internationalization drive and to minimize their dependence on the US Dollar. Now, according to recent reports, it is said that the People’s Bank of China (PBOC) issued coin, which will in no way resemble Bitcoin, will have a superior
It is widely reported that China is close to launching the Digital Yuan in their Renminbi internationalization drive and to minimize their dependence on the US Dollar. Now, according to recent reports, it is said that the People’s Bank of China (PBOC) issued coin, which will in no way resemble Bitcoin, will have a superior
Zhou Xiaochuan, President of the Chinese Finance Association and former governor of People’s Bank of China in a recent forum has said that China will continue to build its digital currency for payment and retail purposes. Fiat Currency Is a Symbol of National Sovereignty The statement was made in the Caixin Hengqin Forum today. He
Zhou Xiaochuan, President of the Chinese Finance Association and former governor of People’s Bank of China in a recent forum has said that China will continue to build its digital currency for payment and retail purposes. Fiat Currency Is a Symbol of National Sovereignty The statement was made in the Caixin Hengqin Forum today. He
A recent regulatory update by People Bank of China’s(PBOC) Shanghai Head office has affirmed that the bank will continue to strengthen regulation and control and clamp down crypto trading. No Virtual Currency Business To Exist In China The Shanghai Financial Stability Joint Conference Office and the Shanghai Headquarters of the People’s Bank of China going
A recent regulatory update by People Bank of China’s(PBOC) Shanghai Head office has affirmed that the bank will continue to strengthen regulation and control and clamp down crypto trading. No Virtual Currency Business To Exist In China The Shanghai Financial Stability Joint Conference Office and the Shanghai Headquarters of the People’s Bank of China going
According to an article published by Think, the Chief economist of popular Dutch bank ING, Mark Cliffe, as well as the lead economist for digital finance Teunis Brosens, has said that central bank’s digital currencies are inevitable and may become a reality within the next 5 years. A Full-Fledged Central Bank Digital Currency In View According
According to an article published by Think, the Chief economist of popular Dutch bank ING, Mark Cliffe, as well as the lead economist for digital finance Teunis Brosens, has said that central bank’s digital currencies are inevitable and may become a reality within the next 5 years. A Full-Fledged Central Bank Digital Currency In View According
The narrative about the Chinese buying up Bitcoin is flowing two ways – some reports say that the Chinese are turning to the cryptocurrency because of the FUD created by the US-China trade war, while others indicate that the Chinese are not buying up crypto. An article by Nikkei Asian Review highlights that China’s central
The narrative about the Chinese buying up Bitcoin is flowing two ways – some reports say that the Chinese are turning to the cryptocurrency because of the FUD created by the US-China trade war, while others indicate that the Chinese are not buying up crypto. An article by Nikkei Asian Review highlights that China’s central
According to a trend of tweets made by CnLedger on Wednesday morning, former People’s Bank of China‘s governor, Xiaochuan Zhou has made a comment about the highly controversial Facebook’s proposed cryptocurrency, Libra. According to Zhou through CnLedger’s Wednesday tweet, Facebook’s Libra may pose difficulties on global monetary policies and disrupt the existing financial system. Cryptocurrency
According to a trend of tweets made by CnLedger on Wednesday morning, former People’s Bank of China‘s governor, Xiaochuan Zhou has made a comment about the highly controversial Facebook’s proposed cryptocurrency, Libra. According to Zhou through CnLedger’s Wednesday tweet, Facebook’s Libra may pose difficulties on global monetary policies and disrupt the existing financial system. Cryptocurrency
The People’s Bank of China (PBoC) is reportedly considering to create a cryptocurrency to be used both locally and possibly, globally. According to a report made by South China Morning on Monday, China is looking to review its almost two years ban on cryptocurrencies in the region. China’s Views On Libra The news came after
The People’s Bank of China (PBoC) is reportedly considering to create a cryptocurrency to be used both locally and possibly, globally. According to a report made by South China Morning on Monday, China is looking to review its almost two years ban on cryptocurrencies in the region. China’s Views On Libra The news came after
