Shanghai, Beijing and other major cities plan large-scale digital yuan tests
The accelerated testing phase comes after a successful year for the state-backed digital currency in which it was used in most major cities.
Latest China News
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Shenzhen-based and Nasdaq-listed firm 500.com has entered a definitive purchase agreement with an undisclosed party to buy ASIC mining machines.
China unveils first digital yuan physical card in Shanghai
Unlike in Shenzhen, Beijing and Suzhou, the People’s Bank of China is expanding beyond the use of smartphones to make digital yuan payments.
Google Cloud hiring blockchain business development manager for China
Google Cloud is looking to hire a blockchain business development manager to head up a new team based in China, in a move that underlines the company’s commitment to growth in the country.
China extends digital yuan test to Beijing as Shenzhen holds second lottery
China’s digital currency electronic payment has been in testing phase in locations including Shenzhen, Suzhou, Xiong’an New Area, and Chengdu.
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Bitmain co-founders Jihan Wu and Micree Zhan reportedly reached a settlement that ends their messy long-running feud around who will control the blockchain giant.
Institutional investment broker OSL receives digital asset trading license from HK regulator
OSL does not provide services to retail investors, with its clientele restricted to institutions, high net worth individuals (over US$1 million and above) and family offices.
Bitmain lost money in 2019, lawyers tell court in China
Lawyers representing Bitmain Technologies disclosed at a recent court hearing that the ASIC mining hardware manufacturer recorded a loss of nearly $60 million in 2019.
Digital yuan not a replacement for the US dollar: ex-PBoC governor
China had learned a lesson from the hostile reception Libra, now Diem, has received globally, according to the former governor of the People’s Bank of China.
China and Hong Kong working on digital yuan cross-border payments
Hong Kong’s central bank has been working with China’s digital currency institute to trial the use of the digital yuan on cross-border payments.
China: ‘Embrace blockchain, ignore crypto’
Authorities in China are pressing individuals and businesses to embrace the potential of blockchain technology while ignoring the role of digital currency.
Russia central bank snubs private ruble-pegged stablecoins
The Chinese model for its digital yuan is a better template for Russia in exploring a central bank digital currency, central bank officials said.