Yuan Financial News

19.08 / 00:39

Yuan Bankruptcy BTC price Bitcoin Pro: Evergrande Group chapter 15 'indirectly influenced Bitcoin sentiment'

In a surprising turn of events, the recent developments surrounding the Evergrande Group's Chapter 15 filing have reverberated beyond traditional finance, indirectly influencing the sentiment around Bitcoin (BTC) and the cryptocurrency market.

12.10 / 19:17

CBDC regulation Yuan park China opens industrial park for digital yuan CBDC development in Shenzhen

China opened an industrial park dedicated to developing the digital yuan ecosystem on Oct. 11, according to Chinese press reports. This is the first such park dedicated to the central bank digital currency (CBDC), which is also referred to as the e-CNY.

25.09 / 13:27

Blockchain CBDC Adoption Yuan Winter Olympics Digital yuan app adds prepaid Mastercard Visa top-ups for tourists

Tourists planning on visiting the People's Republic of China can now pre-charge Digital Yuan wallets using VISA and Mastercard payment options as the nation continues to update the mobile app powering its CBDC pilot.

22.09 / 06:25

Yuan Bitcoin PUMP China suffers worst capital flight in years, but could it pump Bitcoin?

Bitcoin (BTC) could see “substantial inflows” from China within the next few months amid a weakening Chinese yuan and one of the country’s biggest capital flights in years.

21.07 / 09:33

Blockchain CBDC Adoption Peoples Bank of China Yuan Digital yuan integration introduced to Chinese business air travel

As the pilot program for China’s central bank digital currency (CBDC) — the digital yuan — takes off, Chinese business travelers will reportedly be able to pay for flight tickets using the CBDC.

05.07 / 11:31

business Payments Yuan Bitcoin Crypto-friendly DBS Bank launches digital yuan payment tool

Cryptocurrency-friendly bank DBS is cooperating with mainland China on the development of a new payment solution for the digital yuan, also known as e-CNY.

24.04 / 13:31

Blockchain CBDC Adoption regulation Yuan China to expand CBDC use case for Belt and Road Initiative

China is expanding the use cases for its central bank digital currency (CBDC) called digital yuan or e-CNY for its Belt and Road initiative and cross-border trades. The digital yuan a.k.a. digital RMB was one of the first CBDCs to be developed and widely tested. While there hasn’t been an official launch, the government has expanded its testing parameter to include multiple cities and millions of people.

14.03 / 06:19

CBDC regulation Peoples Bank of China Yuan NOT CBDCs should protect privacy, not be a surveillance tool: Former CFTC chair

The United States should lead the development of Central Bank Digital Currencies (CBDCs) away from being “surveillance coins” and towards being "freedom coins,” says the former chair of the Commodity Futures Trading Commission (CFTC).

07.03 / 16:17

CBDC Adoption regulation WeChat Yuan WeChat integrates digital yuan into its payment platform

WeChat, China’s leading social networking and payment app, has added the country’s central bank digital currency (CBDC), to its payment services, according to reports in local media. The move aims to help broaden the appeal of the digital yuan.

06.02 / 08:13

CBDC Adoption Digital Currency Central Bank Yuan boost China doles out millions in digital yuan in bid to boost adoption: Report

Millions of dollars worth of China’s Central Bank Digital Currency (CBDC) has been handed out across the country over the Lunar New Year period in a bid to boost its takeup.

02.02 / 21:49

business Blockchain CBDC Yuan e-CNY Chinese Communist Party officials issue KPIs for e-CNY transactions in Suzhou

According to local news outlet JS China, on Feb. 1, an annual meeting regarding the trial of the digital yuan central bank digital currency (e-CNY CBDC) was attended by senior Communist Party officials in the City of Suzhou. As part of the meeting outcomes, party officials have set a tentative key performance indicator (KPI) of 2 trillion CNY ($300 billion) for e-CNY CBDC transactions in the city by the end of 2023 to be implemented by municipal administrators through promotional efforts.

31.01 / 07:13

CBDC regulation Peoples Bank of China Yuan boost China's Hainan to boost NFT oversight as digital yuan trial ramps

Authorities from the Hainan province in southern China have vowed to increase oversight on the nonfungible token (NFT) sector to “promote the healthy development” of the sector and to stomp out fraud and other associated risks.

20.01 / 05:23

CBDC Adoption Digital Currency Smart Contracts Peoples Bank of China Yuan China’s digital yuan gets smart contract functionality alongside new use cases

China’s Central Bank Digital Currency (CBDC) — the digital yuan, or eCNY — has received upgrades giving it smart contract functionality alongside a series of newly unveiled use cases.

29.09 / 11:03

Citi Digital Yuan settlement Cross-border China Trials Cross-Border Settlement Involving Cenbank Digital Currencies

China has been testing its digital currency in major cities.

20.09 / 20:25

business CBDC Yuan Winter Olympics China will expand CBDC trials to most populous province: Report

The People’s Bank of China, or PBoC, will reportedly expand deployment of its central bank digital currency, the e-CNY, to four of the country’s provinces, including Guangdong.

01.04 / 05:07

Adoption Gold Yuan Bitcoin Reserve VanEck says Bitcoin could hit $4.8M if it became the global reserve asset

American investment firm VanEck believes that Bitcoin has double the upside of gold and could be worth as much as $4.8 million per coin if it becomes the global reserve asset.

01.02 / 00:51

business CBDC Yuan Winter Olympics restrictions COVID restrictions COVID restrictions stymie digital yuan rollout at Beijing Winter Olympics: report

Though athletes and support staff arriving for the Beijing 2022 Olympics still have the option of using digital currency for payments at many venues, the international test run of China’s CBDC is reportedly facing hurdles due to the pandemic.

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