China trials tax and charge payments with digital yuan
The country is now testing the digital yuan—e-CNY—for use in payments of tax, stamp duty, and social security premiums with Zhejiang, a province in Eastern China, pioneering the effort.
Latest digital yuan News
China doubles digital yuan pilots as it targets upcoming Asian Games
China’s central bank plans to expand the pilot to Xiamen, Fuzhou, Tianjin, and cities in Zhejiang province, which will be hosting the Asian Games in September.
China central banker urges for regulatory changes to accommodate digital yuan
An official from Nanjing city wants the law amended to clarify the digital yuan’s position in the payment system, including how banks should handle it.
Will China’s digital yuan unseat the US dollar?
The U.S. dollar makes up 51% of central bank reserves, while the CNY only takes up 2%. Also, the U.S. dollar is involved in 88% of global FX transactions, a figure that remained stable for 20 years.
China’s digital yuan wallet launches on app stores for 11 select cities
The wallet is available for users in Shenzhen, Shanghai, Chengdu, Qingdao, Suzhou and six other cities, as well as those in Beijing for the Winter Olympics.
China links digital yuan to Hong Kong’s Faster Payments System in second CBDC trial phase
China has embarked on the second phase of its cross-border central bank digital currency research with Hong Kong, and it expects to link the CBDC to the city’s e-banking system.
China releases new digital yuan coupons ahead of 2022 Olympics
Four state-owned banks issued a new batch of digital yuan coupons in Beijing, which officials said can be used for deliveries, supermarkets, laundries, bookstores, and even public transportation.
Chinese police crack down on digital yuan fraud ring
Local authorities received a report from a woman who claimed she had been defrauded through a well-orchestrated digital yuan scam.
PBoC: 10% of Chinese citizens have used digital yuan with $10B in transactions
The Chinese central bank revealed the figures at a recent event, adding that there are now 10 million corporate accounts and dismissing privacy concerns.
China urges US companies to accept digital yuan
The digital yuan pilot started in Shanghai with 270 McDonald's branches accepting central bank digital currency as payment, although reports indicated that companies including Visa and Nike are also being urged to accept the digital currency.
JD.com partners with local bank for digital yuan giveaway
JD.com has teamed up with the Bank of Communications to give away $2.5 million in a lottery for the second time as the launch of digital yuan nears.
The CoinGeek Pulse Episode 57: China tech sector crackdown continues, Ethereum congestion forces King Tiger Casino shutdown, 2GB block mined on BSV
As part of its goal to become the world’s “tech superpower,” China’s central government is intensifying the crackdown on technology sectors.