People’s Bank of China

Japan the Next Country to Mint a Digital Currency?

With finance ministers and central bank governors having recently discussed cryptocurrency regulations at the G-20 summit, Japan is taking notice at home. Leaders at the Bank of Japan (BOJ), Ministry of Finance (MOF), and Financial Services Agency (FSA) have held a number of meetings to determine whether the country should become next in line to […]

China Urged to Regulate Cryptocurrency Over Growing Libra Concerns

The powers that be in China seldom listen to advice from any outsiders. One former central banker, however, thinks that global cooperation is needed, especially in response to Facebook’s Libra. China has fast-tracked the development of its central bank digital currency (CBDC), primarily over fears that Facebook could dominate if it gets there first. The […]

China’s Nationwide Blockchain Network BSN Will Launch in April 2020

Founded by government-run entities, China’s nationwide blockchain network will launch in April 2020, following a six-month beta testing period. China’s nationwide blockchain network, the Blockchain-based Ser­vice Net­work (BSN), will launch in April 2020, six months after it was rolled out for testing. Backed by Chinese government policy think tank the State In­for­ma­tion Cen­ter (SIC), the […]

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 warned not to rush into creating digital currency to rival Facebook’s Libra, instead join global debate

A new theory appears to be emerging in China with regards how it should cope with the potential challenges from Facebook’s blockchain digital currency Libra, with suggestions it should shift towards working with other nations to regulate the sector rather than fast-track its own alternative medium of exchange. Debate continues over whether and how China’s […]

Yuan to Go Digital

Chinese digital currency, the first of its kind in the world, to offer both convenience and security After the remarkable success in digitalizing payments nationwide, China is ready to unveil its next financial innovation by launching its own digital currency, the central bank digital currency (CBDC). The flourishing of the world’s first cryptocurrency Bitcoin, a […]

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. TAGS: Initial Coin Offerings Cryptocurrency Exchange Bitcoin Ethereum Crypto Market Cryptocurrencies Crypto startups Over-innovated financial products with […]

China gives Ethereum a promotion

China’s state-backed tech workgroup has released its 15th blockchain technology assessment, promoting Ethereum to second place after its recent hard fork, Cointelegraph reported The Center for Information and Industry Development (CCID) released the list on December 6, ranking 35 assets in total. In the latest rankings, EOS kept its top spot, Ethereum moved from third […]

China’s Digital Yuan Will Target Retail Payments First, Ex-Central Banker Says

One of China’s first goals with its central bank digital currency is to facilitate retail payments, a former senior official said Monday. Speaking at the Caixin Hengqin Forum in Zhuhai, former head of the People’s Bank of China Xiaochuan Zhou said the country will stress the retail use of digital payment for the digital yuan, […]

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 […]

What is China’s digital currency plan?

The central bank has been quietly working on the project for five years. What do we know? Since 2014, China’s central bank has been working on a project called “DC/EP”: Digital Currency/Electronic Payments. Yi Gang, the governor of the People’s Bank of China, said the plan was not to create a new currency, such as […]

Bubble or smart bet? Blockchain-stock frenzy in China spotlights hype and hope for investors in new technology

Profitable application of promising technology is years away, analysts say Xi Jinping’s call for rapid blockchain development creates quick boom and bust for linked stocks Are blockchain stocks the next big thing for investors? Analysts think not. They smell another speculative bubble. Blockchain-related stocks went on a wild roller-coaster ride last week, triggered by a […]

New digital currency sets the world talking

Adoption of stablecoins proves popular. Different forms of currency have been used over the ages — such as seashells, wampum and metal coins — and in more recent times, bank notes made from paper and plastic are in wide circulation. Nowadays, the digital era is set to redefine the features of money and the ways […]

Crypto contradiction: Boom Bust explores how governments try to control cryptocurrencies that were not meant to be regulated

China’s Central Bank has unveiled plans to roll out its own digital currency, which will be called DCEP (Digital currency Electronic Payment). Beijing has been working on the project for about five or six years. RT’s Boom Bust talks to Todd Horwitz of Bubba Trading about the latest in digital currency developments. “If you look […]

Chinese Regulators Question 8 Crypto Companies in Shenzhen

Authorities in Shenzhen have started pressuring crypto businesses operating in China’s tech capital. Eight companies, two suspected operators of trading platforms, and six entities allegedly associated with coin offerings, have been placed under inquiry, Chinese media revealed, with authorities reportedly questioning their representatives at a meeting hosted by Shenzhen Financial Regulatory Bureau. Exchanges and ICOs Under […]

China rushes to embrace blockchain with Facebook’s Libra just around the corner

People’s Bank of China is preparing to launch its own digital currency, with President Xi Jinping urging an aggressive approach Last week, Facebook founder Mark Zuckerberg told US lawmakers that Libra was essential to projecting American financial leadership around the world China is looking to apply blockchain and artificial intelligence technologies in cross-border financing and […]

China’s Riskiest Banks Have Run Into Trouble. Why That Matters in the U.S.

China’s long-running debt problems reached a tipping point this year, crippling numerous small lenders and raising concerns about a systemic liquidity crunch. The lack of confidence resulted in multiple rural bank runs. Worse still, the estimated trillions of dollars of debt across the country is likely to be larger than is measurable, due to years of so-called […]

Social Trading Tools Might Be the Key to Simplifying Crypto Trading for Retail Investors

Cryptocurrency means different things to different people. To early adopters, millennials, techies, geeks, and risk-loving investors, cryptocurrency is the future of money. During bull markets, the incredible performance of cryptocurrencies over traditional assets such as equities, real estate, and gold often makes a solid case for why crypto deserves a place in your portfolio. However, […]

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