digital yuan

China, CBDC, Bitcoin, BTC, Digital Yuan

Bitcoin is referred to as a “Investment Alternative” by the Chinese Central Bank

With encouraging remarks from Li Bo, the new deputy governor of the People’s Bank of China, China may be softening its stance on cryptoassets, almost four years after enacting a crackdown on bitcoin (BTC), altcoins, and crypto exchanges (PBoC). Several media outlets, including CNBC and the South China Morning Post, quoted Li Bo as saying […]

digital yuan

Chinese Residents make 20K Digital Yuan Trial Event Transactions

In a trial of the country’s digital yuan, people in China conducted around 20,000 transactions through the e-commerce company JD.com. JD.com reported that 80 percent of participants born in the 1980s and 1990s used the platform to conduct transactions in the digital currency starting on Friday night, with at least one transaction greater than $1,527, […]

digital yuan vs usd

China’s Digital Yuan to Target the US Dollar DominanceĀ 

The Central People’s Bank of China (PBoC) has confirmed that it is prepared to take center stage in a “new battlefield” of digital fiat-based competition. Between sovereign countries and claims that its own new token could help break “dollar dominance.” In its digital yuan project, which is already in advanced testing phases. The PBoC has […]

Digital Yuan

China Extends Digital Yuan Trials to Beijing and Neighboring Provinces

China’s Ministry of Commerce today announced it would extend the trials of the nation’s digital currency central bank (CBDC) to include Beijing, as well as provinces Tianjin and Hebei. According to a Wall Street Journal article dated AugĀ 14, there is not yet a fixed time when the Chinese CBDC’s expanded pilot program will begin. Still, […]

Digital Yuan Will Have Trouble Displacing Tether in Asia: Expert

China’s central bank’s digital currency is generally known as a way to challenge the supremacy of the US dollar, not Bitcoin (BTC). Yet acceptance in niches where crypto versions of the dollar flourish can be difficult to find, especially Tether (USDT). Charles Yang of Genesis Block explained at the Unitize panel on Monday why DCEP, […]

Japan's national cryptocurrency

Japan Plans to Release Its Own National Cryptocurrency

Japan plans to release its own cryptocurrency following the announcement of China’s launch of the digital Yuan. China started planning its digital Yuan project known as DCEP after Facebook announces its intentions to release Libra. At the moment, China is close to releasing the digital version of its national currency Yuan and Japan is following […]

central bank of china

“Digital Yuan Will be Different from Bitcoin” Says Central Bank of China

Central Bank of China deputy director Mr. Mu Changchun announces in his recent media interaction that Digital Yuan will be different from Bitcoin and Stablecoins. According to the South China Morning Post, China’s national digital currency would be a digital form of the Yuan. The head of the digital currency research institute at the People’s […]