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Shaoxing, China, Launches Asian Games-themed Digital Yuan Giveaway – CBDC Showcase Planned
26.7.2023
The Chinese city of Shaoxing is planning an Asian Games-themed digital yuan giveaway, as the nation prepares for a major central bank digital currency (CBDC) showcase.
China News Network (via East Money) reported that Shaoxing will issue residents with around $5.6 million worth of digital yuan...
Chinese Bank Launches CBDC Bulk Commodity Clearing Service – Digital Yuan Adoption Accelerates?
26.7.2023
Banks in China are looking to adopt the digital yuan in more of their operations, and have launched the nation’s first central bank digital currency (CBDC)-powered settlement service for bulk commodity spot clearing.
Per JRJ, Industrial Bank, a Fuzhou-based joint-stock commercial bank,...
Economist Analyzes Challenges of BRICS Currency Competing With US Dollar
26.7.2023
An economist has shared her analysis of how a common BRICS currency could compete with the U.S. dollar. “You need foreign exchange reserves and you need the trust of the investment community,” she explained, noting that the only country in the BRICS economic bloc to carry such a reserve...
China’s blockchain satellite in space, Hong Kong’s McNuggets Metaverse: Asia Express
25.7.2023
China launches world’s first blockchain satellite into space, meanwhile, McDonalds Hong Kong brings McNuggets into the Metaverse
Economist Jim Rickards States BRICS Currency Will Leverage Gold to ‘Destroy the Dollar’
25.7.2023
Jim Rickards, economist and best-selling author, has explained the possible repercussions of issuing a BRICS bloc currency for the dollar. For Rickards, the “bric” (the name he gives to the BRICS currency) will be anchored (but not redeemable or backed) to a weight of gold and will...
Top Lawmaker Suggests China and Russia’s CBDCs Are ‘Compatible’
25.7.2023
A leading Russian lawmaker says China and Russia’s CBDCs may be “compatible” and could be used to make international payments between the nations.
Per RBC, the comments were made by Anatoly Aksakov, a member of the State Duma from Chuvashia’s Kanash constituency and the Chairman of the State Duma...
Today in Crypto: WeChat & Alipay Enable Foreigners to Pay at Chinese Retailers, ETH 699,816 Paid as Royalties to NFT Projects on Ethereum, Hana Bank & Woori Bank 'Interested in Certificate of Deposit' Tokens
24.7.2023
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________...
Read More: Today in Crypto: WeChat & Alipay Enable Foreigners to Pay at Chinese Retailers, ETH 699,816 Paid as Royalties to...
Bitcoin Drops to $29K as WSJ Ratchets Up Binance Issues, China Warns of Tortuous Recovery
24.7.2023
Regulatory uncertainty surrounding Binance, the largest crypto exchange, tends to weigh on crypto prices
Former UN Security Council President Kishore Mahbubani: ‘The American Century Is Over’
24.7.2023
Kishore Mahbubani, the former president of the United Nations Security Council, stated China will dominate this century. Mahbubani declared that the so-called “containment policy” against China would fail, leaving the U.S. isolated from other nations due to its military approach to...
Next Year’s BRICS Summit to Gather More Than 5 Leaders, Russian Diplomat Predicts
24.7.2023
Moscow expects the number of leaders participating in the 2024 BRICS summit to be greater than five, according to a high-ranking Russian diplomat. The statement comes as the five-member organization prepares to discuss its enlargement at its meeting at the top this year, with dozens of nations...
Singapore, US With Highest Public Debt per Capita, China Most Indebted in BRICS: Study
23.7.2023
Singapore, the United States and Japan top the global chart in terms of sovereign debt per capita, according to research based on U.N. data. The burden of government debt for every American is 10 times heavier than that for a Chinese citizen, according to the study. U.S. Ranks Second in the World...
China’s Central Bank: Digital Yuan Transactions Reach $250 Billion
23.7.2023
China’s central bank governor has revealed that transactions using the country’s central bank digital currency (CBDC) reached 1.8 trillion yuan ($250 billion) at the end of June. In addition, the People’s Bank of China (PBOC) official stated that digital yuan in circulation amounted...
BRICS Currency Not on Agenda for Leaders’ Summit — Nations to Focus on De-Dollarization
23.7.2023
The heavily anticipated BRICS currency is not on the agenda to be discussed at the economic bloc’s upcoming leaders’ summit, according to South Africa’s diplomat in charge of BRICS relations. He clarified that the BRICS members will focus on de-dollarization and promoting the use of national...
China's Digital Yuan Hits $250 Billion Transaction Volume, Central Bank Governor Reports
21.7.2023
The People’s Bank of China (PBoC) revealed that $250 billion worth of transactions have taken place using the country’s central bank-backed digital currency (CBDC) digital yuan in 18 months since the start of its pilot.
Speaking at a conference in Singapore, China’s central bank governor Yi Gang...
Digital yuan integration introduced to Chinese business air travel
21.7.2023
The Civil Aviation Administration and China Merchants Bank said passengers will be able to utilize the digital currency to access new services via this platform
JPMorgan Warns Dollar Dominance Faces Risks From Political Instability, US-China Tensions
21.7.2023
JPMorgan has warned of the risks to the U.S. dollar’s dominance from escalating U.S.-China tensions and political instability. The global investment bank’s strategists anticipate “partial de-dollarization,” in which the Chinese yuan gradually assumes a more significant role...
Chinese Telecoms Firms Growing Increasingly Keen on Digital Yuan
21.7.2023
Chinese telecom operators are growing increasingly keen on digital yuan adoption, a report has claimed, as the CBDC finds new adoption strongholds.
Per EY (via Sohu), the central People’s Bank of China (PBoC) is keen to bring the nation’s biggest operators (the likes of China Telecom and China...
‘Historic’ BRICS Summit to Be Held Without Putin in Person
20.7.2023
Russian President Vladimir Putin will not travel to Johannesburg for the BRICS summit in August, according to the office of his South African counterpart. Moscow will send Foreign Minister Sergey Lavrov instead, the Kremlin confirmed, emphasizing that Putin will join the event via video link. Putin...
21 Arrested in China for $54M USDT Money Laundering Investigation
20.7.2023
Authorities in China's Shanxi Province have arrested 21 individuals allegedly involved in a major Tether (USDT) money laundering scheme.
The scheme, estimated to have generated over $54 million, utilized the US dollar-backed stablecoin USDT to launder money, the country’s national broadcasting...
Tesla’s Bitcoin Portfolio Remains Unchanged at $184M for Third Straight Quarter: Q2 2023 Report
20.7.2023
Tesla’s Q2 2023 Update reveals that the American electric car and clean energy company refrained from selling any of its bitcoin (BTC) or cryptocurrency holdings in the previous quarter. For the past three quarters, Tesla has maintained a digital asset portfolio worth approximately $184...