Chinese President Xi Jinping

China’s digital yuan takes shape with new encryption law

Beijing enhances control over tools crucial to developing blockchain. 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 […]

China may issue digital currency in the next 2-3 months

Beijing has developed a framework called the Digital Currency Electronic Payment (DCEP) which would allow its central bank to issue a digital currency to commercial banks and third-party payment networks by Alipay and WeChat Pay. That’s according to Jack Lee, managing partner of HCM Capital, who told CNBC: “So, they already have all the system and […]

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