Category: People’s Bank Of China

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

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

The use of cryptocurrencies to evade international sanctions from various international governmental organizations like the United Nations (UN), the International Monetary Fund (IMF) and the World Bank, among others, has been a concern for regulators ever since the creation of cryptocurrencies. The rapidly increasing adoption of digital currencies in the last two years makes this […]

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Crypto adoption is a ‘huge challenge,’ says Chinese central bank exec

Crypto adoption is a ‘huge challenge,’ says Chinese central bank exec

PBoC maintains its anti-crypto stance despite local players experimenting with digital yuan-pegged stablecoins. 676 Total views 26 Total shares The rapid adoption of cryptocurrencies like Bitcoin (BTC) poses a major challenge for the traditional financial system, an executive at the Chinese central bank has warned. Wen Xinxiang, director of the payment and settlement department at […]

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China’s central bank worried about stablecoins’ risk to financial systems

China’s central bank worried about stablecoins’ risk to financial systems

While Visa and other major private payments networks see the potential of stablecoins, China’s central bank believes they pose serious risks to global financial systems. 544 Total views 4 Total shares The Chinese central bank is “quite worried” about the global financial risks associated with digital currencies, particularly stablecoins, according to a senior official. Fan […]

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

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

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 […]

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