A CBDC is a central bank digital currency, a new type of money governments are experimenting with that often has blockchain at its core.
China to Hold Second Lottery Trial of the Digital Yuan
A lottery in Suzhou will additionally trial the offline feature of the digital yuan, per a Monday report.
How Ant’s Suspended IPO Is Related to China’s Digital Yuan
Ant’s suspended IPO exposes potential financial risks posed by the fintech giant’s digital payment platform Alipay. The digital yuan may be China’s attempt at a solution.
PBoC Governor Says ‘Successful’ Digital Yuan Trials Have Transacted $299M
The governor of the People’s Bank of China praised recent tests of the digital yuan at the Hong Kong Fintech Week conference on Monday.
Proposed Chinese Law Outlaws All Yuan-Pegged Tokens – Except for Its CBDC
The new version will essentially also clear the way for the digital yuan to be the one and only official yuan-pegged token in mainland China.
Chinese Authorities Crack Down on Gambling Sites Using Tether Stablecoin
Chinese authorities have arrested 77 individuals and shuttered gambling sites using the dollar-pegged tether (USDT) cryptocurrency.
China Should Accelerate Rollout of Digital Yuan, Says Central Bank Official
Chen Yulu, deputy governor of the People’s Bank of China, said at the weekend that the digital yuan project should be accelerated as an important part of the nation’s financial infrastructure.
China Sees Advantages in Being First on New Digital Currency ‘Battlefield’
The nation would wield stronger influence in the world as a result of the digital yuan issuance, according to a magazine from the People’s Bank of China (PBoC)
CoinDesk 50: How the People’s Bank of China Became a CBDC Leader
China’s central bank, part of CoinDesk’s new 50 list, is a pioneer of central digital currencies. Now the rest of the world is racing to catch up.
Starbucks, McDonald’s Among 19 Firms to Test China’s Digital Yuan: Report
Starbucks and McDonald’s are among the restaurants and retail shops reportedly to be testing China’s central bank digital currency.
Just a Test: China Central Bank Confirms Digital Yuan Mobile App Trials
China’s central bank confirmed it will be testing a mobile app for the digital yuan in four cities, with a fifth in the works, and emphasized it’s a test.
China Injects $4.7M into Central Bank’s Blockchain Trade Finance Platform
Thirty-eight banks have started using the platform since it entered the test phase in September 2018.
ANALYSIS: The Global Game of Coins Heats Up
New paper from the PBoC says that “top-level” design of its digital currency is complete while AMLD5 in Europe is causing crypto companies to flee.
Chinese Internet Giant Tencent to Launch Digital Currency Research Team
Tencent, the Chinese internet giant and owner of WeChat, is reportedly forming a team to explore possible new use cases for cryptocurrencies.
China’s SEC May Soon Have a Crypto-Savvy Department Chief: Report
China’s securities watchdog is reported to be hiring Yao Qian, the former head of the central bank’s digital currency initiative, as the chief of its new tech regulation bureau.
China’s Central Bank Likely to Pilot Digital Currency in Cities of Shenzhen and Suzhou: Report
The People’s Bank of China is said to be preparing to launch pilots for its digital currency in Shenzhen and Suzhou from the end of the year.
China’s Digital Yuan Will Target Retail Payments First, Ex-Central Banker Says
Former PBoC head Xiaochuan Zhou says the digital yuan will enable retail payments first, but might need a different technical design for cross-border payments.
After Xi, China’s Central Bank Gives Blockchain Tech a Pump
The People’s Bank has said blockchain is a solution to trade finance asymmetries in the latest promotion of the tech in China.
Chinese Official Warns Libra Could Abet Illegal Cross-Border Transfers
Libra must abide by international foreign exchange regulations to not enable illegal transfers or “it should be banned,” a senior Chinese regulator said Monday.
Chinese Central Bank Official Calls for Commercial Bank Blockchain Adoption
A Chinese central bank official has called on commercial banks to adopt blockchain technology in digital finance.