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Digital Yuan to Promote International Use of Chinese Currency, Experts Say
30.7.2021
The new digital yuan, currently undergoing trials, can help to increase the international usage of China’s national fiat, experts have stated. As the renminbi (RMB, CNY) is becoming one of the world’s most important currencies, the People’s Bank of China is planning to conduct...
Shanghai Man: Crypto recovers, disasters strike, and China’s crackdown moves to other sectors
30.7.2021
Ex-Bank of China Chief Issues DeFi Warning
29.7.2021
The former head of the commercial banking giant the state-owned Bank of China has sent out a warning about decentralized finance (DeFi) and cryptocurencies.
Per the 21st Century Business Herald, via East Money, Li Lihui, who was appointed President of the Bank of China in 2004, stated that...
Western nations need better public-private cooperation on crypto, says Mohamed El-Erian
29.7.2021
The famous economist has warned that western nations risk losing out to China in the emerging digital economy if they continue to be dismissive of crypto
Bit Mining to Deploy Another 2,500 Bitcoin Miners in Kazakhstan
29.7.2021
Bit Mining is going to expand its operations in Central Asia with the purchase of 2,500 crypto mining machines slated for deployment in Kazakhstan. The new devices are expected to increase the Chinese company’s total hashrate capacity by an estimated 165 petahashes per second. Bit Mining Buys...
Bitcoin hash rate rebounds as major miners are coming back online
29.7.2021
Restrictions in China have forced homegrown Bitcoin miners to move out to crypto-friendly nations such as Canada, Kazakhstan and the United States
EU entrusts $30M to new blockchain and digital assets fund
29.7.2021
The European Investment Fund invested $30 million in a new $120 million blockchain and digital assets fund, highlighting the sector’s “strategic importance” for the EU
Iran Raises Alarm Over Potential Influx of Miners From China
28.7.2021
With the government in Beijing cracking down on their operations, Chinese miners have been on the lookout for other jurisdictions. Providing low-cost energy, Iran has emerged as a prospective destination. However, the country’s state-owned power utility has expressed concerns over a possible...
Huobi winds down former exchange operator in China
27.7.2021
Huobi's move follows a similar decision by crypto exchange OKEx, which resolved to dissolve its China-based entity in late June
China's crackdown signals an oncoming crypto ban, Bobby Lee says
26.7.2021
China has been increasing its regulatory pressure on crypto firms to help Chinese citizens stay clear of high-risk investments
Countries representing over 90% of global GDP are exploring CBDCs
25.7.2021
Governments around the world are pouring more resources into CBDC research and exploratory use cases. Among the major economies, China appears to be pulling ahead and has plans to implement digital-yuan usage during the 2022 Winter Olympics in Beijing
Strategist Mike McGlone Believes Bitcoin Can Jump to $60K Resistance vs. $20K Support
25.7.2021
The senior commodity strategist at Bloomberg Intelligence, Mike McGlone, has been long on bitcoin for a while now and he said last month that bitcoin has a “bullish ace up its sleeve.” This week the strategist’s analysis notes that bitcoin prices will likely revert toward the $60K...
Bitmain to Host Miners in 180-Megawatt Data Center in Kazakhstan
24.7.2021
Crypto mining hardware manufacturer Bitmain has partnered with Enegix to host Antminer S19 Pro devices in one of the world’s largest data centers. The facility located in Kazakhstan is designed to accommodate more than 50,000 mining rigs. Bitmain to Work With Mining Facility Operator Enegix...
Bitcoin price hints at 'megaphone' bottom pattern, and a breakout toward $40K
24.7.2021
The megaphone-shaped pattern reflects growing disagreement between investors over the next Bitcoin trend bias
Chinese Miners Pivot to Alternative Currencies to Keep Operating
24.7.2021
The Chinese mining crackdown forced many miners to stop their operations and relocate. But another group of miners is planning to pivot to new, more efficient mining schemes to keep operating in the country. Lesser-known tokens and proof-of-stake-based systems are now in the sights of these miners...
China Offers Medics Digital Yuan Insurance Policy for Covid-19
21.7.2021
China’s first insurance policy using the digital yuan for settlement has been issued in Shenzhen, local media reported. The new product, targeting medical personnel exposed to coronavirus risks, is offered by the country’s largest insurer, Ping An. The financial giant also has fintech...
US Senators Seek to Forbid American Athletes From Receiving and Using Digital Yuan During Beijing Olympics
21.7.2021
Three U.S. senators have urged the United States Olympic & Paralympic Committee to forbid American athletes from receiving or using digital yuan during the Beijing Olympics. Raising many concerns, including privacy, they warned, “Olympic athletes should be aware that the digital yuan...
Digital yuan pilots expand to insurance industry for the first time
21.7.2021
China's central bank digital currency can now be used on insurance policies that offer various levels of compensation for diagnosis of or death due to COVID-19
China Hits out at Senators Who Asked for an Olympic Block on Digital Yuan
21.7.2021
Beijing has lashed out at three Republican senators who have asked the United States Olympic & Paralympic Committee to block American athletes from using the digital yuan, the central bank digital currency (CBDC) that China is hoping to dazzle the world with at the 2022 Beijing Winter Olympics...
China wants US senators to ‘stop making trouble’ out of digital yuan
21.7.2021
China's Foreign Ministry responded to U.S. senators' claim regarding the digital yuan's function as a tracking and tracing tool during the 2022 Beijing Winter Games