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Russian Commodities Firms Turn to Stablecoins for Transactions with Chinese Counterparts

28.5.2024
Russian commodities firms facing challenges in executing financial transactions with Chinese counterparts have turned to stablecoins. The post Russian Commodities Firms Turn to Stablecoins for Transactions with Chinese Counterparts appeared first on Cryptonews

Major Chinese Bank Offer Digital Yuan Users Carbon Credit Rewards

28.5.2024
A major Chinese Bank, Industrial Bank, will reward digital yuan-using customers with carbon points as it targets CBDC adoption. The post Major Chinese Bank Offer Digital Yuan Users Carbon Credit Rewards appeared first on Cryptonews

Former Google China boss doubles down: AI to take 50% of jobs by 2027

26.5.2024
Kai-Fu Lee predicted the modern AI zeitgeist back when OpenAI was a non-profit building chatbots

Expert Says Peer-to-Peer Nature of Crypto Activity Renders China’s Ban Ineffective

26.5.2024
Continuing raids in China on alleged underground gangs using cryptocurrency to facilitate foreign exchange transactions underscore the ineffectiveness of the Asian nation’s 2021 ban on crypto trading. Chengyi Ong, head of policy for the Asia-Pacific region at Chainalysis Inc., said...

UK Sentences Woman to Prison for Laundering Bitcoin After Police Seize 61K BTC

25.5.2024
A woman has been sentenced to nearly seven years in prison for laundering bitcoin tied to a £5 billion fraud in China. Authorities seized over 61,000 bitcoin during their investigation, now worth over $4 billion. The woman denied all charges, claiming she was manipulated by...

Analyst: Gold Demand From China Continues Supporting the Bull Market

23.5.2024
Jan Nieuwenhuijs, a gold market analyst, has assessed the state of the gold market, reporting that growing demand from both the private market and the People’s Bank of China (PBOC) has been instrumental in the rise of gold prices. Chinese private investors purchased 543 tonnes during...

‘Really Stupid and a Huge Mistake:’ Putin Blasts US Actions Blocking Payments to China; Exporters Turn to Small Banks and Crypto

20.5.2024
Russian President Vladimir Putin charged against the U.S. actions seeking to block Russian payments to China and other countries. During a two-day trip to China, the Russian leader emphasized that this strategy was “really stupid and a huge mistake,” considering that these actions...

Balaji Srinivasan Highlights China’s Dedollarization and Envisions Post-Dollar Economy

20.5.2024
Balaji Srinivasan, former CTO of Coinbase, recently shared his insights on the global economy and the future of the U.S. dollar on social media. He discussed the concept of dedollarization, suggesting that China and other countries are moving away from U.S. debt and investing in gold instead....

10 US Spot Bitcoin ETFs Absorbed 548,556 BTC Worth $36 Billion in 128 Days

19.5.2024
According to recent data, the ten spot bitcoin exchange-traded funds (ETFs), excluding Grayscale’s Bitcoin Trust (GBTC), acquired 548,556.62 BTC from the market over the last 128 days. This acquisition means the ten newly introduced spot bitcoin ETFs collectively hold 2.78% of the crypto...

China’s $53.3B Divestment in US Treasuries Signals Massive Shift From Dollar Assets

18.5.2024
According to records, China has divested $53.3 billion in U.S. Treasury notes and agency bonds during the first quarter. Some analysts suggest this reduction in foreign exchange reserves might be China’s strategic move to leverage its holdings against the United States. China’s Treasury...

Hong Kong Launches Personal e-CNY Wallets For Cross-Border Payments

17.5.2024
The e-CNY, also referred to as the digital yuan, is China's state-backed digital currency, and users can now open digital wallets and store it outside of mainland China in Hong Kong. The post Hong Kong Launches Personal e-CNY Wallets For Cross-Border Payments appeared first on Cryptonews

China Expands Digital Yuan Pilot: Hong Kong Residents Can Now Set up E-CNY Wallets Locally

17.5.2024
The Hong Kong Monetary Authority (HKMA) and the People’s Bank of China (PBOC) have advanced the digital yuan (e-CNY) pilot for payments, aiming to increase e-CNY wallet usage in Hong Kong. Residents can now set up and top up wallets via the Faster Payment System (FPS), marking the first global...

Hong Kong Expands Cross-Border Digital Yuan Trial, Allows Residents to Set Up E-CNY Wallets

17.5.2024
The pilot will also allow e-CNY wallets to pay retailers, but not person-to-person transfers

Hong Kong digital yuan pilot lacks P2P capabilities

17.5.2024
While Hong Kong residents can sign up for a digital yuan (e-CNY) wallet with a phone number, the CBDC is currently restricted to cross-border transactions and cannot be used for person-to-person transfers within Hong Kong

SWIFT China President Wen Yang on Overcoming Barriers in CBDC Systems

17.5.2024
SWIFT China President Wen Yang discusses the challenges and solutions for cross-border CBDC interoperability and initiatives to bridge the technological gaps between different CBDC systems. The post SWIFT China President Wen Yang on Overcoming Barriers in CBDC Systems appeared first on Cryptonews