China’s economy

China’s digital currency could threaten dollar’s dominance

Since bitcoin was launched in 2008, the first crypto asset with its own unit of account based on blockchain technology, more than 3,000 crypto assets with a diverse range of features have entered the digital currency. market. Yet regulatory authorities around the world have thus far largely indicated they are not threatened by crypto asset […]

China’s Central Bank Completes Design of its Digital Currency

China’s central bank, the People’s Bank of China (PBoC), has announced it has completed the design of its digital currency, local news outlet JRJ.com has reported. According to the announcement, China’s central bank digital currency has completed its “top-level design, standard formulation, functional research and development.” Mu Changchun, head of the digital currency research institute […]

Digital Currency Manual for Chinese Officials in High Demand, Enters Second Printing

A 200-page manual titled “Digital Currency: A Reader for Cadres” entered its second printing in January. The high demand signals interest from China’s government amid confusing regulations on cryptocurrencies. The handbook was first released in November, and includes a comprehensive set of 23 articles, starting from the basics of digital currencies to their impact on […]

Emerging tech firms face tighter scrutiny

PBOC officials moot stricter measures in financial sector to protect investors Regulators are expected to adopt a tough stance on emerging technology in the financial sector and extend supervision of technology giants in an effort to curb systemic risks, central bank officials said on Tuesday. Over-innovated financial products with lagging regulation may lead to financial […]

Experts expect Asia to play lead development role across the world

Asia is expected to lead the development of blockchain technology worldwide, with China among the key countries to watch next year, according to experts. Jason Potts, professor of economics and director of the Blockchain Innovation Hub at RMIT University in Melbourne, Australia, said Asian countries, including China, Singapore, South Korea and even Vietnam, are making […]

Chinese Tech Giant Baidu Launches Blockchain Beta

On January 6th, Baidu — a Chinese technology and internet giant most often called “China’s Google” here in the West — unveiled its latest project: “Xuperchain,” a blockchain system for businesses, now going into beta. According to the translated version of a flashy new website outlining this new offering, this now-in-beta network will allow users, […]

Why China Is Banning Crypto but Is Bullish on Blockchain

Babel Finance is one of China’s largest financial service providers.  The firm works with crypto mining companies to fund the volatile industry and products including crypto-backed loans, deposit services, margin trading and derivatives. Since July 2018, Babel has issued $400 million in crypto-backed loans with a balance of more than $300 million outstanding. Before pivoting […]

China’s digital yuan takes shape with new encryption law

BEIJING — China rolls out new rules governing online encryption Wednesday, paving the way for a digital version of the yuan and taking greater control over cyberspace. The national cryptography law, established in October, makes government responsible for setting encryption standards covering both the state and industries. Encryption is divided into three categories — core, common and commercial — and the law […]

Forget bitcoin, China’s crypto-yuan is set to transform banking

Digital currencies could become substitutes not just for physical cash but also for bank reserves. So is China readying its own bitcoin? Banish the thought. It’s far bigger than that. Yes, just like any other crypto-currency — or for that matter, cigarettes in POW camps — the upcoming digital yuan will be “tokenised” money. But […]

China and Russia begin testing cryptocurrency

A lot has happened last week on the crypto market. Here is a summary of the main events: Bank of China announced that it is ready to test the digital yuan, the developer of Ethereum named the date of the next hard fork cryptocurrency, the Bank of Russia has begun tests of their own cryptocurrency, […]

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