Shenzhen Continues CBDC Trials, Distributes Another $3 Million in Digital Yuan

The Chinese city of Shenzhen is preparing for its third test for China’s central bank digital currency (CBDC) project known as digital currency electronic payment (DC/EP), as it plans to distribute $3 million in digital yuan in a red packet event.

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Chinese city to issue $3 million in digital Yuan in pilot giveaway

For the third time, China's southeastern city of Shenzhen will issue the nation’s digital currency as part of an ongoing pilot program to test China’s central bank project among its citizens.  The post Chinese city to issue $3 million in digital Yuan in pilot giveaway appeared first on AMBCrypto.

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Robbers steal $500,000 in cash from crypto trader in Hong Kong

Four unidentified men stole more than 3.5 million yuan ($500,000) from a cryptocurrency trader in Kwun Tong, Hong Kong on 18 January. According to local news site Apple Daily, the robbers, who are The post Robbers steal $500,000 in cash from crypto trader in Hong Kong appeared first on AMBCrypto.

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Shenzhen Airdrops $3 Million Worth of Digital Yuan in Third CBDC Test

Popular Chinese city Shenzhen’s government had announced on New Year’s Eve that their plan to distribute $3 million worth of digital yuan to local residents, in China’s third Central Bank Digital Currency (CBDC) tests.

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China moves closer to nationwide digital currency launch

The Shenzhen government has given away $3 million worth-of Digital Yuan as it conducts… The post China moves closer to nationwide digital currency launch appeared first on Coin Journal.

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Digital Yuan Still in Trial: China Airdrops Another $3 Million Worth of Its DCEP to 10,000 Suzhuo Residents

China’s digital Yuan has been facing a series of trials since its launch. The country has been making several attempts to gain a foothold for its digital currency. Still, in the test phase, China has just airdropped another $3 Million worth of its DCEP to some Suzhuo residents, according to a new report. This appears […]

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Chinese residents make 20K transactions in digital yuan trial event

The numbers come following the Suzhou municipal government giving away roughly $3 million in a digital yuan lottery for residents.

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China: Suzhou's DCEP trial sees digital yuan on JD.com, Meituan, and Didi

Today, the 11th of December, marked the first day of China’s latest DCEP trial in Suzhou after results of the lottery were announced earlier in the day. The day saw 200 million RMB ($30. 6 million) oThe post China: Suzhou's DCEP trial sees digital yuan on JD.

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Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) price analysis as China distributes $3mln of digital yuan

Cryptocurrency market cap moved about 2% lower today as some investors decided to take profit after the latest push higher. In the meantime, China distributed $3 million of digital yuan. Fundamental analysis: JD.

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Digital Yuan gains major support after initial airdrop

China has airdropped $3 million worth of its Digital Yuan, and the central bank…

The post Digital Yuan gains major support after initial airdrop appeared first on Coin Journal.

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China Airdrops Digital Yuan Worth $3 Million — 10,000 Stores Will Accept It

Twenty million yuan ($3 million) in China’s central bank digital currency will be given away to 100,000 people in the country’s largest test of the digital yuan to date. The digital currency will be accepted at 100,000 stores, including JD.

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Suzhou Government to Airdrop $3 Million in Digital Yuan for CBDC Trial

The Suzhou government is set to carry out a test on China’s central bank digital currency (CBDC) by conducting a digital yuan airdrop via a lottery program, which will see the distribution of $3 million worth of digital yuan to some lucky winners.

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China’s Central Bank Has Transacted $300 Million In Digital Yuan So Far

The People’s Bank of China (PBoC) has processed over 4 million separate transactions —  worth more than 2 billion yuan ($299. 07 million) as part of the pilot tests for its central bank digital currency (CBDC).

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China’s Digital Yuan Reaches $300 Million Spent

The People’s Bank of China’s CBDC pilot program has seen $300 million worth of Digital yuan spent, as of Nov 2, 2020. This occurred over four million separate transactions. China’s Digital Future While the race for a large economy to launch a digital currency continues unabated, China is making some headway.

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China’s digital yuan used in 4 million transactions so far

Governor of central bank of China, Yi Gang, today revealed that in its CBDC pilot program, the digital yuan has been used in over four million transactions totaling to more than 2 billion yuan (about The post China’s digital yuan used in 4 million transactions so far appeared first on AMBCrypto.

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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.

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China Trials Central Bank Digital Currency with $1.5 Million in Handouts

China continues to push on with its central bank-issued digital currency trials. The latest initiative saw 50,000 citizens receive the digital yuan to use at real-world retailers. The government of the tech hub region of Shenzhen sent out a total of almost 10 million yuan (~$1.

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Nearly 2 Million Sign Up for China’s Digital Yuan ‘Lottery’

Around 50,000 digital "red envelopes," reminiscent of the traditional gifts doled out in China for special occasions and each containing 200 digital yuan ($29.60), were handed out Monday.

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Digital Yuan Giveaway: China’s Shenzhen City Hands Out 10 Million Yuan in Central Bank Digital Currency

A major Chinese city is giving away 10 million yuan in the country’s central bank digital currency this weekend. Recipients can use their digital yuan at 3,389 stores next week. The city aims for the giveaway to boost usage of the new government-backed digital currency.

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Shenzhen has a new plan for promoting digital yuan

As China continues down the path to issuing its own CBDC across the country, some of its regions are already prepared to help contribute in any way they can. Shenzhen, for example, recently revealed a new program that will see it issue 10 million yuan ($1.

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China to distribute $1.5 million worth of CBDC to Shenzhen residents

In collaboration with the Peoples Bank of China (PBOC), Shenzhen plans to distribute $1. 5 million worth of its Central Bank Digital Currency (CBDC) - the digital yuan. Adopting a promotion strategyThe post China to distribute $1.

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Shenzhen to hand out 10 million digital yuan in currency giveaway

China is promoting its central bank digital currency with a public $1.5 million giveaway.

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China’s Digital Currency Has Been Used in 3 Million Transactions Worth Over a Billion Yuan So Far

China’s central bank digital currency has been used in 3. 13 million transactions worth about 1. 1 billion yuan ($162 million) so far, the People’s Bank of China’s deputy governor has reportedly revealed.

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China CBDC Trials: Over $160M in Total Payments From 3M Transactions

China’s ongoing central bank digital currency (CBDC) trials have crossed the 1 billion yuan (~$160 million) milestone. With China pulling ahead in the CBDC race, other nations are reportedly considering floating their own sovereign digital currencies.

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PBoC Secures $4.7M Funding for its Blockchain Trade Finance Platform From Chinese Govt

The People’s Bank of China (PBoC) has secured a funding of 32. 5 million yuan ($4. 7 million) for its blockchain trade finance platform for key research and development projects. The country’s central bank has been spearheading this platform that was launched in Sept.

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China’s Crypto Affinity Drops As LocalBitcoin Volume Drops To 2-Year Lows

China’s BTC trading volumes have hit an all-time low in two years with the peer to peer (p2p) exchanges on LocalBitcoin. As of the week of Jan. 25th the trading volumes stagnated at a mere 4. 5 million Yuan ($640000).

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Binance Donates $1.44M to Help Fight China’s Deadly Coronavirus 

Binance cryptocurrency exchange has donated 10 million yuan ($1. 44 million) to China through its charity arm, the Binance Charity Foundation (BCF), to aid the fight against the deadly Coronavirus that has claimed many lives in the nation, reports AsiaTimes on January 27, 2020.

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China BTC Volume on LocalBitcoins Hits 2-Year Low, Baidu Searches Dwindle

LocalBitcoins is showing its lowest volume in China in two years. Volume for the popular marketplace hovered at around 4.5 million yuan for the week of Jan 25. This has coincided with a drop in Bitcoin’s search volume on the Chinese search engine, Baidu, which has also hit a new low over the past 30 […] The post China BTC Volume on LocalBitcoins Hits 2-Year Low, Baidu Searches Dwindle appeared first on BeInCrypto.

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Tether Adds Half a Billion in Three Months, USDC Prints $25 Million

Tether’s supply has increased by another circa half a billion since September, reaching now nearly $4. 7 billion across three blockchains and 40 million tokenized euros plus $216,000 worth of Yuan.

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Guangzhou, China Introduces 1 Billion Yuan Fund to Accelerate Blockchain Development

Guangzhou state government launches a 1 billion yuan fund, approx. $140 million USD, to boost blockchain innovations in the state. Guangzhou Huangpu District and Guangzhou Development Zone, who make up strategic technological decisions came up with the “Detailed Rules for Implementing Several Measures for Accelerating Blockchain Industry Leading Change”. Guangzhou’s $140 million fund to accelerate […]

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This Illegal $14 Million Crypto Racket Hijacked Chinese Internet Cafes

Fifteen Chinese individuals have reportedly been arrested for their involvement in an illegal cryptocurrency mining operation that hijacked the bandwidth of scores of internet cafes to mine approximately 100 million yuan (nearly $14 million) in cryptocurrency.

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Binance Reveals Hack Information as Security Becomes a Public Concern

This article was originally published by 8btc and written by Vincent He. Since May 1, 2019, bitcoin’s price has been rising, reaching a top of over $6,000. As the whole cryptocurrency industry was enjoying the rise, an unexpected hack put a stop to the rise of bitcoin.

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Tesla Embarrassed by Major Chinese Buyer in Giant New York Billboards for Million-Dollar ‘Electromechanical Failures’

By CCN. com: Times Square visitors were treated to an embarrassing shellacking of Elon Musk and his Tesla clown car on Monday. Three advertisements appeared in the popular area of New York City demanding that Tesla provide Shenma, a high-end Chinese ride-hailing firm, with compensation.

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Tesla Rival BYD is Absolutely Killing It – But There’s an Enormous Catch

By CCN: On the heels of a rather disappointing Tesla earnings call, Chinese electric car maker BYD Auto reported a stunning 632 percent increase in Q1 net profit. The company, backed by Warren Buffet, saw profits jump from 102.

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Bitcoin Below $1 Million by 2020 is Impossible, It’s Pure Mathematics, Says John McAfee

Coinspeaker Bitcoin Below $1 Million by 2020 is Impossible, It’s Pure Mathematics, Says John McAfeeAccording to John McAfee, Bitcoin will be used for payments and receipts instead of the US dollar, Euro, and Chinese Yuan, and will hit $1M by the year of 2020.

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China’s Resurgent Stock Market is Seeing Profits Flow Into Bitcoin

China is returning to Bitcoin investment despite its ongoing trading ban, data suggests this week as the Bitcoin price holds higher. Yuan No. 2 Entry Fiat Currency Statistics gathered by monitoring resource Coinlib showing capital inflow into bitcoin and other cryptocurrencies puts the Chinese yuan (CNY) in the top entry currencies.

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This Chinese Crypto Mining Guru Predicts the Bitcoin Price Will Surge 20,000%

A Chinese crypto mining pool founder predicted that the next bull run would unleash the market’s full potential, enabling the Bitcoin price to ascend to unfathomable heights before the euphoria cools down.

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Respected Chinese Crypto Miner of Poolin Believes Bitcoin Could Scale up to $738,000 Price in the Future

According to the Zhu Fa, the co-founder of Poolin (a Chinese crypto mining firm), the price of Bitcoin (BTC) could scale up to a staggering 5 million Yuan (USD $738,000 approx) in the coming few years.

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Crypto Raid In China Of Bitcoin Scam I Am A Clown (IAC) Worth 1.3 Billion Yuan ($193 Million)

Chinese Police arrested a group of cryptocurrency scammers following a raid in Xuchang City. The bust, which took place five months ago, was only publicized this week after a story on CCTV News. During the break-in, police seized cash valued at $1.

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$3 Million in Stolen Electricity Leads to $14.5 Million in Crypto Mining Earnings

A Taiwanese Bitcoin miner identified with the last name Yang was recently arrested and charged by authorities for mining 100 million yuan ($14. 5 million) in cryptocurrencies. He used NT$100 million ($3.

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Crypto mining farms in China were suspended for strict tax inspections

Cryptocurrency mining operations in the Chinese provinces of Xinjiang and Guizhou were suspended so the government could conduct “very strict” tax inspections and real-name registration checks, CCN reported.

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China's Central Bank Wants to Put the Damper Airdrops: Report

The People's Bank of China (PBoC), China's central bank, has its eyes on cryptocurrency companies that run airdrop campaigns in the country. In its most recent financial stability report for 2018, which was published on Friday, November 3, 2018, the bank said there has been a surge in the number of "disguised" Initial Coin Offerings (ICO), including the free distribution of crypto tokens through airdrops, despite its effort to clamp down on their activities.

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China's Central Bank Wants to Put the Damper on Airdrops: Report

The People's Bank of China (PBoC), China's central bank, has its eyes on cryptocurrency companies that run airdrop campaigns in the country. In its most recent financial stability report for 2018, which was published on Friday, November 3, 2018, the bank said there has been a surge in the number of "disguised" Initial Coin Offerings (ICO), including the free distribution of crypto tokens through airdrops, despite its effort to clamp down on their activities.

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New Chinese Crypto Billionaires See Inclusion on Hurun’s Elite Rich List

Hurun China Rich List Released, And It Now Includes Multiple Crypto Entrepreneurs A local list is released in China each year that outlines the richest people in the country, requiring that they have a minimum net worth of over 2 billion yuan (about $209 million).

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Three Suspects in China’s Biggest $87 Million Cryptocurrency Heist Arrested By Police

Chinese police have recently arrested three men for hacking and stealing 600 million yuan ($87 million) in cryptocurrencies. According to the South China Morning Post, the Xian Police officers stated on Saturday, August 18, 2018, that when it came to cryptocurrency criminal investigations in China, this was the largest number of stolen cryptocurrencies in the nation.

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Three Chinese Men In Custody Over $87M Cryptocurrency Theft

Police in China has detained three men suspected of pulling the country’s biggest ever cryptocurrency heist — worth 600 million yuan ($87 million).   Theft is China’s Biggest: Reports As multiple outlets report quoting local news publication Huashang News on August 19, authorities concluded an investigation spanning almost six months into three men who allegedly hacked a computer for Bitcoin and Ether.

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Police Arrest Hackers Suspected of Stealing $87 Million in Crypto

Chinese police have arrested three individuals who allegedly stole bitcoin and other cryptocurrencies worth around 600 million yuan, or $87 million.

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Agricultural Bank of China Uses Blockchain For $300,000 Farm Loan Mortgage Issuance

Agricultural Bank of China Proposes Blockchain Technology for Farming Mortgage Loans According to Chinese news platform, financialnews. com. cn, the country’s largest bank, Agricultural Bank of China (ABC) has invested nearly 2 million yuan into potentially using blockchain technology to better collect and store information.

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JD.com Acquires 30% Stake Of Allianz China Blockchain Insurance Service

JD. com Acquires 30% Stake of Allianz China Recently, the China Banking and Insurance Regulatory Commission approved JD. com’s application to invest 483 million Yuan (approximately $71 million) to the Chinese unit of the Allianz Corporation.

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