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Bitcoin Gains Recognition As A Unique, Non-Replicable Digital Asset Following Chinese Court Report
26.9.2023
The Shanghai Second Intermediate People's Court in China has explained that Bitcoin (BTC) stands out as a unique virtual asset based on several attributes including its scarce nature.
On Sept. 25, the court published a report “Legal Attributes and Judicial Disposal of Digital Currency”...
US Presidential Candidate Nikki Haley: China Preparing for War and Xi Jinping Intends to Win
26.9.2023
U.S. presidential candidate Nikki Haley has warned that China is preparing for war and Chinese President Xi Jinping intends to win. “China is an existential threat. It has spent half a century plotting to defeat us,” she stressed, cautioning that China is “building a massive cutting edge military...
Chinese Banks, Firms Make Digital Yuan Smart Contract Progress
22.9.2023
Chinese banks and businesses want to step up their use of digital yuan-powered smart contracts, as the financial and industrial sectors eye CBDC progress.
Per the Securities Times (via Stockstar), the state-run Postal Savings Bank of China has “officially” co-launched the nation’s first...
Chinese “Super SIM” Cards to Feature New Digital Yuan Functions
21.9.2023
New Chinese “Super SIM” cards will function as digital yuan wallets, smartcards, and ID cards as the nation’s CBDC pilot continues.
Chinese mobile operators such as China Mobile have been working on so-called “Super SIM” offerings since 2016.
They have added a range of functionality to the cards...
Chinese Central Bank Updates Digital Yuan App – Here’s the Latest
18.9.2023
The Chinese central bank has updated its digital yuan app, adding new CBDC-powered features, “service” options, and utilities bill payment functions.
The central People’s Bank of China (PBoC) released its mobile app in early 2022.
It followed up with a major update at the end of last year.
Per...
More Chinese Firms Paying Workers in Digital Yuan
13.9.2023
More Chinese companies are using the digital yuan to pay their workers, as Beijing looks to spur the adoption of its CBDC.
Per the Huizhou Daily, the latest firm to trial paying staff in CBDC is a state-run bureau, a body that overseas finances at the Zhongkai High-tech Industrial Development...
Digital Fiats Will Help Us De-Dollarize, Claims Chinese Academic
12.9.2023
Digital currencies will help China and its allies de-dollarize, a leading Chinese academic has claimed, as the nation continues to make CBDC progress.
The comments came from Huang Qicai, the Deputy Director of the Fujian Academy of Social Sciences in an opinion piece for Guangming Daily.
The...
Digital Yuan Will Revolutionize Chinese Retail Payments – Central Bank Exec
6.9.2023
A Chinese central bank chief has claimed the digital yuan will revolutionize the way the nation makes retail payments, and suggested the CBDC could one day “completely replace” cash.
Per Yicai, Mu Changchun, Head of the Digital Currency Research Institute at the People’s Bank of China (PBoC), made...
80 Chinese crypto influencer accounts shut down in latest crackdown
5.9.2023
The accounts had over 8 million in combined followers before they were removed
JPMorgan Analyzes De-Dollarization Risk, Potential for Chinese Yuan to Displace US Dollar as Reserve Currency
5.9.2023
JPMorgan has provided an analysis of the risks of de-dollarization and the potential for the Chinese yuan to displace the U.S. dollar as the world’s reserve currency. The global investment bank says the renminbi could assume “some of the current functions of the dollar among non-aligned countries...
Chinese Bank Uses Digital Yuan Giveaway to Promote Waste Recycling Drive
4.9.2023
A Chinese commercial bank has launched new digital yuan-powered recycling rewards programs, with citizens receiving CBDC tokens in exchange for recycling their waste.
Per Danzong, via Xinhua, the Qingdao Branch of the Bank of Communications has launched a CBDC-powered rewards solution.
The bank...
Dollar Share in Reserves Drops Below 60%, Yuan Rises, Russian Diplomat Says
2.9.2023
The share of currencies other than the U.S. dollar and the euro in international reserves is on the rise, according to a Russian representative. The trend is being observed as a growing number of countries try to use their national currencies in foreign trade settlements, the official noted. Russia...
Chinese Yuan Not Ready to Topple US Dollar as World Reserve Currency, Says Strategist
2.9.2023
A global macro strategist has explained that the Chinese yuan is unlikely to replace the U.S. dollar as the global reserve currency. She emphasized that the “weaponization” of the USD is one of the top reasons why Russia, China, and other BRICS nations have been seeking an alternative...
US Lawmaker: Americans Don’t Need CBDC That Can Track Purchases Like China’s Digital Yuan
1.9.2023
Several lawmakers have expressed concerns about the privacy risks of the Federal Reserve issuing a central bank digital currency (CBDC). “Americans have a right to financial privacy,” one congressman said, emphasizing: “We do not need a CBDC that can track your purchases like China does...
China's Baidu and other tech companies release ChatGPT-like AI chatbots
31.8.2023
Multiple Chinese tech companies launched their own ChatGPT-like AI chatbots for mass market use two weeks after China’s AI regulations came into force which requires prior government approval
Swiss SEBA Bank Obtains In-Principle Approval to Offer Crypto Services in Hong Kong
31.8.2023
Switzerland-based crypto-friendly SEBA Bank announced it has received an approval-in-principle to operate in Hong Kong. The regulatory nod brings the Swiss bank’s local entity closer to becoming a licensed provider of various services for crypto assets in the Chinese region. SEBA Bank Takes a Step...
Chinese gov’t fires up the printer — How will it impact Bitcoin price?
29.8.2023
China enacted a number of economic stimulus initiatives to bolster its stock market but will there be a down the pipeline impact on Bitcoin?
US Dollar Dominance in Global Payments Strengthens, SWIFT Data Shows
27.8.2023
The U.S. dollar’s dominance in global payments has strengthened, according to data compiled by global financial messaging service SWIFT. The share of SWIFT FX transactions involving the U.S. dollar rose to a record 46% in July. In addition, the share of the transactions involving the Chinese yuan...
Brazil Proposes Plan to Settle Bilateral Trade With Argentina in Chinese Yuan
26.8.2023
The government of Brazil has formally presented a proposal to Argentina to settle bilateral trade transactions in the Chinese yuan. The proposal, which would leverage resources in the Chinese credit swap line, aims to maintain trade between the countries and secure the payment of Brazilian...
BRICS States Should Tackle AI Risks Together, Xi Jinping Says
25.8.2023
BRICS nations should address the risks related to artificial intelligence (AI), Chinese President Xi Jinping said during the group’s summit in South Africa. China’s leader is also convinced that the members of the economic bloc must work to standardize the technology. BRICS Should Strive for...