A hydropower plant in China has been fined for illegally powering crypto mines. Meanwhile, South Korean auditors plan on auditing Terra and other crypto exchanges.
China’s central bank is driving the adoption of the digital currency, but a spate of lockdowns is slowing the economy and raising questions about the rollout.
A 2021 poll of 81 central banks by the BIS reveals that work on retail CBDCs has moved into more advanced stages, driven by a need to increase financial stability amid the pandemic, and the emergence of stablecoins.
Blockchain data analysis platform Chainalysis has launched a set of free sanction screening tools. Meanwhile, lawmakers in the US take aim at China’s digital yuan, or e-CNY, while Russian sanctions begin to highlight issues with financial sovereignty as hundreds of thousands of Russian and Ukrainian civilians are caught in the financial crossfire.
Look for progress reports on e-CNY, blockchain technology, new digital infrastructure, and subtle mentions of the international sanctions against Russia.
CBDCs can increase financial inclusion and prevent crime, according to blockchain expert Tiana Laurence. What’s not to like about state-backed digital money?
China prepares to show off its tech innovation muscles at the Beijing Winter Olympics as it unveils some unusual-looking wallets for its new digital yuan.
Top blockchain and crypto news: Are India’s CBDC plans crowding out crypto? Jack Dorsey goes full Bitcoin bro. China’s digital yuan hopes claim another victim.