Search Results for "bank of china"
China’s Central Bank Official Urges the Acceleration of Digitization of the Chinese Economy with Blockchain
China’s central bank, the People’s Bank of China (PBoC) Financial Technology Committee held its first meeting of the year this week, after months of delay due to the coronavirus pandemic. Fan Yifei, the PBoC’s deputy governor echoed President Xi Jinping’s call for the acceleration of the country’s blockchain development adoption. The president pointed out that it is necessary to strengthen fundamental research of blockchain technology and enhance innovation, enabling China to take a leading position in the blockchain field. The bank’s deputy governor met with the central bank’s officials as well as the heads of their affiliated financial institutions. Fan emphasized the importance of blockchain and financial technology (FinTech) industries and wanted to ensure China’s adoption plan would be laid out and implemented by 2021 to be in line with the deadline they have set out.
US-China Cold War Could Benefit Bitcoin
An internal Chinese report presented to Chinese Leader Xi Jinping and his top party members on May 4, concluded that anti-China sentiment is currently at its highest since the 1989 Tiananmen Square crackdown according to Reuters.
Stern Warning on Crypto Trading by the China's Central Bank Prompts Bitcoin Bears
Following a cryptocurrency trading clampdown threat by China's central bank, People’s Bank of China (PBoC), Bitcoin has seen losses of more than 10%. Its value has dropped below $7,000.
Major China Bank Disables Digital Yuan Wallet Registration After Launch Draws Intense Public Attention
China Construction Bank (CCB) opened registration service for the DCEP wallet via its mobile app but disabled the new feature shortly after.
Gambling Rings Use Cryptocurrency to Transfer $145.5 Billion of Funds Outside China Every Year, Official Report Reveals
Government officials identified that cryptocurrencies are used to collect and transfer 1 trillion yuan out of China to online gambling and casinos every year.
China's Central Bank Says Digital Yuan Will Not Raise Inflation
Bank of China claims that the introduction of digital yuan will not cause the occurrence of inflation.
Bank of Canada Says CBDCs Have Inherent Risks in New Study
A new report released by the Bank of Canada has revealed that the bank believes Central Bank Digital Currencies can pose security risks to users
China's Central Bank Publishes Rules for Blockchain-Based Financial Applications
The People’s Bank of China (PBoC) has published a set of evaluation rules for blockchain-based finance applications. The published rules aim to provide regulatory oversight using three basic standards bordering on technical, performance, and security.
People's Bank of China Seeks to Prohibit the Creation of Digital Tokens
The People’s Bank of China (PBOC) is calling for public opinion or feedback in line with its plans to revise its extant banking laws
Bank for International Settlements Reveals Findings on Central Bank Digital Currencies
The Bank for International Settlements released its analysis report in which it evaluated central bank digital currencies globally.
China’s Central Bank Partners with Commercial Banks and Telecom Giants to Test Digital Currency in Two Major Cities
New developments of China’s central bank geared towards testing its digital currency electronic payment (DCEP) in the cities of Shenzhen and Suzhou. The People’s Bank of China, the country’s central bank is on track to become the first central bank on the globe to issue a national digital currency.
The Reserve Bank of India Has its Eyes on CBDC
The Governor of the Reserve Bank of India says the monetary authority is “very much in the game” to launch a CBDC.