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CATEGORY: peoples bank of china


Hong Kong digital yuan pilot lacks P2P capabilities

Author: Cointelegraph by Zoltan Vardai
United States
May 18, 2024 12:00

Hong Kong digital yuan pilot lacks P2P capabilities

While Hong Kong residents can sign up for a digital yuan wallet with a phone number, the CBDC is currently restricted to cross-border transactions and cannot be used for person-to-person transfers within Hong Kong.

China to expand CBDC use case for Belt and Road Initiative

Author: Cointelegraph By Prashant Jha
United States
Apr 24, 2023 04:40

China to expand CBDC use case for Belt and Road Initiative

China was one of the first nations to start working on its CBDCs. However, despite the completion of its development, the government is yet to officially launch the CBDC.

Jul 21, 2023 02:10

Digital yuan integration introduced to Chinese business air travel

As the pilot program for China’s central bank digital currency (CBDC) — the digital yuan — takes off, Chinese business travelers will reportedly be able to pay for flight tickets using the CBDC.  A collaboration between the China Merchants Bank and the Civil Aviation Administration of China led to the introduction of a digital yuan [...]

The post Digital yuan integration introduced to Chinese business air travel appeared first on Crypto Breaking News.

Mar 14, 2023 05:50

CBDCs should protect privacy, not be a surveillance tool: Former CFTC chair

The United States should lead the development of Central Bank Digital Currencies (CBDCs) away from being “surveillance coins” and towards being “freedom coins,” says the former chair of the Commodity Futures Trading Commission (CFTC). In a Mar. 13 op-ed in The Hill, Christopher Giancarlo, nicknamed “Crypto Dad” for his pro-crypto outlook, said the U.S. “must [...]

The post CBDCs should protect privacy, not be a surveillance tool: Former CFTC chair appeared first on Crypto Breaking News.

Jan 20, 2023 10:35

China's Central Bank Digital Currency (CBDC)


China's Central Bank Digital Currency (CBDC) now supports smart contracts. Soochow Securities' mobile app allows e-CNY purchases. Android phones may now perform contactless digital yuan wallet payments. (Read More)

Bank of China: Digital yuan transactions volume crossed $14B mark

Author: Cointelegraph By David Attlee
United States
Oct 13, 2022 04:55

Bank of China: Digital yuan transactions volume crossed $14B mark

The largest CBDC pilot in the world is going to expand on citizen payments and cross-border operations with Hong Kong.

Residents of 3 Chinese cities paying taxes and charges with digital yuan

Author: Cointelegraph By Tom Mitchelhill
United States
Apr 29, 2022 08:20

Residents of 3 Chinese cities paying taxes and charges with digital yuan

China has expanded its central bank digital currency pilot program to include the payment of tax, stamp duty and social security.

China-based regulatory and trade associations target NFTs in latest risk notice

Author: Cointelegraph By Turner Wright
United States
Apr 14, 2022 12:08

China-based regulatory and trade associations target NFTs in latest risk notice

“We solemnly call on consumers to [...] be vigilant and stay away from NFT-related illegal financial activities,” said the associations.

Tencent files for patent related to virtual concerts in Metaverse

Author: Cointelegraph By Tom Mitchelhill
United States
Mar 03, 2022 08:25

Tencent files for patent related to virtual concerts in Metaverse

Chinese tech colossus Tencent has continued its foray into the metaverse after filing a patent for virtual concerts, flying in the face of warnings from Chinese banks and regulators.

Crypto at the Olympics: NFT skis, Bitcoin bobsledders and CBDC controversy

Author: Cointelegraph By Francisco Rodrigues
United States
Feb 15, 2022 04:45

Crypto at the Olympics: NFT skis, Bitcoin bobsledders and CBDC controversy

Bitcoin and nonfungible tokens are all over the Olympics this year while China’s CBDC is there too amid a controversial rollout.

Chinese crypto ban poses no threat to local industry media, sources say

Author: Cointelegraph By Helen Partz
United States
Dec 02, 2021 04:45

Chinese crypto ban poses no threat to local industry media, sources say

Chinese crypto media are reportedly keeping a low profile on their websites and are focusing on growing communities on Twitter and Telegram.

Crypto's impact on sanctions: Are regulators' concerns justified?

Author: Cointelegraph By Anirudh Tiwari
United States
Nov 30, 2021 04:40

Crypto's impact on sanctions: Are regulators' concerns justified?

Cryptocurrencies, including CBDC’s, have now become a part of the narrative on sanctions due to high adoption.

New decentralized stablecoin in China targets international trade

Author: Cointelegraph By Helen Partz
United States
Sep 23, 2021 04:50

New decentralized stablecoin in China targets international trade

Conflux will provide the technology to launch an offshore RMB stablecoin pegged to China’s CBDC, the digital yuan.

Apr 16, 2023 02:10

Report: Nigeria-China Currency Swap Agreement Fails to Ease Pressure on the Naira

Nigerian economic experts have said the country’s five-year-old currency swap agreement with China has not eased the pressure against the Nigerian currency. According to one expert, implementation of the swap arrangement is being held back by the size of the trade imbalance between Nigeria and China Easing Pressure on the Naira According to experts on [...]

The post Report: Nigeria-China Currency Swap Agreement Fails to Ease Pressure on the Naira appeared first on Crypto Breaking News.

Huawei integrates digital yuan into HarmonyOS NEXT for up to 1B users

Author: Cointelegraph by Derek Andersen
United States
Nov 02, 2024 12:00

Huawei integrates digital yuan into HarmonyOS NEXT for up to 1B users

No need to download or pull up an app to pay with the Chinese CBDC on Huawei phones now.

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