People’s Bank Of China | Crypto Profit Bot

Rolling up the sleeves: China’s tech giants drive digital yuan adoption

May 1, 2021

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While key central bank figures in the West like Jerome Powell and Christine Lagarde appear to be procrastinating on the subject of central bank digital currencies, China continues to make significant progress. China’s digital currency electronic payment project, or DCEP, helmed by the country’s central bank, continues to draw significant private sector participation. From tech […]

China aims to let foreigners use digital yuan at Winter Olympics in 2022

April 19, 2021

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China wants to allow foreign athletes and visitors to use the county’s digital currency during the Beijing Winter Olympics in 2022. 6951 Total views 41 Total shares China’s central bank is looking to enable foreign athletes and visitors to use the country’s digital currency during the Beijing Winter Olympics in 2022, according to a top […]

How the digital yuan stablecoin impacts crypto in China: Experts answer

April 10, 2021

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This is part one of a multipart series on blockchain and crypto in China. China has been discussing the possibilities of national digital currency for half a decade, and the Chinese digital yuan project — referred to as the Digital Currency Electronic Payment, or DCEP — has years of history. Back in 2014, the People’s […]

China’s digital yuan is backup to AliPay and WeChat Pay, says official

March 26, 2021

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Alibaba’s Alipay and Tencent’s WeChat Pay reportedly account for 98% of the mobile payment market in China. 4501 Total views 25 Total shares China’s central bank digital currency, or CBDC, will provide backup for major retail payment services like AliPay and WeChat Pay as its key objective, according to an official at the People’s Bank […]

Report: Ant Group to overhaul structure per agreement with China authorities

February 3, 2021

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Several of Ant Group’s offerings including the blockchain division will reportedly become part of a financial holding company. 2411 Total views 23 Total shares Ant Group, the financial affiliate of China’s e-commerce giant Alibaba, has reportedly reached an agreement with Chinese regulators over the company’s status. According to a Feb. 3 report by Bloomberg, Chinese […]

China has no plan to replace USD with digital yuan, former PBoC head says

December 14, 2020

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A former PBoC official says that his country has taken a cautious approach with the digital yuan. 2040 Total views 20 Total shares The Chinese government is not seeking to replace existing fiat currencies with its own digital currency, according to a former governor of the People’s Bank of China, or PBoC. Zhou Xiaochuan, the […]

China’s central bank plans digital yuan pilot for payments to Hong Kong

December 4, 2020

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Preliminary talks are underway to begin testing the e-CNY in the special administrative region of Hong Kong. 5854 Total views 47 Total shares China’s central bank and the Hong Kong Monetary Authority, or HKMA, are in the preliminary stages of piloting the digital yuan for cross-border payments — underscoring another key development in the rollout […]

US intelligence is looking at Chinese CBDC as a national security threat

November 25, 2020

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The Director of National Intelligence wants to have the SEC’s leader briefed on the dangers of the U.S. falling behind in crypto. 5136 Total views 49 Total shares The United States national security apparatus is warning other agencies about China’s upcoming digital currency. On Wednesday, news outlet the Washington Examiner reported on a letter that […]

China’s digital yuan is ‘a long way’ from beating USD says financial firm exec

November 3, 2020

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Sounds like its CBDC is unlikely to dethrone the United States dollar as the world’s reserve currency anytime soon. 2984 Total views 24 Total shares David Roche, president and global strategist at Independent Strategy, believes that China’s digital yuan has “a long way” before it will become able to challenge the U.S. dollar as a […]

China’s digital yuan pilots have processed $300M so far, says PBoC head

November 2, 2020

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China’s digital yuan pilot program is picking up speed. 4455 Total views 56 Total shares The governor of China’s central bank has given more details about the country’s ongoing digital currency pilot. Yi Gang, governor of the People’s Bank of China, said that the digital yuan pilots have processed over four million transactions to date, […]

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Category: People’s Bank Of China