In China, cities start piloting e-CNY payment in public transport systems
China's CBDC adoption is moving ahead as planned, with several cities testing a new electronic payment method that lets users pay for their transport fares using digital yuan.
China's CBDC adoption is moving ahead as planned, with several cities testing a new electronic payment method that lets users pay for their transport fares using digital yuan.
The product is coming first to the city of Chengdu and will be developed by the Digital Research Institute, the Chengdu Longquanyi District Education Bureau and Tianfutong Financial Services.
Hotbit says that police are investigating an ex-employee for criminal conduct and that its funds have been frozen for this, impacting its day-to-day operations.
U.S. Department of the Treasury's Office of Foreign Assets Control said that cybercriminals regularly used Tornado Cash to launder money amounting to more than US$7 billion since 2019.
The Rural Commerce Bank of Zhangjiagang, located in China's Suzhou province, has issued the first-ever digital yuan loan backed by intellectual property as collateral.
Lan Zhou noted that the CBDC had an impressive level of adoption across the test sites—citing that as of May, Chinese consumers had done a cumulative 264 million transactions amounting.
Shanghai's blockchain adoption plans include creating an innovation system with blockchain and promoting the development of its ecosystem with strong innovation capabilities and independent control.
Meta is shutting down its Novi wallet. The social media company is asking its users to withdraw their funds—either by transferring them to their bank accounts or withdrawing them as cash.
The "self-regulatory initiative" is led by the Chinese Cultural Industry Association, which was joined by China's largest tech firms, including Tencent, Ant Group, Baidu, and JD.com.
A Chinese court has ruled that local companies can’t pay their workers’ wages with USDT (aka Tether) because the government—like everyone else—doesn’t recognize the stablecoin as legitimate.
Shanghai Fengxian People's Court said in its ruling that using the digital token instead of fiat money made the sales contract null and void.
The unit will be headed by Tencent Games Global's Chief Technology Officer Li Shen and will be part of the conglomerate's Interactive Entertainment business group.