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China Adds More Cities to its Digital Yuan Pilot


More Chinese cities will be added to the nation’s digital yuan pilot – with a rollout edging closer to reality. Per the newspaper the Workers’ Daily, the city of Jinan, Shandong Province, will be added to the pilot area. Also joining the pilot will be Nanning and Fangchenggang in the Guangxi...

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,...

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