Category: People’s Bank Of China

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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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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Digital yuan will work with WeChat and Alipay, says bank exec

October 26, 2020

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Details regarding the digital yuan’s characteristics are taking shape. 4213 Total views 42 Total shares The forthcoming digital yuan will reportedly be compatible with major payment networks within the country.  Mu Changchun, the head of the People’s Bank of China’s digital currency research institute, said that the central bank-backed digital yuan will be compatible with […]

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