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Trump’s Tariff Threat Prompts China to Consider Yuan Devaluation
12.12.2024
China’s top leaders are considering allowing the yuan to weaken in 2025 to counter potential U.S. trade tariffs under Donald Trump’s presidency. Trump plans to impose a 10% universal import tariff and a 60% tariff on Chinese imports. A weaker yuan could make Chinese exports cheaper...
Three Men in China Jailed for Illegal 30M Yuan Crypto Forex Exchange
10.12.2024
Three young men in China have been sentenced to prison and fined for using crypto to conduct illegal…
Trump Effect: Yuan Continues Free Fall as Tariff Threats Grow
5.12.2024
The tariff threats from President-Elect Trump against countries with issues with the U.S. are negatively affecting these nations’ currencies. The Chinese yuan has experienced a continuous decline, causing it to hit its lowest price in the last 15 months. Trump Tariff Threats Take Chinese Yuan...
China’s Digital Yuan Faces Uphill Battle With Corruption Scandals and Sluggish Adoption
2.12.2024
China’s digital yuan (e-CNY), once a frontrunner in central bank digital currencies (CBDCs), faces challenges including corruption scandals and slow adoption due to entrenched online payment giants like Alipay and Wechat Pay. The downfall of Yao Qian, a leading architect of the e-CNY, over...
Huawei integrates digital yuan into HarmonyOS NEXT for up to 1B users
1.11.2024
No need to download or pull up an app to pay with the Chinese CBDC on Huawei phones now
Huawei integrates digital yuan into HarmonyOS NEXT for up to 1B users
1.11.2024
No need to download or pull up an app to pay with the Chinese CBDC on Huawei phones now
Huawei integrates digital yuan into HarmonyOS NEXT for up to 1B users
1.11.2024
No need to download or pull up an app to pay with the Chinese CBDC on Huawei phones now
BIS Considers Ending Mbridge Project Over BRICS Connections, but Is It Too Late?
30.10.2024
While conversations about ending the CBDC-enabled international settlements project have focused on its links to BRICS, Mbridge has already reached the MVP stage, and members could choose to continue it without support from the BIS. BIS Considers Ending Mbridge Project, BRICS Countries Could Use...
With Net Worth 135 Billion Yuan, Binance’s CZ Is 16th on the Hurun Rich List
29.10.2024
On October 29, Hurun Research Institute released the latest “2024 Hengchang Shaofang Hurun Rich List”, which also features…
China’s Digital Yuan and BRICS’ Blockchain Move Against the Dollar
25.10.2024
The BRICS summit just concluded. China and the BRICS bloc are advancing significant projects to reduce their reliance…
JPMorgan’s Bold Call: Why Carry Trades May Be Facing Their Final Days
22.10.2024
A new JPMorgan report warns that carry trades are losing effectiveness as global interest rates decline, urging investors to be more selective with currency risks. The Japanese yen has lost appeal after unexpected rate hikes, while the Swiss franc carries potential bullish risks. JPMorgan suggests...
Digital Ruble and Sanctions: Expert Analyzes Russia’s Digital Currency Plan to Evade Western Control
19.10.2024
A Fellow at the Carnegie Russia Eurasia Center and former adviser at the Central Bank of Russia has weighed in on the digital ruble, Russia’s central bank digital currency (CBDC), highlighting its potential role in reshaping Russia’s financial landscape amid sanctions. While the digital...
Russia-China Trade Grows Despite Global Challenges, Putin Highlights
2.10.2024
Russian President Vladimir Putin marked the 75th anniversary of the People’s Republic of China by praising the solid partnership between Russia and China. He emphasized the resilience of their economic relationship and increasing trade despite international challenges. Putin also highlighted...
US License Expiration Imperils Russia-China Trade in Chinese Yuan
29.9.2024
A U.S. license allowing transactions with key players in Russia’s financial system expires on Oct. 12. This could make it harder and more expensive for Russian businesses to trade with China in yuan. The yuan is currently the most traded foreign currency in Russia after Western sanctions...
Hong Kong’s Crypto Securities Activities Revenue Was $77M Yuan in Q1 2024
26.9.2024
Hong Kong‘s crypto activity in the securities industry has generated a revenue of $77 Million Yuan in the…
China’s Digital Yuan Nears $1 Trillion in Transactions, PBOC Official Reveals
11.9.2024
China’s digital yuan initiative has advanced considerably, backed by over a decade of research and four years of pilot experimentation, according to Lu Lei, Deputy Governor of the People’s Bank of China (PBOC). Trials for the Chinese central bank digital currency (CBDC) have been...
Russia Plans to Peg China’s Yuan to its New Stablecoin
23.8.2024
According to a Kommersant source, Russia has revealed plans to launch two State-linked crypto exchanges to incorporate digital…
Russian Finance Minister Discloses That Over 90% of Bilateral Trade With China Is Settled Outside the U.S. Dollar System
20.8.2024
Anton Siluanov, the Russian Finance Minister, pointed out that a majority of the bilateral trade with China is being conducted outside the U.S. dollar system. He stressed that over 90% of these transactions have been completed using national currencies (rubles and yuan) due to the risks associated...
BRICS Countries Deem US Dollar Less Important in Global Trade, Says Indian Expert
14.8.2024
The vice chairman of the BRICS Chamber of Commerce and Industry, Sameep Shastri, has highlighted the economic bloc’s shift away from reliance on the U.S. dollar, opting instead to trade using their national currencies like the Russian ruble, Indian rupee, and Chinese yuan. He underscored...
Mainland China to ‘unban’ Bitcoin? Community says ‘unlikely’
15.7.2024
Mainland China has repeatedly banned certain activities related to Bitcoin, but it has somehow still remained a major player in activities like Bitcoin mining