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China Looks to Add Digital Yuan Functionality to Social Security Cards


China may add digital yuan functionality to government-issued social security cards, in a possible new breakthrough for the central bank digital currency (CBDC). Per the 21st Century Business Herald (via NBD), the Ministry of Human Resources and Social Security wants to “explore and promote” ways...

Shanghai Clearing House Introduces Support for Digital Yuan Settlements


The Shanghai Clearing House, Asia’s first counterparty clearing institution, announced support for payments made with the digital yuan Monday. According to reports, the move will allow companies to settle transactions for commodities in bulk, promoting the digital yuan, the Chinese central...

Brazil to Push De-Dollarization Agenda at BRICS Meeting


Brazilian President Luiz Inácio Lula da Silva has revealed his intention to raise the issue of de-dollarization at the next BRICS meeting. “Why Brazil and Argentina would trade in dollars. Why don’t we do it in our own currencies? Why can’t Brazil and China trade in their currencies?...

China Warns Citizens of Consequences for ‘Facilitating’ Crypto Trades


A Chinese ministry has warned citizens of the severe consequences of “facilitating” crypto transactions on behalf of other people. The nation has exacted two sweeping crackdowns on crypto, one in 2017, and the other in 2021. The first crackdown mainly targeted crypto exchanges, forcing most...

IMF Working on Platform to Support CBDC Cross-Border Interoperability


The International Monetary Fund (IMF) is working to develop a platform that would serve as an interoperability layer for central bank digital currencies (CBDCs), allowing for settlements among different countries. According to statements from IMF Managing Director Kristalina Georgieva, this would...

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