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 People's Bank of China 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.
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.
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.
What has happened in China since the latest ‘Bitcoin bans’?
The latest "Chinese Bitcoin ban" consisted of a statement from the central bank, followed by supportive edicts from several other departments, plus financial and technology industry representatives.
China bans Bitcoin—even more this time
China's digital asset industry, which was once one of the world's largest, has been largely sidelined over the years as restrictions became more severe. Much of the local activity has already moved overseas or stopped completely.
China central bank completes digital currency ‘rectification’
The People’s Bank of China announced that it has completed the rectification of digital currency transactions and transferred it to routine supervision.
Digital currencies not protected by law, Chinese court rules in latest blow
The court in Shandong, China, has ruled that investing in digital currencies is not protected by the constitution in an appeal ruling that saw a man lose $10,000.
People’s Bank of China in Shenzhen ‘clean up’ plan targets illicit digital currency firms
The Shenzhen branch of the central bank published plans stating that it would bring some 11 companies into line with regulation, according to reports.
People’s Bank of China ramps up digital currency crackdown
Authorities from the People's Bank of China recently issued a notice warning local institutions not to provide digital currency-related companies' services.