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Chinese Central Bank May Apply Smart Contract Technology to Digital Yuan
6.7.2022
The central People’s Bank of China (PBoC) could be set to make use of smart contracts in its digital yuan project – an indication that blockchain technology could well end up playing a larger role than expected in the e-CNY’s future....
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Chinese Digital Yuan Spending on the Rise Despite COVID-19-induced Slump
22.6.2022
Digital yuan usage has grown x18 in the past 12 months in China – as the central bank-issued token continues to find new users.
According to the central People’s Bank of China, transaction volumes reached the USD 13 billion mark at the end of last year, with a total of 261 million personal...
City of Shenzhen airdrops 30M in free digital Yuan to stimulate consumer spending
30.5.2022
The move comes as part of a government effort-led to revitalize consumer spending as a zero-COVID policy has devastated the countries' economic hubs
Senators Introduce Bill to Limit Use of China’s Digital Currency in the US — ‘This Is a Major Financial and Surveillance Risk’
28.5.2022
Several U.S. lawmakers have introduced a bill to prohibit app platforms in the country from hosting apps that enable transactions using China’s central bank digital currency, the digital yuan. “The Chinese Communist Party will use its digital currency to control and spy on anyone...
Draft bill to ban China’s digital yuan from US app stores
27.5.2022
Three Republican senators introduced a bill to protect Americans from the "Authoritarian Digital Currencies Act."
Chinese Banks Launch Automatic Digital Yuan-to-Fiat Conversion Tools
11.5.2022
Chinese banks are exploring new methods of enabling digital yuan users to earn interest on their central bank digital currency holdings – with “smart management” tools that can detect when funds have been left idle for long periods of time....
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Alipay Provides Digital Yuan Boost as COVID-19 Deals PBoC Blow
7.5.2022
The e-payments giant Alipay, part of the Alibaba business empire, has added an advanced search function for users wishing to use its platform to make payments using the digital yuan within the fast-expanding pilot zone....
Read More: Alipay Provides Digital Yuan Boost as COVID-19 Deals PBoC Blow
Digital Yuan Giveaway: Shenzhen Residents to Receive 15 Million Yuan in Digital Currency
29.4.2022
The Chinese government is giving away 15 million yuan in central bank digital currency (CBDC) to 130,000 residents of Shenzhen this Friday. The digital yuan can be used at nearly 5,000 stores with no minimum purchase required. Digital Yuan Pilot Continues China’s central bank,...
Residents of 3 Chinese cities paying taxes and charges with digital yuan
29.4.2022
China has expanded its central bank digital currency pilot program to include the payment of tax, stamp duty and social security
Digital Yuan Now Being Used to Pay Taxes in Chinese Pilot Zones
29.4.2022
Some Chinese citizens now appear to be paying their taxes in the digital yuan, with the pilot gathering pace in the nation’s fast-growing pilot area.
Per Hangzhou.com, a number of government organs in Zhejiang province are trialing solutions that involve “the online transfer of digital yuan”...
Chinese Man Uses Digital Yuan to Pay Court-issued Fine in Legal First
22.4.2022
Chinese media outlets have been reporting on a new first for the digital yuan – with the central bank-issued token used to pay a court-issued fine for the first time.
Per Chinaqw, on April 19, a man surnamed Wei, the plaintiff in a motor vehicle traffic accident liability dispute case, had been...
Ex-Chinese Central Bank Chief Says Digital Yuan Not Intended for International Trade
20.4.2022
The former governor of the central People’s Bank of China (PBoC) has reiterated claims that the forthcoming digital yuan has been designed primarily for retail use by domestic and even international users – not for cross-border trade purposes.
China has loosely pegged the value of its yuan fiat...
New Tencent Digital Yuan Wallet Preparing to Launch
16.4.2022
First images have emerged of specialized digital yuan wallets provided by the Tencent-run e-pay platform WeChat Pay.
Although the wallets are still in what appears to be beta testing and are not yet fully functional, some media outlets – such as Sina – appear to have been able to open wallets...
Central Banks Struggle With Privacy-related CBDC Headaches
13.4.2022
As a number of countries across the globe are working on developing their respective central bank digital currencies (CBDCs), ensuring a separation between identity and transaction data could produce a better environment for privacy protection and could lead to public confidence and trust...
WeChat Pay to Offer Digital Yuan Payment Options as China’s CBDC Pilot Expands
8.4.2022
The Chinese e-pay platform WeChat Pay has unveiled a digital yuan interoperability solution that will allow users of the service to make payments in the central bank-issued token.
As reported, the central People’s Bank of China (PBoC) has recently expanded the number of cities included in...
China’s Central Bank Adds More Digital Yuan Pilot Cities
5.4.2022
China’s central bank, the People’s Bank of China, has added more cities to test its digital currency. According to the latest official data, the digital yuan has more than 261 million users. PBOC Adds More Cities to Test Its CBDC The Chinese central bank, the People’s Bank...
UnionPay Launches Self-service Platform for Merchants to Add Digital Yuan Pay Options
29.3.2022
Chinese businesses are finding more uses for the digital yuan – with merchants being offered services that allow them to sign up to receive central bank digital currency (CBDC) payments through third-party operators.
Per an article from China National Radio, the domestic financial behemoth...
Russian, Chinese Central Banks ‘Working Together On SWIFT-Alternative Interoperability’
18.3.2022
A senior Russian parliamentarian has claimed that the Central Bank is working with the People’s Bank of China on workarounds that may help the countries bypass the SWIFT banking network – including domestic alternatives, blockchain solutions, and digital fiats....
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China’s Digital Yuan App Gets Update as Police Deal with First-Ever CBDC ‘Fraud’ Case
15.3.2022
The central People’s Bank of China (PBoC) has added new functionality to its pilot digital yuan app – but it appears that some citizens are already trying to commit crimes using the new token, and have attempted to use it to launder money.
Per IT Home, the PBoC’s app, which debuted in 11 cities...
China’s Digital Yuan Targeted in New Bill From Nine GOP Senators
10.3.2022
The Say No To the Silk Road Act stems from not only the well-known privacy concerns around the Chinese CBDC, but also from worries it could be a tool to evade sanctions