US Senator Ted Cruz tries again with new bill to block CBDC
Ted Cruz said it is “more important than ever” to ensure the financial privacy of American citizens is preserved. Go to Source Powered by WPeMatico
Digital Yuan
Auto Added by WPeMatico
Digital Real Pilot to Run on Ethereum-Compatible, Permissioned Blockchain
According to the Central Bank of Brazil, the digital real pilot project will use an Ethereum-compatible, permissioned blockchain for the issuance of the tokenized version of the country’s currency. Hyperledger Besu, the open-source platform elected for the tests, will allow the project to run without any licensing costs and to deal with maintenance costs later, … Read more
China’s Wechat Adds Support for Digital Yuan Payments
Chinese social media platform Wechat has introduced support for the state-backed digital yuan in its popular payment app. Over a billion users will now ostensibly be able to take advantage of fast payments with the digital currency issued by the People’s Bank of China. Wechat Pay Follows Alipay in Integrating Payments With Digital Yuan The … Read more
US lagging on CBDCs could spell ‘trouble’ — Crypto Council policy head
Fanusie doesn’t believe the Chinese-led CBDC movement on the global stage will replace the U.S. dollar, but it may cause a series of geopolitical headaches. Go to Source Powered by WPeMatico
China doles out millions in digital yuan in bid to boost adoption: Report
Multiple Chinese city governments have given away millions worth of e-CNY to try to promote consumption around the holiday season. Go to Source Powered by WPeMatico
Chinese Economist Urges Government to Reconsider Crypto Ban — Warns of Missed Tech Opportunities
An economics professor and former adviser to the People’s Bank of China has urged the Chinese government to reconsider its ban on cryptocurrencies. He warned that banning crypto activities could result in missed opportunities that are “very valuable” to regulated financial systems. Chinese Economist Warns of Missed Opportunities Due to Crypto Ban A former adviser … Read more
China’s Hainan to boost NFT oversight as digital yuan trial ramps
Hainan’s market regulator wants to promote NFTs as part of the digital economy, but will actively work to weed out bad actors and speculative behavior. Go to Source Powered by WPeMatico
China’s digital yuan gets smart contract functionality alongside new use cases
China’s central bank digital currency (CBDC) has seen new use cases in recent days, including buying securities and making offline payments. Go to Source Powered by WPeMatico
Shanghai Metaverse Pilot Introduces Digital Services in 20 Urban Locations
The city of Shanghai is bringing metaverse activities to 20 urban locations, that will allow citizens to use digital tools in different ways according to the area. The initiative is part of a pilot program of the Shanghai Municipal Commission of Economy and Informatization to push more metaverse applications to the population. Shanghai Takes the … Read more
China’s Digital Yuan Little Used, Former Central Bank Official Says
Trials of the digital yuan have produced disappointing results, according to a report quoting the former head of research at the Chinese central bank. The new form of national fiat has brought no benefits to the banks and should expand beyond being employed only as a substitute for cash, the banker believes. Common People Used … Read more