China’s Central Bank Digital Currency is “Digital Form of the Yuan” & “Not for Speculation”

2019-12-23 19:11

China’s new sovereign digital currency would not be open to speculation like other cryptocurrencies, said a Chinese central bank official on Saturday. Mu Changchun, head of the People’s Bank of China’s digital currency research institute said it would be a “digital form of the yuan” that wouldn’t need the backing of a basket of fiat […]

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China Trials Its Central Bank Currency, The Digital Yuan, In Shenzhen’s Gas Stations

China’s Central Bank assists Shenzhen citizens in using its digital currency as payments to refuel their motor vehicles. The community in the tech hub of China (Shenzhen) received $1. 5 million in digital Yuan, airdropped to gear up the project, 11 gas stations are now accepting digital currency as payments, reported Economic Information Daily.

2020-10-18 17:41


China to Scale Digital Yuan Pilot to 28 Cities as it Solidifies Its Tokenomics Dominance

China’s digital yuan ‘DC/EP’ might soon be replacing the fiat renminbi in circulation following an announcement by the country’s ministry of commerce to scale the pilot in more cities. This PBoC backed digital currency has been in progress since 2014 but was only piloted recently, marking a significant milestone towards the adoption of CBDC’s. The […]

2020-8-17 17:06


Ôîòî:

China to Start Testing its Digital Yuan in Beijing and Other Major Cities

China’s digital currency program is set to expand to its capital Beijing and other major cities including Tianjin, Hebei, Guangdong, Yangtze River Delta as well as Hong Kong- Macau Greater Bay Area. According to an official announcement made by China’s commerce ministry, the digital RMB pilot programs will be led by the Chinese Central Bank, […]

2020-8-15 01:23


China’s Central Bank (PBoC) Forced by Fake Website to Deny Launch of Its Digital Crypto (DECP)

The PBoC (People’s Bank of China) was recently forced to release a statement indicating that its much anticipated digital asset was still in its testing stages. This news comes during a time when there are online reports insinuating that dates had already been set for the official launch of the stablecoin. DCEP or the Digital […]

2019-11-15 22:47


Ôîòî:

China’s National Digital Currency is Anything but Decentralized says Ethereum Co-Founder

China’s national digital currency is in the works, which would monitor transactions and curb money laundering. However, according to a recent interview with CNBC on November 5, 2019, Ethereum co-founder, Joseph Lubin, believes that China’s central bank digital currency (CBDC) lacks a key component of blockchain technology, which is decentralization.

2019-11-6 10:00


People’s Bank of China (PBoC) Talks Plans to Fast-Track R&D Related to its Legal Digital Currency

On Friday, August 2, 2019, the People’s Bank of China (PBoC) supposedly held a video conference in which things that needed to be achieved in the second half of the year were elaborated upon. According to The Block, China’s central bank reported its plans to accelerate its goals with regard to a country-wide digital currency […]

2019-8-3 17:24


China’s central bank fast-tracks R&D of its legal digital currency

The People’s Bank of China noted that they are going to track the development trend of virtual currencies of China and foreign in order to strengthen Internet financial risk remediation. After mulling over its centrally owned digital currency, China accelerated its research and development, according to the statement released by the People’s Bank of China […] The post China’s central bank fast-tracks R&D of its legal digital currency appeared first on AMBCrypto.

2019-8-3 11:42


Ôîòî:

Venezuela is buying Bitcoin with airport taxes to smuggle in US dollars, report

Venezuela appears to be leveraging cryptocurrencies as part of a larger effort to bypass US sanctions. According to an investigation by Spanish newspaper ABC, President Nicolas Maduro and his administration are using a digital wallet app called Jetman Pay to convert tax revenue from one of the country’s main airports into Bitcoin and other cryptocurrencies.

2019-7-26 14:02


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Record $2 Trillion Deposited in the US Banks During Covid-19 Pandemic

Cash remains the king! According to FDIC data, a record $2 trillion in cash was added in the deposit accounts of US banks since the coronavirus first struck in the country in January. In April alone, the money flowing into banks grew by $865 billion, more than the record for an entire year. “Any way […]