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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”...
First Mover Americas: Bitcoin Holds $40K, Yuan Drop May Add to Risk-Aversion
22.4.2022
The latest moves in crypto markets in context for April 21, 2022
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...
IMF Warns Russia Sanctions Threaten to Undermine US Dollar Dominance
1.4.2022
Financial sanctions imposed on Russia over its invasion of Ukraine may result in reduced dominance of the U.S. currency, according to a high-ranking official at the International Monetary Fund (IMF). The confrontation could lead to fragmentation of the world’s current monetary system,...
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...
Russia's energy chief says it would accept Bitcoin for oil and gas
25.3.2022
The heavily-sanctioned country is scrambling to find ways to increase its revenue and has floated the possibility of allowing China and Turkey to pay for energy in Bitcoin
US exceptionalism could be tested as digital assets find footing worldwide — Sheila Warren
22.3.2022
“Innovation is going to flow to where it can thrive the most, and actively trying to block it is going to encourage it to head elsewhere," said Sheila Warren
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....
Read More: Russian, Chinese...
Blockchain Association policy head: US shouldn't compete with China's CBDC using surveillance tools
16.3.2022
"We will not compete against China — an authoritarian dictatorship — by also acting like an authoritarian dictatorship," said Jake Chervinsky
Saudi Arabia Mulls Pricing of China Oil Sales in Yuan: WSJ
15.3.2022
Chatter about the Saudis accepting yuan instead of dollars has been ongoing for several years, but recent events have brought new urgency to the matter
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
Republican lawmakers introduce bill targeting China's CBDC on sanctions, privacy
10.3.2022
"This bill holds China accountable as they introduce their new digital currency,” said Senator Bill Cassidy
First Mover Asia: China to Widen Test of Digital Yuan as Russia Invasion Spotlights Crypto’s Potential Role; Cryptos Decline
4.3.2022
The country is close to approving trials of the central bank digital currency in a number of cities and regions; bitcoin and ether drop as risk-on appetite fades