**** Chinese crypto market

Cointelegraph predictions for the first 5 CBDCs of 2021-2022

2021 & 2022 touted to be the most important years for the development of CBDCs Central Bank Digital Currencies (CBDCs) have been an integral part of progressive discussions within the cryptocurrency community. CBDCs are virtual representations of the fiat currency of a particular country. They are often based on blockchain technology and are issued and […]

>>> Who’s Next After Ripple? Justin Sun Denies Allegations of TRON Being Sued by US Regulators Over 2017 ICO

Justin Sun rejects allegations of receiving any notices about regulatory proceedings regarding Tron or BitTorrent in the 2017 ICO from US or Chinese authorities The head of the Tron Foundation, Justin Sun, has denied receiving any official notices of regulatory proceedings about the 2017 Tron ICO from American or Chinese authorities or from a regulator […]

Monthly recap: Bitcoin and Ethereum post massive gains as trust erodes in the global financial system

Bitcoin Generates 47% in Monthly Returns as Institutional Demand Skyrockets Bitcoin’s fundamental backdrop is growing more robust than ever. During the month of December 2020, the flagship cryptocurrency was recognized as a hedge against inflation. Even JPMorgan Chase acknowledged that gold would suffer the most as capital shifts towards the pioneer digital asset.  Institutional investors […]

China extends digital yuan test to Beijing as Shenzhen holds second lottery

China’s digital yuan testing has extended to the capital, Beijing, after months of testing in other major cities. According to local news outlets, the pilot test of the central bank digital currency (CBDC) will focus on small local enterprises initially. The CBDC, alternatively known as the digital currency electronic payment (DC/EP), has been in testing […]

China’s Crypto Miners Struggle to Pay Power Bills as Regulators Clamp Down on OTC Desks

As Chinese authorities make it harder than ever to exchange cryptocurrency into fiat, miners may be forced to move to other jurisdictions, local sources say. Арте́льный горшо́к гу́ще кипи́т.With a helper a thousand things are possible.Russian proverb On Monday, crypto industry blogger Colin Wu tweeted that miners in China have been struggling to pay for […]

China’s BSN predicted as long-term global project, still ahead of others

The impact of China’s Blockchain Service Network may be limited, but the region’s national blockchain infrastructure continues to outpace other regions. First announced in October 2019, China’s Blockchain Service Network, also known as BSN, is aimed at providing a global public infrastructure designed to support both private and public blockchain networks across interconnected cities.  According […]

Will America or China be No. 1 in cryptocurrency?

China shouldn’t stroll to the front for next-generation technology for financial services, a U.S. invention ANALYSIS/OPINION: Regardless of what happens in the election, regardless of what one thinks the direction of the country should be, virtually everyone on the planet agrees that it would be better for the United States to remain the No. 1 […]

China’s Digital Currency Poses Security Risks the West Can’t Ignore

The regime in Beijing recently completed digital yuan testing in a seemingly innocuous manner. In the southern city of Shenzhen, the Chinese Communist Party (CCP) distributed 10 million digital yuan to 50,000 residents in the form of virtual “red envelopes,” a whimsical reference to gifts of money received on the Lunar New Year. While the […]

China moves to legalize digital yuan and ban competitors with new draft law

China is inching closer to the launch of its own sovereign digital currency by giving it a legal foundation in an upcoming law revision, while the central bank is also addressing problems that emerged in pilot tests for the digital yuan, reported the South China Morning Post. The People’s Bank of China published a draft […]

How China’s digital currency different from existed widely used e-payments

China’s digital currency has moved steps forward again as 50,000 randomly selected citizens in South China’s Shenzhen received a total of 10 million yuan ($1.5 million) worth of digital currency. That happened on October 12, one day after the second-largest economy announced the plan to build Shenzhen, dubbed as China’s Silicon Valley, to a pilot demonstration […]

Bank of China’s CBDC trials crossed 3 million between April and August

1.1 billion RMB worth of CBDC transactions were conducted between April and August. The Chinese government plans on testing out the CBDC in the upcoming Winter Olympic Games. The Deputy Governor of the People’s Bank of China (PBoC), Fan Yi Fei, shared some insights about the country’s CBDC (central bank digital currency) trials during the […]

So how does China feel about DeFi?

Since President Xi Jinping’s announcement last year to prioritize blockchain development in China, the country has been the first to launch its CBDC, created the BSN network, and applied for a record 4,435 blockchain patents. While these seem like big strides forward towards adoption, there is still a ban in place on trading cryptocurrency. The […]

People’s Bank of China: issuing CBDC is a new global ‘battlefield’

An article published in China Finance, a magazine run by the People’s Bank of China (PBOC), stated that China had to become the first nation to issue its digital yuan to “reduce its dependence on the US dollar”, according to a report published today. China Finance also sees issuing a digital currency as a “new […]

China’s digital currency ‘must be first in world’

Central bank says new version of yuan will reduce country’s dependence on global dollar payment system China is introducing a digital version of its yuan currency. China needs to become the first country to issue a digital currency so it can reduce its dependence on the global dollar payment system, the People’s Bank of China […]

How China’s digital currency could impact the country’s fintech start-ups

Beijing’s push for a sovereign digital currency was originally driven by the rapid digitisation of the economy and the rise of cryptocurrencies. The digital payments market in China helped revolutionise the global e-payments industry, with China playing a significant role in the initial adoption and implementation of e-payments as a whole. The presence of Chinese-based […]

China’s Largest Blockchain Initiative Adopts DAML as Smart Contract Language

The DAML smart contract programming language was developed by Digital Asset, an American blockchain startup. China’s largest blockchain infrastructure initiative, also known as the Blockchain Services Network (BSN), has announced its choice of a unified smart contract programming language, dubbed ‘Digital Asset Modeling Language’, or DAML. The language was developed by Digital Asset, an American […]

China’s reach for digital dominance a wake-up call for US

WHILE many countries are eager for an alternative to US technology dominance, Beijing is taking a lead by launching a new set of global guidelines and formulating a national technology strategy. Part of the strategy is to promote and accelerate advances in blockchain technology, enabling China to influence the development of global networks and standards. […]

Experts: Country to build fintech hubs

China plans to build pioneering fintech hubs nationwide, focusing on the research and development of blockchain technology and digital currency to boost investment in financial infrastructure, according to officials and experts on Tuesday. They made the remarks at the 2020 China Financial Technology Forum, part of the ongoing 2020 China International Fair for Trade in […]

Cryptocurrency: the next battleground in the US-China rivalry

Washington’s weaponisation of the US dollar as a foreign policy tool depends on its pre-eminence as a global reserve currency. Безопасность прежде всего.Safety first.Russian proverb But the emerging threat to this hegemony is e-currencies, and Beijing’s huge head start could put it in control of the world’s financial structure. The United States Department of Justice […]

China digital yuan catering to small retail transactions

China’s digital yuan is only being used to process small retail transactions, a central bank official has reportedly revealed. According to a local outlet, the official made the clarification following claims that the digital currency was used in a major real estate transaction. China’s digital currency electronic payment (DCEP) has been on a test run, […]

China to use its digital yuan in the 2022 Winter Olympics

China’s central bank plans to use digital yuan at the 2022 Winter Olympic Games. The exact launch date of the digital currency remains unspecified. China is currently conducting trials of digital yuan across several provinces in the nation. The People’s Bank of China (PBoC) is planning to use digital yuan at the 2022 Winter Olympic […]

China’s Communist Party eyes blockchain for ‘decentralizing’ social services

Beijing’s strategic vision is to use blockchain technology, artificial intelligence, big data and 5G in social assistance system reforms. The Chinese Communist Party has identified blockchain as a key tool for its innovation of nationwide social services. On Aug. 25, the General Office of the Central Committee of the Communist Party of China and the […]

Billions in crypto flowing out of China

Amid trade wars, wealthy Chinese are seeking ways to circumvent capital flight restrictions Over $50 billion in cryptocurrency flowed out of China over the past 12 months amid the trade wars, according to a new study cited by a Bitcoin.com report. East Asia is the world’s largest cryptocurrency market, accounting for about 31% of all […]

China’s nationwide blockchain to add support for stablecoins

China’s BSN project will add support for cryptocurrencies, after all. The country recently decided to add support for stablecoins at some point in 2021. It is still unknown whether digital yuan will find its way to BSN, but there is a chance that it might happen. China appears to be in the final phases of […]

People’s Bank of China: CBDC Tested on Small Retail Transactions

China’s CBDC tested on small retail transactions only, despite rumors claiming otherwise. At the same time, the country’s Blockchain-based Service Network explores further developments. Despite numerous reports claiming that the Chinese central bank is experimenting with large volume transactions for its CBDC, the bank recently said that it’s focusing on small retail transactions but confirmed […]

Blockchain-Backed Social Media Brings More Choice for Users

Could blockchain fight against state-sponsored censorship in a post-coronavirus era? As people continue to rethink topics like technology development, economic measures and freedom of speech because of the COVID-19 pandemic, blockchain has now emerged as a solution for many issues. Iva Wisher, co-founder of Ignite, a decentralized microblogging platform, said blockchain may also be a […]

China’s leading spot in the race for technological innovation

The U.S. and China are competing for technological supremacy in almost every innovation field from artificial intelligence to 5G networks, from big data to the internet of things and from cloud computing to blockchain technology. The presence of a duopoly in the tech world is now certified by the 2020 edition of the Hurun Global […]

China aims to use its CBDC to rival Alibaba and Tencent

China plans to use its digital currency electronic system to rival Alibaba and Tencent.  These two tech giants haven’t been listed as participants of the digital currency project. The People’s Bank of China (PBoC) seems to be planning to use its digital currency electronic system (DCEP) to compete with tech giants like Alibaba and Tencent, […]

Early start on blockchain prevents West from kicking China out of digital currency race

Shares of digital currency-related Chinese companies edged up on Tuesday’s opening, with some rising by the daily limit of 10 percent. Investors were encouraged by a tone-setting central bank meeting on Monday which paved the way for the steady development of China’s Digital Currency Electronic Payment (DCEP) in the second half of 2020.  BJCA and […]

China-Backed Crypto Guru Wants to Unify the World’s Blockchains

(Bloomberg) – The blockchain world today is thousands of disparate platforms that can’t talk to each other. So a little-known startup hatched one of the most ambitious plans yet to bridge all the divides — and it’s got the backing of the Chinese government. Beijing-based Red Date Technology is at the heart of China’s first […]

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