China

Auto Added by WPeMatico

China Takes Another Step Away From USD Hegemony

by

The China Foreign Exchange Trade System (CFETS) announced that effective January 1, 2020, the system “will adjust weights for CFETS RMB Index,” decreasing the weighting of the USD for the second time in the currency basket’s history from 22.40% to 21.59%, and increasing the Euro from 16.34% to 17.40%. The change could signal further disassociation … Read more

Regulatory Roundup: China Blockchain ETF, France New Crypto Rules, Tokens Like Money in Russia

by

In this roundup, we cover Russia’s supreme court recognizing tokens as assets like money and property, France’s new crypto regulatory framework, and several industry developments in China, including a blockchain ETF filing. We also cover Japan’s world conference for decentralized financial governance, Uzbekistan’s crypto ban, and four countries’ central bank digital currency updates. Also read: … Read more

China’s Digital Yuan is a Trojan Horse With Plenty of Potential Repercussions

by

The global focus continues to shift toward China’s digital currency plans. Despite a genuine lack of information, it certainly poses many different threats.  Rumors regarding a digital yuan have persisted for years now. China’s Digital Yuan is More Than Just a CBDC Only a few months ago, it became apparent this was more truth than … Read more

Authorities in Sichuan Go After Miners to Save Electricity in the Dry Season

by

Regional authorities in the province of Sichuan are reportedly pressuring bitcoin miners to scale down operations amid electricity shortages during the dry season in Southwest China. A meeting has been scheduled with regulators, the state run grid operator and mining companies. Two hydropower stations have been fined already for powering bitcoin farms without authorization. Also … Read more