Central banks kept up demand for gold in February, registering net purchases of 19 tonnes. Albeit the purchasing trend continued, purchases fell 58% compared to January’s demand, according to IMF and World Gold Council numbers. China reported the largest gold accumulation, acquiring 12 tonnes to maintain a 16-month gold purchasing streak. Gold Demand Still High […]
Category: China
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Chinese Government Launches ‘Ultra-Large Scale Blockchain Infrastructure Platform’
The Chinese government is reportedly launching an “ultra-large-scale blockchain infrastructure platform for the Belt and Road Initiative.” The platform will support the implementation of cross-border cooperation projects along the Belt and Road Initiative and provide the base for developing applications that showcase collaboration across borders. ‘Ultra-Large Scale Blockchain Infrastructure Platform’ The Chinese government has reportedly […]
Convicted UK Woman Found With $4B in BTC, the SEC Seeks $2B Fine From Ripple, and More — Week in Review
A London woman has been convicted for money laundering, having been found with over $4.3 billion in bitcoin, which she converted into physical assets. The SEC is seeking a nearly $2 billion fine from Ripple Labs in a landmark XRP lawsuit, a move Ripple’s CEO deems unprecedented. The activation of a dormant bitcoin wallet, known […]
Report: China Could Be Hoarding Over 5,300 Tonnes of Gold, Might Create Price ‘Perfect Storm’
A recent report from Jan Nieuwenhuijs, an expert in the Chinese gold market, has found that the actual gold reserves held by the People’s Bank of China might comprise over 5,300 tonnes, dwarfing official numbers. Nieuwenhuijs explains China might be a driving force behind increasing gold prices, as the country moves to hoarding gold to […]
Russia Hints at Development of CBDC-Based BRICS Bridge Payments System
Russia has proposed the development and implementation of a BRICS-wide payment system that would use central bank digital currencies (CBDCs) to manage trade settlements. The BRICS bridge, as referred to by Russian Finance Minister Anton Siluanov, would address the fragmentation of the current payment system outside the West’s “unfriendly infrastructure.” Russia Hints at Using CBDC […]
Digital Yuan Now Used to Complete Car Prepurchase Payments
The digital yuan, China’s central bank digital currency (CBDC), is being used as a security element in car prepurchase payment settlements. According to local media reports, a pilot test that allows customers to pay for their cars with digital yuan was established in early February in Shenzhen, and several customers are already purchasing their vehicles […]
Chinese government plans for blockchain-based identity verification
The Chinese Ministry of Public Security plans to implement a blockchain-based identity verification system that it claims will help keep personal data and identity credentials safe.
AI regulations in global focus as EU approaches regulation deal
Concerns over potential misuse of AI have prompted the U.S., U.K., China, and the G7 to speed up regulation of the technology, though Europe is already way ahead.
Canaan secures new financing as revenue falls 55% in Q3
Despite a downturn in its bottom line, the company has secured a deal with an institutional investor to potentially raise $125 million in capital.
More foreign banks join China’s CBDC pilot trials
A total of four foreign banks have integrated China’s e-CNY CBDC thus far.