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.
Latest People's Bank of China News
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.
BTC hashrate and price drop as Chinese mining operations shut down
The BTC token price—and more importantly, the network's hash rate—has continued to plummet following a series of Chinese government actions.
China central bank orders banks to cut off all digital currency OTC merchants
China’s central bank has issued a statement ordering commercial banks to cut off all digital currency-related activities, including over-the-counter digital currency trading merchants.
China self-regulatory associations ban banks from digital currency transactions
The three groups believe that digital currencies are disrupting China’s economic order and urged traders to be cautious when investing in digital currencies, which “are not real currencies.”
China’s retail giant JD.com pays employees with digital yuan
JD.com confirmed recently that aside from the employees, it has also been paying off some of its business partners with the digital currency.