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Report: Chinese Company Launches Digital Currency Insurance Product


The Suzhou branch of the Chinese insurance company China Pacific Insurance, together with the Bank of Communications, recently announced the launch of a digital currency account insurance product. The launch comes at a time when the number of personal digital currency wallets created in the Chinese...

Alibaba’s Alipay & Taobao Platform to Launch Digital Yuan Pay Functions


An affiliate of the Chinese tech giant Alibaba has claimed that it will allow customers to pay with the digital yuan on its Taobao e-commerce platform, in addition to the market-leading Alipay e-payments platform. Per Sina Technology, the announcement was made by Li Chen, Chief Compliance Officer...

Court in China Recognizes NFTs as Virtual Property Protected by Law


A court in the Chinese city of Hangzhou has determined that non-fungible tokens, or NFTs, represent virtual property protected by the laws in the People’s Republic. The ruling comes from a case over a dispute between a customer and a platform hired to sell a collection of tokens. Hangzhou Internet...

Russia’s Largest Digital Asset Deal Denominated in Chinese Yuan


A Russian company has announced the country’s first authorized transaction with digital financial assets (DFAs) involving a foreign currency, China’s yuan. The deal, reportedly the largest made to date under the current Russian DFA law, covers the issuance of tokens secured by commercial debt....

Bitcoin Price and Ethereum Down 5% amid China Lockdown - Time to Buy?


The leading cryptocurrency, Bitcoin, failed to break a descending triangle pattern and fell over 3% to $16,160 amid an increased level of FUD in the market.  Likewise, the second-most valuable cryptocurrency, Ethereum, has followed Bitcoin's lead and fallen sharply by nearly 5% to $1,171.... Read...

Bank of Japan to Launch Digital Yen Pilot Program Next Year


The Bank of Japan is preparing to run a test trial of its own central bank digital currency (CBDC), the digital yen, with help from three top banks and regional institutions. The pilot program, estimated to last two years, will focus on testing the currency via several transactions,...

Hong Kong Preparing to Join Digital Yuan Pilot, Extend ‘Cross-border’ Reach


Mainland China and Hong Kong are set to co-launch the digital yuan’s first cross-border pilot project – as the People’s Bank of China (PBoC)-led project edges ever-closer to roll out. According to Shanghai Securities News, Howard Lee, the Deputy Chief Executive of the Hong Kong Monetary Authority...

Report: China Suspected of Stockpiling Gold to ‘Cut Greenback Dependence’


During the first week of November, the World Gold Council’s (WGC) report that covered last quarter’s global gold demand noted that central banks worldwide purchased close to 400 tons of gold in Q3 2022. The study highlighted that it was the “most on record,” and the WGC researchers also...

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