CNY – DIGIT INFO

China’s Yuan Continues to Depreciate Against Greenback, Real Estate Crisis Exposed 2 Decades of Accumulated Risk

DIGIT — Fri, 26 Aug 2022 19:30:08 +0000

China’s sovereign currency, the yuan, has slid significantly in value during the last few months as it has shed 8% against the U.S. dollar during the first half of 2022. China’s fiat currency is currently the weakest it has been against the U.S. dollar in roughly two years. Amid the depreciating yuan, China is suffering […]

Go to Source

Digital Yuan to Promote International Use of Chinese Currency, Experts Say

DIGIT — Fri, 30 Jul 2021 08:30:01 +0000

The new digital yuan, currently undergoing trials, can help to increase the international usage of China’s national fiat, experts have stated. As the renminbi (RMB, CNY) is becoming one of the world’s most important currencies, the People’s Bank of China is planning to conduct cross-border tests with the yuan’s digitized version, the e-CNY. Digital Yuan […]

Go to Source

CNY Inflows Into Crypto Markets Surge After Shanghai Composite Spike

DIGIT — Tue, 19 Mar 2019 04:45:56 +0000

Back in January 2017, China’s financial authorities initiated their first crackdowns against domestic bitcoin exchanges, with a ban on mainland exchanges cryptocurrencies against the yuan coming shortly thereafter. Now, close to two years and three months later, a surge of CNY has been flowing back into the digital currency economy after the Shanghai Composite posting […]

The post CNY Inflows Into Crypto Markets Surge After Shanghai Composite Spike appeared first on Bitcoin News.

Go to Source

4 Exchanges Offering CNY-BTC Trading Despite PBoC’s Blanket Ban

DIGIT — Mon, 13 Aug 2018 13:00:09 +0000

A very interesting situation was created in China when the PBoC decided to ban CNY trading on all domestic exchanges. As such, one would expect no real trading platforms to still offer this functionality. The reality is very different, although none of the following exchanges – ranked by current popularity – is making a very ... Read more

Chinese Yuan’s Share of Bitcoin Trading Dropped From 90% to 1%

DIGIT — Fri, 13 Jul 2018 02:00:12 +0000

China is one of the more technologically advanced nations in the world, and with its population closing in on 1.4 billion, it was naturally one of the biggest Bitcoin markets during the cryptocurrency’s early days. Many of the biggest exchanges in the world were established in the Asian nation, with reports indicating that at one ... Read more