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QCP Capital Analyzes Bullish Macro Trends Impacting Bitcoin and Risk Assets
25.9.2024
According to QCP Capital’s latest analysis, macroeconomic conditions are becoming increasingly favorable for risk assets, including cryptocurrencies. Central bank policies, particularly from China and the U.S. are playing a crucial role in shaping market sentiment. QCP Capital: Central Bank...
China Halts Gold Buying in May, Ending 18-Month Buying Spree
9.6.2024
The People’s Bank of China (PBOC) paused its gold acquisitions in May, ending 18 months of continuous buying as spot gold prices hit record highs. Despite this interruption, the value of China’s gold reserves continued to rise. China Pauses Gold Buying in May China’s central bank...
China’s Central Bank Publishes Digital Yuan Guide for Foreign Visitors
18.3.2024
The People’s Bank of China publishes a digital yuan service guide for foreign visitors, detailing steps to download apps, open wallets, link accounts, and complete payments.
The post China’s Central Bank Publishes Digital Yuan Guide for Foreign Visitors appeared first on Cryptonews
Chinese Central Bank to Expand Digital Yuan Pilot in Hong Kong
26.1.2024
The central People’s Bank of China says it plans to expand its “cross-border” digital yuan pilot in Hong Kong. Per a Weibo post from the media outlet Caixin, and a report from The Paper, the Deputy Governor of the PBoC Xuan Changneng said the bank wants to “deepen the cross-border e-CNY pilot”...
Gold Rush Continues – Central Banks Purchased 44 Tonnes in November
8.1.2024
Krishan Gopaul, senior analyst of the World Gold Council, revealed that central banks kept adding gold to their reserves during November. According to public records and reports from the International Monetary Fund (IMF), central banks added 44t of gold to their coffers, with the Central Bank...
People’s Bank of China Stresses on Global Regulation for Crypto and DeFi Markets
22.12.2023
Source: Eagle/Adobe China’s central bank has called on global financial authorities to regulate the digital asset and decentralized finance (DeFi) markets in its recent financial stability report. The People’s Bank of China released a report on Dec 22 highlighting a regulatory pathway for local...
Ex-Central Bank Chief Says China ‘Must Lead World’ in CBDC Adoption
18.12.2023
Source: Eagle/Adobe The former Governor of China’s central bank, Dai Xianglong, has insisted that China needs to “lead the world’ in CBDC adoption, as the nation’s digital yuan pilot continues. Per a Weibo post from the media outlet Finance iFeng, former People’s Bank of China (PBoC) chief Dai said...
Chinese Cities Launch End-of-Year Digital Yuan Giveaways
8.12.2023
Source: Putra/Adobe More Chinese cities will give away digital yuan tokens and discount vouchers this month, as the People’s Bank of China (PBoC) looks to spur CBDC adoption. The Hebei News Network reported that the PBoC’s Hebei branch and local government authorities in the province will give...
More Hong Kong Banks Set to Join Digital Yuan Pilot, Gov’t Confirms
1.12.2023
Source: dmitriy/Adobe Hong Kong’s government says more banks based in the country are preparing to join Mainland China’s digital yuan pilot. Mainland China’s central bank, the People’s Bank of China (PBoC), wants to expand its CBDC’s cross-border applications. And it seemingly wants even more...
People’s Bank of China Tests Digital Yuan Payment Integration in Hong Kong
18.11.2023
The People’s Bank of China (PBOC) and the Hong Kong Monetary Authority (HKMA) are in the second phase of the integration tests of the digital yuan for payments and cross-border transactions in Hong Kong. This new phase includes more banks and the ability to use the Fast Payment System to...
China Mulls Digital Yuan Settlements for Commodities
7.11.2023
The People’s Bank of China (PBOC) is considering using the digital yuan to settle services and commodities trades with Hong Kong. According to Di Gang, deputy director-general of the Digital Currency Institute of the PBOC, this would help companies avoid the difficulties of using a single...
People’s Bank of China Governor Vows to Curb Crypto Speculation
23.10.2023
The new governor of China’s central bank has promised to stop speculation associated with cryptocurrency transactions in the country. Pan Gongsheng made the vow in a report detailing measures to maintain the stability of the Chinese financial market and prevent risks. PBOC Prepares to Crack Down...
China Wants the Digital Yuan to Be Ubiquitous in Retail Payments Arena
6.9.2023
China is pushing for universal national adoption of the digital yuan, with People’s Bank of China’s (PBOC) officials stating the currency should be available for all retail payment scenarios. The recent introduction of a standard for QR-based payment codes is part of this move, which...
China’s Central Bank: Digital Yuan Transactions Reach $250 Billion
23.7.2023
China’s central bank governor has revealed that transactions using the country’s central bank digital currency (CBDC) reached 1.8 trillion yuan ($250 billion) at the end of June. In addition, the People’s Bank of China (PBOC) official stated that digital yuan in circulation amounted...
Chinese City of Jinan Implements Digital Yuan Payments for Public Transportation Fares
5.7.2023
Jinan, the capital of the Chinese province of Shandong, has recently included the digital yuan as a means of payment for its public transportation system. According to local sources, digital yuan payments were implemented on July 1 in all city buses after being tested in just two bus lines. Jinan...
Latam Insights —Tether to Start Bitcoin Mining Operations in Uruguay; Lula Proposes Abandoning US Dollar
5.6.2023
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue, Tether announces a sustainable Bitcoin mining project in Uruguay, Brazil’s President Lula proposes a shift away from the U.S. dollar, and Argentina...
Crypto Traders Need to Pay Attention to Chinese Yuan
31.5.2023
The Chinese yuan has declined by 2.7% against the U.S. dollar this month, while bitcoin has dropped by 7.3%
Chinese Autonomous Region of Guanxi to Adopt Digital Yuan in Push for ASEAN Trade Integration
20.5.2023
The Chinese autonomous region of Guanxi, located in the south of China, will implement a wide adoption plan for the digital yuan, that includes a push for using it as a trade currency with countries part of the ASEAN bloc. This pilot plan looks to be part of the experimentation to step up the usage...
Inflation in China Down to Lowest Number in More Than Two Years; Analyst Proposes Giving Cash Handouts to Avoid Deflation
13.5.2023
Inflation in China registered an increase of 0.1% year-over-year in April, according to numbers from the National Bureau of Statistics of the country, falling below expectations. Some analysts are already warning about the dangers of deflation, even calling on the Chinese government to deliver cash...
China Pushes Digital Yuan for Wage Payments in Changshu
25.4.2023
Changshu, a city in China with more than 1.5 million inhabitants, will pay public workers’ wages with the Chinese central bank digital currency (CBDC), the digital yuan. The move marks an acceleration of the adoption plans that Beijing has for the digital currency, which has been included...