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China PBOC Views CBDC Race as "New Battlefied" Between Sovereign Nations

China PBOC Views CBDC Race as "New Battlefied" Between Sovereign Nations

China through its apex bank, the People’s Bank of China (PBOC) has reiterated its desire to be the first nation to issue a Central Bank Digital Currency (CBDC)

China, the PBoC x Blockchain: Love and Marriage, Horse and Carriage

China, the PBoC x Blockchain: Love and Marriage, Horse and Carriage

It’s all about China and blockchain. After breaking news of President Xi Jinping’s official endorsement on the blockchain technology and Bitcoin performing a sharp “to-the-moon” move and hitting $10K over the weekend, blockchain-related stocks in China also received a major boost.

China's Antitrust Agency Urged By the PBOC to Probe Alipay and WeChat Pay

China's Antitrust Agency Urged By the PBOC to Probe Alipay and WeChat Pay

In a move similar to the US antitrust hearing, the People’s Bank of China has prompted the nations top antitrust body to probe Alipay and WeChat

Chinese Regulators Shut Down A Domestic Software Firm Over Alleged Involvement in Illegal Crypto Trading

Chinese Regulators Shut Down A Domestic Software Firm Over Alleged Involvement in Illegal Crypto Trading

A local Chinese software company suspected of involvement in cryptocurrency trading activities was forced to shut down by two Two financial regulators in China, including the People’s Bank of China (PBoC).

The Central Bank of China Reiterates All Crypto-related Transactions are Illegal

The Central Bank of China Reiterates All Crypto-related Transactions are Illegal

The Chinese government once again stepped up its suppression of cryptocurrency transactions, and the Chinese central bank stated that all cryptocurrency-related transactions are illegal.

Central Bank Official: Blockchain Application Ideal for Chinese Commercial Banks

Central Bank Official: Blockchain Application Ideal for Chinese Commercial Banks

Li Wei, the Technology Departmental Head of the People’s Bank of China, has urged Chinese commercial banks to embrace blockchain and digital finance.

China’s Central Bank Partners with Commercial Banks and Telecom Giants to Test Digital Currency in Two Major Cities

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.

China’s Central Bank Rolling Out DCEP National Currency, While Saying ‘Libra Won’t Succeed'

China’s Central Bank Rolling Out DCEP National Currency, While Saying ‘Libra Won’t Succeed'

China has been reportedly developing its central bank-issued digital currency for a while and is believed to be ready to launch by China’s central bank, People’s Bank of China (PBoC).

SFC and HKMA Endorse PBoC’s New Measure on Northbound Swap Connect

SFC and HKMA Endorse PBoC’s New Measure on Northbound Swap Connect

The SFC and HKMA have expressed support for the PBoC's new measure on Northbound Swap Connect margin collateral arrangement, aimed at enhancing market stability.

HKMA and SFC Endorse PBoC’s New Margin Collateral Measure for Northbound Swap Connect

HKMA and SFC Endorse PBoC’s New Margin Collateral Measure for Northbound Swap Connect

HKMA and SFC welcome PBoC’s initiative to allow offshore investors to use onshore bonds as margin collateral for Northbound Swap Connect, enhancing market participation.

PBOC and HKMA Sign MOU on Cross-Boundary Payment System Linkage

PBOC and HKMA Sign MOU on Cross-Boundary Payment System Linkage

The PBOC and HKMA have signed a Memorandum of Understanding to link payment systems between Mainland China and Hong Kong.

Hong Kong Monetary Authority Announces Tender Results for PBOC RMB Bills

Hong Kong Monetary Authority Announces Tender Results for PBOC RMB Bills

The Hong Kong Monetary Authority (HKMA) announced the results of the tenders for the People's Bank of China (PBOC) RMB Bills held on 21 August 2024.

PBOC to Issue Renminbi Bills via Hong Kong Monetary Authority's Central Moneymarkets Unit

PBOC to Issue Renminbi Bills via Hong Kong Monetary Authority's Central Moneymarkets Unit

The People's Bank of China is set to issue Renminbi Bills through the Central Moneymarkets Unit of the Hong Kong Monetary Authority.

China announces new financial regulator in governmental overhaul

China announces new financial regulator in governmental overhaul

China is introducing a new national financial regulator as part of a governmental overhaul. The current banking and insurance watchdog, the China Banking and Insurance Regulatory Commission (CBIRC), will be abolished, and its responsibilities will be moved to a brand new administration. The new financial regulator will "strengthen institutional supervision, supervision of behaviors and supervision of functions." There was no specific mention of reforms for the crypto industry.

Bitcoin, Ethereum, Solana And Other Crypto Prices Further Plunge Following China’s Fresh Crypto Ban

Bitcoin, Ethereum, Solana And Other Crypto Prices Further Plunge Following China’s Fresh Crypto Ban

Cryptocurrency markets have experienced other crashes on Friday amid China’s Central bank renewed ban on cryptocurrency transactions.

Huawei Files Patent For Blockchain Ledger Storage and Device

Huawei Files Patent For Blockchain Ledger Storage and Device

Chinese technology giant Huawei has applied for a patent on a new blockchain-based storage systems.

China’s Ethereum Mining Pool Sparkpool To Stop Offering Services Following PBOC’s Clampdown on Crypto

China’s Ethereum Mining Pool Sparkpool To Stop Offering Services Following PBOC’s Clampdown on Crypto

Sparkpool, an Hangzhou-based Ethereum mining pool in China, has suspected of providing its services to its customers in China and further plans to halt the services abroad.

PBOC Governor Says Digital Yuan Will Prioritize Privacy Protection

PBOC Governor Says Digital Yuan Will Prioritize Privacy Protection

China's PBoC Governor Yi Gang has reassured that the country's Digital Yuan will prioritize privacy protection

Bank of China’s Former President Lists Four Key Conditions For Digital Yuan to Replace Cash

Bank of China’s Former President Lists Four Key Conditions For Digital Yuan to Replace Cash

The former head of the People’s Bank of China announced that the soon to be launched Digital Yuan will be able to replace cash if certain key conditions are met.

Six Central Banks Form Working Group to Assess Central Bank Digital Currencies

Six Central Banks Form Working Group to Assess Central Bank Digital Currencies

Six central banks around the world have come together to create a working group to share experiences on use cases on central bank digital currency (CBDC). With significant expertise in exploring digital currencies, these six central banks are the Bank of Canada, Bank of England, Bank of Japan, European Central bank, Sveriges Riksbank in Sweden, and the Swiss National Bank, and the Bank of International Settlements (BIS).

Japanese Lawmaker Urges Digital Yen Development to Curb China Dominance

Japanese Lawmaker Urges Digital Yen Development to Curb China Dominance

Japanese Lawmaker, Kozo Yamamoto has called for the expedited development of Japan’s digital yen as the race to be the first nation with an operating central bank digital currency (CBDC) heats up.

MAS Shortlists 15 Firms to Help Pilot its CBDC Program

MAS Shortlists 15 Firms to Help Pilot its CBDC Program

15 candidates have been chosen to continue vying for the role to help deploy Singapore's CBDC program

China's Pursuit of Digital Yuan "Unswerving" in Wake of COVID-19 Global Pandemic, says Central Bank

China's Pursuit of Digital Yuan "Unswerving" in Wake of COVID-19 Global Pandemic, says Central Bank

China’s central bank has further galvanised its public commitment to creating the first central bank digital currency (CBDC), a digital version of the Yuan, at an annual meeting hosted last Friday by the People’s Bank of China (PBoC) vice governor Yifei Fan.

China to Build ‘Digital Central Bank’ Infrastructure, Striving to Become the World’s Leader in Digital Currency Development

China to Build ‘Digital Central Bank’ Infrastructure, Striving to Become the World’s Leader in Digital Currency Development

China’s Central Bank, People’s Bank of China (PBoC) is planning to look into building a digital central bank infrastructure to improve the standards of financial services in the country. On May 18, the Chinese Central Bank’s 2020 video conference on scientific and technological work was held in its capital, Beijing. The meeting focused on the technological achievements made in 2019, an in-depth analysis of the current situation and challenges, and the upcoming key plans for 2020.

China Launches Digital Yuan Pilot Wallet for Android and iOS Users

China Launches Digital Yuan Pilot Wallet for Android and iOS Users

The People’s Bank of China has extended its pilot tests for the country’s Central Bank Digital Currency (CBDC) or digital Yuan with the launch of a new mobile wallet for Android and iOS users.

China's e-CNY is Growing, despite Local Payment Options Lack behind

China's e-CNY is Growing, despite Local Payment Options Lack behind

China’s CBDC is growing at a fast pace as data released official from the PBOC financial markets department revealed the new legal tender has inked a total of 87.57 billion yuan ($13.68 billion) in transactions since public trials began.

PBoC Governor Yi Gang Reports $300 Million in Digital Yuan Pilot Transactions

PBoC Governor Yi Gang Reports $300 Million in Digital Yuan Pilot Transactions

China’s digital yuan pilot testing in four of its cities has recorded a sum of nearly $300 million (two billion yuan) in transactions according to the People’s Bank of China's Head.

Suzhou Next City in China to Test Digital Yuan DCEP in Red Envelope Event

Suzhou Next City in China to Test Digital Yuan DCEP in Red Envelope Event

China’s central bank is scheduled to test its digital yuan dubbed the Digital Currency Electronic Payment (DCEP) in a second red packet lottery event in Suzhou on December 12.

CSRC Director Yao Qian: CBDCs Can Run on Ethereum and Diem

CSRC Director Yao Qian: CBDCs Can Run on Ethereum and Diem

China Securities Regulatory Commission Director suggests that China can utilize the BaaS infrastructure of public blockchain networks for CBDCs establishment.

Alipay and WeChat Pay Could Be Casualties of China's Digital Yuan

Alipay and WeChat Pay Could Be Casualties of China's Digital Yuan

Still strategizing to curb the dominance of Alipay and WeChat Pay, the People’s Bank of China will be using its DCEP system to break the cashless payment duopoly.

China's Central Bank Governor Says no Timeline for Digital Currency Launch

China's Central Bank Governor Says no Timeline for Digital Currency Launch

The Governor of the People's Bank of China has declared that there is no timeline to the release of the country's digital Yuan, an innovation that has entered its test pilot phase.

China Expands Digital Yuan Pilot Sites to 23 regions across 15 Provinces

China Expands Digital Yuan Pilot Sites to 23 regions across 15 Provinces

The People's Bank of China announced that it will expand the digital yuan pilot program from 11 regions to 23 regions in 15 provinces and cities.

Can Alipay and WeChat Pay Compete With China’s Fee-Free Digital Yuan?

Can Alipay and WeChat Pay Compete With China’s Fee-Free Digital Yuan?

Will Alipay and WeChat Pay survive the People's Bank Of China's rollout of the digital yuan or DCEP?

China’s DCEP Aims to Restructure the Payment Network While Maintaining a “Normal” Monetary Policy

China’s DCEP Aims to Restructure the Payment Network While Maintaining a “Normal” Monetary Policy

A Chinese senior central bank official said China should maintain a “normal” monetary policy as the country has been recovering from COVID-19 smoothly.

China Hand-Picks the Greater Bay Area Surrounding Hong Kong to be the First to Deploy its CBDC

China Hand-Picks the Greater Bay Area Surrounding Hong Kong to be the First to Deploy its CBDC

China’s central bank digital currency (CBDC) has been successfully launched earlier this year and the country is currently continuing its path towards fully launching its digital currency electronic payment (DCEP).

China’s Central Bank to Develop Blockchain-Based Trade Finance Platform for the Greater Bay Area

China’s Central Bank to Develop Blockchain-Based Trade Finance Platform for the Greater Bay Area

China’s Central Bank, the People’s Bank of China (PBoC) announced its development plans for outlining a blockchain-based trade finance platform for the Greater Bay Area that links Hong Kong, Guangdong, and Macao. Governing entities in China, including the PBoC, China Banking Regulatory Commission, China Securities Regulatory Commission, and the Foreign Exchange Bureau came together to issue the official document for the proposal. The entities submitted their suggestions on financing the construction of the Guangdong-Hong Kong-Macao Greater Bay Area, focusing on global trade and finance.

Chinese Banks Clarify on Crypto Account Freezing Despite Alipay’s Crypto Ban Last Year

Chinese Banks Clarify on Crypto Account Freezing Despite Alipay’s Crypto Ban Last Year

China’s banks were rumored to be freezing client accounts that have a history associated with the buying and selling of cryptocurrencies. However, according to a recent report, Chinese banks have clarified that this is not the case, and they are not shutting down any legal fiat to crypto accounts.

China’s Central Bank Reveals First Cohort of its FinTech Regulatory Sandbox Pilot

China’s Central Bank Reveals First Cohort of its FinTech Regulatory Sandbox Pilot

The Chinese central bank’s Shanghai headquarters has recently revealed the Shanghai FinTech Innovation regulatory sandbox application list. The People’s Bank of China’s (PBoC) Shanghai branch is currently soliciting opinions from the public on eight applications to be included in the FinTech innovation supervision pilot.

HK FinTech Week: China’s eCNY Wallet Registers 140M Users, Rises 6 Times More, says PBoC Official

HK FinTech Week: China’s eCNY Wallet Registers 140M Users, Rises 6 Times More, says PBoC Official

China’s digital yuan wallet has witnessed its user base rise six times more just after the past four months to hit 140 million active accounts.

China’s Central Bank Partners with Three Commercial Banks to Develop Blockchain-Based Trading Platform

China’s Central Bank Partners with Three Commercial Banks to Develop Blockchain-Based Trading Platform

China’s central bank, the People’s Bank of China (PBoC) has signed an agreement with China Minsheng Bank, China CITIC Bank, and the Bank of China for cooperating on a blockchain-based trading platform.

China’s Central Bank Official Urges the Acceleration of Digitization of the Chinese Economy with Blockchain

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.

Investors Flock to the DEX dYdx with its Token with Rising by 50% after the Clampdown from China

Investors Flock to the DEX dYdx with its Token with Rising by 50% after the Clampdown from China

Since last Friday, the People's Bank of China began to crack down on cryptocurrency trading, a large number of Chinese traders seem to have turned their trading venues to dYdX- a decentralized leveraged trading exchange.

China’s Central Bank Digital Currency Research Unit Signs Deal with Huawei

China’s Central Bank Digital Currency Research Unit Signs Deal with Huawei

The Chinese central bank, People’s Bank of China’s (PBoC) Digital Currency Research Institute has signed an agreement with multinational telecommunications giant Huawei.

China's DCEP Testing Limited to Small Retail Transactions for Now

China's DCEP Testing Limited to Small Retail Transactions for Now

The People’s Bank of China (PBOC) has affirmed that the testing of its CBDC project is concentrated only to small scale transactions for now.

China to Award DCEP Worth $1.5 Million to Shenzhen Residents to Test Digital Yuan

China to Award DCEP Worth $1.5 Million to Shenzhen Residents to Test Digital Yuan

China’s central bank, the People's Bank of China (PBOC), has teamed up with Shenzhen city to distribute DCEP worth 10 million yuan, approximately $1.5 million to residents.

People's Bank of China Seeks to Prohibit the Creation of Digital Tokens

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

China's Central Bank and Watchdogs Meet with Jack Ma and Ant Group Execs following Regulation Criticism

China's Central Bank and Watchdogs Meet with Jack Ma and Ant Group Execs following Regulation Criticism

Ant Group founder Jack Ma and the firm’s top executives met with PBoC and three financial regulators as China published new draft rules for online micro-lending.

Stern Warning on Crypto Trading by the China's Central Bank Prompts Bitcoin Bears

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.

China's Central Bank Publishes Rules for Blockchain-Based Financial Applications

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 Announces Its Digital Currency is Ready

People’s Bank of China Announces Its Digital Currency is Ready

The central bank of China has announced that its digital currency can now be said to be ready. Speaking in a major event, the China forum as reported by local news site Shanghai Securities News on August 10, the deputy director of the people’s Bank of China (PBoC) Mu Changchun stated that over five years of rigorous research work has been put into creating a prototype that adopts the Blockchain architecture

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