Search results: e-CNY

Around 35 virtual asset exchanges will vanish as of midnight Friday, as the country imposes new rules designed to protect consumers.

Bitcoin and Ethereum prices fall after Beijing intensifies crackdown on crypto trading, mining.

While a US digital dollar is stuck at pole position, China’s digital yuan is nearing the finish line. Michael B. Greenwald of Tiedemann Advisors explains why it matters to the future global economy.  

China may be a small step closer to internationalizing the yuan, though its central bank says the e-CNY is now mostly tested for domestic use.

The country’s crypto industry has been turned upside down with stricter operating rules that take effect tomorrow.

Top blockchain and crypto news: Evergrande end-game roils crypto markets. SEC takes aim at stablecoins. How close is China’s digital yuan to the finish line?

Upbit can operate as a virtual monopoly as it becomes the country’s first licensed business to handle cryptocurrencies.

A focus of China’s free trade and shipping, Shanghai will explore in pilot project cross border trading with offshore renminbi stablecoin.

All but four platforms in South Korea obligated to announce the suspension of their services by today.

At the risk of losing billions, crypto industry officials weigh options to oppose authorities.

Smaller virtual asset exchanges ask for mercy as a deadline looms to commit to Korea’s new standards.

It’s hard to move forward on a CBDC when those in charge can’t agree. Is time running out for an American digital dollar?

Crypto trading platforms rush to meet a Sept. 24 deadline, hoping to comply with new rules designed to protect investors.

What does it mean to own an NFT? Furthermore, what does it mean to own a billionth of an NFT? For Doge lovers, it might be a good investment, or barking mad.

Three of South Korea’s four major exchanges have launched a joint venture to develop solutions for complying with the Financial Action Task Force’s (FATF) crypto travel rule. The travel rule sets a global standard for virtual asset service providers to combat money laundering and terrorist financing and requires exchanges to collect information on senders and […]

Korea’s love for crypto continues while Crypto exchange Bilaxy hacked

New data shows increasing deposits made by teens in virtual currency despite new rules that may close down many platforms in less than a month.

A looming deadline for crypto exchanges in South Korea to either meet new compliance requirements or face closure will not be extended, the country’s newly nominated chief financial regulator says. The rules are designed to improve investor protection and transparency in crypto transactions, but many exchanges have been calling for a longer grace period. Fast […]

Top blockchain and crypto news: Is another Bitcoin bull run coming soon? Punks rocking NFTs. Why crypto contracts may not be enforceable in China.

Sandbank, a South Korean bank for virtual assets, says it is in the process of acquiring the necessary certification needed to legally operate in the country. However, the financial authorities have yet to decide whether their requirements apply to crypto banks. Fast facts In an announcement, Sandbank told its customers it has put acquiring the […]

Shaanxi Province has built the province’s first toll lane that supports digital yuan payments; the first payment was successfully made on August 16. Fast facts Shaanxi Province says it will continue to install digital renminbi payment equipment at all expressway toll stations in the province. Shaanxi Province is located in the western inland region of China, and […]

China’s high penetration of smartphones, digital-savvy population helps reduce e-CNY testing time, observers say

India crypto bill awaits approval while Poly Network hack saga continues

The number of digital yuan patents is growing, with patent applications related to digital currency numbering 271 since the beginning of last year, data compiled by Mpaypass.com show, as tests of e-CNY continue under the Chinese government’s watchful eye. Fast facts The data shows that the total number of patent applications since 2020 has surpassed […]

U.S. software behemoth Microsoft is looking to develop anti-piracy measures on Ethereum using research from Chinese internet giant Alibaba and Carnegie Mellon University, according to a paper released by Microsoft’s research department. Fast facts Partnering with Alibaba and Carnegie Mellon, Microsoft says the new system — dubbed “Argus” — will run on a public blockchain […]

Alipay, one of China’s major payment apps, has again rolled out non-fungible token artworks designed as wallpapers for users’ payment code pages, with a total of 80,000 copies of two editions combined having sold out within a day. Fast facts Alipay yesterday started selling two editions of artworks — built on its own Ant Chain […]

E-commerce company’s tie-up with government-owned lender suggests hybrid private-state future for central bank digital currency.

The Business Administration Department at China’s central bank has said it will push forward pilots of the e-CNY digital currency in the Winter Olympics area to cover all payment scenarios. Fast facts To promote the digital yuan for the Winter Games, two batches of e-CNY red packets were distributed in Beijing in February and June, totaling 50,000,000 yuan […]

Top blockchain and crypto news: Is Ethereum’s price flatlining on eve of revolution? Uncle Sam wants pay to play. China’s Big Tech toes the line with NFTs.

People’s Bank of China vows to keep sector under ‘heavy pressure’ as it pushes digital yuan.

The International Monetary Fund says it has a mandate to help countries around the world adopt and adapt to digital currencies, but only if the digital money is in the public interest — which Bitcoin is not, according to an IMF report published yesterday. Fast facts While the IMF recognizes the potential benefits of digital […]

A digital yuan wallet app launched by China’s central bank will include an electricity bill payment feature designed by the country’s State Grid, according to Economic Information Daily, a local financial media outlet.  Fast facts Users will be able to pay their electricity bills through the digital yuan app directly and do not need to […]

China’s trial of e-CNY, the digital version of the national currency, the yuan, has extended to the insurance industry, with conglomerate Ping An encouraging medical staff in the southern city of Shenzhen to pay premiums for a Covid-19 insurance plan using the new currency. Fast facts One Ping An branch in Shenzhen is offering insurance […]

FTX closes record fundraise. Additionally, China Mobile gets hot wallet patent.

Top blockchain and crypto news: FTX swells to $18 billion valuation. Etherum and Dogecoin disowned by creators. US pols call for Olympics boycott of e-yuan.

Privacy concerns prompt call for Americans to avoid e-CNY as lawmakers point to use of WeChat app to ‘surveil, threaten and arrest Chinese citizens.’

U.S. Treasury Secretary Janet Yellen says that the United States needs “to act quickly to ensure there is an appropriate U.S. regulatory framework in place” for stablecoins. Fast facts Yellen made her comments at a Meeting of the President’s Working Group on Financial Markets, held on July 19. According to a readout of the meeting, […]

Central bank in apparent push for adoption ahead of Olympics as it doubles up on warning over non-state cryptocurrencies.

In a new report, BIS says countries must work together and design CBDCs with interoperability in mind. Hong Kong and Singapore lead mCBDC efforts.

The Bank of Jamaica’s much-anticipated central bank digital currency will launch next month, according to a report by the Jamaica Observer. Fast facts Previously due to launch in May, the CBDC will initially be implemented through the National Commercial Bank — the biggest financial institution in the country — before being expanded to other banks […]

Eddie Yue, CEO of Hong Kong Monetary Authority lays out the future of the territory’s digital currency at a Hong Kong Academy of Finance event.

Crypto exchanges WazirX and Binance look to implement stronger compliance measures. Forkast News speaks with FTX founder and CEO Sam Bankman-Fried about crypto regulatory measures in Asia. Chinese district rewards residents with e-Yuan for counting footsteps. We’ll have more on these stories and other news shaping the cryptocurrency and blockchain world in this episode of […]

Top blockchain and cryptocurrency news: Binance bounced out of Britain. Musk moves Shiba Inu prices again. China’s digital currency gets ready to roll.

Adoption of e-CNY for urban transport networks marks first step in wider introduction of state-backed digital money.

In the last installment of a 3-part series on blockchain in Asia, Forkast.News examines: Everyone knows money has value. But does it also have ‘values’?

Agricultural Bank of China has set up a fintech innovation center in Xiong’an, a model for a so-called smart city.

How China’s deployment of the digital yuan intertwines economics with geopolitics and concrete with virtual infrastructure, from Cambodia to the Caribbean.

Kazakhstan is quickly becoming a mining hotspot as China’s mining exodus settles down. In Hong Kong, and update on the e-HKD.

Long before most governments, the Asian superpower saw the potential in Bitcoin’s technology to spawn the next internet and a new form of money.

Urged on by the authorities, banks have wasted little time in putting e-CNY infrastructure in place, but now comes the hard part — getting people to use it.

Ant Chain, Ant Group’s technology brand, has launched a new blockchain communication technology at Ant Chain’s first developer conference.

In a new report, Bank for International Settlements extols central bank digital currency (CBDC) as the future of money. Will CBDCs replace Bitcoin someday?

Two of China’s largest state-owned banks, the Industrial and Commercial Bank of China (ICBC) and the Agricultural Bank of China (ABC), are now offering two-way exchange between fiat cash yuan and e-CNY digital currency through more than 3,000 ATMs in Beijing, according to reports in local media.  Over 3,000 ATMs in Beijing managed by ICBC […]

Money may be easy to part with when it’s free, but as Shanghai’s first experimental e-CNY giveaway shows, it’s not so easy finding shops to take it.

Chinese stock trading app Futu Niuniu has suspended Chicago Mercantile Exchange cryptocurrency futures services and stopped supplying crypto market information.

Top blockchain and crypto news: El Salvador bets on Bitcoin as national currency. ETH gains ground on BTC. Beijing dishes out digital yuan in latest trials.

Shijingshan, a site for the upcoming Winter Olympics, has started supporting payments made using the state digital money, known as e-CNY.

Hong Kong will be initiating a study on a digital Hong Kong dollar as part of its plans to “future proof” the city for central bank digital currencies.

China has released guidelines aimed at boosting the country’s blockchain development.

It is important to distinguish between developing a digital currency for currency digitalization and digitalization of assets or cryptocurrencies so that China can be more focused on preventing risks in the financial sector, said Fan Gang, a Peking University professor and a prominent advocate in China for economic reform. Fast Facts: In a keynote speech […]

SpaceChain shoots blockchain to tech to the International Space Station aboard Falcon 9 as Cardano announces first cross-chain bridge with Nervos.

Other top blockchain and crypto news: Thailand’s SEC tries to rein in DeFi via regulation. Will China’s future DCEP digital yuan offer smart contracts?

The U.S. dollar reigns supreme as the current world reserve currency. Could the USD’s status change with the rise of CBDCs like China’s DCEP digital yuan?

Chinese authorities’ latest regulatory offensive against the crypto industry may not be as bad for the sector as it appears.

Former CFTC chairman Chris Giancarlo and Accenture’s David Treat are not in a CBDC race, but a ‘contest’ to develop money that reflects societal values.

Global US dollar reserves touched a 25-year low in Q4 2020, according to a new IMF report. Will a digital euro and e-RMB muscle in?

Other top blockchain and cryptocurrency news: How Dogecoin copycat SHIB coin vaulted into crypto’s top 20. China unveils fingerprint ID for digital yuan.

Chutian Dragon and IDEX Biometrics offer DCEP digital currency wallets with fingerprint recognition. The companies say the feature enhances security.

China’s DCEP digital currency, not yet officially launched, take another leap forward with unveiling of prototype ATMs that convert foreign money to e-CNY.

Other top blockchain and crypto news: China’s internet giants JD.com and Ant Group reveal extent of digital yuan support. Turkey rethinks crypto ban.

China intensifies its nationwide digital currency testing via JD.com paying employee salaries in digital yuan and Ant Group’s MYbank offering e-yuan services.

China’s internet giant Ant Group shares its OceanBase database for the e-CNY project. More investors try out DeFi platform PancakeSwap.